A study of customer satisfaction in using banking services through Artificial Intelligence (AI) in India

Asmat Ara Shaikh, Arya Kumar, Apoorva Mishra and Yasir Arafat Elahi

Public Administration and Policy: An Asia-Pacific Journal, 2024, vol. 27, issue 2, 167-181

Abstract: Purpose - This article examines customer satisfaction in using banking services through Artificial Intelligence (AI) in India. It addresses two questions: first, will customers perceive AI technology as a reliable and efficient alternative to traditional banking practices; second, will AI save customers’ time. Design/methodology/approach - The quantitative research method based on regression analysis models was adopted for hypothesis testing, with data collected from a survey of 189 banking customers from four banks, i.e., State Bank of India, Axis Bank, Punjab National Bank, and HDFC Bank in India. Findings - AI improves banking customers’ experiences by making banking more accessible and enjoyable. Satisfied customers are quick to use cutting-edge AI tools. However, human service is more satisfying than digital service. AI has great potential but works alongside humans rather than replacing them. Even though AI’s novel architecture is helpful, human bank tellers are still needed in enhancing customer satisfaction. Originality/value - AI’s integration in Indian banking, propelled by customer satisfaction, foresees a transformative landscape. This study uncovers AI’s role in saving time and improving customer satisfaction. While AI revolutionizes financial processes, its harmonious coexistence with human expertise emphasizes personalized and efficient services. This study provides insights for optimal AI utilization in shaping the future of banking.

Keywords: Artificial intelligence; Banking industry; Customer satisfaction; Customer behavior; Financial practice; India (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:pappps:pap-05-2023-0060

DOI: 10.1108/PAP-05-2023-0060

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