a study on consumer satisfaction towards atm services provided br various banks

These advantages led the smaller businesses to concentrate on convenience locations, better customer service, reduction of banking fees, waiving of ATM fees and the ability to cross-sell extra products and services. According to the research, in 2009 the consumers chose their banks based on traditional criteria, such as low account minimums, competitive rates, and convenient locations. (Case, pg. 2)

ATM: ATM is a physical embed-in device which is to be installed on the wall as part of the supporting infrastructure, despite of the fact that is unmovable, it is possible that any third party scam devices is installed on the it by an intruder, such device includes hidden camera, fake PIN pads and card skimmers. These data collection devices can retrieve your personal private information quickly if you trigger them by the way they want.

Business correspondents are the key players in Microfinance sector with technology-based transactions they are provided Point of Sale (POS) devices and doing EKYC through the finger print technology. They use Micro-ATM (POS) handheld device to perform basic financial transactions like Deposit, Withdrawal, Funds Transfer, Balance Enquiry, Mini Statement and other remittance. The below table depicts the POS based transactions during last five year across various

There has been countless numbers of ATM hacking taking place, having billions of dollars loss and innocent people now in debt. ATM hacking has really proved to be effective and has become a major success for criminals. In the article, “Hackers Devise Wireless Methods for Stealing ATM Users' PINs”, author Jordan Robertson, speaks on how ATM hacking has had a major effect on the U.S and U.S citizens.

“The hackers use those footholds to crawl through corporate networks until they gain access to the in-store cash register systems. From there, criminals collect payment card data off the cash register systems and send it back to their servers abroad”. (Perloth, N. (2014, August 22, P6). This has led to fall out both from the public as well as industries scrambling to fix the situation before it gets any worse.

In this modern era of technology, we extensively make use of virtual money. Credit and Debit cards have become an integral part of the world’s economy. Due to this extensive usage of cards, we have become a “cashless society”. We make use of credit cards to make online payments, to buy items at retailers and grocery stores; almost anywhere we go and purchase, we extensively make use of credit cards. This over dependency and usage of credit cards has given rise to new form of crime called the Credit Card fraud.

Although, electronic banking provides many opportunities for the banks, it is also the case that the current banking services provided through internet are limited due to security concerns, complexity and technological problems (Sathye, 1999 & Mols, 1999). According to Financial Services Authority (FSA) 2010, banks face several risks but notably are; Safety situations around ATMs, abuse of bank cards by fraudsters at ATMs and the danger of giving your card number when buying on line. Security risk is a major source of concern for both customer and the bank. Since E- banking services are offered using network, it is exposed to risk environments hence leading to security breaches. The consequences of security threats are potential financial, legal and reputational implications.

Electronic banking started in the United States because the clearing arrangements between the large numbers of geographically dispersed US banks was extremely inefficient. Corporate customer pressure for improvements was becoming irresistible. In addition, the early availability of cheap computing power encouraged pioneering work in the United States to achieve savings from more efficient use of the banking system. The creative use of the emerging technology, which had been developed for other purposes, and paid for by other industries' research budgets, was fundamental to the progress of electronic banking and the significant savings achieved thereby. The American banks did not have it all their own way. The first ATMs in the world were introduced to the public in the United Kingdom by Barclays Bank in 1969. Once customers became familiar with them, they spread rapidly. By 1985, 160,000 units were run by banks worldwide, with about 9,000 in the United Kingdom (Deakin, Goddard & Welch, 1999).

ATM systems of most of the banks in the country are delegated to third parties who supply the ATM machine and the

Their agreements (agree & strongly agree) with the SERVQUAL statements touching the cut off score (4 & 5) used in 5 point Likert Scale is considered as satisfied in this study. The study shows that customers conceive this bank as reliable in getting accurate promised services, problem solving and in maintaining error free record. They also believe that there is assurance of competency, courtesy, credibility & security by the bank. They are also satisfied by the tangible appearances of the bank. But the customers are not enough satisfied in getting personal attention and they think that employees do not understand their specific needs. The unweighted SERVQUAL score of 4.27 and weighted score or Customer Satisfaction Index of 4.25 indicates a satisfactory state in the overall level of customer satisfaction.

Hypothesis 3: The compatibility of ATM Cards with the adopter’s values does not positively affect the attitude towards using the technology.

Similarly, banking products such as insurance, property and financial investments, which till a decade or so ago required cumbersome processes and paperwork are now conveniently possible with a few clicks on your mobile phones. Cash withdrawals have shifted from the branches to the popular cash machines (ATMs) with their ubiquitous presence all over the country and in most places around the World. This has resulted in shutting down of several bank branches and corresponding cost reduction. The remaining branches are being retooled for branding and merchandising in high streets as well as meeting places for retail customers dealing with more complex products such as financial investments and mortgages. Whereas footfalls at bank branches started falling in the 1990s with the spread of ATMs this trend was further augmented with the Phone Banking service introduced around the same time which allowed customers to talk to a bank representative 24/7 all days of the year for a range of services. This service became popular for speedy and convenient service delivery, however, over the last few years is reported to being seen in a decline as new technologies are taking over.

This paper provides an insight analysis on this aspect. The research will assist bank administration to ascertain a better understanding of consumer perceptions of automated services in bank’s products offering

Automatic Teller Machine is the most popular devise in India, which enables the customers to withdraw their money 24 hours a day 7 days a week. It is a devise that allows customer who has an ATM card to

Over the last few decades information technology has played an important role in Indian economy. It has affected all the industries especially the banking industry and has provided a way for the banks to differentiate their products and services. The traditional way of financial services delivered to customers called the branch based operations which had been used by the banks for more than 200 years, has been replaced by the advent of multiple technologies and application. For instance, Automated Teller Machine (ATM) displaced cashier tellers, telephone represented by call centers replaced the bank branch, the internet replaced mail, credit cards and electronic cash replaced bank transactions. The reason was the numerous key advantages that banks could gain by providing electronic banking services. In this way they had lower transactions cost, 24 hour trading, more extended business territory and also increased efficiency in daily banking process. The Banking Sector is also facing very stiff competition. In order to succeed such competition, they must offer a wide array of products with the latest technology. At present many banks and financial institutions are actively developing new electronic banking products for their customers throughout the world (Alagheband 2006) . The key players of banking industry are its customers and all the efforts made by the banks are to satisfy the desirable needs of