Value Propositions Affecting The Adoption Of Technological Transformation In Indian Banking

Abstract

The advent of digital disruption has significantly altered the business models of banks and conventional enterprises, primarily due to shifts in customer behavior towards value propositions. It has transcended the traditional boundaries of brick-and-mortar institutions, ushering in an era of digital finance characterized by innovation, efficiency, and accessibility. The objective of this research is to meticulously evaluate the effect of value proposition on the adoption of technological transformation in Indian banking. The chosen statistical method for hypothesis testing is regression analysis to gauge the influence of value propositions such as improving service quality, marketing strategies, and expanding merchant options, transaction charges, promotional offers and discount  etc on the adoption of technological transformation in Indian banking landscape. The findings indicate value propositions such as improving service quality, marketing strategies, and expanding merchant options etc. affect the adoption of technological transformation in Indian Banking, on the other side transaction charges and promotional discount, offers etc are not found significant. The implications of this research extend to facilitating easier access to services for customers and augmenting the overall value proposition of the banking industry. Additionally, customers are cognizant of the integration of financial technology in the banking sector, acknowledging its potential to streamline their tasks. It is observed that the existing literature on financial technology is somewhat deficient in theoretical frameworks, with ongoing efforts to address practical issues through seamless adoption and effective marketing strategies. This study is anticipated to contribute to the advancement of future research endeavors in the same domain.