Role of Demographic Factors in the usage of Digital Banking Services An Empirical Analysis

Abstract

Purpose: The study aims to analyse the impact of demographic factors (age, gender, income, education, marital status, domicile, and duration of usage) on the usage of digital banking services. Generally, the demographic data are considered relevant as the organisations plan their business activity according to the perspective of the demographics of the people.

Design/Methodology/Approach: The study is empirical in nature and is based on the analysis of primary data from the respondents of public and private sector banks. A total of 637 responses were selected as a sample comprising respondents from the users of Public (347) and Private (290) sector banks. The data for the study is collected via a questionnaire, which contains questions about demographic factors (age, gender, monthly income, education, marital status, domicile, and work experience). The collected data is presented in the form of figures and tables to provide an enhanced understanding of the results.

Findings: From the analysis it can be concluded that a greater number of male members are using digital banking services in the public sector and more female members are using in the private sector banks. Further, it is also observed that three-fourths of respondents who are making use of digital banking services are less than 50 years of age. It is also observed that the higher the level of education, the higher is the level of usage of e-banking services by the customers of both the public and private sector banks. The maximum number of respondents using digital services in both public and private sector banks are from urban areas and are married.

Originality/Value: The findings of the study will help to understand the customer perceptions towards the digital banking services of commercial banks. The findings of this study will be helpful to the policymakers in the banking sector.

Paper Type: Empirical Research Paper