The Role Of Digital Banking Features In Bank Selection An Analysis Of Customer Preferences For Online And Mobile Banking

Authors

DOI:

https://doi.org/10.70937/faet.v1i01.10

Keywords:

Digital Banking, Bank Selection, Customer Preferences, Online Banking, Mobile Banking, Customer Satisfaction

Abstract

This study explores the critical factors influencing the adoption and effectiveness of digital banking, focusing on customer preferences, technological advancements, and external pressures such as market competition and the COVID-19 pandemic. By conducting a systematic literature review of 112 peer-reviewed articles, this research examines key themes, including convenience, security, personalization, competitive innovation, and resilience during crises. The findings reveal that user-friendly interfaces, 24/7 availability, and seamless transaction processing are primary drivers of customer satisfaction and loyalty. Robust security measures, such as encryption and multi-factor authentication, and transparency in data usage policies play pivotal roles in fostering trust. Personalization, enabled by AI and data analytics, emerged as a significant factor in enhancing user experience and retention, though privacy concerns remain a challenge. Furthermore, the review highlights how market competition drives technological innovation, with traditional banks adopting blockchain, AI, and biometrics to maintain a competitive edge. The pandemic served as a catalyst for digital adoption, compelling banks to rapidly enhance their digital infrastructure to meet evolving customer needs. By synthesizing these insights, this study not only validates existing research but also identifies gaps and areas for future exploration, such as the ethical use of data and inclusivity in digital banking. These findings offer actionable insights for financial institutions and policymakers to optimize digital banking ecosystems for long-term growth and customer engagement.

Author Biographies

Nur Al Faisal, Assistant Professor of Finance, Texas A&M International University, Texas, USA

 

 

Janifer Nahar, Graduate Research Assistant, Department of Finance, Louisiana State University, Baton Rouge, Louisiana, USA

 

 

Md. Waliullah, Master of Science in Management Information Systems, College of Business, Lamar University, Texas, USA

 

 

Razia Sultana Borna, Master of Science in Management Information Systems, College of Business, Lamar University, Texas, USA

 

 

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Published

2024-12-03

How to Cite

Faisal, N. A., Nahar, J., Waliullah, M., & Borna, R. S. (2024). The Role Of Digital Banking Features In Bank Selection An Analysis Of Customer Preferences For Online And Mobile Banking. Frontiers in Applied Engineering and Technology, 1(01), 41–58. https://doi.org/10.70937/faet.v1i01.10