Impact of advanced technology on banking Sector of pakistan

Abstract

This study tests the impact of advance technology on the increased performance of banks and their customers’ satisfaction. The technological advancement factors used in this study are electronic banking, internet banking, ATMs, mobile banking and telephone banking. This study is based on banking industry of Pakistan. Technological advancement impact is measured through analyzing various banking institutions and the customers associated with those banking institutions. A combined analysis is done on the banking managements and the customers of those banks to identify the enhanced performance of these institutions and direct impact on increasing customer satisfaction has been recorded in this research. Various statistical instruments have been used to figure out the relationship between advanced technology and performance of banks plus satisfaction of banking customer such as mean, standard deviation, correlation, regression. Results of these statistical analysis has been interpreted by the correlation, level of impact and significance, through a tool known as SPSS Software. It is evident through findings that advanced technology (including e-banking, internet banking, ATMS, telephone banking and mobile banking) has direct impact on the bank’s performance and satisfaction of their customers.