212 CHAPTER – V COMPARITIVE STUDY BETWEEN SBI AND ICICI ON CUSTOMER SATISFACTION TOWARDS SELECTED I.T BASED PRODUTS AND SERVICES In this chapter an attempt is made to study the significant difference between SBI and ICICI based on customer satisfaction towards selected I.T products and services. The present study meticulously deals with the perception of customers of SBI and ICICI on ten selected I.T. based products and services. In particular the Payment System, Settlement System, Centralized Funds Management System, Structured Financial Messaging Solution, Internet System, Debit Card Management Solution, Core Banking, ATM service, Internet Banking and Mobile / SMS services are mainly focused to decide the customer’s notion on the level of satisfaction. This chapter also establishes an empirical relationship between the customers satisfaction levels on selected I.T. based products and services and their overall satisfaction in respect of SBI and ICICI customers by the application of Karl Pearson’s coefficient of correlation and paired t-Test. The overall level of satisfaction of SBI and ICICI customers is based on the variables like adoption of technology in a bank, real time response, service quality, transparent information, variety of products design and services and delivery of services, bank employee attitude, attention towards customers, regulatory norms, security and safety, service charges, care on customer convenience, quickness of service and status of bank considered as factors linked to the overall satisfaction of customers.
Transcript
212
CHAPTER – V COMPARITIVE STUDY BETWEEN SBI AND ICICI ON
CUSTOMER SATISFACTION TOWARDS SELECTED I.T
BASED PRODUTS AND SERVICES
In this chapter an attempt is made to study the significant difference
between SBI and ICICI based on customer satisfaction towards selected I.T
products and services. The present study meticulously deals with the
perception of customers of SBI and ICICI on ten selected I.T. based products
and services. In particular the Payment System, Settlement System, Centralized
Funds Management System, Structured Financial Messaging Solution, Internet
Internet Banking and Mobile / SMS services are mainly focused to decide the
customer’s notion on the level of satisfaction.
This chapter also establishes an empirical relationship between the
customers satisfaction levels on selected I.T. based products and services and
their overall satisfaction in respect of SBI and ICICI customers by the
application of Karl Pearson’s coefficient of correlation and paired t-Test.
The overall level of satisfaction of SBI and ICICI customers is based
on the variables like adoption of technology in a bank, real time response,
service quality, transparent information, variety of products design and
services and delivery of services, bank employee attitude, attention towards
customers, regulatory norms, security and safety, service charges, care on
customer convenience, quickness of service and status of bank considered as
factors linked to the overall satisfaction of customers.
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Moreover, authentication trust, privacy, availability of information,
reliability, well understood relationship, performance quality and economy
banking are also contributing factors towards the determination of overall
satisfaction.
MODEL
An empirical model applied for Customer satisfaction on Information
Technology based products and services:
The I.T. based products and services selected for the study have
expressed their level of satisfaction on these factors in Likerts five point scale
that ranges from highly satisfied to highly dissatisfied. The total average
scores of these ten factors and the total average score of overall satisfaction are
created and allowed to act as dependent variables throughout the study. It is
indispensable at this juncture to determine an empirical relationship between
the satisfaction level on Information Technology based products and services
and overall satisfaction of SBI and ICICI customers. This leads to the
application of Karl Pearson’s co-efficient model to establish the relationship
parametrically.
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Table 5.1. Correlations
OS PS Pearson Correlation .512(**) Sig. (2-tailed) .007 N 546 SS Pearson Correlation .525(**) Sig. (2-tailed) .003 N 546 CFM Pearson Correlation .664(**) Sig. (2-tailed) .007 N 546 SFM Pearson Correlation .776(**) Sig. (2-tailed) .005 N 546 IS Pearson Correlation .573(**) Sig. (2-tailed) .009 N 545 DCM Pearson Correlation .101(*) Sig. (2-tailed) .018 N 546 CB Pearson Correlation .558(**) Sig. (2-tailed) .006 N 546 ATM Pearson Correlation .262(**) Sig. (2-tailed) .000 N 545 IB Pearson Correlation .662(**) Sig. (2-tailed) .000 N 546 SMS Pearson Correlation .452(**) Sig. (2-tailed) .000 N 546
Note: PS: Payment System, SS : Settlement System, CFM :Centralized Funds Management System, SFM: Structured Financial Messaging Solution, IS: Internet System, DCM: Debit Card Management Solution, CB: Core Banking, ATM service, IB: Internet Banking and Mobile / SMS services.
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From the Table 4.1 it is interesting to observe the highest degree of positive
correlation between the structured financial message solution and the overall
satisfaction (r=0.776, p=0.005). This statistical significance implies that, in SBI
and ICICI bank the structured financial message solution is significant in
measuring the satisfaction level of the respective customers.
A high degree of significant positive correlation is observed between
the centralized funds management system and the overall satisfaction (r =0.664,
p=0.007). Based on this statistical significance, it is understood that the
centralized funds management system adopted in ICICI and SBI, is significant
in measuring the satisfaction level of the respective customers.
An examination of the above table reveals that there is also a high
degree of significant positive relationship exists between the internet banking
and the overall satisfaction (r=0.662, p=0.000). This statistical significance
indicates that in ICICI and SBI, the internet banking service is significant in
measuring the satisfaction level of the respective customers.
The internet system is also to maintain a high degree of significant
positive correlation with the overall satisfaction (r=0.573, p=0.009). Hence, it
is understood that the Internet system plays a vital role in measuring the
satisfaction level of both the SBI and ICICI bank customers.
The above table inferences that the core banking service is positively
correlated with the overall satisfaction (r=0.558, p=0.006). This relationship
gives an indication that in ICICI bank and SBI, the core banking service is
significant in measuring the satisfaction level of their customers.
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There is a significant positive close relationship between the
settlement system and the overall satisfaction (r=0.525, p=0.003). This
statistical significance implies that in SBI and ICICI, the settlement system is
significant in measuring the satisfaction level of the respective customers.
However, the payment system is also positively correlated with the
overall satisfaction (r=0.512, p=0.007). This statistical significance indicates
that the payment system implemented in ICICI and SBI, is significant in
measuring the satisfaction level of the respective customers.
It is also observed from the above table that another dimension of
Mobile / SMS service has a significant positive correlation with the overall
satisfaction (r=0.452, p=0.000). It can be concluded that, based on the above
statistical significance that the mobile / SMS service activity in SBI, ICICI
bank are significant in measuring the satisfaction level of the respective
customers.
Further, it is observed that the ATM service is positively correlated
with the overall satisfaction (r=0.262, p=0.000). This statistical significant
result supports the ATM service provided by SBI and ICICI banks. It is
significant in measuring the customers satisfaction level of the respective
banks.
It is finally stated that the Debit card management solution has a
significant positive relationship at low degree with the overall satisfaction
(r=0.101, p=0.018). The extension of this result, elicits that the debit card
management solution technique in significant in measuring the satisfaction
level of the customers related to both the banks such as SBI and ICICI.
This leads to the following empirical model influencing the overall satisfaction
(Age, Gender, Marital Status and Number of dependents).
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Fig.5.1. A MODEL OF CUSTOMER SATISFACTION ON INFORMATION TECHNOLOGY BASED PRODUCTS AND SERVICES
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Inference
The above empirical model clearly indicated the significant relationship
between the I.T. products and services and customers satisfaction in both SBI and
ICICI banks. The influence of Information Technology based products and
services are arranged numerically based on the correlation co-efficient values. It
actually denotes the measure of influence that is being created on the overall
satisfaction. Infact the model diagrammatically explained in the order of
satisfaction of Information Technology products and services in SBI and ICICI
banks. Besides these relationships, the research ascertained the influence of
independent demographic variable on the customer satisfaction in SBI and ICICI
banks.
The exploitation analysis of variance indicated the age, gender, marital
status and number of dependents in the family significantly influence the level of
satisfaction of customers in SBI and ICICI banks.
PAIRED t-TEST
A comparative study of factors influencing customers satisfaction in SBI and ICICI banks:
The present study focuses on ten Information Technology based products
and services in the dominant public sector and private sector bank. The research
instrument also focuses on measuring the overall satisfaction of the customers of
these two types of banks. In this context it is important to analyze the significant
difference between the SBI and ICICI banks, on the basis of information
technology based products and services and the overall satisfaction.
1) H1 – There is no significant difference between SBI and ICICI banks on the
satisfaction level with the respective payment system.
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Table 5.2. Independent sample Test Table – Payment System
Group Statistics
TYPE N Mean Std. Deviation
Std. Error
Mean
PS SBI 267 3.6158 .45355 .02776
ICICI 279 3.6498 .48943 .02930
Independent Samples Test
Levene's Test for Equality
of Variances t-test for Equality of Means
F Sig. t df
Sig. (2-
tailed) Mean
Difference Std. Error Difference
95% Confidence Interval of
the Difference
PS Equal variances assumed
2.763 .097 -.839 544 .402 -.03393 .04043 -
.11335 .04548
Equal variances not assumed
-.841 543.441 .401 -.03393 .04036 -
.11322 .04535
From Tables 5.2 it is found that the mean value of SBI is 3.6158 and
standard deviation is 0.45355. Similarly for ICICI bank the mean value =3.6498
and the standard deviation is 0.48943. The t-value is -0.839 and p=0.402, this
indicates that there is no significant difference between the mean values of SBI
and ICICI banks, therefore the Null hypothesis is accepted at 5% level. Hence it
can be concluded that there is no significant difference between the SBI and ICICI
banks on the satisfaction level of the payment system.
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2) H2 – There is no significant difference between the SBI and ICICI banks on the
satisfaction level with the respective settlement system.
Table 5.3. Independent Sample Test – Settlement System
Group Statistics
TYPE N Mean Std. Deviation Std. Error
Mean SS SBI 267 3.3104 .61221 .03747 ICICI 279 3.4749 .50430 .03019
Independent Samples Test
Levene's Test for
Equality of Variances t-test for Equality of Means
