Impact of Information Technology Innovations on Costumer Psyche with respect to Retail Banking in India

India is an emerging economy and the banking sector of India is in restructuring phase of IT revolution. In this competitive era, sustainability without the technology support impossible. Financial services industry is adopting growing number of new technology to attract and retain a much wider customer group with different traits. User’s individual technology readiness is a key factor determining the future sustainability of digital platform. Consumer’s intention to adjust will depend on the motivating factors i.e. benefits generated from the stated interaction. Service delivery customization, time and place convenience followed by differential pricing will encourage user to migrate to the digital platform. In this study we have collected data using an unstructured questionnaire from existing users of IT based retail banking. A sample of four hundred and twenty nine respondents from Gwalior Region using judgemental sampling technique. Cluster analysis and exploratory factor analysis techniques were used to identify the various groups and key factors leading to customer satisfaction with self service terminals in retail banking.