Abstract
Digitalisation has been taken place in banking sector, since 1995, and it took speed since 2000, again further acceleration happens since 2005, and stretched its wings and started flying since 2016. Yes, the year 1995 was instrumental for computerization popularity in banks, followed by RBI approval happened in 2000 for digitalization of bank documents. Year 2005 brought internet ATMs and further dimension of new technological innovations arrived. Demonetisation happened on November 8, 2016 created tremendous impact among all the banks to go for cashless banking. The customers were almost forced to go for cashless banking transactions. Now technological innovations go at greater speed in India. Cashless transactions become a hand burning need of the hour. Therefore, so far ignored Paytm, bank apps, NEFT transfers and such things started gaining popularity. Techno dynamism is part and parcel of our life. Not only in banks, but also in all the sectors in India, digitalization started its virtual presence and the name of “Digital India” has been popularized since 2015. Production and Marketing are the two eyes of a business venture. Such two eyes would see one object, namely, Business development. In Banking also, production and marketing of digital services are important. Production of banking services means offering bank schemes and services of bankers to the customers. Marketing of banking services means promotional services offered by bankers. In this research article, both production of digital banking services and digital marketing of banking services are dealt with. A survey from bank customers was conducted among 450 customers of 15 banks selected from Chennai, by following Multi Stage Quota Sampling method. The customers who have been using Digital banking services were contacted for this research. Prosperities, Major Hurdles, Common constraints, Improvement possibilities on Digital banking and digital marketing of banking services are all discussed elaborately in this research article. Individualised attention on customers by bankers, bank account safety, long term welfare of the customers, Information system security, Forensic accounting and auditing practices all the needs of the hour, due to the technological advancements in banking sector.