Digital Banking: Impact of Customers’ Perceived Risks and Rewards on Usage of Digital Banking in Select Public and Private Sector Banks

The book explores how customers’ perceptions influence their adoption and usage of digital banking services across different demographic profiles. It examines various dimensions of perceived risk—such as financial, security, privacy, and performance risks—as well as perceived rewards, including convenience, speed, cost-effectiveness, and accessibility. The study compares responses from customers of public and private sector banks, highlighting differences in trust, technological readiness, and satisfaction levels. The findings reveal that while rewards drive adoption, perceived risks—especially security concerns—can significantly hinder digital banking usage. The book offers strategic recommendations for banks to mitigate these risks and enhance the user experience, thereby boosting digital banking adoption across sectors.