Assessing the Adoption of Technology in Banking Services in India: A Structural Equation Modeling Analysis

The adoption of technology and its integration in the banking industry has not only enhanced customer experience but work efficiency as well for banking professionals. For instance, India has also become one of those countries that is evolving by using mobile banking, online platforms, and digital solutions to improve efficiency and accessibility. Moving ahead, in the current era of the digital environment, the adoption of technology is needed for the sake of customers to get them better experiences. Therefore, doing this will support India's economy; modernize the financial sector, enhance banking efficiency, and improve not only accessibility but security as well. Therefore, the adoption and implementation of Structural Equation Modelling (SEM) has become an utmost importance for the banking industry not only to boost banking productivity, and customer happiness but also to enhance overall operational efficiency. The project assesses how different factors influence the adoption of SEM methodology through a comprehensive conceptual framework. The collected data includes the opinions of 400 customers and 100 professionals from HDFC and ICICI banks using banking technology such as structural equation modeling (SEM). The study investigates the intricate links between latent dimensions including perceived utility, perceived ease of use, organizational support, and external factors. Moving further, preliminary findings underscore the importance of perceived usefulness and ease of use as critical factors driving the adoption of financial technology in India. Also, the secondary data will be used to better understand the need for technology in financial services and how support from banks facilitates the integration of technological developments by banking institutions. In addition, external issues such as the regulatory environment, customer awareness, and infrastructural challenges are also considered to understand their impact on the technology adoption process. The main drivers and obstacles influencing the technology adoption must be understood by decision-makers, bank management, and technology suppliers. In conclusion, the goal of this research is to provide useful suggestions so that successful integration of technology can be done, supporting long-term growth and guaranteeing industry adaptation to the evolving technological environment.