Social Media Usage in Indian Banking and Financial Institutions

Abstract

Due to technological innovation, the economy is transitioning from a market-driven to a network-oriented status, and social media has seized the leading I.T. trends in the technology sector. A paradigm change in banking and finance operations has occurred due to the upswing in innovation, transformation, and digitalisation in Indian banking and financial organisations. The development of online banking, mobile apps, mobile banking, and tools like debit and credit cards has changed how customers utilise banking and financing services. Thanks to social media and digital marketing, banks may now be practical tools for supporting customers' enterprises and gaining target prospects. To provide customers with rapid and efficient service in the post-pandemic age, Indian banks and financial institutions are rushing to modernise their technology infrastructure and digital goods. Social media offers users attractive options for 24-hour access to information and the use of financial services across temporal and geographic boundaries.