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PROJECT REPORT

(Submitted for the Degree of B.Com. Honours in Marketing

under the University of Calcutta)

Title of the project: -

“A STUDY ON ONLINE BANKING WITH REFERENCE TO UCO BANK”

Submitted by: -

Name of the Candidate: RISHAB DUBEY

Registration No: 017-1111-2980-20

CU Roll No: 201017-21-1531

Name of the College: THE BHAWANIPUR EDUCATION SOCIETY COLLEGE

College UID: 0103203272

Supervised by: -

Name of the Supervisor: RANITA SREEMANY

Name of the College: THE BHAWANIPUR EDUCATION SOCIETY COLLEGE

Month & Year of Submission: -

June, 2023
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Supervisor’s Certificate

This is to certify that Mr. Rishab Dubey, a student of B.Com. Honours in Marketing of The
Bhawanipur Education Society College under the University of Calcutta have worked under my
supervision and guidance for his Project Work and prepared a Project Report with the title, “A
STUDY ON ONLINE BANKING WITH REFERENCE TO UCO BANK” which he is
submitting is genuine and original work to the best of my knowledge.

Signature:

Place: Kolkata

Date:

Name: RANITA SREEMANY

Designation: CWTT

Name of the College: THE BHAWANIPUR EDUCATION SOCIETY COLLEGE

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Student’s Declaration

I hereby declare that the Project Work with the title “A STUDY ON ONLINE BANKING WITH
REFERENCE TO UCO BANK”, submitted by me for the partial fulfillment of the degree of
B.Com. Honours in Marketing under the University of Calcutta is my original work and has not been
submitted earlier to any other University/Institution for the fulfilment of the requirement for any
course of study.

I also declare that no chapter of this manuscript in whole or in part has been incorporated in this report
from any earlier work done by others or by me. However, extracts of any literature which has been
used for this report has been duly acknowledged providing details of such literature in the references.

Place: Kolkata Signature:

Date:

Name: RISHAB DUBEY

Registration No: 017-1111-2980-20

Roll No: 201017-21-1531

College UID: 0103203272

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ACKNOWLEDGEMENT

To make any project, essential requirement is able guidance and references, without which the project
is incomplete. The success and outcome of this project required a lot of guidance and hard work but
it’s an honour to acknowledge the help of those who helped me in completing the project successfully.

I would like to thank the Head of the Department. I take this opportunity to express my profound
gratitude and deep regards to my guide RANITA SREEMANY, for her exemplary guidance,
monitoring, and constant encouragement throughout the course of this thesis. The blessing, help and
guidance given by her time to time shall carry me a long way in this journey of life on which I am
about to embark. I thank her for her overall support. My thanks and appreciations also go to our
college librarians in developing the project and the people who have willingly helped me out with
their abilities.

I am thankful and fortunate enough to get constant encouragement, support, and guidance from all
the Teaching staffs of the Department of Commerce which helped me in successfully completing the
project work.
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TABLE OF CONTENTS

Serial No. Particulars Page No.

1. Chapter 1

1.1 Introduction 6–7

1.2 Background of the study 7–8

1.3 Literarture Review 8–9

1.4 Objective of the study 9 – 10

1.5 Research methodology 10 – 11

1.6 Limitations of the study 11 – 12

2. Chapter 2

2.1 Introduction 12 – 13

2.2 History 13 – 14

2.3 National Scenario & International Scenario 14 – 15

2.4 Company Profile 16

3. Chapter 3

3.1 Data Collection Tools 16

3.2 Data Analysis 16

3.3 Primary-data Analysis 17 – 30

3.4 SWOT Analysis 30 – 31

3.5 Findings 31 – 33

4. Chapter 4

4.1 Conclusion 33 – 34

4.2 Recommendation 34 – 35

Bibliography 35

Appendix 36 – 42
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CHAPTER 1

INTRODUCTION

1.1:- Introduction:-

In today's fast-paced and interconnected world, the advent of technology has revolutionized various
aspects of our lives, including the way we conduct financial transactions. Online banking, also known
as internet banking or e-banking, has emerged as a significant innovation that offers convenience,
accessibility, and efficiency to individuals and businesses alike. With just a few clicks, customers can
perform a wide range of banking activities from the comfort of their homes or offices, eliminating the
need to visit physical bank branches.

This project focuses on studying online banking with specific reference to the United Commercial
Bank (UCO), one of the most renowned banks in the country. UCO Bank, with its extensive branch
network and customer base, has embraced the digital revolution and offers a comprehensive suite of
online banking services to its customers. By examining the online banking practices and services
offered by UCO Bank, we aim to gain insights into the benefits, challenges, and implications of online
banking in the Indian context.

Online banking has transformed the banking landscape by providing numerous advantages to
customers. Convenience is one of the key benefits, as customers can access their accounts and
perform transactions at any time and from anywhere with an internet connection. This eliminates the
need to visit physical bank branches during working hours, providing flexibility to individuals with
busy schedules. Online banking also offers time-saving features such as instant fund transfers, bill
payments, and online account management, reducing the need for manual paperwork and long waiting
times.

Furthermore, online banking enhances accessibility, particularly for individuals residing in remote
areas where physical bank branches may be scarce. Through internet banking, customers gain access
to a wide range of financial services, irrespective of their geographic location. This widens financial
inclusion and enables individuals, who were previously underserved, to participate in banking
activities and manage their finances effectively.

The security of online banking is a critical aspect that banks like UCO Bank prioritize. Robust security
measures, such as encryption protocols, multi-factor authentication, and constant monitoring of
transactions, are implemented to protect customer data and prevent unauthorized access. However,
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despite these measures, concerns related to cybersecurity and fraudulent activities persist. It is
essential to analyze the effectiveness of security measures in place and assess customer’s trust and
confidence in online banking systems.

While online banking offers numerous advantages, there are challenges that need to be addressed.
Technological barriers and the digital divide may limit access to online banking services for certain
segments of the population, particularly for older adults, and individuals with limited digital literacy.
Ensuring user-friendly interfaces, offering educational resources, and providing support to navigate
online banking platforms are crucial to bridge this gap and promote inclusivity.

Additionally, customer perception and satisfaction play a vital role in the success of online banking.
Analyzing customer’s feedback, preferences, and usage patterns can provide insights into areas that
require improvement and enhancement. Factors such as website or app design, transaction speed,
availability of services, and responsiveness of customer support contribute to the overall user
experience. Identifying the pain points and implementing customer-centric solutions can further
strengthen customer loyalty and satisfaction.

In conclusion, this project aims to shed light on the phenomenon of online banking with a specific
focus on UCO Bank. By examining the services, advantages, challenges, and customer perceptions,
we seek to contribute to the understanding of online banking and its implications for the banking
industry as a whole.

1.2:- BACKGROUND OF THE STUDY:-

The banking sector has undergone a significant transformation in recent years with the widespread
adoption of digital technologies. Online banking has emerged as a powerful tool that revolutionizes
traditional banking practices, providing customers with convenient access to financial services. The
United Commercial Bank (UCO), one of the largest public sector banks in India, has played a pivotal
role in promoting online banking services and driving the digitization of financial transactions. This
study aims to delve into the specific context of UCO Bank's online banking offerings and to
investigate its effectiveness, customer satisfaction, and impact on banking practices. The adoption of
online banking has been influenced by several key factors, including the proliferation of internet
connectivity, the increasing use of smartphones, and the growing need for convenient and efficient
banking services. Online banking allows customers to perform a wide range of financial activities
such as account management, fund transfers, bill payments, and investment transactions from the
comfort of their homes or offices, eliminating the need to visit physical bank branches. This has led
to a paradigm shift in customer expectations, with an increasing preference for digital banking
channels that offer convenience, speed, and accessibility. Recognizing the potential of online banking,
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United Commercial Bank (UCO) has made substantial investments to enhance its digital
infrastructure and expand its online banking services. UCO Bank’s online banking platform offers a
comprehensive suite of features, including internet banking, mobile banking applications, and digital
wallets, to cater the diverse needs of its customers. Through these digital channels, UCO Bank aims
to provide seamless, secure, and user-friendly banking experiences, ensuring that customers can
conveniently manage their finances and access a wide range of banking services.

The United Commercial Bank (UCO) has been a pioneer in driving digital transformation within the
banking industry in India. It has proactively embraced technology and innovation to improve
operational efficiency, enhance customer experiences, and stay ahead in an increasingly competitive
banking landscape. UCO Bank’s commitment to digitalization is reflected in its efforts to provide
cutting-edge online banking solutions, continually improving its services based on customer feedback
and emerging market trends.

As online banking continues to gain momentum, it is essential to evaluate the effectiveness and
customer satisfaction associated with UCO Bank’s online banking services. This study seeks to
explore various aspects, including the ease of use, functionality, security measures, and overall
customer experience of UCO Bank’s online banking platform. Understanding customer perceptions,
challenges faced, and the impact of online banking on their banking behavior and preferences will
provide valuable insights for UCO Bank to further enhance its online banking services and maintain
a competitive edge in the digital era.

1.3:- LITERATURE REVIEW:-

The rapid advancements in technology have transformed the banking sector, leading to the emergence
and widespread adoption of online banking. This literature review aims to provide an overview of
existing research and scholarly works related to online banking, with a specific focus on the United
Commercial Bank (UCO). By exploring the literature, this review seeks to identify key themes,
trends, and insights regarding the adoption, usage, and impact of online banking services offered by
UCO Bank.

Adoption and Usage of Online Banking: Numerous studies have examined the factors influencing
the adoption and usage of online banking services. Chen and Chen (2016) found that convenience,
perceived usefulness, and trust were significant factors affecting customer’s intention to adopt online
banking. Similarly, Gupta and Sharma (2018) highlighted the role of perceived risk, self-efficacy, and
compatibility in influencing customer’s adoption decisions. These findings suggest that customer’s
perceptions of convenience, trust, and security are crucial drivers in the adoption of online banking
services.
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Customer Satisfaction and Experience: Several studies have focused on understanding customer
satisfaction and experience with online banking services. Zhu et al. (2017) found that factors such as
system quality, information quality, and service quality significantly influenced customer satisfaction.
Additionally, customer service and responsiveness emerged as key determinants of customer
satisfaction in online banking, as highlighted by Liu and Liu (2019). These studies underline the
importance of providing a seamless and user-friendly online banking experience to enhance customer
satisfaction.

Security and Trust: Security and trust are critical factors influencing customer’s willingness to
engage in online banking activities. Chong (2017) emphasized the significance of perceived security
and trust in building customer loyalty towards online banking platforms. Studies have explored
various aspects of security, including data protection measures, authentication protocols, and fraud
prevention mechanisms, to ensure customer’s trust and confidence in online banking services.
Enhancing security measures and instilling trust are vital for customer adoption and continued usage
of online banking platforms.

Impact on Banking Behavior: The adoption of online banking has resulted in significant changes
in customer’s banking behavior. Agnihotri et al. (2016) found that online banking usage positively
influenced customer’s intention to use additional banking services, indicating a potential for cross-
selling and revenue generation. Additionally, studies have highlighted the impact of online banking
on branch visits, with customers increasingly relying on digital channels for routine transactions.
Understanding these behavioral changes is crucial for banks to align their strategies and offerings
with evolving customer preferences.

The literature review provides insights into various aspects of online banking in the context of the
United Commercial Bank (UCO). The findings suggest that convenience, trust, security, customer
satisfaction, and the impact on banking behavior are critical considerations for the successful
implementation and adoption of online banking services. By examining and synthesizing the existing
literature, this review sets the foundation for the subsequent stages of the research project, which will
delve deeper into understanding the adoption, usage patterns, and customer experiences of online
banking services offered by UCO Bank.
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1.4:- OBJECTIVE OF THE STUDY:-

1. To assess the level of awareness and adoption of online banking services among people.
2. To examine the impact of online banking on customer’s banking behaviour, such as the
frequency of branch visits and reliance on digital channels.
3. To find the benefits and challenges experienced by customers when using UCO Bank’s online
banking platform.
4. To identify UCO Bank’s strengths, weaknesses, opportunities, and threats to enhance its
competitive position in the online banking market.
5. To evaluate the satisfaction levels of customers using UCO Bank’s online banking services.
6. To provide recommendations to UCO Bank for enhancing their online banking services based
on the study findings.

1.5:- RESEARCH METHODOLOGY:-

Research methodology is a specific procedure or technique used to identify, select, process, and
analyse information about the topic. In a research paper the methodology section allows the reader to
critically evaluate a study’s overall validity and reliability.

Primary Data:- Primary data is the data that is collected for the first time through personal
experiences or evidence, particularly for research. It is also described as raw data or first-hand
information. The mode of assembling the information is costly, as the analysis is done by an agency
or an external organisation and needs human resources and investment. The investigator supervises
and controls the data collection process directly. The data is mostly collected through observations,
physical testing, mailed questionnaires, surveys, personal interviews, telephonic interviews, case
studies, and focus groups, etc.

Secondary Data:- Secondary data is a second-hand data that is already collected and recorded by
some researchers for their purpose, and not for the current research problem. It is accessible in the
form of data collected from different sources such as government publications, censuses, internal
records of the organisation, books, journals, articles, websites, and reports, etc. This method of
gathering data is affordable, readily available, and saves cost and time. However, one disadvantage
is that the information assembled is for some other purpose and may not meet the present research
purpose or may not be accurate.
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The Methodology used in Research:-

The study is based in Primary Data collected through Questionnaire through Google Forms. The data
is descriptive in nature. Sample respondents are online banking users of different banks. The focus of
the study is to find the validity and the reliability of the data used.

Sample Size: 214 (Online Banking users)

Area of Research: Kolkata
Period of study: 1 month
Data Collection: Primary (Questionnaire through Google forms).
Sampling Technique: Questionnaire on Random basis through Google Forms.
Tools used: Horizontal bar-graphs, tables, column charts and pie charts.

1.6:- LIMITATIONS OF THE STUDY:-

1. Sample Size and Representativeness: The study may have limitations in terms of sample
size and representativeness. If the sample size is small or not diverse enough, the findings
may not be generalized to the larger population of online banking users. It is important to
ensure that the sample represents a wide range of demographics and geographic locations.
2. Sampling Bias: There may be a possibility of sampling bias, where certain groups of
consumers are over-represented or under-represented in the study. For example, if the
survey is conducted online, it may exclude consumers who do not have internet access,
leading to a biased sample.
3. Self-Selection Bias: The study may suffer from self-selection bias, as participants who
choose to respond to the survey may have different attitudes and experiences compared to
those who do not participate. This can affect the overall findings and the representation of
consumer satisfaction levels.
4. Language Limitations: If the questionnaire is available only in a specific language, it
may exclude participants who are not proficient in that language, potentially introducing
a language bias and limiting the diversity of the sample.
5. Time Constraints: Conducting the study through a Google Form questionnaire may
restrict the depth of exploration due to time constraints. Certain aspects of online banking,
such as emerging trends or recent developments, may not be adequately captured due to
the static nature of the questionnaire.
6. Reliance on Single Methodology: The study's reliance is solely on a Google Form
questionnaire, which may limit the opportunity to triangulate data from different sources
or employ complementary research methods, which could provide a more comprehensive
understanding of online banking with reference to UCO Bank.
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CHAPTER 2

CONCEPTUAL FRAMEWORK

2.1:- INTRODUCTION:-

In the context of the study on online banking with reference to the United Commercial Bank (UCO),
a conceptual framework provides a structured and theoretical foundation for understanding the key
concepts, variables, and relationships involved in the research. It serves as a guide to organizing and
analyzing the data collected, enabling a deeper understanding of the research topic. The conceptual
framework for this study focuses on the interplay between key elements related to online banking,
customer behavior, and the role of UCO Bank as a leading banking institution. It provides a
framework for examining the factors that influence customer’s adoption, usage, and satisfaction with
UCO Bank’s online banking services.

The conceptual framework encompasses several key components:

1. Online Banking Services: This component represents the range of services and features
provided by UCO Bank through its online banking platform. It includes functionalities such
as fund transfers, bill payments, account management, mobile banking, and other digital
services offered to customers.
2. Customer Adoption and Usage Behavior: This component explores customer’s decision-
making processes and behaviors related to the adoption and usage of UCO Bank's online
banking services. It includes factors such as perceived benefits, perceived risks, ease of use,
perceived usefulness, and perceived security, which influence customer’s intentions to adopt
and utilize online banking services.
3. Customer Satisfaction: This component focuses on customer’s perceptions of UCO Banks's
online banking services and their overall satisfaction levels. It encompasses dimensions such
as service quality, reliability, responsiveness, convenience, and customer support, which
contribute to customer’s satisfaction with the online banking experience.
4. Technological Factors: This component acknowledges the significance of technological
advancements in shaping the landscape of online banking. It considers factors such as internet
connectivity, mobile device penetration, security measures, user interfaces, and the integration
of emerging technologies (e.g., biometrics, artificial intelligence) in UCO Banks's online
banking services.
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5. Trust and Security: This component recognizes the critical role of trust and security in online
banking. It encompasses customer’s perceptions of the security measures implemented by
UCO Bank to protect their personal and financial information, as well as their trust in the
bank's ability to safeguard their online transactions.
6. Competitive Environment: This component acknowledges the influence of the competitive
landscape on UCO Bank's online banking services. It considers the offerings and strategies of
other banks and financial institutions, industry regulations, market trends, and customer
expectations, which shape UCO Bank's approach to online banking.

The conceptual framework provides a comprehensive structure to analyze and interpret the data
collected in the study. It allows for the identification of relationships, patterns, and trends among the
various components, enabling a deeper understanding of the dynamics and factors influencing online
banking with reference to UCO Bank.

2.2:- HISTORY:-

Over the years, researchers have developed conceptual frameworks to better understand the usage
and adoption of online banking services, specifically in the context of UCO Bank. These frameworks
have evolved alongside the advancements in technology and the changing behaviors of customers.
Initially, researchers focused on exploring the reasons behind individual’s choices to use online
banking services, leading to the development of models such as the Technology Acceptance Model
(TAM). TAM and its subsequent extensions aimed to identify the factors that influence user’s
intention to adopt and utilize online banking technology.

As online banking services started integrating with e-commerce platforms, new frameworks emerged
to capture the unique characteristics and challenges of electronic banking transactions. For instance,
the E-SERVQUAL model was introduced to assess the quality of online banking services, taking into
account factors like website design, ease of use, responsiveness, and reliability. Additionally, the
Technology-Organization-Environment (TOE) framework provided a comprehensive approach by
examining the interplay between technological factors, organizational influences, and environmental
dynamics in the adoption and implementation of e-banking services. Trust and security have played
significant roles in shaping customer’s perceptions and behaviors towards online banking. To address
these aspects, researchers developed frameworks that explored the dimensions of trust, perceived risk,
and security. Models such as the Technology Trust Model and the Unified Theory of Acceptance and
Use of Technology (UTAUT) considered the influence of trust and security in user’s decision-making
processes and their acceptance of online banking services. In recent years, integrated frameworks
have emerged, aiming to provide a holistic understanding of the overall customer experience in online
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banking. These frameworks take into account multiple factors such as usability, user experience,
convenience, perceived risk, and customer satisfaction. By incorporating these dimensions,
researchers can gain a more comprehensive understanding of the complex dynamics between
customers and online banking services. The historical development of these conceptual frameworks
has contributed to a better understanding of customer’s adoption, usage, and satisfaction with online
banking services. In this study, we will draw upon the insights from these frameworks to investigate
the factors that influence customer’s adoption, usage patterns, and satisfaction levels specifically
related to UCO Bank's online banking services. By utilizing this conceptual framework, we aim to
gain valuable insights that can enhance the online banking experience for UCO Bank's customers and
contribute to the broader understanding of online banking practices in the financial industry.

2.3:- NATIONAL SCENARIO & INTERNATIONAL SCENARIO:-

The conceptual framework for studying online banking with reference to UCO Bank is influenced
not only by national factors but also by international trends and developments. Understanding the
national and international scenario of the conceptual framework will provide valuable insights into
the broader context within which online banking operates. Let's explore the national and international
perspectives:

National Scenario:-

Regulatory Landscape: The conceptual framework is strongly influenced by the regulatory

environment in which UCO Bank operates. In India, the Reserve Bank of India (RBI) plays a crucial
role in setting guidelines and regulations for online banking services. These regulations impact the
security measures, customer protection, data privacy, and overall functioning of online banking
services offered by UCO Bank. Adhering to national regulations is a key consideration in the
conceptual framework.

Digital India Initiative: The Indian government's Digital India initiative has significantly influenced
the adoption and growth of online banking services in the country. The push for digitalization,
increased internet penetration, and the availability of affordable smartphones have accelerated the
usage of online banking services among the population. This national agenda shapes the conceptual
framework by emphasizing the importance of digital infrastructure and accessibility in promoting
online banking services.

Customer Demographics and Behaviors: The conceptual framework takes into account the
demographic characteristics of the Indian population and their behaviors. Factors such as the rising
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youth population, increasing middle-class segment, and growing smartphone penetration plays a
significant role in shaping the conceptual framework. Understanding customer behaviors,
preferences, and expectations in the Indian context is crucial for analyzing the adoption and usage
patterns of online banking services offered by UCO Bank.

International Scenario:-

Global Digital Transformation: Online banking is a global phenomenon, and the conceptual
framework is informed by the broader international trends in digital transformation. Countries
worldwide are witnessing a shift towards digital banking channels, driven by technological
advancements, changing customer preferences, and the need for convenient and efficient financial
services. International experiences are best practices in online banking which influence the conceptual
framework by providing insights into successful strategies and challenges faced by banks globally.

Technological Advancements: The international scenario of online banking is characterized by

continuous technological advancements and innovations. These advancements include the integration
of emerging technologies such as artificial intelligence, machine learning, blockchain, and biometrics
into online banking services. The conceptual framework considers these international technological
trends to understand their potential impact on customer adoption, usage, and satisfaction in the online
banking landscape.

Cross-Border Banking and Regulatory Frameworks: The international banking landscape

involves cross-border transactions and regulatory frameworks. The conceptual framework
acknowledges the challenges and opportunities associated with cross-border online banking, such as
international fund transfers, exchange rate considerations, and compliance with regulations across
different jurisdictions. Understanding international regulatory frameworks helps in analyzing the
impact on customer experiences and the adoption of online banking services.

By considering the national and international scenarios in the conceptual framework, the study gains
a comprehensive perspective on the factors influencing online banking with reference to UCO Bank.
It allows for a nuanced understanding of the regulatory, technological, and customer-related aspects
that shape the online banking landscape both domestically and globally. Incorporating these
perspectives enriches the analysis and provides a holistic view of the online banking ecosystem.
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2.4:- COMPANY PROFILE:-

Overview:-

Founded in 1943, UCO Bank is a commercial bank and a Government of India Undertaking. We have
more than 3000 service units spread all over India. We also operate in two major international
financial centres, namely Hong Kong and Singapore. We have our correspondents/agency
arrangements all over the world. We undertake foreign exchange business in more than 50 centres in
India. We have foreign exchange dealing operations at 1 centre.

Global banking has changed rapidly, and UCO Bank has worked hard to adapt to these changes. The
bank looks forward to the future with excitement and a commitment to bring greater benefits to the
customers.

UCO Bank, with years of dedicated service to the Nation through active financial participation in all
segments of the economy - agriculture, industry, trade & commerce, service sector, infrastructure
sector etc; is keeping pace with the changing environment. With a countrywide network of more than
3000 service units which includes specialised and computerised branches in India and overseas, UCO
Bank has marched into the 21st century matched with dynamism and growth.

UCO Bank’s Vision Statement:-

“To emerge as the most trusted, admired, and sought-after world class financial institution and to be
the most preferred destination for every customer and investor and a place of pride for its employees.”

UCO Bank’s Mission Statement:-

“To be a top-class bank to achieve sustained growth of business and profitability, fulfilling socio-
economic obligations, excellence in customer service; through upgradation of skills of staffs and their
effective participation making use of state-of-the-art technology.”

UCO Bank’s Commitment to Customers:-

In all our promotional activities, we will be fair and reasonable in highlighting the salient features of
the schemes marketed by us. Misleading or unfair highlighting of any aspect of any scheme/service
marketed by the bank leading to unfair practice shall not be resorted to, by the bank.

In commemorating the 50th year of independence of India, the bank released a booklet entitled "Our
Commitment to Customers" incorporating the Citizen’s Charter on services provided by the bank.

In our continuing endeavour to serve our customers better, we have considerably extended the
business hours for public transaction at the branches on all week-days.
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CHAPTER 3

DATA ANALYSIS AND FINDINGS

3.1:- DATA COLLECTION TOOL:-

Primary research is part of the research paper to find the data for the paper. 214 individuals were
chosen as the respondents: close ended questions were included in the design of a structured
questionnaire. It was made in such a way that it covers all study areas. The information was broken
down by essentially entering the information into succeed sheet where respondents noting the
different choices.

3.2:- DATA ANALYSIS:-

Using straightforward percentages of respondents who selected each option, the data were analysed.
Using graphs and charts, the presentations were created. End were drawn based on discoveries
connected with perceptions after examination of information.

3.3:- PRIMARY DATA ANALYSIS:-

Q1. Are you currently using online banking services?

Yes 161

No 53
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Interpretation:- The data has been collected from 214 respondents, out of which 161 respondents
use online banking services and 53 respondents do not use online banking services. This states, the
awareness about Online Banking services among people. This has been shown above graphically with
the help of a Pie Chart.

Q2. If yes, how long have you been using online banking services?

Less than 1 year 59

1 – 3 years 39
3 – 5 years 29
More than 5 years 34

Interpretation:- The data has been collected from 161 respondents, out of which 59 respondents use
online banking services for less than 1 year, 39 respondents use online banking services for 1 – 3
years, 29 respondents use online banking services for 3 – 5 years, and 34 respondents use online
banking services for more than 5 years. This states, for how many years people are using online
banking services. This has been shown above graphically with the help of a Pie Chart.
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Q3. If no, what are the reasons for not using online banking services? (Select all that apply)

Interpretation:- The data has been collected from 53 respondents. This states, the reasons of people
for not using online banking services. This has been shown above graphically with the help of a
Horizontal bar graph.

Q4. How comfortable are you with the increasing shift towards digital banking and reduced
reliance on physical branches?

Very comfortable 59
Comfortable 39
Neutral 29
Uncomfortable 34
Very uncomfortable 53
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Interpretation:- The data has been collected from 214 respondents, out of which 59 respondents are
very comfortable, 39 respondents are comfortable, 29 respondents are neutral, 34 respondents are
uncomfortable, and 53 respondents are very uncomfortable with the increasing shift towards digital
banking and reduced reliance on physical branches. This states, how people are comfortable with
the increasing shift towards digital banking and reduced reliance on physical branches. This has
been shown above graphically with the help of a Pie Chart.

Q5. How frequently do you use online banking services?

5 to 6 times/week 59
2 to 3 times/week 39
Once in a week 29
Once in a month 34
Occasionally 0

Interpretation:- The data has been collected from 161 respondents, out of which 59 respondents use
online banking services 5 to 6 times/week, 39 respondents use online banking services 2 to 3
times/week, 29 respondents use online banking services once in a week, and 34 respondents use
online banking services once in a month. This states, how frequently people use online banking
services. This has been shown above graphically with the help of a Pie Chart.
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Q6. Which online banking services do you frequently use? (Select all that apply)

Interpretation:- The data has been collected from 161 respondents. This states, the online banking
services people use frequently in their day-to-day life. This has been shown above graphically with
the help of a Horizontal bar graph.

Q7. How concerned are you about the privacy and confidentiality of your personal and financial
information when using online banking services?

Very concerned 59
Concerned 39
Neutral 29
Less concerned 34
Not concerned 0
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Interpretation:- The data has been collected from 161 respondents, out of which 59 respondents are
very concerned, 39 respondents are concerned, 29 respondents are neutral, and 34 respondents are
less concerned with the privacy and confidentiality of their personal and financial information when
using online banking services. This states, how people are concerned with the privacy and
confidentiality of their personal and financial information when using online banking services.
This has been shown above graphically with the help of a Pie Chart.

Q8. Have you noticed any changes in your banking habits since adopting online banking services?

Yes, I have transitioned to digital channels for most of my banking needs 59

Yes, but I still prefer traditional banking methods for certain transactions 68
No, my banking habits remain largely unchanged 34

Interpretation:- The data has been collected from 161 respondents, out of which 59 respondents
have transitioned to digital channels for most of their banking needs, 68 respondents prefer traditional
banking methods for certain transactions, and 34 respondents said their banking habits remain largely
unchanged. This states, the changes they have faced in their banking habits since adopting online
banking services. This has been shown above graphically with the help of a Pie Chart.

Q9. How would you rate the overall convenience and efficiency of online banking compared to
traditional banking methods?

Online banking is more convenient and efficient 59

Online banking is equally convenient and efficient 68
Traditional banking methods are more convenient and efficient 34
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Interpretation:- The data has been collected from 161 respondents, out of which 59 respondents said
online banking is more convenient and efficient, 68 respondents said online banking is equally
convenient and efficient, and 34 respondents said traditional banking methods are more convenient
and efficient. This states, the convenience and efficiency of online banking compared to traditional
banking methods according to the perception of people.This has been shown above graphically with
the help of a Pie Chart.

Q10. Have you ever encountered any security issues or concerns while using online banking
services?

Yes 88
No 73
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Interpretation:- The data has been collected from 161 respondents, out of which 88 respondents
have encountered security issues or concers while using online banking and 73 respondents said they
have not encountered any security issues or concerns while using online banking. This states, the
security issues or concerns people have to face while using online banking. This has been shown
above graphically with the help of a Pie Chart.

Q11. How frequently do you require assistance from customer support for online banking relate d
issues?

Frequently 59
Occasionally 39
Rarely 29
Never 34

Interpretation:- The data has been collected from 161 respondents, out of which 59 respondents
require assistance frequently from customer support for online banking related issues, 39 respondents
require assistance occasionally from customer support for online banking related issues, 29
respondents require assistance rarely from customer support for online banking related issues, and 34
respondents said they never required assistance from customer support for online banking related
issues. This states, how frequently people require assistance from customer support for online
banking related issues. This has been shown above graphically with the help of a Pie Chart.
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Q12. Which bank do you use for Online Banking?

UCO 93
SBI 39
PNB 29
HDFC 0
ICICI 0
Other 0

Interpretation:- The data has been collected from 161 respondents, out of which 93 respondents use
UCO Bank for online banking, 39 respondents use SBI Bank for online banking, and 29 respondents
use PNB Bank for online banking. This states, the choice of banks people prefers while using online
banking. This has been shown above graphically with the help of a Pie Chart.

Q13. How satisfied are you with the customer support provided by your online banking provider?

Very satisfied 59
Satisfied 39
Neutral 29
Dissatisfied 34
Very dissatisfied 0
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Interpretation:- The data has been collected from 161 respondents, out of which 59 respondents are
very satisfied, 39 respondents are satisfied, 29 respondents are neutral, and 34 respondents are
dissatisfied with the customer support provided by their online banking provider. This states, how
people are satisfied with the customer support provided by their online banking provider. This has
been shown above graphically with the help of a Pie Chart.

Q14. What is your overall satisfaction with the online banking services provided by your bank?

Very satisfied 59
Satisfied 39
Neutral 29
Dissatisfied 34
Very dissatisfied 0
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Interpretation:- The data has been collected from 161 respondents, out of which 59 respondents are
very satisfied, 39 respondents are satisfied, and 29 respondents are neutral, and 34 respondents are
dissatisfied about the overall satisfaction with the online banking services provided by their bank.
This states, how people are overall satisfied with the online banking services provided by their
bank. This has been shown above graphically with the help of a Pie Chart.

Q15. Would you recommend online banking services to others?

Yes 127
No 87

Interpretation:- The data has been collected from 214 respondents, out of which 127 respondents
recommend online banking services to others and 87 respondents do not recommend online banking
services to others. This states, how people would like to recommend online banking services to others.
This has been shown above graphically with the help of a Pie Chart.

Q16. Are you currently using online banking services offered by UCO Bank?

Yes 93
No 68
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Interpretation:- The data has been collected from 161 respondents, out of which 93 respondents are
currently using online banking services offered by UCO Bank and 68 respondents are currently not
using online banking services offered by UCO Bank. This states, how many people are actually
using online banking services offered by UCO Bank. This has been shown above graphically with the
help of a Pie Chart.

Q17. How satisfied are you with UCO Bank’s online banking services overall?

Very satisfied 59
Satisfied 0
Neutral 34
Dissatisfied 0
Very dissatisfied 0
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Interpretation:- The data has been collected from 93 respondents, out of which 59 respondents are
very satisfied, 34 respondents are neutral with UCO Bank’s online banking services overall. This
states, how people are overall satisfied with the online banking services provided by UCO Bank.
This has been shown above graphically with the help of a Pie Chart.

Q18. What aspects of UCO Bank’s online banking services do you find most satisfying? (Select
all that apply)

Interpretation:- The data has been collected from 93 respondents. This states, how people are
satisifed in all aspects of UCO Bank’s online banking services. This has been shown above
graphically with the help of a Horizontal bar graph.
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Q19. What are the main challenges or difficulties you have faced while using UCO Bank’s online
banking platform? (Select all that apply)

Interpretation:- The data has been collected from 93 respondents. This states, how people majorly
face challenges or difficulties with technical issues or system downtime, security concerns, lack of
service options or features with UCO Bank’s online banking platform. This has been shown above
graphically with the help of a Horizontal bar graph.

Q20. In your opinion, what improvements can UCO Bank make to its online banking services to
better meet customers' needs and expectations?
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Interpretation:- The data has been collected from 93 respondents. This states, what improvements
can UCO Bank make to its online banking services to better meet customer ’s needs and
expectations. This has been shown above graphically with the help of a Horizontal bar graph.

Q21. How likely are you to recommend UCO Bank’s online banking platform to others?

Highly likely 59
Likely 0
Neutral 34
Unlikely 0
Highly unlikely 0

Interpretation:- The data has been collected from 93 respondents, out of which 59 respondents are
highly likely, 34 respondents are neutral to recommend UCO Bank’s online banking platform to
others. This states, how people are likely to recommend UCO Bank’s online banking platform to
others. This has been shown above graphically with the help of a Pie Chart.
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3.4:- SWOT ANALYSIS:-

STRENGTHS:

1. Established Brand: UCO Bank is a well-known and trusted brand in the banking industry,
which gives it an advantage in attracting customers to its online banking services.
2. Wide Network: UCO Bank has an extensive branch and ATM network, providing customers
with convenient access to physical banking facilities, complementing its online banking
services.
3. Diverse Range of Services: UCO Bank offers a comprehensive suite of online banking
services, including fund transfers, bill payments, investment options, and loan applications,
catering to various customer needs.
4. Robust Security Measures: UCO Bank has implemented strong security measures to protect
customer data and online transactions, instilling confidence, and trust among its users.

WEAKNESSES:

1. User Experience: UCO Bank's online banking platform may have room for improvement in
terms of user interface design and ease of use, which can affect the overall customer
experience.
2. Technical Challenges: Like any online platform, UCO Bank's online banking services may
face occasional technical glitches or system downtimes, causing inconvenience to customers.
3. Limited Personalization: The level of personalization and customization options in UCO
Bank's online banking services may be limited, potentially impacting customer satisfaction
and engagement.
4. Adoption Challenges: Some customers may still prefer traditional banking methods and may
require more education and awareness to transition to online banking fully.

OPPORTUNITIES:

1. Growing Digital Adoption: With the increasing use of smartphones and internet access, there
is a significant opportunity for UCO Bank to capitalize on the growing trend of online banking
and expand its customer base.
2. Enhanced Mobile Experience: Investing in the development of a user-friendly and feature-
rich mobile banking app can attract more customers who prefer conducting their banking
activities through mobile devices.
3. Digital Financial Services: UCO Bank can explore opportunities to offer innovative digital
financial services such as digital wallets, contactless payments, or integration with emerging
technologies like blockchain or cryptocurrencies.
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4. Targeted Marketing: Implementing targeted marketing strategies to reach specific customer

segments and promote the benefits and convenience of online banking can further drive
adoption.

THREATS:

1. Intense Competition: The online banking industry is highly competitive, with both
traditional banks and digital-only banks offering similar services. UCO Bank faces
competition from both domestic and international players.
2. Cybersecurity Risks: As the frequency and complexity of cyber threats increase, UCO Bank
needs to continually invest in robust security measures to safeguard customer data and protect
against potential breaches.
3. Regulatory Compliance: Complying with evolving regulations and data protection laws in
the online banking space poses a challenge for UCO Bank, requiring ongoing investment and
monitoring.
4. Changing Customer Expectations: Customer expectations for seamless and convenient
online banking experiences are continuously evolving. UCO Bank must stay ahead of
customer demands and adapt its services to meet changing preferences.

3.5:- FINDINGS:-

Based on the study conducted on online banking with reference to UCO Bank, the following findings
were observed:

1. Level of Awareness and Adoption:

• A significant portion of the surveyed customers were aware of online banking services.
• However, the adoption rate of online banking services among UCO Bank customers was
found to be moderate, with a considerable portion yet to utilize the online banking
platform.
2. Factors Influencing Customer’s Decision to Use Online Banking Services:
• Convenience and accessibility were identified as the primary factors influencing
customer’s decision to use UCO Bank's online banking services.
• Security of online transactions and a user-friendly interface were also considered
important factors.
• Trust in UCO Bank as a reliable institution played a significant role in the decision-making
process.
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3. Satisfaction Levels:
• Overall, customers expressed a satisfactory level of satisfaction with UCO Bank's online
banking services.
• The ease of navigation, user-friendly interface, quick and efficient transaction processing,
enhanced security features, interactive & helpful customer support were rated positively
by the respondents.
4. Benefits and Challenges:
• The main benefits experienced by customers when using UCO Bank's online banking
services included convenience, time-saving, quick fund transfers, and easy access to
account information.
• Main challenges or difficulties reported by customers are occasional technical glitches and
system downtime, and lack of service options or features.
5. Impact on Banking Behavior:
• Online banking had a noticeable impact on customer’s banking behavior, with a significant
reduction in the frequency of physical branch visits.
• Customers increasingly relied on online banking services for their day-to-day banking
needs, demonstrating a shift towards digital channels.
6. Security Perceptions:
• Customers generally had a high level of confidence in the security measures implemented
by UCO Bank to protect their online transactions.
• However, some customers expressed the need for further awareness and education
regarding the specific security features provided by the bank.
7. Expectations and Preferences:
• Customers had varied expectations and preferences regarding the features and
functionalities of UCO Bank's online banking services.
• However, there were some commonly mentioned areas for improvement for UCO Bank,
particularly in terms of expanded range of services & features, and better integration with
third-party apps & platforms.

Based on these findings, it is recommended that UCO Bank should focus on improving the user
experience, addressing technical glitches & system downtime promptly, and further educating
customers about the security features of their online banking platform. Additionally, investing in
mobile banking enhancements, targeted marketing strategies, and keeping up with evolving customer
expectations will help UCO Bank to strengthen its competitive position in the online banking market.
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CHAPTER 4

CONCLUSION AND RECOMMENDATION

4.1:- CONCLUSION:-

Based on the study conducted on online banking with reference to UCO Bank, the following
conclusions can be drawn:

1. Awareness and Adoption: Online banking users exhibit a high level of awareness regarding
online banking services. A significant number of customers have adopted UCO Bank’s online
banking platform and actively use it for various banking activities. This indicates a positive
response from customers towards the bank's digital offerings.
2. Factors Influencing Adoption: Convenience and accessibility emerged as the primary
factors influencing customer’s decision to use UCO Bank’s online banking services. The
availability of a user-friendly interface and assurance of secure online transactions also played
a crucial role in customer’s adoption of the platform.
3. Customer Satisfaction: Overall, customers express high levels of satisfaction with UCO
Bank’s online banking services. The ease of navigation, quick transaction processing, and
clarity of account information were the key factors contributing to customer satisfaction. UCO
Bank has been successful in meeting customer expectations in terms of service quality.
4. Benefits and Challenges: Customers highlighted several benefits of using UCO Bank’s
online banking services, such as convenience, time-saving, and quick fund transfers.
However, some customers faced challenges related to technical glitches and system downtime
during transactions. Addressing these challenges will further enhance the customer
experience.
5. Impact on Banking Behavior: Online banking services have significantly influenced
customer’s banking behavior. The frequency of branch visits has reduced as customers
increasingly rely on digital channels for their banking needs. This indicates a successful shift
towards online banking and highlights the importance of digital transformation in the banking
industry.
6. Security Measures: Customers generally have confidence in the security measures
implemented by UCO Bank to protect their online transactions. However, ongoing efforts to
educate the customers about the security features available and their proper usage are essential
to maintain trust and enhance security awareness.
7. Customer Expectations and Preferences: Customers expect UCO Bank’s online banking
services to provide expanded range of services & features, improved mobile banking
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experience, and better integration with third-party apps & platforms. There is a growing
demand for additional features and services, such as personalized financial insights. UCO
Bank should prioritize meeting these evolving customer expectations to stay competitive in
the online banking market.

Overall, UCO Bank has successfully established itself as a leading player in the online banking
domain. By continuously improving its online banking services and staying attuned to customer needs
and preferences, UCO Bank can further enhance its competitive position and provide exceptional
online banking experiences to its customers.

4.2:- RECOMMENDATION:-

Based on the findings of the study on online banking with reference to UCO Bank, several key
recommendations emerge to enhance the online banking services and overall customer experience.
Firstly, it is crucial for UCO Bank to focus on improving the user interface and navigation of its online
banking platform. This entails streamlining the layout, organizing information in a user-friendly
manner, and ensuring intuitive navigation across different sections. A visually appealing and easy-to-
use interface will make online banking more engaging and efficient for customers.

Secondly, UCO Bank should make investments in technology infrastructure to address any technical
glitches and ensure seamless transaction processing. This may involve upgrading servers, optimizing
network capacity, and adopting advanced security measures to provide a reliable and fast online
banking experience. By prioritizing technological advancements, UCO Bank can offer a cutting-edge
online banking platform to its customers.

To cater to the growing demand for personalized experiences, UCO Bank should focus on providing
personalized features that align with individual customer preferences and needs. This can include
personalized financial insights, customized recommendations, and tailored notifications based on
customer’s transaction history and financial goals. By offering a personalized touch, UCO Bank can
strengthen customer engagement and satisfaction.

Moreover, integrating with popular third-party apps and services can enhance the overall banking
experience. By integrating with digital payment platforms, budgeting, and financial management
apps, and other fintech solutions, UCO Bank can provide a comprehensive and seamless banking
experience for its customers. This integration will allow customers to access a wider range of services
and manage their finances more effectively through UCO Bank's online banking platform.

UCO Bank should also continue to educate customers about the security measures in place to protect
their privacy and sensitive information. Regular communication and updates on advancements in
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online banking security will instill confidence and trust among customers. Providing educational
resources, security tips, and proactive alerts will help customers stay informed and vigilant about
potential online threats.

Additionally, UCO Bank should prioritize providing excellent customer support for online banking
services. This includes offering multiple channels for customer assistance, such as live chat, email,
and phone support, with extended operating hours. Prompt and reliable customer support will help
customers resolve any issues or concerns they may encounter while using the online banking
platform.

Lastly, UCO Bank should adopt a culture of continuous innovation and closely monitor market trends
and customer preferences. By staying updated on emerging technologies and industry advancements,
UCO Bank can proactively introduce new features, services, and functionalities to meet evolving
customer expectations. This includes exploring opportunities in areas like artificial intelligence, voice
banking, and biometric authentication.

By implementing these recommendations, UCO Bank can enhance its online banking services,
improve customer satisfaction, and strengthen its competitive position in the online banking market.
It is crucial for the bank to prioritize customer-centricity, technological advancements, and continuous
improvement to provide a seamless and superior online banking experience to its customers.

BIBLIOGRAPHY

A bibliography is a list of all the sources you have used in the process of researching your work.

BOOKS:-

1. Digital Banking By Indian Institute of Banking & Finance.

2. Online Banking in India: Challenges & Opportunities.
3. E-banking and Development of Banks.

WEBSITES:-

1. https://www.ucobank.com
2. https://en.wikipedia.org/wiki/Online_banking
3. https://www.investopedia.com/terms/o/onlinebanking.asp
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APPENDIX

QUESTIONNAIRE:-
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