Evaluating Factors for Successful Technological Implementation in Indian Banking Industry using DEMATEL

Abstract

The banking system is a crucial constituent of the financial ecosystem. Over the last two decades, there is a continuous movement in the banking industry from physical banking towards digital banking. The banks have started recognising that adopting new technologies is essential to remain competitive. Yet, the process of digital transformation is slow. The paper aims to identify and analyse the factors for successful technological implementation in the Indian Banking Industry. Further, this research seeks to establish a cause-effect relationship among them using the DEMATEL approach. For the purpose of the study, twelve factors were identified that are contributing towards successful implementation of technology using literature reviews and opinion of an expert. The study highlighted the crucial component for the successful technological implementation in the Indian Banking Sector are: regulations, government support, bank size, top management support.