The Influence of Digital Payments on Customer Onboarding in Banking: A Case Study of Madurai District

Abstract

Digital Payments play a pivotal role nowadays, not only in all arenas but especially in the banking sector. Digital payments help the banks to speed up customer onboarding process smoothly.  Cities like Madurai in Tamil Nadu are still in the early stages of using these technologies, while cities have quickly adopted them. This research interprets the influence of Digital Payments on customer onboarding process. It uses the data sourced from various the banking institutions, government sector and regional information. The study show that Digital Payments delivers good customer service, security control, and efficient financial services, especially through digital technologies and mobile applications. The study also analyses the hindrances such as data privacy, digital literacy, and technology infrastructure. The research and illustrates the impact and significance proportion of digital payments for inclusive banking in Madurai District.