




































BANGLADESH JOURNAL OF MULTIDISCIPLINARY SCIENTIFIC RESEARCH 9(2) (2024), 1-9 

 

1 

-  

     MULTIDISCIPLINARY SCIENTIFIC RESEARCH 

 
        BJMSR VOL 9 NO 2 (2024) P-ISSN 2687-850X E-ISSN 2687-8518 

 
        Available online at https://www.cribfb.com 

     Journal homepage: https://www.cribfb.com/journal/index.php/BJMSR 

                                                                                                                                                                                                    Published by CRIBFB, USA 
                                                                                                                                            

BANKERS’ PERSPECTIVE ON SOCIAL MEDIA BANKING: A STUDY 

WITH SPECIAL REFERENCE TO SELECT INDIAN BANKS           

          
 Mani Ramasamy (a)   Janakiraman Subbiah (b)    Dhrubajyoti Bordoloi (c)    Perumalraja Ramalingam (d)1       

 

(a) Assistant Professor, Department of Management, Nagaland University, India; E-mail: rmanigceb@gmail.com 
(b) Professor, Department of Banking Technology, Pondicherry University, India; E-mail: jana3376@yahoo.co.in 
(c) Assistant Professor, Department of Management, Nagaland University, India; E-mail: dhruba42@nagalanduniversity.ac.in 
(d) Assistant Professor, Department of Commerce, Nagaland University, India; E-mail: perumalrajares@gmail.com 
 

 
A R T I C L E I N F O 

 
 

Article History: 
 

Received: 4th April 2024 

Reviewed & Revised: 4th April  

to 4th June 2024 

Accepted: 5th June 2024 

Published: 10th June 2024 

 
Keywords: 

 

Bankers Perception, Indian Commercial 

Banks, ICT, Social Media and  

Social Media Banking. 

 
JEL Classification Codes: 

 

M150, G21, L86, O360 

       
      Peer-Review Model:  

 

      External peer-review was done through  

      double-blind method.        

 
A B S T R A C T 

 
Social Media Banking (SMB) is an electronic banking channel enabling users to perform their banking 

services and operations through social media. Most Indian banks use social media for advertisement, 

customer relations, and marketing communications of products and services, but only a few banks offer 

services related to social media banking. The main aim of this paper is to study the Bankers' perspective 

on Social Media Banking services provided by banks in India and the effect of demographic profiles. 

Primary data was collected through a structured questionnaire to achieve the above goal. The study 

considered selective public and private sector banks, and the significant variables were social media 

adoption in banks, benefits, and challenges of SMB. The researcher adopted a simple random sampling 
method to collect the data from 402 bank bankers who offer social media banking-related services to 

their customers, and the statistical tools used to attain the objectives of this study are the Independent 

sample t-test and ANOVA test. The study results from banking professionals whose banks offered SMB 

services showed a significant effect of demographic variables on social media adoption in banks and the 

benefits and challenges of SMB. The study's findings provide regulators and banks with insight into the 

benefits and challenges of social media banking, enabling them to implement a generalized framework 

and guidelines on social media banking. The researcher suggests to the banks that the benefits and 
challenges of social media banking pave the way to developing efficient and flawless models for their 

customers. At last, the study encourages customers to move towards social media for their relationship 

with banks and real-time grievance redressal. 

 
 

© 2024 by the authors. Licensee CRIBFB, USA. This open-access article is distributed under the 
terms and conditions of the Creative Commons Attribution (CC BY) license 
(http://creativecommons.org/licenses/by/4.0).  

            

 

INTRODUCTION 

Information and Communication Technology (ICT) services such as the World Wide Web, Wireless communications, the 

Internet and social media have changed every business tremendously since the twentieth century. On the customer side, ICT 

enabled services to transform their behaviour and afford numerous benefits. Customers benefit through online purchases in 

which they can save their time and money (Hossain & Alam, 2022). Then, the enormous growth of social media usage and 

the relevant social media tools paved the way for various business organizations to make their business outreach an effective 

strategic model (Saleem et al., 2023). Compared to traditional banking services, present-day banking, i.e., core banking 

solutions, is engulfed with multistage transformations that have evolved from paper-based to paperless transactions, 

especially with ICT-backed banking transactions. Globalization paved the way for the emergence of foreign banks with 

attractive products and services; these compelled Indian banks to move from traditional to ICT-based transactions. 

Incorporating new models has become inevitable for every entity to sustain and compete in the contemporary, competitive, 

and well-developed technology-based industry. The adoption of Online banking gained momentum during the Covid 19 for 

performing routine banking functions and effective communication channels between customers and banking personnel 

(Khan et al., 2021; Sreejesh et al., 2020). The advancement of ICT has stuck every industry worldwide in adopting new, 

modern, and updated business models to identify and satisfy customer needs through innovations. The banking industry is 

no exception to this transformation. This transformation moved the Indian banking industry towards developing more 

                                                      
1Corresponding author: ORCID ID: 0000-0002-7190-6382 
© 2024 by the authors. Hosting by CRIBFB. Peer review under the responsibility of CRIBFB, USA.  

https://doi.org/10.46281/bjmsr.v9i2.2210 

 
To cite this article: Ramasamy, M., Subbiah, J., Bordoloi, D., & Ramalingam, P. (2024). BANKERS’ PERSPECTIVE ON SOCIAL MEDIA BANKING: 

A STUDY WITH SPECIAL REFERENCE TO SELECT INDIAN BANKS. Bangladesh Journal of Multidisciplinary Scientific Research, 9(2), 1-9. 

https://doi.org/10.46281/bjmsr.v9i2.2210 

https://orcid.org/0000-0003-0638-6146
http://creativecommons.org/licenses/by/4.0/)
http://creativecommons.org/licenses/by/4.0/)
https://www.openaccess.nl/en
https://doi.org/10.46281/bjmsr.v9i2.2210
https://orcid.org/0000-0003-1818-7267
https://orcid.org/0000-0003-4354-3331
https://orcid.org/0000-0002-7190-6382


Ramasamy et al., Bangladesh Journal of Multidisciplinary Scientific Research 9(2) (2024), 1-9 

 

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innovative products and services that align with ICT for their customers. Social media, an essential element of ICT, plays a 

vital role in this tremendous technology transformation in the Indian banking sector. Most Indian banks use social media 

for advertisement, customer relations, and marketing communications, such as products and services, but only a few banks 

offer services related to social media banking. Social Media Banking (SMB) is an electronic banking channel enabling users 

to perform their banking services and operations through social media. Some of the SMB services availed in Indian 

commercial banks include View balance, Mini-statement, Monthly spend, Block ATM Debit card, fund transfer and P2P 

money transfer, etc; social media has been a great influencer on the purchase process is deep-rooted in the recent past (Jin 

& Muqaddam, 2019; Masuda et al., 2022). Though numerous technological advancements have happened in the Indian 

banking sector, customer relations and successful implementation of such advancements are possible only with the help of 

bank personnel, especially the Managers, Officers and Clerks. Bank personnel are fiduciary in customer relations, dispute 

redressal feedback systems, etc. Thus, the success of technological advancements and advocacy to the respective 

stakeholders are measured through the Banker's perspective. Here, the study conceded to using Social Media Adoption in 

banks for various reasons. The benefits and challenges of social media banking are vital variables that measure the Banker's 

perspective on social media banking services from SBI, ICICI, HDFC, and IndusInd banks. 

The Internet, mobile, and social media are booming and have become essential to people's lives and businesses' 

ability to sustain themselves in a dynamic environment. A significant impact of the banking business persists in individual 

life and country development. According to the statistics from Digital 2022: Global Overview Report, the mobile phone, 

Internet and social media users are 67 (5.31 bn), 63 (4.95 bn) and 58 (4.62 bn) per cent among the world's total population 

7.91 billion (Kemp, 2022). Thus, the social media population is more than any country in the world and provides a practical 

business environment, which furnishes motivational thought to the researcher to research social media banking services. 

The study aims to determine the reasons for Social Media adoption in banks from a banker's perspective. Another aim is to 

analyze the benefits and challenges of SMB services from a banker's perspective. The final objective is to assess the effect 

of demographic variables on Social Media adoption in banks and the benefits and challenges of Social Media Banking.  

The remaining paper structure includes Section 2, which reviews the existing literature on social media banking. 

Section 3 details the study's methodology. Results and discussions are presented in Section 4 and the study's conclusion is 

provided in Section 5. 

 

LITERATURE REVIEW 

The conceptual framework, along with the existing research work done in social media as a tool for communication and 

social media banking, is elaborated in this section. Danaiata et al. (2014) brought out the Managerial view of the usage of 

Social Media in the Mexican banking industry regarding bank presence, barriers and challenges, and purposes and benefits 

of social media in banks. The study found that Mexican banks have a strong presence (90%) in social media, but only 50 to 

60 per cent of Mexican banks face barriers and challenges in Social Media. Also, banks are using intensively social media 

for many purposes like brand strengthening, information distribution, etc., and they benefit from social media through bank 

recognition and reputation.  

N. Sharma et al. (2023) investigated the influence of social media in selecting tourist destinations. Adopting 

purposive sampling of 340 visitors at Chandigarh, Mohali, Panchkula and Delhi, the author found that factors like 

performance expectancy, perceived risk and trust, social influence, etc., are considered by the tourists to depend on social 

media in selecting the destinations. 

 S. Sharma (2023) studied the impact of the expansion of e-banking services on financial performance measures 

using a panel data analysis. The author found mixed results of effects from the study, and the author highlights that there is 

a change in consumer behaviour towards e-banking service adoption in a better way. 

 Agnihotri et al. (2022) explore the bank industry's complaints management during the pandemic using social media 

platforms. To conduct the study, 309 samples were collected using convenient and random sampling techniques. Based on 

the findings, the authors conclude that adopting better compliance handling will decrease customer retaliation and negative 

eWOM. 

 M. Sharma et al. (2022) went through the SEM and Neural Network model to analyze the impact of social media 

on the adoption of m-banking by young consumers. The study reveals that social media enormously affects consumers' 

adoption of m-banking. 

Fatma et al. (2020) investigate the importance of social media for spreading banking companies' CSR engagement 

to their customers. To fulfil the objectives, the authors collected primary data with a sample size 239. Using the SEM model, 

the study finds that disseminating CSR information on social media significantly impacts consumers' eWOM. 

Kuchciak and Wiktorowicz (2021) examine the banks' utilization of various social media platforms to provide 

financial education. The empirical study used the banks' data collected during the study period. With the help of descriptive 

and cluster analysis, the study concludes that educational information provided by banks varied from channel to channel, 

and there was a significant discrepancy in content provided by the cooperative and commercial banks. 

Charoensukmongkol and Sasatanun (2017) explored the influence of social media on business performance. They 

found that companies adopting social media for building customer relationship management (CRM) can have enhanced 

satisfaction with their business performance compared to other business performance. The authors additionally recorded a 

positive association between improved CRM and corporation sales. The study suggested that entrepreneurs who lack the 

social skills to interact with customers and buyers can use social media marketing, enabling them to compensate for their 

weaknesses. 

Yadav (2017) evaluated the benefits of adopting social media for promotional activity. The author distinguished that 

technology should be viewed as linking individuals instead of customers. The data were analyzed by using appropriate tools. 



Ramasamy et al., Bangladesh Journal of Multidisciplinary Scientific Research 9(2) (2024), 1-9 

 

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It was found that the benefits of social media promotion help communicate with customers without having any 

intermediaries. Social media is also linked to the customer feedback system and improved banking performance. As a result 

of the growing quality of social media, nearly 70% of businesses across the globe exhibit social media participation. Hence, 

adopting social media in banking operations enhances banks' performance. 

Jindal (2016) explored the meaning and concept of e-banking and its types, functions, advantages and challenges. 

From the analysis, the author observed that customers should get all the services anywhere, anytime, without any 

confinement from banks or bankers. Even though banks are facing many challenges concerning the implementation of e-

banking services, they have to remember that the future of banking in India will be with e-banking. Successful e-banking 

implementation can help banks maximize profits and build an attractive customer base. So, e-banking has become essential 

to banking services and cannot be avoided. The bank, which adopts new technologies and manages customer necessities, 

can only survive in the future because young generations have opined that there are more conveniences and benefits of e-

banking.  

 Jussila et al. (2014) evaluated the relationship between social media and its impact on Business-to-Business 

relationships. This study aimed to identify the opportunities for adopting social media to build business-business 

relationships. This survey-based study was conducted among companies across many industries. Many gaps between the 

potential of social media and its usage by B2B marketers were identified as effective ways to build and maintain these. The 

author suggested that companies exploit the benefits of social media to the fullest. Further, the study uncovered a motivating 

finding that social media usage was similar between firms despite their size and turnover. 

The author has studied the extent to which Financial Institutions have used social media in the Indian context. The 

study results revealed that banks use social media to explore new markets, develop new ideas, connect with customers, sell 

products and have effective Customer Relationship Management (CRM). In the case of Non-Banking Financial Companies 

(NBFCs), social media would be most helpful in collecting customers' demographic data, selling products to the customers, 

and CRM through customer reviews and feedback (Bawre & Kar, 2019). Successful social media strategies pave the way 

for improved customer engagement, brand awareness and sentiment, and customer interactions and loyalty (Angelini et al., 

2017).  

Mutero Winfred Njeri has examined the effect of social media engagement on the financial performance of Kenyan 

commercial banks in terms of revenue growth, loan portfolio, and customer acquisition costs of sample banks taken for the 

study. The results found positive effects on bank financial performance by having more revenue, increased loan portfolio 

and less customer acquisition costs since Social Media interaction on banks with customers was established (Mutero, 2014). 

Swami et al. (2018) investigated the Facebook adoption rate in Indian Banks by considering explanatory variables 

such as Return on Assets (ROA) or Equity (ROE), Bank ownership and non-interest income. They concluded that banks 

with more non-interest income and ROA have a higher rate of adaptability concerning technological innovations and 

Facebook adoption than other banks. The variable, like the number of ATMs, has more influence on Facebook adoption 

than the number of bank branches. The results also reveal that the adoption of Facebook has not occurred in banks with 

more NPA. 

Edirisuriya and O’Brien (2001) studied the introduction of new low-cost, multipurpose products like 

internet/commercial banking, which improves the large economies of scope among Australian banks. Another study 

(Assensoh-Kodua, 2016) assessed customer acceptance and continuance intention of using social media as one of the 

mediums for banking transactions in South Africa. Results revealed that social norms, perceived trust, and user satisfaction 

are the factors most influencing the adoption of social media-based banking transactions. 

Bohlin et al. (2018) conducted a study among 100 leading global banks regarding Social Network Banking based on 

consumer retail banking services such as customer engagement, marketing, information, customer support, and sales. The 

study result revealed that banks are now providing non-cash-based services to customers through social media, and banks 

will require the Payment Services Directive from the European Commission to provide cash-based transactional and non-

transactional services through social media. 

Parusheva (2019) studied social media banking usage from banks' Perspectives to find the concept of social media 

banking, the penetration of Bulgarian customers on social media, and the intensity of the top ten Bulgarian banks' presence 

on Facebook. The results revealed that customers are more penetrated by the Facebook platform, most of the banks are more 

intense on Facebook, and the concept of social media banking, as defined by the author, is the intersection of electronic 

banking channels and social media.  

Customers' attitudes towards Social Media Banking among Postgraduate students of the University of Southampton, 

UK, found that relative advantage, compatibility, and trial ability among the five attributes of Rogers Diffusion of Innovation 

theory had a significant association with customers' attitudes. Relative advantage was more prevalent among customers than 

other attributes (Majekodunmi & Harris, 2016). 

From the literature, studies related to social media in various fields are available worldwide, especially from foreign 

countries. Most studies on social media in banks focus on multiple purposes, such as Marketing, Advertising, 

Communication, Sales, etc. Still, very few studies are available regarding banking transactions (both financial and non-

financial) through social media platforms, i.e., Social Media Banking, from foreign countries. Hence, this study attempted 

to analyze the Banker's perspective on social media banking services of Indian commercial banks that provide SMB services 

to their customers. 

 

 

 

 



Ramasamy et al., Bangladesh Journal of Multidisciplinary Scientific Research 9(2) (2024), 1-9 

 

4 

The following are the hypotheses that this study takes into account. 

 

H1: There is no influence of the demographic profile (Gender, Educational Background, and Bank Category) of the bankers 

on the reasons for Social Media adoption. 

H2: There is no influence of the demographic profile (Age, Educational Qualification, Designation, and Bank Category) of 

the bankers on the reasons for Social Media adoption. 

H3: There is no influence of the demographic profile (Gender, Educational Background and Bank Category) of the bankers 

on the Benefits of SMB 

H4: There is no influence of the demographic profile (Gender, Educational Background and Bank Category) of the bankers 

on the Challenges of SMB 

H5: There is no influence of the demographic profile (Age, Educational Qualification, Designation and Experience) of the 

bankers on the Benefits of SMB 

H6: There is no influence of the demographic profile (Age, Educational Qualification, Designation and Experience) of the 

bankers on the Challenges of SMB 

 

Conceptual Framework 

 
Figure 1. The conceptual framework for bankers' demographic profiles influences the reasons for social media adoption. 

 

 
 

Figure 2. The conceptual framework for Bankers' demographic profile effect on Benefits and Challenges of Socia Media 

Banking.  

 

MATERIALS AND METHODS 

This piece of work adopts primary data methodology collected through a survey. Based on the existing literature, a structured 

questionnaire was constructed and tested with a pilot study of 50 respondents. The questionnaire was tested with the help 

of a reliability test. The Cronbach alpha showed 0.92, indicating a high reliability level persists among the respondents. 

With the help of the pilot study, a few variables were reconsidered, and the final questionnaire comprises the following 

variables: social media adoption in banks, benefits of Social Media Banking and Challenges of Social Media Banking. For 

the variable social media adoption in banks, we have considered nine reasons regarding different usages of social media in 

banks. Then, the other two variables relating to social media banking services were considered, i.e., the benefits and 

challenges of social media banking. Concerning the benefits of social media banking, the researcher has considered and 

compiled eleven benefits from bankers' perspective. Finally, the variable challenges of social media banking were 

considered, and ten varieties of challenges were compiled for further analysis from bankers' perspectives. 

The final questionnaire was circulated among the employees of banks that provide social media banking services. 

The study has considered SBI, ICICI, HDFC, IndusInd Bank, AXIS Bank of Tamilnadu and Puducherry. The researcher 

has adopted a simple random sampling method to collect data from bank employees. The data was collected through Google 

Forms, and printed questionnaires were circulated to all the bank employees. The researcher contacted the bank employees 

through their known contacts and contacts of contacts. The bank employees were requested to share the questionnaire with 

all bank employees. Altogether, the researcher received back 523 filled-in questionnaires. The researchers discarded 121 

partially filled questionnaires, and the 402 questionnaires were finally selected for the study. Therefore, the sample size of 

the study was 402. Statistical tools used to attain the objectives of this study are the Independent t-test and ANOVA test 

(Malkawi et al., 2016). 

 

 

Demographic Profile
Social Media Adoption in 

Banks

Customer Relationship 

Brand Strengthening

Reduce Advertisement Exp.

Demographic Profile Social Media Banking

Benefits

Challenges



Ramasamy et al., Bangladesh Journal of Multidisciplinary Scientific Research 9(2) (2024), 1-9 

 

5 

Variables 

The variables considered include the Demographic profile of the Bankers, social media adoption in banks, Benefits of Social 

Media Banking adoption and Challenges in Social Media Banking services.  

The Demographic profile of the Bankers comprises Gender, Educational Background, Bank Category, Age, 

Education Qualification, Designation and Experience in banking. 

 

RESULTS AND DISCUSSIONS 

Effect of Demographic Variables on Social Media Adoption in Banks 

Before analyzing the benefits and challenges of Social Media Banking services, the adoption of Social Media in banks has 

been assessed to find out how the banks use Social Media for various activities such as Customer Relationships, Advertising, 

Sales, etc., the variable, adoption of social media in banks provides various Social Media usage in banks by analyzing the 

nine reasons related to usage listed in the questionnaire. The top three reasons for social media adoption are analyzed to 

determine the effect of bankers' demographic profiles on social media adoption in banks. Independent t-tests and ANOVA 

were used for analysis. 

The top three reasons for social media adoption are,  

 Improve Customer Relationships with new and existing customers (Mean Score:3.20) 

 Brand strengthening (Mean Score:3.37) 

 Reduce advertisement expenses on banking products and services (Mean Score:3.17) 

 

Table 1. Influence of Demographic profile (Gender, Educational Background and Bank Category) of Bankers on reasons 

for Social Media Adoption 

 

Reasons for social media adoption in banks 
Gender Educational Background Bank Category 

Mean t value Mean t value Mean t value 

Customer relationship 
3.44 (M) 

4.71*** 
3.54 (IT) 

4.99*** 
3.43 (Private) 

3.52*** 
2.82 (F) 2.90 (Non-IT) 2.98 (Public) 

Brand strengthening 
3.40 (M) 

0.72 
3.59 (IT) 

5.33*** 
3.50 (Private) 

3.16*** 
3.34 (F) 3.19 (Non-IT) 3.26 (Public) 

Reduce advertisement expenses 
3.23 (M) 

1.49 
3.54 (IT) 

7.35*** 
3.42 (Private) 

5.07*** 
3.08 (F) 2.85 (Non-IT) 2.93 (Public) 

***** Sig at 5% and 1% respectively 
Source: Author’s own estimation 

 

The independent t-test has been carried out to find the effect of Demographic profile variables (Gender, Educational 

Background, and Bank Category) of the bankers and reasons for Social Media adoption represented in Table 1. From the 

above results, it is inferred that Gender only influences improving the customer relationship with new and existing customers 

(i.e., the null hypothesis is rejected at the 1% level). The null hypothesis (H1) is accepted for the remaining two constructs, 

i.e., brand strengthening and reduced advertisement expenses. The mean score for males is higher than for females, so male 

bankers are likelier to improve customer relationships with new and existing customers through social media than female 

bankers. 

Regarding Educational Background, Bankers with an IT Educational background influence all three constructs of 

Social Media adoption. So, the null hypothesis (H1) about educational background is not accepted. Bankers with an IT 

educational background are more likely to use Social Media in banks for various purposes than non-IT bankers.  

The bank category also influences selected constructs of social media adoption. Private-sector bankers tend more 

towards Social Media adoption than public-sector bankers. So, the null hypothesis (H1) is rejected for the Bank Category 

about all three constructs of social media adoption. The prevailing competition in the banking sector could have motivated 

private-sector banks to concentrate on customer satisfaction.  

 

Table 2. Influence of Demographic profile (Age, Educational Qualification, Designation and Bank Category) of Bankers on 

reasons for Social Media Adoption 

 

Variables 
Age Educational Qualification Designation Experience 

Mean F value Mean F value Mean F value Mean F value 

Customer 

relationship 

3.68 

(Below 25) 

25.19*** 

2.62 

(Graduation) 

17.45*** 

3.16 

(Clerk) 

8.74*** 

3.74 

(>5 yr) 

29.84*** 

3.55 

(25 to 35) 

2.36 

(36 to 45) 
3.45 (P.G) 

3.54 

(Officer) 

3.12 

(6 to 10 yr) 

2.00 

(46 to 55) 

2.43 

(11 to 15 yr) 

1.50 

(above 55) 

2.75 

(Others) 

2.96 

(Manager) 

2.29 

(<15 yr) 

Brand 

strengthening 

3.47 

(Below 25) 

13.44*** 

3.16 
(Graduation) 5.39*** 

3.48 
(Clerk) 6.91*** 

3.43 
(>5 yr) 16.74*** 3.54 

(25 to 35) 

3.11 3.45 (P.G) 3.65 



Ramasamy et al., Bangladesh Journal of Multidisciplinary Scientific Research 9(2) (2024), 1-9 

 

6 

(36 to 45) 
3.53 

(Officer) 

(6 to 10 yr) 

2.50 
(46 to 55) 

2.96 
(11 to 15 yr) 

2.50 

(above 55) 

3.40 

(Others) 

3.24 

(Manager) 

2.96 

(<15 yr) 

Reduce 

advertisement 

expenses 

3.21 

(Below 25) 

26.99*** 

2.88 

(Graduation) 

6.54*** 

3.52 

(Clerk) 

4.55*** 

3.39 

(>5 yr) 

18.22*** 

3.42 

(25 to 35) 

2.89 

(36 to 45) 

3.26 (P.G) 
3.21 

(Officer) 

3.32 

(6 to 10 yr) 

1.38 

(46 to 55) 

2.91 

(11 to 15 
yr) 

1.50 

(above 55) 

3.50 

(Others) 

3.06 

(Manager) 

2.39 

(<15 yr) 

***** Sig at 5% and 1% respectively 

Source: Author’s own estimation 

 

Table 2 shows that the ANOVA test was carried out for demographic variables with more than two attributes in 

relation to constructs of Social Media adoption. The test result reveals that Age influences all three constructs of Social 

Media adoption. So, the null hypothesis (H2) was rejected for Age with three select constructs of social media adoption. The 

mean scores of the younger age categories, such as those below 25 and 25 to 35, are more than the other three age categories.  

Then, bankers with Educational qualifications other than Graduation, such as both P.G. and Others (professional 

courses like CA, ICWA, and CS), have higher mean scores, indicating that higher Educational qualifications influence 

Social Media adoption more. So, the null hypothesis (H2) can be rejected for all three constructs of Social Media adoption 

with the educational qualifications of bankers.  

The result of bankers' Designation shows that clerks and officers have more mean value than managers for all the 

selected Social Media adoption constructs, representing that clerks and officers feel that their banks use more social media-

related activities than managers. So, the null hypothesis is rejected for Designation with usages of Social Media adoption.  

The Experience of bankers with the constructs of social media adoption has resulted in significant influence. So, the 

null hypothesis (H2) cannot be accepted. The more experienced bankers have lower mean scores, which reveals that, 

compared to bankers with more Experience, lower experienced bankers feel that their banks are using social media for 

various Experiences.  

 

Benefits and Challenges of Social Media Banking (SMB) 

Here, all the benefits and challenges of SMB have been consolidated and further analyzed, including the benefits and 

challenges of SMB among public and private sector bankers. Table 3 calculates the benefits based on the cutoff mean value 

of 33 (since the benefit has 11 elements) for each respondent. The less benefit has a mean value of less than 33, whereas the 

more benefit has a mean value of greater than or equal to 33. So, the results in Table 3 explain that 91 and 92 percent of 

bankers from public and private sector banks, respectively, get more benefits through social media banking services. Thus, 

irrespective of banks, all are getting more benefits from SMB services.  

 

Table 3. Benefits of Social Media Banking 

  
Public Sector Banks Private Sector Banks 

Frequency Percentage Frequency Percentage 

Less Benefit 18 8.9 16 8 

More Benefit 184 91.1 184 92 

Total 202 100 200 100 

Source: Author’s own estimation 
 

Concerning the challenges of social media banking, the cutoff mean value is set by 30 (since the challenge has 10 

elements) for each respondent. Here, the less challenge has a mean value of less than 30, whereas the more challenge has a 

mean value of greater than or equal to 30. So, the results from Table 4 depict that 100 percent of public and private sector 

bankers face some challenges through Social Media Banking services.  

 

Table 4. Challenges of Social Media Banking 

  
Public Sector Banks Private Sector Banks 

Frequency Percentage Frequency Percentage 

Less Challenge 0 0 0 0 

More Challenge 202 100 200 100 

Total 202 100 200 100 

     Source: Author’s own estimation 
 



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7 

Since both public and private sector bankers (respondents) feel that social media banking services provide benefits 

and challenges, the researcher employed further analysis to assess the effect of demographic variables on the benefits and 

challenges of social media banking.  

 

Effect of Demographic Variables on Benefits and Challenges of Socia Media Banking  

Table 5. Influence of Demographic Profile (Gender, Educational Background and Bank Category) of Bankers on Benefits 

and Challenges of Social Media Banking (SMB) 

 

Variables 
Gender Educational Background Bank Category 

Mean t value Mean t value Mean t value 

Benefits 
41.53 (M) 

3.25*** 
41.72 (IT) 

2.98*** 
40.78 (Private) 

0.15 
39.42 (F) 39.84 (Non-IT) 40.68 (Public) 

Challenges 
38.76 (M) 

-2.01** 
38.51 (IT) 

-2.54** 
38.51 (Private) 

-2.65*** 
39.69 (F) 39.65 (Non-IT) 39.70 (Public) 

***** Sig at 5% and 1% respectively 

Source: Author’s own estimation 

                                 

The independent t-test for Gender with SMB benefits was carried out in Table 5, and the results show a difference 

between males and females. So, the null hypothesis (H3) can be rejected for Gender and SMB benefits. The value of the 

Mean scores of genders implies that male bankers feel more benefits are derived from SMB than female bankers.  

The Educational Backgrounds of the bankers differ significantly between IT and non-IT with Benefits of SMB. 

Bankers with IT educational backgrounds feel that SMB offers more benefits than non-IT bankers. So, the null hypothesis 

(H3) is rejected for the Educational Background with Benefits of SMB.  

The bank Category does not significantly influence the Benefits of SMBs, which are similar in both Private and 

Public Sector bankers. So, the null hypothesis (H3) is accepted for the Bank Category with the Benefits of SMBs. 

Regarding SMB bankers' challenges, female bankers feel more challenged than male bankers. There is also a 

significant difference between males and females. So, the null hypothesis (H4) is rejected for Gender and Challenges of 

SMB.  

Suppose you consider the challenges of SMB and the Educational Background of the bankers. In that case, the 

bankers with Non-IT Educational Backgrounds feel that SMB have more challenges (mean scores) than the ones with IT 

Educational Backgrounds bankers. So, accept the alternative hypothesis for the Educational Background and challenges of 

SMB.  

The Bank Category also influences the Challenges of SMBs. Private Sector bankers feel that SMBs have fewer 

challenges than Public sector bankers. So, the null hypothesis (H4) can be rejected for the Bank Category with the challenges 

of SMBs. Indian private sector banks are adopting more IT and Social media-related services than Public sector banks in 

their banking activities.  

 

Table 6. Influence of Demographic Profile (Age, Educational Qualification, Designation and Experience) of Bankers on 

Benefits and Challenges of Social Media Banking 

 

Variables 
Age Educational Qualification Designation Experience 

Mean F value Mean F value Mean F value Mean F value 

Benefits 

40.31 (Below 25) 

6.92*** 

39.99 (Graduation) 

1.11 

39.84 (Clerk) 

2.56 

41.90 (>5 yr) 

7.37*** 

41.89 (25 to 35) 
41.04 (6 to 10 yr) 

38.69 (36 to 45) 
40.92 (P.G) 41.64 (Officer) 

36.81 (46 to 55) 38.39 (11 to 15 yr) 

36.25 (above 55) 41.85 (Others) 40.28 (Manager) 38.25 (<15 yr) 

Challenges 

40.10 (Below 25) 

4.07*** 

39.36 (Graduation) 

2.40 

40.19 (Clerk) 

6.40 *** 

38.26 (>5 yr) 

5.41*** 

38.42 (25 to 35) 

40.31 (36 to 45) 
38.85 ( P.G) 38.60 (Officer) 

39.29 (6 to 10 yr) 

39.75 (46 to 55) 39.89 (11 to 15 yr) 

41.75 (above 55) 40.90 (Others) 39.89 (Manager) 40.82 (<15 yr) 

***** Sig at 5% and 1% respectively  
Source: Author’s own estimation    

 

Table 6 shows the ANOVA test result for the Demographic profile of the bankers and the Benefits of SMB. From 

the above result for the variable, Age with Benefits of SMB, it is revealed that there is a significant influence between the 

Age of the bankers and the Benefits of SMB. So, the null hypothesis (H5) is rejected for the Age and Benefits of SMB. The 

mean scores of the younger age categories, such as those below 25 and 25 to 35, are more than the other three  

age group categories. 
The Banker's Educational qualification does not influence the Benefits of SMB. So, the null hypothesis (H5) is 

accepted for the Benefits of SMB with the Educational Qualification of the bankers. Then, the Banker's Designation also 

does not influence the Benefits of SMB. So, the null hypothesis (H5) cannot be rejected for the Benefits of SMB with the 

Designation of the bankers. 



Ramasamy et al., Bangladesh Journal of Multidisciplinary Scientific Research 9(2) (2024), 1-9 

 

8 

The Experience of bankers with the benefits of SMB has had significant results. So, the null hypothesis (H5) is 

rejected. Bankers with more Experience have lower mean scores, which reveals that less experienced bankers feel there are 

more Benefits of SMB than bankers with higher Experience.  

Age Influences the Challenges of SMB. So, the null hypothesis (H6) is rejected for Age with Challenges of SMB. 

The mean scores of 25 to 35 are more than the other four age group categories. This difference is because of bankers with 

new entry into the bank and more than 35-year-old bankers.  

Bankers with Educational qualifications do not influence the Challenges of SMB. So, the null hypothesis (H6) is 

accepted for the Challenges of SMB with the Educational Qualification of the bankers. Then, the Designation of bankers 

influences the challenges faced by SMB. So, the null hypothesis (H6) is rejected for the Challenges of SMB with the 

Designation of the bankers. Officer Cadre bankers feel there are fewer challenges in SMB than Clerks and Managers. 

The bankers' Experience with SMB challenges is significantly influential. So, the null hypothesis (H6) is rejected. 

Bankers with more Experience have higher mean scores, which reveals that less experienced bankers feel that SMB's 

challenges are less than experienced bankers.  

 

CONCLUSIONS 

Adopting ICT-enabled services has become the need of the hour for all industries, and the banking industry is no exception. 

In line with this, banks are focusing more on social media banking to sustain themselves in this competitive world and win 

over customers' confidence. The study concludes that the adoption of social media among Indian commercial banks is 

nascent; the study found that banks are adopting social media for numerous reasons, including prioritizing customer 

relationships, brand strengthening, and advertisement expense reduction. Also, the bankers' perspectives on adopting SMB 

revealed that the challenges of SMB are more than the benefits. Though the banks adopting SMBs face Challenges, the 

benefits of adopting SMBs are multifold. This study is beneficial to the Customers, Banks and regulators to understand the 

perspectives on the benefits and challenges of SMB. The study considered only Indian commercial banks which are adopting 

SMB. Future studies can focus on incorporating foreign banks' adoption, benefits and challenges of SMB and also a 

comparative study on the different platforms of SMB, i.e., Facebook, Twitter, WhatsApp, etc., concerning adoption, benefits 

and challenges of SMB. This study furnishes the theoretical implications of introducing a new concept, social media 

banking, to research groups in India. The detailed benefits and challenges of social media banking support the literature 

regarding the concept of social media banking in India. In terms of practical implications, the study provides policy 

implications for regulators and banks to implement the generalized framework and guidelines on social media banking. 

 

 
Author Contributions: Conceptualization, M.R. and J.S.; Methodology, M.R.; Software, M.R., J.S., D.B. and P.R.; Validation, J.S. and D.B.; Formal 

Analysis, M.R., J.S., D.B. and P.R.; Investigation, M.F.E.A.; Resources, M.R.  and J.S.; Data Curation, M.R., J.S., D.B. and P.R., Writing – Original Draft 

Preparation M.F.E.A.; Writing – Review & Editing, M.R., J.S., D.B. and P.R.; Visualization, M.R.; Supervision, M.R.; Project Administration, M.F.E.A.; 
Funding Acquisition, M.R., J.S., D.B. and P.R. Author has read and agreed to the published version of the manuscript.  

Institutional Review Board Statement: Ethical review and approval were waived for this study because the research does not involve vulnerable groups 

or sensitive issues. 
Funding: The authors received no direct funding for this research. 

Acknowledgments: Not Applicable. 

Informed Consent Statement: Informed consent was obtained from all subjects involved in the study. 
Data Availability Statement: The data presented in this study are available upon request from the corresponding author. Due to restrictions, they are not 

publicly available. 

Conflicts of Interest: The authors declare no conflict of interest.    
 

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