Examining the role of bank performance on social media platforms: a SEM approach

The Indian banks are intensively stressing to hasten their strategies for digitization by discerning substantial degree of digitisation, advancement and revolution. In present scenario, the banks operating in the Indian banking sector are striving to upraise their tech structures and leverage digital facilities to empower client servicing most effectively and efficient. Now-a-days digitalisation and new technological tools have become a vital resource for these banks to accomplish enhanced efficiency, output, strict monitoring of operations, viability and growth. Social media, facilitates consumers by offering array of varied choices, differentiated services, enhanced media coverage and even additional digital conversations and connectivity. Social media facilitates banks with new ways by solidifying sustained long-term associations, developing consumer engagement, cultivating the efficacy of relationship banking, generating brand awareness, loyalty, and trust, ensuring knowledge sharing and meeting heightened customer expectation of personalisation. This particular research endeavours to bridge the gap by investigating antecedents of bank's performance, in context to their presence on digital platforms in emerging economies like India. A survey was conducted using convenience sampling on about 500+ respondents from Delhi-NCR region and multivariate modelling technique SEM was used to establish the relationship among the antecedents. The outcomes reflected the role of social media in identifying three major constructs entailing relationship banking, brand image and consumer engagement which deals with bank's performance and most influencing antecedents of the same.