Factors Affecting the Adoption of Digital Technology in the Banking Sector of Jammu and Kashmir

The financial services industry is undergoing a digital revolution, and there are fresh chances to reconsider how financial services are delivered, made available, and consumed via the use of digital technology. With a focus on the banking sector in Jammu and Kashmir, the author of this study aims to put into perspective the several variables that have impacted the adoption of digital technology in the banking industry. The survey takes into consideration a number of observable elements, including organisational support, security and privacy concerns, perceived utility, perceived ease of use, and the legal and regulatory framework around digital banking. These variables are examined in terms of how they affect the adoption of digital technology or its effective use in banking. A structured questionnaire was used to gather primary data from respondents, and JASP software was used to statistically tabulate the results. Two statistical methods—descriptive and multivariate statistics—were employed to investigate the connections between the variables that were found and to comprehend the motivations behind the uptake of digital technology. The results show that every organisational, technical, behavioural, security, and regulatory concern is crucial for digital banks. While organisational support facilitates the adoption and use of digital technologies, individuals' trust and desire to utilise digital banking platforms are impacted by security and privacy issues. In a similar vein, acceptability and continuous usage of digital financial services are influenced by their usability and convenience of use. It is also impossible to ignore the impact that institutional elements of the legal and regulatory framework play in protecting consumers and enhancing the legitimacy of online transactions. According to the authors' findings, effective digital transformation necessitates a mix of organisational and technological preparedness, usability and accessibility, security and controls, and a suitable regulatory environment. The results offer important insights that stakeholders, policymakers, and financial institutions may use to advance safe, effective, and inclusive digital banking in Jammu & Kashmir.