FACTORS INFLUENCING PURCHASING OF FINANCIAL PRODUCTS AND SERVICES THROUGH ONLINE CHANNEL

The rapid growth of digital financial services has transformed the way consumers purchase financial products and services. This study aims to analyze the key factors influencing online purchasing behavior of financial products, examine consumer perceptions, and assess the associated risks and benefits. The research focuses on various technological, psychological, and social factors such as trust, security, ease of use, financial literacy, and social influence. A descriptive research design was adopted, and primary data was collected from 100 respondents using structured questionnaires. The data was analyzed using percentage analysis and graphical representation for better understanding. The findings reveal that a majority of respondents are comfortable using online platforms and perceive them as reliable. Trust and transaction security emerged as the most significant factors influencing purchasing decisions, while concerns regarding fraud continue to act as a major barrier. Additionally, social influence, especially from friends and peers, plays a notable role in shaping consumer behavior. The study concludes that while digital adoption is increasing, financial institutions must focus on enhancing security measures, building trust, and improving financial literacy to encourage wider adoption of online financial services.