Electronic Banking and Customers Satisfaction in Deposit Money Banks in Nigeria
Authors/Creators
- 1. Department of Management and Accounting, Faculty of Management and Social Sciences, Lead City University, Ibadan, Nigeria
- 2. Department of Tax Investigation and Enforcement, Federal Inland Revenue Service, Nigeria
Description
This study investigated the relationship between electronic banking and customers' satisfaction in
deposit money banks (DMBs) in Nigeria. The research explores the factors that contribute to
customers' satisfaction with electronic banking services and their impact on overall customer
experience and loyalty over the period; 2012 to 2021. The focus was on selected electronic banking
products-Mobile payments, Automated teller machine (ATM), Internet banking (WEB) and Point
of sale (POS) transactions, while customer satisfaction was measured by Return on Assets as a
result of increased customer patronage and profitability. The Study adopts ex post facto research
design. Secondary data were collected through annual reports and statistical bulletin of Central
Bank of Nigeria within the stated period and analyzed quantitatively. The formulated hypotheses
were tested using the Ordinary Least Square (OLS) inferential statistical tool to determine the effect
of E-banking on customers’ satisfaction in deposit money banks in Nigeria. The results indicated
that e-banking in the aggregate has a positive but insignificant effect on customers’ satisfaction in
Deposit Money Banks (DMBs) in Nigeria. Conclusively, the recommendations from this study
highlighted the importance of enhancing service quality, embracing digital banking technologies
and improving the overall infrastructure to foster a more efficient and customer-centric banking
sector.