The Impact of Digital Economy on Bank Customers' Satisfaction in South-South, Nigeria

This study examines the impact of digital economy on bank customers satisfaction in South- South States, in Nigeria. The study employed a survey research design. The sample size of 384 was determined using a formula for an infinite population proposed by Godden (2004). Primary data were collected through the use of a structured questionnaire. The questionnaire was designed in a 5-point Likert scale format and validated by ensuring content, concurrent, convergent, and discriminant validity. The reliability of the questionnaire was determined using Cronbach's Alpha. Three hundred and seventy-two (372), representing 97%, were retrieved and adjudged usable for the study. Multiple regression analysis was used to test the research hypothesis. The study data analysis revealed that digital economy has a significant impact on bank customer satisfaction. Specifically, the result shows that the adoption of digital in banking economy such as mobile banking app (MOB) with a coefficient value of (β = .864; t =11.798; p = 0.000 < 0.05) indicates that a one percent increase in the mobile banking app affects an 86.4% positive change in customer satisfaction. The result shows that Unstructured Supplementary Service Data (USSD) with a coefficient value of (β = .118; t =2.365; p = 0.019 < 0.05) indicates that a one percent increase in Unstructured Supplementary Service Data (USSD) affects about a 12% positive change in customer satisfaction. Likewise, the result shows that a Point of Sale (POS) with a coefficient value of (β = -0.498; t = -5.608; p = 0.000 < 0.05) indicates that a one percent increase in Point of Sale affects a 49.8%, about 50% decline in customer satisfaction. Lastly, the result shows that the Automatic Teller Machine (ATM) with a coefficient value of (β = 0.559; t = 14.334; p = 0.000 < 0.05) indicates that a one percent increase in Automatic Teller Machine effects 55.9%, approximately 56% positive change in bank customer satisfaction. Based on these findings, the study recommends that digital economy via digital banking channels should be embracing and encourage by all Nigerian and, that governments at all levels should formulate and implement the policies that will improve the use of digital economy. Also, stakeholders in financial sector should improving digital economy infrastructures that will aid the performance of the digital banking channels as well as contributes to customer satisfaction.