Implications of Electronic Banking Characteristics on Customer Satisfaction in Selected Deposit Money Banks in Nigeria

Abstract

To keep up with global development, increase service delivery, and lower transaction costs, Nigerian banks have substantially invested in technology and widely adopted electronic and communications networks to supply a wide range of value-added goods and services. This study looked at the relationship between electronic banking services and customer satisfaction in a sample of Nigerian deposit money institutions. The hypotheses were developed in accordance with specific objectives, the service quality model was chosen as the study's theory, and the survey research design was used because the data was a primary source. Data were collected from respondents using an instrument questionnaire during the time period under review. Frequencies and percentages were employed, and the hypotheses were tested using ordinary least squares regression analysis The findings show that service reliability of electronic banking has no significant impact on customer satisfaction, whereas transaction efficiency and service performance of electronic banking have a significant positive impact on customer satisfaction in selected Nigerian deposit money banks. The study's findings suggest that electronic banking has a beneficial impact on consumer satisfaction. The study thus recommended that banks improve the reliability, efficiency, and service performance of electronic banking channels by providing robust customer support via various channels such as live chat, email, and phone support to ensure that customer inquiries and issues are resolved quickly and efficiently. By focusing on these areas, banks and financial institutions can greatly improve consumer satisfaction with electronic banking services, promoting client loyalty and providing a competitive advantage in the market.