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Customer Satisfaction Level in Online Banking: Group Members

This document discusses a research study on customer satisfaction levels with online banking. The introduction outlines how online banking has grown but many customers remain unsatisfied with services. The study aims to examine factors influencing customer satisfaction, including service quality, web design, security/privacy, convenience/speed. The research questions ask about current satisfaction levels, satisfaction factors, and how banks can improve satisfaction. Objectives are listed to analyze satisfaction's impact, identify ways to increase it, explore influencing factors, and investigate satisfaction levels and important retention factors. The significance and research methodology are also outlined.

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191 views

Customer Satisfaction Level in Online Banking: Group Members

This document discusses a research study on customer satisfaction levels with online banking. The introduction outlines how online banking has grown but many customers remain unsatisfied with services. The study aims to examine factors influencing customer satisfaction, including service quality, web design, security/privacy, convenience/speed. The research questions ask about current satisfaction levels, satisfaction factors, and how banks can improve satisfaction. Objectives are listed to analyze satisfaction's impact, identify ways to increase it, explore influencing factors, and investigate satisfaction levels and important retention factors. The significance and research methodology are also outlined.

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aashir ch
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CUSTOMER SATISFACTION LEVEL IN ONLINE

BANKING

Group Members:
Muhammad Basharat
Faisal Saleem
Introduction
1.1Abstract:
The banking industry has been rapidly developing the use of Internet banking
as an efficient and viable tool to create customer value. It is one of the popular
services offered by the traditional banks to provide speedier and reliable
services to online users. With the rapid development of computer technology
as a commercial too Internet banking can be used to attract more customers to
perform banking transactions in related banks. However, the main problem of
Internet banking faced by the providers is that a large number of the banks’
customers are not willing to use the Internet banking services offered. This
happened due to the services offered through Internet banking have yet to
satisfy their customers. Customer satisfaction is an important factor to help
banks to sustain competitive advantages. Therefore, the purpose of this
research is to search and examine the factors which influence customer
satisfaction towards Internet banking. The five factors which can influence
customer satisfaction toward Internet banking include service quality, web
design and content, security and privacy, convenience and speed. With the use
of a questionnaire survey.
1.2Statement of the problem
What is the current level of satisfaction of customers?
What are the factors that can lead to customers toward satisfaction?
How can banks provide better customer satisfaction?
What are the most satisfactory factors that are provided by bank to its customers?
1.3 Objective of Study
The specific objectives of the study will be:
 To analyze impact of customer satisfaction variable in growth of banking
industry.
 To identify, if any, possible way to increase customer satisfaction.
 To explore the factor affecting the customer satisfaction.
 To investigate the customer satisfaction level in online banking.
 To find the most important factor motivating to remain with the bank.

1.4 Significance of the study


This study has its importance to provide information about customers’
satisfaction from different services offered to customers by banks. Findings will be
helpful to identify those areas which should be focused more to provide better
services. This will help for banks for retaining their customers and attract new
customers. This research is very important for future researchers. It is quite a bold
step to enquire into the customer satisfaction in large banking sector. The
management of the sampled banks may also benefit from this study as the
outcome of this study.
1.5 Research Question 
The main question of this study is whether customer are satisfied or not by the
online banking services. This question will be tried to answer in this study by
analyzing different data and employing a suitable research design.
We will use following type of questionnaire in order to measure customer bank:-

Name of the customer:- …………………………


Age:- (a) 21-30 years (b) 31-40 years (c) 41-50 years (d) 51years & above
Annual Income:- (a) up to Rs.1, 00,000 (b) Rs.1, 01,000- Rs.3, 00,000
(c) Rs. 3, 01,000 – Rs.5, 00,000 (d) Rs. 5, 01,000 & above
Education: - (a) Under Graduate (b) Graduate (c) P.G. (d) Professional
Occupation: - (a) Govt. Employee (b) Private Employee (c) Self Employed
In which commercial bank you have an account
(Only one bank name)...……………………………
1. Why this bank
(a) Service is good (b) They provide security (c) Cheaper service charges
2. Do you use E-banking
(a) Yes
(b) No
3. While opening up of account, were you aware of e- banking services
provided by the bank?
(a) Yes
(b) No
4. Manual Banking is more convenient than Internet Banking.
(a) Strongly Agree (b) Agree (c) Neutral
(d) Disagree (e) Strongly Disagree
5. How you perceive Internet Banking System?
(a) Complicated Technique (b) Not Easy (c) Difficult accessibility
(d) Rigidity (e) don’t get required response (f) Poor Feedback
6. Are service charges for Internet Banking fair?
(a) Yes (b) No
7. Why have you never used online banking services?
(a) Do not have Internet at home
(b) Don’t trust internet services when it comes to managing my money
(c) Online services don’t enable me to do what I want to do
(d) I prefer to have personal human relation (e) Find the process too difficult
8. Degree of confidence on e- banking
(a) Little (b) Some (c) Not at all (d) High (e) Very High
9. Which one is the main reason for you to use e- banking
(a) Better Information (b) Simplification of processes
(c) 24 Hr. service (d) Limited time available

1.6 Independent Variables


 Reliability
 Security
 Privacy
 Service Quality
 Assurance
Dependent Variables:
 Customer satisfaction
Mediating variables:
 Customer trust
Moderating variables:
 Loyalty
 Gender
 Income
 expertise

Literature review
There has been a significant change in the structure, composition, management
objectives and the mode of working of the banking institutions over the last three
decades or so. Cut to the present day and the nature of banking has changed
beyond recognition. With ATM cards, simple banking transactions like
withdrawing and depositing money are easier than ever before. For the
technology, there is the option of banking online. The next medium may just be
your mobile. Even when it comes to products, the changes have been many.
Graduating from simple saving accounts and fixed and recurring deposits.
Ameme, B., & Wireko, J. (2016) claimed in his research that in today’s
competitive world where technology plays a very important role and if we talk
about banking sector or industry there is a positive relationship between
technology and customer satisfaction. They also stated that satisfaction of
customers is not merely introducing innovative products and services rather it
is much more than that. They also found that if the bank wants to become the
market leader in the competitive environment it must use the innovation
approach in all the aspects like products and services. Also there is a significant
relationship between technological innovation and cost. As the innovation
increase the cost is also increase
.Machogu, A. M., & Okiko, L. (2015) research brought to light that with e-banking
complexities on customer satisfaction. Results shows that there are
factors which leads to customer satisfaction particularly in e-banking, which is
one of the very important and fast growing way of doing banking. Factors are
accessibility, convenience, security, privacy, content, design, speed, fees and
charges have influence on customer satisfaction where the other factors notified
have no significant influence.
Research Methodology
1. Research Design
The research is exploratory in nature because, the relevant data were
collected from within the Sylhet region and form a small sample. For
research purpose, we will conducted a survey through questionnaires which
defined the method of data collection by primary data collection method. Sample
unit will be an account holder of bank drawn as sample from random sampling
method. In order to get better response from customers about their satisfaction
level, this research will mostly focused on getting response from respondents who
had frequent transaction with the banks, and the main exit gate was used as data
collection place.

2. Nature and sources of data


This study will use both primary and secondary data to meet the objective of
the study. Primary data will be collected regarding depositor perception and
opinion towards bank. On the other hand, secondary data will be used to
analyze cause and effect relationship among customer satisfaction and
banking satisfaction variable.

3. Population and Sample


All online banks will take as the population of the study. Probability Random
sampling technique will adopted. The selected sample seemed to represent
generalize the total population. Generally, customers of banks are depositors,
borrowers, and others who get banking services. However, this study will not
cover all the customers of banks as per the limit time framework.

4. Data Collection Procedure and time frame


A standard structured questionnaire will designed to collect the required
information where five point Likert scale, ranking scale, and other
demographic nominal information will use. The measure will consists of
mainly three sets of questions. The first set will related with introduction,
while the second set will related to their perceived satisfaction and
references, and the third set will include motivational factors to rank. Close
ended questions are structured to collect information about customers’
satisfaction for different bank services. The data will collected using Likert
scale to measure satisfaction level. Moreover a respondent will also asked
what those factors are which he preferred most related to bank services

5. Analysis Plan
The main purpose of data analysis is to find out what factor might affect customer
satisfaction in online banking. Various models and statistical tools will be
employed to analyze both primary as well as secondary data.

REFERENCES
 Rust, R. and Zahorik, A. 1993: Customer Satisfaction, Customer Retention
and Market Share.Journal of Retailing, 69(2), pp. 193-215.
 Grigoroudis, E & Siskos 2010: Customer Satisfaction Evaluation, Methods
for measuring andimplementing service quality. Springer p. 171-178
 https://shodhganga.inflibnet.ac.in/bitstream/10603/89802/2/chapter
%2011.pdf
 https://www.researchgate.net/publication/327405700_The_Impact_of_E-
Banking_Services_Quality_on_Customers_Satisfaction_Moderated_by_Cus
tomer_Trust_Survey_on_Arab_Bank_in_Amman_Jordan

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