Effect of digital banking on customers’ satisfaction in Nigerian deposit money banks

Existing studies in the literature have no consensus about whether or not digital banking stimulates customer’s satisfaction as findings and conclusions are well divided about the nature of the effect of digital banking with respect to customer’s satisfaction; especially in the context of the Nigerian deposit money banks. Thus, further study is required in the light of the digital revolution in the Nigerian banking sector to expand the frontier of the existing knowledge on how digital banking stimulate customer’s satisfaction in Nigeria. Against this backdrop, this study assessed digital banking as stimulant of customer’s satisfaction in Nigeria deposit money banks. The study adopted survey research design and sourced data by administering questionnaires to the respondent customers of the selected Nigerian deposit money banks. To obtain robust result, the study ensured that all the administered two thousand eight hundred and twenty eight (2,828) were successfully completed and retrieved from the respondents for analysis. Also, analysis of the completed questionnaires was done by using both descriptive and inferential statistics; specifically, frequency tables, bar charts, histograms, mean as well as standard deviations were used to describe the collected data while regression technique was used to examine the effect of digital banking on each of the constructs measuring customer’s satisfaction. The result of the analysis revealed that with +0.645DB and p-value = 0.000<0.05, digital banking is a positive and significant determinant of customer’s service quality in the Nigerian deposit money banks, and by implication, digital banking stimulates customers’ service quality in the Nigerian deposit money banks. Furthermore, it was found out from the study that digital banking maintained strong and statistically significant effect on customer’s loyalty with +0.917DB coefficient and p-value = 0.000<0.05; this implies again that digital banking promotes customer’s loyalty in Nigerian deposit money banks. In the light of the foregoing results which showed that digital banking is a positive and strong stimulant of each of the constructs of customers’ satisfaction as supported by the statistically significant p-values, the study concluded that digital banking is a strong and positive stimulant of customer’s satisfaction in the Nigerian deposit money banks. Consequently, in order to stimulate more customers’ satisfaction in the banks’ digital services continually, Nigerian deposit money banks should continue to be innovative digitally and ensure that the digital banking  networks remains strong enough to guarantee uninterrupted high speed whenever the customers are accessing banking services digitally, while ensuring that the set-up time as well as the access procedures of each digital banking channels remains seamless  and simplified  for easy access by the customers.