AUTHOR: UTUODOR HENRY IKPOZI
AFFILIATION: NNAMDI AZIKIWE UNIVERSITY, AWKA
In the world of banking, the development in information technology has an enormous effect on the development of more flexible payment methods and ore user friendly banking service. Electronic banking services are new, and the development and diffusion of these technologies by financial institutions is expected to result in a more efficient banking system. This technology offers institutions alternative or non-traditional delivery channels through which banking products and services can be delivered to customers more conveniently and economically without diminishing the existing services level. In recent years almost all the banks have started to offer high-technology banking services to their customers. The purpose of this research work is to explore and analyze the customer’s perception of the high-technology banking products and the driving forces towards the patronage. The work also aims to gain better understanding of the service quality dimensions that affect customer satisfaction in the hightechnology banking sector from a customer’s perspective. Based on a detailed literature review, a frame of reference was developed. Three hypotheses on service quality dimensions were selected and tested in the high technology banking sector in order to explore the relationship between service quality and customer satisfaction. A qualitative research approach was used to get a better understanding of these issues. However, a small quantitative survey was also conducted to support the results obtained from the qualitative study. The empirical data were gathered through in-depth interviews with bank customers and a structured questionnaire administered to four hundred (400) economically active citizens of Anambra State, Nigeria who maintain account with our banks under study. Data presentation and analysis were done in accordance with the research questions, research hypotheses and the frame of reference. The researcher found that: a significant number of customers are either not aware of the high-technology banking as a channel to conduct their banking satisfactions; customers ay adopt the high technology banking only if they perceive the technology to be useful and market driven; risk perceptions in terms of financial, psychological and safety risks among customer not using high-technology products/services was more meaningful than those using the products and services. Customers not preferring to use the products/services thought that they would be swindled when using these services, and therefore, are particularly careful about high risk expectation during money transfers from and between accounts. The researcher recommends that, to reap maximum benefit from high technology banking, banks should give the customer more control; taking a ore risk based approach to additional authentication requirements; not focusing too narrowly on authentication, but deploying a wider range of technologies designed to mitigate fraud risk; and putting their money where their mouth is by providing online banking security guarantees. The high technology products should be developed after due consultations with the customers on their banking needs and expectations and not based on bank management perception of what the customers need. In conclusion, time is changing and with the passage of time people are accepting high technology. There is still a lot of perceptual b locking which hampers the growth. It’s the normal tendency of a human being not to have changes work on the old track, that’s also one of the reasons for the slow acceptance of high technology banking accounts. Finally, the work contributes to marketing research and practice with its approach on how quality and value can be conceptualized for bank products and services; and reference for the banking industry to improve the level of high technology banking services and for future research.
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Tags: Advertising, ATM-Automated Teller Machine, Bank Management, Banking Industry, Competitive Strategies, Debit Cards, Differentiation, E-Courier., E-Service, Electronic Funds Transfer, Focus, High Technology Banking, Integrated Banking, Internet Banking, Market Follower Strategies, Market Leader Strategies, Marketing Thesis-2010, Microprocessor Technology, Moneygram, Perception, Perception Model, Personal Selling, Promotion, Public Relations, Quality, Sales, Service, Service Quality, Signature Verifier, Smart Card, Sponsorship, Telephone Banking, V-SAT Technology