Publication: Effects of E-Banking on Customer Satisfaction by SACCOS (A Case Study of Kingdom Sacco Nakuru Town Branch)
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2018
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Abstract
The main purpose of this study was to assess the effects of E-banking on customer
satisfaction by SACCOs. It was carried out at Kingdom Sacco, Nakuru Town Branch,
Nakuru County. The specific objectives were; - to establish whether e-banking has led
to improved banking convenience; to investigate whether e-banking has provided
security of transactions; to investigate whether e-banking has improved accuracy
of data; and to establish whether e-banking has improved loyalty of customers of
Kingdom Sacco. The findings will be important in the management of Kingdom Sacco
in making strategic decisions to improve the customer satisfaction. A case study was
adopted with a target population comprising 215 and a sample of thirty five was
taken to represent the target population. A questionnaire containing closed ended
questions was used as the data collection instrument. Data analysis was done by
descriptive statistics such as frequencies, percentages, tables, pie charts and graphs.
Presentation of the results was by tables, charts and graphs. The findings revealed
that e-banking platform had brought convenience to customers to a large extent as
customers were transacting at the comfort of their homes. Security of transaction
was found to have been improved to a large extent leading to customers shifting
from the conventional ways of banking to e-banking due to its guaranteed online
security. 90% respondents agreed that data was accurate as it minimized errors in
the accounts and significantly reduced accounts reconciliation. All respondents who
participated agreed that e-banking had improved customer loyalty as customers
were getting the information needed on time. Based on these findings the researcher
recommended that the management of Kingdom Sacco to begin periodic education
forums to create awareness to the members of the underutilized forms of e-banking.
The researcher suggested that such study be done to the rest of the Sacco branches
country wide.
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Keywords
E-banking platform, Strategic decisions, Customer satisfaction, Customer loyalty