Thesis:

Influence of mobile banking services on customers’ satisfaction among retail enterprises in Nakuru central business district, Kenya

Despite the number of efforts made by financial institutions to offer mobile banking services and the growing uptake of these options by customers, there was a crucial need to assess whether these services effectively met customer needs. In recent years, particularly since the beginning of the COVID-19 pandemic, there had been a key increase in the usage of mobile phones for financial transactions. In this digital age, mobile banking emerged to play a crucial role in monetary transactions, which revolutionized how people conducted businesses and managed their finances. The main objective of this study was to explore the impact of mobile banking services on customer satisfaction among retail enterprises in Nakuru CBD, Kenya. The specific objectives for this project included analyzing the effect of security features on customer's satisfaction among the retail enterprises in Nakuru CBD, Kenya; identifying the effect of user interface design on satisfaction levels of customers among retail enterprises in Nakuru CBD, Kenya; determining the effect of customer support service on customer satisfaction among the retail enterprises in Nakuru CBD, Kenya; and identifying the effect of lifestyle changes on customer's satisfaction among the retail enterprises in Nakuru CBD, Kenya. The methodology for this study used a detailed literature review to determine the factors that influence customer satisfaction when it comes to mobile banking by focusing on security features, user interface, customer support service, and lifestyle changes that are brought when adopting mobile banking in business transactions. The study used a descriptive survey research design to target retail enterprises in Nakuru CBD. The study was guided by theoretical frameworks, including TAM (Technology Acceptance Model), SERVQUAL (Service Quality Model), and CRM (Customer Relationship Management). The research methodology used a descriptive survey research design targeting retail enterprises who uses mobile banking for their daily financial transactions in Nakuru CBD as the study population. It used purposive sampling techniques to select a sample population of 175 participants, to participate in the study through self-administered questionnaires. However, only 160 retailers in Nakuru CBD accepted to participate in the study. Out of this number 145 questionnaires were completed and returned while 15 were unreturned. The respondents comprised retail traders from Nakuru CBD. The retail enterprises in Nakuru CBD were selected because they represented a key demographic for understanding the influence of mobile banking services on levels of customer satisfaction. The minimum number of respondents was arrived at using Slovin’s formula, with a sum population of 175 respondents and a margin of error of 4%. The data analysis involved the use of descriptive and inferential statistics, which included frequencies, percentages, means, standard deviations which were facilitated by the SPSS (Statistical Package for Social Sciences). By examining the role of mobile banking services in enhancing customer satisfaction among retail enterprises, this study intended to contribute valuable insights to the field, informing the development of customer-focused mobile banking solutions and fostering stronger relationships between financial institutions and their customers.