Effects of E-Banking on Customer Satisfaction by SACCOS (A Case Study of Kingdom Sacco Nakuru Town Branch)
Kitavi, Stephen Ngunga
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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.