Use of Mobile Banking Application, Corporate Innovation and Customer Satisfaction of Selected Banks in Osun State, Nigeria
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2022-12
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Lead City University
Abstract
Customer satisfaction is a major factor that every organization tends to always accomplish so as to increase their customer base. When customers are not satisfied with a company’s product, goods or services, such organization will begin to encounter a steady decline in its customer base and the likelihood of the organization losing profits is certain. In order for this not to be a reality among organizations in Nigeria, financial institutions and banks inclusive as well, this study deemed it fit to investigate the influence of Use of Mobile Banking Application (UMB) and Corporate Innovation (CI) on Customer Satisfaction (CS) of Selected Banks in Osun State, Nigeria. Descriptive research design was adopted. Population consists of 19130 bank customers in Osun state. 377 bank customers served as the sample size after Krejcie and Morgan was applied to determine the sample size. Stratified random sampling technique was used as well as a validated questionnaire was also used to collect data. The reliability coefficient for each of the variable ranged from 0.75 to 0.85. Data collected was analyzed using descriptive and inferential statistics. Findings revealed that UMB had significant influence on CS (Adj. R2 = 0.048; p = 0.000), CI was found not to significantly influence CS (Adj. R2 = -0.003; p = 0.811). Jointly, UMB was found to statistically significantly influence CS (Adj. = .044, F (2,289) = 7.736, p < 0.05), while CI was found not to statistically significantly influence CS (β = .060; t =- .101; p > 0.05). The study concluded that only UMB independently influenced CS. The study recommended that interface features of banking applications should be improved upon. When this is done, corporate innovation has taken place, thereby customer satisfaction will greatly be achieved, also, charges on the use of banking applications should be made affordable.
Key Words: Corporate Innovation, Customers, Customer Satisfaction, Osun State, Use of Mobile Application
Word Count: 300
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Kate Turabian