The Effect of Digitalization on Customer Satisfaction-A Case of a Bank in Zambia

Abstract

This study examines how digitization affects customer satisfaction in a Bank in Zambia. With the financial industry rapidly changing due to technology, digital banking services have become crucial. Zambia's banking sector has seen significant digitization in recent years, including mobile banking, online transactions, and ATM access. Therefore, it is essential for banks and policymakers to understand the impact of digitization on customer satisfaction. The aim of the study was to investigate the effect digitalization has on customer satisfaction at a local bank in Zambia. A survey strategy using structured questionnaires was employed to gather data. The findings highlight the importance of factors such as convenience, accessibility, speed, customer alerts for transactions, and real-time feedback in determining customer satisfaction in a digitized banking environment. The results of this study have valuable implications for both the bank and policymakers. Understanding how digitization influences customer satisfaction provides insights that drive strategic decisions to enhance customer experiences and loyalty in the digital era. The significance of digitization in the banking sector its ability to transform customer satisfaction is emphasized in the conclusion. Through an examination of the different aspects of this correlation, it provides insight into the obstacles and prospects that digitization offers to banks. These findings are crucial for remaining competitive and guaranteeing customer satisfaction in a constantly evolving and technology-driven industry, as digital banking continues to progress.