Factors affecting customer satisfaction in online banking

Abstract

This research examines the sophisticated impact of various determinants on customer satisfaction within the domain of online banking, with a specific focus on Pan Asia Bank in Sri Lanka. In an era characterized by digital transformation, understanding the gradation of customer satisfaction has become paramount for financial institutions striving to enhance their competitive advantage. The study aims to identify critical independent variables influencing customer satisfaction, particularly emphasizing perceived usefulness, perceived ease of use, perceived relative advantage, and compatibility. A quantitative research methodology was employed, utilizing a structured questionnaire distributed among 120 online banking customers, selected through a simple random sampling technique. This method allowed for the efficient gathering of data reflective of actual user experiences and perceptions. The data were meticulously analyzed using IBM SPSS software, employing descriptive statistics and Pearson correlation analysis to establish vigorous relationships between the identified variables. The results indicate strong positive correlations between customer satisfaction and all four independent variables, with perceived usefulness demonstrating the most substantial relationship. These findings underscore the imperative for financial institutions to prioritize the enhancement of online banking services to elevate customer satisfaction levels. By focusing on these key determinants, financial institutions can build strategic, data-driven improvements to online banking platforms, paving the way for solutions that resonate with customer expectations. Furthermore, the findings contribute significantly to the existing body of literature on online banking by corroborating the relevance of these factors in the unique Sri Lankan context.