Electronic Banking and Customers Satisfaction in Deposit Money Banks in Nigeria

This study investigated the relationship between electronic banking and customers' satisfaction in deposit money banks (DMBs) in Nigeria. The research explores the factors that contribute to customers' satisfaction with electronic banking services and their impact on overall customer experience and loyalty over the period; 2012 to 2021. The focus was on selected electronic banking products-Mobile payments, Automated teller machine (ATM), Internet banking (WEB) and Point of sale (POS) transactions, while customer satisfaction was measured by Return on Assets as a result of increased customer patronage and profitability. The Study adopts ex post facto research design. Secondary data were collected through annual reports and statistical bulletin of Central Bank of Nigeria within the stated period and analyzed quantitatively. The formulated hypotheses were tested using the Ordinary Least Square (OLS) inferential statistical tool to determine the effect of E-banking on customers’ satisfaction in deposit money banks in Nigeria. The results indicated that e-banking in the aggregate has a positive but insignificant effect on customers’ satisfaction in Deposit Money Banks (DMBs) in Nigeria. Conclusively, the recommendations from this study highlighted the importance of enhancing service quality, embracing digital banking technologies and improving the overall infrastructure to foster a more efficient and customer-centric banking sector.