Digital Transformation and Customer Satisfaction in the Nigeria Banking Industry: An empirical study of Guaranty Trust Bank’s mobile banking users.

M. A. Giwa; O. G. Oyenuga; R Folorunsho; J. D.  Ughana

M. A. Giwa University of Lagos
O. G. Oyenuga University of Lagos
R Folorunsho University of Lagos
J. D. Ughana University of Lagos

Keywords: Convenience, customer satisfaction, customer trust, digital transformation, perceived service quality.

Abstract

This research examined the impact of digital transformation on customer satisfaction in Nigeria’s retail banking sector: A study of Guaranty Trust Bank’s mobile banking. Thus, grounded in the technology acceptance model, the study adopted a descriptive cross-sectional research design with data gathered from GT Bank customers’ in Yaba local development area in Lagos. The population for this study was made up of 1,808,986 research participants; however, the study sampled 450. Data collected were analyzed using descriptive and inferential (regression) statistic with the aid of the Statistical Package for Social Sciences (SPSS version 27.0). Finding of the study established that digital transformation significantly enhances the satisfaction level of the customers towards GT Bank's mobile banking. Overall results showed that perceived service quality, convenience, and customer trust collectively enhanced customer satisfaction, highlighting the importance of continuous improvements in service quality, convenience, and trust in driving positive customer experiences with mobile banking. It was recommended that GT Bank should improve ease of use by simplifying the user interface, strengthen security measures to protect user data, increase responsiveness to user inquiries and issues, improve convenience by speeding up transaction processing times and ultimately target younger customers as 63.4% of the respondents were between age 18 – 25.