Dissertation: Digital Banking and Customer Satisfaction at Rokel Bank

This dissertation investigates the impact of digital banking on customer satisfaction, using Rokel Commercial Bank in Sierra Leone as a case study. The research begins with an introduction outlining the background, problem statement, research aims, objectives, and questions, followed by a comprehensive literature review on digital banking, customer satisfaction, and relevant theories. The methodology chapter details the research philosophy, approach, design, data collection and analysis methods, sampling techniques, and ethical considerations. The analysis and discussion chapter presents descriptive and inferential statistics, including reliability, correlation, and regression analyses, alongside hypothesis testing and findings. The final chapters offer discussions, conclusions, recommendations for Rokel Bank to improve its digital banking services, address limitations, and suggest future research directions. The study aims to identify the positive and negative impacts of digital banking on customer service and satisfaction, providing insights to enhance operations and customer experiences.

Running head: DISSERTATION
DISSERTATION
Name of the Student
Name of the University
Author Note

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Acknowledgement
I am using this opportunity to express my gratitude to everyone who supported me throughout
the course of this MBA project. I am thankful for their aspiring guidance, invaluably constructive
criticism and friendly advice during the project work. I am sincerely grateful to them for sharing
their truthful and illuminating views on a number of issues related to the project.
I express my warm thanks to Mr. [SURNAME] and Ms. [SURNAME] for their support and
guidance at [COMPANY NAME].
I would also like to thank my project external guide Mr. [SURNAME] from the [NAME]
company and Ms. [SURNAME] and all the people who provided me with the facilities being
required and conductive conditions for my MBA project.
Thank you,
Author

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Executive Summary
The banking industry has been undergoing considerable change and in lieu of this, it becomes
essentially important for the various enterprises which are involved in the banking industry to
ensure that they are being able to gain a competitive advantage successfully and are being able to
engage in successful operations through the satisfaction of the customers. The customer
satisfaction can be described as the sense of accomplishment which can be made use of in order
to engage in long term success by the firm. Hence, the focus of this study is to understand the
way in which the Rokel Bank will be able to engage in long term success through digital banking
and customer satisfaction. The first chapter focuses on the introduction which lays down the
background of the study. This is then being followed by the Literature review which discusses
and critically analyzed the different theories involved in the field of the Customer satisfaction
and related banking opportunities. The research methodology as a chapter focuses on the various
research methods which are made use of in the study. The next chapter discusses the findings
and related analysis which had been laid from the research. Certain recommendations to assist
Rokel Bank in its operations have also been provided.

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Table of Contents
Chapter 1: Introduction....................................................................................................................6
Overview......................................................................................................................................6
Background..................................................................................................................................6
Problem statement.......................................................................................................................7
Company and Industry background.............................................................................................7
Research aim................................................................................................................................8
Research Objectives.....................................................................................................................8
Research Questions......................................................................................................................9
Research Hypothesis....................................................................................................................9
Research rationale........................................................................................................................9
Structure of the study.................................................................................................................10
Chapter 2: Review of Literature....................................................................................................12
Overview....................................................................................................................................12
Digital Banking..........................................................................................................................12
Factors affecting Digital Banking..............................................................................................14
Benefits and Importance of Digital Banking.............................................................................15
Customer satisfaction in Banking..............................................................................................17
Factors affecting customer satisfaction.....................................................................................19
Theories of customer satisfaction..............................................................................................22

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Benefits of satisfied customers..................................................................................................23
Conceptual Framework..............................................................................................................24
Summary....................................................................................................................................25
Chapter 3: Research Methodology................................................................................................26
Introduction................................................................................................................................26
Research Philosophy..................................................................................................................27
Research Approach....................................................................................................................28
Research Design........................................................................................................................28
Data collection and analysis......................................................................................................29
Sampling technique...................................................................................................................31
Reliability and Validity..............................................................................................................32
Ethical Consideration.................................................................................................................32
Summary....................................................................................................................................33
Chapter 4: Analysis and Discussion..............................................................................................34
Overview....................................................................................................................................34
Descriptive Statistics.................................................................................................................34
Inferential Statistics...................................................................................................................41
Reliability Test...........................................................................................................................41
Correlation Analysis..................................................................................................................42
Regression Analysis...................................................................................................................44

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Hypothesis testing......................................................................................................................46
Findings.....................................................................................................................................47
Summary....................................................................................................................................48
Chapter 5: Discussion....................................................................................................................48
Chapter 6: Conclusion and Recommendations..............................................................................53
Overview....................................................................................................................................53
Linking to Objectives................................................................................................................53
Recommendations......................................................................................................................53
Future scope...............................................................................................................................55
Limtations of the study..............................................................................................................55
References......................................................................................................................................56

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Chapter 1: Introduction
Overview
The paper aims to evaluate the impact of digital banking on client satisfaction. The
organization which has been adopted as the case study can be stated to be the Rokel commercial
bank located in Sierra Leone. The aim of the chapter lies to introduce the readers to the topic
chosen for the analysis and in addition to this, lay a background for the research. This will assist
in the identification of the various ways in which the digital banking can be utilized in order to
improve the customer care and to lift up the revenues of the organization as well ( Singh & Rana,
2019). Therefore, the chapter follows a comprehensive structure whereby the Research
Background, the Problem statement, the Research Objectives, the Research aim and the Research
Questions will be provided which will then assist in understanding the primary goal of the
chapter as well. The Structure which will be followed by the paper will also be provided in the
chapter.
Background
The technology has advanced considerably and therefore, this development has brought
about various changes in the different business processes and procedures (Agnihotri et al., 2016).
The traditional banking practices which had been undertaken can be stated to gone under relative
change and advancement and the digital banking has taken over. The online banking has taken
up a fast rise in terms of banking. The digital banking has not only been successful in providing
an edge to the private banks but has proved to be a boon for the commercial banks as well. The
study is focused on the Sierra Leone market and this allows the clients to access information
from a number of digital systems (Cuesta et al., 2015). The various e-banking services which are
adopted can be considered to be the ATM, credit card and mobile banking services. The digital
banking can be understood to provide a vast range of activities like the e-payments, e transfers
and the enquiries. It leads to addition of value as well as satisfaction to the different services
which are provided to the customers by the bank (Dutta, 2015). Through this endeavour, the
banks are able to deal with the competitive pressure as well perform considerably well in the risk
exposed e-banking service market.

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From the perspective of the different customers, the e-bankers have been enabled to
reduce the costs and access their accounts from any part of the world (Gasser et al., 2017).
Moreover, the banks have been able to reduce their overall banking costs as the personnel
number and count has gone down to a great extent. However, the primary focus of the study lies
to understand the manner in which these digital banking services can lead to higher profits and it
has been rightfully observed that the digital banking tends to have a strong impact on the
satisfaction of the different customers (Hill & Brierley, 2017). However, it has to be understood
that, the digital banking not only impacts the customer satisfaction positively but has a negative
impact as well. This is because, the case of fraudsters and the criminals has increased and this
has led to the destruction of the privacy of the different individuals who have an account and has
put the security of the customers to a great risk (Hussain, Al Nasser & Hussain, 2015).
Problem statement
Digital banking is a comparatively new concept which seeks to assist both the parties
involved in the field of banking to carryout various initiatives which would not only assist them
to make the operations easier and access it at any time of the day but also ensures that the service
which is provided to the different customers can be increased to a great extent (Kaul, 2017). The
different banks around the world are involved in the same operations and often tend to engage in
competition with one another using various parameters like the services offered and the interest
rate provided (Saeidi et al., 2015).
The aim of all the banks is to understand the manner in which they will be successfully
able to serve the different customers and improve their satisfaction level related to the
organization (Kaura, Durga Prasad & Sharma, 2015). Therefore, the study seeks to identify the
positive as well as the negative impacts of the digital banking and newly advanced functions of
the Rokel Bank on the customer satisfaction. The study seeks to identify whether the digital
banking operations affect the customer service and satisfaction positively or negatively.
Moreover, based on this, the study aims to provide viable suggestions to the Rokel Bank which
would help them in improving their digital banking services which would then improve the
operations and the overall transactions as well (Lal & Çekin, 2015).

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Company and Industry background
The Rokel commercial bank came into the existence during the year 1917 as the Barclays
Bank with 100% shares which were owned by the business parents. The company got into
incorporation locally and has undergone certain transfers since then. The major reason for the
transfers can be contributed to the fact that the shareholders have been able to increase their
confidence in the operations of the bank. The bank tends to offer a variety of banking services
like money transfers, investments, calling accounts, checking, savings, VISA debit cards and
other related services (Rokelbank.sl ,2019). The bank has 16 branches which assists it in carrying
out their operations well and is assisting them in serving a large base of customers. The banking
industry in the country has evolved to a great extent and in relation to this, it can be rightfully
mentioned that the new business technologies are being applied in order to ensure that it is being
able to compete with the different competitor banks which are present in the market. In regard to
this, the needs of the clients are being catered to carefully and in relation to this, by the end of
2017, the banking industry where the Rokel Bank is involved in comprises of 14 commercial
banks and other financial institutions as well like the Home Finance Company Limited, the
foreign exchange bureau and the First Discount House limited and others (Rokelbank.sl ,2019).
Along with this, the banks have been able to increase their branches which have led to further
competition around the globe.
Research aim
The research aims to examine the impact of the digital banking on the customer
satisfaction. The bank which has been chosen as the case study is the Rokel Commercial Bank.
Research Objectives
The different research objectives which have been set out for the paper can be stated to be
as follows:
1. To understand the topic related to digital banking in the field of commercial banking.
2. To analyse the manner in which the digital banking may have an impact on the overall
customer satisfaction in the case of Rokel Bank.
3. To find the relationship between digital banking and the consumer satisfaction in the case
of Rokel Bank

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4. To provide certain recommendations based on which the Rokel Bank will be able to
improve the operations and will be able to increase the customer satisfaction of the firm.
Research Questions
The research questions which have been outlined for the purpose of the study can be
stated to be as follows:
 What is the concept of digital banking in the field of commercial banking?
 What is the manner in which the digital banking may have an impact on the overall
customer satisfaction in the case of Rokel Bank?
 What is the relationship between digital banking and the consumer satisfaction in the case
of Rokel Bank?
 What recommendations based can be provided to the Rokel Bank which will help them to
improve the operations and will be able to increase the customer satisfaction of the firm?
Research Hypothesis
The research hypothesis is the method which assists in testable propositions or the
predictive statement which assists in understanding the possible outcome of the scientific
research study which is generally based on the population properties and to understand the
differences between various variables which are usually analyzed in a research. Therefore, in the
given section, the Research Hypothesis which will be adopted for the study has been laid down.
Dependent Variable: Customer Satisfaction
Independent Variable: Digital Banking
Null Hypothesis (H0): The Digital Banking does not have a strong impact on the Customer
Satisfaction at the Rokel Bank.
Alternate Hypothesis (H1): The Digital Banking has a strong impact on the Customer Satisfaction
at the Rokel Bank.
Research rationale
The business environment is highly competitive in nature and in relation to this, it
becomes integral for the different banks to ensure that they are looking out to meet the needs of

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the different customers in the right manner (Larsson & Viitaoja, 2017). This will not only assist
them in ensuring that they are successfully being able to adopt the latest technologies which will
make their overall operations manner but also gives them a hint to improve the overall services
so that they are being able to serve the different customers in the right manner and at the right
time (Lim, Tuli & Grewal, 2019). Therefore, the research aims to examine how the adoption of
the new technologies and the research banking will have a profound impact on the overall
customer satisfaction.
According to Lipton, Shrier and Pentland (2016) , the adoption of the new technology
not only has a profound impact on the customers who are successful being able to improve the
overall operations but also has an impact the different employees in the bank as through this they
are successfully being able to minimize their work and maintain clear records. Additionally, the
digital banking and related transactions has also made it easier for them to see to it that they are
being able to carry out the different customer requests easily and in line with this are being able
to track various fraudulent activities as well. However, as discussed earlier, there are several
negative impacts of the digitalization as well (Mbama & Ezepue, 2018). Therefore, the main aim
of the study is to outline both the positives as well as the negative impacts of the digital
marketing in the domain of social media (Pandya, 2019). In addition to this, the study will
provide certain recommendations on the manner in which the digital banking can be improved to
great extent and can be utilized as a useful tool in order to fulfil the different needs of the
customers and be able to satisfy them and enable them to engage in long term success in the
future (Raskin & Yermack, 2018).
Structure of the study
The research paper is an elongated study which is primarily based on the research which
has been undertaken to find the impact of Digital banking on social media. The study will be
structured in the following manner:
Chapter Contribution
Introduction This chapter throws light on the on the
problem statement, research background and
the research questions which have been defined
for the study. It gives the scope of the project

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and assists in understanding the manner in
which the study will be able to attain the
objectives set out.
Review of Literature This chapter will discuss the concepts related
to the research topic. This can be stated to be
related to the Digital banking, Customer
satisfaction and how they are interconnected to
one another.
Research Methodology The chapter will provide an overview of the
research techniques which will be adopted in
the study and discuss the techniques using the
Research Onion framework. Will assist in
understanding the overall manner in which the
outcomes will be attained.
Findings and Results This will present the findings of the analysis
which have been carried out based on the
research techniques outlined.
Analysis and Discussion This chapter will focus on the discussion of the
findings which have been laid down in the
previous chapter and will focus on providing a
comprehensive analysis of the manner in which
the study is carried out.
Conclusion This will discuss the results of the study and
align them to the objectives. Additionally, the
chapter will also provide some suggestions
which can be followed by the Banks to
improve their digital banking operations.