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According to a book named “Service quality at Vietnam Entrepreneur” published by Ass Prof Dr Phan Chi Anh (2015) through the research of Vietnam National University, the service quality in Vietnam has not yet been getting enough consideration A wide range of real problems including service quality, customer satisfaction and the close-knit relationship between both of them has been discussed in that book, especially in the banking industry.
Customers in particular are crucial to the bank's continued existence and growth For that reason, the bank that captures the interest and devotion of its clients will prosper and expand Therefore, the customer-oriented strategy is becoming the leading strategy of commerce today The challenge that banks constantly strive to solve is how to provide consumers with the highest level of satisfaction Whether a business is small or huge, customer satisfaction is the primary factor determining its success.
Real situation: In the age of technological development, Vietnamese commercial banks must put every effort into catching up with the modernization of banking to satisfy the demands of growing competition, integration, and development As a result, concentrating on establishing contemporary banking applications by constantly diversifying and enhancing the quality-of-service offerings could allow commercial banks to achieve this goal According to TPBank’s official website, TPBank is a commercial joint-stock bank founded in
2008 and has been offering e-banking services for nearly 10 years with the use of technology solutions like eCounter, eGold, and multi-utility consumer card solutions This type of digital banking enables customers to automatically transact remotely and integrates internet banking and mobile banking; money transfers, withdrawals, transaction authentication by face and fingerprint, and QR codes. Moreover, TPBank was the initial bank to introduce an eBank version in the light of modern technology in 2014 To develop and enhance service quality through the system, however, TPBank's e-banking service quality is a topic of particular importance and needs to be tested and evaluated on a regular basis through the digital banking system The nature of the service environment has changed dramatically resulting from the implementation of E-banking service at
Vụ Thi Thu Huong — 11192353- Business English
Vietnamese banks, specifically the shift from the conventional setting to an online environment with a technological platform.
Understanding the reality of how the service works and the difficulties that customers are experiencing, the author has conducted a study on particular factors that E-banking services bring to customers, thereby finding some solutions to overcome difficulties, and propose recommendations to develop E-Banking service at Tien Phong Bank All of these contents will be included in a study named
“A Study on Some Factors Affecting Customer Satisfaction in E-Banking Service and Some Recommendations for its Developments at a Commercial Joint Stock Bank in Hanoi from 2020 to 2022”.
There are three desirable outcomes that the study aims to produce Firstly, this study aims to identify the real situation of customer satisfaction when using E-Banking service of TPBank in recent years The second goal of the study is pointing out and assessing factors affecting the satisfaction of TPBank Hoan Kiem Branch when using E-Banking service, thereby proposing possible recommendations based on opinions of experts in banking industry to improve customer satisfaction when using E-Banking service of TPBank.
Question 1: What is the real situation of Customer Satisfaction when using Tien Phong Bank’s E-Banking Service?
Question 2: What are the factors most affecting customer satisfaction in E- Banking service?
Question 3: What recommendations should be applied to improve Customer Satisfaction when using Tien Phong Bank’s E-Banking service?
The author would limit the research objects of the study which only focus on factors affecting satisfaction of TPBank customers when using E-Banking service,which could lead to much more profound results when investigating Additionally,the research geographical scope is Tien Phong Commercial Joint Stock Bank Hoan
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Kiem Branch in accordance with the time for collecting data is within 3 years while the primary data is gathered in the year 2022 The main contents that the study clarifies is E-Banking, customer satisfaction, and some outstanding factors which have a substantial implication on customer satisfaction when using E-Banking service.
The study consists of 5 main chapters:
Chapter 1: An overview of Tien Phong Commercial Joint Stock Bank
This chapter provides general information about Tien Phong Commercial Joint Stock Bank in terms of foundation and development, governance structure and a brief summary about Customer Service Department at Tien Phong Bank Hoan Kiem Branch.
The second chapter illustrates the basic theoretical background relevant to the concept “E- banking” which consists of definition, the history, and the benefits of e- banking service bring to users Moreover, this chapter also defines the term called customer satisfaction, the relationship between E-banking service and customer satisfaction together with a wide range of factors of adopting E-banking service.
This chapter aims at giving and explaining the methodology used to accomplish the study objectives In this chapter, the introduction of participants as well as the research sample, research model, data gathering methods, and data analysis procedures would be mentioned.
Chapter 4: Some Factors Affecting Customer Satisfaction in E-banking Service at a Commercial Joint Stock Bank in the period from 2020-2022
The fourth chapter would present and analyze data collected from participants to assess the real situation of customer satisfaction when using E- banking service supplied by Tien Phong Bank as well as their opinions regarding factors which are associated with E-banking service As a result, the author would
Vụ Thi Thu Huong — 11192353- Business English be able to find out the existing problems and difficulties By that way, some possible elements influencing the current status of the service will be identified as well.
Chapter 5: Suggested Recommendations to Improve and Develop E-Banking Service of Tien Phong Bank to increase Satisfaction of Customers
In the last chapter, the author would briefly summarize the study and based on experts’ viewpoints to propose recommendations to improve customer satisfaction when using E-Banking service of TPBank.
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CHAPTER I: AN OVERVIEW OF TIEN PHONG COMMERCIAL JOINT
The general information about Tien Phong Commercial Joint Stock Bank will be presented in the first chapter Moreover, the issue with the state of E- banking service operations will be highlighted.
Based on the official website of TPBank, TPBank was a commercial joint stock bank established in May 5", 2008 and officially became a public company and went into operation in September this year Only a month later, TPBank launched the E-Banking service for individual customers and enterprises In December 2008, this bank received ISO 9001:2000 certificate for all of their products and services This is an important milestone contributing to promoting comprehensive governance and management activities in accordance with international management standards for the company After one year of operation, the first General Meeting of Shareholders of TPBank was held in March 2009 with the adoption of important reports and resolutions as well as orientation for development of TPBank in 2009 and the following years In this year TPBank opened many branches in Can Tho, Hai Phong, and Da Nang For the next year, TPBank was officially connected with the system of 1,100 ATMs of Dong A Bank. Thanks to this connection, ATM cardholders of TPBank can make additional transactions at 1,100 ATMs of Dong A Bank Moreover, in July 2010, TPBank received the Award for Standard Electricity Ratio in International Payments in
Organization of the SŠfUdy - 5s kg HH HH nh nh ng 3
The study consists of 5 main chapters:
Chapter 1: An overview of Tien Phong Commercial Joint Stock Bank
This chapter provides general information about Tien Phong Commercial Joint Stock Bank in terms of foundation and development, governance structure and a brief summary about Customer Service Department at Tien Phong Bank Hoan Kiem Branch.
The second chapter illustrates the basic theoretical background relevant to the concept “E- banking” which consists of definition, the history, and the benefits of e- banking service bring to users Moreover, this chapter also defines the term called customer satisfaction, the relationship between E-banking service and customer satisfaction together with a wide range of factors of adopting E-banking service.
This chapter aims at giving and explaining the methodology used to accomplish the study objectives In this chapter, the introduction of participants as well as the research sample, research model, data gathering methods, and data analysis procedures would be mentioned.
Chapter 4: Some Factors Affecting Customer Satisfaction in E-banking Service at a Commercial Joint Stock Bank in the period from 2020-2022
The fourth chapter would present and analyze data collected from participants to assess the real situation of customer satisfaction when using E- banking service supplied by Tien Phong Bank as well as their opinions regarding factors which are associated with E-banking service As a result, the author would
Vụ Thi Thu Huong — 11192353- Business English be able to find out the existing problems and difficulties By that way, some possible elements influencing the current status of the service will be identified as well.
Chapter 5: Suggested Recommendations to Improve and Develop E-Banking Service of Tien Phong Bank to increase Satisfaction of Customers
In the last chapter, the author would briefly summarize the study and based on experts’ viewpoints to propose recommendations to improve customer satisfaction when using E-Banking service of TPBank.
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AN OVERVIEW OF TIEN PHONG COMMERCIAL JOINT
1
2.1.4 E-Banking Service and Customer Satisfaction
Satisfaction of customers is described as results of perception, appraisal, and psychological responses to the experience of consuming a good or service (Saha and Zhao, 2005) The authors went on to say that customer satisfaction is the result of a cognitive and affective appraisal in which some benchmark performance is contrasted with the performance that was actually received Customer satisfaction has the capacity to grow a company's clientele, utilize more unpredictable customer demographics, and enhance the company's brand awareness (Fornell,
1992, as cited in Alabar, 2012) Therefore, sustaining customer happiness through improved products and services is necessary to maintain a competitive edge This is done by intelligently identifying and addressing consumer desires earlier and more effectively than competitors In order to provide customers with services that are speedier and more efficient, e-banking is essential because it brings financial services directly to customers’ places of work or residence, thereby strengthening the relationship between enterprises and their customers Those that use electronic banking, according to Ovia (2002), have a significant impact on customer satisfaction Based on the study's findings, customer care and customer retention should be considered because convenient, simple, and quick banking services are connected to e-banking and human-based delivery processes, which in turn are connected to how customers perceive how these bank services are provided to them.
2.1.5 Benefits of E-Banking Service for Banks and Customers
2.1.5.1 Benefits of E-Banking Service for Banks
According to the Banking Review website, a government banking website of the State Bank of Vietnam, the advantages of e-banking were explicitly stated, which are Fee reduction, transaction speed increase, full service offering possibility, scope of activities expanding, and competitiveness increase, respectively.
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E-banking has revolutionized banking operations, eliminating the need for direct client interactions and automating processes, reducing expenses for banks This efficiency enables commercial banks to operate more profitably, swiftly, and effectively, directly benefiting customers through reduced fees and enhanced convenience Recognizing the shift, commercial banks have proactively embraced e-banking over the last few years to remain competitive and navigate global integration seamlessly.
When compared to traditional banks, transactions on e-banks are executed much faster The human resources team will be able to streamline challenging paperwork, administrative procedures, and daily operations as a result of these occupations having been digitized on the e-banking system Based on the development of the digital transformation process, all of these operations are now done thanks to the use of information technology Because of this, the State Bank and other commercial banks in many nations have the capacity to use digital banking to promote productivity, raise prices, and boost profits.
Commercial banks can work with securities companies, insurance companies, and other financial institutions to develop synchronous utility products that will meet clients’ need for connected services, investment, banking, and insurance. Commercial banks may quickly provide customers with all the information they need about the banks via Electronic Banking, as well as swiftly create programs to offer new products, services, or promotions Banks are able to attract a large number of customers in the current era of electronic transformation by providing a choice of remarkable and distinctive services through mobile banking on their applications.
Scope of activities expanding and competitiveness increase
In the 4.0 era, E-Banking has emerged as a major trend that will assist to improve service quality and increase competitiveness for banks Commercial
Vụ Thi Thu Huong — 11192353- Business English banks confirm e-banking as a method to raise competitiveness, reduce Fee, and improve operational effectiveness and service quality Also, commercial banks can utilize e-banking as a tool to carry out their globalization strategy without having to establish international offices Owners of online lending platform portals are able to replace traditional financial middlemen between customers and banks because they can now provide a wider range of services than just traditional lending As a result, financial institutions are more competitive with one another, which helps customers by allowing them to buy high-quality products at reduced prices Conventional banks will stop offering services and limit their offerings to operational and financial tools.
2.1.5.2 Benefits of E-Banking Service for Customers
Digital banking empowers customers with greater choice and accessibility, eliminating geographical barriers It has revolutionized financial services by introducing customer-centric, user-friendly, and secure solutions Consumers now benefit from services that are frictionless, paperless, cost-effective, and accessible anytime, anywhere These advantages have significantly transformed the banking landscape, enabling customers to access tailored financial products and services that meet their unique needs.
With the utilization of e-banking, customers may access the application that each bank offers more quickly and easily Before the advent of e-banking, logging into an application required inputting both a username and a password Users may now instantly log in by combining fingerprint biometrics or Face ID scanning. Moreover, they can safeguard their accounts from being taken by bad guys more easily thanks to the use of electronic identity and biometrics As a result, significant risks will be reduced, resulting in a positive user experience.
Kagiso and Awelani claim that by using AI to process the data, it is possible to personalize the customer experience and boost consumer value propositions.
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Data has become essential for creating rich client experiences Take Indonesia as an example, where the e-banking revolution first gained traction in the early 2000s when numerous national banks began offering Internet and mobile banking services In Indonesia, the proportion of banking transactions has varied up until this point Transactions that were once made through branches are now made through internet banking channels Because of how quickly technology is developing, it is easily predicted that Indonesian banking clients would move toward a society where there is less cash in circulation in the near future Also, it is hoped that this trend would become widely adopted across the world.
The vast majority of banks claimed that they have automated and customized the client journey to some extent as a result of electronic transformation in the banking industry Due to their remote locations, some clients find it difficult to get banking services through digital channels, while others prefer a brick and mortar banking environment It is challenging to fully automate the client journey due to these issues To those tech-savvy customers, banks provide a fully automated and personalized client journey.
A small number of banks said that they had digitized customer-facing processes and this created advantages such a drop in human error rates, an improvement in customer service timeliness, an increase in customer satisfaction, trust, and loyalty.
2.2 Factors of adopting e-banking service
There are several variables that affect accessibility, which is defined as users' ability to access information and services on the website The contact method includes user settings, hardware, and software; internet connections; environmental factors; and the user's abilities and impairments Reliable prompt responses, attentiveness, and ease of use were found to have significant effects on both consumers’ perceptions of overall service quality and satisfaction, according to Godwin (2001) In the context of online services, Yang and Jun (2002)
Vụ Thi Thu Huong — 11192353- Business English reinterpreted the conventional service quality criteria and proposed an instrument with seven service dimensions (reliability, accessibility, ease of use, personalization, security, credibility and responsiveness) In regard to the usage of technology, such as ATMs, phones, and the internet, Joseph et al (1999) examined banking service quality and identified six factors including accessibility, customization, feedback handling, queue management effectiveness, ease of use, and accuracy As a result, it is assumed that accessibility increases customer satisfaction (Ahmad and Hassan, 2011:51).
According to Uyoga (2018), reliability increases customer satisfaction This indicates that customer satisfaction can be impacted by an organization's capacity to deliver promised services swiftly, accurately, and satisfactorily According to (Yousuf, 2017), satisfaction of customers is impacted by the service quality reliability factor The ability of the business to deliver services in accordance with what is promised accurately and reliably was also highlighted by Famiyeh et al (2018) It proves that reliability has a beneficial impact on customer satisfaction, according to the link between the two variables The higher the level of customer satisfaction is, the more trustworthy the bank values are perceived by consumers.
SOME FACTORS AFFECTING CUSTOMER
General Evaluation of Customer about TPBank mobile app
General Evaluation of Customers about TPBank mobile would directly indicate their level of satisfaction when using E-Banking service This fact could be presented through the following pie chart.
Figure 4.1 Evaluation of customers when using TPBank mobile app
Looking from an overall perspective, it is obvious that there is a large deviation among levels of evaluation regarding the quality of TPBank mobile app. Namely, more than a half of customers give the app Good rating (57%) doubling the number of service users who evaluate the app at Acceptable level However, this statistic still accounts for one fourth which is relatively high Therefore, TPBank needs to take actions to limit such negative evaluations as soon as possible More specifically, the percentage of participants voting TPBank mobile app at the Excellent level is just 14 % which is not really outstanding, thereby allowing TPBank to upgrade their app with a better level of evaluation Last but not least, the percentage of participants who give the app Poor rating is just 4 percent This rating comes from the elderly people at the above 50 years old who are not used to
Vụ Thi Thu Huong — 11192353- Business English utilizing technological gadgets such as mobile phones and TPBank mobile app As a result, they could have negative evaluation about the app they are using.
Customer Satisfaction Evaluation through each factor
After collecting 100 responses from survey questionnaire, the author used an application called Statistical Package for the Social Sciences (SPSS) for the purpose of processing data with the most accurate results The following tables illustrate the input which the author collected from survey questionnaire in terms of Reliability (R), Security (S), Convenience (C), Effectiveness (E), Ease of Use (EOU), and Fee (F).
Reliability Table 4.1 Descriptive Statistics of Reliability factor affecting customer satisfaction
Firstly, in terms of reliability factor from R1 to R5, the R4 variable [E- Banking service is more favourable than visiting the branch for making transactions] stands at the highest rank with the mean = 3.93 which proves that most E-Banking service- users highly appreciate the features as well as the functions of TPBank mobile app Moreover, with the rapid speed of the E-Banking service, customers can quickly complete their transactions within some minutes instead of traveling to the traditional bank branches which is really time- consuming Therefore, customers’ time could be put to much more productive use.
Another outstanding point from the reliability factor is the R3 variable [E-banking service performs customers’ needs right on the first time] which accounts for the lowest value in the table with the mean = 3.72 The reason is that when downloading TPBank mobile app at the first time, some customers often have difficulties in logging in To fix this problem, these customers have to wait for the bank system to send an OTP code to restart the login process which is quite complicated and needs to be fixed in the shortest time.
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Table 4.2 Descriptive Statistics of Security factor affecting customer satisfaction
Considering from S1 to S6 belonging to Security factor, the maximum mean is S2 variable [E-Banking service provides high protection for banking transactions] More specifically, customers most satisfy with the high protection while making transactions through E-Banking service This could be explained by the fact that TPBank mobile app always pay high attention to protecting transactions making process by using Face ID and fingerprints so that none of cybercrimes would fake it Moreover, whenever customers make transactions, they have to enter the code sent to their mobile phone numbers to finish that transaction process It could be concluded that the protection for making transaction process of TPBank is really high and deep, which leads to an increase in customer satisfaction when using E-banking service of TPBank.
Table 4.3 Descriptive Statistics of Convenience factor affecting customer satisfaction
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Thirdly, considering Convenience aspect, the C2 variable is ranked at the highest point with mean = 4.02 This symbolizes that the majority of participants express their agreement with the idea that [Customers can easily pay transactions through Face pay] As mentioned in the above paragraph, TPBank has increasingly modernized their app to provide the best services and products to customers The result is that the more modern features of the app are, the more satisfied customers feel which boosts motivation for upgrading E-banking service with modern technology to improve customer satisfaction completely.
Effectiveness Table 4.4 Descriptive Statistics of Effectiveness factor affecting customer satisfaction
Source: Author’s synthesis The next factor is Effectiveness with the value most brings satisfaction to customers is E2 variable with the mean = 4.02 [T’aio virtual assistant shows cash flow statistics and reminds customers essential transaction] It is a fact that virtual assistant is a special feature of TPBank’s E-banking service which customers really appreciate Thanks to this feature, customers can easily remember all the transactions presented in this history and focus on fundamental transactions.
Ease of Use Table 4.5 Descriptive Statistics of Ease of Use factor affecting customer satisfaction
Source: Author’s synthesis from SPSS
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Considering the Ease of Use factor, the most substantial statistic is EOU4 with the mean = 4.08 [The design of app is friendly for users] symbolizing that most customers agree with the design of the app This information indicates that most customers satisfy with the color, the font as well as the guidelines shown on the app The decisive color of TPBank mobile app is purple and orange which is eye-catching and appropriate for most ages.
Table 4.6 Descriptive Statistics of Fee factor affecting customer satisfaction
Descriptive Statistics es N | ee Std Deviation
Last but not least, in terms of Fee factor from F1 to F4, it is clear that the highest statistic is F2 variable [The fee of E-banking service monthly is always stable] This statement proves that most customers satisfy with the monthly fee of using E-Banking service at Tien Phong Bank The evidence from TPBank’s official website is that TPBank has a policy of free E-Banking service monthly; therefore, customers waste no money to remain their E-Banking which really brings them satisfaction.
The standard deviation values for the observed variables are all in the range of 0.7 to 1, which indicates that with 100 survey respondents, the difference in the rating score of 5 points on the Likert scale can be regarded as being reasonably substantial It is clear that each survey participant routinely approached and utilized E-Banking service, enabling them to remark objectively on the perceived level of service excellence The statements linked to the elements affecting the quality of E-Banking service are given relatively high ratings when examining the average value of the survey's questions, which are rated on a 5-point Likert scale.
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Factors most affect customer satisfaction when using TPBank mobile app 2 Error! Bookmark not defined 1 Factors most affect customer satisfaction in E-Banking service Error!
From all the tables present in the 4.1 Real situation of Customer Satisfaction when using E-Banking service at TPBank, the author recapitulates a table which indicates the Mean Average of 6 factors including Reliability (R), Security (S), Convenience (C), Effectiveness (E), Ease of Use (EOU), and Fee (F) before concluding which factor most affects customer satisfaction when using E-Banking service at TPBank.
Table 4.7 Mean Average of 6 factors affecting Customer satisfaction
Reliability (R) 3.84 Security (S) 3.87 Convenience (C) 3.88 Effectiveness (E) 3.96 Ease of Use (EOU) 3.98
Source: Author’s synthesis from descriptive statistics
Looking from an overall perspective, there is very little difference in the Mean Average of 6 factors affecting customer satisfaction when using E-Banking service Most specially, the average score for the question "A survey measures customer satisfaction after each transaction: [Ease of Use]" is 3.98, which is close to the level of agreement and the highest average value on the scale of factors A reasonably high degree of consumer satisfaction with the E-Banking service can be observed among survey respondents In accordance with Ease of Use factor, Effectiveness is also recorded as the second factor most affecting customer satisfaction when using E-Banking service at TPBank with the value is 3.96 The Fee factor is also ranked at the third place because of the mean 3.94, which demonstrates that most customers highly satisfy with the free costs for using E- Banking service Moreover, in each factor, there is an outstanding variable showing the positive aspect and contributing to bring satisfaction to customers that
Vụ Thi Thu Huong — 11192353- Business English has been pointed out in the above part However, it could be much more wonderful if in the future those statistics would become near 5 points.
4.2.2 Test reliability of the Likert scale
The following tables would indicate the analysis results of the observed variables and the correlation of the total variables, thereby gaining deeper insight into each factor and removing inappropriate factors which fail to meet the standards.
Table 4.8 The reliability test result of Reliability factor
Reliability Statistics Cronbach's Alpha N of Items
Source: Author’s synthesis from SPSS
Analysis of Cronbach's Alpha coefficient of 5 variables in Reliability factor has the result of 0.744 > 0.6, which is considered as an acceptable coefficient. Regarding the total variable correlation coefficient, it is obvious that all the total variable correlation coefficients of all the variables are greater than 0.3, which ensure reliability Therefore, the Reliability factor are measured by 5 variables including R1 [E-banking service is precise and speedy], R2 [The Liveness Check of Live Bank can remember customers’ face accurately], R3 [E-banking service performs customers need right on the first time], R4 [E-Banking service is more
Vụ Thi Thu Huong — 11192353- Business English favourable than visiting the branch for making transactions], R5 [E-Banking service is associated with notifications right after making transactions].
Table 4.9 The reliability test result of Security factor ltem-Total Statistics
Scale Mean if | Scale Variance if Corrected Item- | Cronbach's Alpha Item Deleted Item Deleted Total Correlation if Item Deleted
Source: Author’s synthesis from SPSS
The Cronbach’s Alpha in Security Factor is 0.819, which is regarded as a good coefficient Moreover, the total variable correlation coefficients of all the variables regarding Security are greater than 0.3, which enhances reliability as well as indicates that Security factor are totally calculated by S1 [Face and fingerprint recognition of E-banking do not allow others to access customers’ account], S2 [E- Banking service provides high protection for banking transactions], S3 [E-Banking service is secured and safe from any frauds or cyber criminals], S4 [The security devices of the E-Banking service protect the data that are sent by customers], S5[E- Banking services offers secure personal privacy], S6 [E-Banking site does not share any personal].
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Table 4.10 The reliability test result of Convenience factor
Scale Mean if | Scale Variance if | Corrected Item-Total | Cronbach's Alpha if
Item Deleted Item Deleted Correlation Item Deleted
The table indicates that the Cronbach’s Alpha of Convenience factor is 0.707 > 0.6, so it is an acceptable coefficient Furthermore, the same as Reliability and Security, total variable correlation coefficients of Convenience element are all greater than 0.3 Therefore, it is concluded that Cl [Live Bank and E-Banking service is available 24/7], C2 [Customers can easily pay transactions through Face pay], C3 [Live Bank system can play a key role as a traditional transaction counter such as recharging cash into accounts, opening online savings], C4 [The system of ATM is distributed densely to serve customers’ needs], C5 [The ATM system allows customers to withdraw money even if customers leave bank cards at home] are all reliable.
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Table 4.11 The reliability test result of Effectiveness factor
Scale Mean if | Scale Variance if | Corrected ltem- Cronbach's Alpha if Item Item Deleted Item Deleted Total Correlation Deleted
From the table, the author observes that the Cronbach’s Alpha coefficient enclosed with Effectiveness factor is 0.692 > 0.6 Additionally, the total variable correlation coefficients of all the Effectiveness variables are greater than 0.3, thereby boosting reliability In another way, Effectiveness factor is identified by
EI [Voice Pay feature helps customers to transfer money and make transactions, thereby saving time], E2 [T’aio virtual assistant shows cash flow statistics and reminds customers essential transaction], E3 [Customers can complete any transaction quickly through the E-Banking service channels], and E4 [Help is immediately available if there is any problem].
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Table 4.12 The reliability test result of Ease of Use factor ltem-Total Statistics
Scale Mean if | Scale Variance if | Corrected Item- | Cronbach's Alpha if Item Item Deleted Item Deleted Total Correlation Deleted
The table provides information that the Cronbach’s Alpha of Ease of Use factor is 0.692 > 0.6 and the total variable correlation coefficients of variables relating to Ease of Use all exceed 0.3, confirming the reliability As a result, Ease of Use factor are indicated by EOU1 [E-Banking service enables customers to use nickname as account number without remembering long sequence], EOU2 [E- Banking services are provided in various languages], EOU3 [Interaction with the E-Banking system is clear and understandable], EOU4 [The design of app is friendly for users], and EOUS [E-Banking service is enclosed with explicit guidelines for customers to use].
Vụ Thi Thu Huong — 11192353- Business English
Table 4.13 The reliability test result of Fee factor ltem-Total Statistics
Scale Mean if | Scale Variance if | Corrected Item- | Cronbach's Alpha if Item Item Deleted Item Deleted Total Correlation Deleted
The table illustrates that Cronbach’s Alpha of Fee factor is 0.681 which is greater than 0.6 Moreover, the same as all the above factors, the total variable correlation coefficients of variables relating to Fee all exceed 0.3, showing the reliability Therefore, all the variables FI [The fee for opening bank account is affordable], F2 [The fee of E-banking service monthly is always stable], F3 [The fees for making online transactions are highly competitive], and F4 [E-Banking service offers a particular discount in paying electricity and water bills] are used to identify Fee factor.
Vụ Thi Thu Huong — 11192353- Business English
SUGGESTED RECOMMENDATIONS TO IMPROVE
CUSTOMER SATISFACTION WHEN USING E-BANKING SERVICE
OF TIEN PHONG COMMERCIAL JOITN STOCK BANK
According to the research results about factors affecting customer satisfaction when using E-Banking service, there are 3 factors including Reliability, Security, and Convenience having the least implications on customer satisfaction.
In terms of reliability, due to some login errors such as entering e-Token code or even re-downloading TPBank mobile app, E-banking service cannot perform customers’ needs right on the first time Put into security perspective, despite the fact that E-Banking service utilizes Face ID and Fingerprint in making transaction process, customers still do not believe totally in the service quality of E-Banking. Considering convenience aspect, there are still cases that customers call hotline for the support of their bank accounts However, their needs are not solved immediately right after their call, which generally affects bank image in the mindset of customers The progress of global economic integration has increased competition in the banking services sector, giving customers more and more options to select the goods and services that best suit their requirements As a result, there is also a downward tendency in the level of customer loyalty to the bank.
Regarding these matters, the experts participating in interview propose recommendations to improve customer satisfaction and raise their brand awareness such as boosting reliability and security of the TPBank mobile app to avoid risks while making transactions, enhancing the convenience of the app, promoting information technology method as well as establishing a staff training strategy.
5.1 Boosting reliability and security to prevent risks while making transactions
To ensure the continued growth of the E-Banking service, thereby increasing customer satisfaction, TPBank has to implement the proper solutions to enhance reliability and security.
TPBank should implement robust internal control processes to maintain a complete audit trail This includes documenting all electronic transaction processes, including account openings, modifications, and closures, financial result alterations, right transfers, and system access changes By adhering to these strict protocols, TPBank safeguards its data and ensures the integrity of its financial operations.
Vụ Thi Thu Huong — 11192353- Business English revoked The team will be able to concentrate on providing excellent customer service while running Fee will be decreased thanks to this technology.
Second, to safeguard the accuracy of transactions and information, all banking data and archives must be kept secret Access is only permitted for authorized individuals, entities, or systems Additionally, to prevent unauthorized access while processing, transactions are logged, verified, and updated based on best practices Control mechanisms must be constantly updated to prevent hackers who are more skilled at breaking into systems.
Thirdly, it is really critical to employ security measures like two-factor authentication in order to ensure the transactions’ validity and security Create a multi-round user authentication control mechanism before providing users access to the system Any network-connected devices that do not follow security guidelines should also be disabled or isolated, and the administrator should be informed.
Prior to registering for the service, clients should receive information from TPBank regarding the advantages and hazards of using the E-Banking service. Customers must be fully and accurately informed of their rights, obligations, and responsibilities with regard to transactions made through the bank's E-Banking service Customers must also be made aware of the bank's privacy policies regarding their personal information and the need to safeguard the security of the system Finally, the policies must specify how to handle reports and analyses in the event of a dispute.
5.2 Enhancing the convenience of E-Banking for customers
The results of the study show that convenience has a positive impact on consumer satisfaction Therefore, E-Banking service must be highly networked in order to meet customer expectations With a view to meet the greatest payment needs of clients, TPBank bank must also broaden its network and partner with other businesses to invest in the electronic payment system Furthermore, TPBank should fund product research and development, lay the foundation for products with ever-higher tech applications, incorporate a variety of features, and work toward related product bundles, cross-selling the entire bank, among other things. The bank maintains the safety, accuracy, and speed of transactions while continuing to streamline the processes.
Vụ Thi Thu Huong — 11192353- Business English
TPBank should supply customers’ information demands 24/7 via contact centers and the internet in accordance with improve customer service and implement support at the branch, including free support hotline calls, transaction manual, routine equipment maintenance, and the provision of new help tools, and handle new issues for clients when they arise as soon as possible Streamline processes and reduce the amount of time it takes to respond to consumer complaints about issues they have with the bank's e-banking services In addition, TPBank should reduce the time it takes to process complaints regarding issues consumers have with the bank's e-banking service through streamlining procedures.
In order to meet customers’ expectations for E-Banking, TPBank must also accurately convey the benefits of using the service, establish and maintain strong relationships with clients, and adapt the E-Banking service to meet those needs In order to create a new service that meets customers’ transactional needs, research and surveys of client expectations need also be improved Furthermore, TPBank is capable of classifying customers and developing strategies that are suited for offering a variety of services to satisfy the needs and preferences of various consumer groups.
5.3 Promoting information technology (IT) to improve the features of the app
With an emphasis on perfecting and enhancing the E-banking service, TPBank can use information technology more consistently This will boost the application's features, accuracy, safety, speed, and overall usefulness for consumers Also, so that consumers may access and utilize more specialized services, the bank's information technology team must frequently update data and add new features to the program This will enable the bank to demonstrate how it moves with the times and develops continuously In a time where technology advances quickly, younger people are embracing digital banking services in general and smart banking applications in particular As a result, the application development strategy not only helps keep current consumers, but also draws in more new ones Furthermore, there should be a focus on advancing information technology to quicken transaction processing As consumers have mentioned, maintenance mistakes frequently occur, which makes it challenging for them to complete transactions in an emergency Thus, TPBank needs to be outfitted with a cutting-edge information technology system that can handle information quickly and with a high level of professionalism This makes it possible to process the
Vụ Thi Thu Huong — 11192353- Business English enormous volume of transactions that the E-Banking service generates in the lowest amount of time that clients can tolerate.
To enhance user engagement, TPBank is considering incorporating new features based on user feedback These may include establishing a donation fund for individuals facing financial hardship, natural disasters, or medical emergencies Additionally, the app could allow users to personalize their experience by modifying their profile picture or user interface background Such tailored features aim to attract and retain users by catering to their specific preferences.
5.4 Upgrading brand image and credibility
A strong customer experience has an indisputable influence, according to Jim Marous (2022) In reality, according to a variety of indicators, businesses that make investments in enhancing customer experiences perform better than those that do not Customers’ perceptions of a bank are crucial, and in this study especially, a commercial bank's attractive image is one that encourages clients to use any financial service service for smart banking Banks need to improve how well they are perceived by customers It is crucial to recognize the importance of establishing and maintaining a brand image which leads to that TPBank needs constantly make efforts to maintain and increase its reputation and brand identity such as investing in building color brand identity including uniforms, logos and actively participating in social welfare activities Furthermore, TPBank needs to put additional measures into place in order to keep boosting the prestige and brand image.
Developing and maintaining a consistent brand identity system that appeals to customers should be consistent throughout the entire system, including the general design of the corporate headquarters, the interior and exterior decorations, the interior and exterior workplace environment, the type, quality, and style of transactions, as well as daily staff uniforms Furthermore, the bank can support and maintain public relations initiatives including prompt financial aid to regions hit by natural disasters, the development of charitable programs to aid the needy, and assistance to kids facing challenging situations In particular, during the transaction process, the staff must pay close attention to customers with a committed service, warm service attitude, handle customer transactions accurately and professionally to solve customers’ problems, thereby earning the trust and sympathy of customers,
Vụ Thi Thu Huong — 11192353- Business English retaining existing customers, and gaining new ones Customer service is the final tactic to improve the bank's reputation; if clients have any remaining concerns or questions regarding the E-Banking service, they should be joyfully addressed and counseled Customers will therefore experience perfect security and comfort when utilizing the E-Banking service.
5.5 Establishing a professional staff training strategy
Jim Marous (2021) made the observation that staff must adapt to new roles and perspectives in a time when the vast majority of financial institutions emphasize the digital banking transformation He made this point in an article about how to speed up the transformation of the banks Workers who reject these adjustments will not only fall behind, but digital banking revolutions will also be unsuccessful All nations have been putting a lot of effort into enhancing the quality of their human resources since in the modern economy, people's knowledge and skills have become some of the most precious resources for their respective nations For TPBank, qualified human resources in particular are crucial to the growth of e-banking services The proper implementation of TPBank's E-Banking service would not be possible without knowledgeable support personnel.