Study customer satisfaction with the quality of e banking service of joint stock commercial bank for foreign trade of vietnam

ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - NGUYỄN VŨ HẢI STUDY CUSTOMER SATISFACTIONWITH THE QUALITY OF E-BANKING SERVICES AT JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIET NAM NGHIÊN CỨU SỰ HÀI LÒNG CỦA KHÁCH HÀNG ĐỐI VỚI DỊCH VỤ NGÂN HÀNG ĐIỆN TỬ CỦA NGÂN HÀNG THƯƠNG MẠI CỔ PHẦN NGOẠI THƯƠNG VIỆT NAM LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH HÀ NỘI - 2018 ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - NGUYỄN VŨ HẢI STUDY CUSTOMER SATISFACTIONWITH THE QUALITY OF E-BANKING SERVICES AT JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIET NAM NGHIÊN CỨU SỰ HÀI LÒNG CỦA KHÁCH HÀNG ĐỐI VỚI DỊCH VỤ NGÂN HÀNG ĐIỆN TỬ CỦA NGÂN HÀNG THƯƠNG MẠI CỔ PHẦN NGOẠI THƯƠNG VIỆT NAM Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: TS BÙI QUANG HƯNG Hà Nội - 2018 DECLARATION The author confirms that the research outcome in the thesis is the result of author’s independent work during study and research period and it is not yet published in other’s research and article The other’s research result and documentation (extraction, table, figure, formula,and other document) used in the thesis are cited properly and the permission (if required) is given The author is responsible in front of the Thesis Assessment Committee, Hanoi School of Business and Management, and the laws for above-mentioned declaration Date: Dec, 20, 2017 ACKNOWLEDGEMENT I have gained huge knowledge, skill and insights from my MBA course The course raises my capacity of administration and management up to the next level I am now very confident in my position of management I would like to extend my sincerest thanks and appreciation to all those who have made this Thesis to be possible I woud like to express my great gratitude to my supervisor Phd Bui Quang Hungfor him useful comments, remarks and engagement during my process of doing this master thesis Also, I would like to give my sincere thanks tocustomers of internet banking service quality at Vietcombank, in my survey, who have willingly spent their precious time joining the interview Sincere thanks are extended to the Hanoi School of Business and Management Vietnam National University, Hanoi for equipping me with huge knowledge and skills through various interesting and practical subjects I also would like to thanks my classmates for their friendship and reciprocal encouragement to make our class time to be unforgettable time STUDY CUSTOMER SATISFACTIONWITH THE QUALITY OF EBANKING SERVICES AT JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIET NAM Summary of the results Research overview on service quality and customer satisfaction, the relationship between service quality and satisfaction with e-banking services Analysis of the actual situation of providing electronic banking services at Joint Stock Commercial Bank for Foreign Trade of Vietnam Analysis of customer survey results using services on service quality and satisfaction with the quality of e- banking services through the elements of empathy, tangible means, responsiveness, assurance, reliability, price, service satisfaction Propose solutions and recommendations on each factor to improve customer satisfaction with e-banking services of Vietcombank Applicability in practice The results of this research has high practical significance, as research on ebanking services is an urgent and timely issue for the banking industry and the quality of ebanking services is the issue that banks care about Therefore, the results of the thesis will contribute to the clarification of the role of quality of service with customer satisfaction, thereby helping banks to improve the quality of service effectively TABLE OF CONTENTS TABLE OF CONTENTS i LIST OF TABLES i LIST OF FIGURES AND CHARTS ii INTRODUCTION CHAPTER 1: RATIONALE AND RESEARCH MODEL 12 1.1 General overview about Electronic-banking and Electronic-banking services 12 1.1.1 Basic concepts 12 1.1.2 Benefits of E-banking services 13 1.1.3 E-banking services 16 1.1.4 The necessity of improving customer satisfaction with e-banking services at commercial banks 18 1.2 Customer satisfaction with E-banking 19 1.2.1 Concept of customer satisfaction with E-banking 19 1.2.2 Research model on customer satisfaction with E-banking service 20 1.2.3 Results of qualitative research and research model of the thesis 25 1.4 Experience lessons on improving customer satisfaction with E-banking services of the banks 27 1.4.1 Experience lessons of some banks in the worlds 27 1.4.2 Experience lessons of some commercial banks in Vietnam 29 1.4.3 Experiences for commercial joint stock commercial banks in Vietnam30 CHAPTER 2: ASSESS CUSTOMER SATISFACTION WITH THE QUALITY OF E-BANKING SERVICES AT JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM 32 2.1 Overview of Joint Stock Commercial Bank for Foreign Trade of Vietnam 32 2.1.1 The process of establishment and development 32 2.1.2 Functions and rights 33 2.1.3 Organizational structure and duties of departments 34 2.1.4 Results of production and business activities 34 2.2 The actual situation of providing e-banking services at Joint Stock Commercial Bank for Foreign Trade of Vietnam 39 2.2.1 Structure and scale of e-banking services 39 2.2.2 Products of e-banking services 40 2.2.3 Number of customers using e-banking services 41 2.2.4 Prices of e-banking services 43 2.3 Customer survey results on e-banking services of Joint Stock Commercial Bank for Foreign Trade of Vietnam 45 2.3.1 Information on the sample 45 2.3.2 Assess the reliability scale 48 2.3.3 Linear regression analysis 52 2.3.3.1 Test correlation coefficient matrix 52 2.3.4 Differences in Customer Satisfaction among individual characteristics58 2.3.5 Customer evaluation of the factors in the model 60 2.4 General conclusion 67 2.4.1 Advantages 67 2.4.2 Limitations and reason for limitations 68 CHAPTER 3: PROPOSE SOLUTIONS TO IMPROVE CUSTOMER SATISFACTION WITH THE QUALITY OF E-BANKING SERVICES AT JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIET NAM 70 3.1 Summary of the research 70 3.2 Solutions to improve customer satisfaction with the quality of e-banking services at Joint Stock Commercial Bank for Foreign Trade of Viet Nam 70 3.2.1 Solutions to enhance empathy 70 3.2.2 Solutions to enhance tangibles 71 3.2.3 Solution to the responsiveness 72 3.2.4 Solutions to the assurance 73 3.2.5 Solutions to the reliability 73 3.2.6 Solutions to the price 74 CONCLUSION, LIMITATION AND CONTRIBUTION OF RESEARCH 76 APPENDIX 80 Appendix 01: SURVEY FORMS E-BANKING 80 Appendix 02: Results of survey data analysis 84 LIST OF TABLES Table 2.1: Structure and scale of e-banking services at Vietcombank 39 Table 2.2: Types of e-banking products 40 Table 2.3: Number of customers using types of e-banking services 42 Table 2.4: Prices of some types of e-banking services 43 Bảng 2.9 : Results of the reliability test of the scale 48 Table 2.10 : Rotation matrix of independent variables 50 Table 2.11: Results of EFA for dependent variables 51 Table 2.12 Person correlation matrix of factors 52 Table 2.13: Summary of regression model 53 Table 2.14: Results of testing the suitabilityof regression model (Anova) 53 Table 2.15: Results of regression analysis 54 Table 2.16: Synthetization of the results of testing research hypothesis 55 Table 2.17: Speaman correlation matrix 58 Table 2.18: Differences in Customer Satisfaction among individual characteristics 58 Table 2.19: Evaluation of empathy 60 Table 2.20: Evaluation of Tangible Vehicles 61 Table 2.21: Evaluation of Responsiveness 63 Table 2.22: Evaluation of assurance 64 Table 2.23: Evaluation of trust 65 Table 2.24: Evaluation of price factor 66 Table 2.25 : Evaluation of customer satisfaction 67 i LIST OF FIGURES AND CHARTS Figure 1.1: Model of the author Diana Marija Taraškevičiūtė .21 Figure 1.2: Research model of the author Vijay M Kumbhar (2011) 23 Figure 1.3: Research model of the author Vu Dinh Y Yen Van (2011) 24 Figure 1.4: Model of the author Nimako et al (2013) 25 Figure 1.5: Proposed model of the author 26 Chart 2.1: Results of capital mobilization at VCB in the period of 2014-2016 34 Chart 2.2: Total outstanding of VCB in the period of 2014-2016 .36 Chart 2.3 VCB’s revenue from services in the period of 2014-2016 37 Chart 2.4 General business activities of VCB in the period of 2014-2016 38 Figure 2.1: The standard distribution of residuals 56 Graph 2.2: Distributed graph among residuals and standardized residuals 57 ii Item-Total Statistics Scale Mean if Item Deleted Scale Variance if Item Deleted Corrected Item-Total Correlation Cronbach's Alpha if Item Deleted GIACA 10.98 7.335 749 886 GIACA 11.06 6.979 812 863 GIACA 11.21 6.996 781 875 GIACA 11.05 7.202 787 873 Reliability Statistics Cronbach's Alpha N of Items 858 Item Statistics Mean Std Deviation N HLCL1 3.54 610 293 HLCL2 3.49 665 293 HLCL3 3.55 626 293 HLCL4 3.56 631 293 91 Item-Total Statistics Scale Mean if Item Deleted Scale Variance if Item Deleted Corrected Item-Total Correlation Cronbach's Alpha if Item Deleted HLCL1 10.61 2.767 673 832 HLCL2 10.66 2.686 631 851 HLCL3 10.60 2.687 695 823 HLCL4 10.59 2.476 822 769 KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy .838 Approx Chi-Square Bartlett's Test of Sphericity 5322.214 df 378 Sig .000 Total Variance Explained Compone Initial Eigenvalues Extraction Sums of nt Squared Loadings Tota % of Cumulativ Tota % of Cumulativ l Varianc e% l Varianc e% e e 4.81 4.81 17.210 17.210 17.210 17.210 9 3.88 3.88 13.868 31.078 13.868 31.078 3 3.73 3.73 13.345 44.422 13.345 44.422 7 2.89 2.89 10.342 54.764 10.342 54.764 6 92 Rotation Sums of Squared Loadings Tota % of Cumulativ l Varianc e% e 3.93 14.062 14.062 3.68 13.154 27.216 3.50 12.516 39.732 3.21 11.487 51.219 2.81 2.81 10.053 64.817 10.053 5 2.52 2.52 9.028 73.845 9.028 8 641 2.288 76.133 609 2.176 78.309 525 1.874 80.183 10 510 1.821 82.003 11 466 1.664 83.668 12 397 1.417 85.084 13 387 1.384 86.468 14 384 1.370 87.838 15 346 1.237 89.076 16 319 1.140 90.215 17 307 1.096 91.311 18 296 1.056 92.367 19 284 1.015 93.382 20 272 971 94.352 21 252 901 95.253 22 238 850 96.103 23 223 795 96.899 24 219 782 97.681 25 185 660 98.341 26 175 624 98.965 27 160 570 99.534 28 130 466 100.000 Extraction Method: Principal Component Analysis Rotated Component Matrixa Component STC5 STC6 STC4 STC1 STC3 STC2 SDC5 SDC4 SDC3 859 826 815 784 775 748 897 859 845 93 3.21 11.463 3.12 73.845 11.163 64.817 62.682 73.845 SDC1 824 SDC2 818 PTHH5 892 PTHH1 892 PTHH4 787 PTHH3 785 PTHH2 764 SDB4 903 SDB3 893 SDB1 893 SDB2 874 SDU2 SDU1 SDU3 SDU4 GIACA2 GIACA4 GIACA3 GIACA1 Extraction Method: Principal Component Analysis Rotation Method: Varimax with Kaiser Normalization a Rotation converged in iterations .895 889 886 865 897 885 873 854 KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy .785 Approx Chi-Square Bartlett's Test of Sphericity 568.802 df Sig .000 94 Total Variance Explained Component Initial Eigenvalues Total % of Variance Extraction Sums of Squared Loadings Cumulative % 2.820 70.512 70.512 516 12.894 83.406 448 11.208 94.614 215 5.386 100.000 Extraction Method: Principal Component Analysis Component Matrixa Component HLCL4 914 HLCL3 837 HLCL1 817 HLCL2 785 Extraction Method: Principal Component Analysis a components extracted 95 Total 2.820 % of Variance 70.512 Cumulative % 70.512 SDC Correlations PTHH SDU Pearson 092 105 Correlation SDC Sig (2-tailed) 117 072 N 293 293 293 Pearson 092 231** Correlation PTHH Sig (2-tailed) 117 000 N 293 293 293 Pearson 105 231** Correlation SDU Sig (2-tailed) 072 000 N 293 293 293 Pearson -.058 -.019 029 Correlation SDB Sig (2-tailed) 320 749 621 N 293 293 293 Pearson 144* 060 040 Correlation STC Sig (2-tailed) 013 306 498 N 293 293 293 Pearson -.052 056 084 Correlation GIACA Sig (2-tailed) 379 341 150 N 293 293 293 Pearson 464** 534** 417** Correlation HLCL Sig (2-tailed) 000 000 000 N 293 293 293 * Correlation is significant at the 0.05 level (2-tailed) ** Correlation is significant at the 0.01 level (2-tailed) 96 SDB STC GIACA HLCL -.058 144* -.052 464** 320 293 013 293 379 293 000 293 -.019 060 056 534** 749 293 306 293 341 293 000 293 029 040 084 417** 621 293 498 293 150 293 000 293 117* 083 271** 293 046 293 158 293 000 293 117* 026 359** 046 293 293 660 293 000 293 083 026 271** 158 293 660 293 293 000 293 271** 359** 271** 000 293 000 293 000 293 293 Correlations SDC PTHH SDU Correlation Coefficient SDC Sig (2-tailed) N Correlation Coefficient PTHH Sig (2-tailed) N SDU Spearman's SDB rho STC Correlation Coefficient Sig (2-tailed) N Correlation Coefficient Sig (2-tailed) N Correlation Coefficient Sig (2-tailed) N Correlation Coefficient GIACA Sig (2-tailed) N Correlation Coefficient HLCL Sig (2-tailed) SDB STC GIACA HLCL -.063 496** 1.000 056 119 -.046 137 293 336 293 143 293 434 293 119 293 282 293 056 1.000 192 001 060 084 521** 336 293 293 101 293 980 293 309 293 154 293 119 192 1.000 107 014 046 424** 143 293 101 293 293 068 293 810 293 434 293 -.046 001 107 1.000 101 056 268** 434 293 980 293 068 293 293 086 293 343 293 137 060 014 101 1.000 007 316** 119 293 309 293 810 293 086 293 293 902 293 -.063 084 046 056 007 282 293 154 293 434 293 343 293 902 293 496** 521** 424** 268** 316** 000 000 000 293 000 293 000 293 000 293 000 293 1.000 258** 293 000 293 258** 1.000 000 000 000 000 N 293 293 293 * Correlation is significant at the 0.05 level (2-tailed) ** Correlation is significant at the 0.01 level (2-tailed) 293 293 293 293 97 Model Summaryb Model R R Adjusted Std Change Statistics Square R Error of R F df1 df2 Square the Estimate Square Change Change 848a 719 713 28441 719 121.726 DurbinWatson Sig F Change 286 000 1.882 a Predictors: (Constant), GIACA, STC, PTHH, SDB, SDC, SDU b Dependent Variable: HLCL ANOVAa Model Sum of Squares df Mean Square F Regression 59.078 9.846 Residual 23.134 286 081 Total 82.212 292 Sig .000b 121.726 a Dependent Variable: HLCL b Predictors: (Constant), GIACA, STC, PTHH, SDB, SDC, SDU Coefficientsa Model Unstandardized Coefficients B (Constant) Std Error Standardized Coefficients t Sig Beta Collinearity Statistics Tolerance VIF -.133 143 -.927 355 SDC 232 019 392 12.227 000 956 1.046 PTHH 250 019 420 12.968 000 938 1.066 SDU 139 019 243 7.479 000 932 1.072 SDB 134 017 249 7.844 000 973 1.027 STC 160 022 233 7.280 000 961 1.041 GIACA 134 019 221 6.965 000 981 1.019 a Dependent Variable: HLCL 98 99 Descriptive Statistics N Minimum Maximum Mean Std Deviation SDC1 293 3.57 996 SDC2 293 3.32 1.069 SDC3 293 3.36 1.125 SDC4 293 3.48 1.052 SDC5 293 3.61 1.017 SDC 293 1.0000 5.0000 3.468259 8982380 PTHH1 293 3.54 1.087 PTHH2 293 3.33 1.045 PTHH3 293 3.36 1.069 PTHH4 293 3.31 1.090 PTHH5 293 3.54 1.071 PTHH 293 1.0000 5.0000 3.418430 8909370 SDU1 293 3.66 1.000 SDU2 293 3.46 1.005 SDU3 293 3.58 1.055 SDU4 293 3.66 1.088 SDU 293 1.00 5.00 3.5913 92667 SDB1 293 3.57 1.091 SDB2 293 3.49 1.029 SDB3 293 3.33 1.115 SDB4 293 3.37 1.170 SDB 293 1.00 5.00 3.4394 98597 STC1 293 3.63 969 100 STC2 293 3.35 937 STC3 293 3.35 1.009 STC4 293 3.50 942 STC5 293 3.52 964 STC6 293 3.57 954 STC 293 1.0000 5.0000 3.489192 7746315 GIACA1 293 3.79 981 GIACA2 293 3.71 1.001 GIACA3 293 3.56 1.024 GIACA4 293 3.71 976 GIACA 293 1.00 5.00 3.6920 87588 HLCL1 293 3.54 610 HLCL2 293 3.49 665 HLCL3 293 3.55 626 HLCL4 293 3.56 631 HLCL 293 1.00 4.75 3.5375 53061 Valid N (listwise) 293 Group Statistics GioiTinh N Mean Std Deviation Std Error Mean Male 126 3.5337 52092 04641 Female 167 3.5404 53935 04174 HLCL 101 Independent Samples Test Levene's Test for Equality of Variances F Sig t-test for Equality of Means t df Sig Mean Std Error 95% (2- Difference Difference Confidence tailed) Interval of the Difference Lower Upper Equal variances assumed 248 619 107 291 915 -.00669 06272 11675 13013 274.004 107 915 -.00669 06241 11618 12956 HLCL Equal variances not assumed Descriptives HLCL N Mean Std Deviation Std Error 95% Confidence Interval for Mean Lower Bound Minimum Maximum Upper Bound Under 25 74 3.4324 63069 07332 3.2863 3.5786 1.00 4.50 25-35 74 3.6047 45707 05313 3.4988 3.7106 2.00 4.25 36-45 77 3.6169 49268 05615 3.5051 3.7287 2.00 4.75 Over 45 68 3.4890 51368 06229 3.3646 3.6133 1.75 4.50 Total 293 3.5375 53061 03100 3.4765 3.5986 1.00 4.75 102 Test of Homogeneity of Variances HLCL Levene Statistic df1 2.497 df2 Sig 289 060 ANOVA HLCL Sum of Squares Between Groups df Mean Square 1.797 599 Within Groups 80.415 289 278 Total 82.212 292 F 2.152 Sig .094 Descriptives HLCL N Mean Std Std Deviation Error 95% Confidence Minimum Maximum Interval for Mean Lower Bound Upper Bound Nhân viên văn phòng 93 3.5806 40237 04172 3.4978 3.6635 2.50 4.50 Doanh nhân 85 3.6353 57935 06284 3.5103 3.7603 1.75 4.75 Học sinh/Sinh viên 62 3.5363 50580 06424 3.4078 3.6647 2.00 4.50 Hưu trí 53 3.3066 61559 08456 3.1369 3.4763 1.00 4.00 293 3.5375 53061 03100 3.4765 3.5986 1.00 4.75 Total 103 Test of Homogeneity of Variances HLCL Levene Statistic df1 2.590 df2 Sig 289 053 ANOVA HLCL Sum of Squares Between Groups df Mean Square F 3.812 1.271 Within Groups 78.400 289 271 Total 82.212 292 4.684 Sig .003 Descriptives HLCL N Mean Std Std Deviation Error 95% Confidence Minimum Maximum Interval for Mean Lower Bound Trên đại học Upper Bound 43 3.5640 50912 07764 3.4073 3.7206 2.00 4.50 170 3.5368 56439 04329 3.4513 3.6222 1.00 4.75 Cao đẳngTrung cấp 67 3.5261 48292 05900 3.4083 3.6439 2.00 4.25 Khác 13 3.5192 41409 11485 3.2690 3.7695 3.00 4.25 Total 293 3.5375 53061 03100 3.4765 3.5986 1.00 4.75 Đại học 104 Test of Homogeneity of Variances HLCL Levene Statistic 430 df1 df2 Sig 289 732 ANOVA HLCL Sum of Squares Between Groups df Mean Square 043 014 Within Groups 82.169 289 284 Total 82.212 292 105 F Sig .051 985 ... competitiveness by increasing the number of customers using the services Hence, the higher the customer satisfaction is, the greater the competitiveness of the bank becomes Second, the purpose of. .. banking service of Joint Stock Commercial Bank for Foreign Trade of Vietnam - Satisfaction of customer using electronic banking service of Joint Stock Commercial Bank for Foreign Trade of Vietnam. .. of E- banking services * For customers E- banking provides customers with the benefits as follows: - The biggest advantage of e- banking services for customers is the convenience and readiness Customers