THE CUSTOMER SATISFACTION OF ELECTRONIC BANKING SERVICES OF VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK (VPBANK) The developnent of advanced technology has brought many benefits and created new demands associated with electronic products including electronic banking services. The main aim of this disertation is to develop the quality of electronic banking services of Vpbank based on studying the customer satisfaction with these services. There are 4 objectives that this thesis will deal with. The first thing that this study focuses on is factors affecting customer satisfaction of Electronic Banking services of Vpbank based on the model of Servqual inclusing User Interface, Service Fee, Responsiveness, Reliability, Empathy, And Assurance. Secondly, the survey will test the effect of each factor on the satisfaction of customers and assess customer satisfaction with Electronic Banking services of Vpbank. Moreover, whether there is a difference in customer satisfaction level according to factors such as gender, age, and time of service use will be evaluated carefully. Finally, based on the statistics, recommendations to enhance the customer satisfaction as well as the quality of ebanking services of Vpbank will be made. The disertation is structured in five main chapters: (1) Introduction, refering to objectives, scope and delimitation of the research; (2) Literature Review, introducing the background knowledge and models commonly used when assessing the customer satisfaction with services; (3) Methodology, presenting research design; (4) Results and Discussion; (5) Conclusion and Recommendations, discussing the conclusion and giving recommendations to better Vpbank’s ebanking services.
BANKING ACADEMY FACULTY OF FOREIGN LANGUAGES GRADUATION THESIS THE CUSTOMER SATISFACTION OF ELECTRONIC BANKING SERVICES OF VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK (VPBANK) Ha Noi, May, 2019 1 ACKNOWLEDGEMENTS This part is delicated to the following beloved people without whom I could not completed my thesis Throughout the writing of this dissertation I have received a great deal of support I would first like to express the deepest and most sincere gratitute to my supervisor, Ms Can Thuy Lien I am forever gratefull for the valuable guidance and constructive suggestions during the planning and development of this research work She provided me with knowledge that I needed to choose the right direction, methodology, and successfully complete my desertation In addition, I would like to thank my friends from Vpbank for their help They supported me greatly, helped me piloting test, and gave me feedback before I widely published my questionnaire Thanks these feedback, I conducted my survey smoothly and effectively Finally, I would like to thank my parents and my friends as well for their support and encouragement throughout my study Author Hoang Anh DECLARATION I declare that this dissertation entiled “The customer satisfaction of electronic banking services of Vietnam Prosperity Joint Stock Commercial bank (Vpbank)” is the result of my original research work The interpretations put forth are based on my reading and inderstanding of the orginal texts, and they are not published anywhere The other books, articles, and websites, which I have made use of are clearly referenced in the paper For the present thesis, which I am submitting to the Banking Academy of Vietnam, has not been submitted to this or any other universities before Research student Hoang Anh TABLE OF CONTENTS LIST OF TABLES Table 3.1 Table 3.2 Questionnaire structure Scale of Mean Table 4.1 Table 4.2 Result of Cronbach’s Alpha test for the factor User Interface Customer satisfaction with User Interface factor of Vpbank’s ebanking services Result of Cronbach’s Alpha test for the factor Service Fee Table 4.3 Table 4.4 Table 4.5 Table 4.6 Table 4.7 Table 4.8 Table 4.9 Table 4.10 Table 4.11 Table 4.12 Table 4.13 Table 4.14 Table 4.15 Table 4.16 Table 4.17 Table 4.18 Table 4.19 Table 4.20 Table 4.21 Table 4.22 Customer satisfaction with Service Fee factor of Vpbank’s e-banking services Result of Cronbach’s Alpha test for the factor Responiveness Customer satisfaction with Responsiveness factor of Vpbank’s e-banking services Result of Cronbach’s Alpha test for the factor Reliability Customer satisfaction with Reliability factor of Vpbank’s e-banking services Result of Cronbach’s Alpha test for the factor Empathy Customer satisfaction with Empathy factor of Vpbank’s e-banking services Result of Cronbach’s Alpha test for the factor Assurance Customer satisfaction with Assurance factor of Vpbank’s e-banking services Customer satisfaction with Assurance factor of Vpbank’s e-banking services General customer satisfaction with Vpbank’s e-banking services Summary Item Statistics of the customer satisfaction with factors Gender of the respondents Age of the respondents Time using of the respondents Occupation of the respondents ANOVA Verification for difference of gender in customer satisfaction with Vpbank’s e-banking services ANOVA Verification for difference of time using in customer satisfaction with Vpbank’s e-banking services ANOVA Verification for difference of age in customer satisfaction with Vpbank’s e-banking services LIST OF FIGURES Figure 2.1 Figure 2.2 Figure 2.3 Figure 2.4 Figure 2.5 Figure 2.7 Figure 3.1 Customer perception of quality and customer satisfation The Swedish Customer Satisfaction Marometer American Customer Satisfaction Index (ACSI) Gap model The model of ServQual Model of the customer satisfaction of Vpbank e-banking services in the study Research paradigm Digital banking users and online transactions (users, %) Figure 3.2 Data gathering procedure Figure 2.6 LIST OF ABBREVIATIONS Vpbank E-banking ATM BCBS SCSB ACSI Vietnam Prosperity Joint Stock Commercial bank Electronic banking Automated Teller Machine Basel Committee on Banking Supervision Swedish Customer Satisfaction Barometer American Customer Satisfaction Index LIST OF APPENDIX Appendix Appendix Appendix Questionnaire of the customer satisfaction of electronic banking services at Vietnam Prosperity Joint Stock commercial bank Vpbank organization chart Detailed Summary Item Statistics of the customer satisfaction with Vpbank’s e-banking services ABSTRACT The title of the thesis: The customer satisfaction of electronic banking services of Vietnam Prosperity Joint Stock Commercial bank (Vpbank) Author: Hoang Anh, student of the Faculty of Foreign Languages, Banking Academy of Vietnam Advisor: Ms Can Thuy Lien, Dean of the Faculty of Foreign Languages, Banking Academy of Vietnam Key words: Electronic banking services, customer satisfaction, Vpbank, quality of service Abstract: The developnent of advanced technology has brought many benefits and created new demands associated with electronic products including electronic banking services The main aim of this disertation is to develop the quality of electronic banking services of Vpbank based on studying the customer satisfaction with these services There are objectives that this thesis will deal with The first thing that this study focuses on is factors affecting customer satisfaction of Electronic Banking services of Vpbank based on the model of Servqual inclusing User Interface, Service Fee, Responsiveness, Reliability, Empathy, And Assurance Secondly, the survey will test the effect of each factor on the satisfaction of customers and assess customer satisfaction with Electronic Banking services of Vpbank Moreover, whether there is a difference in customer satisfaction level according to factors such as gender, age, and time of service use will be evaluated carefully Finally, based on the statistics, recommendations to enhance the customer satisfaction as well as the quality of e-banking services of Vpbank will be made The disertation is structured in five main chapters: (1) Introduction, refering to objectives, scope and delimitation of the research; (2) Literature Review, introducing the background knowledge and models commonly used when assessing the customer satisfaction with services; (3) Methodology, presenting research design; (4) Results and Discussion; (5) Conclusion and Recommendations, discussing the conclusion and giving recommendations to better Vpbank’s ebanking services CHAPTER I: INTRODUCTION 1.1 Introduction Today, the Internet plays an important role in every aspect of life, as exemplified by online entertainment, online shopping, and the most recent technological improvement is the evolution of electronic banking which has a major impact on the financial market In order to meet the banking requirements quickly and conveniently, the development of electronic banking services is viewed as an inevitable trend In Vietnam, commercial banks are also constantly innovating and applying technological achievements in banking business to bring the best utilities to customers and maintain the bank's development Electronic banking is changing the banking industry, and also having many major effects on banking relationships According to Thulani et.al, 2009, “Internet banking refers to systems that enable bank customers to get access to their accounts and general information on bank products and services through the use of bank’s website, without the intervention or inconvenience of sending letters, faxes, original signatures and telephone confirmations” Banking is now no longer one that has to approach the branches in person to deposit, withdraw cash or request a statement of accounts Thanks to the appearance of e-banking system, any request or transaction is processed online at any time and in anywhere through Internet, telephone or other electronic delivery As a result, banks have reaped various advantages, such as, saving time and reducing cost per transaction, enhancing customer service, etc In the current competitive environment, customers are the decisive factor for the bank's existence Therefore, banks are constantly aiming at how to bring customers the highest satisfaction when using the bank's electronic banking services From these following analysis, the thesis of “The customer satisfaction of electronic banking at Vietnam Prosperity Joint Stock commercial bank” was chosen 1.2 Background of the study Vietnam Prosperity Joint Stock Commercial Bank (Vpbank) was established on August 12, 1993 After nearly 25 years of operation, VP Bank has developed its 10 ... Statistics of the customer satisfaction with Vpbank’s e -banking services ABSTRACT The title of the thesis: The customer satisfaction of electronic banking services of Vietnam Prosperity Joint Stock Commercial. .. analysis, the thesis of The customer satisfaction of electronic banking at Vietnam Prosperity Joint Stock commercial bank was chosen 1.2 Background of the study Vietnam Prosperity Joint Stock Commercial. .. with electronic products including electronic banking services The main aim of this disertation is to develop the quality of electronic banking services of Vpbank based on studying the customer satisfaction