1.1 Introduction
Mobile banking is a typical application in the mobile financial field. It refers to the integration of electronic money and mobile communication services through multi-industry and multiplatform cooperation between mobile telecom carriers and banking institutions (Sun et al., 2017). The mobile banking technology is to address the problems related to bricks and mortar banks, thus queuing, and travelling over a long distance in most cases to carry out simple banking service such as checking of balance, withdrawal and transfers of money. Payment systems and mobile devices and services are crucial, and these are defining the way we live in the twenty-first century in terms of banking. Therefore, mobile payments offer a universal payment solution, thus delivering distinctive value to both consumers and merchants (Mallat, 2007).
As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitations of the Study and Definition of technical terms.
1.2 Background of Study
The Advent of mobile banking constitutes a recent development in electronic banking. It facilitate the access of customer account balance, transfer of funds, SMS services , payment transaction and other businesses services through the use of mobile phones (Saleem & Rashid, 2011). The advantages attributed to the use of mobile phones include convenience derived in conducting transaction with ease anywhere, anytime. It also provides the needed security in conducting banking transaction. According to the Federal Reserve survey mobile banking is the process of using a mobile phone to conduct banking transaction such as having access to your bank account, credit card account, or other financial account.
The service can be accessed from the bank’s web, using an application downloaded to the mobile phone”, the web browser on customers mobile phone or by text messaging. The services offered include cash depositing, cash withdrawals and transfers, balance inquiry and statement of account (Jepleting et al., 2013). Mobile banking helps the bank to send messages across to all of its clients with ease and maintain good customer relationship and generate data from customers.
Therefore, in Fidelity Bank Main Branch Maiduguri where the research was carried out, the activities that was conducted is to appraise the Roles of Mobile Banking in Enhancing Customer Satisfaction in the 21st Century using Fidelity Bank Main Branch Maiduguri as a case study.
1.3 Statement of Problems
The changing pace of doing business and the advent of the application of technology has brought significant changes in the banking operations. The traditional banking system which was characterize with long queues in the banking halls and the application of manual processes, huge customer complaints and loss of time has long being replaced with new technologies such as the mobile banking services. This technology has brought relieves to bank customers as much of the traditional functions of the bank can easily be accessed from the customer s mobile phone. It facilitate the access of customer account balance, transfer of funds, SMS services, payment transaction and other businesses services through the use of mobile phones (Saleem & Rashid, 2011).
The advantages attributed to the use of mobile phones include convenience derived in conducting transaction with ease anywhere, anytime. It also provides the needed security in conducting banking transaction. According to the Federal Reserve survey mobile banking is the process of using a mobile phone to conduct banking transaction such as having access to your bank account, credit card account, or other financial account. However, there exist some challenges such as the availability of internet services, lack of personal and face-face interaction, lack of secure environment, Lack of confidentiality. Mobile banking customers’ level of trust is dynamic rather than static and the building of customers trust not easy. The problem confronting the study is to appraise the roles of Mobile Banking in enhancing customer satisfaction in the 21st century using Fidelity Bank Main Branch Maiduguri as a case study.
1.4 Aim and Objectives of Study
The aim of the study is to appraise the Roles of Mobile Banking in Enhancing Customer Satisfaction in the 21st Century using Fidelity Bank Main Branch Maiduguri as a case study. In achieving this aim, the following specific objectives were laid out as follows:
- To determine the relevance of mobile Banking.
- To determine the level customer satisfaction in mobile Banking in the 21st century.
- To determine the roles of Mobile Banking in enhancing customer satisfaction in the 21st century.
- To determine the roles of Mobile Banking in enhancing customer satisfaction in fidelity Bank main branch Maiduguri.
1.5 Research Questions
The study came up with research questions so as to be able to ascertain the above stated objectives. The specific research questions for the study are stated below as follows:
- What is the relevance of mobile Banking?
- What is the level of customer satisfaction in mobile Banking in the 21st century?
- What are the roles of Mobile Banking in enhancing customer satisfaction in the 21st century?
- What are the roles of Mobile Banking in enhancing customer satisfaction in fidelity Bank main branch Maiduguri?
1.6 Research Hypothesis
In order to pursue the objective of this study, the following generalized statements have been designed to guide and aids in obtaining the result for the experiment to be conducted. For this work, the null hypothesis will be represented with H0 while the alternative hypothesis will be represented with hypothesis H1.
Hypothesis One
- H0: The level of customer satisfaction in mobile Banking in fidelity Bank main branch Maiduguri is low
- H1: The level of customer satisfaction in mobile Banking in fidelity Bank main branch Maiduguri is high
Hypothesis Two
- H0: The roles of Mobile Banking in enhancing customer satisfaction in Fidelity Bank main branch Maiduguri is low
- H1: The roles of Mobile Banking in enhancing customer satisfaction in Fidelity Bank main branch Maiduguri is high
1.7 Significance of Study
The study shall develop a framework upon which the stakeholders in the financial sector shall improve upon in the rendering of mobile Banking services. This study will be of immense benefit to other researchers who intend to know more on this study and can also be used by non-researchers to build more on their research work. This study contributes to knowledge and could serve as a guide for other study.
1.8 Scope of Study
The study focuses on the Roles of Mobile Banking in Enhancing Customer Satisfaction in the 21st Century using Fidelity Bank Main Branch Maiduguri as a case study.
1.9 Limitations of the Study
During the course of this study, many things militated against its completion, some of which are:
- Time Constraint: The time frame given to accomplish this project was very short due to school academic calendar and it was carried out under pressure which made the researcher not to implement some necessary features.
- Research material: availability of research material is a major setback to the scope of the study.
- Frequent power failure: This made the researcher append more money on fuel to ensure sustainable power.
- Financial Constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
1.10 Definition of Terms
Mobile Banking Defined: Mobile banking constitutes a recent development in electronic banking. It facilitate the access of customer account balance, transfer of funds, SMS services , payment transaction and other businesses services through the use of mobile phones.
Customer Satisfaction Defined: Meeting or exceeding customer expectations
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