The Impact of digital finance on the bank customer satisfaction in Zimbabwe. Case of CBZ Bank.

Author

Gwatipedza, Ethel.

Title

The Impact of digital finance on the bank customer satisfaction in Zimbabwe. Case of CBZ Bank.

Abstract

Digital finance is crucial to customers as it boosts security for their cash, it’s more convenient compared to keeping money at home and traveling with the money. However, the provision of digital finance involves the participation of different players such as banks/financial institutions, mobile network operators, financial technology providers, regulators, agents, chains of retailers and clients. Digital finance mechanisms also need improvement of infrastructures to make the services user-friendly, secure, and cost effective. This research study looked at the impact of digital finance on bank customer satisfaction in Zimbabwe and was carried out at CBZ Bank Bindura. The study objectives were to examine the impact of digital finance on bank customer satisfaction, to determine the various forms of digital finance, the factors that influence adoption of digital finance, to evaluate the extent of digital finance usage in Zimbabwe and the benefits of digital finance over traditional banking. Explanatory research design was employed. A simple random sampling technique was utilized in a 218-sample size selection from CBZ bank customers. Data was collected using questionnaires. SPSS version 21.0 was used to analyse the primary data and it was presented in form of figures and tables. Both descriptive statistics and regression analysis was performed to determine the impact of digital finance on the bank customer satisfaction at CBZ bank. For this study, a positive correlation between customer satisfaction and digital finance (usage, perceived benefits and awareness is established. The study therefore recommends that banks employ robust reliable systems that reduce failed transaction or errors, invest in cyber security systems to prevent frauduldigital finance on the bank customer satisfaction in Zimbabwe – Case of CBZ Bank.ent activities and continuous supervision of customer preferences in order to satisfy and retain customers.

Date

June 2024

Publisher

BUSE

Keywords

Digital finance,

Bank customer satisfaction

CBZ Bank, Zimbabwe

Supervisor

NIL