Digital Transformation and Customer Satisfaction: Lessons from Standard Chartered Bank of Zimbabwe

Abstract

The aim of this study was to unveil the relationship between digital transformation and customer satisfaction with Standard Chartered Bank Zimbabwe as the case study. The study employed qualitative research design, using semi structured interviews with customers, staff, and management of Standard Chartered Bank of Zimbabwe. To unearth the key themes and trends between digital transformation and customer satisfaction thematic analysis was applied. The findings clearly indicated that Standard Chartered Bank of Zimbabwe implemented well their digital transformation journey to the satisfaction of their customers and employees. The research found that simplified digital transformation that makes the transacting customers get convenience has far reaching implications such as customer loyalty, retention, lifetime value while transacting more. Employee engagement, retention and brand reputation are increased as employees move away from routine processes daily. The research concluded that for companies that need to increase their customer satisfaction digital transformation should be one of the key pillars to company`s broad strategy and continuous improvement should be the order of the day. The study recommendations set the tone for other banks that would want to initiate digital transformation while contributing to the body of knowledge on digital transformation and customer satisfaction.