Abstract
Automated Teller Machine (ATM) banking is the second popular access channel to banking services behind branch banking in Malawi which offers competitive advantage in the homogenous market of retail banking products and services. It is important that banks achieve service quality and customer satisfaction to remain competitive through ATMs. The results are from 353 ATM card users where over half are satisfied with ATM services from their respective banks. All the ATM service attributes within the five service quality dimensions are important to ATM service users but performance is perceived good in ATM technology related attributes and poor in employee and management functionality related attributes. The results have further found that all service quality dimensions significantly correlate with customers satisfaction with ATM services and that reliability is the most important dimension followed by responsiveness, empathy, assurance and tangibles are the least important dimension agreeing with previous studies by Berry et al., Parasuraman et al. and Zeithmal et al. However, not all service quality attributes rated important by users contributed to their satisfaction. Therefore, the results designate that for banks to remain competitive through ATM banking efforts should be exerted in providing responsive ATM services. Further investment in newer ATM technologies may have marginal returns in creating competitive advantage since all banks are installing newer ATM technologies that enhance functionality and reliability of ATMs but differences are in the provision of responsive services that augment the ATM services provision. Keywords: Customers’ satisfaction, ATMs, service quality.
Highlights
Customer satisfaction is one of the frequently researched areas in marketing, satisfaction literature has not yet explicitly or implicitly established a generally accepted definition of satisfaction
95.5% of the respondents in the study have been with their banks for over 2 years and 87.2% use Automated Teller Machine (ATM) services at least every week. 353 responses were generated from a study sample of 500 ATM card users representing a
This study has found that over half of the respondents are satisfied with ATM services from their respective banks in Malawi
Summary
Customer satisfaction is one of the frequently researched areas in marketing, satisfaction literature has not yet explicitly or implicitly established a generally accepted definition of satisfaction. The common elements in the definitions are that satisfaction is a response, emotional or cognitive, pertaining to a particular focus either expectations about a product or a consumption experience which occurs at a particular time, after the consumption, or choice or based on accumulated experience. This concept of customer satisfaction has become important in firms’ operations and marketing because empirical researches show that it is an important.
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