Abstract
Since several commercial activities such as banking, shopping, transfers, and payments had been conducted online, many banks in Cambodia provided e-banking services to their customers to support these activities. Meanwhile, if the banks could provide such e-banking services to satisfy their customers’ needs, they could maintain their customers and profits. Thus, finding the main factors influencing customer satisfaction in the e-banking service industry is significant. Therefore, the objective of this paper is to investigate how customer satisfaction develops through examining the impacts of perceived risk (financial risk and performance risk) and perceived value on customer satisfaction in the e-banking. This study applied convenience sampling to get data from the respondents at convenient locations (near banks, markets, supermarkets, universities, and workplaces). 700 respondents who were currently using mobile banking or internet banking services at either commercial or retail banks in Cambodia were invited to fill in the questionnaires. In addition, the results of this study were generated through structural equation model (SEM) analysis based on 546 valid responses. The results revealed that perceived value was mainly influenced by performance risk, whereas financial risk did not significantly affect perceived value. Finally, perceived value and performance risk significantly influenced customer satisfaction, except financial risk. In addition, despite both perceived value and performance risk significantly influencing customer satisfaction, promoting customer satisfaction through increasing perceived value was far more effective than minimizing performance risk.
Highlights
IntroductionSince technological innovation is advancing in electronic channels, many businesses no longer face industrial, geographical, and regulatory barriers
The objective of this paper is to investigate how customer satisfaction develops through examining the impacts of perceived risk and perceived value on customer satisfaction in the e-banking
The results of this study were generated through structural equation model (SEM) analysis based on 546 valid responses
Summary
Since technological innovation is advancing in electronic channels, many businesses no longer face industrial, geographical, and regulatory barriers. The internet has become the new tool for interactions between customers and businesses (Firdous & Farooqi, 2017). Based on the current changes in market trends, e-banking services have been developed to become the new means for market interaction (Asad et al, 2016). Wong (2020) has reported that the percentage of Cambodians actively using the internet is around 90%. While the major commercial activities, such as shopping, banking, and payments, can be conducted online (Firdous & Farooqi, 2017), many e-banking services have been created to serve current market transactions in Cambodia (Wong, 2020; Yang et al, 2021). The banks have to maintain high customer satisfaction if they want those customers to continue using their e-banking services because customer satisfaction can positively influence an individual’s purchase decisions (AbdulMuhmin, 2010). Investigating the factors that can influence satisfaction is very important for the e-banking service industry
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