Abstract
The study sought to investigate the perceptions of electronic-banking services by clients in the Limpopo Province of South Africa. In this study, bank managers and clients were used as the research subjects. Questionnaires were used as research instruments. The study showed that while electronic-banking has been launched by 90% of South African banks, it showed that customer satisfaction and its relative importance may significantly differ from one e-banking service provider to the other in the same context. Similarly, it has particularly provided insight into the effect of e-banking services on overall user satisfaction. It provides evidence that the provision of superior customer service and the giving of preferential rates for online services are two most important factors that could influence user satisfaction with e-banking services in South Africa. The study recommends that more banks need to ensure that their e-banking services meet and exceed customer expectations to avoid them switching to other banks seeking utmost satisfaction. This could be done through improving services provided. Finally, it is also recommended that future research could use a different methodology and focus on extending the study across many similar banks in different countries and in different service contexts. DOI: 10.5901/mjss.2014.v5n10p253
Highlights
Changing consumer needs, innovative financial products, changes in the industry structure and a mix of delivery channels are reshaping the banking industry in South Africa
For the purpose of clarity in describing customer satisfaction for each dimension item within and between the cases, dissatisfaction would be described by adding ratings for much worse than expected (1) and worse than expected (2), while satisfaction would be described by adding ratings for equal to (3), better than (4) and much better than expected (5)
The ability of the internet portal in helping customers to complete a transaction quickly (WD4) 22.10% of customers were dissatisfied while 77.90% were satisfied, generally the customers are more satisfied with this dimension item than dissatisfied
Summary
Innovative financial products, changes in the industry structure and a mix of delivery channels are reshaping the banking industry in South Africa. One of the effects of this new freedom is a growing convergence in the financial services industry, whereby traditionally specialized organizations are offering financial services that cross all sections of the population. This means that traditional banks are fast losing their key differentiating characteristics. A great challenge, is to refocus their attention on their customers and gain a financial services perspective. This has forced banks to look at their internal procedures in order to cope with the fast-evolving needs and expectations of their customers. The aim of this research was to determine the perceptions of electronic-banking services by clients in selected areas of Polokwane, Makhado, Musina, Thohoyandou, and Bochum in the Limpopo Province of South Africa
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