An Analysis of Customer Satisfaction and Service Innovation in Access Bank Plc, Bauchi State
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Background of the Study
Customer satisfaction is a critical factor in the banking sector, influencing customer retention, brand loyalty, and overall financial performance. Service innovation—introducing new or improved services, processes, and technologies—has become a key driver of customer satisfaction in modern banking (Ojo & Hassan, 2024). In Nigeria, banks increasingly leverage technology-driven service innovations, such as mobile banking, artificial intelligence (AI)-powered customer support, and digital payment solutions, to enhance customer experience and satisfaction (Adegbite & Usman, 2023).
Access Bank Plc, one of Nigeria’s leading financial institutions, operates in a highly competitive environment where customer satisfaction is essential for sustaining business growth. With increasing customer expectations and technological advancements, banks must continuously improve their service offerings to meet evolving demands (Okafor & Nwachukwu, 2023). However, despite these innovations, customer complaints about service delays, system failures, and poor customer support persist in many banks, including Access Bank.
This study aims to examine the relationship between service innovation and customer satisfaction in Access Bank Plc, Bauchi State. By assessing the effectiveness of service innovations and their impact on customer experience, this study will provide insights into strategies for enhancing banking services.
Statement of the Problem
Customer satisfaction remains a challenge for banks in Nigeria, as customers often experience delays, inefficient service delivery, and system downtimes. While Access Bank has introduced various service innovations such as digital banking and AI-driven customer support, it is unclear whether these innovations significantly improve customer satisfaction (Obi & Salami, 2024).
Previous studies have primarily focused on technological adoption in banking but have not adequately explored the direct impact of service innovation on customer satisfaction, particularly in regional bank branches such as those in Bauchi State. Therefore, this study seeks to fill this gap by investigating how service innovation affects customer satisfaction in Access Bank Plc, Bauchi State.
Objectives of the Study
1. To examine the impact of service innovation on customer satisfaction in Access Bank Plc, Bauchi State.
2. To assess customer perceptions of service quality in relation to innovation.
3. To identify challenges affecting the effectiveness of service innovation.
Research Questions
1. How does service innovation impact customer satisfaction in Access Bank Plc, Bauchi State?
2. What are customers’ perceptions of service quality in relation to innovation?
3. What challenges affect the effectiveness of service innovation in banking?
Research Hypotheses
1. Service innovation has a significant impact on customer satisfaction in Access Bank Plc.
2. Positive customer perceptions of service quality lead to higher satisfaction levels.
3. Challenges in implementing service innovations negatively affect customer satisfaction.
Scope and Limitations of the Study
This study focuses on Access Bank Plc in Bauchi State and analyzes the impact of service innovation on customer satisfaction. A limitation is the concentration on a single bank branch, which may not fully represent the experiences of customers in other branches.
Definitions of Terms
• Customer Satisfaction: A measure of how banking services meet or exceed customer expectations.
• Service Innovation: The introduction of new or improved banking services to enhance customer experience.
• Digital Banking: Online and mobile banking services that allow customers to conduct transactions remotely.
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