The impact of mobile banking platform improvements on customer engagement in finance: a case study of Ecobank Nigeria
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Background of the Study
Mobile banking platforms have become the cornerstone of modern financial services, offering customers convenience and instant access to banking operations. Ecobank Nigeria has invested in continuous improvements to its mobile banking platform to enhance user experience and drive customer engagement. The bank has introduced features such as intuitive user interfaces, real-time notifications, and seamless transaction processing, which collectively aim to improve customer satisfaction and boost digital adoption (Okoro, 2023). The upgraded platform leverages data analytics to personalize services and deliver targeted offers, thereby creating a more engaging digital banking experience.
These improvements have not only enhanced the operational efficiency of digital transactions but have also played a significant role in customer retention by fostering a sense of convenience and security. Ecobank’s strategy emphasizes regular software updates, enhanced security protocols, and user feedback integration to ensure that the platform remains responsive to customer needs (Adebayo, 2024). However, despite these advancements, challenges such as network connectivity issues and varying levels of digital literacy continue to affect customer engagement, particularly in rural areas. This study evaluates the impact of mobile banking platform improvements on customer engagement at Ecobank Nigeria, analyzing the benefits achieved and the obstacles encountered in the digital transformation journey.
Statement of the Problem
Although Ecobank Nigeria has made significant strides in enhancing its mobile banking platform, customer engagement levels are not uniformly high. One major issue is the inconsistency in network connectivity across different regions, which can cause service interruptions and reduce the overall user experience (Chukwu, 2023). Additionally, a portion of the customer base, especially in rural areas, may lack the digital literacy required to fully utilize the advanced features of the platform. Technical glitches and periodic system downtimes further contribute to a less than optimal customer experience, thereby hindering digital adoption. These challenges undermine the bank’s efforts to maximize customer engagement and expand its digital footprint, necessitating a thorough investigation into the factors affecting mobile banking performance.
Objectives of the Study
- To assess the impact of mobile banking platform improvements on customer engagement at Ecobank Nigeria.
- To identify technological and user-related challenges affecting mobile banking usage.
- To propose strategies for enhancing customer engagement and digital adoption.
Research Questions
- How do mobile banking platform improvements influence customer engagement at Ecobank Nigeria?
- What challenges limit the effective use of the mobile banking platform?
- Which strategies can increase digital adoption and customer satisfaction?
Research Hypotheses
- H₁: Mobile banking platform improvements significantly enhance customer engagement.
- H₂: Network connectivity issues negatively impact mobile banking usage.
- H₃: Enhanced digital literacy programs improve customer adoption and engagement.
Scope and Limitations of the Study
This study examines Ecobank Nigeria’s mobile banking platform performance over the past three years, using customer engagement metrics, survey data, and technical performance reports. Limitations include regional disparities in connectivity and varying user digital literacy levels.
Definitions of Terms
- Mobile Banking Platform Improvements: Upgrades and enhancements to the digital banking application aimed at improving functionality and user experience.
- Customer Engagement: The level of interaction and satisfaction that customers experience with digital banking services.
- Digital Adoption: The extent to which customers use and rely on digital banking platforms.
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