The effect of mobile banking system enhancements on expanding digital engagement in banking: a case study of Ecobank Nigeria
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Background of the Study
Mobile banking systems have become the primary interface for financial services in Nigeria, offering customers convenience and accessibility. Ecobank Nigeria has recently enhanced its mobile banking platform by improving the user interface, speeding up transaction processing, and integrating advanced security features such as biometric authentication and two-factor verification. These enhancements are aimed at increasing digital engagement and encouraging more customers to transition from traditional banking methods to digital channels (Nnamdi, 2023; Udo, 2023). The improved mobile platform offers a seamless and intuitive user experience that supports a wide range of banking services, from basic transactions to more complex financial operations.
By leveraging real-time data analytics, the enhanced system provides personalized service and interactive features that drive customer engagement. The integration of digital tools with the mobile platform not only improves operational efficiency but also builds customer trust in digital services. As a result, Ecobank Nigeria is better positioned to reach a broader demographic, including previously underbanked populations. This strategic initiative is central to the bank’s goal of expanding its digital footprint and fostering financial inclusion in a rapidly evolving market. The study examines the impact of these mobile banking enhancements on digital engagement and investigates the challenges associated with system adoption and user satisfaction.
Statement of the Problem
Despite significant enhancements to its mobile banking system, Ecobank Nigeria faces challenges in fully expanding digital engagement. One key issue is the variability in digital literacy among customers, which means that while younger, tech-savvy users quickly adopt the new platform, older or less digitally proficient customers may struggle to navigate the interface (Udo, 2023). Additionally, inconsistent performance across various mobile devices due to differences in hardware and operating systems can lead to a fragmented user experience. Integration challenges with legacy systems may also result in occasional technical glitches that undermine customer confidence in digital banking. Moreover, rapid technological changes require continuous updates and improvements, straining resources and sometimes causing service disruptions. These challenges hinder the bank’s ability to maximize the potential benefits of its mobile banking enhancements, limiting overall digital engagement and customer acquisition.
Objectives of the Study
1. To assess the impact of mobile banking system enhancements on digital engagement at Ecobank Nigeria.
2. To identify user and technical challenges affecting the enhanced mobile platform.
3. To recommend strategies for optimizing the mobile banking experience to boost digital adoption.
Research Questions
1. How do mobile banking system enhancements affect digital engagement at Ecobank Nigeria?
2. What challenges do users face when interacting with the enhanced mobile platform?
3. How can the mobile banking system be optimized to increase digital adoption?
Research Hypotheses
1. H₀: Mobile banking system enhancements do not significantly increase digital engagement at Ecobank Nigeria.
2. H₀: User and technical challenges do not significantly affect the performance of the enhanced mobile platform.
3. H₀: Optimization strategies do not significantly improve digital banking adoption.
Scope and Limitations of the Study
This study focuses on Ecobank Nigeria’s mobile banking platform, using user engagement data, customer surveys, and technical performance metrics. Limitations include variations in device compatibility and differences in user digital literacy.
Definitions of Terms
• Mobile Banking System: A digital platform that enables customers to perform banking transactions on mobile devices.
• Digital Engagement: The extent and depth of customer interaction with digital banking services.
• User Experience: The overall satisfaction and ease with which users interact with a digital platform.
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