Impact of Technology on Customer Satisfaction in Banking Sector

Abstract

In a world of ever-rising competition among organizations, banks, markets and institutes managers are constantly searching for ways in order to provide utmost customer satisfaction by continuously changing their strategies in order to improve their services and trying to make customers feel important and special. The banking sector is expanding its horizon day by day in Pakistan with a lot of scope. In this expansion it is necessary for banks to realize the importance of customer satisfaction. The most commonly method adopted is to rename the same service or just providing some extra benefits to the disgruntled customer. The managers and market/ research analysts build up strategy in accordance to what the market is offering to customers in order to satisfy their needs.

In this regard the technological advancements in the banking sector play a vital role with the arrival of online banking providing customers many services at the touch of button. Customer Satisfaction differentiates from organization to organization – some take good care of their consumers compared to others who hardly give a notice or value their clients. This thesis is based on present customer satisfaction strategies, designed framework and literature relevant to the industry and research, as well as an customers and managers survey in order to link real life information to conceptual knowledge and strategies. This report is concluded with elaborated analysis of the results and findings of the research and relevant recommendations.