Impact of Banking Services, Digital Transformation, and Covid-19 Pandemic on Customer Satisfaction and Loyalty in EEC, Thailand
关键词:
Covid-19 Pandemic, Service Quality, Convenience, Price Fairness, Digital Transformation摘要
The current Thai banking industry is experiencing rapid changes with technological advancement, shifting to online transactions, downsizing branch offices and employees, and improving operation efficiency. The coronavirus prevailing from 2020 to 2022 has changed our lifestyles and made bank customers reduce transactions through branch counters and increase online transactions. A questionnaire survey of 512 people in the Eastern Economic Corridor (EEC) revealed that convenience had the largest impact on customer satisfaction and loyalty, followed by service quality, price and fairness, and digital transformation. At the same time, in-depth interviews were conducted with 10 bank employees and 10 bank customers. This paper will focus on qualitative research. The interviewees confirmed that convenience is the more important factor than service quality, price and fairness and digital transformation and supports the results of the quantitative study. 10 bank customers think online banking is quite convenient because the service charge is free, while some bank customers thought that the banks could offer more attractive interest rates and service fees. The qualitative research confirms that the Covid-19 pandemic accelerated digital transformation and made customers use online banking more frequently but visit branches less frequently. In the future, it is anticipated that Thai people will use more online banking and it will lead to a reduction in the number of bank employees and branch offices, improvement of operation efficiency, and the entry of high-tech companies into the financial industry.
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