Effect of Financial Technology on Customer Satisfaction in Selected Microfinance Banks in fCT, Abuja.

Abstract

This study examines the effects of financial technology on customer satisfaction in selected microfinance banks in FCT, Abuja. In order to ascertain if financial technology impact customer satisfaction, three hypotheses were formulated to achieve the objectives, the study adopted a descriptive survey research design and primary data were collected from employees through the use of a questionnaire. The questionnaire was designed using a 5-point Likert-scale administered to 217 respondents. The population of 298 employees and 323 was drawn from five selected Microfinance Banks in FCT, Abuja. The data gathered were analyzed through simple percentages. Regression analysis was used via SPSS version 27,0 to test the formulated hypotheses and see the combined impact of all independent variables on the dependent variables. In conclusion, the study highlights the significant impact of internet and mobile banking on customer satisfaction of Microfinance Banks in FCT Abuja. It was found that internet banking does have significant effect on customer satisfaction. it recommended that Microfinance Banks should invest in advanced internet technologies to further improve customer satisfaction. By focusing on user-friendly interfaces and reliable service delivery, banks can better meet customers' evolving needs and preferences.