The Post Covid-19 Consumer Buying Behaviour in The Nigerian Banking Industry: Issues, Challenges and Benefits (original) (raw)
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There is much empirical evidence that Ghanaian banks have adopted electronic banking. By using an automated teller machine, the internet, a phone call, or a mobile device, customers of a bank can request information and conduct majority of banking transactions without having to physically visit the bank branch. Electronic banking, entails all kinds of bank transactions carried out through an electronic medium. This study evaluates how COVID-19 has affected bank clients' adoption of electronic banking in Ghana. Using explanatory research approach and purposive sampling technique, we applied SPSS tool on data collected from four-hundred (400) respondents of a targeted customer population to meet the study's goal. Self-administered close-ended questionnaires were used to collect primary data from the respondents.
Behavioural evolution of consumers of banking services in the COVID-19 pandemic situation
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Managing customer relations is one of the main contemporary challenges facing banks, especially in terms of new social changes and major changes in human behaviour, generated by the COVID-19 crisis. The currently drifting economic climate affects all of the existing and potential customers and consumer behaviour, being much more demanding on the products and services purchased, their particularities, the conditions proposed by banks, prices and the bankcustomer relationship. The new segmentation generated by the pandemic puts additional pressure on banks, which have a difficult task: to better understand these new behaviours and to meet consumer requirements with relevant products and convenient services. Whatever the options, banks must be receptive to the current needs of consumers of financial products and services and to the behaviour they must adopt in order to remain relevant on the market. The general objective of this study is to provide a practical perspective on the impact...
ELECTRONIC BANKING SERVICE AND COVID-19 IN NIGERIA: IMPACT OF
Nigerian Education Digest (NED), 2022
The banking sector is the hub of the global economic growth and development. However, the disastrous effects of the pandemic COVID-19 with the associated regulatory social distancing have important bearing on the socioeconomic lives of the global community. The assessment of the survival of the banking industries in the delivery capacity to customers during the pandemic is the focus of the paper. Primary and secondary sources of data was adopted using content analysis questionnaire. 50 bank customers were randomly selected from five Commercial banks in Ilorin and data was collected through structured questionnaire. The study utilized regression method of analysis through STATA statistical package. The correlation coefficient R 2 for each of the e-banking channels during the period showed that there are variations which was explained before COVID-19 than during the period. Due to the world crisis of COVID-19 pandemic, there was growth of inflation, increased unemployment and decline in foreign investment. The study recommended that there should be a strict compliance with social distancing during the bank transactions to reduce the spread and avoids contacting the pandemic.
Banking system are plays vital role in all fields including customers life styles, in addition to this, the COVID pandemic changed the behaviour of customers toward the banking sectors. In this light, it is necessary to understand impact of pandemic towards customers. The study aims at analysing the impact of covid-19 on customer in retail banking. The work tries to explain the opinion and perceptions of customers as regard the impact of online banking and other banking transaction during pandemic days. The analysis was carried out using the data collected through structured questionnaire for customers in Dakshina Kannada and Chickmagalore District in Karnataka. Data were recorded in SPSS. This study reveals that customers are shifting from physical transaction to online transactions after covid-19, some of the respondents faced financial problems during Covid pandemic &they intended to have loans during pandemic and Covid didn't affected much for those having high level of income
IAEME PUBLICATION, 2021
Introduction: Banks play a vital role for economic growth since their evolution. A bank is a financial institution which deals with monetary deposits, lending, and credits to the customers. In present landscape, banks and businesses are interconnected with each other. The increase in innovation in technologies and development of new solutions encourages banks to transform from traditional bank to e-bank. Rising number of banking institutes are moving toward digital platforms to deliver their services online because of increasing usage of smart phones and internet penetration across the world. Hence, rise in adoption of online and mobile banking platforms are positively impacting the adoption of Digital Banking Services (DBS) across the globe. During covid-19 outbreak the usage of digital banking services increased drastically in urban and rural area of selected region of Maharashtra State. Methodology: In the present study efforts were made to understand the growth of digital banking services and related customer experience by means of collecting firsthand information from customers. The customer experience is studied on the basis of selected parameters like: trust on digital banking services (DBS), Preference towards nationalized, cooperative and private banks, widely used transaction type, Popular Digital wallet platform for online payment, secured banking transaction, convenience of use, perceived benefits and disadvantages of digital banking services. On the other hand systematic approach to review the literature is adopted to study related trends. Findings: Though there is increased usage of DBS during covid-19 outbreak and people have higher preference to use DBS still awareness, security concern, convenience of use and network connectivity remains major issues needs to be addressed. Superior customer experience means clarity and transparency, support for digital tools with which many customers are still unfamiliar in distress. Communication and quickly adoption of technology and situation plays crucial role. Implications: This study is useful for all the banks as an input to maximize their customer experience and strengthen their customer base at large. Banks would do well when they expand their digital infrastructure encompassing stability, security, availability and reliability of their digital services.
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Collaboration between banks, fintech, and government banks is needed to overcome COVID-19. This paper aims to investigate the role of customer behavior and perception in financial crisis strategy among banks, fintech, and governments facing the unspread of COVID-19. This study used a quantitative approach with an online questionnaire as an instrument, with 178 samples retrieved. Data were analyzed by SPSS Program. The finding in this study is that Customer behavior and perception of Financial crisis strategy among banks, fintech do not influence the not spreading of COVID-19. However, the Government management crisis influenced the not spreading of COVID-19 in customer perception. The new thing in this study is the measurement of customer perception in financial crisis strategy, which applies to three institutions, i.e. bank, fintech, and government. This research concept is not done in Indonesia yet. This research suggests government push digitalization in finance to face the unspr...
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The global outbreak and spread of coronavirus disease (COVID-19) have been referred to as the most dangerous pandemic since World War II. The speed of the spread and the severity of the damage caused by the virus has traumatized the global economy affecting both banks and customers. With the lockdown imposed by the government to restrict the movement of people and activities caused by the increased level of coronavirus cases in Nigeria, the fate of the financial users of about 40 million became unknown. Given the analysis of data on trends of COVID-19 infections from the World Health Organization and Nigerian Centres for Disease Control and Prevention, the study assessed the current situation. It indicated some specific concepts that the banking sector should consider and address while taking the necessary measures to cope with the new change. The study used an ex-post-facto research design, enabling the researcher to measure the effect or relationship between the dependent variable...
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