The perception of mobile banking applications on customer satisfaction : an evaluation of retail banks in Malta

Abstract

Objective: This study aims to evaluate consumer satisfaction with the mobile banking applications of retail banks in Malta, focussing on the distinguishing traits of their most satisfied and least satisfied users. It also seeks to suggest pragmatic methods for banks to mitigate customer dissatisfaction and the gap between customer expectations and bank strategy. Method: A mixed method approach employing both qualitative and quantitative techniques was utilised, encompassing the dissemination of questionnaires to mobile banking application users and interviews with bank personnel. The quantitative results were analysed for patterns and correlations, whereas the qualitative results offered an enhanced comprehension of the user experience. Results: The study identified the primary factors of customer satisfaction, including application usability, security protocols and customer support. The results indicated that highly satisfied customers valued the user-friendly and accessibility features, but less satisfied users expressed concerns regarding security and application navigation. The research advocates for the enhancement of usability and security in the development of mobile banking applications for retail banks in Malta. By actively listening to and considering their feedback and requests, banks would enhance customer satisfaction and loyalty. This research augments the understanding and use of consumer satisfaction in mobile banking, offering significant recommendations for banks seeking to improve their services in the context of growing digitisation.