The Relationship Between Satisfaction, Trust and Loyalty in Electronic Banking

Nowadays, the increase of competition has made organizations constantly strive to increase their productivity and reduce their costs. The rapid growth of systems based on electronic technology led to a significant change in banking services. Information technology has made it possible for electronic channels to perform many banking services that were traditionally performed over the counter. Albanian banks are making efforts to provide high-quality products and services to satisfy their customers as well as to increase customers’ trust and loyalty to banks. The purpose of this study is based on the current state of e-banking in Albania to measure the impact that trust and loyalty have on the satisfaction of e-banking customers. The study is based on primary data collected by the administration of 400 questionnaires in Gjirokastra region. The data were analyzed using regression analysis and analysis of variance components, which resulted in both variables included in the model to be statistically significant, but among the above two factors the most important turned out to be trust, because according to the model if trust improves by one degree then satisfaction is expected to increase by 0.39 degrees. Albanian banks need to consider this effect of trust and loyalty on e-banking customer satisfaction, striving to increase them.

1. Shankar A., Jebarajakirthy C. The influence of e-banking service quality on customer loyalty: A moderated mediation approach. International Journal of Bank Marketing. 2019;37(5):1119–1142. DOI: 10.1108/IJBM‑03–2018–0063

2. Szopiński T.S. Factors affecting the adoption of online banking in Poland. Journal of Business Research. 2016;69(11):4763–4768. DOI: 10.1016/j.jbusres.2016.04.027

3. Ling G.M., Fern Y.S., Boon L.K., Huat T.S. Understanding customer satisfaction of Internet banking: A case study in Malacca. Procedia Economics and Finance. 2016;37:80–85. DOI: 10.1016/S2212–5671(16)30096-X

4. Jayasiri N.K., Weerathunga W.A.S.P. Popularity of e-banking in Sri Lanka. 2008. URL: http://archive.cmb.ac.lk:8080/research/bitstream/70130/5714/1/Popularity%20of%20e-banking-Jayasiri%20%26%20Weeratunga%202008.pdf

5. Nupur M.J. E-banking and customers’ satisfaction in Bangladesh: An analysis. International Review of Business Research Papers. 2010;6(4):145–156. URL: https://www.academia.edu/19784371/E-Banking_and_Customers_Satisfaction_in_Bangladesh_An_Analysis

6. Siddik M.N.A., Sun G., Kabiraj S., Shanmugan J., Yanjuan C. Impacts of e-banking on performance of banks in a developing economy: Empirical evidence from Bangladesh. Journal of Business Economics and Management. 2016;17(6):1066–1080. DOI: 10.3846/16111699.2015.1068219

7. Darwish A., Lakhtaria K.I. The impact of the new Web 2.0 technologies in communication, development, and revolutions of societies. Journal of Advances in Information Technology. 2011;2(4):204–216. DOI: 10.4304/jait.2.4.204–216

8. Shannak R.O. Key issues in e-banking strengths and weaknesses: The case of two Jordanian banks. European Scientific Journal. 2013;9(7):239–263. DOI: 10.19044/esj.2013.v9n7p%25p

9. Okechi O., Kepeghom O.M. Empirical evaluation of customers’ use of electronic banking systems in Nigeria. African Journal of Computing & ICT. 2013;6(1):7–20. URL: https://kipdf.com/empirical-evaluation-ofcustomers-use-of-electronic-banking-systems-in-nigeria_5b102bae7f8b9ab7858b4608.html

10. Alsajjan B., Dennis C. Internet banking acceptance model: Cross-market examination. Journal of Business Research. 2010;63(9–10):957–963. DOI: 10.1016/j.jbusres.2008.12.014

11. Montazemi A. R., Qahri-Saremi H. Factors affecting adoption of online banking: A meta-analytic structural equation modeling study. Information & Management. 2015;52(2):210–226. DOI: 10.1016/j.im.2014.11.002

12. Hsu Y., Nguyen T.M. Service quality, customer satisfaction, and customer loyalty of Internet banking in Vietnam. International Review of Management and Business Research. 2016:5(4):1485–1496. URL: https://www.irmbrjournal.com/papers/1480997400.pdf

13. Sleimi M. Effects of risk management practices on banks’ performance: An empirical study of the Jordanian banks. Management Science Letters. 2020;10(2):489–496. DOI: 10.5267/j.msl.2019.8.021

14. Sadir F., Leandro M.J., Martins A.P., Loureiro-Dias M.C., Moura T.F., Soveral G., Prista C. Exploring three PIPs and three TIPs of grapevine for transport of water and atypical substrates through heterologous expression in aqy-null yeast. PLoS One. 2014;9(8): e102087. DOI: 10.1371/journal.pone.0102087

15. Mishra H.G., Sinha P.K., Koul S. Customer dependence and customer loyalty in traditional and modern format stores. Journal of Indian Business Research. 2017;9(1):59–78. DOI: 10.1108/JIBR‑12–2015–0126

16. Kotler P., Keller K.L. Dirección de marketing. 14th ed. México: Pearson Education; 2012. 808 p.

17. Asiyanbi H.B., Ishola A.A. E-banking services impact and customer satisfaction in selected bank branches in Ibadan metropolis, Oyo state, Nigeria. Accounting. 2018;4(4):153–160. DOI: 10.5267/j.ac.2018.03.001

18. Yap K. B., Wong D. H., Loh C., Bak R. Offline and online banking — where to draw the line when building trust in e-banking? International Journal of Bank Marketing. 2010;28(1):27–46. DOI: 10.1108/02652321011013571

19. Maria Correia Loureiro S., Miranda F.J., Breazeale M. Who needs delight? The greater impact of value, trust and satisfaction in utilitarian, frequent-use retail. Journal of Service Management. 2014;25(1):101–124. DOI: 10.1108/JOSM‑06–2012–0106

20. Forsythe P.J. Construction service quality and satisfaction for a targeted housing customer. Engineering, Construction and Architectural Management. 2016;23(3):323–348. DOI: 10.1108/ECAM‑05–2015–0076

21. Stamenkov G., Dika Z. A sustainable e-service quality model. Journal of Service Theory and Practice. 2015;25(4):414–442. DOI: 10.1108/JSTP‑09–2012–0103

22. Keskar M. Y., Pandey N. Internet banking: A review (2002–2016). Journal of Internet Commerce. 2018;17(3):310–323. DOI: 10.1080/15332861.2018.1451969

23. Marafon D.L., Basso K., Espartel L.B., de Barcellos M.D., Rech E. Perceived risk and intention to use Internet banking. International Journal of Bank Marketing. 2018;36(2):277–289. DOI: 10.1108/IJBM‑11–2016–0166

24. Yiga C., Cha K.J. Toward understanding the importance of trust in influencing Internet banking adoption in Uganda. Information Development. 2016;32(3):622–636. DOI: 10.1177/0266666914563359

25. Fungáčová Z., Hasan I., Weill L. Trust in banks. Journal of Economic Behavior & Organization. 2019;157:452–476. DOI: 10.1016/j.jebo.2017.08.014

26. Sikdar P., Kumar A., Makkad M. Online banking adoption. International Journal of Bank Marketing. 2015;33(6):760–785. DOI: 10.1108/IJBM‑11–2014–0161

27. Ong C.S., Lin Y.L. Security, risk, and trust in individuals’ Internet banking adoption: An integrated model. International Journal of Electronic Commerce Studies. 2015;6(2):343–356. DOI: 10.7903/ijecs.1428

28. Özkan S., Bindusara G., Hackney R. Facilitating the adoption of e-payment systems: Theoretical constructs and empirical analysis. Journal of Enterprise Information Management. 2010;23(3):305–325. DOI: 10.1108/17410391011036085

29. Sleimi M.T., Karam A.A., Qubbaj I.S. The impact of e-banking services quality on customers satisfaction moderated by customer trust: Survey on Arab Bank in Amman, Jordan. Journal of Al-Quds Open University for Administrative & Economic Research. 2018;3(9):24–37. DOI: 10.5281/zenodo.1405450

30. Dixit N., Datta S.K. Customers perception on Internet banking and their impact on customer satisfaction and loyalty: A study in Indian context. Journal of Computing. 2010;2(7):131–135.

31. Dufwenberg M. Banking on experiments? Journal of Economic Studies. 2015;42(6):943–971. DOI: 10.1108/JES 08–2015–0145

32. Ramalho Luz C.M.D., Luiz de Paula S., de Oliveira L.M.B. Organizational commitment, job satisfaction and their possible influences on intent to turnover. Revista de Gestão. 2018;25(1):84–101. DOI: 10.1108/REGE‑12–2017–008

33. Yaseen S.G., El Qirem I.A. Intention to use e-banking services in the Jordanian commercial banks. International Journal of Bank Marketing. 2018;36(3):557–571. DOI: 10.1108/IJBM‑05–2017–0082

34. Van Esterik-Plasmeijer P.W.J., van Raaij W.F. Banking system trust, bank trust, and bank loyalty. International Journal of Bank Marketing. 2017;35(1):97–111. DOI: 10.1108/IJBM‑12–2015–0195

35. Tabachnick B.G., Fidell L.S. Using multivariate statistics. 5th ed. Boston, MA: Pearson Education; 2007. 980 p.

36. Zyberi I., Caca E., Polo A. E-banking in Albania, a comparison with region countries. In: Proc. 2nd Int. virtual conf. on advanced scientific results — SCIECONF 2014 (June 9–13, 2014). Zilina: EDIS — Publishing Institution of the University of Zilina; 2014:127–133.

37. Anderson E.W., Sullivan M.W. The antecedents and consequences of customer satisfaction for firms. Marketing Science. 1993;12(2):125–143. DOI: 10.1287/mksc.12.2.125

38. Caruana A. Service loyalty: The effects of service quality and the mediating role of customer satisfaction. European Journal of Marketing. 2002;36(7/8):811–828. DOI: 10.1108/03090560210430818

39. Hoq M.Z., Sultana N., Amin M. The effect of trust, customer satisfaction and image on customers’ loyalty in Islamic banking sector. South Asian Journal of Management. 2010;17(1):70–93.

40. Arasly H., Turan Katircioglu S., Mehtap-Smadi S. A comparison of service quality in the banking industry: Some evidence from Turkish- and Greek-speaking areas in Cyprus. International Journal of Bank Marketing. 2005;23(7):508–526. DOI: 10.1108/02652320510629881

41. Othman A., Owen L. Adopting and measuring customer service quality (SQ) in Islamic banks: A case study in Kuwait finance house. International Journal of Islamic Financial Services. 2001;3(1):1–26. URL: https://iaif.ir/images/khareji/articles/bank/35.pdf