This study examined the impact of electronic banking on customers’ satisfaction in Nigeria. In order to achieve the aim of the study, some specific objectives were set, which are to: identify e-banking products and services engaged by Nigerian commercial banks customers, establish different benefits of e-banking products and services provided by Nigerian commercial banks, ascertain the problems encountered by customers in using e-banking products and services in Nigeria and suggest solutions to identified problems of e-banking products and services.
The study was carried out among the customers of three selected commercial banks in Ogbomoso, Oyo state, namely: Guaranty Trust Bank, First Bank of Nigeria and United Bank of Africa and the focus were on four out of the various electronic banking services that are available in Nigeria which are POS, ATM, Mobile Banking and Internet Banking. 120 respondents were selected from the population of the study. Primary data were used for the study and were sourced from questionnaires which were administered to the customers of the three selected banks. The data were analyzed using both descriptive and inferential statistical tools. Descriptive tools include frequency tables and percentages. For the inferential statistics, linear regression analysis was used to analyze the hypothesis.
The findings of the study revealed that majority of the customers of the sampled banks make use of ATM services very often, some make use of mobile banking often, majority rarely make use of Internet banking and POS. It also established the benefits of using e-banking services such as; makes transaction easier and faster, convenience makes cash readily available etc. Furthermore, problems of e-banking products and services were identified to be: poor level of security in Nigeria, identity theft on e-banking platforms, hidden charges in e-banking system etc. The regression analysis result indicated that R is 0.871, R2 is 0.889 (88.9%), F-statistic of 3465.10 and a p-value of 0.000 which implies that there is a significant relationship between e-banking products and services and customers’ satisfaction in Nigeria.
The study concluded that the customers of the sampled banks make use of e-banking products and services provided by their respective banks and their satisfaction depended on their level of usage of it. It is therefore recommended that banks should train and retrain their staff to ensure they keep up with the dynamism of information technology and banks should utilize e-banking services to the fullest advantage in order to enhance their efficiency and effectiveness.