Key Factors Influencing Customer Satisfaction of Bank of Bhutan’s Digital Banking Services

Abstract

Using the SERVQUAL Model, this paper investigates consumer satisfaction with mobile banking services offered by the Bank of Bhutan (BoB). This study examines users' opinions and satisfaction levels with digital banking services from three districts in Bhutan. A simple random sampling technique was used for the study. By focusing on customer satisfaction in the context of mobile banking in Bhutan, particularly with the mBoB application, the research seeks to fill a gap in the literature. This study has used customer satisfaction as the dependent variable, with the five dimensions of service quality, namely, tangibles, reliability, responsiveness, assurance, and empathy, as the independent variables. Results showed that reliability and empathy significantly influence customers’ satisfaction, showing a positive relationship. While tangibility, responsiveness, and assurance do not significantly impact customer satisfaction. Recognizing the greater importance of reliability and empathy, the digital banking industry in Bhutan may further enhance these qualities to achieve higher user ratings. In addition, this study offers valuable recommendations to the stakeholders, including the BoB.