Đánh giá sự hài lòng khách hàng với dịch vụ ngân hàng số VCB digibank

Nội dung text: Đánh giá sự hài lòng khách hàng với dịch vụ ngân hàng số VCB digibank

1. Working Paper 2021.1.5.06 - Vol 1, No 5 ĐÁNH GIÁ SỰ HÀI LỊNG KHÁCH HÀNG VỚI DỊCH VỤ NGÂN HÀNG SỐ VCB DIGIBANK Cao Ngọc Anh1 Sinh viên K56 CLC Ngân hàng và Tài chính quốc tế - Khoa Tài chính ngân hàng Trường Đại học Ngoại Thương, Hà Nội, Việt Nam Nguyễn Thu Thủy Giảng viên bộ mơn Tiền tệ Ngân hàng - Khoa Tài chính ngân hàng Trường Đại học Ngoại thương, Hà Nội, Việt Nam Tĩm tắt Nghiên cứu này áp dụng mơ hình E-SERVQUAL để kiểm tra mức độ hài lịng của khách hàng đối với các dịch vụ ngân hàng số VCB Digibank. Dựa trên dữ liệu thu thập từ 204 khách hàng sử dụng VCB Digibank, kết quả cho thấy Hiệu quả (EF), Tin cậy (RE), Khả năng đáp ứng (RES), Đảm bảo (AS), Đồng cảm (EM) và Giá cả (PR) ảnh hưởng đáng kể và tích cực đến sự hài lịng của khách hàng đối với các dịch vụ của VCB Digibank, trong đĩ Đồng cảm cĩ ảnh hưởng mạnh mẽ nhất. Tác giả cũng đưa ra các cĩ giá trị cho Vietcombank trong việc thúc đẩy các dịch vụ ngân hàng số, hướng tới mục tiêu cuối cùng là thúc đẩy sự chấp nhận của khách hàng, cải thiện sự hài lịng của khách hàng và nâng cao long trung thành của khách hàng khi sử dụng dịch vụ ngân hàng số trong tương lai. Keywords: Ngân hàng số, Sự hài lịng khách hàng, Mơ hình E-Servqual, VCB Digibank AN ASSESSMENT OF CUSTOMER SATISFACTION WITH VCB DIGIBANK SERVICES Abstract This study applies the E-SERVQUAL model to examine customer satisfaction with VCB Digibank services. Based on data collected from 204 customers using VCB Digibank, the results demonstrated that Efficiency (EF), Reliability (RE), Responsiveness (RES), Assurance (AS), Empathy (EM), and Price (PR) significantly and positively influence customer satisfaction with VCB Digibank services, in which Empathy presents the strongest influence. The author also proposes valuable recommendations for Vietcombank in promoting their digital banking services towards the ultimate goals of motivating acceptance of customers, improving customer satisfaction, and enhancing the customers’ royalty of using digital banking services in the future. 1 Tác giả liên hệ, Email: caoanh.1699@gmail.com FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 83
2. Keywords: Digital banking, Customer Satisfaction, E-Servqual model, VCB Digibank. 1. Introduction Under the rapid growth of information technology, digital banking is considered an inevitable development trend of commercial banks in the modern world economy. The benefits and potentials of digital banking are enormous for customers, banks, and the economy as a whole. In Vietnam, digital banking is also being actively promoted. The program “National digital transformation to 2025, with orientation to 2030” of the Government has clearly stated that finance and banking is one of the fields with great social impact; and hence, should be prioritized to digitize first. In reality,the issue of developing digital banking services at commercial banks is still tough and demanding. A big requirement for banks in Vietnam nowadays is to develop and improve the quality of digital banking services to meet customer needs and enhance their satisfaction. In order to achieve that, it is urgent for banks to determine the factors affecting customer satisfaction with digital banking services. From there, banks can develop the right strategies to keep customers feel satisfied with the services provided, having them introduce the services to other potential customers through word of mouth, thereby improving the bank's position, market share, and profit. Vietcombank is one of leading commercial banks in Vietnam that has achieved much success with its e-banking services. Being the most prestigious commercial bank in 2020 according to the Vietnam Report, Vietcombank has always fulfilled its mission as a pioneer in applying digital technology. In 2020, Vietcombank launched a digital bank application, VCB Digibank, integrating the former VCB internet banking and VCB mobile banking. It attains many outstanding features, allowing customers to perform financial, non-financial transactions and advanced utilities. After a few months into operation, VCB Digibank soon became one of the leading digital banking services in Vietnam and was honored at the 2021 Sao Khue Award. According to YouNet Media, although VCB Digibank was launched later than some other digital banking services, as of December 2020, it has a market share of up to 14.7%. From Vietcombank perspective, studying the factors that affect customer satisfaction is of great importance to enhance customer experience and influence customers' willingness to continue using VCB Digibank service provided by the bank. With the above reasons, a comprehensive research model is necessarily required to identify factors that influence customer satisfaction with VCB Digibank services. Based on empirical findings, some recommendations are expected to be proposed to enhance the customer satisfaction with VCB Digibank services. 2. Theoretical basis and literature review 2.1. Digital banking services According to Sharma (2016), digital banking is the banking model that applies advanced technology platforms to perform all functions and services of banks. Trivedi (2019) added that digital banking gives customers the comfort of being able to access and perform all banking activities 24/7 without having to go directly to the bank branch as digital banking services can be done through computers, laptop, tablet or mobile phone. Digital banking has a broader and more comprehensive scope compared to e-banking. E- banking is a channel supporting other traditional services, where customers can make some simple FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 84
3. transactions such as mobile banking, internet banking; whereas digital banking refers to the bank's digital integration across all banking operations, application of digitization in the system of the bank including structure, banking process and activities. 2.2. Customer satisfaction with banking services Kotler et al. (2009) defined satisfaction as the feeling of pleasure or disappointment resulting from the comparison between the perceived performance of a product with people’s expectations. Research by Rust et al. (1995), Zeithaml et al. (1996), Lai and Cheng (2005), and many other researchers all found that there is a positive and significant relationship between service quality and business performance, in which service quality is a premise that plays a decisive role in customer satisfaction. If a service provider offers products whose quality meets the needs of the customers, they have completed the first step of making customers satisfied. Therefore, service quality is an important tool to measure the satisfaction of customers. Many widely used model also consider service quality as a measurement of customer satisfaction. 2.3. Literature review The SERVQUAL model developed by Parasuraman (1988) and SERVPERF model developed by Cronin & Taylor (1992) are the two most used techniques in analyzing perceived customer satisfaction on quality aspects of banking services, most of the prominent studies apply these two models and their variations. Siddiqi (2011) applied the SERVQUAL model framework and showed that service quality is positively correlated with customer satisfaction; in which, understanding is the factor that has the highest positive correlation with customer satisfaction, followed by assurance and tangible. The SERVPERF scale used by Shanka (2012) was proved to be convenient and effective to measure retail banking service quality. The relationship between service quality and customer satisfaction was examined and service quality was found to have a positive influence on customer satisfaction. In specific, two factors having the strongest influence on customer satisfaction are understanding and responsiveness, followed by tangibles, assurance and reliability which having the least impact. Parasuraman et al. (2005) developed the e-SERVQUAL model to analyze factors influencing customer satisfaction with electronic banking services. Ho and Lin (2010) developed an online banking service quality scale by taking a sample of 500 e-banking users in Taiwan and identifying the five components in the scale including effectiveness, responsiveness, privacy, secure communication, compensation, interface, and customization. Francisco et al. (2013) did a research on the field of satisfaction from the perspective of electronic banking users and found that accessibility, trust, ease of use, usefulness led to the customer satisfaction and showed a clear positive relation with customer satisfaction. Service quality, confidence, compliance, digitalization, tangibles, and human skills were the five characteristics of service quality (Zouari and Abdelhedi, 2021). Except for tangibles, the results showed a positive and significant association between the key characteristics of customer service quality and customer satisfaction. Osman (2016) showed that service quality is the most significant factor that makes customers satisfied. Raza et al. (2020) applied the modified e-SERVQUAL model to investigate the structural relationship between Internet banking service quality, electronic customer happiness, and FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 85
4. electronic customer loyalty. According to the findings, all dimensions had a positive and significant influence on customer satisfaction. For the case of Vietnam, Tran (2015) investigated the factors affecting customer satisfaction with banking services at Asia Commercial Bank, Ho Chi Minh branch and found that reliability, responsiveness, service quality, empathy, and tangibles are contributing to the satisfaction of customers, in which responsiveness has the strongest influence. Research by Nguyen (2018) showed that that the products in Timo are developing in a positive direction with a high level of customer satisfaction and only a few problems such as security, deposit interest rate, crashes, and transaction time. Do (2019) examined customer satisfaction with internet banking services at Vietcombank – Can Tho Branch and concluded that the influencing factors are tangible, responsiveness, reliability, and service capacity. Thereby, some solutions were proposed to enhance customer satisfaction at Vietcombank – Can Tho Branch. Vo (2019) used primary data collected from surveys and secondary data on newspapers and previous studies. The author found out the factors affecting the satisfaction of individual customers with e-banking services of commercial banks in Ho Chi Minh City the most are service capabilities and reliability. The study also came up with some recommendations for commercial banks to have policies and appropriate actions to develop services to meet customer satisfaction. Recently, Nguyen (2020) applied e-SERVQUAL model in studying the influential factors on e-banking service quality satisfaction at Tien Phong Bank concluded that there were six factors affecting customer satisfaction in using banking services including reliability of e-banking services, ability to meet e-banking services, electronic equipment, e-banking service capacity, e- banking customer empathy, prices, e-service costs of banking, with reliability having the strongest influence on customer satisfaction with e-banking service of Tien Phong bank. A majority of international and domestic studies on factors affecting customer satisfaction with banking services use the SERVQUAL and SERVPERF models to evaluate service quality, which are not sufficient to measure e-service quality due to the lack of some characteristics relating to electronic services. Moreover, most studies on customer satisfaction with the banking sector in Vietnam has been conducted with e-banking services. Hence, the number of studies on customer satisfaction with digital banking have been limited. 3. Overview of VCB Digibank services 3.1. Overview of Vietcombank and VCB Digibank services Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), formerly known as Bank for Foreign Trade of Vietnam, was established on 01/04/1963 from the Foreign Exchange Bureau (of the State Bank of Vietnam), being the first state commercial bank chosen for pilot privatization by the Government. Vietcombank has many advantages of applying advanced technology into the automatic banking system, product development, and digital banking services based on its high technology foundation, modern banking technology and infrastructure, as well as the successful transformation of the core banking system in early 2020. The digital transaction platforms with a variety of digital banking services, such as VCB Digibank has attracted a large number of FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 86
5. customers due to their convenience, promptness, safety, and efficiency, thereby helping to create the habit of non-cash payments among the general public. 3.2. Current situation of using VCB Digibank services According to the World Bank (2019), the volume of non-cash transactions in Vietnam is currently the lowest in the region (at 4.9%), while this rate in China is 26.1%, and 59.7% in Thailand, up to 89% in Malaysia, etc. These numbers revealed the great potential for developing digital banking services in Vietnam. The COVID-19 epidemic has had a negative impact on all aspects of the economy, but it has been the driving force behind the dynamic implementation of transactions on digital banking platforms. According to the representative of National Payment Corporation of Vietnam (NAPAS), e-payment in the first quarter of 2020 increased by 76%, the total transaction value increased by 124% over the same period in 2019. Vietnam currently has a growth rate of 200% in Mobile Banking and about 30 million people use the banking payment system every day. Along with other commercial banks, Vietcombank has made a timely transformation when putting into use VCB Digibank with a promotion campaign to users. According to VCB News, by the end of 2019, the total number of customers activating Internet Banking/Mobile Banking of Vietcombank reached nearly 6 million accounts. Within the first week of launching the new VCB Digibank services, VCB recorded a positive response with over 60% of existing customers converting to VCB Digibank. After 10 months in operation, almost all existing customers have converted from VCB e-banking to VCB Digibank. Along with that, the number of customers coming to Vietcombank's transaction points to register and experience new services also doubled. 4. Research methodology 4.1. Data Collection The data in this research is gathered from questionnaires. The questionnaire is designed with two parts including demographic questions and constructs questions in the form of Likert scale. Demographic questions include gender, age, income, occupation, and education of the respondents. These questions are for the purpose of obtaining an overview of the sample. There are 32 constructs questions belonging to eight components: efficiency (EF), reliability (RE), responsiveness (RES), assurance (AS), interface (IN), empathy (EM), price (PR), and customer satisfaction (SA). The questions are based on Likert five-point scales ranging from 1 to 5 (In which: 1-Strongly disagree, 2-Disagree, 3-Neutral, 4-Agree, 5-Strongly agree). A total of 230 questionnaires were distributed, of which 204 were returned, giving a response rate of 89%. The SPSS Statistics version 20.0 is utilised for analysing the data. 4.2. Research Model The SERVQUAL model was developed by Parasuraman et al. (1988), originally built from 10 dimensions of the service quality and then generalized to only 5 dimensions measuring service quality gap, including Reliability, Responsiveness, Tangibles, Assurance, Empathy. The E-SERVQUAL model was developed from the SERVQUAL model by Parasuraman et al. (2005) to assess the quality of electronic services. The initial scales that are used to assess e- service quality include 22-item scale and are called E-S-QUAL. However, this approach FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 87
6. encounters a lot of debate over the scale's complexity and details, which makes it difficult for applying in specific circumstances. After extensive research, Zeithaml et al. (2002) developed a 7-dimensional scale including: Efficiency, Fulfillment, Reliability, Privacy, Responsiveness, Compensation, and Contact. Figure 4.1. The proposed research model Source: Proposed by the authors The measurements for the selected variables are described in Table 4.1. 4.3. Research hypotheses Based on the previous studies and the context of Vietnamese digital banking system, this thesis proposed the following hypotheses: H1. Efficiency positively and significantly influences customer satisfaction with VCB Digibank services. H2. Reliability positively and significantly influences customer satisfaction with VCB Digibank services. H3. Responsiveness positively and significantly influences customer satisfaction with VCB Digibank services. H4. Assurance positively and significantly influences customer satisfaction with VCB Digibank services. H5. Empathy positively and significantly influences customer satisfaction with VCB Digibank services. H6. Interface positively and significantly influences customer satisfaction with VCB Digibank services. H7. Price positively and significantly influences customer satisfaction with VCB Digibank services. FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 88
7. Table 4.1. Variables of the model and their indicators Variables Symbol Indicators I think that the app and website of VCB Digibank handle a EF1 transaction quickly I can find what I need easily on the app and website of VCB EF2 Digibank Efficiency (EF) EF3 I find the app and website of VCB Digibank simple to use EF4 I can easily log in the app and website of VCB Digibank anywhere I think the app and website of VCB Digibank has a fast speed of EF5 loading I find the information provided by VCB Digibank services to be RE1 accurate and reliable RE2 I find VCB Digibank delivers all the services as promised I believe that my personal information will be secured when using Reliability RE3 VCB Digibank services (RE) I believe the procedure of settling transactions of VCB Digibank RE4 services is safe I feel that technical problems rarely happen with the system of RE5 VCB Digibank services RES1 I think VCB Digibank provide services that satisfy my needs I believe customer support center of VCB Digibank services are RES2 ready to help me at any time Responsiveness I believe customer support center of VCB Digibank services (RES) RES3 supports me with great enthusiasm I believe customer support center of VCB Digibank are ready to RES4 answer all my questions AS1 I feel that VCB Digibank services have good reputation and image I feel assured when making transactions with VCB Digibank AS2 Assurance (AS) services I feel that VCB Digibank services’s staff have good knowledge AS3 and expertise I feel that VCB Digibank provide services according to my needs EM1 and habits Empathy (EM) I see that VCB Digibank provide specific, easy-to-understand EM2 instruction to use the services FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 89
8. Variables Symbol Indicators I feel that VCB Digibank services’s counselor give advice for my EM3 greatest benefit EM4 I feel being cared about when using VCB Digibank services PR1 I find that the fees and rates of VCB Digibank is competitive I find that the fees and rates to register, maintain and use the PR2 services of VCB Digibank is stable Price (PR) I think that the fees and rates to register, maintain and use the PR3 services of VCB Digibank is reasonable for its service I notice that VCB Digibank has attractive discount promotions and PR4 special offers VCB Digibank’s website / application can be customized IN1 according to my preferences I think that the VCB Digibank’s website / application has eye- IN2 catching and inspiring design Interface (IN) I think that the VCB Digibank’s website / application has good IN3 structure I think that the VCB Digibank’s website / application has clear IN4 images Customer SA1 I am satisfied with VCB Digibank services satisfaction SA2 I think I made an accurate decision to use VCB Digibank services (SA) SA3 I will introduce VCB Digibank services to other people Source: Proposed by the authors 5. Research results and analysis 5.1. Demographic Analysis FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 90
9. Table 5.1. Demographic analysis Category Frequency Percentage Male 96 47.10% Gender Female 108 52.90% From 18 to 24 115 56.40% From 24 to 34 54 26.50% Age Group From 35 to 44 26 12.70% From 45 to 54 5 2.50% More than 55 4 2% High school 7 3.40% Bachelor’s Degree 160 78.40% Education Master’s Degree 32 15.70% PHD’s Degree 5 2.50% Less than 5 million VND 94 46.10% From 5 to 10 million VND 62 30.40% Income From 10 to 20 million VND 32 15.70% From 20 to 40 million VND 11 5.40% More than 40 million VND 5 2.50% Less than a month 28 28 From 1 to 4 months 39 39 Time use From 4 to 7 months 46 46 More than 7 months 91 91 Source: Results of demographic analysis from SPSS 20 Table 5.1 shows that the gender respondents are distributed quite equally, with the number of female respondents slightly greater (53%), leaving the remaining 47% being male respondents. In terms of age, most respondents fall within the range of 18 to 24 years old, accounting for 56% (115 respondents). Among 204 respondents, 78% have a bachelor’s degree and 16% have a master’s degree. Only 5 in 205 respondents have received PHD’s Degree (2.5%); 3.4% of the respondents has finished high school. VCB Digibank was launched on 16 July 2020, which has been about 11 months up to the time of the thesis. The time was divided into 4 categories with “More than 7 months” being the longest time use. Over two-fifths of the respondents have been using VCB Digibank services for more than 7 months (44.6%), indicating that they have used the service from the time of launching. 15.7% respondents have just started using the service for less than a month. Furthermore, the FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 91
10. demographic results indicated that the selected sample skewed toward a young and highly educated generation with income ranging mostly from less than 5 million VND to 10. 5.2. Cronbach’s alpha Table 5.2. Cronbach’s Alpha analysis results Corrected Item- Cronbach’s Alpha if Observable variables Total Correlation Item Deleted Efficiency (Cronbach’s Alpha =0.870) EF1 0.653 0.852 EF2 0.694 0.842 EF3 0.726 0.835 EF4 0.676 0.847 EF5 0.726 0.834 Reliability (Cronbach’s Alpha =0.778) RE1 0.465 0.763 RE2 0.66 0.7 RE3 0.65 0.707 RE4 0.706 0.686 RE5 0.359 0.819 Responsiveness (Cronbach’s Alpha =0.830) RES1 0.525 0.839 RES2 0.74 0.746 RES3 0.638 0.796 RES4 0.738 0.748 Assurance (Cronbach’s Alpha =0.701) AS1 0.542 0.578 AS2 0.608 0.519 AS3 0.43 0.739 Empathy (Cronbach’s Alpha =0.869) EM1 0.717 0.835 EM2 0.754 0.82 EM3 0.737 0.827 EM4 0.679 0.85 FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 92
11. Corrected Item- Cronbach’s Alpha if Observable variables Total Correlation Item Deleted Price (Cronbach’s Alpha =0.737) PR1 0.592 0.649 PR2 0.532 0.677 PR3 0.548 0.669 PR4 0.497 0.722 Interface (Cronbach’s Alpha =0.824) IN1 0.568 0.814 IN2 0.674 0.768 IN3 0.618 0.792 IN4 0.751 0.737 Customer Satisfaction (Cronbach’s Alpha =0.784) SA1 0.626 0.71 SA2 0.684 0.641 SA3 0.574 0.773 Source: Results of Cronbach’s Alpha Tests from SPSS 20 The results as shown in Table 5.2 show that scales for Efficiency, Reliability, Responsiveness, Assurance, Empathy, Price, Interface, and Customer Satisfaction all have Cronbach's Alpha greater than 0.7, and Corrected Item-Total Correlation of each observable variables are greater than 0.3. The value of Cronbach's Alpha if Item Deleted of RE5 and AS3 are greater than the scale’s Cronbach’s Alpha; however, these observable variables are quite important and meaningful in terms of research, the author does not remove these variables. Thus, all the observable variables are kept for subsequent analysis. 5.3. Exploratory factor analysis According to the results, KMO = 0.837>0.5, this means that the data analysis is consistent with the research data. Bartlett's test has the level of significance Sig. = 0.000 1.00 and the total variance extracted to explain the factor is 66.53% > 50.00%, which is satisfactory. It can be said that these factors can explain 66.53% of the variation of the data. FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 93
12. Table 5.3. Rotated Component Matrix Component Independent variables 1 2 3 4 5 6 7 EF1 0.8 EF3 0.8 Efficiency EF5 0.78 EF4 0.74 EF2 0.72 EM2 0.84 EM3 0.81 Empathy EM1 0.75 EM4 0.71 RE4 0.83 RE2 0.78 Reliability RE3 0.76 RE1 0.58 RE5 0.57 IN4 0.84 IN2 0.81 Interface IN3 0.78 IN1 0.76 PR1 0.79 PR2 0.76 Price PR3 0.73 PR4 0.7 RES4 0.79 Responsiveness RES2 0.75 RES3 0.75 AS2 0.83 Assurance AS1 0.79 AS3 0.68 Source: Results of Rotated Component Matrix from SPSS 20 FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 94
13. 5.4. Result of Regression model Table 5.4. Pearson’s Correlation Coefficient Variables EF RE RES AS EM IN PR SA EF 1 RE 0.351 1 RES 0.456 0.339 1 AS 0.309 0.205 0.269 1 EM 0.393 0.326 0.532 0.162* 1 - IN -0.085 -0.072 0.175* -0.052 1 0.205 - PR 0.180* 0.287 0.159* 0.08 0.141* 1 0.052 - SA 0.515 0.609 0.564 0.302 0.645 0.369 1 0.209 Note: *, denote for significance levels at 5% and 1% respectively Source: Results of Pearson’s Correlation Matrix from SPSS 20 We can see that the correlation coefficient between the dependent variable and the independent variable is mostly high, with Sig = 0.000. Thus, there is a linear relationship between the dependent variable and the independent variables. The correlation coefficient between the independent variables is not greater than 0.9, so the correlation analysis is satisfactory and suitable for regression analysis. Regression analysis Regression analysis was conducted with the dependent variable being customer satisfaction and 7 independent variables which are: efficiency, reliability, responsiveness, assurance, empathy, price, and interface. Table 5.5. Model summary Adjusted R Std. Error of the Durbin- Model R R Square Square Estimate Watson 1 0.823 0.678 0.666 0.39852 2.018 Source: Synthesized from SPSS 20 R-Square is 0.678 and the adjusted R-Square is 0.666, meaning that the relevance of the model is 66.6%. In other words, this model can explain 66.6% of the variation of the customer satisfaction affected by the studied factors, the remaining 33.4% variation are explained by other variables outside the model that have not been mentioned in the scope of this study. In addition, the Durbin is 2.018, lying in the range from 1 to 3, indicating there is no autocorrelation, which means that the model does not violate the hypothesis of error of independence. FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 95
14. Regression coefficient Table 5.6. Regression coefficient Standardize Unstandardized Collinearity d Coefficients Statistics Model Coefficients t Sig. B Std.Error Beta Tolerance VIF (Constant -0.377 0.336 -1.123 0.263 EF 0.135 0.05 0.131 2.704 0.007 0.697 1.435 RE 0.314 0.44 0.328 7.101 0.000 0.772 1.295 RES 0.122 0.044 0.143 2.765 0.006 0.615 1.627 AS 0.118 0.058 0.091 2.033 0.043* 0.823 1.215 EM 0.292 0.042 0.36 7.035 0.000 0.627 1.595 IN -0.038 0.045 -0.038 -0.848 0.398 0.837 1.195 PR 0.167 0.042 0.169 3.963 0.000 0.909 1.1 Note: *, denote for significance levels at 5% and 1% respectively Source: Regression results from SPSS 20 From the results of Table 4.15, we see that apart from Interface, six other variables all have Sig. <0.05; therefore, these variables are considered to have a significant influence on customer satisfaction. In conclusion, there are 6 factors that significantly affect customer satisfaction, these are Empathy, Reliability, Price, Responsiveness, Efficiency, and Assurance (with significant level < 0.05). Interface does not significantly affect customer satisfaction. Thus, only 6 among 7 hypotheses are accepted: H1, H2, H3, H4, H5, H7. Thus, based on Table 5.6, the linear regression equation is shown as follows: SA = 0.131xEF + 0.328xRE +0.143xRES + 0.091xAS* + 0.36xEM + 0.169xPR + ε Note: *, denote for significance levels at 5% and 1% respectively. The results show that the acceptability of the variable (Tolerance) is quite high, and all variables have VIF<2. We can conclude that the model does not occur multicollinearity and the regression model is suitable. 5.5. Testing the differences in perceived satisfaction between qualitative variables Perceived satisfaction often varies from different target groups. Therefore, this thesis aims to explore the differences between groups to serve as a basis for their decision-making. To test the difference in customer satisfaction for individual characteristics, the thesis uses analysis of FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 96
15. variance technique with the support from SPSS. All tests consider the 5% significance level and obtain the following results: • There is no difference in the variance of satisfaction of female and male customers. • There is no difference in the variance of satisfaction among different groups of age. • There is a difference in the variance of satisfaction among different groups of occupation. More specifically, customer satisfaction differs between freelancers with the rest of the other groups. • There is no difference in the variance of satisfaction among different levels of education. • There is no difference in the variance of satisfaction among income levels. • There is no difference in the variance of satisfaction among different used time. 6. Conclusions From the empirical results, Empathy is the factor that has the strongest influence on customer satisfaction with VCB Digibank services, followed by Reliability. This shows that only after customers feel the care that the bank has for them will they consider the reliability of the services. Price is the third strongest influence on customer satisfaction. Responsiveness, assurance, and efficiency also positively affects customer satisfaction. Interface, on the other hand, does not demonstrate a significant impact on customer satisfaction with VCB Digibank services. These findings are consistent with many previous outcomes in the world. Digital banking services are considered an innovative step of commercial banks in the technology era. It is now the time for State Bank of Vietnam to carefully consider and create favorable conditions for digital banks to prosper. In addition, it is the aim of commercial banks in general and Vietcombank in particular to continuously improve and innovate service quality for customers. In order to do that, Vietcombank should pay special attention to factors that influencing customer satisfaction with their digital banking services including efficiency, reliability, responsiveness, assurance, empathy, and price. Therefore, joint stock commercial banks need to ensure the reliability of e-banking transactions, improve their ability to respond to e-banking services, and modernize electronic means for the e-banking system. Furthermore, they should improve staff's ability as well as service capacity for e-banking services to customers, ensure sharing and interacting well, warrant cost-effectiveness in e-banking transactions to enhance the efficiency of this service in the near future. FTU Working Paper Series, Vol. 1 No. 5 (08/2021) | 97
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