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This study focused on assessing customer’s satisfaction on agency banking adoption in Tanzania’s case of NMB Bank Plc in Dar es Salaam.
The general objective of this study was to assess customer satisfaction on Agency Banking adoption in Tanzania particularly at NMB Branches, in Dar es Salaam.
Specific objectives of the study were: to identify the factors that influence customers’ satisfaction on the use of agency banking services in the area of study; to identify the impact of Agency banking uses on the financial performance of NMB Bank Plc; and to identify the challenges facing NMB customers in using agency banking services in the area of study.
The study employed a case study design to address the specific research objectives. Both primary and secondary data collection techniques were used including interview and questionnaires. The sample consisted of 61respondents.
The findings in first objective revealed that there were different intrinsic factors for customer satisfaction in the use of agency banking such as responsiveness, service quality, confidentiality, security and service reliability. Findings from second objective revealed that there different impacts of agency banking to the financial performance of NMB Bank Plc such as, increase of deposit, increase of customer accounts(NTB) and increase of financial transactions which led to increased non funded income. Findings from last objective revealed different challenges of using agency banking such as poor perception on agency banking, high transaction cost, poor customer care and little knowledge about the uses of agency banking systems by both customers and agents.
Based on the findings, the study recommended, inter alia, that NMB Bank Plc should set enough budgets to train both agents and customers on the use of agency banking. Cost deducted during customer transactions particularly withdrawals also needs to be revised and amended to suit many customers. |
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