This study aims to investigates customer satisfaction from the use of bank chatbots and the effect of perceived trust in chatbots and banks' reputation on customer satisfaction.
Abstract
Purpose
This study aims to investigates customer satisfaction from the use of bank chatbots and the effect of perceived trust in chatbots and banks' reputation on customer satisfaction.
Design/methodology/approach
A survey is conducted in Turkey involving 240 customers who experienced banking transactions using a chatbot. Partial least squares structural equation modeling (PLS-SEM) is used to investigate the relationships between the variables. The data were analyzed using SPSS 21 and SmartPLS programs.
Findings
Perceived performance, perceived trust and corporate reputation significantly affect customer satisfaction with chatbot use. Customer expectations and confirmation of customer expectations have no direct impact on customer satisfaction, but customer expectations positively affect perceived performance. Customer expectations exert an indirect influence on customer satisfaction through perceived performance. Perceived performance has a positive impact on the confirmation of customer expectations, but customer expectations do not significantly impact the confirmation of customer expectations.
Research limitations/implications
This study relies on a limited number of participants. Moreover, its sample is not representative of the target population due to the convenience sampling technique. Even if the results may not be generalized to the entire population of Turkey, they reflect the reality of emerging markets with relatively high technology sensitivity and a young population.
Practical implications
The results provide new insights regarding banking service delivery channels, which may be of interest to professionals, academics, banks' top management, product development teams, design teams and customer satisfaction units.
Social implications
This study is believed to help the community make their lives easier by providing them with knowledge and awareness about chatbots.
Originality/value
This study extends expectations confirmation theory's predictions to chatbot use in banking.
Details
Keywords
Reena Rani, James Kanda, Chanchal Chanchal and Taranjit Singh Vij
Purpose: This chapter discusses the role and use of chatbots adopted by the different categories of banks (private and public sector banks) in India. The chapter presents brief…
Abstract
Purpose: This chapter discusses the role and use of chatbots adopted by the different categories of banks (private and public sector banks) in India. The chapter presents brief essential services offered by Indian chatbots regarding accuracy, technology providers and virtual assistance, ways to connect, etc. This chapter concluded that most of the questions answered by the Indian chatbots are already available on the banks’ websites, and there is a need for enhancement in the capabilities of Indian chatbots.
Need for the Study: The need for the study is based on the working of banking chatbots, customer query handling, and the efficiency of the chatbots in India. The chapter helps to analyze the services offered by various banks.
Methodology: This chapter is based on secondary data collected from banks’ websites and articles from various journals. The study is based on nine banks (both private and public sectors) those are having working chatbots (SBI, HDFC Bank, ICICI Bank, Yes Bank, IndusInd Bank, Kotak Mahindra Bank, Axis Bank, Andhra Bank, Bank of Baroda). The present study is focused on chatbots, their services, and software applications for various customer-handling capacities.
Findings: The research concluded that Indian banks are investing a small amount in using chatbots, yet Indian chatbots are deficient regarding far too provincial administrations as they are adequate just for standard and basic inquiries. Also, Indian customers are not properly aware of chatbots and virtual assistance.
Practical Implications: This study provides an overview of the working chatbots in India (for both public and private sector banks) and their functions, as well as the capacities of these chatbots. The previous conducted studies are based on the uses, importance, and working of chatbots/artificial intelligence (AI) in banking. In this study, after discussing the different services, it is found that Indian banks need to update their AI/Virtual assistance with more features.