Clients Satisfaction on Fund Transfer Via Mobile App of Universal Banks in Metro Manila

Abstract

The study aims to assess the customer satisfaction for the fund transfer option in the mobile applications of universal banks in Metro Manila. The researcher opted to use the descriptive method of research in assessing the degree of respondents’ acceptance and areas for improvement. Furthermore, the researcher developed a researcher-made questionnaire, which was validated by a registered psychometrician before it was subjected to pre-testing. After the approval of the statistician, the researcher-made instrument was distributed to the students of Polytechnic University of the Philippines Graduate School, some BPO employees and to some BPI employees, who also provided assistance to the researcher in the distribution of the questionnaires to their colleagues. The result reveals that 216 or 59.7% of the respondents are between 21-30 years old, 201 or 55.5% are female, 247 or 68.2% are unmarried, 179 or 49.4% belongs to rank and file positions, 224 or 61.9% are users of the fund transfer mobile app for three years, 262 or 72.4% visits bank branches for at least thrice a month, 270 or 74.6% visits bank branches to make a deposit, 305 or 84.3% opened an online account because of its convenience, 174 or 48.1% are sending money to their family and friends amounting to 1001 to 5000 per month, and 186 or 51.4% are sending money using the mobile fund transfer one to three times in a month. The respondents’ level of satisfaction on the service quality of the mobile banking fund transfer facility in terms of Reliability acquired a grand mean of 4.53 with a verbal interpretation of ‘Very Satisfied’, in terms of Efficiency which got 4.23 grand mean with verbal interpretation of ‘Satisfied’, and in terms of Security it got a 3.87 grand mean or ‘Satisfied’. When respondents are grouped according to age and employment position, there is a significant difference in the respondents’ level of satisfaction based on its reliability, therefore, the null hypothesis was rejected. When the respondents are grouped according to age, gender, civil status, employment position, and by number of years using the mobile app, efficiency and security aspects do not significantly differ therefore, the null hypothesis is accepted. The researcher recommends the following: 1. banks should maximize its effort in educating their clients about the facility; 2. banks should develop the proficiencies of its employees about the mobile banking fund transfer option to ensure the quality service; 3. banks should also simplify the process of enrollment and activation of the mobile banking fund transfer facility; 4. banks should also provide an SMS alert as a notification for every successful fund transfer transaction when using the mobile app; 5. banks should enhance the capability of other types of account to become the source account for the transfer and not limit be limited to ATM-based accounts only; 6. banks must be consistent in the dissemination of information regarding the security of the mobile banking so that their clients can be fully aware of how to protect their bank transactions, especially when doing their fund transfer using the mobile app; and 7. banks should also consider the possibility of transferring funds from their banks to other banks, via the mobile banking fund transfer facility.