TITLE:
Impact of Digitalization on Serbian Banking: Social Factors and Customer Satisfaction
AUTHORS:
Kristina Maksic, Petros Golitsis, Ljubomir Radev, Pavlos Gkasis
KEYWORDS:
Digital Banking, E-S-QUAL Framework, Social Demographics, Customer Satisfaction, Digital Transformation
JOURNAL NAME:
Theoretical Economics Letters,
Vol.14 No.5,
October
31,
2024
ABSTRACT: The banking sector, crucial to economic growth in developing nations, is undergoing rapid digital transformation, especially in Serbia, where competition among banks is fierce. This study examines how social factors—age, education, computer literacy, and income—influence the use and satisfaction with digital banking services in Serbia. A survey of 145 customers was conducted, utilizing the E-S-QUAL framework to assess electronic service quality in terms of efficiency, fulfillment, system availability, and privacy. Findings show that older age, lower education, and limited computer literacy, especially with lower income, negatively impact digital banking usage and satisfaction, while higher education and computer literacy enhance them. To ensure successful digital transformation, policymakers must foster supportive regulations, businesses should improve service quality, and customers need to recognize the benefits of broader adoption. Digitalization offers opportunities but requires coordinated efforts to address its challenges and achieve customer satisfaction.