Adaptation of Technology on Products and Services Related in the Banking Industry: Challenges and Solutions

Abstract

This was a qualitative business case which used decision-making case design to explore the scenario of CRDB Bank Plc in Mbeya, Tanzania city on challenges and solutions in the adaptation of technology on products and services related in the banking industry toward customer experience. The secondary data collected through a review of various documents from CRDB related to customer’s welfare and usage of technology-related banking products and services. We used specific criteria to make sure the chosen articles fit our study's focus. Moreover, the research utilized the Mixed Methods Appraisal Tools (MMAT) to appraise the quality of the selected studies in the narrative literature review. The business case employed inclusion and exclusion criteria to select relevant studies for the review. The data from these selected studies extracted and analyzed using a narrative synthesis approach. Considering the challenges on customer retention; in order to overcome this challenge, CRDB Bank may need to invest in customer education, improve on the reliability of digital infrastructure enhance customer support for digital services, and maintain a strong focus on data security. Also, aiding digital offerings to the specific needs and choices of customers in Mbeya City can help improve customer retention in the face of technological changes. It was found that, customer satisfaction in digital banking services is enhanced and led by a combination of factors related to usability, security, convenience, customer support, and transparency. To succeed in this competitive area, banks have to prioritize these factors and continuously ensure to improve the general customer experience.