CUSTOMER-CENTRIC DIGITALIZATION IN NEPALESE COMMERCIAL BANK: PERSPECTIVE FROM BANK MANAGER

Abstract

Customer satisfaction means meeting or surpassing customer expectations, resulting in happiness or disappointment based on perceived product performance relative to expectations. It is crucial strategy for banks to gain a competitive edge and thrive, achieved through maximizing deposits, fostering customer trust, and prioritizing high-quality services and competitive interest rates to attract and retain a diverse customers. This research investigates customer satisfaction in commercial banks of Kathmandu Valley in Nepal. A qualitative cross-sectional study was conducted, involving purposeful selection of eleven key informants from Kathmandu's banks for Key Informant Interviews, followed by thematic analysis. This study found that the current state of customer satisfaction in Nepal's commercial banks reflects a mixed scenario, with advancements in digital services enhancing urban satisfaction but disparities persisting between urban and rural areas. While efforts to monitor and enhance satisfaction have expanded nationwide, challenges like technological interruptions and organizational culture persist. Opportunities for improvement include initiatives such as banking literacy programs and digital transactions expansion. Addressing challenges and embracing digital transformation are seen as crucial for fostering satisfaction and competitiveness in Nepal's banking industry.