Challenges and prospects of the information technology based augmented banking services in Tanzania: a case CRDB Bank PLC

The purpose of this study was to assess the influence of magnate banking service on customers’ satisfaction using CRDB as a case. 60 bank customers and 10 members of CRDB staff were involved in this study. Data were collected mainly using semi structured questionnaire and analysed and presented using various techniques including frequencies, percentages an charts and factor analysis. Findings show that augmented banking services has significant influence on the customer’s satisfaction. Majority of customers have a good understanding and awareness of the nature of bank’s service augmentation. Furthermore, the study shows that , augmenting services make it simple to offer banks services and hence has a positive influence customers satisfaction. However, it was noted that services augmentation may increase cost of transaction and operations. Customers and bankers revealed that service augmentation would lead to better services and hence better performance as they offer value through increased cash flow, timely and accurate services, and quick and efficient customer information service based on the results, the researcher recommends that use technology is inevitable in order to gain competitive advantage in the banking sector. It is important for the owners of banks, staffs and banking associations to consider augmenting of services as relevant and necessary for the banks’ performance and customer satisfaction.