Abstract:

Digitalization has brought to the banking industry new business models, development concepts, from internet, mobile banking to monetization of transactions on different platforms and intermediaries. Currently there is no doubt that the banking sector is at a major crossroads. This disruption can be seen also from the demand and supply of financial services, forcing banks to develop new low-cost models. Due to this pressure, almost all commercial banks in West and Central Africa are in the process of crafting their own digital strategy with the principal objective of offering more inclusive banking services to the population who in their majority has limited or no access to banking facilities. Recent studies show that less than 10% of Sub Saharan Africa population is banked, yet not much research has been done in this area to understand why. Thus, the need to investigate the impact of digitalisation of Banks external (Digital Outside) processes on the financial sector, of Sub-Saharan Africa. This study made use of both qualitative and quantitative methods. The relationship between digitalization and customers of banks was investigated using Pearson correlation coefficient. There was a positive correlation between the two variables [r= .236, n=278, p=.0.05], where increasing levels of digitalization is associated with higher levels of customers satisfaction. Based on the finding of the study, one can conclude that internet, mobile, ATMs, are the mostly used digital channel to reach the customers and thus increases the level of customer satisfaction and digital banking adoption in sub Saharan Africa.

Keywords: Digitalization, Customers Satisfaction, Profitability, Digital outside.

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