The impact of mobile banking customer experience on loyalty among millennials in South Africa

Banks need to remain competitive in the ever-changing business environment. Millennials are one of the largest customer segments with a large digital and mobile appetite; as a result, they form a natural target for banks. To increase their customer base, banks need to ensure that their customer experience strategy caters for these young customers in accordance with their expectations. This study explores factors that influence customer experience in mobile banking and how this experience influences customer loyalty to their bank. This study used a mixed-methods strategy and collected data from 344 mobile banking users via an online survey questionnaire and a further 10 semi-structured interviews were conducted. The research hypotheses were tested through regression analysis, whilst thematic analysis was used for open-ended questions in the survey and the 10 interviews. The results showed that convenience, ease of use and customization significantly influence customer experience in mobile banking. Customer experience was perceived to significantly influence customer loyalty