The service quality factors affecting customer satisfaction in transfers and payments at asia commercial bank joint stock in ho chi minh city

BANKING UNIVERSITY OF HO CHI MINH CITY---oo0oo--- LE HUY THONG THE SERVICE QUALITY FACTORS AFFECTING CUSTOMER SATISFACTION IN TRANSFERS AND PAYMENTS AT ASIA COMMERCIAL BANK JOINT STOCK

BANKING UNIVERSITY OF HO CHI MINH CITY

-oo0oo -

LE HUY THONG THE SERVICE QUALITY FACTORS AFFECTING CUSTOMER SATISFACTION IN TRANSFERS AND PAYMENTS AT ASIA COMMERCIAL BANK JOINT STOCK IN HO CHI MINH CITY

GRADUATION THESIS BUSINESS ADMINISTRATION MAJOR CODE: 7340101

SCIENCE INSTRUCTOR PhD BUI DUC SINH

HO CHI MINH CITY, 2021

MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIETNAM

BANKING UNIVERSITY OF HO CHI MINH CITY

-oo0oo -

LE HUY THONG THE SERVICE QUALITY FACTORS AFFECTING CUSTOMER SATISFACTION IN TRANSFERS AND PAYMENTS AT ASIA COMMERCIAL BANK JOINT STOCK IN HO CHI MINH CITY

GRADUATION THESIS BUSINESS ADMINISTRATION MAJOR CODE: 7340101

SCIENCE INSTRUCTOR PhD BUI DUC SINH

HO CHI MINH CITY, 2021

MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIETNAM

ACKNOWLEDGEMENT

I would like to spend the most gorgeous words to teachers at Banking University, who taught and gave me useful and valuable knowledge for my confidence to make this thesis Especially, sincere thanks to my science instructor – Ph.D Bui Duc Sinh, for instructing and heartlessly giving me to complete this Although he is really busy with a lot of work,

he still receives and spends his time accompanying me throughout the course of this thesis Besides, he shows me about limitations and disadvantages I have to avoid to take the thesis

to a beautiful result

I would also like to express my deep gratitude to the Board of Directors at Asia Commercial Bank for creating opportunities for me in order to experience and study during my course Because of time limits, my thesis cannot avoid shortcomings Thereby, I really look forward

to receiving the offerings from judges and readers to make my thesis more perfect

Sincerely thank you!

PLEDGE

The thesis with the topic “The service quality factors affecting customer satisfaction in transfers and payments at Asia Commercial Bank Joint Stock in Ho Chi Minh City” of the author’s research results The research is truthful in which there is no

previously published content or content made by others except sufficient citations or source citations in the thesis The information and data used in the research processes are collected

by the author from various sources, which is completely truthful and clearly cited in the references The author is solely responsible for the content of his research

Ho Chi Minh City, 22 th June 2021

Author

Le Huy Thong

ABSTRACT

The thesis with the topic “The service quality factors affecting customer satisfaction in

transfers and payments at Asia Commercial Bank Joint Stock in Ho Chi Minh City”

implemented to define the components affecting customer satisfaction and measure impacted level on the factors with 277 samples which customers have been using service

at ACB in Ho Chi Minh city The study uses both of methodologies (qualitative and quantitative analysis) The qualitative analysis surveyed 30 random customers with a particular time shows in the content part to undervest the clear in each sentence, content to understanding the terms in the questionnaire The quantitative research with 6 independent observed variables correlates together and with a dependent variable (SAT) The collected data used for evaluating the scale through Cronbach’s alpha, EFA, regression, correlation, and so on in the research model The thesis includes 3 main parts: First, the topic introduces situations and makes the scale based on the model of Parasuraman (1985) named SERVQUAL with some background in the service sector or refers to research buildings of the author in Vietnam and abroad Second, the result of variables in the research model impacting on customer satisfaction at ACB in HCMC Besides, the results after evaluating the measurement such as Cronbach’s alpha, EFA, regression, correlation, and so on Finally, pointing out the limitations, administrative implications and resolves for the next research directions Thereby, bring it into ACB to operate in reality

LIST OF ACRONYMS

ACB Asia Commercial Bank

SERVQUAL The service quality model

HCMC Ho Chi Minh city

EFA Exploratory Factor Analysis

ANOVA Analysis Of Variance

PO Payment order

JDI Job decrective index

LIST OF TABLE

Table 3.1 Research time plan ……19

Table 3.2 The Scale of reliability 26

Table 3.3 The Scale of responsiveness 26

Table 3.4 The Scale of assurance 28

Table 3.5 The Scale of empathy 28

Table 3.6 The Scale of tangible 29

Table 3.7 The Scale of price 29

Table 3.8 The final scale 31

Table 3.9 The data of quantitative research 34

Table 3.10 The scale of customer satisfaction with ACB's service 39

Table 4.1: The descriptive statistical data of gender 40

Table 4.2: Cronbach’s Alpha of the reliability scale 42

Table 4.3: Cronbach’s Alpha of the responsiveness scale 43

Table 4.4: Cronbach’s Alpha of the assurance scale 44

Table 4.5: Cronbach’s Alpha of the empathy scale 44

Table 4.6: Cronbach’s Alpha of the tangible scale 45

Table 4.7: Cronbach’s Alpha of the price scale 45

Table 4.8: Item-total coefficient in satisfaction components 46

Table 4.9: The Coefficient of general customer satisfaction 47

Table 4.10: KMO and Bartlett’s test 48

Table 4.11: Rotated Component Matrixa 49

Table 4.13: Principal Component 51

Table 4.14: The correlation between the definitions 52

Table 4.15: Evaluate the suitable levels of multivariable regression model 54

Table 4.16 T-Test analysis 54

Table 4.17: Evaluate the suitable for multivariables regression model 56

Table 4.18: Multi-variable linear regression model 57

Table 5.1 Factors impact on satisfaction 59

LIST OF FIGURE

Figure 2.1 - Positioning of literature on service charateristics 7

Figure 2.2 ACB’s Payment order sample 9

Figure 2.3 Payment in a bank 10

Figure 2.4 Payment in others 10

Figure 2.5 American Customer Sastifaction Index - ACSI 13

Figure 2.6 Model of the relationship between sastifaction and quality 14

Figure 2.7 Resreaching of the relationship between customer satisfaction and service quality in transferring payment in bank 17

Figure 3.1 Models of the procedures of the study 18

Figure 3.2 The theoretical model of customer satisfaction 20

Figure 3.3 The procedure of analyzing the data 23

Figure 3.3 The procedure of analyzing the data 23

Figure 3.4 The affecting of the intermediate variable 24

Figure 3.5 Five - Gap Model 35

Figure 3.6 Five-dimensional quality model 37

Figure 4.1: The descriptive statistical chart of age 41

Figure 4.2: The descriptive statistics and the average of transactions 41

LIST OF APPENDIX

Appendix no.1: The survey table of qualitative……….67

Appendix no.2: The final table and satisfaction scale……… 70

Appendix no.3: The official scale……… 73

Appendix no.4: Cronbach’s alpha……… 77

Appendix no.5: EFA analysis……….81

Appendix no.6: Correlation and regression analysis……… 84

Appendix no.7: Levene’s analysis……… 90

Appendix no.8: The chart of regression standardized residual……… 91

Appendix no.9: The chart of observed cum prob……… 92

Appendix no.10: The chart of regression standardized predicted value……….93

TABLE OF CONTENT PLEDGE III ABSTRACT IV LIST OF ACRONYMS IV LIST OF TABLE VI LIST OF APPENDIX I TABLE OF CONTENT II

CHAPTER I: INTRODUCTION 1

1.1 The importance of research 1

1.2 Research question 2

1.3 Scope of research 3

1.3.1 Research purpose 3

1.3.2 Objectives and scope of research 3

1.4 Methodology 4

1.5 Research significance 4

1.6 Expected thesis structure/ Expected contribution 5

CHAPTER II: LITERATURE REVIEW 6

2.1 The definition of service 6

2.1.1 The definition of service 6

2.1.2 The characteristics of service 6

2.1.3 Service of Payment Order 9

Figure 2.4 Payment in others 10

2.2 Service quality 11

2.2.1 The definition of the service quality 11

2.2.1 The general awareness of service quality 12

2.3 Customer’s satisfaction 12

2.4 The relationship between service quality and satisfied customer 13

2.5 Introduce SERVQUAL scale 14

2.6 Some researches of customers’ satisfaction with service quality 15

2.7 Models of research and theories 16

CHAPTER III: 18

RESEARCH METHODOLOGY 18

3.1 The procedures of the study 18

3.1.2 Qualitative analysis 19

3.1.3 Quantitative analysis 21

3.2 Official research 25

3.2.3 Design questionable table 25

3.2.4 Constructing and adjusting the scale 25

3.2.5 Implementation of quantitative research 33

3.3.1 SERVQUAL scale - The service quality scale 35

3.3.2 The scale of the satisfied level 38

SUMMARY OF CHAPTER 3 39

CHAPTER IV: 40

DATA ANALYZE 40

4.1 Statistical description 40

4.1.1 Sample 40

4.1.2 The information of the sample 40

4.2 Evaluate the reliability of the scale 42

4.2.1 Summary the conditions in reliable evaluation of the scale 42

4.2.2 The scale of satisfied customer levels with transferring payments 46

4.2.3 The scale of generally satisfied customers 46

4.3 EFA – The discovering factors analysis 48

4.3.1 Summary the conditions are to analyze EFA 48

4.3.2 The result of analyzing factors 48

4.5 Correlation analysis 52

4.6 Regression analysis 53

4.6.1 Test the hypothesis of regression model 53

4.6.2 T-test 54

4.6.3 ANOVA (option) 56

4.6.4 Evaluate the significance of each factor 57

SUMMARY OF CHAPTER 4 58

CHAPTER V: CONCLUSION AND MANAGERIAL IMPLICATIONS 59

5.1 The result and administrative implications 59

5.2.1 Responsiveness 59

5.2.2 Assurance 60

5.2.3 Reliability 60

5.2.4 Tangible 60

5.2.5 Price 61

5.3 Some limitations and the next research path 61

SUMMARY OF CHAPTER 5 62

CONCLUSION 63

REFERENCE 64

APPENDIX No.1: THE SURVEY TABLE OF QUALITATIVE 68

APPENDIX No.2: THE FINAL TABLE AND SATISFACTION SCALE 71

APPENDIX No.3: THE OFFICIAL SCALE 74

APPENDIX No.4: CRONBACH’S ALPHA 79

APPENDIX No.5: EFA analysis 83

APPENDIX No.6: CORRELATION and REGRESSION ANALYSIS 86

APPENDIX No.7: LEVENE’S ANALYSIS 92

APPENDIX No.8: THE CHART OF REGRESSION STANDARDIZED RESIDUAL 93

APPENDIX No.9: THE CHART OF OBSERVED CUM PROB 94

APPENDIX No.10:THE CHART OF REGRESSION STANDARDIZED PREDICTED VALUE 95

CHAPTER I:

INTRODUCTION 1.1 The importance of research

Service sector in general and in particular “Commercial banks” in Vietnam, that is always wondering about: “How can they satisfy their customers? What factors will directly affect the customer’s decision?” That’s the request which leaders are always put on top for the company Moreover, in order to survive in the business market, they have to constantly change, improve, innovate their management methods and elevate their position day in and day out to adapt to their customer while ensuring trust to customers

The prequisition purpose of building this survey of customer satisfaction is that collecting the values and reliability of reviews and perceptions from customer to business performance Besides, this activity helps to know what expectations do by customers? What reasons related to that? After collecting pieces of information, then set up business strategy and customer strategy etc to allocate resources, improve weaknesses to serve the most necessary customer's needs

Many commercial banks are currently working on business activities in Vietnam that must always compete in the diversity of many fields to develop the service sector and their service quality and tackle all customer demands ACB is no exception, however, the similarity in terms of general fields at the commercial bank such as technology, brand, service quality, etc is not yet popular Therefore, in order to develop and survive sustainably, they have to legalize supply and demand or in other called quantity goes parallel with quality Upgrading the company’s strongest points, creating its own distinctive character identity

Customers are the lifeblood of the bank, helping the bank to develop and survive through transactions Enhancing the service quality is the main factor of market competition, commercial banks need to maintain, refer and constantly improve them through meeting customer needs, which is the first step of optimization Service quality is intangible, affected by a service delivery banking process, from the beginning of the research model

to the design of samples and customer care The intangible nature of the services, taking place in an indeterminate space and time, therefore, is assessed to be more difficult and complex than goods or products

Vietnam implemented its commitments when becoming an official member of the World Trade Organization - WTO in the banking sector in November 2006 It was followed by the participation of wholly foreign-owned banks and affiliated banks Therefore, the fierce competition among banking institutions in the future will become closer and closer, even more fierce, this will be strongly implemented by Vietnam with its commitments set out from the beginning

After participating in WTO and facing many threats, opportunities, and even competitions, national commercial banks are gradually enhancing their business competitiveness through technology upgrading, network enhancement, increase in charter capital, etc to capture the market before banks operate as the normal ways of the domestic banks However, with small-medium banks, it is necessary to speed up their operations to avoid the risk of dissolution and merger due to improper regulations of the State Bank For that main reason, customer satisfaction is as well as a vital factor of success or failure

Asia Commercial Joint Stock Bank – ACB is considered to be a banking institution that has

a scale of capital and human resources, moreover, the ACB system covers the whole country from the north to the south In the tendency of enhancing competition on customer services quality, ACB is one of the competitors that understands and identifies clearly the issues to serve the customer needs well and raise income from service activities parallelly

In particular, the service, which ACB focuses on, improves the satisfaction of

transfer-payment service That’s the reason why the author researches the topic: “The service quality factors affecting customer satisfaction in transfers and payments at Asia Commercial Bank Joint Stock in Ho Chi Minh City”

1.2 Research question

To make the purpose clearly in this research, the thesis needs to answer the research questions below:

Q1 What ACB’s strengths of transfer-payment service compare with other competitors in the same field?

Q2 How will transfer-payment service quality affect customer satisfaction?

Q3 How will transfer-payment service quality affect ACB’s business performance?

1.3.1.2 Detail purpose

Seeking the current situations of commercial banks in Ho Chi Minh city From there, apply

to Asia Commercial Bank to increase efficiency and increase satisfaction with services

- Identify the quality factors in bank transfer payment services at ACB

- Determining the impact of the service quality factors in wire transfer payments on customer satisfaction

- Compare the differences of the factors of service quality between customers with different characteristics such as age, gender, income, etc

1.3.2 Objectives and scope of research

1.3.2.1 Objectives

Research topic about customers who have been using ACB’s main service is transfer and payment in Ho Chi Minh City The condition to participate in the thesis is the person who has opened the account at ACB

1.3.2.2 Scope of research

The scope of research in ACB's transfer-payment service, business performance development, and product situations Due to limited time and budget, the topic is limited within branches or transaction offices belongs to the East Saigon area

1.4 Methodology

Using a combination of both methods, there are: quantitative and qualitative with some others such as statistics, synthesis, analysis, and comparison to come up with a suitable plan for service quality improvement

This research goes through 2 phases:

- Official research: Using quantitative method by the ways to interview directly with the questionnaire table to determine models of scale and necessary factors affecting the customer satisfaction when using transfer-payment service at ACB

- Data solving: Using SPSS ver.20.0 to review the scale, analyze Cronbach’s alpha, EFA, regression model, etc

Collecting the data from:

- ACB web and department related

- Book, newspapers, journals of scientific research, and some web related

1.5 Research significance

The topic is a clear overview about determining all quality factors of transfer-payment service in working ways of commercial banks in general Since then, ACB can refer to this thesis to promote and widen extra-extensions with customer satisfaction belongs to retail fields or individuals, helping and improving the best of service performance to their customers

Also, they can:

- Setting up all linked conditions for improving banking services

- Distributing to advance in competing and increase in revenue of service

- Helping improved service strategy planning and resource allocation and staff capacity

- Basing on the results of situation assessment and solutions, ACB’s the board of directors can observe clearly in impacted points, then changing and adjusting reasonably

1.6 Expected thesis structure/ Expected contribution

This thesis includes 5 chapters and 3 main chapters inside, exception introduce and

conclusion:

 Chapter 1: Overview

 Chapter 2: The theoretical overview

 Chapter 3: Research design

 Chapter 4: Research result

 Chapter 5: Conclusions and recommendations

SUMMARY OF CHAPTER 1

Chapter 1 includes titles to make it clear in the theoretical basis of the thesis, shorten

some situations leading to topic construction Finally, the author shows purposes and

hoping titles, scope, and survey objectives with methodologies related

CHAPTER II:

LITERATURE REVIEW 2.1 The definition of service

2.1.1 The definition of service

Until now, many service definitions have appeared, which many authors used and analyzed

in each of their views So, accidentally that services are understood as:

“Service is a series of actions or activities which is intangible (no necessarily usually), occurs correlation and connect customers with employees, between merchandises and materials with solutions to solve all problem when customers meet, supplied by service supplying system.” (Grönroos, 1990)

“Service is a transactional action, which is also invisible and without ownership, can manufacturing or non-manufacturing goods” (Philip Kotler, 1997) In addition, service is

an economic activity where the source of consumption is not really a tangible product, appearing in the process of using the product and developing product value in areas such

as health, beauty, etc (V.A Zeithaml, L.L Berry & A Parasuraman, 1996)

In short, service is a series of actions that arise in transactions between parties A and B, supplier and consumer, commodity and material, or more That’s an idiosyncratic term in terms of intangible, appearing the intending interaction together Service also understood

by many definitions but the general purposes of service activities are to meet human needs Service is not merchandise but it serves directly all customer needs in society

2.1.2 The characteristics of service

According to service marketing as of 1980 shows results that services have four basic characteristics: Intangible, Inseparability, Variability, and Perishability Those form the basis of service marketing and become an area different from product marketing (Fisk, R P., Brown, S W., & Bitner, M J., 1993)

Figure 2.1 - Positioning of literature on service charateristics

[Source: (Wolak, R., Kalafatis, S., & Harris, P, 1998)]

Refer to relevant documents, (Wolak, R., Kalafatis, S., & Harris, P, 1998) have established the schematic as shown in figure 2.1 The reviews and comments showed two main work contents that are the service characteristics do the key factors of the research? Figure 2.1 shows the ways to approach research until now, demonstrating theory more than reality (Hartman, D E., & Lindgren, J H, 1993) investigated how did consumers distinguish between goods with services? This research is referred to as (Bowen, J, 1990) – Research

on service models without products and (Murray, K B and Schlacter, J.L, 1990) – How to distinguish between goods with services by consumers

2.1.2.1 Intangible

One of the four key properties, intangible is the primary service “Actions, satisfaction, and benefits are open to transact and perform in purchasing goods” were ideas proposed by

(Regan, W J, 1963) “Customers can easy to see the difference between service and product through the meaning of tangible” (Darby, M R., & Karni, E, 1973) (Onkvisit, S., & Shaw,

J J, 1991) believe that service was born in manufacturing capacity, the intangible characteristic is overrated while it is the manufacturing capacity that is the incentives, not the tangible in incentives

Service is a means, a term, or a definition that we are always mentioned by many people, calling by name, but you can not touch by hand, hear by ears, smell by your nose prior to taking it You can only imagine service quality through activities, documents, price, and so

on as you usually see With the intangible, business institutions always see the problem when using the service for customers to comment and perceive (Robinson, 1999)

2.1.2.2 Inseparability

The relationship between business and consumer will be formed from the concept of service Service only serves customer needs, so that is the reason why it is difficult for businesses to adapt to customer needs (Lâm Bảo Duy, 2016) This is difficult to manage because it does not produce before selling out and thus lacks quality (Grönroos, 1990) That

is, it is difficult to make a clear in the period of production and use Service and use happens

at the same time It is different from the common product, which goes through many periods prior to taking their products to consumers (Svensson, G, 2002) insisted that services which use a large workforce as the quality of service conversion are evident in the company that provides the service, detailed in the correlation between customers and company members Some services have customer engagements that show opinions, which will help service companies do fewer tasks than quality control because of customer impacts In case, customer comments are to be important

2.1.2.3 Variability

The variability of service is always dependent on the business, suppliers, time, space, and the methods of displaying supply services, which is reflected heavily in delivery service (Zeithaml, V A., Parasuraman, A., & Berry, L L;, 1985)

2.1.2.4 Perishability

As previously mentioned, service is non-storable, equivalent to commodity or tangible

(Rathmell, 1966) (Onkvisit, S., & Shaw, J J, 1991) identified that service is perishable by time Failure issues depend on suppliers, only when consumers lack supplying sources and wait for service that realizes that problems (Hartman, D E., & Lindgren, J H, 1993)

2.1.3 Service of Payment Order

2.1.3.1 The definition

PO(Payment order) is a bill, establishing from customer offers, who wants to extract some money from their own account to receiver PO only suitable when the customer agreed to write, sign, and commit with the bank After fulfilling the content of the PO and sending the bank, PO will be accepted that transferring order, and then the bank will transfer it immediately to the receiver

PO is means that used incredibly flexible (bank-in or bank out), easy and convenient to implement

Figure 2.2 ACB’s Payment order sample

(Source: ACB’s Financial and Accountant deparment)

2.1.3.2 The procedures of payout

Figure 2.3 Payment in a bank

(Source : Đàm Thị Thanh Hương, Voer newspaper)

a The process of payment at the same bank includes:

1- Buyer send to the intermediary is the bank

2- Seller send to the buyer

3- Comercial bank sends debt notices to the buyer

4- Banks send credit notes to recipients

5-

Figure 2.4 Payment in others

(Source : Đàm Thị Thanh Hương, Voer newspaper)

b The process of payment at other banks include:

1a - Seller send to the buyer

1b- The payer gives 4 PO invoices to the commercial bank for them to pay to the beneficiary

2ab - The bank checks the buyer's invoice, account balance, if eligible, deduct the payer's account, report the debt to them and transfer the money to the beneficiary's bank for payment to the beneficiary

3 - Upon receiving the payment order, the beneficiary's service bank will credit the seller If the beneficiary does not have a receiving account, the bank shall give credit and contact the receiver to take the money directly to the bank

2.1.3.3 Advantages and disadvantages of “Payment Order”

Advantages:

- It is an easy, convenient, and easy-to-use form of payment

- It is a kind of popular payment

- Be active to pay with the buyer and hold the number of commodities when making payouts

Disadvantages:

- Extended debt arises when the buyer does not / has not paid

- Benefit of payment is not guaranteed due to no specific regulations, or incorrect quality of goods

2.2 Service quality

2.2.1 The definition of the service quality

Service quality is a factor that mentioning in business models and it is considered by institutions to upgrade and update to compete with competitors So, What’s service quality? (Crosby, 1980) related to price in service; (Spreng, R A., MacKenzie, S B., & Olshavsky,

R W, 1996) the satisfaction of customers with the number of customers who have used services through business (Reichheld, F F., & Sasser, W E, 1990) and more detail in other fields and banking sector Service quality is the client's objective perception of a bank's portfolio or transaction When using the service cycle, service quality is formed between

customers and employees through communication, outreach, etc (Svensson,2002 trích từ (Nguyễn Đình Thọ và Nguyễn Thị Mai Trang , 2011))

2.2.1 The general awareness of service quality

The concepts and researchs showed the difficulty in distinguishing commodity from service The biggest difference is that customers give comments after buying and using it

So, research always defines the service as the subjectivity, attitude, and function of

identification

(Lewis, R C., & Booms, B H, 1983) stated that: How much does the scale of customer loyalty called SQ (service quality)? SQ is the optimal variant for adapting to consumer demands directly

SQ is a fantastic recognition of a tangible object or another called SQ is the consequence

of comparison, measurement, and interpretation between expectation and perception by attitudes using goods (Zeithaml, V A, 1987)

(Zeithaml, V A., Parasuraman, A., & Berry, L L, 1991) understood and identified that customer requirements are the most optimal and necessary in establishing a customer opinion survey in each business Then, we will have reasonable policies, smart strategies

to serve customers Putting customers on top This is a full and clear explanation in SQ (Lehtinen, U., & Lehtinen, J R, 1982) This author’s theory illustrates that SQ goes through

2 periods: [1] Service supply process [2] The result of services (Grönroos, C, 1984) also demonstrates SQ has 2 steps to evaluate: [1] Technique quality [2] Functional quality With technique quality mentioned in concepts, the function is evaluated by the service process

2.3 Customer’s satisfaction

The same with service and SQ, the diversification in definitions depending on distinct

fields (Zhang, L., Han, Z., & Gao, Q, 2008) Customer satisfaction is the prequisition of a

customer’s future goals When businesses have received satisfaction, the promotion was implemented by consumers as mouth marketing (Anderson, E W., Fornell, C., & Lehmann, D R, 1994) Business revenue always goes parallel with upgrading customer satisfaction, (Anderson, E W., Fornell, C., & Rust, R T, 1997) It is said that upgrading customer satisfaction does not cost much, but upgrading is the quality of service and

products from the beginning, which is the core of the problem Moreover, the evaluation of pre, during, and after-use is also the result of customer satisfaction through the time of appearance and existence of a certain type (Juran J M, 1991) In the same opinion, satisfaction is a comparison means and feelings of the customer after taking back the results (Kotler, P, 2003) (Giese, J L., & Cote, J A., 2000) reviewed the satisfaction has to go through three factors: [1] Emotion changes [2] Choices [3] Decision

In short, we have many definitions to describe this problem, but customer satisfaction is evaluation levels after comparing perceived customers and comments Then, to increase in profit, customer satisfaction is a key factor that businesses have to constantly update

2.4 The relationship between service quality and satisfied customer

From previous studies, it has been demonstrated that quality is the reason for customer satisfaction or, more understandably, that service quality and customer satisfaction have a reciprocal relationship (Cronin & Olsen, 2002 excerpt) have proposed the ACSI model that perceived quality of perception and satisfaction as covariant It is the similarity of this relationship that sometimes there is a similarity in the way of making the definition

Figure 2.5 American Customer Sastifaction Index - ACSI

[Source: (Nguyễn Phương Đài, 2016)]

The model shows the satisfaction is identified after using the results of 4 factors as Expectations, Loyalty, Complaint, and Perceived quality

Another way, many research shows the difference between the two definitions of satisfaction and SQ SQ is a reason for generating customer satisfaction SQ points out a detailed factor Satisfaction is a general definition (Wilson, A., Zeithaml, V A., Bitner, M J., & Grem, 2000), this is the author's model below.

Figure 2.6 Model of the relationship between sastifaction and quality

(Source: (Wilson, A., Zeithaml, V A., Bitner, M J., & Grem, 2000))

The model illustrates clearly that quality only focuses on factors: reliability, fulfillment, etc Whilst satisfaction is more inclusive, which includes quality of service SQ is one of the factors impacting satisfaction So, this is a positive relationship

2.5 Introduce SERVQUAL scale

Refers to the definitions of SQ, Parasuraman proposed SERVQUAL scale to survey and evaluate, including 21 variables belongs to 5 measurement components [1] Reliability [2] Responsiveness [3] Assurance [4] Tangible [5] Empathy This is called the non-affirmative model

After much research, recognition, and application, SERVQUAL is accepted as a scale used

in theory and practice It is also unavoidable that there are conflicting opinions about the scale that this is a generality and measurement Although recognized and studied in many countries, the reliability of the scale must also depend on factors in each region, etc

2.6 Some researches of customers’ satisfaction with service quality

The research mentioned satisfaction and SQ using, reviewing, and determining all factors affecting transferring and service Some following researches proved by research report as: (Smith, P C, 1969) researched on level of job description ( Job decretive index, JDI) through factors like work, promotion, human, etc using in thousands of research, this is the popular scale of many different fields After this research, there are also many other additions to the factor., particularly (Crossman, A., & Abou‐Zaki, B, 2003) used two extra factors is that welfare and work environment

(Boeve, W D, 2007) ) implemented to the satisfaction belongs to ownership of lecturers in America university on the basis of Herzberg&Smith et al For Boeve, factors which establish the satisfaction diving into 2 main types is that internal factors and external factors Internal factors include the nature of work, promotion opportunities On the opposite, external factors are human, salary, support The main purpose of research identifies the truth of both theories above Boeve also showed some quantitative indicators such as Cronbach's alpha coefficient, linear regression, etc The results showed that the internal index is still the most correlated with satisfaction The rest, with senior lecturers, will be affected by the linear regression model From there it can be seen that working time

is an important factor contributing to Boeve's research The accuracy of the Herzberg study and JDI has been verified

What’s about Vietnam research? (Trần Kim Dung, 2005) used JDI to research this situation again The author suggested the addition of two factors is that working conditions and welfare to suitable for researching all samples in Vietnam The same with this name, Ph.D Dung also aims for satisfaction in certain subjects as the purpose of the topic Ph.D Dung uses EFA and CFA methods, the research results prove that the nature of the job and the chance to gain fame are still the most important The downside of the topic is that the staff are attending the evening class, so they are rated higher than the normal sample

We can see that the JDI index is always an important scale and is widely used not only in Vietnam but also globally to describe and check the correctness in the satisfaction of customers and customers, employees, or even more in service quality Most studies have the addition or adjustment of internal or external factors to suit where they study and the end result is still testing the purpose of the study

Finally, although the JDI of labor people in the topic is different, it showed the similarity after summarizing Factors have similar, for instance: salary, working environment,

employees, the board of directions, remuneration, etc setting up with all factors to make the basis of implementing the research model

2.7 Models of research and theories

From the researches above, to evaluate the satisfaction of the customer, the author chose ingredients like Reliability (REL) , Responsiveness (RES), Assurance(AS), Tangible (TAN), Empathy (EM), Price (PRI), Image (IMA) To more exactly, the author has hypothesis model below:

 H1: High trust means a high level of satisfaction

 H2: If the responsiveness is good, the customer will satisfy

 H3: Assurance and customer satisfaction is non-inverse direction

 H4: With good Tangible, customer satisfaction is high

 H5: High empathy means high satisfaction

 H6: The competition in price make a customer satisfaction

 H7: Good organizational image satify the customer

Figure 2.7 Resreaching of the relationship between customer satisfaction and service

quality in transferring payment in bank

(Source: By Author's research)

SUMMARY OF CHAPTER 2

Chapter 2 gives the definitions and concepts of the basis as a premise for testing the indicators to evaluate customer satisfaction in the service framework of businesses in general and banks in particular Besides, the author references a number of famous research models together with making hypotheses to support his research That is also the basis that the author uses and evaluates the sample of customers at ACB in the frame of a specific transfer-payment service

CHAPTER III:

RESEARCH METHODOLOGY 3.1 The procedures of the study

After evaluating models from foreign and domestic documents, the author has distilled and come up with the most optimal model to serve his topic The model goes through 3 main phases and is designed as follows:

Figure 3.1 Models of the procedures of the study

(Source: By Author's research)

Table 3.1 Research time plan

to analyze and fit the variables in the questionnaire using for official scale into research The research includes 6 factors affecting customer demands using for transfer-payment service at ACB HCMC

In order to raise connectivity and practical value, the author organized a group discussion

Group discussion method:

The author organizes an online discussion carrying out in public page "Questionnaire survey" limited to 30 people In this survey, questions are designed in "google form" to collect customer's perspectives which is necessary for the satisfaction scale At the end of this survey, if samples are still not enough, the author will continue to approach the "Direct

to survey" methodology at some of ACB's branches belongs to East Saigon to have full data running research Finally, the author will build the five-factor model influencing on customer satisfaction who use transfer-payment service at ACB According to the consistency of the survey, the factor of facilities is not included in the research model because ACB always builds modern and high-class transaction offices and branches, so this

factor is unnecessary

Figure 3.2 The theoretical model of customer satisfaction

after using transfer-payment service

(Source: By Author's research.)

The author chose 3 levels of opinion in this survey with samples (n=30) There are

"accepted"(used in this survey), "No accepted" or "Neutral" (no use) Values ≥ 50% will be kept and used in the survey and in case they ≤ 50% will be canceled

After online surveying with a test scale, the author will filter and find out the official scale The official questionnaire will continue to interview with samples (n=100) through ACB's page of the customer service or large media interviews with a segment of old customer or who is using the service of ACB in all branches

The official model will use in research to impact on customer satisfaction in payment intention at ACB includes 7 factors, they have H7 will not be implemented in this because ACB has the same image in all branches, so this is not analyzed:

transfer-X1 = Reliability; X2 = Responsiveness; X3 = Assurance; X4 = Empathy; X5 = Tangible; X6= Price We have a regression equation,

Y = β0 + β1*X1 + β2*X2 + β3*X3 + β4*X4+ β5*X5+ β6*X6 Trong đó:

1 Y: Customer satisfaction in using transfer-payment service at branches/transaction

3.1.3 Quantitative analysis

The methodology of quantitative research using to evaluate and check the satisfaction level

of customers to the bank This is an official step to evaluate through survey forms with samples (n=150) is customers who have been using the transfer-payment service at ACB Collected data were processed by software SPSS 20.0 The encrypted data will be cleaned and analyzed through the following steps:

First, using Cronbach's alpha scale to comment reliability of variables After commenting,

if any variables are less than 0.5 (Corrected Item – Total Correlation), it will be no accepted and canceled immediately from total variables In opposite, If Cronbach's alpha coefficients are bigger than 0.7, it will be received to continue to analyze

Second, explore the convergence of the component variables through the EFA scale (Exploratory Factor Analysis) One-side variables have no correlation with others ( factor

loading) and less than 0.5, they will be canceled The breakpoint will have appeared when the elements have Eigenvalue coefficients > 1 % explanation of factors have to greater than

or equal to 50% Matrix coefficients in group ≥ 0.5 Distinguishing values among group ≥ 0.3

Third, defining theory models with the multi-variables implemented

Final, variance analysis ANOVA, Independent Sample T -test: in order to test the theory, have they exist the difference between personal characteristics and customer satisfaction? The tackling technique of quantitative will have displayed in chapter 4

3.1.3.1 The methodology of choosing research objectives

Research objectives: It is personal customers has Vietnamese nationality, which has been

using transfer-payment service at ACB in all east-Saigon branches in general and others belong to HCMC in particular (If yes) No limits in age and occupation

How to choose samples: Because of limited time, the range of customers in a particular

area not only use one service at ACB or any other reason to conveniently research for this thesis, but the author also uses about 100 - 150 people based on the final survey Sample sizes were chosen which would ensure the reliability of 95%

The methodology of the survey:

Refer to the customer service department of the bank, then carrying out to send the questionnaire to customers' email

Through the "Questionnaire survey" page, post public with link of google form to approach customers Target of 50-70 people

3.1.3.2 The methodology of analyzing the data

Figure 3.3 The procedure of analyzing the data

Figure 3.3 The procedure of analyzing the data

(Source by Author's research)

a Preliminary determinants in reliability of the scale

(Hoàng Trọng Và Chu Nguyễn Mộng Ngọc, 2008) α coefficient in Cronbach's alpha using

to evaluate the reliability and correlation level between variables This is a test of the quality

of scale using in the statistics of each observed variable Cronbach's alpha which goes from 0.8 to 1, is a good scale If the scale sat at 0.7-0.8, it would be accepted Some research also accepts α ≥ 0.6 to have full conditions to analyze, it could be based on situations

EFA analysis using for defining variables in model research In this research, the author used this method to group particular factors into an area that was easy to measure and analyze EFA standardize includes:

Use the Kaiser – Mayer – Olkin (KMO) and Bartlett coefficients to measure the fit of EFA Therefore, H0 (observed variables are not correlated with each other) is the null hypothesis and the appropriate EFA when the condition is satisfied: 0.5≤ KMO ≤1 and Bartlett's significance level ≤ 0.5 All other cases are invalid

The factors that Eigenvalue must always ≥1 because if smaller, there is not enough data to summarize and the factor will be accepted when the total variance extracted is ≥ 50% Besides, factor rotation is also a decisive factor In this study, the author also depends on factor loading to evaluate the significance of the discovery variable EFA Factor loading > 0.3 is minimal, important when > 0.4 and significant when > 0.5

However, as Cronbach's alpha coefficient analysis, keeping or removing an observed variable depends on the significance of that variable If factor loading is not met, but the approximation is guaranteed, then the variable is unnecessary

b The methodology of analyzing the role of the intermediate factors

Figure 3.4 The affecting of the intermediate variable

Source: (Baron, 1986)

(Baron, 1986) The influence of the intermediate variable shown in Baron's study,

illustrating the difference between the intermediate variables and dependent variables (Baron, 1986) the intermediate variables have a detailed effect in figure 3.4 The model has

3 key factors, there are dependent variables are used for explanation (Marketing by mouth), and 2 independent variables (perceived values and customer satisfaction) Model show clearly the main activities of a 3-factor process, that is a direct impact from sides of (a) and (c), detailed the influence between “Perceived values” and “Marketing by mouth” with

“Perceived values” and “Customer satisfaction” Besides, the intermediate variables (b):

“Customer satisfaction” and “Marketing by mouth” The customer satisfaction factor is the dominant factor, so the intrinsic meaning that (c) operates will sometimes be lost because

of this dominant variable, but it will exist in some other important cases

Based on the research of Baron mentioned, this is the mediating role of the quality factors

of transfer payment service at Asia Commercial Bank in HCMC

c T-test, ANOVA

This method helps the author to compare the values in the group of observed variables, in addition, it is also used to test the hypotheses in the population with the same average value

3.2 Official research

3.2.3 Design questionable table

The author uses a 5-level Likert scale to survey for the official questionnaire (after adjusting the qualitative scale) for his quantitative research The questions in the quantitative questionnaire are a combination of the adjustment of the Parasuraman scale and the customer's practical comments and group discussion Specifically, the 5 levels of Likert are

as follows: (1) Totally disagree, (2) Disagree, (3) Neutral, (4) Agree, (5) Totally agree The structure of the questionnaire consists of the following sections:

Introduce the topic title nd survey overview

Explanation of some terms

Instruction

Customer's personal information

Survey question

Thanks!

3.2.4 Constructing and adjusting the scale

3.2.4.1 Initial scale/ draft scale

After checking the theory and basing on Parasuraman questionnaire with preliminary interview (qualitative interview) above, the author built the scale with the range of customers who have been using the transfer-payment service at ACB

From Table 3.2 to Table 3.7 below is a combination of observed variables of the research model and the proposal synthesized from co-thematic studies The author has adjusted and implemented more and fewer topics in accordance with the object, time and location of the study

The scale of reliability have 5 variables

Table 3.2 The Scale of reliability

Variable

REL1 ACB is always ontime with you

Edited from the scale of (Parasuraman, A., Zeithaml, V A., & Berry, L, 1988)

REL2 ACB always solve all problems when

you meet in the PO

REL3 ACB is always punctual with you

REL4 ACB carries out the mission in service

as initially introduced

REL5 ACB avoids errors when transferring

payments from customers

(Source: Synthesized by author)

The scale of responsiveness have 4 variables

Table 3.3 The Scale of responsiveness

Variable