Study customer satisfaction with the quality of e banking service of joint stock commercial bank for foreign trade of vietnam

ĐẠI HỌC QUỐC GIA HÀ NỘI
KHOA QUẢN TRỊ VÀ KINH DOANH
---------------------

NGUYỄN VŨ HẢI

STUDY CUSTOMER SATISFACTIONWITH THE QUALITY OF
E-BANKING SERVICES AT JOINT STOCK COMMERCIAL BANK
FOR FOREIGN TRADE OF VIET NAM

NGHIÊN CỨU SỰ HÀI LÒNG CỦA KHÁCH HÀNG ĐỐI VỚI
DỊCH VỤ NGÂN HÀNG ĐIỆN TỬ CỦA NGÂN HÀNG
THƯƠNG MẠI CỔ PHẦN NGOẠI THƯƠNG VIỆT NAM

LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH

HÀ NỘI - 2018


ĐẠI HỌC QUỐC GIA HÀ NỘI
KHOA QUẢN TRỊ VÀ KINH DOANH
---------------------

NGUYỄN VŨ HẢI

STUDY CUSTOMER SATISFACTIONWITH THE QUALITY OF
E-BANKING SERVICES AT JOINT STOCK COMMERCIAL BANK
FOR FOREIGN TRADE OF VIET NAM

NGHIÊN CỨU SỰ HÀI LÒNG CỦA KHÁCH HÀNG ĐỐI VỚI
DỊCH VỤ NGÂN HÀNG ĐIỆN TỬ CỦA NGÂN HÀNG

THƯƠNG MẠI CỔ PHẦN NGOẠI THƯƠNG VIỆT NAM
Chuyên ngành: Quản trị kinh doanh
Mã số: 60 34 01 02
LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH

NGƯỜI HƯỚNG DẪN KHOA HỌC: TS. BÙI QUANG HƯNG

Hà Nội - 2018


DECLARATION
The author confirms that the research outcome in the thesis is the result of
author’s independent work during study and research period and it is not yet published in
other’s research and article.
The other’s research result and documentation (extraction, table, figure,
formula,and other document) used in the thesis are cited properly and the permission (if
required) is given.
The author is responsible in front of the Thesis Assessment Committee, Hanoi
School of Business and Management, and the laws for above-mentioned declaration.

Date: Dec, 20, 2017


ACKNOWLEDGEMENT
I have gained huge knowledge, skill and insights from my MBA course. The course
raises my capacity of administration and management up to the next level. I am now very
confident in my position of management. I would like to extend my sincerest thanks and
appreciation to all those who have made this Thesis to be possible.
I woud like to express my great gratitude to my supervisor Phd. Bui Quang
Hungfor him useful comments, remarks and engagement during my process of doing this

master thesis. Also, I would like to give my sincere thanks tocustomers of internet banking
service quality at Vietcombank, in my survey, who have willingly spent their precious time
joining the interview.
Sincere thanks are extended to the Hanoi School of Business and Management Vietnam National University, Hanoi for equipping me with huge knowledge and skills
through various interesting and practical subjects. I also would like to thanks my
classmates for their friendship and reciprocal encouragement to make our class time to be
unforgettable time


STUDY CUSTOMER SATISFACTIONWITH THE QUALITY OF EBANKING SERVICES AT JOINT STOCK COMMERCIAL BANK FOR
FOREIGN TRADE OF VIET NAM

1. Summary of the results
Research overview on service quality and customer satisfaction, the relationship
between service quality and satisfaction with e-banking services.
Analysis of the actual situation of providing electronic banking services at
Joint Stock Commercial Bank for Foreign Trade of Vietnam. Analysis of customer survey
results using services on service quality and satisfaction with the quality of e- banking
services through the elements of empathy, tangible means, responsiveness, assurance,
reliability, price, service satisfaction.
Propose solutions and recommendations on each factor to improve customer
satisfaction with e-banking services of Vietcombank.
2. Applicability in practice
The results of this research has high practical significance, as research on ebanking services is an urgent and timely issue for the banking industry and the quality of ebanking services is the issue that banks care about. Therefore, the results of the thesis will
contribute to the clarification of the role of quality of service with customer satisfaction,
thereby helping banks to improve the quality of service effectively.


TABLE OF CONTENTS
TABLE OF CONTENTS ..................................................................................................... i

LIST OF TABLES ................................................................................................................ i
LIST OF FIGURES AND CHARTS.................................................................................. ii
INTRODUCTION................................................................................................................ 1
CHAPTER 1: RATIONALE AND RESEARCH MODEL ........................................... 12
1.1 General overview about Electronic-banking and Electronic-banking services .. 12
1.1.1 Basic concepts ....................................................................................... 12
1.1.2 Benefits of E-banking services .............................................................. 13
1.1.3 E-banking services ................................................................................ 16
1.1.4 The necessity of improving customer satisfaction with e-banking
services at commercial banks ......................................................................... 18
1.2 Customer satisfaction with E-banking ................................................................ 19
1.2.1 Concept of customer satisfaction with E-banking................................. 19
1.2.2 Research model on customer satisfaction with E-banking service. ...... 20
1.2.3 Results of qualitative research and research model of the thesis ......... 25
1.4 Experience lessons on improving customer satisfaction with E-banking services
of the banks ............................................................................................................... 27
1.4.1 Experience lessons of some banks in the worlds ................................... 27
1.4.2 Experience lessons of some commercial banks in Vietnam .................. 29
1.4.3 Experiences for commercial joint stock commercial banks in Vietnam30
CHAPTER 2: ASSESS CUSTOMER SATISFACTION WITH THE QUALITY OF
E-BANKING SERVICES AT JOINT STOCK COMMERCIAL BANK FOR
FOREIGN TRADE OF VIETNAM ................................................................................. 32
2.1 Overview of Joint Stock Commercial Bank for Foreign Trade of Vietnam ....... 32
2.1.1 The process of establishment and development ............................................... 32
2.1.2 Functions and rights.............................................................................. 33
2.1.3 Organizational structure and duties of departments ............................ 34


2.1.4 Results of production and business activities........................................ 34
2.2 The actual situation of providing e-banking services at Joint Stock Commercial

Bank for Foreign Trade of Vietnam .......................................................................... 39
2.2.1. Structure and scale of e-banking services ............................................ 39
2.2.2. Products of e-banking services ............................................................ 40
2.2.3 Number of customers using e-banking services .................................... 41
2.2.4 Prices of e-banking services .................................................................. 43
2.3 Customer survey results on e-banking services of Joint Stock Commercial Bank
for Foreign Trade of Vietnam ................................................................................... 45
2.3.1 Information on the sample .................................................................... 45
2.3.2 Assess the reliability scale .................................................................... 48
2.3.3 Linear regression analysis .................................................................... 52
2.3.3.1 Test correlation coefficient matrix ..................................................... 52
2.3.4 Differences in Customer Satisfaction among individual characteristics58
2.3.5 Customer evaluation of the factors in the model .................................. 60
2.4 General conclusion .............................................................................................. 67
2.4.1 Advantages ............................................................................................ 67
2.4.2 Limitations and reason for limitations .................................................. 68
CHAPTER

3:

PROPOSE

SOLUTIONS

TO

IMPROVE

CUSTOMER

SATISFACTION WITH THE QUALITY OF E-BANKING SERVICES AT JOINT
STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIET NAM ............. 70
3.1 Summary of the research ..................................................................................... 70
3.2 Solutions to improve customer satisfaction with the quality of e-banking
services at Joint Stock Commercial Bank for Foreign Trade of Viet Nam .............. 70
3.2.1 Solutions to enhance empathy ............................................................... 70
3.2.2 Solutions to enhance tangibles .............................................................. 71
3.2.3 Solution to the responsiveness .............................................................. 72
3.2.4 Solutions to the assurance ..................................................................... 73
3.2.5 Solutions to the reliability ..................................................................... 73


3.2.6 Solutions to the price ............................................................................. 74
CONCLUSION, LIMITATION AND CONTRIBUTION OF RESEARCH ............... 76
APPENDIX......................................................................................................................... 80
Appendix 01: SURVEY FORMS E-BANKING ...................................................... 80
Appendix 02: Results of survey data analysis .......................................................... 84


LIST OF TABLES

Table 2.1: Structure and scale of e-banking services at Vietcombank............................ 39
Table 2.2: Types of e-banking products............................................................................ 40
Table 2.3: Number of customers using types of e-banking services............................... 42
Table 2.4: Prices of some types of e-banking services .................................................... 43
Bảng 2.9 : Results of the reliability test of the scale ........................................................ 48
Table 2.10 : Rotation matrix of independent variables .................................................... 50
Table 2.11: Results of EFA for dependent variables ....................................................... 51
Table 2.12 Person correlation matrix of factors ............................................................... 52
Table 2.13: Summary of regression model ....................................................................... 53

Table 2.14: Results of testing the suitabilityof regression model (Anova) ..................... 53
Table 2.15: Results of regression analysis ........................................................................ 54
Table 2.16: Synthetization of the results of testing research hypothesis ........................ 55
Table 2.17: Speaman correlation matrix ........................................................................... 58
Table 2.18: Differences in Customer Satisfaction among individual characteristics .... 58
Table 2.19: Evaluation of empathy ................................................................................... 60
Table 2.20: Evaluation of Tangible Vehicles ................................................................... 61
Table 2.21: Evaluation of Responsiveness ....................................................................... 63
Table 2.22: Evaluation of assurance.................................................................................. 64
Table 2.23: Evaluation of trust .......................................................................................... 65
Table 2.24: Evaluation of price factor ............................................................................... 66
Table 2.25 : Evaluation of customer satisfaction ............................................................. 67

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LIST OF FIGURES AND CHARTS

Figure 1.1: Model of the author Diana Marija Taraškevičiūtė .............................................21
Figure 1.2: Research model of the author Vijay M. Kumbhar (2011) .................................23
Figure 1.3: Research model of the author Vu Dinh Y Yen Van (2011) ..............................24
Figure 1.4: Model of the author Nimako et al (2013) ...........................................................25
Figure 1.5: Proposed model of the author ..............................................................................26
Chart 2.1: Results of capital mobilization at VCB in the period of 2014-2016 ..................34
Chart 2.2: Total outstanding of VCB in the period of 2014-2016 .......................................36
Chart 2.3 VCB’s revenue from services in the period of 2014-2016...................................37
Chart 2.4 General business activities of VCB in the period of 2014-2016 .........................38
Figure 2.1: The standard distribution of residuals .................................................................56
Graph 2.2: Distributed graph among residuals and standardized residuals .........................57

ii


INTRODUCTION

1. Problem based learning
Vietnam integrates into The World Trade Organization (WTO) with the
commitment of the banking-sector opening in 2012, creating great opportunities as well as
challenges for the system of commercial banks in Vietnam. The participation of
international financial institutions will put highly competitive pressure even on domestic
market in Vietnam. This enforces the banks to more diversify and develop their services
and activities in order to meet the economy development and increasingly integrate with
the development of the banking sector in the region and in the world.
By applying achievements of the science and modern technology, the mode of
providing products and services via electronic channels of distribution, which is also
referred to as the term "electronic commerce" has been formed and quickly developed.
Having adapted to strong development of the internet and electronic means in recent years,
the banks in Vietnam have also developed electronic banking services in addition to
traditional banking services. Therefore, customers can completely make their transactions
in a convenient way via electronic banking services without waste of time and costs as
making direct transaction at transaction offices. However, internet banking is still a new
type of transaction without the completion of technology level as well as practical
experience. Although electronic banking service in Vietnam has made remarkable
achievements but the development does not still match with its potential. Although the
banks spend much costs on being consulted and technical supported, the technical
complexity and fierce competition environment makes the development of electronic
banking service become difficult and risky.
Being one of the leading banks in Vietnam, Joint Stock Commercial Bank for
Foreign Trade of Vietnam not only pays attention to improve the traditional commercial
banking business but also develops electronic banking business to catch up with the

development of society and country in the period of industrialization and modernization.
Joint Stock Commercial Bank for Foreign Trade of Vietnam makes their effort to renew
and apply technology into electronic channels of transaction in order to improve service
quality, meet the maximum demand of customers and reduce number of direct transactions,

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improve the revenue for the bank. However, the electronic banking service is still one of
the new banking services. Besides some objective reasons such as the development of
information technology and the competition among commercial banks, one of the most
important reasons is the customer satisfaction to the electronic banking service. According
to the real research, the customer satisfaction to the Vietcombank electronic banking
service is not really high.
Although Vietcombank always try to provide customers with the best services, it is
not easy for any bank. To become successful, the banks must have satisfactory answer for
the question: Whether customers are really satisfactory with banking service in general and
electronic banking services in particular or not? Because of this reason, the author choose
the research project: “Study customer satisfactionwith the quality of e-banking services
at joint stock commercial bank for foreign trade of Viet Nam”

2. Overview of the research
There are a lot of researches indicating the relation between service quality and
customer satisfaction. Previous researches prove that service quality has direct and
significant impact on satisfaction (Caruana et al, 2000; Baker and Crompton, 2000). In
addition, there are many researches on this relation in different sectors such as tourism,
hospital (Johns, 1993), high-quality education (Ford et al. 1993; McElwee and Redman,
1993), etc.... In the banking sector, the research on customer satisfaction towards banking
service in general and electronic banking service in particular becomes to be paid attention
by most of domestic banks and banks in the world.Over a long time, there have been many

researches related to service quality and customer satisfaction.
When researching the relation between service quality and customer satisfaction,
we must mention the research of Parasuaraman and ctg (1988). In their research, the
authors propose SERVQUAL - the model to assess service quality. The model includes
five dimensions of service quality and they consider that service quality is the function of
the fifth dimension. This fifth dimension depends on the former ones, which mean first,
second, third, fourth dimensions. Therefore, to shorten the fifth dimension and improve
service quality, service administrators must make their effort to shorten this dimension.
Their research is the premise for the later researches on service quality. The research of
Parasuraman et al has provided an extremely valuable and thorough look about service

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quality measurement. Because the research of Parasuaraman is highly aggregate and
applies customer satisfaction measurement in most of services, many researches inherit and
develop based on the research of Parasuaraman and ctg (1988) to measure customer
satisfaction towards service quality.
The author Diana Marija Taraškevičiūtė (2014) carries out the research on
customer satisfaction towards electronic banking service in Swedbank. For this research,
the author interviews 384 customers using electronic banking service of Swedbank with
total 45 questions. After testing and analyzing data, the author concludes that the factors
affecting customer satisfaction towards electronic banking service include: accessibility,
Web design, content, convenience, security, flexibility, responsiveness and price. Research
model of the author Diana Marija Taraškevičiūtė (2014) is relatively complete and matches
with electronic banking sector. However, because the environment of banking sector is
different in each country, there are many offered solutions being inconsistent with
commercial banks in Vietnam.
The author Vijay Kumbhar M. (2011) has studied customer satisfaction towards
electronic banking service at some commercial banks in India. By inheriting the research

model of service quality of Parasuaraman & ctg (1988) and some previous researches, the
author has formed research model to measure satisfaction of customers using electronic
banking service at commercial banks in India. The research results indicate that there are
10 factors affecting customer satisfaction: the availability of system, accuracy, efficiency,
security, responsiveness, ease of use, convenience, price of service, complaint settlement,
communication, perceived value. The research model formed by the author has make large
contribution in electronic banking sector at the banks in India and many factors can be
applied to measure customer satisfaction in electronic banking system in Vietnam.
However, because the business environment is different and the characteristics as well as
the habit in using online banking of customers are different between Vietnam and India,
there are many factors which are not consistent to be applied for the researches in Vietnam.
- The research of the authors Nguyen Ngoc Chau et al (2011) on "the quality of
online banking service and customer satisfaction. To carry out the research, the authors
base on the research result of Jun and Cai (2001) and propose the research model with the
factors: the quality of online customer service, the quality of online information system and

3


the quality of banking products and services. The research of the authors Nguyen Ngoc
Chau et al (2011) on "the quality of online banking service and customer satisfaction".
Meanwhile, the hypotheses are offered by the authors, including: H1 the quality of online
customer service has a positive impact on the quality of online banking service. H2: The
quality of online information system has positive impact on the quality of online banking
service, H3: The quality of banking services and products has positive impact on the
quality of online banking service, H4: The quality of online banking service has positive
impact on customer satisfaction. To verify these hypotheses, the authors deliver
questionnaires to 300 customers with the sample being big national bank in New Zealand
and its branches. The research of the authors has made major contributions in assessing
customer satisfaction towards online banking service. However, factors that the authors

study are not specific and clear.
- Research of the author “Vu Dinh Y Van (2011) on: Assess customer satisfaction
towards the quality of electronic banking service of Joint Stock Commercial Bank for
Foreign Trade of Vietnam via customer satisfaction”. By his own research, the author
specified the theoretical basis related to research project, including: service quality,
electronic banking, customer satisfaction, etc ... In addition, the author applied
SERVQUAL - research model of service quality of Parasuraman & ctg (1988) to measure
customer satisfaction towards the quality of e-banking service at Vietinbank. However,
because the author just studied SERVQUAL model, the accuracy of factor is not high and
the factors did not really match with specific characteristics of e-banking service.
Thus, after studying previous researches, the author realizes that most of researches
achieve their own successes, in particular, every author built the research model for their
own project. However, there are certain limitations in each research. Therefore, on the
basis of inheriting the success and overcoming limitations of the previous researches,
thanks to his own research project, the author will complete the assessment of customer
satisfaction towards e-banking service at commercial banks in general and Joint Stock
Commercial Bank for Foreign Trade of Vietnam in particular.

4


3. The objectives of the research
3.1 General objectives
Assess customer satisfaction towards electronic banking service of Joint Stock
Commercial Bank for Foreign Trade of Vietnam and propose solutions to improve the
quality of electronic banking service of Joint Stock Commercial Bank for Foreign Trade of
Vietnam.

3.2 Specific objectives
- Systematize basic theoretical issues about customer satisfaction and electronic

banking service at commercial banks.
- Analyze actual situation of electronic banking service at Joint Stock Commercial
Bank for Foreign Trade of Vietnam.
- Study customer satisfaction towards the quality of electronic banking service at
Joint Stock Commercial Bank for Foreign Trade of Vietnam.
- Propose solutions and recommendations to improve customer satisfaction
towards the quality of electronic banking service at Joint Stock Commercial Bank for
Foreign Trade of Vietnam.

4. Research objects
- Actual situation of electronic banking service of Joint Stock Commercial Bank
for Foreign Trade of Vietnam
- Satisfaction of customer using electronic banking service of Joint Stock
Commercial Bank for Foreign Trade of Vietnam.

5. Scope of the research
About space: The research is carried out at branches and headquarters of Joint
Stock Commercial Bank for Foreign Trade of Vietnam,
About time:
+ Secondary data: Secondary data is collected from 2013 to 2015
+ Primary data: Primary data is collected from August to September of 2016

5


6. Research methods
The thesis uses the research methods as follows:
+ Comparative method: This method is used to analyze the change in e-banking
services at Joint Stock Commercial Bank for Foreign Trade of Vietnam in the period of
2013 - 2015: the number of services, revenue from services, number of customers using

services, sponsor expense. It presents the actual situation of the development of e-banking
services at Joint Stock Commercial Bank for Foreign Trade of Vietnam.
+ Qualitative method: This method is used to determine the factors having
influence on satisfaction of customers using e-banking services of Joint Stock Commercial
Bank for Foreign Trade of Vietnam. Qualitative method is carried out by interviewing
experts: Board of Directors and experienced staffs in the field of E-banking at Joint Stock
Commercial Bank for Foreign Trade of Vietnam.
+ Quantitative method: This method is used to measure customer satisfaction with
E-banking services at Joint Stock Commercial Bank for Foreign Trade of Vietnam. In
order to carry out quantitative research, the author interviews customers at branches of
Joint Stock Commercial Bank for Foreign Trade of Vietnam.
To carry out quantitative research, the author has taken steps of the contents as
follows:

-

Sample design:
About sample size, according toTabachnick & Fidell, for the best regression

analysis, sample size has to ensure the formula: n ≥ 8m + 50 (n is sample size, m is the
number of independent variables in the model); Meanwhile, according to Harris RJ.
Aprimer (1985): n ≥ 104 + m (m is the number of independent and dependent variables),
or n ≥ 50 + m, if m <5.
In case of usingexploratory factor analysis EFA, Hair & ctg (1998) considers that
the sample size is at least 50, if 100 are better and the rate of observed variables /
measured variables is 5/1. It means that each measured variable needs at least observed
variables.According to Gorsuch (1983), in case of regression analysis, sample size
requires at least 200 observed variables. According to the experiences, it is better if

6

sample size is larger.
In this research, the research model includes six independent variables, one
dependent variable and 32 observed variables.Thus, according to Tabachnick and Fidell
(1991), the sample size is n ≥ 98; According to Harris RJ. Aprimer (1985) n ≥ 111,
according to Hair and ctg (1998) n ≥ 160 (32x5). However, this research also tests the
difference about the satisfaction of customers using e-banking services based on their
specific characteristics (gender, age, educational background, occupation). Therefore, the
author chooses the sample size of 300 to ensure the well-formed and complete number of
samples with different characteristics in terms of level, occupation and age.About the
method of selecting research samples, the author selects convenient samples that are 18
year old customers or older who frequently use e-banking services of the bank based on
the customer list.

6.1 Collect information of research samples
Information of research samples is collected thanks to interviewing technique
using questionnaire with customers who use e-banking services
The results of the interviews are achieved, after being cleaned (remove
questionnaires which lack of information, have more than one answer, are determined to
be unreliable), they are entered into SPSS data matrix 20.0.

6.2 Data analysis method
The process of research analysis is carried out through the periods as follows:

 Assess the reliability of the scale
The assessment of reliability of the scale is carried out by using Cronbach's Alpha
reliability coefficient and EFA through SPSS 20.0 software to select and remove observed
variables which do not meet the reliability (garbage items). Among them:
Cronbach's Alpha is a statistical test about the close level (the ability to explain for

a research concept) of a group of observable variables through Cronbach's Alpha
coefficient. According to many researchers (Nunally, 1978; Peterson, 1994; Slater, 1995),
it can be accepted if Cronbach's Alpha coefficient is 0.6 or more in case the concept is
new or new to the respondents in the context of research.

7


However, according to Nunnally and ctg (1994), Cronbach's Alpha coefficient
does not indicate which variables should be removed and which variables should be
retained. Therefore, in addition to Cronbach's Alpha coefficient, correlation coefficient
(item-total correlation) is also used and the variables with item-total correlation <0.3 will
be removed.
EFA is commonly used to assess the value of the scale (uni-directionality,
Convergent validity, and discriminant validity) or reduce a group of variables.In this
research, factor analysis is applied to gather observed variables into a certain factor to
measure the attributes of the research concepts. Applied standards and variable selection
for EFA include:
Bartlett standard and KMO coefficient are used to evaluate the suitability of EFA.
Accordingly, the hypothesis H0 (variables are not correlated in the total) is removed and
therefore EFA is appropriate if 0.5 ≤ KMO ≤ 1 and Sig <0.05. In case of KMO <0.5,
factor analysis may not be appropriate to data (Hoang Trong and Chu Nguyen Mong
Ngoc, 2005, p. 262).
Eigenvalue index (represent the variance explained by the factors) and cumulative
index (Total Variance Explained shows that how many percentages the factors can explain
and how many percentages are lost). According to Gerbing and Anderson (1988), factors
with Eigenvalue <1 do not summarize information better than original variables (latent
variables in the scale before EFA). Therefore, factors are only extracted at Eigenvalue> 1
and accepted when Total Variance Explained is ≥ 50%.
In this research, after EFA, there is multiple regression analysis. Therefore, during

process of Cronbach's Alpha, the author will keep the scales with Cronbach's Alpha ≥ 0.6
and remove the variables with item-total correlation <0.3. During process of EFA, the
author uses Principal component method with Varimax rotation; removes observed
variables with Factor loading ≤ 0.5 or extracts other factors with the difference in Factor
loading among factors ≤ 0.3.

 Multiple linear regression analysis
The linear regression analysis is carried out through the steps as follows:

8


Step 1: Check the correlation among independent variables and the
correlation between dependent variables and independent variables
through correlation matrix.
Accordingly, the condition for regression analysis is required to have correlation
among independent variables and correlation between dependent variables and
independent variables. However, according to John and Benet - Martinez (2000), when the
correlation coefficient is <0.85, it is possible to ensure the differential value among
variables. It means that if the correlation coefficient is > 0.85, the role of independent
variables should be considered because the multi-collinearity can occur (one independent
variable is explained by another).

Step 2: Build and test the regression model
Y=β1X1+β2X2+β3X3+β4X4+...+βkXk
This is carried out through the steps as follows:

Select the variables for regression model (the author uses Enter SPSS method
to process all variables at the same time).
Evaluate the suitability of the model by the coefficient of determination R2

(R Square). However, R2 will increase when more independent variables are
involved in model. Although the more the model does not have independent
variables, the more suitable it is with the data.Thus, Adjusted R Square
doesn’t depend on the number of variables added to the model, which are
used to place R2 to assess the suitability of multiple regression model.
Test the suitability of model to select the best model by using the ANOVA
method to test the hypothesis H0: (no linear relationship between dependent
variables with group of independent variables β1 = β2 = β3 = .. = βk = 0).
If statistic value F is very small (<0.05), hypothesis H0 is removed. We
conclude that group of independent variables in the model can explain the
variation of dependent variables. This means that the model is built in
accordance with the data, so it can be used.

9


Determine the coefficients of the regression equation, they are regression
coefficients βk, measuring the average change of dependent variables when
independent variable Xk changes one unit while other independent variables
are unchanged. However, the magnitude of βk depends on the measurement
unit of independent variables, so it is not meaningful to compare them
directly. Therefore,in order to compare the regression coefficients and
determine the importance (explanation level) of independent variables to
dependent variables, the measurements of all independent variables are shown
by measurement unit of betadeviation.

Step 3: Check the violations of regression assumptions
The regression model is considered to match with the total research if it does not
violate assumptions. Therefore, after building the regression equation, the necessary
violations of assumptions should be checked as follows:

There are linear relationship between independent variables and dependent
variables.
The residue of the dependent variable has a standard distribution.
The variance of deviation is constant
There is no correlation between residuals (independence of errors).
There is no correlation among independent variables (no multicollinearity)
Among them:

The tool for testing the linear relationship hypothesis is the scatter graph
showing the correlation between the standardized residual value and the
standardized pretest value. .
The tool to test the hypothesis of a dependent variable with a constant
variance is the scatter plot of the residual and the predicted or measured value
of Spearman's Rho.
The tool used to test the hypothesis is that there is no correlation between
the residuals as Durbin - Watson, or the scatter graph.

10


The tool used to determine the existence of multi-collinearity is the tolerance
or variance inflation factor (VIF).According to Hoang Trong and Chu
Nguyen Mong Ngoc (2005, pages no. 217, 218), general principle VIF> 10 is
a multi-collinear; Meanwhile, according to Nguyen Dinh Tho and Nguyen
Thi Mai Trang (2011, p. 497), if VIF> 2, it may occur multi-collinearity.
 Test the difference of customer satisfaction when shopping at Imart
supermarket chain according to the specific characteristics of
customers
The used tool is the Independent - Sample T - Test, Anova, Kruskal - Wallis test,

among them:
The Independent - Sample T-Test is used in the case that demographic - social
factors has two attributes (for example, gender includes male and female), thus divide the
total samples into different groups.

Anova is used in case of demographic–social factors with three attributes or
more. Therefore, we divide total research samples into three different groups
or more (for example, permanent residence includes: urban, rural, and remote
areas). The condition for processing Anova is that the comparative groups
must be independent and selected randomly. Comparative groups must have
normal distribution or enough large sample size to approach normal
distribution; Variance of comparative groups should be uniform.
7. Structure of the thesis
Besides the introduction and the beginning, the research contains there chapters:
Chapter 1: The rationale for e-banking and customer satisfaction for e-banking
services.
Chapter 2: The real situation of e-banking services and customer satisfaction for ebanking services in joint-stock commercial banks Foreign Trade of Vietnam.
Chapter 3: Solutions to enhance customer satisfaction for e-banking services in
joint-stock commercial banks Foreign Trade of Vietnam.

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CHAPTER 1: RATIONALE AND RESEARCH MODEL
1.1 General overview about Electronic-banking and Electronic-banking
services
1.1.1 Basic concepts
* Concepts of banks and commercial banks
Bank is one of the most important financial organizations of the economy. There is
a wide range of banks depending on the economy development in general and the financial

system in particular, in which commercial banks account for the largest proportion of scale
and assets, market shares and quantity. Bank is the organization that attracts the savings
most in the economy. Millions of individuals, households, enterprises and socio-economic
organizations send money to the banks. The banks play a role as the payment center of the
whole society and intermediary institutions between idle fund owner and those who lack of
capital.
Banks are financial institutions that provide the most various financial services,
especially credit, savings, payment services with the most multi-function services in
comparison with any business organization in the economy.
Commercial bank is a form of credit institutions that performs all banking activities
and other related activities.
There are main activities of commercial banks as follows:
+ Capital mobilization
+ Loans
+ Service trading
* Banking services
Service is a common concept in marketing and business. It is a "special product"
which has many characteristics being different from other goods such as “intangible”,
“heterogeneous”, “inseparable”, “un-stored”. Therefore, from past to now, there is no
complete definition of services.

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According to Zeithaml & Britner (2000), services include all behaviors, processes,
manners of doing a job in order to create values for customers to satisfy their needs and
expectations.
According to Kotler & Armstrong (2004), services includes all activities or benefits
that enterprises can offer their customers in order to build, strengthen and expand longterm relationships and partnerships with their customers.
* Electronic banking services

E-banking is explained as the customer’s ability to access a bank from a remote
area for: collecting information, making payments and financial transactions by their
deposit at that bank, registering for new services (Truong Duc Bao, 2003).
E-banking services mean computer software system that allows customers to learn
or buy banking services by connecting their computers to the bank.
Above concepts define e-banking by providing services or electronic distribution
channels. This concept may be true at some periods but it is not possible to generalize the
development history and the future of e-banking. The most general definition of electronic
banking can be expressed as follows: "Electronic banking includes all types of transactions
between banks and customers (individuals or organizations) based on the process and
digitized data transferring to provide banking products and services "(Huynh Thi Nhu
Tran, 2007).

1.1.2 Benefits of E-banking services
* For customers
E-banking provides customers with the benefits as follows:
- The biggest advantage of e-banking services for customers is the convenience and
readiness. Customers might make transactions for 24 hours a day without going to the
bank. It is quite convenient and saves time for customers. Now, they can access E-banking
only by sending an message, making a phone or accessing internet for transactions,
inquiries, service payments, etc… at anytime and anywhere instead of going to the banks.

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It is a prominent advantage of E-banking. For examples, only by sending massages,
customers can top up for their mobile phones without buying pre-paid card as previous.
- E-banking services with modern technology help customers save time and reduce
costs. Customers can make transactions without going to the banks, therefore it saves
travelling cost for customers. For enterprises, it not only saves travelling cost at any time

of making transactions, invoice payments, etc… but also saves storage fees when paying
salary via bank accounts instead of cash. The staffs needn’t go to banks directly, they will
have more time to do other works. Moreover, the cost for using E-banking is very cheap.
- Access information quickly, especially account information. This plays a
significant role for the enterprises that own many different accounts. They can check the
balance of all accounts. In addition, customers are provided all hot news with enough
information such as: exchange rate fluctuations, inquiries of financial information of the
partners, etc …
- Manage money better because E-banking helps customers increase the money
circle and manage the cash in the business better.
- Moreover, with the standards, customers are served with dedication and accuracy
instead of depending on different attitudes of bank staffs.
* For banks:
- E-banking services help banks diversify the types of services, through new
services, new distribution channels, banks can extend their customer scope, develop market
share. Besides, the strong development of modern services will change the income
structure with orientation of decreasing income proportion from credit activities, which
contains a lot of high risks. This is the factor that ensures stable growth and development.
- The application and development of modern banking technologies will help banks
always renew, integrate and develop not only in domestic market but also in foreign
market. E-banking services will create better reputation, improve competitiveness for the
banks. The banks that offer these services are considered to be high-tech banks, therefore
they get higher prestige and meanwhile provide better feedbacks to the market changes.

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From that, they can carry out their global strategies and commercial promotions as well as
global brand advertising, etc…
- On the economic view, e-banking saves costs and increases profits, all costs

related to transaction activities, payments, counting fees, travelling costs. According to
Booz, Allen and Halmilton, cost for a transaction counter America is $ 1.07 in US dollars
while transaction via telephone is 54 cents, 27 cents for the ATM and 1.5 cent for Ebanking. By comparison and cost evaluation of payments by different forms, we can see
that payments via internet and ATM cost 12% and 5% in comparison with costs of making
payments at the banks, respectively. Not only save costs, E-banking helps banks increase
profit as well. If in the past, traditional banks mainly gain profit by the difference between
deposit interest rate and loan interest rate. Fee collection transaction accounts for a small
proportion, mostly from payment services. At modern banks, profit proportion from
lending interest rate is decreasing, proportion from fee collection transactions becomes
more increasing. For examples, the income from fee collection transactionsof Citigroup
exceeds the one from lending interest rate. Large banks in the world have similar income
structure with Citigroup. Accordingly, the income proportion from collection transaction
accounts for an increasing proportion and still keeps growing. Moreover, E-banking
services help banks extend their customer scope, develop market share, attract capital
mobilized from payment deposit of customers, leading to the increase in profit. Banks
don’t need open too many branches and transaction locations to serve customers.
- The efficiency of the capital use will be improved in the business sector of the
banks. Through the services of E-banking, payment orders and collection of customers will
be processed quickly, facilitating fast-moving and convenient money capital, well building
the transaction relation and exchange between money and goods. The number of complete
transactions will be increased because transaction staffs are also responsible for final step
of the transactions. It is to keep business account into banks’ system of accounting books
without entering the detailed information on the transaction screen. Therefore, the
circulation of goods and money is sped up and help the efficiency of capital use. This is the
advantage that transactions of traditional banks can’t reach high speed and accuracy in
comparison with E-banking. With multi-business model of modern banks, the capacity to
develop and provide services for many target customers and business sectors is very high.

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