Financial Technology and Employee Satisfaction of Deposit Money Banks in Southwest Nigeria
Currently, the provision of services in both the banking sector, specifically, and the broader financial services sector relies heavily on technology. Consequently, this investigation focused on effect of financial technology on the employee satisfaction of deposit money banks in Southwest, Nigeria. The study employed a survey research design. The descriptive statistics that include the current level of employee satisfaction of deposit money bank showed that the deployment of automated teller machine and point of sales increases workers’ satisfaction in the banking sector. The empirical results showed that the deployment of automated teller machine, and point of sales have significantly and positively improves employee remuneration, salary, ease of job and Promotion merits of workers in the banking sector. Specifically, in the payment of commensurate salary for bank workers, remuneration improved by 0.20% for a 1% increase in the operation and deployment of automated teller machine while a 1% increase in the deployment of point of sales engendered 0.29% increase in the improvement of good salary commensurate with the banking jobs. The study concludes that the deployment of point of sales indicated the most effective financial services that improve employees’ satisfaction through improvement in the payment of good salary that is commensurate with job requirement and risks associated therewith. Thus, the study recommends that, the deployment of alternative banking channel should be improved especially the point of sales that showed effectiveness across various proxy for employee satisfaction in the Nigeria banking. Keywords: Automated Teller Machine, Point of Sales. Employee Satisfaction