Digital Marketing, Internet Banking and the Current Global Economy : United Bank for Africa

Abstract

The growth of digital marketing in the world today has been of tremendous effect and these effects have been both positive and negative. The objective of the research was to find out the impact of digital marketing on the current global economy and the case institution was United Bank for Africa.

United Bank for Africa is a pan African service institution. The bank has as purpose to be a role model for African businesses by creating superior value for their stakeholders. Founded in 1949, the bank is more of a digital nature and also concentrates more on internet banking. Moreover, the bank got an award for being the best digital bank in Africa which shows the bank’s involvement in digital means for carrying out banking services.

The purpose of this research was to explore the importance of digital marketing and also to find out the positive and negative impact of United Bank for Africa’s digital marketing, banking operations on the global economy. Furthermore, proposing possible ways that they can use to meet the needs or service clients and institutions that are more of traditional marketing, banking oriented.

Qualitative methods of research were used to gather information and local clients were interviewed mostly. The purpose for this was to find out whether even the active clients are comfortable with the bank’s digital services or they just relate with the bank digitally if they are not having a choice.

The level of satisfaction that current clients have in regard to the digitalisation of banking activities or transactions was assessed. The research sought to know how certain areas of digitalisation can be improved in order to completely satisfy current clients. Furthermore, the research also sought to know what needs to be done in order to service clients who are not completely satisfied with digitalisation of banking activities whether it is improved or not.