The aim of digitalization of banks is providing broad benefits to their customers. Technology based innovations will be the important determinant in offering customized and diversified banking services to their varied customers, at a reduced cost. Innovation is an important variable in the banking sector but it has received less attention from scholars in Cameroon. The purpose of this study is to examine the effect of banking innovation on customer satisfaction and the mediating role of financial literacy in the relationship between banking innovation and customer’s satisfaction in Cameroon. The study is based on the positivism epistemology and the ontology of objectivism. The study adopted a crosssectional research design and quantitative method. Data was collected using questionnaire. A total of 387 responses were collected and analyzed using SPSS and AMOS. The findings show that banking innovation positively affected customer satisfaction in Cameroon and financial literacy mediated the relationship between banking innovation and customer satisfaction. Based on these findings, we therefore recommend that decision makers in the Cameroonian banking industry should increase the level of innovation in order to improve customer satisfaction and also to promote education and enhance financial literacy.
Published Date: 2025-02-19; Received Date: 2024-10-07
