Banking Digitalization, Customer Relationships, and Financial Inclusion: An Empirical Analysis Using Structural Equation Modeling

Abstract

This study examines the determinants of digital banking adoption and its effects on customer relationships and financial inclusion in Morocco. An integrated model linking perceived usefulness, ease of use, trust, service quality, satisfaction, loyalty, and financial inclusion was tested on 300 digital banking users using Structural Equation Modeling (SEM). The model shows a satisfactory fit (χ²/df = 2.31; CFI = 0.94; TLI = 0.93; RMSEA = 0.058; SRMR = 0.045). Adoption is driven mainly by perceived usefulness (β = 0.52, p < 0.001), trust (β = 0.34, p < 0.001), and ease of use (β = 0.29, p < 0.01), and improves service quality, satisfaction, and loyalty, the satisfaction–loyalty link being the strongest relational path (β = 0.67, p < 0.001). By contrast, the effect of adoption on financial inclusion remains moderate (β = 0.22, p < 0.05). The originality of the study lies in validating, within a single structural model, an integrated framework that jointly links technology acceptance, relational outcomes, and financial inclusion, dimensions usually studied separately. Its main contribution is to show that the relational mechanisms making digital banking effective do not mechanically translate into inclusion, reframing inclusion as a structurally conditioned rather than purely technological outcome. The findings offer practical implications for banks, regulators, and policymakers.

Classification JEL : G21 ; O33 ; D14 ; G53

Paper type: Empirical Research