An analysis of the inter-relationship between savings product usage and satisfaction using a SERVQUAL framework

  • B de Clercq
  • JMP Venter
  • CJ van Aardt
Keywords: financial services, satisfaction, SERVQUAL, marginal utility, savings


The article maintains that improved participation in the financial services industries seems to be dependent on satisfaction levels regarding financial services product usage. Empirical evidence shows that higher usage and higher satisfaction regarding basic savings products such as savings accounts, money market investments and fixed deposits, as well as wealth management products such as home loan accounts, vehicle finance, endowment policies, retirement annuity policies, collective investment schemes and other specific needs savings products go hand in hand. Financial advisors, financial regulators as well as financial product providers should understand their role and responsibilities towards savers or potential savers in South Africa to ensure satisfaction levels, which would result in an increase in the use of financial products and could potentially lead to improved savings rates for South Africa.

Key words: financial services, satisfaction, SERVQUAL, marginal utility, savings


Journal Identifiers

eISSN: 1998-8125
print ISSN: 1561-896X