CUSTOMER ENGAGEMENT TOWARDS BANKING

PREFERENCES OF SELECTED CLIENTS IN TIAONG, QUEZON

A Research Paper

Presented to the Senior High School Department of

Recto Memorial National High School

Tiaong, Quezon

In a Partial Fulfilment

of the Requirements for the Subject

Practical Research 1

By:

Ciriaco, Julia Karen M.

Marikit, Kc M.

Mortel, Charlie John A.

Venerable, Mhiel Ashley A.

June 2023

i
 ACKNOWLEDGEMENT

First the researcher would like to thank the Almighty God for the far he has

brought us and his continuous guidance throughout our studies.

The researchers would like to extend their in most gratitude to all people who

had given their support and appreciation of this paper. The researchers would like to

send their gratitude especially to Mrs. Sarah Mae A. Linmark, their Practical Research 1

Teacher, who has always been there to teach the researchers in doing their study. The

researcher would also like to thank to our adviser Mr. Christial Paul D. Naïve and other

subject teahcers for considerations and understandings just to finish their study.

We also thank our parents for their unceasing encouragement and endless

support.

Last but not least, we would also like to extend our appreciation and gratitude to

the selected bank client here in Tiaong, Quezon, who participated in the interview and

inspire us.

-CIRIACO

-MARIKIT

-MORTEL

-VENERABLE

ii
 DEDICATION
First of all, we are grateful to The Almighty God for giving us this kind of

intelligences to complete this semester.

We are highly thankful to our subject teacher, Mrs. Sarah Mae A. Linmark, for her

active guidance and support throughout the completion of this research paper. Also, we

would like to thank our classmates for checking and advising our research paper.

We are also thankful to the selected bank client in Tiaong Quezon for answering

our questions relating to their experiences and to our research paper.

-CIRIACO

-MARIKIT

-MORTEL

-VENERABLE

iii
 TABLE OF CONTENTS

TITLE
PAGE .............................................................................................................i

ACKNOWLEDGEMENT .................................................................................... ii

DEDICATION ......................................................................................................
iii

TABLE OF CONTENTS ......................................................................................

iv

CHAPTER I: INTRODUCTION ...........................................................................................1

Background of the Study .................................................................................................4

Significance of the Study ..................................................................................................6

Scope and Delimitation of the Study .............................................................................8

Research Paradigm ...........................................................................................................9

Statement of the Problem ...............................................................................................10

Definition of Terms .........................................................................................................11

CHAPTER II ............................................................................................................................14

RELATED LITERATURES AND STUDIES

CHAPTER III ..........................................................................................................................26

RESEARCH METHODOLOGY

Research Design ..............................................................................................................26

Locale and Population ....................................................................................................26

iv
v
 Sampling Technique .......................................................................................................27

Research Instrument .......................................................................................................27

Data Gathering ................................................................................................................27

CHAPTER IV ..........................................................................................................................29

RESULTS AND DISCUSSION

CHAPTER V ............................................................................................................................82

SUMMARY, CONCLUSION AND RECOMMENDATION

Summary ..........................................................................................................................82

Summary of Findings .....................................................................................................83

Conclusions ......................................................................................................................87

Recommendations ...........................................................................................................89

BIBLIOGRAPHY ..................................................................................................................95

APPENDICES .........................................................................................................................92

LIST OF TABLES AND FIGURES

Figure 1 ...........................................................................................................................................9

Research Paradigm of the Customer Engagement towards Banking Preferences

Table 1.1 .......................................................................................................................................29

Digital bank that is most preferred by the respondents

Table 1.2 .......................................................................................................................................30

Traditional bank that is most preferred by the respondents

Table 2.1.A ...................................................................................................................................31

The respondents' perceptions of banking preferences in terms of usefulness among

digital bank users

Table 2.1.B ...................................................................................................................................35

The respondents' perceptions of banking preferences in terms of usefulness among

traditional bank users

Table 2.2.A ...................................................................................................................................38

The respondents' perceptions of banking preferences in terms of convenience among

digital bank users

Table 2.2.B ...................................................................................................................................42

The respondents' perceptions of banking preferences in terms of convenience among

traditional bank users

Table 2.3.A ...................................................................................................................................46

The respondents' perceptions of banking preferences in terms of security among digital

bank users

Table 2.3.B ...................................................................................................................................50

The respondents' perceptions of banking preferences in terms of security among

traditional bank users

Table 2.4.A ...................................................................................................................................53

The respondents' perceptions of banking preferences in terms of benefits among

traditional bank users

Table 2.4.B ...................................................................................................................................57

The respondents' perceptions of banking preferences in terms of benefits among

traditional bank users

Table 3.A ......................................................................................................................................60

The positive experiences of using digital banks

Table 3.B ......................................................................................................................................65

The positive experiences of using traditional banks

Table 4.A ......................................................................................................................................67

The negative experiences of using digital banks

Table 4.B ......................................................................................................................................71

The negative experiences of using traditional banks

Table 5.A ......................................................................................................................................74

The respondents' perceptions of what makes them prefer digital banks over traditional

banks

Table 5.B ......................................................................................................................................78

The respondents' perceptions of what makes them prefer traditional banks over digital

banks

LIST OF APPENDICES

Permission Letter to the Selected Bank Clients in Tiaong, Quezon ....................................92

Institution to Conduct the Study

Permission letter to the Parents or Guardian .........................................................................93

Survey Questionnaire....……………………………………………………………………….94
 CHAPTER I
THE PROBLEM AND ITS BACKGROUND
Introduction

One of the things individuals are accustomed to doing is keeping our money. They kept

their funds in bank accounts for security reasons and because the banks pay interest on

the money that is deposited there. Bank is a type of financial institution with permission

to accept deposits and concern loans. Financial services including wealth management,

currency exchange, and safe deposit boxes may also be offered by banks. As required by

the Tydings-McDuffie Act, the Filipino legislature passed a law establishing a central

bank, which led to the establishment of the bank in the Philippines in 1939. It needed

the president of the United States' approval because it was a monetary legislation (BSP,

n.d.). The first bank in the Philippines and all of Southeast Asia is called Bank of the

Philippine Islands. As a universal bank, BPI provides a variety of financial products and

services to both retail and business customers through its subsidiaries and affiliates. It

was established in 1851. The collection of household savings and their transformation

into directly productive investments are the primary responsibilities of the banking and

finance industry, which plays a crucial role in the Philippine economy. Philippines' top

10 banks are BDO Unibank Inc., Metropolitan Bank and Trust Company,

Bank of the Philippine Islands, Land Bank of the Philippines, Philippine National Bank,

Security Bank Corporation, China Banking Corporation, and Development Bank of the

Philippines, Union Bank of the Philippines, and Rizal Commercial Banking and

Corporation.
The bank offers a wide range of goods and services. The first is a savings account,

which a deposit account is held at a bank or other financial organization that offers
1
modest interest rates while protecting cash. Excellent for saving for short- or

mediumterm goals or for emergency savings. Unsecured personal loans are available to

bank customers. Debit Cards are cards issued in conjunction with checking or savings

accounts that provide ATM withdrawals and point-of-sale purchases that are later

subtracted from bank balances. ATM Cards are debit or credit cards associated with

checking or savings accounts that permit cash withdrawals and deposits at ATMs but

not point-of-sale transactions. Money can be transferred from one person to another

using wire transfers. Used frequently to send money abroad. Foreign currency exchange

is the process of changing one currency into another. Traveler's checks, which are less

frequently used today and are checks purchased with cash or drawn against an account

that become legitimate when filled out with the payee's name and signed by the owner.

Particularly in the Philippines, there are different types of banks, including universal,

commercial, thrift, rural, cooperative, and Islamic banks. The services that universal

banks are permitted to offer range from mutual funds and home loans to investment,

commercial, and development banking (United Way, n.d.).

Moreover, technology has a huge impact on every aspect of human life, especially the

improvement of Information and Communications Technology (ICT). By the

widespread adaptation of ATMs, Internet banking, digital banking, whole day services,

and the capacity to offer a wider range of goods and services, ICT enables banks to

provide outstanding client service. ICT helps banks increase the effectiveness and

efficiency of the services they provide to consumers, and it improves business

operations, executive decision-making, and teamwork, strengthening their competitive

positions in rising and fast changing economies (Matthew & Ibikunle, 2012). This allows

2
for the emergence of a variety of banking types, so it is essential to understand their

effectiveness as current or future bank clients.

The most important factor in having an efficient banking service is financial

service. Financial services include a variety of industries, including banking, investing,

and insurance. The researchers will be talking about the banking industry. The banking

industry's contribution to society or a corporation is to offer necessary security. It has

taken the shape of digital banking in the banking sector, which is currently taking the

place of the traditional banking process.

The entire island of Luzon will be placed under lockdown after Metro Manila,

and additional localized lockdowns are being considered by the government. The first

lockdown in the Philippines began on March 16, 2020, and was lifted in May 2020. A

year later, due to the rising number of new COVID-19 cases, the government put Metro

Manila, Bulacan, Cavite, Laguna, and Rizal under enhanced community quarantine

(ECQ), the strictest level of quarantine. Due to this disaster, it has a huge impact on

every industry, like the banking sector. Since individuals are still utilizing technology

while dealing with the COVID-19 pandemic, digital banks will become more significant

down the road. Along the bank of the Philippine Islands, a similar story is reported by

Wright (2020). According to Noel Santiago, chief digital officer, before the lockout,

branches handled 70% of client transactions while online transactions accounted for

30%. 90% of all transactions are now made digitally, reflecting a significant shift in this

field. As a result, the pandemic has caused a double increase in the number of

registered active users for digital services at BPI.

3
Background of the Study

The majority of the clients have always been accustomed to utilizing traditional

banks, however with the spread of COVID-19, digital banks have evolved. Yet, the

majority of people are unaware of digital bank. At the height of the CoronaVirus

pandemic last year, the survey found that 56% of Filipino respondents who used digital

banks preferred to transact with their banks online, while 29% chose to use mobile

banking applications, 12% used internet banking, 9% used e-mail, and 6% preferred

telephone or video channels (Business World, 2021). Due to the COVID-19 problem,

banks and their clients have been forced to prepare compensate for branch, office, and

call center closures by using digital tools and methods. Members of the committee

discussed some of the technological strategies banks are employing to address the

difficulties and new dangers brought on by the COVID-19 situation. Because of this, the

pandemic has offered the banking industry a chance to further accelerate the financial

services industry's digital transformation.

Since the main goal of this study is to know the reasons behind their bank

preferences, which are traditional banking and digital banking. There is a huge

difference between traditional and digital banking. Digital banking automates

traditional banking services. It refers to the digitization of all banking procedures and

the removal of the bank's physical location in favor of a continual online presence,

which eliminates the need for clients to go to a branch (Tavaga, 2021). The same banking

services that traditional banks offer are also offered by digital banks but digital bank has

no physical bank branches and all of your usual banking services are only available

through a smartphone or other smart device. Doing Business International states that

4
traditional banking refers to financial institutions with a physical location and a local

banking license. Conventional banks usually have physical premises, regional offices in

every country where they do business, own-branded ATMs, a significant workforce, in-

person or one-on-one customer service, and devoted account managers. Digital banks

can offer their services at greater interest rates because they have lower operating costs.

Digital banks can provide you more than 3% for your deposit accounts, in contrast to

traditional banks, which only offer 1-2%. With traditional banks, you must personally

send the check to the branch. You can deposit a check with digital banks by just

snapping a photo of it and sending it via their mobile app.

Additionally, there are other factors that influence customer preferences when

selecting a bank. Reliability, brand recognition, and economic aspects, such as interest

rates pain and fees and charges assessed, have all gained in significance as well. When

picking a bank, consideration should also be given to locational aspects including

convenience, additional services offered, and how close the bank is to one’s residence or

place of employment. (Ashok, 2019). Customers' bank engagement is examined to

ascertain the aspects that customers consider when selecting a bank based on its interest

rates, fees, convenience, and security. The researchers will be able to compare the

efficiency of traditional and digital banks with the help of bank customers' experiences.

This study conduct to know about the drawbacks and advantages of using this

type of bank. Based on the experiences and perspectives of bank customers in Tiaong,

Quezon, this study provides the reasons behind choosing traditional and digital banks.

Furthermore, this aims inform people that will assist every bank client and prospective

bank client in selecting where to deposit their money or make loans between digital and
5
traditional banks. In this age of digitization, it is important for every individual to

decide whether it is preferable to adopt technology or still the traditional way of living,

such as in a bank. By lowering transaction costs and serving as financial intermediaries,

banks also help the economy by connecting savers and borrowers. Banks play a crucial

part in the production of money in addition to significantly enhancing the safety and

ease of transactions.

Significance of the Study

This research is conducted with the aim of providing awareness and knowledge

regarding the difference between a digital bank and a traditional bank based on the

engagement of bank clients, research studies, and related sites. With the help of the

study’s findings, the researchers will be able to determine which is more effective

between digital and traditional banks in today’s era. Furthermore, the advantages and

disadvantages of this two bank. This research will benefit the following:

First is for the Bank Client, the findings will guide clients in choosing where to

deposit their money based on different factors such as security, usefulness, convenience,

benefits and other factors. The findings of this study will also serve as a guide for bank

customers who are unfamiliar with the differences between digital and traditional

banking. The experiences of clients in Tiaong, Quezon will also serve as inspiration if

they encounter challenges in using bank.

Second, for the Bank CEO (Chief Executive Officer) or owner of the bank, they

will assist in providing them with more information that they can include in their

bank’s business strategy to know how they will compete with each other during this

6
time of modernization. The result of the study will help them improve their bank’s

services to their customers.

Third, for the Learners, it will increase understanding among students of the

distinctions between a digital bank and a traditional bank. By offering information that

learners can learn from the experiences of clients in Tiaong, Quezon, this study seeks to

encourage learners as potential bank clients to save and deposit their money between

two banks that are more efficient.

Lastly, for the Future Researchers, the whole result of their perceptions or

experiences about this study will guide them, and some facts will serve as their related

study and literature.

Scope and Delimitations of the Study

The major objective of this study is to explore the reasons behind the banking

preferences of selected clients in Tiaong, Quezon in order to differentiate between

traditional and digital banks and determine which is more effective between the two.

Obtaining respondents’ answers are through interviews about this topic.

7
 The information and data collected by the researchers were restricted to the

responses given by 20 bank clients in selected Barangay of Tiaong, Quezon. The

responses are separated into two categories: 10 from traditional banks and 10 from

digital banks.

Digital banking is the main subject of this study because it differs significantly

from online banking in many ways. This study will provides insight in digital and

traditional bank as well as their respective effectiveness based on a variety of factors

because it is a much more recent topic that requires study attention. This is because

digital banking emerged during the pandemic. Therefore, it will only show the

experiences of selected clients in using digital banking and traditional banking.

8
Research Paradigm
Independent variable Dependent variable

Customer’s
Bank Preferences of
engagement in terms
client:
of:

Traditional bank Usefulness

Digital bank Convenience

Security

Benefits

This figure shows the the research's Independent and Dependent Variables. The

IV includes the client's digital and traditional banking preferences. At the same time, the

DV contains the customer's perceptions or experiences with their preferred bank, which

may be influenced by several elements like convenience, security, advantages, and

usefulness.

Based on the factors presented in the conceptual framework, it will demonstrate

potential effects or links between client experiences or perceptions and the preferred

bank.

9
Statement of the Problem

This study aims to determine the reasons of choosing between digital and traditional

banking through the experiences of selected clients in Tiaong, Quezon.

Specifically, the study seeks to answer the following questions:

1. What bank do the respondents prefer to use?

2. What is the perception of the respondents in banking preferences in terms of?

A. Digital bank
a. Usefulness
b. Convenience
c. Security
d. Benefits
B. Traditional bank
a. Usefulness
b. Convenience
c. Security
d. Benefits
3. What are the positive experiences of respondents in using?

A. Digital bank
B. Traditional bank
4. What are the negative experiences of respondents in using?

A. Digital bank
B. Traditional bank
5. What makes respondents prefer digital banks over traditional banks? Vice
versa.

10
Definition of Terms

For a clearer understanding of the words used in this study, the following terms define

in the context of this research.

Bank- An establishment for the custody, loan, exchange, or issue of money, for

the extension of credit, and for facilitating the transmission of funds.

Banking license- a legal prerequisite for a financial institution that wants to carry

on a banking business.

Bank preferences- are classified as traditional banks or digital banks that the

client prefers to use.

Benefits- Enables people to obtain cheaper deals on fuel, insurance and credit.

Basic bank accounts can also help prevent over indebtedness since they do not

offer overdraft facilities.

Convenience- In banking used to mean that the banks had several branch

locations, good hours, and available tellers.

Currency exchange- is a licensed business that allows customers to exchange one

currency for another.

Customer Engagement- is how financial institutions interact with their customers

across all channels.

Deposit- something placed for safekeeping such as money deposited in a bank.

11
Digital banking- digitize all of the banking operations and substitute the bank's

physical presence with an everlasting online presence, eliminating a consumer's

need to visit a branch.

Digitization- the conversion of text, pictures, or sound into a digital form that can

be processed by a computer.

Drawback- a feature that renders something less acceptable; a disadvantage or

problem.

Economy- the structure or conditions of economic life in a country, area, or

period.

Financial Intermediaries- it is an entity that acts as the middleman between two

parties in a financial transactions, such as a commercial bank, investment bank,

mutual fund, or pension fund.

Foster- to promote the growth and development.

Interest rate- the proportion of a loan that is charged as interest to the borrower,

typically expressed as an annual percentage of the loan outstanding.

Loan- the proportion of a loan that is charged as interest to the borrower,

typically expressed as an annual percentage of the loan outstanding.

12
Lockout- the exclusion of employees by their employer from their place of work

until certain terms are agreed to.

Safe deposit box- is an individually secured container-usually a metal box-that

stays in the safe or vault of a federally insured bank or credit union.

Security- are generally classified as either equity securities, such as stocks or debt

securities, such as bonds and debentures.

Traditional banking- is a financial institution dedicated to the management of

money that its clients deposit in the bank’s custody, while the bank, on the other

hand, uses that money to provide loans to individuals or businesses.

Usefulness- the quality of being suitable or adaptable to an end.

Wealth management- is an investment advisory service that provides financial

management and wealth advisory services to a wide array of clients ranging

from affluent to high-net-worth and ultra-high-net-worth individuals and

families

Widespread- found or distributed over a large area or number of people.

13
 CHAPTER II
REVIEW OF RELATED LITERATURE

This chapter presents and discusses the relevant studies and research literature

that are essential for the study, which focused on the customer engagement of selected

bank clients in bank preferences for digital and traditional banking. Also the reason

behind their decision in choosing their preferred bank is affected by different factors.

Those that are included in related studies will serve as a support for the results and help

familiarize with this present study.

Every person’s life includes saving or collecting money, but especially wealthy

people are aware of the necessity for a secure location to keep their funds, which is why

banks have existed. This is financial institution that offers loans with interest rates and

accepts deposits. As a result, banking institutions can also do lending activities. The

bank of today can provide a wide range of services and will likely add more in the

future. As a result, it's crucial to select or be aware of a reliable bank when storing

money.

Based on a study published in the book of Responsible Business in a Changing

World, one of the factors influencing a customer’s decision to choose a bank is the brand

name of the bank. Customer satisfaction initiatives at banks can influence brand

preference because 59.38% of the respondents gave favourable responses (Capaldi et al.,

n.d.).

14
 The positive role of the mediator variable of the brand preference on increasing

brand loyalty was confirmed using the route analysis model. Advertising and brand

preference were found to be effective variables on customer loyalty to the bank (The

Mediating Role of the Brand Preference in Bank Advertising and Brand Loyalty, 2018).

However, because there is a lack of knowledge about digital banks, brand names

have had a major effect there, but on the bright side, they are still more identifiable

because they are new. According to Laycock (2022), 13% only of respondents in the

Philippines claim they have a digital bank account, an additional 12% plan to establish

one in the next year, raising the number of people in the Philippines with a digital bank

account to 25%.

Customer Engagement on Bank Preferences

Both play a part in how a banking customer interacts with a financial institution, but

customer engagement offers more of a big-picture perspective important to the modern

banking industry. Customer experience and customer engagement are frequently used

synonymously in banking, but they are very different concepts (Contributor, 2022).

Client loyalty is increased via client engagement, which influences bank

preference. The findings of the study by Monferrer, Moliner, and Estrada (2019), show

that customer involvement and customer loyalty have a substantial correlation (0.615).

This study supports the growing interest in the literature on this association and attests

to the importance of customer involvement in fostering customer loyalty.

15
 According to Moliner, Tirado and Guillen (2018), the financial performance of the

business is favorably correlated with customer engagement. As a result, upselling and

cross-selling opportunities increase with customer engagement, which in turn improves

the bank's financial success.

A. Usefulness

Studies on factors of usefulness in mobile banking have been found. The attitude

toward using or intending to use does not significantly differ depending on perceived

utility. This demonstrates that user attitudes and interests in the digital banking

application are not influenced by how benefits are perceived. Customers use this digital

banking application, but they don't necessarily do so because of the benefits they

perceive; instead, they use it for reasons other than those benefits. The intention to use

is positively and significantly influenced by the user's attitude toward the digital

banking application; the more positive the user's attitude, the greater the user's desire in

using the digital banking application (Mohammad et al., 2020).

Studies on the factors that make something useful in mobile banking have been

found. The degree to which a person can profit financially and learn important

knowledge from banking services is referred to as its usefulness (Kazi, 2013). Usefulness

increases as the time spent using banking services decreases. When demand for services

is high, interest rates are high, and commission costs are low, financial transaction

information is easily accessible (Alalwan et al., 2016).

In traditional banks, you often have to physically visit a bank to access your

account. Online banks, on the other hand, don't have a physical location, thus
16
everything must be done electronically. Online banks are able to provide reduced costs

and higher rates of return because they are not physically located (Théaud, 2023).

According to a study by Mun et al. (2017), perceived usefulness is the key

determinant of the intention to use a mobile payment service in another Southeast Asian

nation. Intention to use online banking is found to be significantly influenced by its

perceived usefulness (Lim, 2013). Numerous studies conducted in recent years have

indicated that customers are aware of the benefits of online banking, including its

accessibility, ease of use, wealth of information, dependability, and ability to save time

and for monetary savings (Wu et al., 2013).

B. Convenience

In terms of convenience, online banks and digital banks are quite similar to one

another. How convenient it is to bank with a certain company depends on a variety of

aspects, including the effort required of the consumer, the product's accessibility, and

how the bank leverages data to its clients' advantage (Trifilio, 2019).

CIMB Philippines (2020) asserts that using a digital bank can help you save time and

effort in addition to money. You may manage your account directly from your phone

using this experience. Long lineups are unnecessary because everything can be done

using the app. You can arrange bill payments or conduct deposits at a time that is most

convenient for you, so there's no need to rush to make deadlines. Customers'

perceptions of digital banking are realistic given that it makes use of swift data transfers

from the internet. According to Jebarajakirthy and Shankar's study (2021), convenience

17
is one of the main factors promoting customer adoption of digital banking. Banks must

understand how to satisfy customers through convenience in order to stimulate

economic growth.

One benefit of traditional banking is the capacity for cash deposits. A

welldeveloped network of ATMs is frequently made available to consumers by

traditional banks. The number of machines nationwide at larger universities could even

reach tens of thousands (Chase, n.d.). The customer experience with digital banks is

fairly seamless; it takes less time to open an account online than it does inside a branch;

it's simple to transfer money into and out of your accounts; many of them have apps

that let you conduct banking on a mobile device, like a smartphone (Wells, 2023).

According to Strohm and Horton (2023), convenience is one of the main

advantages of digital banking. For instance, several mobile banking apps allow you to

deposit checks remotely. You can simultaneously check your balance, transfer money,

and set up a notice to notify you if your account goes into overdraft without having to

go to a branch. It really saves time. You can deposit checks remotely using several

mobile banking apps, for instance. Without going to a branch, you can simultaneously

check your account's balance, make a transfer of money, and set up a notice to inform

you if your balance goes to nothing. The time it saves is significant (Strohm & Horton,

2023)

C. Security

According to Naz (2023), the main objective of cybersecurity in banking is to secure the

user's assets. There are more online acts and transactions as more individuals go
18
cashless. People make purchases using electronic payment methods like debit and

credit cards, which require cybersecurity protection. End-to-end encryption and firewall

security are provided by digital banks. A tool called end-to-end encryption makes sure

no outsider can access your data (You are being rerouted, n.d.).

Being entirely online, digital banks are more prone to cybersecurity problems. Don't

worry, though. I have a good feeling that the back-end staff has made the servers'

security level sufficient to avert financial disasters or complete data loss. In contrast to

conventional banks, they have tangible documents on hand as a safety net in the event

of security difficulties (Rey-Franc, 2020). According to Lake (2023), if you use a secure

internet connection and access your accounts via a reputable app, mobile banking is

regarded as secure. By using multi-factor authentication and using your phone's

security features, such fingerprint or face ID, you can add additional layers of security.

In addition to being significantly more dependable than digital banks, traditional banks

are better known for their security measures due to their reliance on technology, are

more susceptible to technical issues (Thakor, 2020). Additionally, online banks have

significant security issues since they rely on cloud computing, a centralized

infrastructure that makes it easier to supply services internet-based (like cloud storage).

Digital banks may also examine and process client activity in real-time, enabling them

to rapidly spot privacy violations, adjustments to spending habits, and other signs of a

security risk on the side of their customers. Customers are monitored via their AML

Monitoring (AntiMoney Laundering Transaction Monitoring) (Ketenci et al., 2021).

19
 Specifically, public sector banks need to improve their technological adoption to

improve customer satisfaction. Security is the primary factor considered important by

customers to adapt technology, so that needs to be improved by the banks. It can be

concluded that banks in India still have a long way to go to match global standards in

terms of technological adoption. Additionally, public sector banks need to expand the

number of services they provide through ATM kiosks and enhance their internet and

mobile banking offerings (Joshi et al., 2019).

Cutting the card was a means to let the cardholder know or assure them that it won't be

utilized once they've left the store. Cutting the card rendered that action or thinking

meaningless and discouraged criminals from attempting to reclaim stolen or fake cards

from the cashier (Quora, n.d.).

D. Benefits

You have more opportunities to passively grow your savings at a faster rate compared

to other local banks because digital banks have lower operating costs and can offer their

services at higher interest rates. Unlike traditional banks that only offer 1-2% for your

deposit accounts, digital banks can go over 3% (CIMB Philippines, 2020). The top digital

banks in the Philippines with high interest rates are Diskartech, which offers a 6.5%

interest rate, Seabank and Netbank, which offer a 5% interest rate, Tonik, which offers a

4.5% interest rate, and others (Mjgaly.Mg., 2023)

Customers profit from internet banking's simplicity, accessibility, and better

security features, claims Theaud (2023). Traditional banks, on the other hand, provide

20
more individualized experiences, including in-person interactions and a range of other

services. One of the major advantages of holding an account at an FDIC-insured bank is

deposit insurance, which is how the FDIC safeguards your funds in the unlikely event

of a bank failure (FDIC, n.d.).

Experiences in Using Traditional and Digital Bank

The experiences of bank customers serve as a foundation for raising awareness of

the difference between traditional and digital banks. According to Westhoff, Koele, and

Groep (2020), it is more effective to learn from the mistakes and successes of others than

it is to try to figure things out on your own. You can also learn about others by

interacting with them, which can help you figure out who to trust and foster positive

relationships.

According to the Visa Consumer Payment Attitudes study, more than half of

Filipinos use mobile banking services at least once a week and nearly three out of four

of them have a banking app on their smartphones. The two main factors contributing to

Filipinos' increased use of mobile banking apps are convenience and smartphone

accessibility (Visa Study, Visa n.d.).

Based on the study conducted by Bautista et al. (2021), several of the defects and

faults in their digital banking system have a significant negative impact on their

customers' use of the platform, and the respondents’ advice fixing this. The platform

should also be updated. They should also create a platform that is user-friendly for all

of their clients, regardless of their age or level of knowledge.

21
 According to PwC's research on consumer banking, 65% of banking customers

demand access to a nearby branch. Although many of these clients may be frequent

users of mobile and online banking, they still desire the extra benefit of visiting a branch

(Onyabe, 2021).

Dudovicz (2023) states that one of the trends in banking customer experience that

is increasing the fastest is client self-service. Mobility has made it possible for consumers

to completely access their bank's resources from a mobile device everywhere there is

WiFi. This has transformed what was once a pipe dream into a standard expectation.

Cruijsen, Haan, and Jansen (2016) found that respondents' individual bad

financial crisis experiences not only decreased their faith in banks but also had a direct

negative impact on generic trust. Compared to respondents without this experience,

respondents who were clients of a bank that experienced difficulties have less faith in

banks. Customers of bankrupt banks reported a substantially greater drop in

generalized trust than other respondents.

The majority of participants were eager to learn how to use online banking.

Studies indicate that elderly people do not find web banking sites to be straightforward

or userfriendly. The qualitative research showed that both of the web-banking websites

we looked at had issues. Future redesigned bank websites will be required to

incorporate the guidelines and other recommendations from this study (Gatsou, Politis,

& Zevgolis, 2017).

The escalating prices of transactions are one of the main shortcomings of

traditional banking. There is a charge for each transaction. Digital consumers nowadays
22
are negatively impacted by high account fees, card fees, transaction expenses, and

borrowing prices that are packaged with several charges (Techvista Systems, 2022).

Reason in Choosing Traditional or Digital bank

Based on the recent study of Shin (2022), respondents said digital banks were

more useful than traditional banks in terms of retaining and attracting customers.

Digital banks have also improved their ability to offer financial information through

mobile apps. The participants claimed that traditional banks’ employee-customer

engagement was superior to that of digital banks in terms of customer satisfaction.

Given that 60.5% of the total respondents utilize traditional banking, vs 4.4% for

totally digital banks and 35.1% for both traditional and fully digital banks, this study

demonstrated that Metro Manila banking clients have a high preference for physical or

traditional banks. In reviewing and assessing client motivation in choosing a choice,

decision variables like ease, efficiency, customization/personalization, security, and

privacy also played a key influence (Gigante et al., 2022).

The Stefanka (2022) asserts that digital banking is the way of the future,

particularly for company owners. With digital banking, you may save fees, improve

accounting software integrations, safely collaborate with your team, and have improved

visibility into your daily income, savings, and expenditures.

According to Lacsamana (2023) statement, unlike traditional banks, digital banks

do not need to maintain physical infrastructure in order to provide services to their

23
customers. They claim that this arrangement enables digital banks to use their savings

from the alleged maintenance of branches to provide benefits to their consumers.

According to Jaime Peters, assistant dean and assistant professor of finance at

Maryville University of St. Louis, there are still plenty of people who aren't accustomed

to managing their finances electronically, and some of the services that banks offer still

require face-to-face interaction, despite the rise of online banking. Additionally, Peters

added, "We're still a fairly large cash society, and you need a branch, particularly if

you're a small business, and you're dealing with cash in and cash out." (Nguyen, 2021).

Branches can assist with life events like home purchases or renovations, opening

an account for clients or their family members, or starting a business. According to

Future Branches, "research reveals most customers prefer branches over digital channels

when opening new accounts for both simple (such as savings accounts and debit cards)

and complex products (such as loans)." (Wittenbach, 2022)

Mobile banking is the most recently introduced innovative feat in the banking

sector. The unique ability of mobile banking to perform banking transactions

irrespective of place and time has given a competitive edge over traditional banking.

Even though, all circumstances are in favor of mobile banking, it has failed to take off in

most of the developing countries (Pavithran et al., 2014).

Digital banking importance varies by net worth; 96% of respondents with a net

worth under $1 million view online banking as important, compared to 82% of

24
respondents with a net worth over $1 million. 91% of consumers believe that digital

banking is an important factor in deciding where to bank (Caporal, 2023).

The main goal of this chapter is to review the literature on people’s preferences

for traditional and digital banks. It covered the factors that determine whether a bank

should be digital or traditional depending on customer interaction or experiences.

Additionally, it discussed how the bank client perceived various factors, including

usefulness, convenience, security and benefits. This related study will provide a

summary and a hypothesis regarding the topic.

CHAPTER III RESEARCH METHODOLOGY

In this chapter, research design, locale and population, sampling technique and

data gathering procedure were presented. The researchers provide this for the reader to

know how the study was conducted.

Research Design

This study utilized a descriptive research design. Descriptive Research depicts the

participants in an accurate way. This method was chosen because the researchers

sought to explore the insight and perception of the respondents.

In the Descriptive research design, a researcher is solely interested in describing the

situation or case under their research study. It is a theory based design method which is

25
created by gathering, analysing and presenting collective data. This allows a researchers

to provide insights into the why and how of research. Descriptive design helps other

better understand the needs for the research.

Locale and Population

The respondents of this study are the selected traditional and digital bank clients in

Tiaong, Quezon. The study's respondents will assist the researchers in compiling the

essential and reliable data on their experiences using traditional and digital banks,

including their preferences and engagement.

Sampling Technique

The researchers selected the 10 digital bank clients and 10 traditional bank clients in

Tiaong, Quezon as their dear respondents. The participants were selected through

purposive random sampling. It is a non-probability sampling, and the respondents were

chosen based on the population's characteristics and the study's goal. This sampling

technique depends on the researcher's judgment when deciding which people,

situations, or events would yield the most useful data for achieving the study's goals

(Nikolopoulou, 2022). It is a method that is frequently used in qualitative research to

find and choose examples with lots of information so that the restricted sources are used

as efficiently as possible. Only respondents who use traditional and digital banks are

chosen by the researchers for the current study since they are most qualified to respond

to their questions.

26
Research Instrument

The researchers will conduct an interview, where in this type of interview, the

researchers created semi-structured questions for the interview. This instrument was

the best one to meet the objectives of the study. They will also use an audio recorder to

record the interview and clearly interpret the responses of the participants.

Data Gathering

In gathering data and information from the respondents, the researchers

underwent a series of procedures.

First, they asked questions related to the topic to be answered by the

respondents, who were all bank clients of traditional and digital banks in Tiaong,

Quezon. This was done to gain information about the reasons behind the banking

preferences of selected bank clients in order to differentiate between traditional and

digital banks.

Second, the researchers asked permission from the respondents through a

consent form, who are selected bank clients, to conduct the study. The researchers

personally asked the respondents, who conducted one-on-one interviews with each

bank client in Tiaong, Quezon.

After conducting an interview, the researchers evaluated and interpreted the

answers to determine the experience and perspective of bank clients in both traditional

and digital banks.

27
 CHAPTER IV
PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA
The information acquired during the research study is presented, examined, and

interpreted in this chapter. The varied results from the interview and through the use of

guide questions were provided in the following tables with associated discussions and

explanations. It also addressed particular issues raised in the chapter before.

“Customer Engagement Towards Banking Preferences of Selected Clients in

Tiaong, Quezon”

Table 1. What bank do the respondents prefer to use?

A. Digital Bank
Respondent Verbatim Translation Code
1 “Ahhh, Land Bank” “Land Bank” Land Bank
2 “Ahm, Union Bank po” “Union Bank” Union Bank
3 “BDO” “BDO” BDO
4 “Sa ngayon ay BDO” “So far, BDO” BDO
5 “Ahm, BPI” “BPI” BPI
6 “For digital bank, I use BDO” “For digital bank, I use BDO
BDO”

28
 7 “The digital bank that I usually “The digital bank that I BDO
use is BDO” usually use is BDO”

8 “BDO” “BDO” BDO

9 “The digital bank that I use is “The digital bank that I BDO
BDO, and I have a savings debit use is BDO, and I have a
card which allows me to make savings debit card which
transactions online instead of allows me to make
going to a physical bank”
transactions online instead

of going to a physical
bank”
10 “My most commonly use digital “My most commonly use BPI
banking is BPI onine banking digital banking is BPI
onine banking
application” application”

Table 1.1
Most of the respondents answered that BDO (Banco De Oro) is the digital bank

that is most often used or preferred by the chosen bank clients in Tiaong Quezon. Two

out of 10 respondents utilize BPI (Bank of the Philippine Islands), while others are Land

Bank and Union Bank. Every bank client's preferences are influenced by the name of the

bank. Capaldi et al. (n.d.) claim that customer satisfaction programs at banks can affect

consumers' brand preferences because 59.38% of the respondents had favorable

feedback. It also increase customer loyalty to the bank (The Mediating Role of the Brand

Preference in Bank Advertising and Brand Loyalty, 2018).

B. Traditional Bank
Respondent Verbatim Translation Code
1 “BDO” “BDO” BDO

29
 2 “Ahm, ano BDO” “BDO” BDO
3 “Ahm, BDO po” “BDO” BDO
4 “Ang ginagamit ko is BDO” “The one I use is BDO” BDO
5 “Yung UCPB, yung nasa “The UCPB, the one near BDO
bantayan” at the trycicle parking lot”

6 “Yung BDO” “BDO”

7 “Ang kasalukuyang bangko na “The current bank I use is BDO
aking ginagamit ay BDO o Banco BDO or Banco De Oro”
De Oro”
8 “Edi yun nga Land Bank, stick “The Land Bank and I Land Bank
ako diyan ” stick to that”

9 “Banco De Oro and mas “Banco De Oro and I am BDO

preferredd ko nga yung traditional more preferred in the
bank” traditional bank”

10 “Card Bank” “Card Bank” Card Bank

Table 1.2
Table 1.2 also shows the chosen banks for each client in traditional banks. Much like in

digital banks, BDO is the preferred bank for the majority of respondents. While two of

them utilize Land Bank and Card Bank.

Table 2.1. What is the perception of the respondents in banking preferences in terms of
usefulness?
A. Digital Bank
Respondent Verbatim Translation Code

30
1 “Okay lang, useful naman siya “It's okay, it’s useful for Accessibile
para sa mga taong hindi, bigla those people who can’t
biglang makakalabas para kumuha suddenly go out to get
ng pera” money”

2 “Ahm, kasi pag sa digital easy “Because in digital, it’s Accessibile

access na siya so kahit kunwari easy access so even if I'm
in a faraway place and
kahit nasa malayong lugar ako tas there are no bank outlets, I
walang mga bank outlets pede

nasa phone lang ako basta may can just be on my phone

load ako or signal ganun”
as long as I have a load or
signal”

3 “For me, nakakatulong dahil “For me, it helps because Accessible

anytime madali mo ma-aaccess you can easily access your
yung account mo” account anytime”

4 “Ano na siya, convenience” “It is convenience” Ease of use

5 “Okay, sa digital bank kasi “Okay, of course in digital Multiple payment
syempre seamless yung mga bank, the transactions are options

transaction. You can pay online, seamless. You can pay

you can pay bills. Ahm, kahit online, you can pay bills. I
yung sa mga restaurants, yun even use it in restaurants
narin yung ginagamit ko even and electricity bills”
electricity bills, yun.”

31
6 “Ahm, the reason why, I’m using
BDO right now to be honest
because that’s the only bank that
the company supporting. Ahm,
and I’m just using digital banking
just for me to navigate or to check
whether if the salary is already
enter my bank or not, that’s it”
7 “Ano maganda siya and it helps a
lot kasi easy access hindi lang sa
pagtatransfer ng pera kundi din sa
pagbabayad ng mga bills kasi
through digital banking,
“The reason why I’m “Monetary savings
using BDO right now to from salary ”
be honest because that’s
the only bank that the
company supporting. I’m
just using digital banking
just for me to navigate or
to check whether if the
salary is already entered
my bank or not”
“It is good and it helps a “Accessible and
lot because it’s easy multiple payment
options”
access, not only for
transferring money but
also for paying bills
32
 nakakapagbayad tayo ng mga bills
nating like for example yung mga
kuryente, sa internet so hindi na
siya hassle ng pagpunta dun sa
mga store para magbayad and at
the same time, yun nga, sa
pagtatransfer ng pera hindi mona
kailangan magpunta pa ng
bangko, syempre pipila 33appa so
unlike dito na digital banking
lahat talaga is easy access”
8 “Malaki ang pakinabang nito
saakin dahil hindi ko na kailangan
pang pumunta sa bangko, gamit
ang cellphone ay mabilis akong
nakakaaccess dito”
9 “I can say that using a digital
bank is way more useful than a
traditional bank, this is because I
use my phone a lot and it is more
convenient for me to access my
debit card from it than going to a
physical bank. I can easily do
transactions, save money, pay
things I buy, and send money
because through digital
banking, we can pay our
bills like for example the
electricity through the
internet so it is no longer a
hassle for us to go at the
stores to pay and at the
same time, when
transferring money you
don’t need to go to the
bank, Of course you have
to wait in line, so unlike
here in digital banking,
everything is really easy
access”
“It’s has a big benefit to me “Accessible”
because I don’t have to go
to the bank anymore,
using my cellphone I can
access it quickly”
“I can say that using a “Ease of use,
digital bank is way more accessible and
useful than a traditional multiple payment
bank, this is because I use options”
my phone a lot and it is
more convenient for me to
access my debit card from
it than going to a physical
33
 through my phone, without taking
the time to go do it at a bank. I
would say digital banking is very
useful now that most of us use our
phones and technology on a daily
basis”
10 “Okay, so in terms of its
usefulness, first of all you have
access to your savings account or
through your mobile phone
whenever, wherever as long as you
have an internet connection.
Second of all, transactions are
made easier and more convenient
by saving us time and effort of
going to an actual bank and
having to wait in line.”
Table 2.1.A The respondents' perceptions of banking preferences in terms of usefulness
among digital bank users are shown in Table 2.1.A. The researcher surveyed that digital
bank. I can easily do
transactions, save money,
pay things I buy, and send
money through my
phone, without taking the
time to go do it at a bank. I
would say digital banking
is very useful now that
most of us use our phones
and technology on a daily
basis”
“Okay, so in terms of its “Accessible, ease of
usefulness, first of all you use, and saving
time”
have access to your
savings account or
through your mobile
phone whenever,
wherever as long as you
have an internet
connection. Second of all,
transactions are made
easier and more
convenient by saving us
time and effort of going to
an actual bank and having
to wait in line.”
34
 banking is practical in terms of accessibility, and other respondents provided additional

justifications for utilizing it, including convenience, a variety of payment alternatives,

the ability to save time, and monetary savings. Therefore it is really accessible and save

time in every bank client. Alalwan et al. (2016) assert that usefulness rises when

information is accessible and in demand. Digital banking offers accessibility, simplicity

of use, time savings, and financial savings, according to Wu et al. (2013). The user's

attitude is favorable toward the digital banking application, as well as the factors that

motivate them to use it (Mohammad et al. 2020).

B. Traditional Bank
Respondent Verbatim Translation Code
1 "Ahm, ano siya, marami siyang “It has many benefits and “Fast transactions
benefits and nakakatulong siya it helps like for example and many benefits”

like for example is mapapabilis your transactions will

yung transations mo, parang speeded up”
ganun”

2 ”Ahm, maganda ito dahil duon “It's good because that's “Monetary savings”
tayo nagtatabi ng ating mga pera where we keep our
money”
eh”

3 “Ahm, masasabi ko lang is mas
madali siya pag kukuha ka ng pera
kasi, pwede mo siya, halimbawa
yung allowance mo, pwede mo
“I can only say that it is
easier when you get
money because, you can
have it, for example for
“Easy to transfer
money, and saves
money”

35
 siyang hindi hawakan or kunin
nang lahat-lahat so pedeng, day by
day kumuha ka nalang ng
kumuha”
4 “Ahm, pag kasi traditional bank
usually may interaction siya ng
ano sa facility at siyaka sa tao sa
bangko ganun”
5 “Ano mas hindi mo nagagalaw
yung pera mo kasi it takes time
and effort para mag withdraw ka
siyaka mas nakakaenganyo mag
deposit kapag may bangko ka”
6 “Yung paggamit ng traditional
bank mas ano parang mas okay
siya sakin kasi alam ko na hindi
mawawala yung pera kasi nandun
lang talaga yun”
7 “Ang masasabi ko ay nagagamit
ko toh sa pagbabayad ng mga bills
like pagbili ng gamot sa botika at
paghuhulog ng sasakyan, at pede
mo rin siyang gamitin sa mga
Malls”
your allowance, you
cannot touch it or take it
all at all, so you can just
get it day by day”
“In traditional banks, it “Access physically”
usually has an interaction
with the facility and with
the people in the bank,
like that”
“You can’t move your “Monetary savings”
money as much because it
takes time and effort to
withdraw, so it's more
appealing to deposit when
you have a bank account”
“Using a traditional bank “Saving money”
seems to be more good to
me because I know that
the money won't be lost
because it's just there”
“What I can say is that I “Multiple payment
can use it to pay bills like options”
buying medicine at the
pharmacy and payment
for a car, and you can also
use it at the Malls”
36
 8 “Yun nga, no say anything “That's it, no say anything “Good service”
because the service of that bank is because the service of that
bank is good so good”
good so good.”

9 “Para saakin kapaki-pakinabang “For me, using a “Benefits and good

ang paggamit ng tradisyunal na traditional bank is personal service”

bangko dahil may personal na beneficial because they

serbisyo at tulong mula sa mga provide personal service
tauhan ng bangko silang and assistance from bank
ibinibigay” staff”

10 “Ano siya mas convenient, siguro “It's more convenient “Ease of use and
kasi mas malapit na puntahan, perhaps because it's closer monetary savings”

mas madali kumpara sa digital. to me, and it's simpler

Mas madali kung baga kapag may
mga kailangan ka, ahm
withdrawal, deposit, mas madali.
For savings at siyaka siguro in
case of emergency nadin”
than digital. It's easier if
you have what you need,
such as a withdrawal or a
deposit. Also to save
money and possibly in
case of emergency”

Table 2.1.B
The respondents' perceptions of banking preferences in terms of usefulness

among traditional bank users are illustrated in Table 2.1.B. The majority of respondents

stated that one benefit of utilizing a traditional bank is the ability to save money. It also

has direct access to the bank physically. According to Lim (2013) perceptions of the

usefulness of online banking have a considerable impact on users' intentions to utilize it.

To access your account with a traditional bank, you normally have to physically visit

one (Théaud,

37
 2023). Accordingly, it contradicts the claim made by Mohammad et al. that user

attitudes and interests in the digital banking application are not influenced by how

benefits are perceived, as two of the respondents also use this traditional bank because

of its benefits. They utilize it for benefits other than those reasons. Therefore it is really

useful for every bank client and it has a physical interaction.

Table 2.2. What is the perception of the respondents in banking preferences in terms of
convenience?
A. Digital Bank
Respondent Verbatim Translation Code
1 “Madali lang naman transaction “It is easy to transact with “Ease of
sa Landbank kahit sa BDO madali Landbank, even with transaction”
lng din ang transaction.”
BDO, the transaction is
also easy”

2 “Ayon nga kagaya ng sabi ko easy
access siya tiyaka I think yung
mga information mas naiingatan
yung privacy ko through digital
compare sa traditional banking
ganon.”
“As I’ve said, it's easy to “Easy access”
access, besides, I think the
information protects my
privacy better, true digital
compared to traditional
banking”

3 “Yan katulad nung sinabi ko “Like I said, it's easy to “Easy access”
madaling ma access kase internet access because all you
lang naman yung kailangan mo.” need is the internet.”

4 “Kahit nasa bahay kalang pwede “Even if you are at home, “Ease of
mona syang itransact ng naka upo it can be transacted while transaction”

kalang.” sitting.”

38
5 “Basta may internet ka you can
purchase online, yun mahilig kase
ako mag purchase Online Shoppe,
Lazada,kahit nga sa tiktok shop
pwede rin siya ayun even bills
kahit pag bobook ng hotels oh diba,
kahit transportation pwede narin
na online lang”
“As long as you have “Accessible and
internet, you can purchase easy for paying
online and I like to bills”
purchase online like
Shoppe, Lazada, even in
the tiktok shop. You can
pay even bills,
transportation and even
when you book hotels.”
39
6 “Talking about convenience of
digital banking let say there’s an
emergency that for example you
need to send some money to your
relatives at the middle of the night
you can do it by opening your
digital banking and try to transfer
money to any bank that is
available in your digital banking.
You can transfer money using
Gcash, Paymaya or any other bank
just by putting an amount is not a
question how much how you want
to send as long as you have that
kind of money whether big or
small. You can send it without
anyone knowing it beside the
sender and the receiver then you
send already they will receive it
just a few seconds”
“Talking about “Ease of
convenience of digital transaction, paying
bills and
banking let say there’s an accessibility”
emergency that for
example you need to send
some money to your
relatives at the middle of
the night you can do it by
opening your digital
banking and try to
transfer money to any
bank that is available in
your digital banking. You
can transfer money using
Gcash, Paymaya or any
other bank just by putting
an amount is not a
question how much how
you want to send as long
as you have that kind of
money whether big or
small. You can send it
without anyone knowing
it beside the sender and
the receiver then you send
already they will receive it
just a few seconds”
40
7 “Ayon usually ginagamit ko ay
BDO for savings emergency
purposes and true digital banking
namomonitor ko yung pera kapag
may nababawas like for example
ginamit ko siya, halimbawa
ginamit ko yung BDO ko through
debit or nag bayad ako through
digital banking sa mga bills so
through digital banking nakikita
ko kung magkano yung
nababawas dun sa savings ko dun
sa pera ko kase there are times na
nadodoble yung nababawas dun sa
savings, so with that makikita
natin tapos pwede natin sya
ireport agad sa BDO para maayus
agad yung mga ganon
transactions.”
8 “Malaking kaginhawaan ito sa
akin dahil nakatutulong ito para
makapag bayad ng mabilis ng mga
order at mga orders sa shoppe.”
“I usually use BDO for “Deposit checks
savings emergency remotely and can
check transfer
purposes and through funds”
digital banking I monitor
the money when
something is deducted
like for example I used
BDO through debit or I
paid through digital
banking on bills so
through digital banking I
can see what is being
deducted from my
savings from my money
because there are times
that the savings are being
doubled, so we can see
that and then we can
immediately report it to
BDO so that those
transactions can be fixed
immediately.”
“This is a great comfort to “Ease of paying
me because it helps to pay
bills”
quickly for orders and
shoppe orders.”
41
9 “I can say using a digital bank is
more convenient because it allows
me to do things related to my debit
card at any time. I don't have to
go to a bank that has a time it
closes, I can just access my debut
card from my phone. When I
running out of cash, I can just use
my debit card through my phone
instead of going to the bank and
getting money. Another
convenience of using digital
banking is being able to send and
receive money without going to a
bank, this makes it easier for
people to buy and sell things.”
10 “Okay like what you said earlier
it’s more convenient because it
save us time and efforts of going to convenient because it save
an actual bank and having to wait
“I can say using a digital “Saves time and
bank is more convenient effort, ease of
transaction”
because it allows me to do
things related to my debit
card at any time. I don't
have to go to a bank that
has a time it closes, I can
just access my debit card
from my phone. When I
running out of cash, I can
just use my debit card
through my phone instead
of going to the bank and
getting money. Another
convenience of using
digital banking is being
able to send and receive
money without going to a
bank, this makes it easier
for people to buy and sell
things.”
“Okay like what you said “Saves time and
earlier it’s more effort, and ease of
transaction”
42
 in line and addition to that
transaction are almost made it and
instant”
us time and efforts of
going to an actual bank
and having to wait in line
and addition to that
transaction are almost
made it and instant”

Table 2.2.A
The respondents' perceptions of their preferred method of banking in terms of

convenience among digital bank users were shown in Table 2.2.A. In summary, the

majority of respondents stated that utilizing a digital bank was more convenient in

terms of ease of access, transactional simplicity, and time and effort savings. Other

respondents also claimed that it was simple to pay bills, deposit checks, and transfer

funds which is supported by a statement from Strohm and Horton (2023), who claim

that you can deposit checks remotely using a variety of mobile banking apps, for

example, and transfer money without visiting a bank. One of the key benefits of digital

banking is convenience, according to Strohm and Horton (2023). According to CIMB

Philippines (2020) utilizing a digital bank might enable you to save money in addition

to time and effort. The convenience of digital banking is demonstrated by the fact that

all respondents experienced transaction ease, which actually saves time and effort.

B. Traditional Bank
Respondent Verbatim Translation Code
1 “Yun katulad non mas “That is similar to the fact “Fast transaction”
napapabilis yung transaction and that the transaction is
faster and for example
for example ay pag for emergency
magagamit mo siya”

43

2 “Edi hindi siya medyo
kaginhawaan kase lagi ka pupunta
don unlike sa mga yung online na
madali lang.”
3 “Ayon nga po yung convenience
non is yung pag yung allowance
mo, hindi mo siya yung makukuha your allowance or it's like
ng isang labasan, parang hindi mo you can't use it all at once”
siya magagamit agad-agad lahat.”
4 “Yung convenient niya is usually
since face to face nga siya may
interaction ka sa iba tapos kapag
ka nakakapunta ka don mas
makikita mo kung yung mga,
halimbawa mag pipirma ka sa slip
or tiyaka kapag mag di-deposit ka
ganon makakapag withdraw ka
ganon.”
5 “Ayon nga mas masasave mo siya
hindi mo siya nagagalaw
compared kapag hawak mo lang
siya tas sa sarili mo siya iniipon
anytime pwede mo siyang galawin
compared don sa bangko na
madami pa kailangan i-transact”
you can use it in case of
emergency.”
“It's not a bit of a “Consume more
time and effort”
convenience because you
always go there unlike
through online which are
easy.”
“That's the convenience, “Saves money”
where in you can't get all
“In terms of convenient, “Physical
usually since you have interaction to the
bank and staffs”
face to face interaction
with others and then
when you go there you
can see more about them,
for example you will sign
the slip or when you make
a deposit you will be able
to withdraw it.”
“According to that, you “Saves money”
can save it more, you can’t
easily get it compared to
when you only hold
money or you keep it in
yourself, possible you will
44

6 “Ano okay namn yung ano yung
pag gamit ko sa kanya at tsaka
mas ano siya okay yung
traditional bank na gimagamit ko
kase nga 2 years palang ako
gimagamit Yun Pero ano para
sakin okay positive effect Yun
sakin.”
7 “Hindi Kona kailangan pumunta
ng bangko para pumila ng
mahabang mahaba pupunta lng
ako ng ATM machine para ipalsak
at lalabas na ang cash”
8 “Madali silang mag serve ng pera,
pag kukuha ang depositor tanggap
na tanggap nila ang mga tao
abyad na abyad nila entertain na
entertain nila”
9 “Ang traditional na bangko ay
komportable at madaling gamitin
dahil may mga pisikal na sangay
din at pwede ka mag deposito at
mag withdraw ng personal”
consume it anytime or you
can move it, compared to
the bank, which still has a
lot to transact.”
“It is okay for me in using “Has positive
it and what's more, I’m effect”
okay with the traditional
bank that I use because
I've only been using it for
2 years.”
“I don't need to go to the “Developed ATM
bank to stand in a long network”
line, I'll just go to the ATM
machine to withdraw and
the cash will come out.”
“They are easy to serve “Easy to transfer
money. When the money with
physical
depositor takes it, they interaction”
welcome the people and
entertain them.”
“The Traditional Bank is “Physical
comfortable to use transaction and
comfortable to use”
because there are also
physical branches and you
can deposit and withdraw
in person.”
45
10 “Yun na nga siguro sa pag sesave, “That's probably the case “Easy to open a
sa pag sesavings kase kung baga when it comes to saving, bank account”

ang pag bubukas mo kasi ng when opening an account

account sa traditional bank kung
para sa digital bank mas hindi
ganon kahirap yung mga need na
requirements kumpara sa pag
bubukas mo sa digital na andami
nilang hinihinging mahihirap na
mga requirement, yung iba wala
nung mga requirements na
hinihingi nila katulad ng mga
valid ID, katulad ng mga financial
status mo. Dito kase sa traditional
bank hindi ganon kahirap yung
mga requirements”
in a traditional bank, if it's
for a digital bank, it's not
that difficult. The
requirements are so
difficult compared to
when you open a digital
account that they don't ask
for many
requirements such as
valid IDs and financial
status because at
traditional bank it's not
that difficult”

Table 2.2.B

The respondents' preferences for banking in terms of convenience among traditional

bank users were represented in Table 2.2.B. Based on the result of the conducted

interviews, in terms of easy account opening, quick transactions, cost savings, and

physical interaction, the traditional banks are convenient. According to Trifilio (2019), a

number of factors, such as the effort required by the customer, the product's

accessibility, and how the bank uses data to its clients' advantage, determine how

convenient it is to bank with a particular company. Furthermore, one of the respondents

stated that with traditional banks, we can utilize ATMs (Automated Teller Machines) to

conveniently transact in physical banks. According to Chase (n.d.), traditional banks

46
 frequently provide customers with access to a well-developed network of ATMs. One

of the respondent also claimed that opening a bank account was simpler than with a

typical bank, however Wells (2023) claims that opening an account online takes less

time than doing it in a physical location. One of the respondents added that visiting a

physical bank requires more time and effort, so traditional banks should be more visible

or easily available to all clients.

Table 2.3. What is the perception of the respondents in banking preferences in terms of
security?
A. Digital Bank
Respondent Verbatim Translation Code
1 “Ah ayun lang kase ang mga “Today digital banks are “Security risk in
digital bank ngayon mabilis na quick to leech, they also transferring money”

mag leach madali na silang mag easily program to get all

program para makuha lahat ng
pera mo kaya mas safe kung
physical mo kukunin yung pera
mo sa bangko mismo.”
your money, so it's safer if
you physically get your
money from the bank
itself.”

2 “Ahm okay naman ako in terms of
don sa Union Bank na app wala
naman kahit anong issue kapag
nag tatransfer ng pera or nag
wiwithdraw unlike sa iba na nag
kakaroon ng problema kapag nag
mamaintainance yung apps so far
di ko pa naman yun na
eexperience.”
“Ahm, I'm okay with the “No issue, but other
union bank app, there's no apps are like
issue when undermaintenance.”
transferring money or
starting a withdrawal,
unlike others who have
problems when the apps
are in maintainance, so I

47

3 “Masasabi ko sa seguridad nito ay
ang mas mahigpit kase kailangan
mo ng password or one-time
password or minsan ay
fingerprint.”
4 “Ano kailangan, ako lang yung
nakaka alam nung mga pin”
5 “Okay, since meron namang OTP
before ka makapag transfer ng
funds, ah sa ngayon okay namn I
feel secured kase diba hindi mo
naman basta basta, walang basta
basta makaka access ng account ko
unless nag bigay ako ng OTP so
siguro ingat lang din dun sa mga
nag papadala ng emails ayon.”
6 “Well digital banking have to
party services which means all of
the data will be encrypted for
security of that specific uses
because currently if I’m not
mistaken banks are usually prone
to cyber-attacks.”
haven't experienced that
yet.”
“I can say that its security “Multi-factor
is stricter because you authentication and
phone security
need a password or a tools”
onetime password or
sometimes a fingerprint.”
“What do I need is I'm just “Phone security
the only one who knows tools”
about the pins.”
“Okay, since there is an “Multi-factor
authentication”
OTP before you can
transfer funds, for now it's
okay because I feel
secured, right? It's just
that no one can access my
account unless I provide
or share my OTP, so
maybe those who have
emails should be sent
carefully.”
“Well digital banking have “End to End
to party services Encryptions”
which means all of the
data will be encrypted for
security of that specific
uses because currently if
I’m not mistaken banks
48

7 “Ah for me maganda yung
security ng digital bank kase
through digital bank pwede
tayong, usually kase passcode
lang pero may mga ano tayo sa
digital bank para ma secured siya,
gagamit tayo ng face recognition
at the same time yung fingerprint
natin so ayun.”
8 “Napapanatili ko na safe ang pera
ko dito”
9 “I would say digital banking is
secure, I haven’t had any troubles
with safety in my BDO digital
banking debit card. Digital banks
put a lot of attention and effort
into making their online systems
safe, protected, and secure from
errors, hackers and more. To make
sure people's money is safe.”
are usually prone to cyber-
attacks.”
“Ah for me the security of “Multi-factor
the digital bank is good authentication and
phone security
because through digital tools”
bank we can usually use
only a passcode but what
do we have in the digital
bank to be secured is we
will use face recognition
and at the same time our
fingerprint, so that's it.”
“I can keep my money “Safe”
safe here.”
“I would say digital “Provide
banking is secure, I cybersecurity”
haven’t had any troubles
with safety in my BDO
digital banking debit card.
Digital banks put a lot of
attention and effort into
making their online
systems safe, protected,
and secure from errors,
hackers and more. To
make sure people's money
is safe.”
49
10 “Okay so in terms of security, I
have agree with other people's
saying na online banking is risky,
it really is you just have to be
careful and wise how you use
your all in bank account so why is
it risky, first of all madaming
hackers. Hackers can hack in to
your online banking account and
clear funds or savings, second of
all peoples now a days are prone
to being scams online and what do
they use for online transactions,
they use their online banking
accounts for that and may tip lang
pag mag oonline banking is you
have to do your research, you have
to be wise on who you will entrust
to your money to.”
Table 2.3.A The respondents' perceptions of their preferred banking in terms of security
among digital bank users are shown in Table 2.3.A. The respondents' assertion that
“Okay so in terms of “Security issues and
security, I have agreed risk”
with other people's saying
that online banking is
risky, it really is you just
have to be careful and
wise how you use your all
in bank account so why is
it risky, first of all there
are many hackers .
Hackers can hack in to
your online banking
account and clear funds or
savings, second of all
peoples now a days are
prone to being scams
online and what do they
use for online
transactions, they use
their online banking
accounts for that and my
only tip is you have to do
your research, you have to
be wise on who you
will entrust your money
to.”
50
 digital banking is secure in terms of mobile security technologies, end-to-end

encryptions, multifactor authentication, and cybersecurity. Naz (2023) states that

protecting user assets is the primary goal of cybersecurity in banking. Digital Banks

Provide End-to-End Encryptions and Firewall Defense (You are being redirected, n.d.).

Others who responded claimed that sending money entailed risk and that other apps

were poorly maintained which support by Ketenci (2021). According to some of the

respondents, you can set up multi-factor authentication and using your phone's security

features, such fingerprint or face ID, passwords, or pins (Lake, 2023). However, three

out of ten respondents think that it poses a security risk and has problems that the

digital bank needs to address in order to strengthen their system and make it safer.

B. Traditional Bank
Respondent Verbatim Translation Code
1 “Ahm sometimes safe and “Ahm, sometimes it's safe “Encounter errors”
sometimes hindi kase minsan pag and sometimes it's not.
sa traditional ay hindi maiiwasan When it comes to
yung mga errors ganon" traditional, errors cannot
be avoided”

2 “Depende yun sa bangko, tulad “It depends on the bank, “Depends on the
nung kaya ang gimagamit naming like that's why we use bank”

bangko ay BDO kase secured sila BDO because it is secured

and commercial bank sila.”
and it is a commercial
bank.”

51
3 “For me okay naman, since yung
pin is ako lang nakakaalam tapos
parang if ever man na mawala
yung card ko, siguro madaling
macontact yung mga staffs ng
BDO if ever ipa-cut yung card
ganon.”
4 “Kapag kase traditional bank yun
nga face to face siya then kapag ka
ano may security din since
kailangan ng pirma mo kapag mag
wiwithdraw ka or mag de-deposit
ka, hindi yung basta lang katulad
sa digital bank na ipipin lang so
pwedeng,,kapag kase digital bank
pwede siyang mapin lang ng iba
hulaan ganon”
5 “Ahm okay siya as in okay na okay
gawa wala nmn nangyayare sa
account ko tiyaka safe din naman
yung money ko dun”
6 “Sa two years na pag-gamit ko non
hindi pa naman ako nawawalan or
ano yung parang may negative
effect na sya don sa pera na nandon
kaya okay para sakin.”
“It's okay for me since I'm “Password and can
the only one who knows cut up a card”
the pin, so if I ever lose
my card, maybe it's easy
to contact the BDO staffs
and if ever the card will
cut.”
“When it's a Traditional “No Hacker”
Bank, it's face to face,
then when you're there,
there is a security, since
you need your signature
when you start
withdrawing or making a
deposit. It's not the same
as a digital bank, so it's
possible that the pin can
only be found by others
or guess that.”
“Ahm it’s okay as in “No security issue”
nothing happened to my
account and my money is
also safe”
“In the 2 years that I have “No security issue”
been using it, I have not
lost it or what seems to be
there’s a negative effect to
52

7 “Maayos naman fully secured ang
account at hindi pwedeng ma
access ng iba tulad ng mga
hackers.”
8 “Even ikaw ay in dangerous or
yung na ospital gawa kalang ng
authorization, yung may pangalan
binibigyan nila sa madaling
panahon.”
9 “Sa pag gamit ng traditional na
bangko nakakakuha ako ng
seguridad dahil may mga
patakaran at mga security measure
tulad ng pin code at bank account
numbers.”
10 “Siguro same with the digital bank
or sa mga ibang bangko or local
banks na yung mga seguridad
naman na parangn andon naman
yung assurance mo na hindi nila
papabayan yung mga pera na
iiimbak or isasave mo”
Table 2.3.B The respondents' perceptions of their preferred banking institutions
in terms of security are shown in Table 2.3.B. The majority of respondents
my money that I have so it
is okay for me.”
“The account is fully “No Hackers”
secured and cannot be
accessed by others such as
hackers.”
“If you are also in danger “For medical
or in a hospital because of purposes”
the authorization, the
name they give as soon as
possible.”
“By using a traditional “Phone security
bank I get security tools like
because there are rules password”
and there are security
measures such as pin
code and bank account
numbers.”
“Maybe it's the same with “Safe and no
the digital bank or with security issue”
other banks or local
banks that the security is
like you have assurances
that they won't let go of
the money you withdraw
or save.”
53
 claimed that because traditional banking was conducted in physical branches,

there were no security issues like being hacked. Therefore, there are no security

concerns and every client is safe. The majority of problems that they get into are

similar to those in digital banks and cannot be prevented in any type of bank. In

this interview, Thakor (2020) supports the idea that traditional banks are secure

because they don't have hackers and have security measures like passwords and

they can utilize for medical purposes. Due to their reliance on technology,

traditional banks are not only far more dependable than digital banks but also

better known for their security procedures and more prone to technical

difficulties (Thakor, 2020). One of the answers suggested cutting off your ATM

card if you experience issues with your money there. Cutting the card was a

method of informing or assuring the cardholder that the card would not be used

after they had left the store, according to Quora (n.d.). Therefore, traditional

banks only occasionally make little mistakes in transactions, but overall they are

secure and there are no hackers involved.

Table 2.4. What is the perception of the respondents in banking preferences in terms of
benefits?
A. Digital Bank
Respondent Verbatim Translation Code
1 “Mas mabilis na kaming “We are able to pay “Multiple payment
nakakapagbayad ng kuryente kase electricity faster because options”
pwede na siya through bank lahat all bills can now be paid
ng bills, halimbawa nag online through the bank, for

54
 shopping ka pwede na rin siya
through bank.”
2 “Hmm, isa sa mga benifits yung
kagaya non pwede akong
magpaload don na din sa mismong
app and pwede akong magbayad
ng mga bills ganon kunwari
shopee or kaya mga electric bills so
benefits yun para sakin.”
3 “Hmm nagkakaron siya ng
interest kahit mababa lang yong
pursyento.”
4 “Kapag ka kunwari may
babayaran ako doon na lang ako sa
halimbawa hindi ako makakalabas
ng bahay through banking online
na lang. Actually siya ay
remittance pagmagpapadala ang
mga bata doon na.”
5 “Okay digital bank, isa sa perks
ng specifically sa BPI, diba isa
yong Gcash sa widely use so kapag
BPI kase yong gamit mo wala
siyang charge ng cash in or cash
out kapag BPI so yon yong
pinakaperks ni BPI pero all other
example you can do
online shopping through
the bank”
“Hmm, one of the benefits “Multiple payment
is that I can load it in the options”
app itself and I can pay
bills like Shopee or electric
bills, so that's a benefit for
me.”
“Hmm it can earns “Has interest”
interest even if it's only a
low percentage”
“When I have to pay “Accessibe”
something, for example, I
can't leave the house so I
just payment it through
online banking. Actually,
it is sending remittances
to my children who in
charge there.”
“Okay digital bank is one “Lower operating
of the perks of BPI costs”
specifically, isn't Gcash
one of the widely used
ones, so when you use
BPI, there is no charge for
cash in or cash out, so
55
 banks ano naman banks ang lalaki
ng tranfer fee if your gcash user
taalagang sobrang laki ng
natitipid.”
6 “I guess the benefits that you can
get by using digital banks are
saving yourself from
transportation fee, saving yourself
from getting grab while going to
the bank.”
7 “Ah for me yung benefits ng
digital banks syempre less hustle
ah di ka na para pumunta sa mga
bank para gumawa ng transaction
at the same time less hustle sa
pagbabayad ng mga bills, di ka na
pupunta sa mga store nila ganon.”
8 “Marami akong benipisyo na
nakukuha dito gaya ng pagiipon
ng pera.”
that's the most perk of
BPI, but all other banks,
has many transfer fee so if
you are gcash user it saves
too much.”
“I guess the benefits that “Lower operating
you can get by using cost”
digital banks are saving
yourself from
transportation fee, saving
yourself from getting grab
while going to the bank.”
“For me the benefits of “Accessible and
digital banks is less hustle Lower operating
and you don't have to go costs”
to banks to make a
transaction and at the
same time less hustle
when paying bills, you
don't have to go to their
stores.”
“I get many benefits from “Manage savings”
it like saving money.”
56
9 “Just like my answers in the
previous questions, the benefits of
using a digital bank is its
convenience, safety, and
accessibility. You can access your
debit card 24/7 with just your
phone, and any other device like a
laptop. Digital banks are basically
traditional banks but better since
you can pay, send, transfer, and
track your money.”
10 “Okay so in terms of benefits one
of the best benefits of online
banking can offer you is time
efficiency why because like what I
said earlier it's more convenient
because it's saves time and effort
of going to an actual bank or like
when you paying bills you don't
have to go to an actual bank than
you paying on to, you can just
open your online banking account
on your mobile phone and pay
there.”
“Just like my answers in “Convenience,
the previous questions, safety and
accessibility”
the benefits of using a
digital bank is its
convenience, safety, and
accessibility. You can
access your debit card
24/7 with just your phone,
and any other
device like a laptop.
Digital banks are basically
traditional banks but
better since you can pay,
send, transfer, and track
your money.”
“Okay so in terms of “Time efficiency”
benefits one of the best
benefits of online banking
can offer you is time
efficiency why because
like what I said earlier it's
more convenient because
it's saves time and effort
of going to an actual bank
or like when you paying
bills you don't have to go
to an actual bank than you
paying on to, you can just
57
 open your online banking
account on your mobile
phone and pay there.”

Table 2.4.A
The respondents' perceptions of their preferred banking services in terms of benefits

among digital bank users are shown in Table 2.4.A. The majority of respondents stated

that there are numerous payment alternatives, fewer operating expenses, and

accessibility benefits associated with digital banking. Other respondents cited

convenience, safety, time efficiency, and the ability to manage money. Theaud's

assertion that in this banking it was accessibility and simplicity exactly what the

respondents indicated is supported by this. Customers benefit from internet banking's

are ease of use, accessibility, and improved security features, claims Theaud (2023).

B. Traditional Bank
Respondent Verbatim Translation Code
1 “For example is for saving loans “For example is for saving “Good for Savings”
pwede ka magsave ng loans don loans and you can save
and pwede kang makaipon.” money also.”

2 “Yon, ano kase kami may
nagtitime deposit and yon
nagiinterest siya. Yung interest is
depende kung sa long term or
short term”
“That's because we have a “Earn Interest”
time deposit and it earn
interest. It depends on
whether it's long term or
short term”

3 “Feel ko yung benefits is yung “I feel that the benefits are “Good for Savings”
parang mas nakakatipid ako sa pag that I can save more when
gamit ko ng allowance ko tapos
in using my allowance

58
 mas madami ako naiipon or
natitirang pera.”
4 “Yung benefits dun is usually may
interest yung mga na
dedeposit mong money and ano
maayos naman at reliable yung
mga staffs don.”
5 “Para sa akin mas ginugusto ko
magipon gawa ewan ko mas
nakakaengganyo magipon kapag
may bangko tapos mas safe na
yung money and also hindi mo
siya nagagalaw agad. Meron din
interest pero di ko tanda kung
ilang percent.”
6 “Yon nga ano parang mas ano siya
mas na papakinabangan ko
kase alam ko na andon lang yong
pera then may interest pa siya pag
hindi ko nagagamit kaya mas
okay.”
7 “Kapag ang pera mo ay nasa
bangko hindi ito nawawala bagkus
ito ay na daragdagan kahit pa
kaunti-kaunti.”
and then I have a lot of
money left over.”
“The benefits on it is “Earn interest and
usually it have an interest in-person
interactions”
on those money that you
deposit and about the
staffs that are good and
reliable.
“For me, I prefer to save “Safe and earn
there because it's more interest”
attractive to save when
there's a bank, then the
money is safer and also
you don't move it
immediately. There is also
interest, but I don't
remember what
percentage.”
“I'm going to take “Safe and earn
advantage of it because I interest”
know that the money is
only there, then it has an
interest if I don't use it, so
it's okay for me.”
“When your money is in “Safe and earn
the bank it doesn't interest”
disappear but it will
increase even if just little”
59
 8 “Iyon pagdating ng isang taon
pwede mong kuhanin yung
natitira, person nilang binibigay
sa bawat nagdedeposito. Edi ako
talaga ay nakukuha namin yong
ano yong interes pagkaraan ng
isang taon”
9 “Mataas na serbisyo sa mga
kliyente at mga prebelihiyo or
discount.”
10 “Siguro sa ano insurance nga,
siguro sa insurance na kaakibat
noong pinakasavings mo upon
savings mo may kasama na kase
siyang pinaka insurance which is
yun yong pinaka upon applying
mo ng dito sa traditional bank.
Meron na kase don sa contract na
may kasama siyang insurance. So
ayon yung magandang benipisyo,
just in case na may mangyari
hindi ano inaasahan pangyayari so
ayun naka insured ka.”
Table 2.4.B
The respondents’ perceptions of banking preference in terms of benefits among
traditional bank users are shown in Table 2.4.B. The result shows that the traditional
“When one year comes, “Earn interest”
you can take the rest of
the money you left and
they give to every
depositor. Actually, I earn
the interest of my money
after one year”
“High service to clients “Good in-person
and privileges or service with
discounts.” discounts”
“In insurance, maybe the “Insurance”
insurance that is affiliated
with upon your savings is
included because it has
the insurance when you
are applying here at the
traditional bank. You have
the contract that includes
insurance. So it's a good
benefit, just in case
something unexpected
happens.”
60
 banking is practical in terms of good for savings, safe and earn interest. Since it is a

traditional bank, actual contact with the personnel and bank is necessary, and according

to some respondents, it provides good in-person services. According to them, it has also

discounts and insurance. One of the major advantages of holding a bank account at an

FDIC-insured institution is deposit insurance (FDIC, n.d.). It means that the traditional

banking has really a lot of benefits to its every clients.

Table 3. What are the positive experiences of respondents in using?

A. Digital Bank
Respondent Verbatim Translation Code
1 “Okay naman hindi naman “It's okay, my mom “Ease of use”
nahihirapan mama ko, yung doesn't have a hard time,
mama ko kase nagamit eh pero in using it because she is
okay lang sakto lang parehas lang the one who used it, but
silang okay.” it's okay, right, and the
same.”

2 “Hmm ayon nga hindi ako “I don't experience to wait “Accessible and
nakakaranas ng kagaya ng sa in line like in the fast transaction”

traditional na pipila ka pa ganun, traditional. You still have

tas hustle pa gagastos ka pa ng
pamasahe pagpupunta ka dun etc.
Syempre kapag nandon na sa
phone mo easy access na lang at
saka ayon yong privacy ko nga
feeling ko mas safe kapag digital.”
to hustle and you'll have
to pay more for the fare
when you go there or etc.
Of course, when it's on
your phone, its easy
access, then my privacy
feel safer.”

61
3 “Mas mabilis ang transactions.”
4 “Hmm maganda siya convience
nga.”
5 “Positive na karanasan, ayon nga
ease ng transaction, sa halip na
alam mo yon pwede kang
magshopping sa bahay hindi mo
na kailangan yung tatawag sayo
na "Ma’am andito na yong order
mo yong bayad mo" Oh ayan may
bayad ka na before dumating yong
order sa sobrang ease nga ng
paggamit.”
6 “Well to positive exprience that I
have is when I’m at the party and
suddenly my mom ask me for some
money then I don’t need to live the
party, I just open up my device
then I just send out the money and
a few seconds after I'm sending
the money already distribute, used
the money already have them
without me living out the party.”
“The transaction is faster” “Fast transaction”
“It is good and “Convenient”
convenience”
“Positive experience, it’s “Ease of
the ease of transaction, transaction”
you know instead of that
you can shop at home you
don't need to call you
"Ma’am your order is here
pay for your payment"
because you have already
paid before your order
arrives and really easy to
use.’’
“Well to positive exprience “Accessible and
that I have is fast transaction”
when I’m at the party and
suddenly my mom ask me
for some money then I
don’t need to live the
party, I just open up my
device then I just send out
the money and a few
seconds after I'm sending
the money already
distribute, used the money
already have them
62

7 “For me yung positive expriences.
Hmm yon din mga sinabi ko din
kanina at the same time yong di
siya time consuming kase like nga
for example click mo lang after a
second or minutes okay yung mga
transaction.”
8 “Yon nga mabilis lang makaaccess
gamit ang phone na hindi na hagol
sa oras kapag may biglaang
bayaran.”
9 “One of the positive experiences I
encountered when using digital
banking is when I was paying my
college admission fees. As a
graduating student, I applied to
many colleges and it was
convenient to use my digital bank
to pay the admissions fees instead
of going to a physical bank and
paying there. I was able to pay on
my phone from the comfort of my
own house. Another positive
experience I had is how easy it is
to pay things i buy with a tap of
without me living out the
party.”
“For me my positive “Saves time and
experience is what I’ve fast transaction”
said earlier. At the same
time, it is not time
consuming because like
for example you just click
it and after a second or
minutes the transactions
are done”
“Has a quick access with “Accessible”
the phone that won't
waste time when there's a
sudden payment.”
“One of the positive “Convenient,
experiences I encountered accessible and ease
of transaction”
when using digital
banking is when I was
paying my college
admission fees. As a
graduating student, I
applied to many colleges
and it was convenient to
use my digital bank to pay
the admissions fees
instead of going to a
physical bank and paying
63
my phone than using cash which
is done possible by digital
banking.”
there. I was able to pay on
my phone from the
comfort of my own house.
Another positive
experience I had is how
easy it is to pay things i
buy with a tap of my
phone than using cash
which is done possible by
digital banking.”
64
10 “Okay so in terms of positive
experiences using digital banking.
I use shopee app and if you also
use shopee app then you know that shopee app and if you also
for a fact na not all free shipping
coupons are applicable to all
payment method kasi diba most of
the serious cash on delivery or
card but sometimes of the coupons
there are only applicable for shopee
wallet or SP later and if I have a
coupon na, It's only applicable for
shopee wallet and it’s applicable to
my orders I’ll use it and then I’ll
just transfer some funds on my
online banking account through
my shopee wallet and then I’ll pay
it on my shopee wallet nga and
after that I have a free shipping na
“Okay so in terms of “Convenient and
positive experiences using offer voucher”
digital banking. I use
use shopee app then you
know that for a fact not all
free shipping coupons are
applicable to all payment
method because most of
the serious cash on
delivery or card but
sometimes of the coupons
there are only applicable
for shopee wallet or SP
later and if I have a
coupon which it's only
applicable for shopee
wallet and it’s applicable
65
 for my order which like very
convienence lalo na kapag mahal
ang shipping at lalo na kapag iba't
ibang store ang binibilhan mo.”
to my orders I’ll use it and
then I’ll just transfer some
funds on my online
banking account through
my shopee wallet and
then I’ll pay it and after
that I have a free shipping
already for my order
which like very
convienence especially if
the amount of shipping is
higher and especially if
you buy in different
store.”

Table 3.A
Raising awareness of the distinction between traditional and digital banks is based on

the experiences of bank customers. The positive aspects of using digital banks are

shown in Table 3.A. The majority of respondents claimed to have numerous favorable

experiences with it, including how quickly transactions are completed, how accessible it

is at all times, and how convenient and simple it is to use. Convenience and smartphone

accessibility are the two key reasons why Filipinos are using mobile banking apps more

frequently (Visa Study, Visa n.d.). As a result, those experiences are based on the

advantages they can obtain and the bank's successful operations, which demonstrate

the numerous advantages of utilizing it.

B. Traditional Bank

66
Respondent Verbatim
1 “Yon ano siya comfortable siyang
gamitin kasi nga pwede mo siyang
magamit for ano pagemergency
ganon.”
2 “Nakakapagsave ako ng mga
pera.”
3 “Yung positive exprience ko
naman yung halimbawa gumagala
ako or nagmamall hindi ko siya,
alam mo yon hindi ko hawak ng
buo yung pera ko parang kung
magkano lang yung nasa isip ko
na kailangan ko or magagastos ko
ayon lang yung kukunin ko sa
card ko ganon.”
4 “Usually yung positive
experiences, first is yung
halimbawa pag pumunta ka don
yung mga guards like mag
goodmorning, goodafternoon tapos
ano yung mga staffs din inaassist
ka ng maayus, ganun.”
5 “Mas may na tatakbuhan ako
tapos diba may ATM card, kapag
may ATM card ka mas secured
siya saka natututo ka na din kung
Translation Code
“It is comfortable to use “Comfortable to
because you can use it for use”
emergency”
“I can save money” “Provide savings”
“My positive experience is “Save money”
example I'm walking
around or shopping, you
know that I don't have all
my money, it's like how
much is in my mind that I
need or can spend that’s
the only amount I get from
my card
“Usually the positive “Good personal
experiences is first when interactions”
you go there, the guards
say good morning, good
afternoon, and then the
staffs assist you properly.”
“I have place to run with. “Provide savings
and secured”
Then, isn't there an ATM
card, so it is more secured
and you also learn how to
67
 paano magsave as a person na
tumatanda or lumalaki ka na.”
6 “Yung positibo para sa akin yong
alam ko na in the future if wala
akong magamit na pera andon
lang yon at may gagamitin ako.”
7 “Nakakapag withdraw ng
maayos.”
8 “Parang wala na akong positibong
karanasan good na good para sa
akin kase hindi na ako lumilipat
ng ibang bangko dito lang sa
dolores kase mga kawani doon ay
ang babait lalo na yong kanilang
mga head.”
9 “Maganda ang karanasan ko sa
traditional na bangko dahil may
mabilisang serbisyo at may
personal na ugnayan sa mga
tauhan.”
10 “Positive experience, madami
siguro kase since may assurance
ka nga para sa savings mo just in
case na nangangailangan ka
save as person as you get
older.”
“The positive thing for me “Provide savings”
is if I don't have any
money in the future, I
know that it will just be
there and I can use it in
the soon .”
“I can able to withdraw “Proper
transaction”
properly”
“It's like I don't have a “Good personal
positive experience interaction”
anymore, it's good for me
because I'm not moving to
another bank, only here in
Dolores because the staff
there are kind, especially
their heads.”
“I had a good experience “Good personal
with a traditional bank interaction and
quick service”
because there was quick
service with a personal
communication with the
staff.”
“I have many positive “Provide savings”
experience probably
because you have
assurance for your savings
68
 madali mo siyang makukuha o
kung baga magkaproblema ka man
mabilis mapoprovide yong
pangangailangan mo ayon siguro
pinakapositibong karanasan.”
just in case you need it.
You can easily get it or if
you have a problem, your
needs will be provided
quickly so maybe that’s
the most positive
experience.”

Table 3.B

Table 3.B shows positive experiences with traditional banks, which explains the

pleasant experiences the respondents have with it. Due to their decision to open an

account with a bank close to where they live, the majority of them have had better

success saving money. The bank should also offer strong customer service and be

secure, according to the respondents' experiences. It is supported by PwC's research on

consumer banking, a close branch is required by 65% of banking customers. As a result,

they all have positive experiences with traditional banks, particularly when it comes to

the physical interaction involved in saving money.

Table 4. What are the negative experiences of respondents in using?

A. Digital Bank
Respondent Verbatim Translation Code
1 “So far dun naman sa mga “So far with the banks we “Delay of
ginagamit naming bank wala pa use, I haven't had any information ”

namang akong negatibo. Siguro negatives, maybe it just

matagal lang mag, diba nag takes a long time for them
nonotif yon kapag nakabayad to notif when the payment
kana, matagal lang lumabas o
is made.”

69
 magbigay sila ng notif kung
nakabayad na ganon.”
2 “Ahm wala naman siguro sa
ibang app like for example ahm
gcash ganon kase alam naman
natin na madalas mag
maintenance yan pero dun sa
Union Bank na app wala naman.”
3 “Kapag lagi ngang under
maintenance yung website or app
hindi agad maopen yung
account.”
4 “Nako pag walang internet oo di
gagana tapos eh pag sinabing
ganon din naman kahit sa
traditional na pagsabing offline oo
ganon.”
“Maybe there isn't unlike “Often under
in other apps like for maintenance”
example gcash because we
know that it often needs
maintenance but in the
union bank app there isn't
any.”
“When the website or app “Often under
is always under maintenance”
maintenance, the account
cannot be opened
immediately.”
“If there is no internet, “Offline service and
internet
yes, it won't work, then
requirement”
when you say the same,
even if it is traditionally
said offline.”
70
5 “Okay digital bank hindi BPI ha
pero other bank katulad ng
landbank, BDO ah yon ang mahal
ng transfer fee minsan 25 pesos
kapag real time kapag naman
gusto mong makatipid 15 pesos 3
days yung maximum bago mo siya
magreflect sa account mo yon
yung medyo hindi maganda.”
6 “Okay negative experience ahm
not sure if I do have one is ahm ok
sometimes if you’re sending
money through digital banking
sometimes the transfer will failed
or else it will not send sometimes
that happen and before you get the
money back it will take 3 to 24
hours I think thats the negative
experience, will be your best
negative experience because if you
needed a money right if you
needed a money and suddenly the
transfer has failed and you have no
choice to wait for 24 hours before
you get the money back ahm yah
thats it.”
“Digital bank not BPI. But “Other banks have
other banks like landbank, higher operating
cost”
BDO, that has expensive
transfer fee sometimes 25
pesos when real time and
when you want to save 15
pesos, the maximum is 3
days before you reflect it
in your account, that's a
bit not good.”
“Negative experience not “Failed transaction”
sure if I do have one is.
Okay sometimes if you’re
sending money through
digital banking the
transfer will fail or else it
will not send and before
you get the money back it
will take 3 to 24 hours, I
think thats the negative
experience or will be your
best negative experience
because if you needed a
money right and suddenly
the transfer has failed and
you have no choice to wait
for 24 hours before you
get the money back.”
71
7 “Ah for me dun sa negative
experiences while using a digital
banking so far wala naman kase
lahat naman ng mga transactions
o yung ginagawa ko sa digital
banking lahat naman ay successful
at maayos”
8 “Ahm, wala naman akong
negative experience”
9 “I dont have many negative
experiences when using my digital
bank. I would say when you don't
have data or wifi connection, or
don't have a device to use, that
can be considered a negative
experience in digital banking
because everything is done
online.”
“For me there are negative “None”
experiences while using a
digital banking, so far
nothing cause all
transactions or what I do
in digital banking are
successful and smooth.”
“I don't have any negative “None”
experience.”
“I dont have many “None but internet
negative experiences requirement”
when using my digital
bank. I would say when
you don't have data or
wifi connection, or don't
have a device to use, that
can be considered a
negative experience in
digital banking because
everything is done
online.”
72
10 “Okay so one of my negative “One of my negative “Slow services for
experiences using online banking experiences using online fixing errors”

is the time when I accidentally banking is the time when I

transfered money to the wrong
bank account cause I got account
number wrong and so it was
completely and getting the money
back was very hard.”
accidentally transferred
money to the wrong bank
account because I got the
account number wrong

and so it was completely

and getting the money
back was very hard.”

Table 4.A
The negative experiences with using digital banks that are shown in table 4.A are

the ones that the bank needs to address in order to maintain the good. The majority of

respondents have unfavorable experiences with digital banks, including and delayed

information, offline services, downtime, unsuccessful transactions, and especially the

need for an internet connection. According to a study by Cruijsen, Haan, and Jansen

(2016), clients of a bank that experienced difficulties have less faith in banks. A number

of the flaws and defects in their digital banking system have a significant negative

impact on their customers' use of the platform, and the respondents' advice on fixing

this is that the bank needs to address these issues in order to maintain the good

experience in using it. One of them added that while some banks have high operating

costs, BDO is the one she uses. Two of them said that they had no bad experiences, but

the interview revealed that the majority of them did, showing that digital banks still

require improvement.

73
 B. Traditional Bank
Respondent Verbatim
1 “As of now wala naman.”
2 “Hassle siyang mag deposit at
mag withdraw kase lagi kang
pupunta dun.”
3 “Yung negative lang is dito sa
dito kase satin walang BDO na
atm, kase sa dito sa seven eleven sa
tiaong wala naman palaging
laman so parang yung negative ah
experience ko is parang
nahihirapan ako mag withdraw ng
mag withdraw kase nga medyo
malayo yung withdrawhan.”
4 “Yung negative experiences is
kapag ka mahaba yung pila kase
naexperience ko yon sa citymall
yon ganon.”
5 “Actually wala naman kase ay isa
pala kapag ano lang pala, kapag di
available yung atm kaya di ka
makapagwithdraw kapag
kailangan mo ng pera.”
Translation Code
“There is nothing right “None”
now.”
“Because you always go “Consume more
there, making deposits time and effort”
and withdrawals is
hassle.”
“The only negative is that “Accessibility is
dificult”
there is no BDO ATM here
in seven eleven because
here in tiaong is the
withdrawal is always
empty so in my
experience I have a hard
time withdrawing because
it is a bit far away the
withdrawn.”
“I had a bad experience at “Consume more
the city mall, and it time and effort”
happens when the waiting
line is long.”
“Actually it has nothing, “Offline service”
it's just one thing when
the ATM is unavailable so
you can't withdraw when
you need money.”
74
6 “Yung negatibo siguro yung ano
yung alam ko na may pera ako
kaya gastos ako ng gastos kase
alam ko ngang may naka may
naipon ako don kaya parang
nagagamit ko siya.”
7 “Laging offline ang system,
unavailable and temporary close.”
8 “Wala akong natatandaan wala
akong natandaan na akoy sumabit
or akoy ipapakuha ng pera wala.”
9 “Yung mga pila at limitadong
oras ng operasyon nila.”
“I know that I have “Costliness”
money, so I spend it
because I know that I have
saved something, so it
seems like I can use it.”
“The system is always “Offline service”
offline, unavailable and
temporarily close.”
“I don't remember “None”
anything that I hung up
on or asked to get money,
nothing”
“The line is long and “Consume more
limited time of their time and effort”
interaction.”
75
10 “Negatibong karanasan naman “The only thing I don’t like “Consume more
siguro meron kase silang mga about them is their time and effort, and
iba’tibang program din katulad ng program that connect to transactions error”

diko lang nagustuhan sa kanila is card, it's similar to the one

yung ah yung program nila na
connect to card yung parang basta
yung sa phone hindi sya ganon ka
convenient gamitin kase minsan
kahit naman tama yung pag
kakasign up mo dun sa pinaka ano
nila yung parang program
application program nila, minsan
nagkakaroon siya ng problema
hindi mo mabuksan hindi mo din
makita yung pinaka account mo so
ayun kailangan mo pati pumunta
dun sa ano sa mismong office para
ipaayos.”
on the phone, but it's not
always convenient to use
even though it's accurate.
You just file up there with
what they have, it's
similar to their application
program, but sometimes
they have a problem, you
can't open it, you can't
even see your account, so
you have to go to the
office itself to fix it.”

Table 4.B

The negative bank client experiences with traditional banks are explained in Table

4.B. According to one of the respondents, using a traditional bank is expensive due to

transfer fees, charges, and other transaction fees. The majority of respondents also

stated that it required more time and effort, which is in accordance with Wells' (2023)

assertion that conducting banking transactions in person takes longer than doing it

online. According to Techvista Systems (2022), utilizing a traditional bank entails

paying high account fees, transaction expenses, and borrowing prices that are coupled

with several fees. Additionally, they claim that one of the issues is the bank's offline

76
 services and difficult to access. Only two of the respondents had negative experiences,

thus traditional banks need to improve their offerings by reducing extra costs and

expanding accessibility so that customers don't have to waste time and effort.

Table 5.1. What makes respondents prefer digital banks to traditional banks?

A. Digital Bank
Respondent Verbatim
1 “Kase ano siya e kung baga sabay
ka lang sa trend mas convenient
ka kapag nag digital bank mas
mapapabilis lahat ng gawain mo.”
Translation Code
“It's because you're only “More convenient
go with the trend, you'll and join the trend”
be more convenient when
you do a digital bank, and
all your work will be
faster.”

2 “Ahm actually dati traditional “Actually before I used “Ease of use,

talaga pero lumipat na lang ako sa
digital kasi yun nga mas madali
siya tsaka pwede ko siyang
gamitin any time na gusto ko
hindi katulad na kapag traditional
traditional but I just Accessible, check
aacount balances
switched to digital anytime”
because it's easier and I
can use it any time I want
unlike with traditional

pag gusto mong magcheck ng when you want to check

balance or mag magwithdraw
pupunta kapa eh, ito any time pag
sa digital pwede mong buksan
lang yung phone mo tas
machecheck mo na kung ano yung
mga gusto mong icheck ganon.”
your balance or withdraw
you go to it anytime When
it's digital, you can open
your phone and check
what you want to check.”

77
3 “Easy access sa account at mas
mabilis macheck kung may
pumasok bang pera or something.”
4 “Para narin sa kabawasan ng oras
kase kung sa traditional ka pipila
ka pag sa digital ka di kana pipila
internet lang tiyaka mobile data
okay na yung transaction.”
5 “Ease pa rin, yung ease ng
paggamit kase yong traditional
bank kailangan mo pa pumunta
don physically, yung pipila ka pa
diba parang kung may trabaho ka
kailangan mo pang magleave kung
medyo malayo yung branch so ang
hustle, so kapag digital bank
sobrang dali lang, ang dali ng
buhay even yong CIMB kase
another digital bank siya na
“Easy access account and “Accessible, check
faster to check the money aacount balances
or something came in.” anytime”
“For the reduction of time “Ease of transaction
because if you are using and saves time”
the traditional bank you
need to wait in line while
if you are using the digital
bank, the transaction is
okay, just internet and
mobile data.”
“It's still easy, the easy “Ease of use, high
part of using the interest,
convenient”
traditional bank is that
you still have to go there
physically, the one you
choose is like if you have a
job, you still have to take a
leave if the branch is a
little distant, so the hustle
is, so easy with a digital
bank, life is easy even
78
 walang physical establisment ayon
malaki yung interest tapos ano
yon pwede kana rin maginvest
ganyan.”
6 “Easy, I dont go out much, I just
want to stay home that’s it.”
7 “Ah mas okay sakin yung digital
bank kaysa sa traditional bank
kase ahh less hassle sya,`` easy
access at the same time mas
namomonitor natin yung pera.”
8 “Mas napili ko ang digital dahil
hindi na kailangan pang gumastos
ng pera para pumunta duon
through phone makaka-access na
agad”
9 “I chose a digital bank over a
traditional bank because i used my
phone a lot and it is more
convenient for me to use it than
going to a physical bank everytime
i need to make a bank related
transaction. With technology
becoming more and more used by
with CIMB because it is
another digital bank that
does not have a physical
establishment according to
the high interest then
what is that, you can also
invest like that.”
“Easy i don't go out much “Accessible”
just want to stay home
that's it.”
“Digital bank is better for “Accessible and
me than traditional bank check aacount
balances anytime”
because it is less hassle,
easy access and at the
same time we monitor the
money better.”
“I chose the digital one “Low operating
because there is no need to cost”
spend money to go,
through the phone it can
access it immediately.”
“I chose a digital bank “Convenient, and
over a traditional bank ease of transaction”
because i used my phone a
lot and it is more
convenient for me to use it
than going to a physical
bank everytime i need to
79
 people, it is only better to use make a bank related
digital banking now more than transaction. With
ever.” technology becoming
more and more used by
people, it is only better to
use digital banking now
more than ever.”

10 “Okay so like I said kanina I have
both naman it just that I used
online banking more often because
it’s more convinient and I can do a
lot with it and almost an in
instace like time transfers and
paying bills and I also dont have
to put too much effort and to
making peace transactions.”
“So like I said earlier I “More convenient,
have both it's just that I and saves time and
used online banking more effort”
often because it's more
convenient and I can do a
lot with it and almost an
instance like time transfers
and paying bills and I also
dont have to put too much
effort and to make peace
transaction.”

Table 5.A
The respondents' perceptions of what makes them prefer digital banks over traditional

banks are presented in Table 5.A. The result of the conducted interview shows that the

majority of respondents claimed that digital banking was more easily available, simple

to use and transact, convenient and high interest. One of the respondents claimed that

because the transaction were digital, the running costs were low. According to Shin

(2022), respondents believed that digital banks were more effective than traditional

banks at luring and keeping clients. Other respondents claimed that it was possible to

check the balances at any time. As a result, every bank client can easily view and use the

80
 transaction because of it accessibility, convenience, ease of transaction and low
operating cost.
Table 5.2. What makes respondents prefer traditional banks to digital banks?
B. Traditional Bank
Respondent Verbatim
1 “Ahm kase pag sa digital sa digital
is maraming ano maraming
pwedeng magkaroon ng errors
katulad ngayon as of now yung
issue ngayon sa gcash is
maraming nawawalan ng pera
kase nahahack yung gcash so more
us mas convenient na pumunta
mismo dun sa dun sa ano sa
station.”
2 “Mas gusto ko ng personal kong
nakikita yung passbook ganon mas
parang mas ano yung loob ko pag
nakikita o napunta ako ng
bangko.”
3 “Ah hindi naman kase ako yung
pumili ahm yung daddy ko kase
parang siya na lang yung
Translation Code
“It is more convenient to “More convenient,
travel straight to the no hackers”
station because many
things that are digital can
go wrong, such as the
current problem with
gcash where many people
are losing money as a
result of gcash being
hacked.”
“Personally, I like looking “Physical
at the passbook more interaction is much
because doing so or better”
visiting the bank makes
me feel better.”
“I’m not the one who “Influence by
choose, it’s my father parents”
since it seems as though
he was the only one to
81
 nagbigay non at parang siya ang
nagmomonitor through digital.”
4 “Yon katulad nga nung sabe ko
kanina kapag traditional bank may
interaction ka ng staff and sayo
ikaw mismo kailangan ng mga
security na pirma mo bago ka
makawithdraw minsan sa digital
bank na kailangan lang ng pin
usually kapag ganon pwedeng
hulaan lang ng kung sino or basta
maoopen sya ng ano lang yon
basta maoopen lang kase nga pin
lang yung kailangan don e walang
signature ganon”
5 “Yung digital kase minsan nag
hihire ng problems tulad ng
nangyare sa gcash nagkaroon sya
ng certain problem na hindi mo
makuha yung pera mo tiyaka
nakakatakot tiyaka di mo na sya
agad pwedeng matakbuhan or
kapag nagka problema compared
sa traditional bank na nandyan
agad pwede kana agad magsabi ng
concern.”
give it, and he also
monitor it through
digital.”
“Similar to what I said “Physical
earlier, in a traditional interaction is much
better and less
bank, you interact with hackers”
the staff and yourself, and
security signatures are
required before you can
withdraw. In a digital
bank, however, all that is
required is a pin, and
since there is no
requirement for a
signature, you can usually
only guess who or as long
as he can open it.”
“The digital one “Fast in fixing
sometimes hires problems security issues and
less hackers or
like what happened with theft”
gcash, it has a certain
problem that you can't get
your money, and it's
scary, and you can't run to
this immediately or when
there's a problem
compared to the
traditional bank that's
82

6 “Kase yung ano yung mga
magulang ko sabi nila sakin mas
secured nga daw pag yung sa
ganong bangko ako nag deposit
kaya parang ano parang naniwala
lang din ako sa kanila.”
7 “Kase mas maganda parin ang
traditional bank dahil ito ay fully
secured”
8 “Kase di nga ako gumagamit ng
digital or online ang ilagay mo na
lang ay si Ma’am ay di nagamit
ng digital bank or online ang
kanya ay yung face to face ang
gamit”
9 “Para sa akin pinili ko ang
traditional na bangko dahil may
tiwala ako at komportable ako sa
mga traditional na pamamaraan
ng pagbabangko.”
there right away, you can
express concern
immediately.”
“I know that I have “Good for savings”
money, so I spend it
because I know that I have
saved something, so it
seems like I can use it.”
“The traditional bank is “Fully secured”
still better because it is
fully secured.”
“Since I don't use digital “Influence by
or online, just put it as parents”
Ma'am, she didn't use
digital bank or online, she
used it face to face”
“For me I chose the “Comfortable to
traditional bank because I use with trust”
have trust and I am
comfortable with
traditional bank.”
83
10 “Ayon nga parang katulad ng sabi “Just like I said earlier, it is “Easy to open a
ko nga yung kanina kase mas easier to apply to a bank account”

madali mas madaling mag apply traditional bank compared

sa traditional bank kumpara sa to a digital bank, because
digital bank kase minsan ah gusto sometimes when you
mo mag apply sa digital bank yun want to apply to a digital

nga lang hindi ka minsan bank, but sometimes you

aprubahan kase nga meron silang
requirements na mahirap iprovide
kaya mas pinili na lang na mag
traditional bank e ganun din
naman mas kumbaga hndi naman
sa hindi mapapagkatiwalaan din
naman ang traditional bank.”
are not approved because
they have requirements
that It's hard to provide, so
it's better to go
traditional, and it's also
better because the
traditional bank can be
trusted either.”

Table 5.B

Table 5.B explains why bank customers preferred traditional banks to digital

banks, among other aspects that influence choosing a preferred bank. The majority of

respondents claim that they prefer traditional banks because they have fewer hackers,

are better protected, and prefer to contact physically, making security problems simple

to resolve. Two of them cited the influence of their parents in deciding which bank to

use. According to Gigante et al. (2022), while studying and evaluating client motivation,

traditional banks are preferred due to their simplicity, security, and effectiveness.

According to a recent research of Nguyen (2022) by Jaime Peters, certain of the services

provided by banks still need for face-to-face connection. Meanwhile, traditional bank

84
clients preferred this more because they wanted personal interaction, it was safer, and

they could also benefit from the influence of others.

CHAPTER V SUMMARY, CONCLUSION AND RECOMMENDATION

This chapter presents the summary, conclusion and recommendations drawn

from the data gathered, presented, analyzed and interpreted by the researchers.

Summary

This study aims to determine the reasons of choosing between digital and traditional

banking through the experiences of selected clients in Tiaong, Quezon.

Specifically, the study seeks to answer the following questions:

• What bank do the respondents prefer to use

• What is the perception of the respondents in banking preferences in terms of

A. Digital bank
a. Usefulness
b. Convenience
c. Security
d. Benefits

B. Traditional bank
a. Usefulness
b. Convenience
c. Security
d. Benefits

• What are the positive experiences of respondents in using

A. Digital bank
B. Traditional bank

85
• What are the negative experiences of respondents in using
A. Digital bank
B. Traditional bank

• What makes respondents prefer digital banks to traditional banks? Vice versa.

Summary of Findings

1. 1. Table 1.1 and 1.2 indicate the respondents' preferred banks for both digital

and traditional banks. According to the majority of respondents, BDO is the

digital bank that Tiaong Quezon's selected bank customers’ use the most

frequently. BPI is used by two of every ten responders, whereas the other two

banks are Land Bank and Union Bank. Two respondents use Land Bank and

Card Bank, however the majority of respondents favor BDO when it comes to

traditional banks. As a result, BDO is the most widely used bank in both

traditional and digital banking, and it can conduct operations both ways.

2. The respondents' perceptions of usefulness in both digital and traditional

bank are shown in Tables 2.1.A and 2.1.B. The majority of respondents

indicated that digital banking is practical in terms of accessibility and time

savings. While the respondents to a survey on traditional banking stated that

it is advantageous in terms of cost savings and direct access to the bank

physically. They are both advantageous in terms of having a variety of

payment methods, cost savings, and usability in comparison, digital banking

saves more time than traditional banking does. While digital banking cannot

be done, traditional banks have physical access and personalized service.

86
3. The respondents' perceptions of convenience in traditional and digital banks

are shown in Tables 2.2.A and 2.2.B. The majority of respondents indicated

that they found digital banking to be convenient in terms of accessibility,

convenience of use, and the ability to pay bills, deposit checks, and transfer

money. The advantages of traditional banking, on the other hand, include

speedy transactions, easy account opening, cost savings, and face-to-face

connection. However, with a digital bank, transactions are quick and simple,

saving you time and effort. You can even monitor your account from a

distance. While traditional banks have more prominent locations and actual

interactions with customers, they also require more time and effort than

digital banks do. According to the respondent, the digital bank is therefore

more convenient than the traditional bank.

4. Table 2.3.A and Table 2.3.B show the respondents' perceptions of banking

preferences, both digital and traditional bank, in terms of security. According

to recent interviews conducted, the majority of respondents believe that you

can set up multi-factor authentication, phone security features, and end-to-

end encryptions for security as well as having access to information.

Furthermore, it offers safety through cybersecurity. A security risk, according

to three out of ten respondents, is also present. According to all answers,

conventional banks are extremely secure because there are no hackers or

other similar problems. According to the respondent, if a problem arises, it is

simple to remedy because it involves a personal interaction. Therefore,

traditional banks are more secure than digital banks since traditional banks
87
 have fewer hackers and digital banks face security difficulties or risks, but

they both provide protection if bank clients face this type of difficulty.

5. The respondents’ thoughts about the benefits of both traditional and digital

banks are demonstrated in Tables 2.4.A and 2.4.B. The majority of

respondents claimed that there are advantages to digital banking in terms of a

variety of payment options, lower operational costs, and accessibility. Other

respondents said that it is convenient, safe, and improves time management

and financial capability. However, the majority of respondents claimed that

traditional banking is practical in terms of being safe, good for earning

money, and offering individualized services. They both have interest as a

result, but the interest rate in the digital bank is higher in comparison to the

traditional bank, and the transfer fees are lower as well, proving that the

digital bank has more benefits than the traditional bank.

6. Tables 3.A and 3.B present the respondents' positive experiences with digital

and traditional banks, respectively. The majority of the respondents' positive

experiences with digital banks are related to accessibility, quick transactions,

and convenience, which are based on the benefits that they can get from using

these banks. Since traditional banks are face-to-face and offer savings with

convenient and accurate transactions, the majority of respondents claimed

they have good interactions with the staff there. As a result, both traditional

and digital banks offer positive experiences in slightly different ways, such as

88
 easy and quick transactions online without any physical contact, as opposed

to physical contact and money-saving opportunities in traditional banks.

7. The respondents' negative experiences with banking preferences are shown in

Tables 4.A and Table 4.B. The majority of respondents indicated they had

negative experiences with digital banking, including delayed information,

offline services, outages, unsuccessful transactions, and the requirement for

an internet connection. However, other respondents claimed they had no

negative experiences. While most respondents to the survey indicated

traditional banking needed more time and effort, one respondent claimed

using this bank was costly owing to transfer fees, charges, and other

transaction expenses. Additionally, they contend that the difficulty of

accessing offline services and the two respondents who stated that they had

positive experiences with the service support the need to increase

accessibility. However, the respondents stated that there is room for

improvement in the digital bank. As a result, they both require improvement

in order to provide better.

8. Table 5.A and table 5.B present the respondents' perceptions of the factors

that led them to choose digital banking over traditional banking, or vice

versa. The majority of the respondents believed that digital banking was more

widely available, simple to use and transact with, convenient, saves time and

effort, and allows balance checks at any time. They utilize it instead of

traditional banks because it is safer, has more physical interaction, and is

89
 better protected, making security issues easier to fix. As a result, both

traditional and digital banks offer benefits and are helpful for saving money.

However, because it is easily available, offers a variety of payment options,

and has more advantages including high interest rates and cheap operating

costs, digital banks are more practical than traditional bank. While traditional

respondents claim that it is safer since there is physical interaction, which

makes the problem simpler to fix. They both operate in separate ways that are

either superior to or ahead of one another depending on several conditions.

Conclusions

Based on the findings of the study, the following conclusions are drawn:

1. The majority of bank clients in Tiaong, Quezon utilize BDO, implying that it is

the most commonly utilized bank in both traditional and digital banking, and it

can perform operations in both ways.

2. Most of the bank clients in Tiaong, Quezon claim that they are both

advantageous in terms of having a range of payment methods, cost savings, and

usability. In comparison, digital banking saves more time than traditional

banking. While digital banking is not possible, traditional banks provide physical

access and personalized service.

3. Digital bank transactions are quick and easy to complete, saving you time and

effort. You may even keep an eye on your account from afar. While traditional

banks have more visible locations and genuine customer contacts, they also

90
 demand more time and effort than digital banks. As a result, the responder

believes that the digital bank is handier than the traditional bank.

4. All responses claim that because there are no hackers or other such issues,

traditional banks are very secure. The respondent believes that because it

involves a personal relationship, any issues that may emerge are easily resolved.

Since traditional banks have fewer hackers and digital banks have security

problems, traditional banks are more secure than digital banks, however both

offer protection to bank customers who experience this kind of trouble.

5. Traditional banking, according to the majority of respondents, is practical in

terms of safety, earning money, and providing personalized services. They both

have interest as a result, but the interest rate in the digital bank is higher than the

conventional bank, and the transfer fees are lower as well, demonstrating that the

digital bank has greater benefits than the traditional bank.

6. The accessibility, speedy transactions, and ease of digital banks are largely

responsible for the respondents' favorable experiences with them. The majority

of respondents said they have positive experiences with the employees at

traditional banks since they are in-person and give savings with practical and

precise transactions. To sum up, both traditional and digital banks provide great

experiences, however in slightly different ways. For example, online transactions

are simple and quick, requiring no physical touch, as opposed to personal

interaction and money-saving chances in traditional banks.

91
 7. The majority of respondents expressed dissatisfaction with digital banking, citing

issues such as delayed information, offline services, outages, unsuccessful

transactions, and the demand for an internet connection. While the majority of

survey respondents reported that traditional banking required more time and

effort, one respondent claimed that using this bank was expensive due to transfer

fees, charges, and other transaction prices. As a result, they both need to improve

in order to provide better service.

8. Based on a combination or comparison of the responses of digital and traditional

bank users, digital banks are more practical than traditional banks since they are

more easily accessible, offer a variety of payment alternatives, and have more

advantages such as high interest rates and low operating expenses. Traditional

responses think that it is safer because there is physical interaction, making the

problem easier to solve. They both operate in distinct ways that are superior to or

ahead of one another based on a variety of factors.

Recommendations

After drawing the conclusions of the study, the researchers hereby make the

following suggestions or recommendations:

• It is recommended that bank clients in Tiaong, Quezon become more informed of

other banks besides BDO. They have the option of selecting a better bank.

Because everyone is living in the digital age, they should be more familiar with

digital banking, which is essential in this day and age.

92
• In terms of usefulness, traditional banks should be made more accessible by

developing a system in which branches of banks establish more outlets that bank

clients can easily access. Even though it is online, digital banks should increase

their aspects such as staff interaction.

• Since clients of banks have difficulties using traditional banking methods, it takes

additional time and effort. The researcher suggests that as a solution, customers

should choose a bank that is close to their home to save time and effort, or else

they ought to choose for digital banking if their home is far from the branch to

achieve convenience

• Since risk in money transfers was the respondents' main issue with utilizing

digital banks in terms of security. To prevent hackers, the researcher suggests

that the bank's owner use extra security measures like passwords and pins. They

should also update client information regarding the protection of their money to

give them peace of mind. In a traditional bank, there are some errors that must

be sold

• In order to give their customers with additional benefits, digital banks must

enable client interaction in the event of an emergency or mistakes that they could

occasionally encounter even when transacting online. In order to give extra

benefits, traditional banks need to open additional branches so that customers

can easily access them. They also need to raise interest rates so that customers

continue to choose them, and they need to offer other payment options like

online purchasing.

93
 • For negative experiences with digital banks, the researcher suggests that

information be provided quickly, especially if there is a transaction, and that

bank management should always maintain the operation of their bank and avoid

going offline because a bank is one of the necessities of every individual in

everyday life. They should also strengthen their error-resolution services.

• For negative encounters with traditional banks, the researcher suggests making it

more accessible in order to avoid excessive operating costs and to save time and

effort. They should always keep ATMs open so that people can use them

whenever they want.

• In order for customers to continue choosing or adopting trends, traditional banks

should incorporate a variety of payment choices even when digital banks have

evolved. Even though traditional banks were formed, digital banks still

encourage physical interaction even when conducting transactions online. This

way, if a customer has a problem with their money, it is simple to resolve it right

away.

APPENDICES

Permission Letter to the Selected Bank Client in Tiaong Quezon

May __, 2023

94
Mga Kinakapanayam,
Magandang Araw! Kami ay nagmula sa Grade 11 ABM-CPN ng Recto Memorial
National High School. Sa kasalukayan kami ay nagsasagawa ng pag-aaral na may
pamagat na Custumer Engagement Towards Banking Preferences of Selected Clients
in Tiaong, Quezon, bilang importanteng parte para sa aming asignaturang Practical
Research 1.
Bilang resulta, kayo ay aming napili bilang isa sa mga kakapanayamin ng aming
pag-aaral, at inaasahan namin na magbibigay kayo sa amin ng tamang oras para
sagutin ang aming mga katanungan nang walang halong kasinungalingan. Inyong
asahan na ang inyong mga impormasyon na ibinigay ay mananatiling sikreto at
gagamitin lamang para sa aming pag-aaral.
Maraming salamat sa inyong suporta at kooperasyon.

Gumagalang,

Mga Tagapanayam:

Ciriaco, Julia Karen M.

Marikit, Kc M.
Mortel, Charlie John A.
Venerable, Mhiel Ashley A.

Nabatid:

SARAH MAE A. LINMARK

Guro sa Practical Research 1

Permission Letter to the Parents or Guardian

Minamahal Naming Mga Magulang,

95
Nais po naming ipabatid na ang inyong anak na si Julia Karen Ciriaco, Kc Marikit,
Charlie John Mortel at Mhiel Ashley Venerable mula sa G11–ABM-CPN ay
magsasagawa ng interview sa ____________ para sa kanilang Practical Research 1
Isasagawa po nila ito upang mangalap ng impormasyon na kinakailangan nila
para sa kanilang Research.
Ang pag pirma po ninyo ay nangangahulugan ng inyong pagpayag sa inyong
anak. Maraming salamat po sa inyong pag-unawa!

Sumasainyo,

Sarah Anglo-Linmark
Practical Research 1 teacher.

______________________________
Pangalan at Lagda ng Magulang.

Survey Questionnaire

(For Digital Bank)

1. What is the digital bank that you mostly or commonly use?

Ano ang kalimitan o kasalukuyang bangko na iyong ginagamit

2. What can you say about the usefulness of using a digital bank?

Ano ang masasabi mo tungkol sa pagiging kapaki-pakinabang ng paggamit ng digital

bank?

3. What can you say about the convenience of using a digital bank?

96
Ano ang masasabi mo tungkol sa kaginhawahan ng paggamit ng digital bank?

4. What can you say about the security of using a digital bank?

Ano ang masasabi mo tungkol sa seguridad ng paggamit ng digital bank?

5. What are the benefits that you can get from using a digital bank?

Ano ang mga benepisyo na nakukuha mo sa paggamit ng digital bank?

6. What are the positive experiences that you encounter when using digital banking?

Ano ang mga positibong karanasan mo sa paggamit ng digital banking?

7. What are the negative experiences that you encounter when using digital banking?

Ano ang mga negatibong karanasan mo sa paggamit ng digital banking?

8. Why did you choose a digital bank over a traditional bank?

Bakit mo pinili ang isang digital na bangko kaysa sa isang tradisyonal na bangko?

(For Traditional Bank)

1. What is the traditional bank that you mostly or commonly use?

Ano ang kalimitan o kasalukuyang bangko na iyong ginagamit

2. What can you say about the usefulness of using a traditional bank?

Ano ang masasabi mo tungkol sa pagiging kapaki-pakinabang ng paggamit ng

traditional bank?

3. What can you say about the convenience of using a traditional bank?

Ano ang masasabi mo tungkol sa kaginhawahan ng paggamit ng traditional bank?

4. What can you say about the security of using a traditional bank?

Ano ang masasabi mo tungkol sa seguridad ng paggamit ng traditional bank?

5. What are the benefits that you can get from using a traditional bank?

Ano ang mga benepisyo na nakukuha mo sa paggamit ng traditional bank?

97
6. What are the positive experiences that you encounter when using traditional
banking?

Ano ang mga positibong karanasan mo sa paggamit ng traditional banking?

7. What are the negative experiences that you encounter when using traditional
banking?

Ano ang mga negatibong karanasan mo sa paggamit ng traditional banking?

8. Why did you choose a traditional bank over a digital bank?

Bakit mo pinili ang isang tradisyunal na bangko kaysa sa isang digital na bangko?

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