Customer Experience as a Predictor of Financial Behaviour: A Qualitative Exploration of How Digital Customer Journeys Influence Borrowing, Repayment, and Financial Discipline in Nigeria
Abstract
The rapid digitisation of financial services has transformed how consumers interact with financial institutions, influencing their borrowing patterns, repayment behaviours, and overall financial discipline. This study examined customer experience as a predictor of financial behaviour among users of digital financial services. Specifically, the study sought to: (1) investigate the influence of customer experience on digital borrowing behaviour; (2) examine the relationship between customer experience and loan repayment commitment; and (3) explore how customer experience shapes financial discipline among digital financial service users. The study adopted a qualitative research design and was anchored on Behavioural Finance Theory and Customer Experience Theory. Data were collected through semi-structured interviews with 45 users of digital financial services drawn from diverse demographic backgrounds. The data were analysed using thematic analysis to identify recurring patterns and insights. The findings revealed three major themes. First, seamless and user- friendly digital interfaces encouraged spontaneous and convenience-driven borrowing decisions. Second, clear, transparent, and timely communication from financial service providers strengthened customers’ commitment to repayment and reduced uncertainty regarding loan obligations. Third, digital nudges such as automated reminders, payment alerts, and personalised notifications promoted greater financial discipline and responsible financial behaviour. The findings further demonstrated that customer experience significantly influences financial decision-making by shaping users’ perceptions, trust, confidence, and engagement with digital financial platforms. The study concludes that customer experience is not merely an outcome of service delivery but a significant behavioural driver that influences financial choices and actions. Based on these findings, the study recommends that digital financial service providers should invest in intuitive platform design, enhance transparency in product information and communication, implement behaviourally informed digital nudges, and develop customer-centric engagement strategies that encourage responsible borrowing, timely repayment, and improved financial discipline. These measures will contribute to more sustainable financial behaviours and stronger customer outcomes in the digital financial ecosystem.