Coopetition and customers’ experience in the Nigerian banking sector: The moderating effect of technology

Abstract

Coopetition, which is a combination of competition and collaboration, has engendered a lot of discussions in recent times. The study examines the effect of coopetition on customers’ experience in the banking industry using technology as a moderator factor. The study utilised common risk management, strategic alliance, common network governance, sales of common financial product and common central procedure as measures of coopetition. Employing the survey research design, customers from 21 deposit money banks were sampled. 1,537 structured questionnaires were administered to the customers of these deposit money banks. The study applied the PLS-SEM in the analysis of data. The results reveal that the dimensions of coopetition have a significant effect on customers’ experience as it relates to service encounter. The study concludes that coopetition and technology are significant drivers of customers’ experience. It recommends that banks should engage in coopetition to improve their service delivery and enhance positive customers’ experience. Firms should also invest more in technology to enhance their coopetition strategy.

Keywords: Collaboration, competition, coopetition, customers’ experience, value creation