Phakathi, Nyameka2024-07-032024-07-032022University of the Witwatersrand, Johannesburghttps://hdl.handle.net/10539/38829A research project submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfillment of the requirements for the Degree of Master of Management by Research (MMR). Johannesburg, 2022While significant studies exist on service quality, customer satisfaction and customer retention in private banking, little focus has been placed on young professionals within private banking in South Africa. Using the SERVQUAL model, guided by the study’s objectives, the study aimed to assess the impact service quality has on customer satisfaction, examine the impact of service quality on customer retention and establish service quality perceptions held by customers in relation to the value of private banking. Furthermore, the study sought to examine the relationships between customer satisfaction and customer retention in the context of private banking in South Africa. The integrative nature of the research strategy, design and philosophy prompted using quantitative research methodologies, drawing theoretical constructs from extant literature on service quality, customer satisfaction and customer retention. Quantitative analysis was used to determine the impact of service quality on customer satisfaction and customer retention, collecting data through self-administered questionnaires distributed to 281 private bank customers. The study found that while service quality is a significant determinant of customer satisfaction, tangibles and empathy have the most negligible impact and that service experience positively impacts customer satisfaction. In addition, while digital adoption is highest amongst young professional customers, the study found that human factors linked to three service quality dimensions, i.e., responsiveness, reliability, and assurance, significantly affect customer satisfaction and require particular focus in private banking. The study’s findings have significant repercussions for re- shaping service quality in private banking for young professionals. The study offers a framework that integrates three service quality theories that can be utilised as a guide for improving service quality in private banking in South Africa and other countries, thereby increasing the knowledge base in the area of young professional banking. Future research could focus on the impact of employee competency, loyalty and brand image on customer satisfaction and retention.en© 2022 University of the Witwatersrand, Johannesburg. All rights reserved. The copyright in this work vests in the University of the Witwatersrand, Johannesburg. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of University of the Witwatersrand, Johannesburg.Private BankingYoung professionalsCustomer SatisfactionService qualityCustomer RetentionService Quality PerceptionsService ExperienceService ExperienceUCTDSDG-8: Decent work and economic growthDissertationUniversity of the Witwatersrand, Johannesburg