p–ISSN: 2723 - 6609 e-ISSN: 2745-5254

Vol. 4, No. 9 September 2023 http://jist.publikasiindonesia.id/

Doi: 10.36418/jist.xxxx.xxx 1316

ANALYSIS OF THE EFFECT OF BANKING PROGRAMS ON CUSTOMER

LOYALTY AT PT BANK MAYBANK INDONESIA JAKARTA

Fahrur Rozi

deposit money into a financial guarantor business entity such as a bank. According to

research published by (Ghozali, 2016) and (Keisidou, Sarigiannidis, Maditinos, &

Thalassinos, 2013), customer loyalty is an important outcome of customer experience in

the banking industry. The pursuit of understanding loyalty in banking has garnered the

attention of many scholars because it is both strategically and economically significant.

Therefore, research on customer loyalty in the banking industry is drawn from various

fields that fall under the umbrella of the term "multidisciplinary". These areas include

marketing, consumer behavior, finance, economics, and cognitive psychology. The

emergence of several fields of study in this domain did not happen by chance; Instead, it

Companies can increase customer loyalty by concentrating on developing long-

term, mutually beneficial relationships with their clients, in addition to providing high-

quality services and ensuring that their clients are happy with the services. (Taleghani,

Gilaninia, & Mousavian, 2011) writes in his journal "A Conceptuality Approach to

Relationship Marketing and Customers Loyalty to Banks" that according to him relational

companies are turning to relationship marketing. According to (Wuryaningsih, 2018),

relationship bonding is usually considered an effective method to maintain consumer

loyalty. According to (Apriliani, 2014), relationship marketing requires value production

as well as the maintenance of a sustainable long-term relationship between businesses

and their clients to pleasure each party involved. According to (Hidayat & Firdaus, 2014),

trust and commitment are the two main pillars that support relational marketing practices.

In other words, customers must trust the marketer and then commit to him before a

mutually beneficial relationship can be built in the long run. The readiness to rely on the

ability, integration, and motives of others to act to meet one's mutually agreed upon

demands and interests either tacitly or openly is one definition of trust. Another definition

This study uses primary data where the distribution of questionnaires as the main

result of this study with the help of additional supporting data such as literature review

and relevant research is also needed. The number of respondents studied was 50 people.

Data collection was carried out by distributing questionnaires or questionnaires on a

Likert scale of 1 to 5. Processed data taken in real-time in the field will get maximum

results by conducting quality tests. This test utilizes the results of the validity and

reliability of data worthy of being processed data. This study used a classical assumption

test to ensure the data had no bias on each variable. This study uses multiple linear

regression as a method to obtain results from the primary data obtained. This research

was conducted at the office of PT Bank Maybank Indonesia Jakarta which is located at

Maybank KPR Interest-Free (X4), Interest Bonus (X5), Arisan Retention (X6), and Cash

Back 100% (X7) on Customer Loyalty (Y). This study describes the demographics of

respondents based on gender, last education, and length of work can be seen in the

following table.

Table 1 displays the demographic data of respondents involved in this study. Three

demographic aspects were observed: gender, age, and occupation. This table provides an

overview of the characteristics of respondents who participated in the study. In terms of

while the smallest age group is respondents who are over 40 years old. Related to work,

this study involved various types of work. Based on the total respondents, 28% are private

employees, 34% are civil servants, 30% are entrepreneurs, and 8% are respondents with

other jobs such as content creators, employees of state-owned enterprises, and so on. So,

it can be seen that civil servants are the largest occupational group participating in this

study, followed by entrepreneurs and private employees. Overall, the study involved

respondents of different genders, age ranges, and occupational backgrounds. The

demographic data reflects the diversity of respondents in the study which can provide

diverse perspectives on the phenomenon studied.

A descriptive analysis is an analysis that aims to provide an overview or description

related to research variables.

validity test technique used is Product Moment Pearson Correlation. The number of

research respondents was 50 people so the r-value of the table with a significant level of

The reliability test results in Table 4 show that Cronbach's Alpha value of the

Maybank Gift variable (X1) is 0.625 > 0.60, the Top Up Reward variable (X2) is 0.684

In the first classical assumption test, the normality test is carried out to determine

the distribution of research data. Good data is data that is normally distributed. The

normality test of this study used the Kolmogorov-Smirnov Test. The normality test results

can be seen in the following table.

Table 5

Normality Test Results

The multicollinearity test is an assumption test that aims to determine the

correlation between variables. The requirement for the multicollinearity test is that the

tolerance value in all independent variables must be greater than 0.10 and the value of the

Variance Inflation Factor is less than 10.

Multicollinearity Test Results

Based on the test in Table 6 of the Collinearity Statistics section above, the

Tolerance value of the entire independent variable is > 0.10 with Variance Inflation <

10.00. Given the overall Tolerance value of the variable > 0.10 and the value of the

Variance Inflation Factor < 10.00, it can be concluded that there are no symptoms of

multicollinearity in the regression model.

The heteroscedasticity test is performed by looking at the Scatterplot image pattern.

The test results can be seen in the following figure.

Figure 1 Heteroscedasticity Test Results

Gambar 2 Hasil Analisis Regresi

In the results of multiple linear regression analysis between independent variables

and dependent variables, the regression equation can be arranged as follows:

Y = -12.422 + 0.547 X1 + 0.479 X2 + 0.179 X3 + 0.043 X4 + 0.554 X5 + 0.018 X6 +

0.288 X7 (1)

Loyalty (Y). The regression coefficient (β4) value of 0.043 shows the effect of Maybank

Interest-Free KPR (X4) on Customer Loyalty (Y). The regression coefficient (β5) value

of 0.554 shows the effect of Bonus Interest (X5) on Customer Loyalty (Y). The regression

coefficient (β6) value of 0.018 shows the effect of Arisan Retention (X6) on Customer

Loyalty (Y). The regression coefficient (β7) value of 0.288 shows the effect of 100%

Cash Back (X7) on Customer Loyalty (Y).

The t-test is used to determine the partial effect of each independent variable on

the dependent variable. Based on the test results in Figure 2 the significance value of the

variable X1 is 0.016, X2 is 0.028, X3 is 0.279, X4 is 0.738, X5 is 0.009, X6 is 0.925, and

X7 is 0.008. The significance value of the variable X5 is known to be smaller or < 0.05.

Interest-Free KPR (X4), and Arisan Retention (X6) partially have an insignificant effect

on the Customer Loyalty variable (Y), or in other words, hypotheses 3, 4 and 6 are

rejected.

The F test is a test that aims to determine the simultaneous influence between

variables.

Figure 3 F Test Results

In the test shown in the figure.3, it is known that the significance value obtained is

0.000 or < 0.05. Based on the results of the F test, it can be concluded that the variables

Figure 4 Results of Coefficient Determination

Conclusion

There seem to be several variables tested about changes in customer loyalty. These

variables include Maybank Gift, Top Up Reward, Cash Reward, Maybank KPR Interest-

Free, Interest Bonus, Arisan Retention, and Cash Back 100%. The results of the

coefficient of determination test show that these variables, when considered together, can

predict changes in customer loyalty by 65.6%. This shows that the variables tested have

a significant impact on changes in customer loyalty. However, there were still another

34.4% who were influenced by other variables that were not tested in this study. This

indicates that other factors influence changes in customer loyalty that need further