Understanding user satisfaction in digital banking: Sentiment analysis and topic modeling of Indonesian bank reviews

Abstract

The development of digital banks in Indonesia has changed the way consumers access financial services, especially through mobile applications. This research aims to evaluate user satisfaction and engagement with five leading digital banks in Indonesia: Blu, Jago, Jenius, NeoBank, and SeaBank. The approach used includes sentiment analysis using the VADER, method and topic modeling with TF-IDF as well as temporal analysis to identify user review patterns from 2018 to mid-2024. Results show a positive correlation between sentiment scores and user ratings, where apps with high sentiment, such as Jenius and SeaBank, also have better ratings. In addition, there are spikes in reviews in certain periods, such as 2021 for NeoBank and Jenius, and 2024 for SeaBank, which coincides with the launch of new features or app updates. Quadrant analysis reveals the competitive position of digital banks based on user sentiment and engagement. The findings show the importance of app stability and service quality for user satisfaction. This research provides practical insights for digital banks in optimizing their service strategies and improving the overall user experience.