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AN EXPLORATION OF THE USE OF MUSIC TO ALLEVIATE STAKEHOLDER EXPERIENCE IN 

THE BANKING SECTOR 

 

Adebanjo, Paul Obayomi 

BA(ED) Music – EKSU, MA(ED) Music –UNILAG 

email:Pobymusicconcept@gmail.com 

Mobile Number: 08038600558 

 

ABSTRACT 

Bank stakeholders and bank employees face various stress challenges daily, thus necessitating mitigation of the 

negative impacts of these stress challenges on customer behavior, employee productivity, product awareness, and 

organizational growth for effective service delivery. Music has been extensively researched by scholars across 

multiple disciplines as an effective therapeutic tool to alleviate stress encountered by individuals in various professions 

and walks of life .The effects of music on the bank stakeholders and bank employees are not visible most time but, it 

can be apparently felt and seen through emotional and psychological reactions. Hence, the paper explored the effects 

of music in the banking sector by investigating its impacts on the bank customers, bank employees, bank stakeholders 

and bank products.  It delved into the use of music in the banking sector and selected branches of the Skye Bank Plc. 

(Polaris) in Oyo state Nigeria were used as case study. The paper explored the use of music as stress relief for the 

bank employees and bank customers as well as a form of advertisement to mesmerize bank stakeholders to a new 

product. The paper employed both quantitative and qualitative design method in a descriptive approach to analyze its 

results. The paper gathered information from an archive and questionnaires were given to the participants 

(respondents). Results revealed the significant effects of music in the banking sector cannot be overemphasized, its 

impacts range from stress relief to advertisement among others. 

Keywords: Skye Bank, Polaris Bank, Banking, Music, Stakeholders, Bankers. 

 

INTRODUCTION 

MUSIC 

Music is a universal language, connecting people to their environment and each other. Its complex nature and diverse 

interpretations across cultures make its definition unrestricted to any particular tribe, culture or class. Music evokes 

emotions, stimulates physical responses, and fosters a deep psychological connection. Music serves as means of 

entertainment and relaxation among tribes and cultures. In essence, music can be used as tool to cushion stress and 

boredom across various professions such as banking. Eyiuche (2014), posits that “Music, particularly the ones pleasant 

and soothing, provides the tonic for the optimal existence and it is the perfect tool to help one realize the emotional 

tension“. May (2022), explains that music is a consequence of the interaction between people and sounds. May’s 

comment, reveals connection between persons and their social-cultural environments characterized with diverse 

musical sounds such as religious processional sounds, office background music, party music, ritual music among 

others .Music is the logical arrangement of sounds. According to Afolabi (2012), “Music deals with sounds of various 

heights and depths such as fine artists use colors of various types: green, yellow, white among others to create artistic 

impressions. These sounds are arranged in logical manner to form what is called music.” In essence, Afolabi’s study 

explains that music is produced when sounds are arranged in reasonable order. Music application in various industries, 

such as marketing, healthcare, and education, has shown promising results. Music can also be used to create a sense 

of drama or excitement, increasing consumer arousal and engagement (Areni & Kim, 1993). The cultural associations 

of music can impact consumer perceptions, with different genres, styles and evoke distinct cultural meanings (Lamont, 

2013). 

 

BANK AND BANKING  

A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into 

lending activities either directly by loaning activities or indirectly through capital markets. A bank is a connection 

between customers that have capital deficits and customers with a capital surplus. A bank is also a financial institution 

licensed as a receiver of deposits. Two types of banks are mostly regulated by the national government or central, they 

are commercial/retail banks and investment banks. Banking refers to “the business or practice of operating a bank, or 

the provision of financial services, such as accepting deposits, making loans, and facilitating transactions” (American 

Heritage Dictionary, 2018) 

 

Banking is a fundamental sector in the global economy, providing essential financial services to individuals, 

businesses, and governments. Banking’s rich history dates back to ancient civilizations, and thus it has evolved over 



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time to meet the changing needs of society. Banking plays a critical role in facilitating economic growth, stability, and 

development. Despite its significance, the banking industry has traditionally been associated with formalities, 

professionalism, and seriousness. However, recent studies have highlighted the importance of exploring 

unconventional approaches to enhance customer experience, employee engagement, and overall performance. One 

such approach to consider is the integration of music in banking.  

. 

MUSIC IN BANKING 
 Music is an important factor to build an impressive in-store experience in a given time and environment. Music in 

banking environments can significantly impact the ambiance, customer experience, and employee productivity. 

Listening to music can improve mood, reduce stress, and increase focus. In the context of banking, music can create 

a welcoming atmosphere, making customers feel more at ease while waiting in line or discussing financial matters 

with bankers. Moreover, music can influence the emotional state of bankers, leading to improved job satisfaction and 

reduced burnout. A study by Adeniyi and Lawal (2019) found that music exposure can enhance cognitive skills, 

creativity, and memory among learners. In essence, the use of music in the banking sector can potentially lead to better 

performance and decision-making among bankers. However, it is crucial to consider the type of music played, as it 

may impact stakeholders differently. For instance, upbeat music might appeal to younger customers, while more soft 

music might be preferred by older patrons. Additionally, music volume and personal taste can affect individual 

experiences. Music's impact on consumer behavior in retail settings has been extensively studied by many scholars.  

 

Yalch (1991) asserts that music can influence consumer mood, perception, and purchasing decisions. Similarly, 

Milliman (1982) found that music's tempo and volume can significantly impact consumer behavior, with faster tempos 

and louder volumes increasing arousal and stimulating purchases. The atmospheric effects of music on consumer 

emotions and perceptions have been explored by various researchers. For instance, Alpert (1990) discovered that the 

genre of music played in retail settings can influence consumer demographics, with different genres appealing to 

various age and gender groups. In essence, the type of music played in the banking sector, determines its effect on the 

consumer. Thus, music can be used to create a sense of nostalgia, evoking positive emotions and increasing consumer 

loyalty.  

 

STATEMENT OF PROBLEMS 

The banking sector faces significant stress challenges during downtime, affecting both staff and stakeholders. 

Specifically, bank employees experience heightened stress levels when attending to large crowds amidst slow network 

and after network restoration. Additionally, downtime events strain customer relationships, making it challenging for 

banks to regain customers trust in specific products or services. Hence, the study explores music’s use in alleviating 

these stress challenges.    

  

 AIMS AND OBJECTIVES   

This study aims to investigate the use of music in banking, exploring its potential to enhance customer satisfaction, 

employee productivity, and overall bank performance. Hence the aims and objectives are stated: 

● To find out music’s role as means of communication and advertisement in the banking sector 

● To find out the emotional and psychological impacts of music on the bankers, customers and stakeholders 

● To explore how music in banking advertisements can create an emotional connection with consumers, 

influencing their interest and patronage, rather than solely relying on logical appeals, thereby highlighting the 

strategic use of music in shaping consumer responses and decisions in the banking sector 

         

RESEARCH QUESTIONS 

1. How does music influence customer behavior and emotions in banking environments, particularly during system 

downtime or long queues? 

2. What is the impact of music on the emotional and spiritual experiences of banking stakeholders, including customers 

and bankers? 

3. Does music have a significant effect on the banking sector, including customer satisfaction, banker performance, 

and overall stakeholder engagement? 

 

SCOPE AND DELIMITATION 
This study explores music's use in alleviating customer behavior, banker performance, and stakeholder engagement 

in the banking sector. It is delimited to two branches of Skye Bank Plc (Now Polarise Bank) in Oyo State, southwest 

Nigeria. The branches include, Skye  Bank Plc  Oyo branch, and Skye Bank Plc  Bodija branch in Ibadan. 



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DEFINITION OF TERMS 

a. Consumers: As used in this study refers to bank customers and stakeholders 

b. Stakeholders: As used in this study, includes customers, bankers, investors, and employees who are impacted by 

music in the banking sector and have a vested interest in the bank's performance and success.  

 

THEORETICAL FRAMEWORK 

This study is grounded in the Atmospheric Theory (Kotler, 1974), which posits that the physical environment (Music 

as a stimulus) influences consumer emotions, perceptions, and behaviors in commercial settings. Specifically, this 

research draws on Bruner's (1990) extension of the theory, emphasizing the critical role of music in shaping the 

atmospheric mix and its impact on consumer experience. 

 

HISTORY OF SKYE BANK 

Skye Bank Plc. was established in 2006, with roots tracing back to 1989 when Prudent Bank Plc. was incorporated as 

a Limited Liability Company. In 1990, it obtained a Merchant Bank license and rebranded as Prudent Merchant Bank 

Limited. In 2006, Prudent Merchant Bank Limited merged with another bank to form Skye Bank. However, Polaris 

Bank was established by the Central Bank of Nigeria (CBN) on September 21, 2018, to provide commercial banking 

services to the Nigerian public. On the same day, Polaris Bank commenced operations, acquiring the assets and 

assuming certain liabilities of the defunct Skye Bank. With over 350 branches nationwide, Polaris Bank delivers 

exceptional customer experience through cutting-edge Information Communication Technology (ICT). By focusing 

on ICT solutions across multiple service channels (mobile banking, ATMs, POS, and online platforms), Polaris Bank 

maintains a vital role in Nigeria's banking industry, offering customers simple, convenient, and secure banking 

services.  

 

USE OF MUSIC IN SKYE BANK PLC'S ADVERTISING (POLARIS BANK PLC.) 

Skye Bank Plc. leverages music in various advertising channels, including ATMs, TV, and radio ads. Music plays a 

crucial role in captivating audiences and encouraging patronage of their bank and products. At Automated Teller 

Machines, customers can operate instant withdrawals and deposits, accompanied by the song "Hakuna Matata" by 

Cobhams. Skye Bank also utilizes other songs, such as "I Wish I Had a Friend,"in their advertising campaigns. In one 

advert, Cobhams is featured playing the piano with Island. Additionally, the song "Skye Bank Always Saying Yes to 

Your Dreams" is used as a festive tune in 31 branches since September 2011 and has been featured in ATM, TV, and 

radio advertisements. 

 

EFFECT OF MUSIC ON BANK, BANKERS, AND CUSTOMERS 

Music is vital to bankers, serving as a source of motivation and stress relief. It helps bankers stay focused and energized 

throughout the day. Music also plays a crucial role in shaping customers' perceptions of the bank through advertising. 

It creates a welcoming atmosphere, making customers feel at ease in the bank hall, even during slow service periods. 

Overall, music has a profound impact on both bankers and customers, fostering a positive experience and encouraging 

loyalty to Skye Bank. 

 

METHODOLOGY 

This study adopts a tripartite approach, comprising pre-field preparations, actual fieldwork, and post-field analysis. 

 

Pre-Field Preparation 

Prior to fieldwork, an extensive literature review was conducted to explore relevant studies and publications. This 

involved searching libraries, national archives, and the internet for relevant materials, including books, journals, 

newspapers, and magazines. Research assistants were also employed to establish contacts with key informants and 

facilitate data collection. 

 

Actual Field Work 

This study employed ethnographic techniques, including in-depth interviews with key informants from Skye Bank Plc 

and participant observation methods. A questionnaire was administered to bankers and bank stakeholders to collect 

relevant data on the roles and effects of music in the bank sector. 

 

 



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Post Field 

The collected data was collated, codified, and analyzed using simple percentage analysis. Tables of descriptions were 

computed to reveal the outcomes of this study. This methodology ensured a comprehensive and rigorous approach to 

investigating the impact of music on Skye Bank's advertising and customer experience.  

 

SOURCES OF DATA 

The design used in the paper were gathered from two main sources which are primary and secondary sources. 

Primary source refers to the basic means of obtaining and collecting information from archive such as library, 

textbooks, articles, some journals were also used. 

Secondary source is the case study method of setting desired information that is needed for the research. This includes 

the questionnaires given to the participants. 

. 

FINDINGS 

The results made by the researcher meet the research purpose. A table of a description showing the responses and 

opinions of respondents was computed for items in the questionnaire. These are analyzed using the simple percentage 

of the bankers sampled. Tables 1-12 reveal the outcome of this paper. Table 1 

 

S/N BANK BRANCHES P R P% TOTAL 

1. Agbowo Branch 9 9 100 9 

2. Oyo Branch 10 10 10 10 

  

NB: 

P -Participants 

R – Returned Questionnaire 

P% - Participants Percentage 

AGB- Agbowo Branch 

OYB- Oyo Branch 

 

Table 2: Respondent opinion on the question “In what way do your bank make use of music as one of the staff?” 

S/N                                          NUMBER OF ITEMS AGB OYB 

1. It is used in the advertisement of Skye Bank to mesmerize 

customers and introduce them to new product 

100% 100% 

  

Table 3: Respondent opinion to the question “Where do you love to listen to music as a banker? 

S/N                                      NUMBER OF ITEMS AGB OYB 

1 At Home only 7 8 

2 At office 2 2 

3 Both 9 10 

   

Table 4:Respondent opinion on the question “What is the effect of music on you as a banker?” 

S/N NUMBER 

OF   ITEMS 

AGB % OYB % 

1. Stress relief 9 90 10 100 

2. Distraction - - - - 

  

Table 5: Respondent opinion to the question “Justify the use of music in the advertisement of Skye Bank Plc. in 

Nigeria?” 

S/N                   NUMBER OF ITEMS AGB % OYB % 

1                            Strongly agreed 9 100 10 100 

2                            Strongly disagreed NIL O NIL 0 

  

 



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Table 6: Respondent opinion to the question ‘Do you like to listen to music while at work?’ 

S/N                  NUMBER OF ITEMS AGB % OYB % 

1.                            YES 9 100 8 80 

2.                             NO - - 2 20 

  

Table 7: Respondent opinion to the question ‘Justify the fact that soul songs are emotional and spiritual and can 

mesmerize customer to the bank products’ 

S/N                   NUMBER OF ITEMS AGB % OYB % 

1.                            YES 9 100 8 80 

2.                              NO        - - 2 20 

  

Table 8: Respondent opinion to the question ‘Is it true that music makes customers to be tolerant when systems are 

down?’ 

S/N                   NUMBER OF ITEMS AGB % OYB % 

1.      Strongly agreed  3 33.34 4 40.00 

2.      Agreed                                                        2 22.22 3 30.00 

3.      Strongly disagreed   2 22.22 3 30.00 

4.      Disagreed   2 22.22 1 10.00 

  

Table 9: Respondent opinion to the question ‘Is it true that music makes customer have a good time in the bank?’ 

 

S/N               NUMBER OF ITEMS AGB % OYB % 

1.                   YES 8 88.89 7 70.00 

2.                    NO 1 11.11 3 30.00 

                   Total 9 100.00 10 100.00 

  

Table 10: Respondent opinion to the question’ Is it true that music makes customers less boring, calm and patient 

when on long queue?’ 

 

S/N              NUMBER OF ITEMS AGB % OYB % 

1.                  YES 6 88.89 6 60.00 

2.                   NO 3 33.33 4 40.00 

                    Total 9 100.00 10 100.00 

 

CONCLUSION 

The effects of music in the banking sectors are internally and externally felt by both bank and its stakeholders. It is an 

indisputable fact that music has gone beyond its use during religious rites only but, also has great influence in every 

sphere of life. By carefully selecting music, banks can create a positive ambiance, enhance employee performance, 

and foster a welcoming atmosphere during banking period. In summary , the strategic integration of music in banking 

settings profoundly impacts the industry’s ecosystem , significantly enhancing employee productivity , customer 

satisfaction, and product awareness, ultimately contributing to a more favorable and effective banking environment. 

 

 

RECOMMENDATION 

 The banking sector should adopt and integrate music-based strategies into their operations, by incorporating calming 

music in customer areas, uplifting music for employees, and music-themed branding to enhance customers experience, 

boost employee morale and productivity, and foster a relaxing banking activities. By examining the intersection of 

music and banking, this research seeks to contribute to the growing body of knowledge on innovative approaches to 

banking and finance. 

 

 

 

 

 



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