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Banking across the world has undergone extensive changes thanks to the profound influence of developments and trends in information communication technologies, business intelligence, and risk management strategies. While banking has become easier and more convenient for the consumer, the advances and intricacies of emerging technologies have made banking operations all the more cumbersome. Advances in Banking Technology and Management: Impacts of ICT and CRM examines the various myriads of technical and organizational elements that impact services management, business management, risk management, and customer relationship management, and offers research to aid the successful implementation of associated supportive technologies.
Research Paper (postgraduate) from the year 2014 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 65.00, University of Salford, course: Financial Services Management, language: English, abstract: This research was undertaken to examine the overall customer satisfaction with service quality delivered by Nigerian Banks through the use of ATM and to also ascertain whether some service quality factors exert a strong influence on the level of customer satisfaction; The concept of service quality has become eminent in every business discourse; a high service quality serves as an incentive for customers to come back due to satisfaction. To consistently maintain a high level of customer service, service firms must recognize that every aspect of their business has an impact on the customer. In this study, two types of data were collected; Primary Data and Secondary Data. This was necessary since it helped to add to the findings of the researcher. A simple random sampling and purposive sampling method were used. This ensured that every member of the population had an equal chance of being part of the sample. The sample size chosen was 200 bank customers. It was revealed in the survey that customers think that the banks need to improve on their quality of ATM services and a high number of the customers are willing to switch banks for the sole reason of an ATM that offers the highest service quality. The study also revealed some of the problems associated with the services provided by the ATM that the customers dislike and want to be adjusted, they are ATM cash out, the limit placed on daily withdrawal, Transaction error, slow response to dispute resolutions, Network problems, Long queues, Security issues and Card retraction.
Developing personal financial skills and improving financial literacy are fundamental aspects for managing money and propelling a bright financial future. Considering life events and risks that unexpectantly present themselves, especially in the light of recent global events, there is often an uncertainty associated with financial standings in unsettled times. It is important to have personal finance management to prepare for times of crisis, and personal finance is something to be thought about in everyday life. The incorporation of financial literacy for individuals is essential for a decision-making process that could affect their financial future. Having a keen understanding of beneficial and detrimental financial decisions, a plan for personal finances, and personalized goals are baselines for money management that will create stability and prosperity. In a world that is rapidly digitalized, there are new tools and technologies that have entered the sphere of finance as well that should be integrated into the conversation. The latest methods and models for improving financial literacy along with critical information on budgeting, saving, and managing spending are essential topics in today’s world. The Research Anthology on Personal Finance and Improving Financial Literacy provides readers with the latest research and developments in how to improve, understand, and utilize personal finance methodologies or services and obtain critical financial literacy. The chapters within this essential reference work will cover personal finance technologies, banking, investing, budgeting, saving, and the best practices and techniques for optimal money management. This book is ideally designed for business managers, financial consultants, entrepreneurs, auditors, economists, accountants, academicians, researchers, and students seeking current research on modern advancements and recent findings in personal finance.
In nineteenth century, banking segment of service sector reported highest growth in India. Today banking has become a part of our life. Banks fulfill the financial needs of every segment of society like rural artisan, farmers, industrialist and government. Banking segment of service sector make a payment to increase the pecuniary development of any country by transforming financial resources in to productive resources. Hence banking becomes necessity for economic, agricultural and industrial development of an economy. Now a day, banking becomes necessary for every commercial activity. Banks are the largest depositors of people's saving and largest lender of money. Today, one cannot suppose to seize banking services for a single day because without banking no financial transaction takes place. If the banks stop working for some days, a situation of financial crises may arise. The present study is divided into five chapters. The first chapter provides an insight into the concept and consequences of banking, service quality and customer satisfaction. Second chapter presents a review of major research work done in the field of measurement of service quality and customer satisfaction particularly in banking sector. The third chapter offers research methodology adopted for the study. The forth chapter deals with the analysis part of the study and the fifth chapter assembles, the findings and conclusions and suggest some suggestions to the higher authorities of the bank to improve quality of services provided by the studied bank. I always remain thankful to all from whom I have gained knowledge during my studies and who have provided help and assistance in the successful execution of this research work. I shall be failing in my pious duty if I don't express my deep sense of gratitude to my supervisor, Dr. HemaGulati, Assistant Professor, for her intellectual, creative and affectionate support throughout the course of the study. Her constant guidance and motivation enabled me to go into this endeavor with great zeal and zest. I am deeply indebted to her not only for sparing her precious time enthusiastically but also stimulating discussions and valuable suggestions. I feel it all the more necessary to mention and record my heartily thanks to staff of libraries of MaharshiDayanand University, Rohtak; D.A.V. Institute of Management Faridabad; DAV Girl's College, Koslifor their cooperation in collection of data, literature and other information.
Now in its 3rd edition, Financial Services Marketing offers a balanced and useful guide to the topic that is both conceptual and practical. The authors have drawn from extensive international experience to ensure that this text will resonate with users across the globe. This edition is complemented by numerous international references, examples and case studies featuring companies such as American Express, Direct Line, Barclays, NatWest RBS, Aviva and HSBC. This fully updated and revised edition features: An expanded section on regulation which has international reach and addresses the post-Brexit world Greatly expanded coverage of digital marketing at both the strategic and tactical levels New material on how to improve a company’s trustworthiness and safeguard a culture that is customer-focussed New examples, vignettes and case studies that showcase best practice from around the world B2B and B2C marketing Upgraded PowerPoint support on the companion website Financial Services Marketing 3e will be hugely beneficial to academic students of marketing and finance, as well as essential reading to those industry-based and studying for professional qualifications.
Quality and satisfaction are the key indicators of corporate competitiveness. Measurement of customer satisfaction based on the service quality is to be done independently and objectively to establish baseline for improvements in service delivery. Assessing customer satisfaction periodically allows bank management and policy makers to identify customers’ needs, expectations, perception and the perception- expectation gaps. The current study covers a comparative analysis of service quality and customer satisfaction among the customers of public and private sector commercial banks in Kerala. The research questions that are addressed in this study are on expectations and perceptions of retail customers from their preferred banks, relationship between service quality and customer satisfaction and the difference between the satisfaction level among private and public- sector banks in Kerala. In order to answer the above research questions, the problem is stated as “Service Quality and Customer Satisfaction- a Comparative Study between Public Sector and Private Sector Banks of Kerala.” A descriptive and analytical research was carried out by collecting responses from customers of three prominent banks from private and public sector each. This was done through an online structured questionnaire based on SERVQUAL model during July 2015 to July 2016, prior to SBI consolidation. Primary data is analysed using SPSS (V.21). Kolmogorov- Smirnov Test for the Normality is used to ensure normality of data distribution, Cronbach Alpha coefficient is used to measure reliability and validity is tested with the panel of experts. Mean, S.D. percentage, cross tabulation are used for descriptive and univariate analysis. Structural Equation Modelling, Confirmatory Factor Analysis and regression path analysis are used to conduct inferential and multivariate analysis. Z-test, Independent T-Test, Chi-Square, ANOVA Pearson Correlation, and post hoc tests are used for testing of hypothesis and comparative analysis. Modelling is done using Structural Equation Modelling approach and Path Analysis. The study reveals that the antecedents of customer satisfaction of retail banking customers of Kerala are reliability, assurance, empathy and tangibles. Responsiveness dimension do not affect customer satisfaction of banks in Kerala. There exists a gap between expected service quality and perceived service quality. Study reveals that there is significant positive correlation between service quality and customer satisfaction in the retail commercial banking services in Kerala. The level of customer satisfaction in public sector banks and private sector banks are not significantly different but same. Similarly, it is also found that, there is no significant difference in the customer satisfaction between sample banks like State Bank of India, State Bank of Travancore, Canara Bank, from public sector and Federal bank, South Indian bank and ICICI bank from private sector.
ABSTRACTThis study is an in-depth empirical investigation that seeks to compare consumer expectations to perceptions in the delivery of service within community banks in the southern United States. It has as its aim to develop a useful instrument to evaluate service quality by comparing consumer expectations to their perceptions of delivered service. An additional purpose is to determine bank chief executive officers? ability to predict consumer expectations in the area of service delivery. The theoretical portion of the study focused upon a review of the history of banking in the United States and its subunit, the State of Texas, which is uniquely different from the banking systems of Europe and Asia. The literature was also examined to review service quality and customer satisfaction. In order to examine methods to predict service quality in community banks, an investigation was carried out among consumers of fifteen community banks in the southern United States. The collection of the data was driven by six research hypotheses and involved two questionnaires. One questionnaire ask for customer expectations versus perceptions. A second questionnaire required the chief executive officers of the consumers? banks to state their perceptions of what their consumers expected in the way of service delivery. The main findings of the research built upon and extended the research by Ittner and Larcker (1996) which noted that the three prime components of customer satisfaction revolved around three specific antecedents?perceived quality, perceived value, and customer expectations, the study strongly reinforced and confirmed the importance of the three antecedents. This study indicated that while expectations are very high, perceptions are also high, but not as high as expectations. Milligan (1995) advanced the idea that it should be obvious that the element of service quality was the primary driver in bank selection, but no confirmation study was made by him or others comparing the five factors (service quality, location, advertising, recommendation of others, and service charges/fees). This study concluded that service quality was the most important factor in the selection of a community bank in the southern United States. With no specific literature relating specifically to bankers? perceptions of service delivery expectations by consumers, one of the most significant findings in this study noted that 77.3 percent of the responses to the questions indicated a match of bankers? perceptions with consumers? expectations. While outcomes indicated that perceptions were equal to or greater than expectations, this does not conclusively prove that satisfactory service quality will tend to be associated with outcomes equal to or above expectations. This could indicate that the customers did not expect much in the way of outstanding service. Based upon results obtained from surveys, there appears to be a high likelihood that a bank could reasonably predict the retention of customers using the overlaid plots that in this study show high expectations and high perceptions. However, this study could not conclusively substantiate that gender, income, and education impact service quality in community banks. Given the limited amount of literature relating to the delivery of service quality by community banks in the United States, this study provides both researchers and practitioners an empirical study of both consumers? and bankers? expectations and perceptions of service delivery, which had not been fully explored in the past.
Research Paper (postgraduate) from the year 2013 in the subject Economics - International Economic Relations, grade: A, ( Atlantic International University ) (School of Business and Economics), language: English, abstract: The study explores the relationship between service quality and customer satisfaction on customer loyalty with regards to services provided by All Needs Supermarket, located in Takoradi. To achieve the objective of the study, quantitative method was used for the statistical analysis and convenience sampling for selecting customers. The researcher used the self-administered questionnaire as a method for collecting data from the sample consists of 101customers randomly selected from the population frame. The results show that both service quality and customer satisfaction significantly affect the level of customer loyalty of the customers of All needs supermarket, Takoradi. It was therefore, recommended that staff of All needs supermarket should pay special attention to their service quality and the factors that drive customer satisfaction.
Interest in Financial Services Marketing has grown hugely over the last few decades, particularly since the financial crisis, which scarred the industry and its relationship with customers. It reflects the importance of the financial services industry to the economies of every nation and the realisation that the consumption and marketing of financial services differs from that of tangible goods and indeed many other intangible services. This book is therefore a timely and much needed comprehensive compendium that reflects the development and maturation of the research domain, and pulls together, in a single volume, the current state of thinking and debate. The events associated with the financial crisis have highlighted that there is a need for banks and other financial institutions to understand how to rebuild trust and confidence, improve relationships and derive value from the marketing process. Edited by an international team of experts, this book will provide the latest thinking on how to manage such challenges and will be vital reading for students and lecturers in financial services marketing, policy makers and practitioners.