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This study aims at contributing towards enhancing the existing level of understanding with regard to the determinants of service quality and its effects on the behavior of customers in the Greek banking industry and narrowing the existing literature gap. We expect that the conclusions drawn will be welcome by the management of banking institutions and will be put to good use to progress their competitive market position. Previous research in international markets has shown that the corporate image of banking institutions to a large extend relies upon the excellence of their service delivery and their ability to sustain long-lasting relations with their customers. We hope our findings will become a useful basis for further research in the Greek or other financial services markets. A SERVQUAL type scale is developed especially customized for the Greek banking industry, assess the scale's reliability and validity and detect its factorial structure. Importance-Performance analysis is employed to provide strategic guidance to Greek banking institutions on deploying their quality efforts and resources towards better matching their customers' needs and expectations.
During the last decades the globalization, the intensified competition and the rapid changes in the socio-economic and technological environment had a major impact on the global economic, financial and business environments. Within this environment, it is clear that banking institutions worldwide face new challenges and increasing risks, as well as increasing business potentials. The recent experience shows that achieving a sustainable development of the banking system is not only of interest to the banking institutions themselves, but it is also directly related to the development of the whole business and economic environment, both at regional and international level. The variety of new banking products that is constantly being developed to accommodate the increased customer needs (firms, organizations, individuals, etc.) provides a clear indication of the changes that the banking industry has undergone during the last two decades. The establishment of new products of innovative processes and instruments for their requires the implementation efficient management. The implementation of such processes and instruments is closely related to a variety of disciplines, advanced quantitative analysis for risk management, information technology, quality management, etc. The implementation ofthese approaches in banking management is in accordance with the finding that empirical procedures are no longer adequate to address the increasing complexity of the banking industry.
Purpose - To analyze and compare service quality in the commercial banking sector of a small island economy - Cyprus - and to investigate the relationship between overall bank customer satisfaction in the Turkish- and Greek-speaking areas of Cyprus and positive word-of-mouth about their banks.Design/methodology/approach - A total of 268 commercial bank customers responded to a Greek and Turkish translated version of the SERVQUAL instrument. After descriptive and factor analysis, multivariate regression was used to estimate the impact of service quality dimensions on overall customer satisfaction and word of mouth.Findings - The responsiveness dimension failed to load and thus the SERVQUAL scale proved to be of a four-dimensional structure in this study. Research results revealed that the expectations of bank customers in both areas were not met and that the largest gap was found in the empathy dimension. The assurance dimension had the largest influence on customer satisfaction and overall satisfaction of bank customers in both areas of Cyprus had a positive effect on their word-of-mouth.Research limitations/implications - There were some difficulties in conducting interviews in the Greek-speaking area of Cyprus and this may have limited the potential sample size. Future research could test the generalizability of findings in other small island economies and look at how the service is delivered by frontline employees.Practical implications - Helps banks in both areas of Cyprus to redefine their corporate image to one that is customer-focused and driven by service quality. Findings are also significant for the Turkish-speaking area which is not at the same level of economic development as its neighbours in the south and needs to restructure its banking system before accession to the EU.Originality/value - This study investigates service quality in a small island economy. There is disparity in the banking sector of a divided Cyprus, where banks in the South have undergone significant restructuring before EU accession and banks in the North are affected by the economic crisis and need to restructure if they want to join the EU.
Purpose - To identify the ...
In this study, we examine the relationship among service quality, customer satisfaction and customer loyalty regarding e-banking services. We also evaluate and identify the service quality dimensions that impact customer satisfaction regarding Piraeus bank e-banking services using a modified SERVQUAL model. The data used in the research was collected a questionnaire sent to users of Piraeus bank electronic services in Greece. Regression and correlation analyses were used to analyze the collected data and test some stated hypotheses. Based on the results of the data analyses, we concluded that assurance and reliability have major effects on customer satisfaction. The results also show that there is a positive and strong relationship between service quality and customer satisfaction and between customer satisfaction and customer loyalty. Each of the SERVQUAL dimensions are also found to be highly correlated with service quality. What all these results indicate is that in order to increase customer satisfaction and loyalty, banks must improve service quality. Also from the results, we find that the correlation between customer satisfaction and service quality is higher than the correlation between customer satisfaction and customer loyalty. Finally, due to multicollinearity, two dimensions, assurance and tangibles; were excluded from the fitted regression model in the research. This makes us wonder whether, in fact, SERVQUAL model is appropriate for measuring the quality of e-banking services.
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.
The authors tested a modified SERVQUAL scale based on a survey of Pancretan Cooperative Bank's customers - in terms of a critical case study - in order to identify any differences in service quality satisfaction and its impact on the behavioral intentions of the bank's customers. Considering the BANKZOT model, the research intention was to: (1) identify the zone of tolerance (ZOT) of bank's services performance and customers' satisfaction level; (2) examine which of the service quality dimensions of the adapted SERVQUAL model contributed significantly to overall customer satisfaction and loyalty; and (3) examine if the ZOT of bank's services performance might successfully predict customer loyalty, market share and financial performance in an economic and debt crisis period. The data were collected by means of a structured questionnaire answered by 150 bank's customers from all over Crete (island of Southern Greece). Based on the research results, the authors were leaded to the conclusion that the ZOT of Bank's services performance might successfully predict customer loyalty, contribute substantially to the increase of the market share, and increase bank's financial performance, in an economic recession and banking crisis period. Research, practical and policy implications are summarized in the discussion section.
Service Quality is a buzz word to the corporate banks to sustain in the competitive environment. Numerous studies were conducted to examine the service quality determinants and customer satisfaction using SERVQUAL and modified SERVQUAL instrument. Few studies were conducted to understand the difference between the service quality perceptions based on demographic characteristics. The present study is an attempt to know the significant differences in the perceptions of customers from different locations of Andhra Pradesh towards the service quality determinants using service Quality instrument defined by Suresh Chander et al (2002). The study was conducted based on the primary data collected through 903 customers of select public and private sector banks. The results from the study support the hypothesis that domicile differences influence the service quality perceptions. Finally the study observed that the urban customers preferred the quality in core services whereas the semi urban and rural customers' opined human element is the most determining element on the satisfaction levels.
Bachelor Thesis from the year 2008 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 2, University of Applied Sciences Zurich, language: English, abstract: The Greek retail-banking sector has generated over the last couple of years excellent revenues with their branches network and expansion strategy to the neighbouring Balkan markets. The private sector and households mainly demanded banking products as deposits, consumer credits, mortgages- and building loans, credit cards and services as customer advisory, phone banking and Internet banking. Especially a strong competition between the traditional Greek retail banks (e.g. National Bank of Greece, Alpha Bank, Piraeus Bank etc.) the new retail bank entrants (e.g. Proton Bank, Millennium, Marfin Popular Bank etc.) and the indications for a slowly saturated market will force the Greek retail banks to focus more and more on new perspectives through customer orientation. The target of the thesis is to give on a transparent and structured way valuable knowledge what new perspectives through customer orientation are and what relation exist between customer-orientation process and a CRM framework in the Greek Retail Banking sector and how this can be used in a practical and methodical way.