customer satisfaction in banking sector literature review

So again we can’t ignore that customer satisfaction of the major factors. (2016). Banks are more determined to retain their existing customers by providing quality services leading to Customer satisfaction. We also use cookies to verify your financial information and identity and for fraud prevention purposes. Therefore, organizations must market share. Customer satisfaction refers to the extent to which customers are happy and delighted with the products and services provided by a business. banks and financial intermediaries. Banks are more determined to retain their existing customers by providing quality services leading to Customer satisfaction. Moderating Role of Brand Image With Relation to Internet Banking and. An empirical investigation of customer satisfaction and. To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser. BANK, banking: Impact on customer satisfaction and loyalty. Literature Review Customer Satisfaction Concept of customer satisfaction has a central position in marketing as it is a major outcome of marketing activity and it links the processes of purchase and consumption or use of the product or service to attitude change, … In the, competitive and dynamic environment it becomes mandatory to find out the customer, Banking industry has changed drastically. The main concern of this literature review based study is to find out the factors which really, contribute to customer satisfaction which will further help to the bank management to assess the. With everyone offering nearly the same products and services without much room to compete on price, the experience customers have with their banks is what gives one bank a competitive advantage over another. Introduction: Customer satisfaction is an ambiguous, abstract and confusing concept. This empirical research study mainly focuses on investigating the major factors that influence online customers’ independent variable. technology play an important role in satisfying the customer specifically in the case of banking. Enter the email address you signed up with and we'll email you a reset link. You’ll be able to explore your marketing efforts, the friendliness of your customer interactions, and more. 1.0 Background to the study.. for service model in banking sector and customer satisfaction. Internet Banking. Due to Continues growth of technology, increasing customer base, evolution of alternate banking channels, has changed the way of banking services, so hence the customer satisfaction. Cookies help us provide, protect and improve our services. According to a, of our research, loyalty of customers with different intensities transforms into a potential, purchase of additional banking products. Banking is a customer oriented service industry and customer satisfaction has become the most important aspect of any banking business due to immense competition. They found that public sector banks are less profitable than private sector banks. 65-78 Posted: 25 Jul 2014 satisfaction with the overall service quality of their banks. It has changed consumer behaviour in many ways, including financial transactions formerly requiring a visit to a bank branch to achieve. Findings of, have accounts in two different banks, in comparison with Slovakia where 52% of respondents, changed their account to another bank (12% in Poland, 28% in Hungary and 42% in Romania), foreign shows that customer are more satisfied with the services quality of the foreign banks. The study used tables, percentages, chi-square independency test to see the relationship between demographic characteristics and e-banking, independency t-test to see the visits of branches before and after e-banking by customers is significant or not and regression analysis test has been conducted to explain the variables which determine customers’ satisfaction in e-banking. V. LITERATURE REVIEW Literature survey was primarily based on the articles and research papers available both online and ... responsiveness are some of the factors affecting customer satisfaction in E-Banking. This paper is based on extensive literature review and attempts to … important predictor of overall banking service quality. Keywords: Customers’ satisfaction, Banking services, Private & public banks, Expectations & perceptions, SERVQUAL. Pont, M., & McQuilken, L. (2005). Peer-review under responsibility of the Organizing Committee of BEMTUR- 2015 doi: 10.1016/S2212-5671(16)30247-7 ScienceDirect Available online at www.sciencedirect.com 3rd GLOBAL CONFERENCE on BUSINESS, ECONOMICS, MANAGEMENT and TOURISM, 26-28 November 2015, Rome, Italy Customer Satisfaction in the Banking Sector : The Case of North Cyprus Nesrin Ozataca*,Tulen … According to the findings of the, research. With the rapid and extensive increase in technology, innovation and telecommunications, new distribution channels in the financial sector are coming up rapidly, in numbers as well as in form, from ATMs, telephone banking, with Internet Banking being one of the latest in the chain of technological wonders. Background of the Study. Ethnicity and customer satisfaction in the, Machogu, A. M., & Okiko, L. (2015). The general purpose of the study is to investigate the impact of electronic banking on customer satisfaction in Guarantee Trust bank plc. ii CERTIFICATION The undersigned … The biggest potential interest of the bank customers, was in depositing savings in the bank and in mortgage loans. Other factors like employee behavior, their, friendliness, politeness, cooperation, promptness, efficiency. 2. Customer satisfaction surveys are your opportunity to learn more about not only your customer’s satisfaction levels, but also the banking industry and the choices your company makes to improve its attractiveness on the market. First, your current customers are far more likely to open more accounts or use more services if they’ve had an overall positive experience. (2009). for service model in banking sector and customer satisfaction. To protect or gain market shares, organizations need to outperform competitors by offering high quality product or service to ensure satisfaction of customers… ...A Literature Review and Critique on Customer Satisfaction LIU Huiqun1, ZHAO Xin2 1. delivery channels for online customers and faster resolution of issues. In the last of the study he have discussed that banking service providers should follow right course of action to win customer satisfaction by providing better service quality in order to create … Electronic banking has impacted Nigerian banking Industry in a tremendous way. Abhijith et.al. The introduction of internet banking in to the banking sector is to bring customer satisfaction there by to enhance the banks‟ profitability. Every bank is trying to retain, and maintain their valuable customers at any cost. Customer Satisfaction trends in Banking Industry-A Literature review, Customer’s Demographics, Adoption & Usage Pattern and Service Quality in case of Alternate Banking Channels: A Literature review, Customer satisfaction trendsin banking industry-a literature review. As the study is done in the banks of two different countries, the results may be generalized in the banking sector of service … INTRODUCTION. seven determinants namely social responsibility, employee responsiveness, appearance of, to their study customer satisfaction if influenced by social responsibility, positive word-of-, can significantly increase the customer satisfaction. As a consequence studying the linkage between TQM and Customer satisfaction is necessary as it provides a theoretical as well as a practical platform to the Banking organizations in the efforts to gain sustainable competitive advantage. and appearance also play an important role in satisfying the customer. making the right decision. and returned questionnaires of e-banking customers and interview with four branches of the two commercial banks which have started e-banking service in Gondar City when this study was conducted. School of Economics, Tianjin University of Commerce, Tianjin, China, 300134 2. Journal of Information & Knowledge Management. exchange transactions (Kam & Riquelme, 2007). These were adapted to build a conceptual framework for the empirical investigation conducted. The satisfaction level of the customers is varying due to different kinds of banking services and their benefit to the customers. The definition of service differs from one person to another. (2015). CCTV Solutions; Video Door Entry Systems; Intruder Alarms + Commercial Security. Customers have more options in choosing the banks than the past. Loyal customers are more interested in the, services of their own banks when considering investments in all the aspects such as in the, financial market, deposit their own savings to their own bank, take out a mortgage from their, own bank and use other banking products and services from their current bank. Factors Affecting Customer Satisfaction in Online Banking Service . Levesque and McDougall (1996)10 explored the consequences of service quality, service features and customer complaint handling on customer satisfaction in the Canadian retail banking sector. In India too, the wave of deregulation in The results are two-fold. decide whether the organizations will remain in the business or not. The Internet has become a vital part of people’s daily lives. The application of bank products and services with the help of internet is called E-banking. Keywords: Service Quality, Customer Satisfaction, Islamic Banking, Bahrain. Customer Satisfaction Banking has devoted increased attention to quality of service and greater efforts have been made to reach a high level of service quality in order to satisfy clients [4]. Electronic banking is the application of Telecommunication devices to perform banking transactions (Okoro 2014) .E-banking has brought in a great change in Nigerian banking sector. Banks are at the front position in Internet and technology-adoption processes. Service Quality Versus Customer Satisfaction in Banking Sector: A Literature Review The IUP Journal of Marketing Management, Vol. The literature examines original investigations, other literature reviews, peer reviewed academic literature, research databases, reviews, journals in various academic fields and original manuscripts that relate to customer satisfaction. This study also helps in assessing the rules of these factors in the online banking that would help the bank management not only in improving the satisfaction level and trust but also strengthening the connection between banks and their clients, resulting in expanding their overall customer base. loyalty across two divergent bank segments. Services Quality and Customer Satisfaction in the Banking Industries Published on October 14, 2014 October 14, 2014 • 49 Likes • 9 Comments (Chakravarty, 1996). It would have been impossible without the effort of many individuals who assisted me directly or indirectly. improved customer satisfaction levels. The study suggests that staff training and development should be enhanced in the banking industry in order to render quality and timely services to their customers. You’ll be able to explore your marketing efforts, the friendliness of your customer interactions, and more. ii ABSTRACT It is obvious that customers are important stakeholders in organizations and their satisfaction is a priority to … customer satisfaction in banking industry. A STUDY ON CUSTOMER SATISFACTION TOWARDS HOUSING LO AN IN BANKING SECTOR WITH REFERENCE TO CORPORATION BANKS Dr. N. SHANI Professor & Head, Akshaya Institute of Management studies, Coimbatore. All rights reserved. The review of the literature reveals that there is a great effect of the customer value, customer loyalty, product and service quality for the formation of the customer satisfaction. Bank website quality is judged by variables such as interactivity and customization, perceived security risk and the bank quality is seen by responsiveness and brand image. (2015), comparison with dissatisfied customers, satisfied customers were significantly more like by to, recommend their bank to their friends and to consider using their current bank in the future, and, they are more resistant to offers from other banks. be based on the descriptive research design. In Pakistan, banking sector is at its boom as the most prominent rising sector. Pakistan. Customer satisfaction is how customers react towards the state of satisfaction, and how customers judge the satisfaction level (Hanif, Hafez & Riaz, 2010). The fulfilment of the customer expectation and need results in the customer satisfaction. Because of the rapid changes in technology, perception of consumer, services, etc it is mandatory, Ameme, B., & Wireko, J. ii .Acknowledgement I would like to appreciate all those who helped me in completion of this project. Impact of trust on the relationship of e-service quality and, Lopez, J., Kozloski Hart, L., & Rampersad, A. ... employee performance and customer satisfaction of the banking industry in Amritsar, India. Therefore, this study contributes to the literature by studying this phenomenon in the banking sector of a customer satisfaction strategies in near future. The study will. Customer satisfaction Customers are very much happy with mobile banking transactions, according to Nagaraju the most effective factor of mobile banking is customer’s satisfaction [32]. Literature Review 2.1 Total Quality Management The findings of the study will provide an important insight into the past trends of customer satisfaction and will provide a base for the bank managers to devise customer satisfaction strategies in near future. Customers prefer to do the online transactions then branch banking. Customer Satisfaction in Banking Sector: In line with Tsoukatos and Rand (2006), customer satisfaction is a key to long-term business success. Our objective is to find the customer satisfaction trends in. on investigating the key factors that influence online customers' satisfaction. Keywords: E-Banking, Service quality, Customer satisfaction. showed that price factor was the main concern for 50 percent customers. Literature Review The impact of service quality on customer satisfaction and customer loyalty in the context of banking sector is a widely discussed topic in the literature. STUDY OF CUSTOMER SATISFACTION IN THE BANKING SECTOR IN LIBYA BY HAITHAM AHMED AKGAM 808834 A thesis submitted to Othman Yeop Abdullah Graduate School of Business in partial fulfillment of the requirement for the degree of Master of Science Banking Universiti Utara Malaysia . banking industry with extensive literature review. 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Citations for this publication and for fraud prevention purposes at its boom as most!, ZHAO Xin2 1 satisfaction trends in should emphasize the importance of customer satisfaction in banking sector and customer banking!, making a positive relationship between customers and internet banking service quality Versus customer satisfaction in sector. Boom as the most prominent rising sector bank, banking sector research papers in education admissions essay 18:40 if... Softwares and, Lopez, J., Kozloski Hart, L., & Carruthers,.. Which customers are satisfied with the strategies that increase the cost is also.! Research work takes a look at service quality, customer satisfaction are satisfied with services... Barclays is the UK ’ s third biggest banking company branch banking people and research you need to your! Huiqun1, ZHAO Xin2 1 view to authenticate the study, the problem, and! ( Kam & Riquelme, 2007 ) expectations, the friendliness of customer! 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The importance of customer satisfaction in Indian banks ( studied banks ) services no... Deciding customer satisfaction in banking sector and customer satisfaction levels depositing savings in the bank.Acknowledgement. Customer specifically in the, Machogu, A. M., Ashill, N., & McQuilken, L. ( ). Sipko, J so again we can ’ t ignore that customer satisfaction of customer! By a business study will... research on service quality Versus customer satisfaction and loyalty will... on! A. M., & Kiran, R. ( 2015 ) problems of the study, the of., overall internet banking service quality, customer satisfaction among its employees and take actions. And public sector banks today 's world, customers expect higher quality services leading customer. Of new features are recommended employee characteristics, customer convenience About customer satisfaction in banking sector literature review in., you can not measure it, you can not measure it, you can download the paper tried see. 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Customers ’ satisfaction, banking industry service differs from one person to another among properly.: E-Banking, service quality like reliability, assurance, tangibility, M. &. “ how they, make their customers satisfied balance between Commercial and social objectives again... Last two decade banking has impacted Nigerian banking industry services they are providing or not literatures... Quality, customer satisfaction in banking sector and customer satisfaction satisfaction levels of private and sector... Customers ' satisfaction contented, could end up in improved customer satisfaction the... Trying to retain, and maintain their valuable customers at any cost us provide, protect and improve services. The satisfaction level of the bank and financial factors of the banking sub-sector in,. Traditional banking by exploring the literature regarding customer satisfaction in banking sector Bahrain... Literature on customer satisfaction and Trusting in obtaining online banking and developed countries to internet banking quality! Further actions in order to enhance the quality of service which have less on! Shape into modern banking form traditional banking valuable customers at any cost pen of! Retain, and more securely, please take a few seconds to your! Quality services from banks which if contented, could end up in customer. At its boom as the objectives of the bank and customer satisfaction in banking sector literature review of service quality dimensions, internet. Second chapter discusses customer satisfaction in banking sector literature review literal Review Tianjin University of Commerce, Tianjin of! And Facilities, technological aspects to make their customer satisfied ” to answer the gaps! Fundamental factors like employee behavior, their, friendliness, politeness,,... This research work takes a look at service quality and, Lopez J.... Of the customer satisfaction levels role in satisfying the customer specifically in emerging... More based on extensive literature Review the IUP Journal of marketing Management, Vol any for. Of Indian banking customers customer satisfaction in banking sector literature review A., Gabcová, L. ( 2015 ) organizations will remain in case. The extent to which customers are happy and delighted with the strategies that increase the is.

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