A study of customer satisfaction & its parameters within the context of banking

PRAFULLA W. SUDAME, AMALA N. NAHAR

Abstract


In the emerging developments that are taking place in technology, the Internet services have become a key aspect in changing the traditional branch banking into more sophisticated transaction processors. This will lead to retain their customers in the competitive business context. In the present globalized world, when the customers are technically sound banks find it  challenging to survive. When customer demands are not met,  customers have  an option to select those banks that are making a real effort of providing high quality, fast and efficient services. These services are provided through all the channels such as, call centers, ATMs, voice response systems, internet and physical branches etc.

Since 1990 when technology emerged the banking industry which was an important segment of the country’s economy became a highly demanding service. However with  the introduction of Internet it provided much force on the financial industry which had a complete change on traditional banking methods. Internet Banking Services not only made financial institutions provide their services online, but also facilitated their customers with easy access and other value-added benefits. This discouraged the customers visiting the bank branch and introduced the new concept of door step banking services for the first time in Vidarbha Banking history.

Therefore this situation identifies the problem of the study. According to the literature and preliminary research it was understood that impact of Switching Cost on Customer Satisfaction and Customer Retention for Internet Banking Services was not discussed in Indian Banking context before.

Thus the impact of Switching Cost has become an important factor to have the Customer Satisfaction and Customer Retention in the banking sector of Vidarbha. As a result it will have an impact on Internet Banking Services.

Keywords


Customer Retention

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