scholarly journals Financial marketing as a tool for customer loyalty in national banking

Minerva ◽  
2021 ◽  
Vol 2 (6) ◽  
pp. 43-49
Author(s):  
Mario Vasquez ◽  
Edith Naranjo
Keyword(s):  
Applied Sciences ◽  
Customer Service ◽  
Customer Loyalty ◽  
Financial Services ◽  
Financial Marketing ◽  
University Management ◽  
Financial Services Marketing ◽  
Florida Atlantic University ◽  
Banking Institutions ◽  
Nueva Granada

This research studies financial marketing as a tool for customer loyalty in national banking, conducting a bibliographic review that reveals the importance of these elements, since its main purpose is to propose strategies that allow not only the positioning of the brands, but to attract customers to offer the multiple services that a bank can offer. The results support the facts and allowed the verification of the hypothesis, highlighting that financial marketing is known andapplied by most banking institutions and that this marketing is centralized to launch general strategies applicable throughout the Ecuadorian territory, loyalty is managed by the same departments as they go hand in hand with customer service, services offered, benefits, among other motivations. Keywords: Marketing, Financial Marketing, Loyalty, Clients, National Banking. References [1]J. Madura, «Marheting Financiero y Empresas,» Florida Atlantic University, p. 253, 2021. [2]A. Bouzada, «Respuesta de los bancos locales a la caída de las tasas internacionales a partir del año 2008,» Universidadde la República de Uruguay, 2020. [3]O. Mehecha, «Estrategias competitivas de marketing financiero en el sector bancario: Percepción del cliente,» RevistaVenezolana de Gerencia, vol. 24, nº 88, 2019. [4]E. Núñez, «El Marketing Financiero: Evolución de las entidades Bancarias,» Organización de Empresas, Marketingy Sociología, 2015. [5]C. Rodríguez, «Análisis De Las Estrategias De Fidelización Como Apoyo A Las Principales Entidades PrestadorasDe Servicios Financieros En Colombia,» Universidad Militar de Nueva Granada, p. 20, 2017. [6]V. Mesén, «Fidelización de clientes: concepto y perspectiva contable,» Tec Empresarial, 2017. [7]C. Mertzanis, «Marketing Financial Services and Products in Different Cultural Environments,» Risk and ContingencyManagement, Enero 2017. [8]D. Bapat, «Marketing of Financial Services,» Biztantra Publications, Agodto 2014. [9]A. Meidan, «Marketing Financial Services,» Sheffield University, Management SchoolUK, 1996. [10]E. Ehrlich and D. Fanelli, «The Financial Services Marketing Handbook,» John Wiley & Sons, Inc., Hoboken, NewJersey, 2012. [11]A. Ahmad and N. Raja, «Determinants of Customer Loyalty: A Review and Future Directions,» Australian Journal ofBasic and Applied Sciences , Julio 2018.

scholarly journals The Effect of Service Quality on Customer Loyalty at BRI Syariah Bank Bone Office Branch: A Review of Law Number 8 of 1999 concerning Consumer Protection

Al-Bayyinah ◽  
2021 ◽  
Vol 5 (1) ◽  
pp. 1-12
Author(s):  
Jumarni Jumarni
Keyword(s):  
Service Quality ◽  
Customer Service ◽  
Consumer Protection ◽  
Customer Loyalty ◽  
Positive Influence ◽  
Normality Test ◽  
Regression Test ◽  
Banking Institutions

This study was conducted to analyze and determine the effect of Service Quality Variables on customer loyalty in BRI Syariah Bank Bone Office Branch. This study juxtaposes the quality of customer service in banking institutions with the level of customer loyalty. In addition, the two variables are examined with the conception of consumer protection as regulated in Law number 8 of 1999. This study uses qualitative research methods and the analysis used is SPSS 20. The analysis test includes a normality test that analyzes parametic statistics, and a regression coefficient test is used to determine the effect of service quality on customer loyalty. The results obtained by the regression equation Y = 1,082 + 0,255 + ε. Based on a simple linear regression test, it shows that service quality has a positive and significant effect on customer loyalty in BRI Syariah Bank Bone Office Branch. The positive influence shows a match between service quality and customer loyalty; hence the role of service can increase customer loyalty. The relation to consumer protection regulated in Law no. 8 of 1999 concerning Consumer Protection, maximum service in its various forms is the basic rights that consumers deserve, and this has been obtained by customers of BRI Syariah Bank Bone Office Branch, thus it is relevant to consumer protection and customer service. 

What do bankers think about Halal financial services?

2019 ◽  
Vol 7 (2) ◽  
pp. 18
Author(s):  
Zaimy Johana Johan ◽  
Mohd Zainee Hussain
Keyword(s):  
Customer Service ◽  
Financial Services ◽  
Structured Interview ◽  
City Centre ◽  
Kuala Lumpur ◽  
Financial Industry ◽  
Product Packaging ◽  
Financial Products ◽  
Product Features ◽  
Banking Institutions

Over the past three decades, Malaysian halal financial services have become one of the fastest growing industries with a range of products and services accepted by both Muslims and non-Muslims.  However, the Islamic financial products and its Islamic banking institutions are facing stiff competition from conventional products in relation to marketing coverage, branding, product packaging and other pivotal aspects such as product features, benefits and advantages.  Moreover, there is an immense pressure on the institutions to remain competitive along with the national goals of building shariah-driven ecosystem within the halal industry.  Against the backdrop of the competitive financial industry landscape, this qualitative study examines the crucial attributes of Islamic financial services with focus on knowledge, attitude and level of acceptance of bankers in promoting, marketing and selling Islamic financial products and services.  Employing semi structured interview technique; customer service officers of seven banks within Kuala Lumpur City Centre were selected.  This exploratory study is aimed to identify the perception of bankers towards halal financial services and the study has discovered bankers' knowledge, attitude and level of acceptance of specific products can generate customer’s positive perception, awareness and acceptance of the product offered which will increase their satisfaction and loyalty.  This study is expected to promote knowledge advancement and understanding of Islamic financial services towards fostering a healthy and complete offering of shariah compliant financial solutions. It can later further expand the asset base and outreach of the Islamic financial industry, and subsequently contributes towards increased customer satisfaction and loyalty.

scholarly journals Identifying The Factors That Influence Retail Customer Loyalty And Capitalising Them

2012 ◽  
Vol 11 (11) ◽  
pp. 1223
Author(s):  
Michael Colin Cant ◽  
Michael Du Toit
Keyword(s):  
South Africa ◽  
Customer Service ◽  
Customer Loyalty ◽  
Financial Services ◽  
The United States ◽  
Relationship Building ◽  
Marketing Plan ◽  
Customer Base ◽  
Loyal Customer ◽  
Loyalty Programme

Much has been said about loyalty and the advantages that a loyal customer base offers to an organisation and more specifically to retail customers. With more than 2 billion loyalty programme memberships including hotel, supermarket, airline and financial services in the United States alone it is clear that loyalty programmes are an essential part of the marketing plan and strategy of retail organisations a road to survival, growth and profits. This study focussed on one particular clothing retailer in Gauteng that on its own represents 20.3% of the market making it the largest clothing retailer in South Africa. Gauteng was selected due to its stature as the largest clothing retailer in South Africa and also the nature of its customer base which consists of three distinct groups of customers: (1) cash only non-loyalty programme members, (2) cash only loyalty programme members, and (3) credit customers who purchase on terms. This study investigated the factors that influence customer loyalty amongst members of a retail loyalty programme in the apparel retail industry and found that the two most important drivers of customer loyalty were merchandise availability and customer service related variables. Price did not feature as an important driver of loyalty opening opportunities for retailers to focus on loyalty marketing strategies that do not revolve solely around price but rather focus on long-term relationship building. The responses received from this research were illuminating and will be of value to retailers who have an existing loyalty programme or are contemplating the starting of a programme.

Online Relationship Marketing to Customer Loyalty Based on Signaling Theory (Evidence of Bank Customers in Indonesia)

2020 ◽  
Vol 11 (1) ◽  
pp. 127-127
Author(s):  
Wenny Pebrianti ◽  
Wenseslaus Tanwira ◽  
Ahmadi
Keyword(s):  
Relationship Marketing ◽  
Customer Loyalty ◽  
Financial Services ◽  
Signaling Theory ◽  
Cellular Communication ◽  
Place And Space ◽  
New Era ◽  
Online Trust ◽  
Marketing Activities ◽  
Relationship Of

The internet has changed people's way of life, especially in dealing a transaction. Indonesian banking entered a new era since 2000 when banks in Indonesia began implementing electronic banking or e-banking systems. Integrating cellular communication technology and banking financial services is changing people's lifestyles to be more flexible in making it easier for users to access banking financial services without being hindered by time, place and space. The same integration also occurs in relationship marketing strategies and cellular communication technologies that make it easy for companies to be able to reach and provide the best service to their consumers. This study wants to reveal the relationship of interactivity and engagement which is an activity of Online Relationship Marketing at a bank to be able to understand consumers in order to create customer loyalty with online trust as mediation.Based on the above background, the problem in this study is "Does Online Relationship Marketing activities such as engagement and interactivity affect customer loyalty either through online trust as mediation or not?" Keywords: engagement, interactivity, online trust, customer loyalty, signaling theory

The moderating impact of emotions on customer equity drivers and loyalty intentions

2017 ◽  
Vol 29 (2) ◽  
pp. 239-264 ◽  
Author(s):  
Zohaib Razzaq ◽  
Salman Yousaf ◽  
Zhao Hong
Keyword(s):  
Service Delivery ◽  
Customer Service ◽  
Customer Loyalty ◽  
Positive Emotions ◽  
Survey Design ◽  
Emotional Responses ◽  
Point Of View ◽  
Customer Equity ◽  
Content Type ◽  
Loyalty Intentions

Purpose The purpose of this paper is to investigate the significant contribution of emotions along with other conventional loyalty drivers on the loyalty intentions. Design/methodology/approach The influence of three conventional loyalty drivers, i.e., value equity, brand equity, relationship equity on loyalty intentions was investigated by further exploring the moderating effects of negative and positive emotions. A sample of 834 Pakistani consumers in the supermarkets and banking industries was studied employing store-intercept survey design. Findings Consumer behavior is driven by emotions in both the supermarkets and banking context. Thus, in order to better predict customer loyalty intentions, the emotional component is crucial and should be included along with other cognitive components. Practical implications Since customers’ emotional responses throughout service delivery are strongly linked to loyalty, therefore supermarkets and bank service managers need to make sure that the customers experience with their services as pleasurable as possible and for this purpose, customer service employees need to be trained in order to better understand the customers’ emotional responses during the course of service delivery process. Originality/value The present study complements the existing literature regarding the role of emotions in service settings and offers a new point of view for the linkage among emotions, customer equity drivers and customer loyalty intentions.

Service journey quality: conceptualization, measurement and customer outcomes

2021 ◽  
Vol 32 (6) ◽  
pp. 1-27
Author(s):  
Elina Jaakkola ◽  
Harri Terho
Keyword(s):  
Service Quality ◽  
Service Delivery ◽  
Customer Loyalty ◽  
Financial Services ◽  
Three Dimensions ◽  
Service Research ◽  
Research Approach ◽  
Critical Determinant ◽  
Content Type

PurposeThe quality of the customer journey has become a critical determinant of successful service delivery in contemporary business. Extant journey research focuses on the customer path to purchase, but pays less attention to the touchpoints related to service delivery and consumption that are key for understanding customer experiences in service-intensive contexts. The purpose of this study is to conceptualize service journey quality (SJQ), develop measures for the construct and study its key outcomes.Design/methodology/approachThe study uses a discovery-oriented research approach to conceptualize SJQ by synthesizing theory and field-based insights from customer focus group discussions. Next, using consumer survey data (N = 278) from the financial services context, the authors develop measures for the SJQ. Finally, based on an additional survey dataset (N = 239), the authors test the nomological validity and predictive relevance of the SJQ.FindingsSJQ comprises of three dimensions: (1) journey seamlessness, (2) journey personalization and (3) journey coherence. This study demonstrates that SJQ is a critical driver of service quality and customer loyalty in contemporary business. This study finds that the loyalty link is partially mediated through service quality, indicating that SJQ explains loyalty above and beyond service quality.Research limitations/implicationsSince service quality only partially mediates the link between service journey quality and customer loyalty, future studies should examine alternative mediators, such as customer experience, for a more comprehensive understanding of the performance effects.Practical implicationsThe study offers concrete tools for service managers who wish to understand and develop the quality of service journeys.Originality/valueThis study advances the service journey concept, demonstrates that the quality of the service journey is a critical driver of customer performance and provides rigorous journey constructs for future service research.

scholarly journals Measuring Customers Loyalty of Islamic Banking in Bahawalpur Region

2012 ◽  
Vol 2 (2) ◽  
pp. 101 ◽  
Author(s):  
M. Taimoor Hassan ◽  
Bilal Ahmed ◽  
Saleem Ahmed ◽  
Umair Habib ◽  
Saim Riaz ◽  
...  
Keyword(s):  
Customer Loyalty ◽  
Financial Services ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Banking Services ◽  
Basic Purpose ◽  
Customer's Loyalty ◽  
Conducting Research ◽  
Viable Model

Purpose: The basic purpose of measuring the customer’s loyalty in Islamic banking in Bahawalpur region is their long term commitment.Design/methodology/approach: This research has been conducted utilizing the actual data with the help of a questionnaire based on the literature extensively written on Islamic banking services, to develop a viable model to explore the attributes which lead towards the customer loyalty in utilizing the financial services of Islamic banks in Bahawalpur region. A new dimension is added by conducting research on customer’s loyalty in Islamic banking in Bahawalpur region, taking sample of 125 respondents from 20 banks operating in Islamic banking services of this region.Findings: Factors abstracted from the customers loyalty are, customers satisfaction, switching cost, customers perception, success philosophy and trust and commitment. It is found that these factors significantly affect the customer’s loyalty in Islamic banking and are greatly associated with the customer’s loyalty.Research limitations/ implication: Only available material is studied in spite of all the material and research is implicated in Bahawalpur region only.  The sample size is small to only 125 respondents but the results are implicated on overall customer’s loyalty in Islamic banking.Practical implications: Pakistani banks are needed to take initiative in creating awareness about Islamic banking and providing more effective services.Originality/ value: This is one of the very first researches on customers loyalty in Islamic banking conducted in Bahawalpur region and could be very useful for countries adopting Islamic banking.Key words: Customers loyalty, Islamic banking.

scholarly journals Prinsip Kehati-hatian bagi Bank Selaku Kustodian di Pasar Modal Indonesia

2020 ◽  
Vol 2 (1) ◽  
pp. 1
Author(s):  
Rezandha Hutagalung
Keyword(s):  
Precautionary Principle ◽  
Capital Market ◽  
Financial Services ◽  
Main Task ◽  
Legal Research ◽  
Legal Norms ◽  
The Precautionary Principle ◽  
Banking Institutions ◽  
The Capital Market

This journal aims to find out how to apply the precautionary principle of a bank as a custodian bank in Indonesian capital market. Whereas with the enactment of Law Number 1995 concerning the Capital Market, it is deemed necessary to enact a Bapepam Decision regarding the Custodian Bank's Report. In the context of carrying out Indonesia's economic development, of course the challenges are not insignificant for financial institutions, one of which is in banking institutions. The role of banking institutions that carry out the main task as a vehicle that can collect and distribute funds effectively and efficiently, requires continuous improvement in order to be able to have a comparative advantage. This journal is how about the application of the precautionary principle in the capital market in Indonesia. Custodian Bank is a commercial bank that has obtained the approval of the Financial Services Authority (OJK) to carry out business activities as a custodian. The object of legal research is legal norms, which have the aim of examining whether or not a regulation is appropriated and applied.

scholarly journals Postal Bank in Ukraine: The Need and Risks of Creation

2021 ◽  
Vol 6 (521) ◽  
pp. 228-234
Author(s):  
D. M. Hladkykh ◽  
Keyword(s):  
Rural Areas ◽  
Financial Services ◽  
The State ◽  
Resource Base ◽  
Banking Services ◽  
Post Offices ◽  
Banking Market ◽  
Target Segment ◽  
Banking Institutions ◽  
Financial Monitoring

The article is aimed at substantiating the feasibility of creating a specialized postal bank in Ukraine, to define the list of related risks and possible directions for their reduction. The following key risks that hinder the establishment of a postal bank in Ukraine are identified: risk of lack of full control over the directions of investment of accumulated deposits of the population on the part of the NBU; liquidity risk; risk of non-compliance by the postal operator with economic standards that are mandatory for banking institutions; risk of capital deficit; risk of inability to support the postal operator with refinancing; risk of mass withdrawal of deposits by customers; risk of insufficient competence of «Ukrposhta» employees to comply with the requirements of financial monitoring; risks associated with the collection of large amounts of cash; risk of further growth of the share of the State-owned institutions in the banking market; risk of shortage of funds to close the agreement on the purchase of «Ukrposhta» by an already operating bank. Possible directions of minimization of these risks are proposed, in particular: implementation of key elements of successful experience in the banking services market of JSPPB «Aval»; defining as the target segment of clients of the new postal bank of the pensioners, who are currently customers of post offices, and as the basis of its resource base – the future pension and current accounts of individuals; use by «Ukrposhta» of the so-called «agency» model of financial services provision; association of «Ukrposhta» and «Oschadbank» into the State-owned Postal Bank; development of a list of key performance indicators for employees and branches of the new postal bank; development of a list of measures directed towards significantly improving the level of qualification of personnel of «Ukrposhta» branches; installation of POS-terminals and payment terminals in all post offices located in rural areas; establishment of individual economic standards for the new postal bank for the period of its full adaptation to activities in the banking market.

scholarly journals SISTEM CUSTOMER SERVICE PT KERETA API INDONESIA (PERSERO) BERBASIS CHATBOT MENGGUNAKAN KOMPUTASI BAHASA

2021 ◽  
Vol 5 (1) ◽  
pp. 37-41
Author(s):  
Nia Shafira ◽  
◽  
Etin Martiana ◽  
Rengga Asmara
Keyword(s):  
Human Resources ◽  
Natural Language ◽  
Customer Service ◽  
Customer Loyalty ◽  
Service Provider ◽  
Language Modeling ◽  
Service Performance ◽  
Service Workers ◽  
New Approach ◽  
Automatic Information

As the main train service provider company in Indonesia, PT Kereta Api Indonesia (PT KAI) has many customers who need information. In order to maintain customer loyalty, PT KAI must respond quickly and be adaptive to technology to provide the best service to customers. Limited human resources make PT KAI unable to serve customers simultaneously, so customers often have to wait for a response. In order to provide the best service, automatic messages are needed in order to help customer service performance respond quickly and at the same time with no cost, access anytime and anywhere. This study proposes a new approach with chatbots as a medium for conveying automatic information quickly and simultaneously. This chatbot is made with a computational language that focuses on natural language modeling and cosine similarity as a method for calculating the proximity of inputs and databases. This research can help PT KAI's customer service workers to answer customer needs automatically.

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