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Recently, a growing interest in relationship marketing approach attracted much attention of marketers to the customer value creation and delivery as the most important task of marketing strategy. The fact that in the period of economic recession, the retail banking sector customers are more intended to re-assess their relationship with financial organization made marketing experts focus on the investigation of the factors that create and increase customer value in new light. Value creation and delivering to the customer in financial markets has been viewed as a competitive priority and a key component of an organization’s long term success. The aim of the current research paper is to assess the factors of customer perceived value in the retail banking sector during the period of economic recession. The research method involved the survey conducted with 200 retail customers of commercial banks in Lithuania. In addition, this research specifically examines the perception of value in the transitional economy. The study results revealed that in the period of economic recession the dimensions of emotional (affective) value (i.e., the reliability and security of bank, good psychological climate when contacting with bank personnel) and functional value (i.e., the quality of service provision, the competence of contact personnel) are rated higher by customers.  Meanwhile, the factors of social value (i.e., the established long-term relationship, personal beliefs, social integration, the opinion and recommendations of relatives, acquaintances and/or friends) are rated lower.

Numerous studies have analyzed customer intention to purchase financial services. Literature analysis suggests that various drivers can have an influence on retail bank customer intentions to purchase financial services online. This study investigated key drivers that affect customer intentions to purchase financial services online in a transitional economy. A survey data were collected from 185 adult visitors of several popular websites in Lithuania. Hypotheses were tested using correlation and regression analyses. The findings suggest that "usefulness", "easy to use", "security", "trust" and "confidentiality" are key drivers that influence customer intention to purchase financial services and therefore are important in Internet banking. The research demonstrates how these five drivers affect customer intention to purchase financial services online in transition economy, and reveals relationships among the drivers. The results that were obtained supported all five hypotheses. "Usefulness" and "easy to use" emerged as the main reasons for using financial services online. "Security", "trust" and "confidentiality" drivers also appear to be important factors affecting customer intentions to purchase financial services by the Internet. This study is of interest to bank managers, as they can apply the key drivers offered in this study to evaluate a usage of financial services and to increase customer intention to purchase financial services online. This study is limited to one transitional economy under investigation and further research needs to be extended to other economies. Researchers might also evaluate other e-banking drivers. This research was funded by a grant (No. MIP-014/2013) from the Research Council of Lithuania i . Corresponding author ii .

In the last decades, remote technologies changed the networks and communication behavior of a company.

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