Behavioural evolution of consumers of banking services in the COVID-19 pandemic situation

Mistrean, Larisa

doi:10.51410/jcgirm.8.1.6

Cited by 4 publications

(3 citation statements)

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“…Customer loyalty is a state that needs to be continuously cultivated on an ongoing basis. To achieve customer loyalty, institutions must provide superior value to their customers (Al-Hawary & Hussien, 2016;Jones & Sasser, 1995;Mistrean, 2021b;Reichheld, 1993) and more deeply engage customers in the existing relationship (Mistrean & Staver, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

Factors Influencing Customer Loyalty in the Retail Banking Sector: A Study of Financial-Banking Services in the Republic of Moldova

Mistrean¹

2023

OCS

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Purpose of this research is to identify the nature of loyalty, the valence/dimensionality of this concept, and the factors that determine customers of banking products/services in the Republic of Moldova to establish long-term relationships with the bank and remain loyal to it, thereby proposing targeted measures the banks could take to keep their customers. Online survey data of 363 customers of financial-banking products/services in the country was extracted, counted, and analyzed, and the statistical results reveal that loyalty to a banking service is similar to that in interpersonal relationships, and bank-client relationships can generate friendships or even lasting partnerships over time due to proper behavior. Based on analysis results, this paper identifies manifestations of loyalty, figures out factors for developing loyalty and trusting relationships and for improving customer attitude, and innovatively proposes a few suggestions for financial institutions to formulate customer loyalty problems and develop long-term relationships with their customers, including measuring customer loyalty level to identify genuinely loyal customers, ensuring the bank's efforts to build customer loyalty is recognized in the entire institution, relating the value of each customer to the value of rewards provided in the loyalty program, and rewarding customer loyalty according to customer priorities. Research results attained in the paper could assist bank managers in the Republic of Moldova in making managerial decisions to prevent customers from migrating to competitors and establish long-term relationships with them, and the conclusions and suggestions might be applicable to banks in other counties with similar problems around the globe.

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Section: Literature Reviewmentioning

confidence: 99%

Factors Influencing Customer Loyalty in the Retail Banking Sector: A Study of Financial-Banking Services in the Republic of Moldova

Mistrean¹

2023

OCS

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“…They spend heavily to ensure their security to protect information and their database this has become a greater challenge not only to businesses but also to banking sector as it plays a key role in Indian Financial System. In today's technical environment, technologies have changed the appearance of dissimilar business operation (Mistrean et all, 2021a, Mistrean et all, 2021b, Mistrean, 2023a, Mistrean, 2023b. In India, it has been recorded more than 60% of total commercial transaction are done online.…”

Section: Introductionmentioning

confidence: 99%

Fraud Prevention in Digital Payment Systems and Cybersecurity Education for Customers of Nationalized Financial Institutions

Singh,

Mistrean,

Singh

et al. 2024

Development Through Research and Innovation - 2023

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Information Technology and infrastructural development-based technology has taken important part and different dimension in building the future of Indian Financial System, especially in transition from tradition banking method to E-Banking services. One of the important reasons why this transition took place is because of time and convenience which caters the needs of customers in ease of transacting their accounts anywhere and at any time. Since, increased in the number of online transactions has pave the way to increased online frauds and hacking. In the present scenario cyber security and protection of customers information has become the biggest challenge. Hackers and Cyber attackers have become common marvel and get easy access to customer information anywhere and anytime. Customers in many stances have becomes a prey and victim unknowingly, believing the mechanism to be a genuine one. This research paper mainly focuses on customer awareness and methods of preventing electronic frauds, cyber security and throws spotlight on chances of users who fall as target to hacking and phishing attack which are used to steal personal and bank information. This paper also examines the awareness of customer on digital frauds and cyber security provided by the perspective Nationalised Banks. Cyber security and infrastructure security can only be accomplished by sensing the techniques and practices of attackers and building a strong defence and security on the KYC of the bank customers. It also seeks to understand various factors that are responsible for bank fraud which are unidentified to the customer.

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“…Since the end of 2019, all parts of the world have been affected to varying degrees by the COVID-19 pandemic. Offline economic activities have come to a standstill, and people's lifestyles and activities have been restricted as never before [1][2][3][4][5][6][7][8]. Against the backdrop of the pandemic, colleges and universities in various areas have implemented management reform measures, including repeatedly postponing the opening of school terms and vacation time, implementing the remote teaching and classroom management systems, and restricting students' gatherings and travels outside campuses to deal with the possible spread of the pandemic [9][10][11][12][13][14][15][16].…”

Section: Introductionmentioning

confidence: 99%

Analysis of the Correlation between the Mental Stress of College Students and Their Learning Initiative during the Outbreak of COVID-19

Xi¹,

Wen²,

Zhang³

2022

Int. J. Emerg. Technol. Learn.

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The spread of COVID-19 has brought negative impacts on the life and study of college students and thus aggravated their mental stress in this environment. Existing research has focused more on the status quo of the problem while having ignored its process variability, and there is no research on the correlation between the mental stress of college students and their learning initiative during the outbreak of COVID-19. To this end, this paper conducts an analysis of the correlation between the mental stress of college students and their learning initiative during the outbreak of COVID-19. In-depth analysis was carried out by the factor analysis method in SPSS, and an evaluation model was built for the mental stress of college students during the outbreak of COVID-19 based on four stressors, with the process of how to obtain the evaluation results given. The grey correlation analysis method was used to quantitatively analyze the correlation between the mental stress of college students and their learning initiative during the outbreak of COVID-19, that is, the factors affecting college students’ learning initiative during the outbreak of COVID-19 were investigated through the grey correlation analysis. Finally, the relevant experimental results were given.

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Behavioural evolution of consumers of banking services in the COVID-19 pandemic situation

Cited by 4 publications

References 0 publications

Factors Influencing Customer Loyalty in the Retail Banking Sector: A Study of Financial-Banking Services in the Republic of Moldova

Factors Influencing Customer Loyalty in the Retail Banking Sector: A Study of Financial-Banking Services in the Republic of Moldova

Fraud Prevention in Digital Payment Systems and Cybersecurity Education for Customers of Nationalized Financial Institutions

Analysis of the Correlation between the Mental Stress of College Students and Their Learning Initiative during the Outbreak of COVID-19

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