Customer Orientation as a Basic Principle in the Contemporary Activity of the Bank

Mistrean, Larisa

doi:10.47743/jopafl-2021-21-05

Cited by 5 publications

(4 citation statements)

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“…Attracting new customers requires the bank to monitor the business environment in order to promptly respond to changes in the needs of existing and potential consumers of financial and banking services so that they become loyal customers of the institution (Mistrean, 2021). On the other hand, Svitlana Yegorycheva (2016) proposes to combine two approaches to the definition of customer focus.…”

Section: Critical Analysis and Decomposition Of Approaches To The Def...mentioning

confidence: 99%

Customer Orientation of the Bank as the Basis of the Customer-Oriented Business Model of the Bank

Rudevska¹

2022

TSEJ

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The main purpose of this study is to deepen the theoretical foundations of defining the content of the concept of "customer focus" and assessing the level of customer focus, as well as to provide a practical perspective on the customer-oriented activities of the bank. The study covers a set of issues related to the allocation of customer focus as an independent object of management in the bank, characterization of the methodology for assessing the level of customer focus of the banking institution and determining the directions of improving the customer focus of the bank as an important element of the banking business, the main effect of which should be an increase in profits in the process of the bank. The methodology of the study, which reveals the topic of the article, is: analysis and synthesis of the theoretical basis for the content of the concept of "customer focus", its generalization and decomposition of approaches to defining the content of customer focus; the method of synthesis is used in the process of defining the concept. Also, in the process of research and implementation of its goals, general scientific and analytical methods of assessing the level of customer focus were used. Results. The study of the content of customer orientation based on the decomposition of different approaches to its definition allowed to formulate the author's definition of customer orientation in the bank as a tool of partnership between the bank and consumers to meet the needs of the latter, as well as to prevent their expectations, aimed at obtaining a constant long-term income by the bank due to the key competencies of its staff and the transition to a customer-oriented model of banking institution. The author's definition differs from the existing ones in that it considers customer orientation at two levels of interaction with customers: at the level of the bank as an organizational structure and at the level of personnel who contact with customers directly and indirectly, and also focuses on the bank's orientation to the desires and needs of the customer and the ability to anticipate them. Without equating the level of customer satisfaction with the level of customer focus, it can be said that there is a logical connection between these concepts and conclude that the measurement of customer NPS can be used as an indicator of customer focus. Practical implications. In the world banking practice, the introduction of NPS calculation is widely used and influences the decision-making process regarding the bank's business model, in which customer focus plays a key role. The ways of increasing the level of customer orientation of the staff and implementing a customer-oriented business model of the bank, highlighted by the author, have a wide prospect of further implementation in the activities of financial institutions.

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Section: Critical Analysis and Decomposition Of Approaches To The Def...mentioning

confidence: 99%

Customer Orientation of the Bank as the Basis of the Customer-Oriented Business Model of the Bank

Rudevska¹

2022

TSEJ

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“…In a business context, a customer-orientated approach encompasses a deep and centred attitude towards understanding and addressing customer needs (Tseng 2019). Customer orientation encompasses a professional orientation towards service delivery that is guided by an in-depth understanding of the expectations of customers to strengthen long-term customer satisfaction (Mistrean 2021).…”

Section: Customer Orientationmentioning

confidence: 99%

Investigating the antecedents and outcome of commitment in a business-to-consumer service environment

Roberts-Lombard

Nemadzhilili²,

Coelho³

et al. 2022

Acta commer.

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Orientation: Over the past two decades, a new school of thought has emerged that requires investigation into the multidimensional nature of commitment on loyalty.Research purpose: The study explores the extent to which the affective and calculative commitment of retail banking customers is influenced by selected antecedents, on the one hand, and its influence on loyalty on the other.Motivation for the study: Greater knowledge of the factors that influence the affective and calculative commitment of bank customers becomes important to enhance their loyalty in the competitive banking industry of South Africa.Research design, approach and method: The collection of data was secured from 400 retail bank customers through self-administered questionnaires and analysed using descriptive statistics and standard multiple regression.Main findings: Perceived value, customer orientation, and expertise have a significant and positive influence on affective commitment and calculative commitment. Furthermore, affective commitment has a positive and significant influence on calculative commitment, while both affective and calculative commitment have a positive and significant influence on customer loyalty.Practical/managerial implications: The study guides South African retail banks in developing an improved understanding of the importance of commitment (affective and calculative) as a precursor to loyalty in an emerging African market context. Moreover, it emphasises the importance of selected commitment stimuli that influence the future strengthening of the commitment-loyalty link.Contribution/value-add: Through the application of a relationship marketing and social exchange theoretical framework, selected commitment (affective and calculative) stimuli are investigated to uncover their influence on strengthening the commitment-loyalty link.

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“…The user-friendly technology, flexibility in terms of payment and transactions and also banking financial transactions have made an elastic from the way of traditional banking. Customers have started to depend on internet and websites to get information, compare and make decisions on the financial products or services of banking sector without mobility with one click (Mistrean, 2023c, Mistrean, 2021a, Mistrean, 2021b. This is made possible because of Online and Core Banking transactional development.…”

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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Customer Orientation as a Basic Principle in the Contemporary Activity of the Bank

Cited by 5 publications

References 0 publications

Customer Orientation of the Bank as the Basis of the Customer-Oriented Business Model of the Bank

Customer Orientation of the Bank as the Basis of the Customer-Oriented Business Model of the Bank

Investigating the antecedents and outcome of commitment in a business-to-consumer service environment

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

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