Academic literature on the topic 'Banks and banking Relationship marketing'
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Journal articles on the topic "Banks and banking Relationship marketing"
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Khalil Shami, Majed. "Relationship between financial performances and marketing practices in the banking sector of Jordan." Banks and Bank Systems 14, no. 1 (January 15, 2019): 11–19. http://dx.doi.org/10.21511/bbs.14(1).2019.02.
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The study aims at analyzing the relationship between financial performances and marketing practices in the banking sector of Jordan. A questionnaire was distributed to 45 top, middle, and branch level managers of 15 banks. The financial data was obtained from the financial statements and annual reports of the banks during the five-year period between 2011 and 2015. The three categories of participants, who were recruited, were top-level managers, middle-level managers and branch-level managers from 17 banks of Jordan. No two means were found to differ significantly at 0.05 level by means of Scheffe test. The results revealed that the more positive the perception was of the managers regarding the position of their banks in the market, the more they were inclined to choose an accurate target market in accomplishing their marketing objectives. Therefore, it has been concluded that when the financial needs of the customers were similar, the change in the loan-to-deposit ratio was significantly positive.
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Kaur, Gurjeet, and Shruti Gupta. "Business Orientation of Indian Consumer Banking." Global Business Review 13, no. 3 (October 2012): 481–507. http://dx.doi.org/10.1177/097215091201300309.
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The study analyzes the overall business orientation of Indian consumer banks by examining five important business philosophies, namely, production orientation, selling orientation, customer orientation, market orientation and relationship marketing orientation. It throws light on the extent to which each business orientation is followed by Indian banks. All the 39 branches of Jammu and Kashmir Bank Pvt. Ltd (JKB), 13 of State Bank of India (SBI) and 17 of Punjab National Bank (PNB) functioning in Jammu city respectively were contacted. The study found that Indian banks are purely customer oriented and had not yet fully implemented a market orientation philosophy. Moreover, they are not following relationship marketing philosophy, which is the need of the hour and it is imperative for banks to focus on developing long-term relationships with their customers. Further, the two business philosophies, namely, production orientation and selling orientation show insignificant impact on the overall business orientation of Indian banks. Therefore, bank management should concentrate equally on technology and an effective promotional mix. Moreover, they should rethink customer-oriented strategies according to the changing competitive environment and simultaneously think of a market orientation philosophy. Further, management should focus equally on four components of relationship marketing, namely, trust, commitment, loyalty and customer retention.
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Abdelkader, Ahmed, Howard Jackson, and John Cook. "Determinants and Antecedents of Relationship Marketing Orientation." International Journal of Customer Relationship Marketing and Management 1, no. 4 (October 2010): 22–43. http://dx.doi.org/10.4018/jcrmm.2010100102.
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This study investigates the extent of Relationship Marketing Orientation (RMO) in the banking sector of Egypt. The need to deliver a superior value to bank customers has assumed paramount importance as competition intensifies at a fast pace and local consumers become more demanding. This study attempts to answer whether the bank’s ownership style will influence the extent of the bank’s relationship marketing orientation. This empirical study of 32 Egyptian banks is based on the antecedents and determinants of RMO elected from the literature. Findings suggest that different ownership of a bank may exert a different emphasis on RMO. The study reports that RMO is determined by ten antecedents of relationship marketing.
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Lee, Gin-Yuan, Po-Young Chu, and YU Chao. "Service Quality, Relationship Quality, and Customer Loyalty in Taiwanese Internet Banks." Social Behavior and Personality: an international journal 39, no. 8 (September 1, 2011): 1127–39. http://dx.doi.org/10.2224/sbp.2011.39.8.1127.
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While deregulation of financial institutions has increased competition in the Taiwanese banking industry, the advent of e-commerce has provided business opportunities for consumer financing operations. Network banking helps banks to develop relationship marketing by delegating tasks to customers, thus improving customer loyalty. The relationships between service quality, relationship quality, and customer loyalty were investigated in this study. It was found that crisis handling and relationships are negatively, and relationship quality and customer loyalty, and service quality and customer loyalty positively, correlated. Customer loyalty in Taiwanese Internet banks can be increased by improving service quality and relationship quality.
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Larsson, Anthony, and Yamit Viitaoja. "Building customer loyalty in digital banking." International Journal of Bank Marketing 35, no. 6 (September 4, 2017): 858–77. http://dx.doi.org/10.1108/ijbm-08-2016-0112.
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Purpose The purpose of this paper is to investigate the perceptions among representatives from various established major Swedish banks in how they experienced the digitalisation process and its impact on customer relations. Design/methodology/approach Data were gathered through a series of semi-structured in-depth interviews with managers representing different banks with profound insight in the banks’ digitalisation process and its effects on customer relations/satisfaction and digitalisation. Findings The results showed that half of the respondents experienced the same area posing the greatest challenge. This was rooted in the perceived insecurity around what the bank assumed to know about its customers’ proficiency and experiences, and what the customers appeared to actually know. Research limitations/implications This study was conducted as an Interpretative Phenomenological Analysis (IPA) study of various major Swedish banks, which may limit the external validity of its results. Other limitations are also discussed in the paper. Practical implications By identifying the aspects of a digital banking that bank managers perceive to be more advantageous or challenging towards cultivating the relationship with its customers, bank managers should garner an awareness of being able to more effectively develop appropriate strategies in addressing the bank’s customers. Originality/value The area is vastly under-researched. The study contributes to the literature of digital channels and its perceived effects on customer loyalty from a managerial perspective. The results show that some of the present customer loyalty theory needs to be revised in order to accommodate for the era of digitalisation.
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Bhatt, Gyanesh. "Effective Customer Relationship Management: A Key to Success for Banks." International Journal of Management and Development Studies 10, no. 06 (June 30, 2021): 05–08. http://dx.doi.org/10.53983/ijmds.v10i06.372.
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Generally, consumers do not change their banks unless serious problems occur. The philosophy, culture and organization of financial institutions were grounded in this assumption and reflected in their marketing policies, which were product and transaction-oriented, reactionary, focused on discrete rather than continuous activities. With the advent of new technologies in the business of bank, such as Internet Banking and ATMs, now customers can freely choose any bank for their transactions. The pressures of competitive and dynamic markets have contributed to the growth of CRM in the Financial Services Sector. Also, before the Internet revolution, consumers largely selected their banks based on how convenient the location of bank's branches was to their homes or offices. With the advent of new technologies in the business of bank, such as Internet banking and ATMs, now customers can freely choose any bank for their transactions. Thus, the customer base of banks has increased, and so has the choices of customers for selecting the banks.
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Limbad, Shaileshkumar Jausukhbhai, and Vinod Patel. "Measuring Overall Customer Satisfaction for CRM Activities Performed by Indian Commercial Banks in Surat City." Shanlax International Journal of Management 8, no. 1 (July 1, 2020): 16–27. http://dx.doi.org/10.34293/management.v8i1.2465.
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Purpose: The primary purpose of this paper is to measure the customer perception towards customer relationship management practices of Indian commercial banks in Surat city. The researcher also tries to study the different factors affecting the private and public sector banks’ customers.Design/methodology/approach: This research study is descriptive. The study adopted a nonprobability convenience sampling method after initially applying the stratified sampling. Findings: For private sector banks, reliability, responsiveness, and marketing mix elements have a significant relationship with overall satisfaction and also a significant relationship between overall customer satisfaction and loyalty. For public sector banks, a significant relationship found between assurance and marketing mix elements with overall customer satisfaction and between overall satisfaction and loyalty.Practical implications: The study researcher tried to establish a relationship between customer satisfaction and effective management of customer relationships. It is to be suggested that the banking sector, regardless of the tangible elements, should improve its operations in providing customers with highly advanced and reliable services.Originality/value: The research study aims to make managers able to assess CRM activities and processes in Indian commercial banks, focusing on new methods of delivering banking services and ways to managing healthy relationships with key customers.
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Mbama, Cajetan I., and Patrick O. Ezepue. "Digital banking, customer experience and bank financial performance." International Journal of Bank Marketing 36, no. 2 (April 3, 2018): 230–55. http://dx.doi.org/10.1108/ijbm-11-2016-0181.
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Purpose The purpose of this paper is to examine customers’ perceptions of digital banking (DB), customer experience, satisfaction, loyalty and financial performance (FP) in UK banks. Design/methodology/approach The research consists of a survey of UK bank customers’ perceptions of the above themes; use of banks’ financial reports to obtain FP ratios; multivariate factor analysis; structural equation modelling; and analysis of variance tests to explore research hypotheses on the relationships among the study factors. Findings The main factors which determine customer experience in DB are service quality, functional quality, perceived value (PV), employee-customer engagement, perceived usability and perceived risk. There is a significant relationship among customer experience, satisfaction and loyalty, which is related to FP. Research limitations/implications This study concentrates on UK bank customers which limits its generalisability to other banks globally. However, the fact that banks typically adopt common standards in bank financial management implies that the findings are potentially robust for global bank management. Replicating the study in banks in other countries will further enhance this robustness. Practical implications Some significant effects of customer characteristics on the study factors were observed, which have useful implications for DB, bank marketing services and bank FP. Originality/value Unlike previous studies, this study uses both Net Promoter Score and financial ratios as dependent variables, to provide a combined study of the relationships among 14 study factors, with implications for bank marketing and FP.
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Mazzarolo, Aloisio Henrique, Emerson Wagner Mainardes, and Danilo Soares Montemor. "Effects of internal marketing on strategic orientations in the banking sector." International Journal of Bank Marketing 39, no. 5 (March 4, 2021): 810–33. http://dx.doi.org/10.1108/ijbm-08-2020-0437.
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PurposeThe purpose of this study was to assess whether internal marketing tends to influence the perception of bank employees regarding the strategic orientations of banks toward the market, brand and value. The authors also aimed to determine whether employees' organizational commitment mediates the relationship between internal marketing and the three strategic orientations and whether they influence bank employees' perception of obtaining a competitive advantage.Design/methodology/approachThe authors conducted a survey with 832 bank employees using an online questionnaire. The authors performed data analysis by modeling structural equations with data estimation using the PLS-SEM.FindingsThe results showed that internal marketing positively influences bank employees' perception of banks' strategic marketing orientations and through that their perception of a competitive advantage. The authors also note that organizational commitment can partially mediate the relationship between internal marketing and the strategic orientations tested in this study.Research limitations/implicationsThe findings indicate that banks' investment in employee valuation tends to generate positive results in relation to their adherence to marketing strategies, with the potential to result in a competitive advantage.Originality/valueThe results demonstrate the strength of internal marketing in the strategic orientations of banks, indicating that having employees who are committed to their bank contributes to the delivery of a high-quality service focused on the external customers, generating a competitive advantage.
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Govindarajo, Normala S. "Relationship Marketing and Service Quality in Bank Muscat Oman (Sayarati Loans)." Information Management and Business Review 5, no. 12 (December 31, 2013): 568–76. http://dx.doi.org/10.22610/imbr.v5i12.1089.
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Sultanate of Oman is one of the prominent GCC Countries with a population of around 3 million. With assets worth over USD 15 billion, Bank Muscat (SAOG) is the leading financial services provider in Oman with a strong presence in Corporate Banking, Retail Banking, Investment Banking, Treasury, Private Banking and Asset Management. This paper looks into the “RELATIONSHIP MARKETING AND SERVICE QUALITY IN BANK MUSCAT OMAN (Sayaratti Loans)â€. The quality of customer service is the key indicator of the performance of the different branches of the Bank. Banks in the current scenario is increasingly showing its interest in satisfying a customer wants. Given the profit figures on board as targets Banks need to also look into the special needs of the customer’s perspective, any lacuna in service quality to be looked into seriously. The car loans popularly known as Sayaratti loans are taken as the product for study. The findings of the study say that there is a significant relationship between the age and the overall customer satisfaction levels and there is no significant relationship between the age and the service quality by the bank.
Dissertations / Theses on the topic "Banks and banking Relationship marketing"
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Jahan, Israt. "Agent banking as a relationship marketing tool by banks in Bangladesh." Thesis, Linnéuniversitetet, Institutionen för marknadsföring (MF), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-89775.
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With growing number of adult people not owning a bank account,efforts are being made to bring banking services to the unbanked populations.Relationships marketing plays a crucial role in establishing and sustaining beneficial relationship in the banking industry. This study sought to explore the link between agent banking and relationship marketing through an exploratory qualitative approach.The findings show that agent banking as a fairly new phenomenon relies on the integration of different functions within the bank with a strong emphasis on the role of technology,processes and personnel to delivder services that can be acceptable to the customers so as to create long lasting beneficial relationships. Through semi-structured interviews with employees of 6 banks that offer agent banking in Bangladesh,this study contributes a key reflection document on implemenation of agent banking for other banks that intend to start offering agent banking services in Bangladesh.
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Mwanyisa, Tafadzwa. "The relevance of relationship marketing on the sustainability of Zimbabwe banks." Thesis, Nelson Mandela Metropolitan University, 2012. http://hdl.handle.net/10948/1610.
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Mass marketing also referred to as traditional marketing, has been criticised for trying to appeal to everyone, without necessarily providing for customers’ needs and wants. Therefore, the traditional marketing mix has been deemed ineffectual in a highly competitive and ever-changing business world, especially in the banking sector. Changes in the marketing environment have led to the development of new concepts such as relationship marketing. The fundamental concept of relationship marketing involves maximising the longterm benefits for the bank and the customer, resulting in a series of transactions, which allow a long-term relationship to be established and maintained. In short, it is a marketing concept that revolves around building and maintaining a long-term link or bond with one’s customers. The Zimbabwean banking sector has been affected by the country`s political and economic turmoil over the past decade. The collapse of the economy has affected the banking sector and its relationship with clients. During the economic crisis, Zimbabwean banks were unable to meet the basic international requirements of the Basel Accord, and as such, no profits were made. Borrowers had problems repaying existing loans; and banks also became reluctant to lend more, as a liquidity problem in the financial system was prominent. In 2009, a new government was formed which introduced the multi-currency system and the economy went on a recovery path. Given the nature of the economy of Zimbabwe, relationship marketing becomes an indispensible marketing tool that banks can use. The main purpose of the research was to investigate the relevance of relationship marketing on the sustainability of Zimbabwean banks. Five independent variables (customer relations, product attributes, promotion and service delivery and information technology) were identified and were tested against one dependent variable (sustainability of banks). A positivist research paradigm approach was used to conduct the research. The approach uses the quantitative method of research to establish causal relationships. Null (Ho) and alternative hypotheses (Ha) were formulated in x order to test the relationship between variables. A five point Likert scale questionnaire was developed and administered in five major commercial banks in Harare, Zimbabwe namey; Banc ABC, Barclays bank, Commercial Banks of Zimbabwe, Stanbic Bank and Standard Chartered Bank. The five major banks were selected in terms of market capitalisation as well as total deposit share among other things. The empirical results revealed that five of the independent variables positively correlated with the dependent variable implying that they all have an impact on bank sustainability. However, the current situation (2011) in Zimbabwe shows that only two independent variables (product variables and service delivery) have any impact on bank sustainability. In other words, there was a relationship between product attributes and sustainability of banks. Additionally, there was a relationship between service delivery and sustainability of Zimbabwean banks. Conclusions sited that product attributes and service delivery, as variables of relationship marketing, if implemented desirably could salvage the lost confidence and contribute to bank sustainability in Zimbabwe. Therefore, recommendations given by the researcher extensively focused on the two variables that have a relationship with Zimbabwean banks’ sustainability; briefly on the three variables (customer relations, promotion and information technology) that had no relationship.
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Masocha, Reginald. "Technologicalship in e-banking services: a constraint or contributor to relationship marketing in retail banking in East London, Eastern Cape, South Africa." Thesis, University of Fort Hare, 2009. http://hdl.handle.net/10353/306.
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Contemporarily, one of the major business demands is to extensively understand the impact of technology on the major business strategies and practices. Technologicalship marketing, a concept investigated in this study, emanates from a symbiosis of technology and relationship marketing. Per se, a prevalent area of debate pertains to whether technology promotes or constrains relationships. Outstandingly, this study pursued the technologicalship marketing concept, a new and vital 21st century suggestion in literature (Zineldin, 2000:16). Secondly, against the scarcity of empirical studies in mass marketing environments, the study at hand focused on retail banking client relationships. Lastly, the proposed meta-construct hypothetical model is an essential relationship marketing instrument. The proposed model consists of four major relationship marketing construct categories, namely, personal contact, customer retention, customer switching and relational exchange. At the hand of these constructs, the research primarily aimed to determine the impact of technology on client relationships in e-banking with the focus of closing the gap prevalent in literature on whether technology constraints or supports relationship marketing. The study focused on retail banking client relationships of the four major commercial banks in East London, Eastern Cape, South Africa. A survey was conducted of a sample of 200 clients selected using the convenience sampling method. The study hypothesised that technology is resulting in more transactional than relationship marketing in retail banking by constraining social constructions, customer retention and relational exchange, whilst, promoting customer switching mobility. Through the GLM regression analysis method, findings of the study established that technology was to a larger extent supporting relationship marketing. However, it is envisaged that technology is resulting in the disappearance of human contact which is a critical aspect of relationships. Conclusively, the researcher recommended that the only plausible strategy is to endeavour to integrate the human aspect at self-service podiums e.g. mounting of staff at ATM points, which most banks have been doing.
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Parker, Lukas Jay, and lukasparker@gmail com. "Trust and the Australian retail banking industry : the impact of deinstitutionalisation of Australian retail banking services on consumer trust." Swinburne University of Technology, 2005. http://adt.lib.swin.edu.au./public/adt-VSWT20051117.105403.
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Consumer trust research has principally developed from established psychological-based research. This conception of consumer trust largely draws from research pertaining to interpersonal trust. This study combined existing
theories from both sociological and psychological research in developing a consumer trust model specifically for banks.
Partly because of their historical position in society and also because of their
government-protected position, banks, bank branches and bank managers have traditionally held a respected, and trusted position in Australian communities. Because of this reputation and position in communities, banks were seen to display institutional attributes. These attributes were defined in this study as local community focus, local availability and visibility, relationship power symmetry and social obligation fulfilment.
This study explored the notion of institution-based trust in an Australian retail banking context. Institution-based trust was a measure of the levels of consumer trust in various defined institutional attributes. It was contended that through the diminishment and divestment of its institutional attributes banks were impairing their institutional cachet. The process was termed 'deinstitutionalisation' and was postulated to have a negative impact on consumer trust.
The hypothetico-deductive methodological framework was employed throughout the study, with a mail-based consumer survey used as the main means of primary data collection. 468 useable questionnaires from adult bank customers were yielded and the data analysed. These data were analysed and used to test twenty-three
research hypotheses of which nineteen were supported.
From the results, it was concluded that perceived local community focus, perceived social obligation fulfilment and perceived relationship power symmetry were antecedents to consumer trust in banks. Also, reasonable availability of conventional bank branch services was found to be an important component of perceived community focus of their banks, thus having an indirect relationship to
institution-based consumer trust in banks. Community Banks were found to be exhibiting and promoting many of these institutional attributes.
Consumers were found to be less likely to need bank branches for transactional or functional purposes, but branches were seen to be symbolically important. Also, consumers were found to be more likely to identify with intangible elements of their bank, principally bank brand, than with tangible attributes such as the bank branch. Importantly, consumers were found to be trusting of their banks, however
they were more likely to believe that banks were less trustworthy now than they were in the past.
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Alnsour, Muhammed S. "Modelling Relationship Quality in a Business-to-Business Marketing Context: The Jordanian Banks and their Online SME Customers." Thesis, University of Bradford, 2009. http://hdl.handle.net/10454/4883.
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This study provides an understanding on how Relationship Quality is conceptualised in business-to-business marketing relationships. It investigates the relationships of Jordanian Banks with their small and medium sized enterprise (SMEs) customers in terms of Commitment, Satisfaction, Trust, Communication, Transparency, Understanding, and Cooperation. It examines the antecedents and outcomes of the quality of corporate customer relationships by developing a conceptual model which empirically tests this relationship. This research builds and validates a research model based on the literature survey and uses a mixed methods approach. Qualitative data were gathered through in-depth interviews to achieve the goal of refining the initial research model. The second stage is a quantitative empirical study that uses a questionnaire and tests the empirical model generated in the first stage. This integration of methods provides a more complete view of this emerging area of marketing theory. Using Structural Equation Modelling; research findings support the use of a secondorder relationship quality construct consisting of Trust, Commitment, and Satisfaction as a direct outcome of a relationship and is named 'Attitudinal Loyalty'. Antecedents including; Transparency, Communication, Understanding and Cooperation were found to have a positive impact on relational outcome in a business-to-business context in Jordan. The importance of Transparency emerged as one of the most significant determinants of Relationship Quality, which is considered to be a new finding and not common among previous studies. Communication appears to make the biggest contribution overall and have direct and indirect relationships with other variables. It is therefore a major source of success in a business relationship. This research has several implications for the theory and practice. An important issue is the affects on change management. It requires the establishment of business communications to strengthen existing relationships and to form new ones. This implies developing an interactive approach with other parties. This study gives the banking industry an insight for developing their marketing strategy. It also provides a tool to assess the portfolio of relationships, which helps in targeting specific customers. Furthermore, Transparency in the flow of information imposes cultural change. Studying the Jordanian market can help to provide an insight into an emerging economy. Several qualitative findings showed that the relationship between banks and their small and medium enterprises is interesting. All this enriches and adds to the originality of this work and contributes to existing theory by investigating how relationships between partners can be enhanced.
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Rootman, Chantal. "An international comparative study on the relationship marketing and customer retention of retail banks : lessons for South Africa." Thesis, Nelson Mandela Metropolitan University, 2011. http://hdl.handle.net/10948/1376.
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Despite the extensive research undertaken in the subject area of services marketing, much is still unknown to service providers of specific services in terms of firm-client relationships and how customer retention rates can be increased. This study attempts to address this limitation. The study revolves around the relationship marketing and customer retention of banks in South Africa, Canada and the United Kingdom (UK). Service firms, including banks, are vitally important to the economy of any country as they contribute to its Gross Domestic Product (GDP) (for example a 74 percent contribution in South Africa) and its employment rate. However, to survive in a complex, competitive business environment, service firms are required to focus on their clients’ needs. Banks can focus on their relationships with clients and measure their institutions’ success by considering their customer retention rates. When considering firm-client relationships and customer retention rates, it is important to gather and link the viewpoints of both clients and managers in order to ensure that firms perform according to clients’ needs. In order to establish the influence of selected variables on the relationship marketing and customer retention of banks, from the perspectives of both banking clients and managers, an empirical investigation was conducted. The primary aim of this study was to quantify significant relationships among selected variables; therefore the positivistic research paradigm was used. In addition, in designing the measuring instruments for the empirical investigation, the phenomenological paradigm was used. Thus, in order to use multiple sources of data, the strategy of methodological triangulation was adopted for this study. The samples consisted of banking clients and bank managers in South Africa, Canada and the UK. The empirical investigation conducted among banking clients revealed that significant positive relationships exist between six of the seven identified independent variables, namely communication, personalisation, empowerment, ethics, fees and technology, and banks’ relationship marketing. These relationships imply that, according to banking clients, if each of these aspects in banks improves, bank-client relationships would improve. The empirical investigation conducted among bank managers showed that managers only regard communication and fees as influencers of relationship marketing in banks. This result clearly indicated a difference in the viewpoints of banking clients and bank managers. In addition, the empirical investigation revealed that relationship marketing positively influences the customer retention of banks. This relationship implies that if a bank successfully maintains relationships with its clients, the bank’s customer retention rates will increase. Additionally, the empirical investigation revealed that the population group, education level and country of residence of banking client respondents exerted an influence on the perceptions clients have regarding banks’ relationship marketing and customer retention levels. If banking clients are African or are not educated with a qualification beyond secondary school level or are from Canada, they consider the relationship marketing of a bank to be more important and are more likely to be retained by banks. Generally, the study indicated that Canadian banking clients are more positive regarding the empowerment strategies and personalisation efforts of Canadian banks than South Africans are about those of South African banks. In addition, banking clients in the UK are more satisfied with the communication, fees and use of technology of UK banks than South Africans are about these aspects in South African banks. The study indicated that strategies to improve banks’ communication, personalisation, empowerment, ethics, fees and technology should be implemented by banks in ways to positively influence their relationship marketing and ultimately their customer retention. Strategies relating to each of these areas, successfully implemented by banks in Canada and the UK, are recommended to South African banks. In effect, these strategies will contribute to retail banks’ success, the competiveness in the banking industry, banking client benefits as well as the economic stability and prosperity of South Africa.
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Dobosz, Sandra. "Relationship Management in the Banking Industry : The Use of Facebook." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, EMM (Entreprenörskap, Marknadsföring, Management), 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-19804.
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The economic situation and the improved technology weaken the bond be-tween banks and their customers. To adapt to the changing behavior of customers banks engage in Social Media with the aim to strengthen their relationship. However, Social Media may not have the expected effect on the banks’ customers. The purpose of this thesis is to answer whether interaction through Facebook can improve the relationship between Handelsbanken and its customers and whether the employees’ and the customers’ perceived value of interacting through Facebook is equal. The theoretical framework focus on how to build relationships with customers, how to add customer value and what encourages consumers to engage in word-of-mouth. The concept of Social Media is explained and a description of Facebook is provided. The last section in the theoretical framework discusses the implementation of Facebook into the organization of Handelsbanken. A qualitative study was conducted through interviews with employees and customers of Handelsbanken. During the study it was revealed that both the customers and the employees had low awareness of Handelsbanken’s presence on Facebook. The content on the Facebook page does not encourage interaction or add value to the customers. The main problems for succeeding with the Facebook page are absence of marketing and no customer need for interacting on Facebook with their bank. In addition, it was revealed that implementing a centrally moderated communication tool to a decentralized organization is not successful.
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Kuranchie, Frank Kojo. "The Effect of Customer Relationship Marketing on Customer Retention in the Ghanaian Banking Sector : A case study of Intercontinental Bank Ghana Limited." Thesis, Blekinge Tekniska Högskola, Sektionen för management, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-1102.
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Abstract Customer relationship management as a strategic marketing concept has gained tremendous interest among researchers and practitioners in recent times. Within the last two decades a significant number of research works have been carried out on various issues relating to customer relationship management. However, few empirical studies on market orientation and performance have been established in the Ghanaian banking sector. In an effort to contribute to the existing customer relationship management literature, a study of Intercontinental bank Ghana was conducted. A framework of customer relationship management was designed to guide the study. Specifically, this study examines the customer relationship marketing strategies of banks in a developing country like Ghana using Intercontinental bank as a case study. The study employed quantitative research techniques. Semi-structured questionnaire was designed for the study. The findings show that the bank is doing well by maintaining the relationship it initiates with its clients but must work on improving the number of contact time with them as e-CRM provides them with the opportunity to do so. However, a significant finding from the study is the realization that majority of respondents were willing to recommend the bank to others an indication that they were happy with the level of service at the bank. Although significant portion of those who considered the possibility of leaving indicated that they will do so because of delayed transactions. It is in the light of this that the research is said to play a significant role in the banking sector and for the nation as a whole.P.O.Box 3077, Kaneshie, Accra Ghana. 0233 244184980/0233 271015288
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Robertsson, Anna, Jessica Gråsten, and Jonsson Mari Renfors. "Banken som bygger relationer : En studie om hur SEB ökar antalet lojala kunder." Thesis, Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:mdh:diva-12579.
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Problem: På dagens marknad finns det flera olika bankaktörer som konkurrerar om kunderna, vilket även gör att det blir större konkurrens mellan bankerna. Vad är det som tilltalar en kund att stanna kvar hos en bank och bli lojal mot den? SEB bör öka sin kundlojalitet, men själva innebörden av ordet kundlojalitet kan betyda olika saker för olika individer, vilket kan bli problematiskt i SEB:s kommunikation till kunderna. Syfte: Syftet är att undersöka hur SEB omvandlar kundlojalitet till att skapa och utveckla långsiktiga relationer i sitt dagliga arbete. Metod: Den metod som användes till denna studie var av kvalitativ karaktär, då författarna använde sig av intervjuer på anställda inom organisationen. Genom dessa intervjuer insamlades information till studiens empiri, som sedan analyserades tillsammans med den teori som presenterats i studien. Slutsats: Det kan vara lätt att få den uppfattningen att Relationsmarknadsföring (RM) är svart eller vit. Att antingen har ett företag lojala kunder eller så har dem de inte. Istället visar det sig att det finns ett brett spektrum av olika nyanser eller nivåer när det gäller kontakt och kommunikation med kunder. Att kunna anpassa sig utefter kundens individuella behov och situation och leva upp till olika förväntningar, kan vara en god väg till att en kund stannar kvar hos företaget. En lojal kund.Problem: In today’s market, there are several different bank operators competing for customers, including making it more and more competition between banks. What is it that appeals to a customer to stay with a bank and be loyal to it? SEB should increase its customer loyalty, but the very meaning of the word loyalty can mean different things to different individuals, who can be problematic in SEB: s communications with the customers. Purpose: The purpose is to examine how SEB converts customer loyalty to create and develop long term relationships in their daily work. Method: The methodology used for this study was qualitative in nature; the authors used interviews with employees within the organization. These interviews collected information to the study’s empirical work, and then analyzed with the theory presented in the study. Conclusions: It can be easy to get the idea that Relationship marketing (RM) is black or white. That either have a company loyal customers or not. Instead, it appears that there is a wide spectrum of different shades or levels of contact and communication with customers. Being able to adapt to the customer´s individual needs and situation and respond to different expectations might be a good way for the customer to stay with the company. A loyal customer.
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Malhotra, Neeru. "Analysing relationships among frontline employee perceptions of rewards, attitudes and service quality in banking call centres : an internal marketing perspective." Thesis, University of Bradford, 2004. http://hdl.handle.net/10454/3465.
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The basic purpose of the research is to understand the significance of internal marketing in influencing frontline employees'job-related attitudes and service quality. Since rewards are considered to be an important compqnent of internal marketing, this research investigates relationships among frontline employee perceptions of rewards (extrinsic and intrinsic), attitudes (three components of organisational commitment viz. affective, normative and continuance, and job satisfaction), and service quality, in banking call centres. In this context, a conceptual model is presented comprising rewards as the antecedentsa, ttitudes as the mediating variables, and service quality of the frontline employees as the outcome variable. The model is empirically tested through a large sample study that is conducted among 4 call centres of a major retail bank in the UK. Following certain qualitative in-depth interviews at the exploratory stage, structural equation modelling (using AMOS) is carried out on 342 useable questionnaires (response rate of more than 50%), to empirically test the proposed framework for the study. The measurement and structural models, after validation and purification, provided satisfactory fit estimates across absolute, incremental and parsimonious measures. The results highlight the importance of rewards, as part of internal marketing, in maintaining employee attitudes, and improving service quality. Intrinsic rewards (like role clarity, training and skill variety) emerged as the most significant of all, as they were found to impact on service quality directly. Extrinsic social rewards (like supervision and team support) were not found to be significant, while the finding regarding extrinsic organisational rewards-service quality relationship was surprising. Although assumed important for perfon-nance, some had no direct effect (pay, and benefits satisfaction, extrinsic exchange), while others (working conditions and promotional opportunities) exerted a negative direct effect on service quality, although the indirect effect of most of these rewards was found to be positive. However, these rewards were considered important for influencing employee attitudes, which in turn influence service quality. In this context, the importance of employee attitudes like affective commitment and job satisfaction is emphasisedfor service quality. The empirical results of the study also reveal that it is the nature of commitment that matters in commitment-service quality relationship. Affective commitment emerged as the only attitude variable to bear a significant positive relationship with service quality. Job satisfaction was not found to impact on service quality directly, although the indirect effect was found to be positive. Normative commitment impacted on service quality indirectly, while continuance commitment was not found to be effective at all. Besides theoretical and methodological contributions, the thesis also provides strong managerial implications and directions for future research in applying internal marketing for improving service quality of frontline employees in call centres. Keywords: internal marketing, rewards, service quality, commitment, job satisfaction, UK banks, call centres, frontline employees.
Books on the topic "Banks and banking Relationship marketing"
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Supercommunity banking strategies: Winning the war for the customer relationship. Chicago: Irwin Professional Pub., 1997.
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Ritter, Dwight S. Relationship banking: Cross-selling the bank's products & services tomeet your customer's every financial need. Chicago, Ill: Bankers Publishing, 1993.
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S, Ritter Dwight, ed. Relationship banking: Cross-selling the bank's products & services to meet your customer's every financial need. Chicago, Ill: Bankers Pub. Co./Probus Pub. Co., 1993.
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Schell, Charles. Relationship marketing in a corporate banking context. Manchester: Manchester Business School, 1996.
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Hunt, Neal E. Marketing: Handbook. Washington, D.C. (1120 Connecticut Ave., N.W., Washington 20036): American Bankers Association, 1990.
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Accountants, International Federation of, ed. The relationship between banking supervisors and banks' external auditors. New York: International Federation of Accountants, 2001.
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Ritter, C. Dowd. AmSouth Bank: The relationship people. New York: The Newcomen Society of the United States, 2001.
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Newcomen Society of the United States., ed. AmSouth Bank: The relationship people. New York: The Newcomen Society of the United States, 2001.
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Harm, Christian. The relationship between German banks and large German firms. Washington, DC (1818 H St., N.W., Washington 20433): Country Economics Dept., World Bank, 1992.
Find full textBook chapters on the topic "Banks and banking Relationship marketing"
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Salmen, Sonja-Maria. "Entwicklung eines Konzeptes zur Individualisierung der Kunden-Bank-Beziehung im Private Internet Banking." In Electronic Relationship Marketing im Bankgeschäft, 195–315. Wiesbaden: Gabler Verlag, 2003. http://dx.doi.org/10.1007/978-3-322-89918-7_3.
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Tambe, Himanshu, and Sanjay S. Mehta. "A Case Study of a multinational Bank’s Use of Relationship marketing in Corporate Banking." In Proceedings of the 1995 Academy of Marketing Science (AMS) Annual Conference, 240–41. Cham: Springer International Publishing, 2014. http://dx.doi.org/10.1007/978-3-319-13147-4_60.
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Kokkinis, Andreas, and Andrea Miglionico. "The relationship between banks and customers." In Banking Law, 81–104. Milton Park, Abingdon, Oxon ; New York, NY : Routledge, 2021.: Routledge, 2021. http://dx.doi.org/10.4324/9781003133636-7.
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Dubs, Peter. "Strategisches Kundenmanagement und Retention Marketing im Retail Banking." In Relationship Banking, 69–89. Wiesbaden: Gabler Verlag, 1998. http://dx.doi.org/10.1007/978-3-322-82608-4_3.
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Hamid, Baharom Abdul, Syed Najibullah, and Muzafar Shah Habibullah. "Marketing Effectiveness of Islamic and Conventional Banks: Evidence from Malaysia." In Islamic Banking, 51–80. Cham: Springer International Publishing, 2016. http://dx.doi.org/10.1007/978-3-319-45910-3_4.
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Salmen, Sonja-Maria. "Empirische Untersuchung zum Einsatzpotenzial von Electronic-Customer-Care-Technologien im Private Internet Banking." In Electronic Relationship Marketing im Bankgeschäft, 317–93. Wiesbaden: Gabler Verlag, 2003. http://dx.doi.org/10.1007/978-3-322-89918-7_4.
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Kaufmann, Hans Rüdiger. "Profilveränderung des Privat Bankers: Zunehmende Bedeutung des Customer-Relationship-Marketing." In Private Banking im Qualitätswettbewerb um den Kunden, 17–29. Heidelberg: Physica-Verlag HD, 2004. http://dx.doi.org/10.1007/978-3-7908-2697-5_2.
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Santouridis, Ilias, and Melania Stoumbou. "Measuring Customer Relationship Marketing Outcomes in the Greek Banking Sector." In Lecture Notes in Electrical Engineering, 881–90. Berlin, Heidelberg: Springer Berlin Heidelberg, 2015. http://dx.doi.org/10.1007/978-3-662-47200-2_92.
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Abdelkader, Ahmed, Howard Jackson, and John Cook. "Determinants and Antecedents of Relationship Marketing Orientation." In Successful Customer Relationship Management Programs and Technologies, 210–31. IGI Global, 2012. http://dx.doi.org/10.4018/978-1-4666-0288-5.ch015.
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This study investigates the extent of Relationship Marketing Orientation (RMO) in the banking sector of Egypt. The need to deliver a superior value to bank customers has assumed paramount importance as competition intensifies at a fast pace and local consumers become more demanding. This study attempts to answer whether the bank’s ownership style will influence the extent of the bank’s relationship marketing orientation. This empirical study of 32 Egyptian banks is based on the antecedents and determinants of RMO elected from the literature. Findings suggest that different ownership of a bank may exert a different emphasis on RMO. The study reports that RMO is determined by ten antecedents of relationship marketing.
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Dinçer, Hasan, and Fatih Pınarbaşı. "PESTEL Analysis-Based Evaluation of Marketing Strategies in the European Banking Sector." In Advances in Marketing, Customer Relationship Management, and E-Services, 429–48. IGI Global, 2020. http://dx.doi.org/10.4018/978-1-7998-2559-3.ch020.
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This chapter evaluates the marketing strategies in European banking sector. In this context, six dimensions of PESTEL analysis (politic, economic, sociological, technologic, environmental, and legal) are taken into the consideration. On the other side, interval type-2 fuzzy DEMATEL approach is used to weight the importance of these dimensions. The findings show that technological and political factors have the highest importance. Therefore, it is recommended that technological innovations in the banking sector should be followed by European banks. Within this framework, these banks should design a market research department to follow these developments in the market so that new products and services can be identified. Therefore, technological development should be adopted in the strategy development process. In addition, interest rates defined by the central bank should also be considered by these banks. Hence, adopting marketing strategies according to the interest rate policy of the central banks provides a competitive advantage to the European banks.
Conference papers on the topic "Banks and banking Relationship marketing"
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Özdemir, Erdem, and Sıtkı Sönmezer. "The Relationship between Socio-Demographic Factors and Internet Banking." In International Conference on Eurasian Economies. Eurasian Economists Association, 2018. http://dx.doi.org/10.36880/c10.02153.
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Internet banking is becoming prevalent in recent decades. Handy applications are ubiquitous for customers. This study aims to differentiate the customers depending on several factors in internet usage. The effects of sociodemographic factors like gender, age, marital status, time spent in internet banking transactions, monthly income and level of education are tested against internet usage characteristics. Internet Banking is characterized in terms of ease and cost, reliability and usefulness. Data is collected by a survey that uses a Likert Scale; 172 respondents are reached and Kruskal Wallis H test is conducted to shed light to relations among factors and internet usage. Relationship between monthly income and reliability of internet banking transactions are significant at 95%. The relationship between İnternet banking usage and time spent in internet banking is also significant at 95%. Banks that are in competition in internet banking shall assume gender, age and marital status as indifferent but shall focus on customer involvement with internet banking and customers monthly income levels.
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Palmieri, Alessandro, and Blerina Nazeraj. "OPEN BANKING AND COMPETITION: AN INTRICATE RELATIONSHIP." In International Jean Monnet Module Conference of EU and Comparative Competition Law Issues "Competition Law (in Pandemic Times): Challenges and Reforms. Faculty of Law, Josip Juraj Strossmayer University of Osijek, 2021. http://dx.doi.org/10.25234/eclic/18822.
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Open banking – promoted in the European Union by the access to account rule contained in the Directive (EU) 2015/2366 on payment services in the internal market (PSD2) – is supposed to enhance consumer’s welfare and to foster competition. However, many observers are fearful about the negative effects of the entry into the market of the so-called BigTech giants. Unless incumbent banks are able to rise above the technological challenges, the risk is that, in the long run, BigTech firms could dominate the market, by virtue of their great ability to collect data on consumer preferences, and to process them with sophisticated tools, such as Artificial Intelligence and Machine Learning techniques; not to mention the possible benefits arising from the cross-subsidisation. This paper aims at analysing the controversial relationship between open banking and competition. In this framework, many aspects must be clarified, such as the definition of the relevant markets; the identification of the dominant entities; the relationship with the essential facility doctrine. The specific competition problems encountered in the financial sector need to be inscribed in the context of the more general debate around access to data in the digital sphere. The evolving scenario poses a serious challenge to regulators, calling them to strike the right balance between fostering innovation and preserving financial stability. The appraisal intends not only to cover EU law and policy, but also to make a comparison with other legal systems. In this respect, something noteworthy is taking place in the United States where, as of today, consumers’ access to financial data sharing has been largely dependent on private-sector efforts. Indeed, Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (passed in the aftermath of the financial crisis of 2008) provides that, subject to rules prescribed by the Bureau of Consumer Financial Protection (CFPB), a consumer financial services provider must make available to a consumer information, in its control or possession, concerning the consumer financial product or service that the consumer obtained from the provider. This provision, which dates back to 2010, has never been implemented. However, on 22 October 2020, the CFBP has announced its intention to regulate open banking, issuing an advanced notice of proposed rulemaking. In light of their investigation, the authors advocate the adaptation of the current strategies to the modified conditions and, in some instances, the creation of novel mechanisms, more suitable to face unprecedented threats.
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Veganzones, David, and Eric Séverin. "ON THE INFLUENCE OF BANKING RELATIONSHIPS ON FRENCH SMES FAILURE." In Economic and Business Trends Shaping the Future. Ss Cyril and Methodius University, Faculty of Economics-Skopje, 2020. http://dx.doi.org/10.47063/ebtsf.2020.0015.
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Small and medium firms are highly dependent on banks to finance their business activities. Thus, banking relationship may be crucial to overcome financial difficulties and to ensure their continuity. Accordingly, this paper investigates the influence of banking relationship on SMEs failure. In particular, four measures that firms can control to build their banking relationships and, that resemble standard variables from the literature on bank/firms relationships are evaluated: the breadth of relationships (number of banks), the relationship length(relationship duration), the relationship proximity (bank-firm distance) and, the relationship form (type of bank). Applying a logistic regression to a unique sample of 4960 French SME firms over the period 2013-2016, we evidence that banking relationships have a significant role on the SMEs likelihood of failure. More precisely, we find that multibank relationships, working with a small bank and relationship length are significantly negative correlated with SMEs failure. The opposite effect appears in bank-firm distance, which increases the SMEs probability of failure. Additionally, a corporate failure prediction model was built based on both financial ratios and banking relationship variables. The performance of this model was compared to a model based solely on financial ratios as predictive indicators. The results indicate that banking relationship variables possess prediction power to failure and enhance the performance of corporate failure models. Consequently, our findings are important from a policy perspective to further comprehend the role that banks play on SMEs failure.
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Yoganathan, Dhanushanthini, and Charles Jebarajakirthy. "CUSTOMER PERCEPTIONS OF RELATIONSHIP MARKETING ORIENTATION: A COMPARATIVE STUDY BETWEEN PUBLIC AND PRIVATE COMMERCIAL BANKS IN SRI LANKA." In Bridging Asia and the World: Globalization of Marketing & Management Theory and Practice. Korean academy of marketing science, 2014. http://dx.doi.org/10.15444/gmc2014.01.09.01.
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Kretschmar, Matthias. "Financial Market Communication and the Creation of Trust in a Commercial Banking Relationship between Mittelstand Companies and their Banks." In International Conference On Research In Management. Acavent, 2019. http://dx.doi.org/10.33422/icrmanagement.2019.10.969.
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Freimanis, Kristaps, and Maija Šenfelde. "Credit creation theory and financial intermediation theory: different insights on banks’ operations." In Contemporary Issues in Business, Management and Economics Engineering. Vilnius Gediminas Technical University, 2019. http://dx.doi.org/10.3846/cibmee.2019.033.
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Purpose – already for more than one hundred years there is an ongoing discussion about the role and function of banks, which subsequently has affected banking regulation. Three theories of banking were dominant in different periods of the 20th century: Credit creation theory (the oldest), Fractional reserve theory, Financial intermediation theory. Authors are contributing to the theoretical discussion with research showing that Credit creation theory and Financial intermediation theory reflect different insights on banks’ operations. Research methodology – literature review (regarding theories), financial ratio calculations (Loans-to-Deposits ratio); Findings – using Loans-to-Deposits ratio calculations for several banks researchers have found that banks’ lending process can be explained by Credit creation theory however banks’ Strategic Asset-Lability Management can be explained by Financial intermediation theory. Research limitations – (a) only domestic banks were selected as in this research it is important to get the needed relationship between deposits and lending. Subsidiaries of foreign banks could have not balanced balance sheet from Loansto-Deposits ratio perspective as their funding could come from abroad if the business model in Baltics is primarily lending oriented, (b) Baltic market was taken because of know-how of researchers about banks operations here and history of their transformation, (c) audited financial reports were used as they gave a sufficient picture of banks Loansto-Deposits ratio. Practical implications – theoretical discussion in this paper enlightens the role and function of the banks thereby improving understanding of better banking regulation. Authors propose to adjust the current banking regulatory framework which is focused on capital requirements. Originality/Value – current research provides some link between existing banking theories (Credit creation theory and Financial intermediation theory) shaping a new hybrid concept and proposing an adjusted regulatory framework based on this hybrid concept
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Tóth, Tibor. "The Effects of COVID-19 on the Digital Transformation of the Hungarian Banking Sector." In New Horizons in Business and Management Studies. Conference Proceedings. Corvinus University of Budapest, 2021. http://dx.doi.org/10.14267/978-963-503-867-1_06.
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When choosing the topic, I tried to focus on dealing with such a current and ongoing event, we still don’t see the result, and I just find where it develops in three, five, or ten years. Digitization affects all segments and industries to varying degrees, and its impact can be widely demonstrated. Besides, the precarious economic situation resulting from the COVID-19 epidemic further complicates the situation. I found the topic relevant because I am dealing with a phenomenon, a dilemma that directly or indirectly affects everyone and can be useful to a wider audience. During the dissertation, I try to answer the following questions: How does COVID-19 affect the process of digital transformation in the Hungarian banking sector? And how does this affect the collaboration strategies of banks and FinTech companies? In my work, I rely mainly on previous publications and articles by international, prominent researchers. Also, I conducted interviews with Hungarian experts who are currently actively working for Hungarian banks. During the selection of the interviewees, I followed the concept of asking the employees of different financial institutions working at different levels for the most comprehensive picture. In terms of methodology, in addition to processing the interviews and evaluating the literature, I tried to collect and analyze surveys and public data from various commercial banks, regulatory bodies, and major consulting firms. In this article, I have collected trends that have influenced the current state of the banking sector and present the operating environment. In addition to the positive and negative factors influencing the relationship between domestic commercial banks and FinTech companies, I outline a possible scenario for a future digitization strategy for the banking sector. This exploratory research aims to examine the situation and to identify the most important variables and correlations.
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Sakur, Reşat. "The Relationship between Intellectual Capital and Firm Financial Performance; An Econometric Analysis on the Banks which Processed to the BIST." In International Conference on Eurasian Economies. Eurasian Economists Association, 2017. http://dx.doi.org/10.36880/c08.01883.
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Nowadays, the rapid development of information, communication and information technology increases the importance of information. The concept of knowledge management for businesses is becoming the biggest competitive element of the business and the prospect of intangible assets is steadily increasing. This situation gives priority to the concept of intellectual capital, which contributes the most to the value of the enterprises. In the literature, there are many studies on the relationship between intellectual capital concept and firm financial performance, and these studies generally focus on how intellectual capital is calculated. Human capital, structural capital and customer capital, which are the elements of the intellectual capital concept, are more prominent in the banking sector than the service producing sectors and are more evident than the company performance.
The aim of our work is to examine the effect of intellectual capital on banks operating in Turkey and whose stocks are traded on the Stock Exchange Istanbul. In this context, the Intellectual Value Added Coefficient (VAIC) method developed by Ante Pulic was used to calculate the intellectual capital of the banks. In our study, the data of 13 banks under independent supervision during the period of 2009-2016 were analyzed by panel data analysis method and the relationship between intellectual capital and profitability of the banks, profitability of assets, net profit margin and equity profitability ratios were tested. As a result of the analysis made, a positive relationship was found between the intellectual capital of the banks and the financial performance.
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Ekşi, İbrahim Halil, and Yavuz Akçi. "An Analysis of Differences in Firms’ Perception of Banks based on Sectors and Number of Monthly Transactions." In International Conference on Eurasian Economies. Eurasian Economists Association, 2011. http://dx.doi.org/10.36880/c02.00284.
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In this study, it was aimed to put forward the perception differences of banks, one of the most important tool of the capital market which is a political tool to develop financial improvement on owners and managers of firms. The data was collected by means of face to face meetings with the managers of 520 companies from manufacturing, trading and service sectors, randomly selected from Adana, Mersin and Gaziantep provinces. The relationship between the perception of banking services and the number of monthly transactions and provinces with the banks with which their firms have business activities was studied by analyzing the collected data and doing the frequency, percentage and ANOVA tests. According to the results of the analysis, even though there was no difference in terms of sectors, there was seen an important difference in terms of the number of monthly transactions and provinces. The satisfaction of different products and services for the firms having relatively fewer number of monthly transactions is also crucial today, when the customer satisfaction is of great importance.
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Bähre, Heike, Giovanni Buono, and Valerie Isabel Elss. "Fintech as a Mean for Digital and Financial Inclusion." In International Conference Innovative Business Management & Global Entrepreneurship. LUMEN Publishing, 2020. http://dx.doi.org/10.18662/lumproc/ibmage2020/15.
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Finance is shaping human relationship from an economic point of view as well as having influences on social structure and politics. In this relation, Fintech, a combination of the words “Finance” and “Technology”, is defined as “a new financial industry that applies technology to improve financial activities" [11] or as those “applications, processes, products, or business models in the financial services industry, composed of one or more complementary financial services and provided as an end-to-end process via the Internet” [10] or as “any innovative ideas that improve financial service processes by proposing technology solutions according to different business situations, while the ideas could also lead to new business models or even new businesses” [8]. As Bill Gates said “Banking is necessary; banks are not” describing what is happening throughout the financial industry: massive disappearing of traditional jobs, consolidation in the banking industries, robots that advice how to manage and save money. These changes have an impact on the social structure, but also have the potential to systematically promote financial literacy and inclusion. For example Grohmann, Klühs and Menkhoff [7] showed across four indicators of financial inclusion (having a bank account, having a debit card, saving in form of a bank account and the use of the debit card within the last year) that financial literacy is a significant precondition for financial inclusion. To what extent can Fintech applications be used to promote financial literacy and thereby inclusion? And what role do FinTech organizations play in supporting social progress? The aim of the article is to provide a systematic overview of Fintech's potential to promote digital and financial inclusion on diverse levels.