Choice and Convenience for Customers

In the fierce battle over customers, providing a unique experience is the compelling element that will retain customers. A ‘customer first’ approach is critical for success in e-banking. Customers hold the key to success and companies must find out what different customers want and provide it using the best available technology, ensuring that they are acting on the latest, most up-to-date information.

In modern business environments, customers want greater choice. They want the traditional range of banking services, augmented by the convenience of online capabilities and a stronger focus by banks on developing personal relationships with customers. Avkiran (1999) stressed the importance of the human touch in the customer services. Politeness and neatness, recognition in terms of greeting, willingness to provide prompt service, ability to apologise and express concern for a mistake are all important for bank customer. Most of these aspects of customer service cannot be automated. The adequacy of staff members serving customers can
be expected to directly influence the customers’ satisfaction. However, e-banking backed up by data mining technologies can help in better understanding customers’ needs and customizing products/services according to those needs.

Offering extra service delivery channels means wider choice and convenience for customers, which itself is an improvement in customer service. E-banking can be made available 24 hours a day throughout the year, and a widespread availability of the Internet, even on mobile phones, means that customers can conduct many of their financial tasks virtually anywhere and anytime. This is especially true of developed countries, but increasingly in developing countries, the spread of wireless communications means that services such as e-banking are becoming accessible.