Reflections on bank–customer interactions in the new millennium

摘要: Having relatively recently embraced the concept of marketing, banks approach new millennium operating in an increasingly competitive and fragmented marketplace with financially literate consumers. This competition combined prevailing low interest rate environment means that traditional extensive branch networks are having their profitability margins squeezed. New technology presents opportunities for to become both more efficient (in terms cost reduction) effective customer profiling informed targeted selling). As many groups customers content interacting bank through remote technological channels (eg phone, Internet) implications bank–customer relationships important. Recent research shows ‘electronic banking’ channels, while being keenly throughout industry, pursued cost-based advantages than business development or relationship management capabilities. Given key power Internet arguably rests its interactive capabilities, predicated upon interactively, it seems appropriate conclude some issues future electronic banking strategy particular emphasis on staff–customer relationships.