Editorial
Article Type: Editorial From: International Journal of Bank Marketing, Volume 33, Issue 6.
Despite the many technological advances that characterize modern banking, human relations and physical presence still remain an important element of the marketing process for most banks around the globe. The first two papers in this issue of the International Journal of Bank Marketing (IJBM) shed light on important research issues relevant to retail banking, specifically in the context of employee-customer interactions. Furthermore, the accumulation of customer transaction data through the various channels of banking has made it possible for marketers to use innovative models and methods to understand how to best serve the customer base – a topic that will be explored in the next group of papers featured in this issue. In addition, papers in this issue will relate to the values and principles that guide ethical business behavior and how they influence not only customer interactions but also the marketing communications initiated by a financial institution.
The first two papers in this issue of IJBM focus on the retail banking environment. The paper by Kashif and Zarkada examines how the interaction between frontline employees and bank customers can enhance the bank service experience and help the co-creation of positive service encounters. Data from both frontline bank employees and customers are used to develop a social systems framework for customer service and to examine cases of customer misbehavior. The results show the importance of consumer communications and the need for bank management to be in close communication and collaboration with frontline employees to identify and resolve customer issues. The second paper in this issue of IJBM by Itani and Inyang further examines the issue of relationship management in frontline positions in retail banking. The authors utilize both customer and frontline employee data to study the effects of empathy shown by sales people in the retail banking environment. Using hierarchical linear modeling the results show that the increased stress experienced by a frontline employee reduces the positive effects that the expression of empathy may have on customers.
The next three papers in this issue of IJBM focus on the potentials that technology present both the bank management and the customers. Zeinalizadeh, Shojaie and Shariatmadari utilize an advanced neural networks (ANN) methodology to determine factors that influence bank customer satisfaction. Using ANN and exploratory factor analysis, they propose a methodology for predicting customer satisfaction that challenges traditional regression-based methods. The paper by Mohammadi further examines technological potentials in bank marketing by examining the adoption of mobile banking services in Iran. The effects of technology usability and customer self-efficacy are examined using a survey of bank customers. Through the use of structural equations modeling (SEM) the results demonstrate that the compatibility of the mobile banking system is the most important driver of consumers' attitudes towards using mobile banking. Sikdar, Kumar and Makkad further examine the potentials of technology by studying online banking adoption in India. The authors deploy confirmatory factor analysis (CFA) methods on bank-customer data and test and validate traditional models of what drives the adoption of online banking.
The next two papers in this issue of IJBM focus on the customers' value system and the bank-customer communications. Abou-Youssef, Kortam, Abou-Aish and El-Bassiouny examine the critical role that religiosity can have on consumers' attitudes towards Islamic banking in Egypt. Both qualitative and quantitative data are used to identify consumer segments based on the degree of religiosity and to link these segments with different degrees of persuasion towards Islamic banking. The paper by Mouna and Jarboui highlights the important role that customer values and financial knowledge can have on their wellbeing. The authors study how the portfolio mix of investors is influenced by their degree of financial literacy. Using data from small investors in Tunisia, the authors demonstrate the effects that factors such as portfolio size, age and financial literacy have on the degree of diversification in individuals'investment portfolios. The importance of increasing financial literacy among the public to counter suboptimal portfolio diversification is highlighted by the findings in this study.
The final three papers in this issue of IJBM focus on bank-customer communications. The paper by Yeh examines the role of customer values by studying the role of corporate social responsibility (CSR) in the wealth management context. Using an SEM methodology applied on wealth management customers in Taiwan the study demonstrates the positive link between CSR and service innovation. The paper by Fatma, Rahman and Khan further examines the issue of CSR by studying the role of trust in the banking context. The role of CSR on building company reputation and brand equity is examined by using SEM on data from bank customers in India. The results indicate the positive effects of CSR on trust and the subsequent positive effects on company reputation and brand equity. The final paper in this issue of IJBM, by Herijgers and Pander Maat also examines the issue of market communications in banking, by studying the disclosure of mortgage information across multiple channels. Using a case study, the paper demonstrates the important role that the timing of information disclosure and related content can have on consumers, and provides managerial recommendations relevant to multichannel communications.
The papers in this issue of the IJBM have examined the wide spectrum of opportunities that exist for financial services marketers today. The important role of CSR in building bank reputation and advancing service innovations is demonstrated. Furthermore, the many uses of technology to enhance mobile and online banking and to identify drivers of customer satisfaction are demonstrated. Furthermore, the complex interactions between frontline employees and customers in the retail banking environment are explored. The range of topics,methodologies, and geography of studies featured in this issue of IJBM demonstrate the richness of research that has come to characterize bank marketing today.
Kent Eriksson and Hooman Estelami
