Banking Sector Customer Centric Service Culture and Corporate Customer Bank Behavior

Abstract

This research paper investigates literature review in corporate customer bank behavior in light of introducing a customer centric service culture to Sri Lankan banking sector and provides a proposal for future research in studying how to create a customer centric service culture in banking and financial sector. Multidimensional nature of customer value perceptions often creates a value paradigm for service providers in understanding their customer behavior and there is a notable dearth of research findings in Sri Lankan banking sector corporate customer behavior. Further there is a research gap in terms of understanding how customer centric attributes and offerings of banking sector can influence corporate customer bank behavior and how banks can be benefited in introducing a customer centric service culture. Therefor this research aims to answer the research question of how to identify and assess customer centric attributes in banking sector. Accordingly, this research examines banking attributes and offerings that can trigger banking behavior of corporate entities and their relationship. In the current research customer behavior is the dependent variable and is observed with several customer centric measures which include satisfaction, repurchase intent, willingness to recommend, meeting expectations, value for money, retention and loyalty. Researchers intend to examine customer behavior with number of independent variables which include customer intimacy, compassion, operational excellence, product leadership, perceived sacrifice which is also identified as cost benefit, technical quality, and service quality of employees, corporate image, convenience and assurance. Rationale and concept for choice of customer centric variables are drawn associating sevqual model service quality dimensions along with previous research findings. Accordingly, researchers have examined the concepts of customer centricity, innovation and technology relevant to customer centricity and customer relationship management, customer satisfaction, service quality and attributes of corporate banking in a customer centric environment. Researchers utilize a quantitative research approach to provide background for future research. A survey questionnaire is also proposed to collect data. In this research several statistical tools are also proposed to investigate how different customer centric attributes can influence corporate customer bank behavior. These include exploratory factor analysis, kaiser-meyer-olkin (KMO) test, bartlett’s test and varimax rotation. These tools are expected to observe the underling pattern and suitability of variables and sample for future research. Multiple regression analysis is proposed to observe the relationship between customer bank behavior and banking attributes. This research paper will provide a significant value to banks in transforming their corporate banking practices more customer centric and do future research on their customer bank behavior to generate value to both customer and bank. Researchers have also recommended a methodological approach to examine the customer centric attributes and their relationship with corporate customer bank behavior