Banking Sector And Its Benefits

CUSTOMER DELIGHT IN BANKING SECTOR
Introduction:
Banks play an important role in the economy of any country. A sound and healthy banking system is a must for sustainable economic acceleration.Banks occupy a firm strategic position in the monetary and fiscal system of a country. As the world is changing and economies are growing; banks have undergone far-reaching changes in terms of itsoperations and functions it performs. The foundation of the banking sector is its customers. Customer delight refers to foreseeing customer needs, providing solutions ahead of time and presenting theunexpected Customers are satisfied when they are provided with products and services that are according to their expectations. Delighting customer is not as simple as it appears to be. Delighting customersmeans exceeding the expectations of the customers. Since banking sector provides homogenous products and services to its customers so there must be some unique attributes that not exactly meet but alsosurpass the customer’s needs and expectations and gratify them.

Importance of delighting customers:
The whole banking sector rests primarily on its customers. So the challenge for banking sectoris to maintain a strong customer base and for that it’s not about attracting the new customers only but also retaining the existing customers. For maintaining and retaining customers it is veryimportant to understand what customers exactly want , when do they want it and then satisfy them accordingly, thus making customers loyal. In today’s fast changing and competitive world, maintainingcustomer’s loyalty is the key to gain success in banking sector. Delighting customers bring them back again and again; apart from bring in new customers. If customers are delighted they will be loyal.Customer delight is one of the major factors that play a significant role in deciding on whether to do a business with a certain bank or not. Customer delight is giving customers the right experience and...