Quality in Retail Banking

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Abstract
Quality is increasingly being seen as a key strategic differentiator within the financial services sector in the UK, with most major players undertaking some form of quality initiative. Describes work undertaken within TSB Bank plc to determine both retail customer and staff perceptions of those factors which determine service quality. Initially identifies the models developed by Parasuraman et al. as being the most appropriate for modelling the data, but finds that although the service gap model provides an excellent basis for analysis, the SERVQUAL model is of more limited value. Describes an alternative basis for modelling service quality based on the three dimensions of process/outcome, subjective/objective and soft/hard is described and modelled against the experimental data. Describes some conclusions of significance for retail banking in particular, and service providers in general.

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