Customer Satisfaction in Retail Banking

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Abstract
The primary aims of this article are to examine the rationale behind the emergence of customer satisfaction as an explicit corporate objective in retail banking and to postulate the view that if it is to be attained it will necessitate wide-ranging cultural change on a hitherto unprecedented scale. This change will in essence witness the emergence of retail banks as highly cost- sensitive, marketing-oriented organisations. In the process they will become increasingly externally driven, anticipating and responding to customer needs, in terms ofproduct development and delivery systems. Thereby they will recognise that customer service is fundamentally an externally driven strategy, being a response partly to increased competition and partly to increased demands from customers.

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