Digital Banking Essay

1.11 CUSTOMERS RELATIONSHIPS A SOURCE OF VALUE
Prior to the global economic crisis of 2008-2009, the banking industry has achieved value for shareholders through financial gain. Today's growing systems and competitive challenges force banks to scale down and identify alternative sources of value. To engage in digital banking new digital models guide banks in the direction of customer relationships that offer new sources of value. The focus is on engaging customers and building confidence in the key activities of digital banking: marketing and sales; customers on the rise; account opening and maintenance. Banks have a business cut them. Customer confidence has disappeared from the banking system after the global financial crisis. Large banks

These activities include Money deposits, withdrawals, transfers, account management, applying for Financial Products, Loan Management, Bill Payments and Account Services. Consumer preferences have shifted to online and mobile devices, but the banking sectors had trouble shifting their on boarding experiences online and to smaller screens.
In recent years, the banking industry around the world has been undergoing a rapid transformation. The deepening of information technology has facilitated better tracking and fulfilment of commitments, multiple delivery channels and faster resolution of issues. Today, customers presume highest quality services from banks which, if fulfilled, could result in considerably improved customer satisfaction levels.
Service providers have significant opportunities to manage the interactions that together form the experience. They can design, select, train and manage service employees; design and maintain the service environment; selectively target. Socialise and educate customers. In banking services, satisfaction is usually conceptualised as a multidimensional

E-service quality is defined as overall customer assessment and judgement of e-service delivery in the virtual marketplace. Digital banking is an important innovation which could attain competitive advantage through cost reduction and better satisfaction of customer needs. Clearly, people are exposing themselves to more and more digital and social media. This is for many purposes, including in their roles as consumers as they search for information about products, purchase and consume them, and communicate with others about their experiences. Marketers have responded to this fundamental shift by increasing their use of digital banking channels. In fact, by 2018 approximately one-third of global advertising spending is forecast to be in digital