Topic: Online Banking and Customer satisfaction A case study on Lloyd Bank
Aim: To examine how online banking affect customer satisfaction in banking medium – A case study on Lloyd bank”
Objective: Certain objectives which used to craft on Lloyd Bank case study are define and describe as follow:
- To review the literature on online banking and customer satisfaction of Lloyd Bank
- To conduct a primary study on online banking and customer satisfaction of define organisation
- To recommend how Lloyd could use online banking in order to increase profit or customer satisfaction
Research Questions: These are certain number of attribute which used to determine in terms of questions so that a better and define direction could get evaluated in terms of defining effective and beneficial outcome.
- How does the online banking and customer satisfaction enhance user motive?
- What will be the method of primary section going to utilise for online banking and customer satisfaction?
- What are the major recommendation for Lloyd banking in order to increase profit or customer satisfaction?
Literature on online banking and customer satisfaction of Lloyd bank
According to Alalwan, Dwivedi and Rana (2017), online banking is also called as internet banking which is provide electronic commerce method which enable their customers of banks and various other financial organisation that can help in conducting the scope of financial dealings with the assistance of business organisation websites. Along with this, online banking allow their customers for conducting various financial dealings to secure their sites which help in increasing customer satisfaction among Lloyd bank. With the help of online banking, the customers are access internet for paying bills, order some food products and booking movie tickets in easy manner. They will set the password and customers are verify this in better manner. Along with this certificate for online baking does not similar with the telephone and mobile banking. This will also enhancing their customers satisfaction level and create loyalty among people (Alalwan and et. al., 2016). There are various services and facilities which are provided by banks that will reducing the burden of customers for going outside and take any type of risk. Along with this, cited bank provide different facilities of their customers which help in satisfy them with effectiveness in their services. In current time period, the competitive environment help in making effective relationship with their customers regarding banking corporation success and growth. Banking is that procedure which is basically customer oriented services and their main motive is to satisfy their clients in proper manner. The Lloyd bank main motive is to identifying their customers satisfaction which assist in lead towards developing and building relationship with their conceptual framework for formulating effective marketing relation in better manner. For satisfying their customers needs and wants, the bank should adopt various tools and techniques which can help them in easy providing effective facilities to their clients within the banking sector. The bank also introduce different offers and conduct program which assist in analysing customers requirements after that as per their demand, they are developing those facilities and services.
Read this sample: Research Project HND Business Level
Primary study on online banking and customer satisfaction of define organisation
It can be stated that customer satisfaction is measure and evaluate the various products and services which are provided by firm for meet the customer expectation and anticipation in better manner. As per the Bouma, Jeucken and Klinkers (2017) customers satisfaction refers as that large number of customers, total amount of clients who are satisfy with Lloyd bank services and facilities. The introduction of online banking system are define the customer satisfaction which help in increasing income and revenue in effective manner. So the banks are adopting latest techniques and technology which assist in enhancing their profitability in better manner. The ordinary banking services and systems is giving the effective facilities which help them in satisfying their customers towards their offers. Customer satisfaction is analysing the whole attitude and behaviour of customers towards service provider. This will make differences in anticipating and analysing the satisfaction level of client who are save their account in this bank. Lloyd bank can provide satisfaction to those customers who are feeling dissatisfied with their services and facilities. The impact of customer satisfaction on person behaviour and response in better manner. This will establishing the positive environment which help their employees in surviving in the large banking sectors. The bank are developing and making effective strategies which help in giving response towards customer satisfaction and prohibit negative one. Such type of policies and strategies assist in increasing potential level of facilities which can occurs, they are dealing with dissatisfied customers, resolving major issues and problems while this will arise the client complaints in positive way. Sometime customers are also enjoy the electronic banking services and facilities but still this will not satisfied with their quality and efficiency of desired services (Erkan and Evans, 2016). There are various issues and problem are fed by banking services such as security risk, lack of trust, poor regulation and legal frameworks and absence of competition between local and international banking services. Customer satisfaction and online banking services has play an important role in developing strong relationship with their customers in reasonable, convenience and fair charges.
Recommend how Lloyd could use online banking in order to increase profit or customer satisfaction
According to Mumford and Bank (2018), Online banking is that service which attracting large number of customers towards Lloyd bank so this will help in increasing their income and profit amount in effective manner. The network of banks are easily connected with business whether this is domestic and international customers. The bank are adopting and using effective techniques and technologies which help in enhancing their revenue and profitability ratio in proper manner. The online banking has provide various advantages in the large society and community. Also they are offering and serving their effective technologies while executing in the Lloyd bank.
Online banking will reducing the cost and value which they are spend at the time of making different promotional methods for attracting more customers towards their services and facilities. They required to develop and make appropriate strategies which assist in gaining high level of customers satisfaction and also maximise their profitability. On the other hand, online banking services offer great opportunity for maximise the profitability and productivity. The major advantage which has been gain by customers is that this will help in saving time through the automation banking facilities, maintaining effective methods or tools for increasing customer loyalty. There are various other benefits with the help of online banking such as time saving, transaction can be made from any where any place, can check multiple accounts at one click, enhancing competence of business procedures and cash administration that are accessible on internet sites of banks, also giving different type of more advantages. These services and facilities assist in maintaining customers sati