A LITERATURE STUDY ON SERVICE QUALITY AND CUSTOMER SWITCHING BEHAVIOURS IN BANKING INDUSTRY
Received: 19.09.2021; Revised: 28.10.2021, Accepted: 26.11.2021, Published Online: 28.12.2021
Ms Jharana Rani Pattnaik
Ph. D scholar, Centurion University of Technology and Management, Odisha
Dr Anita Patra,
Professor, Centurion University of Technology and Management, Odisha
Email- anita@cutm.ac.in / registrar@cutm.ac.in
Dr Prasanta Kumar Mohanty
Professor, Centurion University of Technology and Management, Odisha
Email- prasanta.mohanty@cutm.ac.in
Abstract
There is constant pressure to attract and retain customers, especially for traditional financial institutions that compete with others by improving the customer service quality. These institutions seek to minimize the possibility of churn or customers leaving them, which could reduce profitability. While these issues are relevant to all banking organizations, we specifically focus on bank switching behaviour in the present research. Based on the literature review, we are aiming to explain why bank switching occurs and provide suggestions for minimizing this tendency. The secondary data were collected from different past published papers and reports. This study presents new insights for both researchers and practitioners in the industry. It suggests ways for improving service quality, decreasing customer switching, and making more money for banks.
Keywords: Service Quality, Customer Switching Behaviours, Banking Industry, Customer Satisfaction.