Banking Communications: A Perceptual Study of Customer Relations

Abstract

Hopefully, effective banking communications would improve and strengthen relationships with the stakeholders and work-team empowerment to achieve desired level of performance directing towards organizational success in changing operating and governing environments. Though the banks and their service have been advancing in Nepal, customer satisfaction in terms of banking communications is still a matter of serious concern. This paper explores perception of banking communications among the customers showcasing bank and customer relations. As a customer relation is one of the key indicators of banks profitability, the attention of banks has been gradually inclining towards customers through via more effective communication initiatives. Effective communication in banks helps their staff and customers in having knowledge about various strategic decisions that are implemented or are going to be implemented, understanding banking policies and procedures, acknowledging various issues related to banking and understanding ways forward for prosperity. The existing literature confirms a very strong positive relationship between communication in practice and perceived level of customer satisfaction. Thus, the banks must adapt proper strategies and techniques of effective communication with the valued customers. Bank procedures on communicating with customers depend on the structural sets and culture of the organization. Moreover, conceptual framework of the banking communications and customer relations also confirms the imperative need for addressing this issue more effectively, especially in changing context of Nepal. This research can be helpful to banks to know how customers perceive over all banking system and work accordingly. Also, it can be helpful to Nepal Rastra Bank for formulating banking policies and other concerned authorities can also be benefited through this research.

The Influence of E-Customer Relationship Management on Customer Experience in E-Banking Service

“…Certainly, successful banks are those that provide accurate, sufficient, and up-to-date information to customers (Sivaraks et al, 2011). Over the past decade, banks have sought to adopt systems and technologies that help them to manage communications and interactions with customers in a good way, because the traditional methods and methods that those banks used in their one-way communications are no longer useful in providing a service journey that the digital customer deems acceptable (Capgemimi, 2016;Parajuli et al, 2020). Today, banks can use multiple channels of Ecommunication with customers such as mobile phone services and social media networks, as well as websites (Armstrong et al, 2020).…”

“…Therefore, banks should constantly evaluate and reconsider their investments related to customer communications. Parajuli et al (2020) explained that customer communications are still a source of concern in the banking industry, this communication is a critical factor in influencing the bank's profitability. In addition, the knowledge that banks acquire through their communication systems will enable the extrapolation of the features of success or failure in the banking policies and procedures taken or that will be implemented.…”

Impact of Bank-Specific Factors on the Banking Sector Development in Nepal

“…Internet banking is e-banking that allows customers to conduct financial transactions electronically over the internet using their personal computers, laptops, or mobile phones at any time convenient for them, rather than being limited to the hours the bank is open (Salehi & Alipour, 2010). Banking communication is getting effective and allowing customers to perform as per their will (Parajuli et al, 2020). According to Salamah (2017), electronic banking has a good and significant impact on Nepal's banking sector development.…”

Promoting Effective Managerial Communication on Banking Sector in Kathmandu Valley: Cross Sectional Analysis

“…Further, it also increases external and internal communication between employees and managers. The study conducted by Parajuli et al (2020) revealed that there is very strong positive relation between banking communication and perceived customer satisfaction thus, banks must adopt proper strategies to manage banking communication in Nepal.…”

“…Managerial communication is important issue but still in Nepalese banking context there are several questions which is not yet answered especially in terms of managerial communication (Paudel et al, 2020;Parajuli et al, 2020). In accordance with managerial communication in decision making, this study targets to provide recommendation relative to the following research questions: Why is managerial communication essential?…”