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Running head: BLOG POST


Reasons for not Adopting Online Transfer Delay Policy
Aathira Devan
Wilmington University
IST 8100
Prof. Nancy McDonald

Parvatiyar and Sheth (2001) define Customer Relationship Management (CRM) as “a comprehensive strategy and process of . This would thereby impact the customer experience to a great extent. Barclays bank adopted the online-transfer delays feature to detect suspicious activities on customer accounts (Baltzan & Philips.BLOG POST 2 Reasons for not Adopting Online Transfer Delay Policy Due to large number of phishing attacks in the banking sector. The online transfer feature facilitates several hours of delay when fund transfers have been conducted between multiple accounts to the same account or when accessed from different locations during a particular time interval. 2012). the customers would not able to gain access to their banking services. 1997). In case of an emergency. Customer “satisfaction is a critical strategic weapon that can bring increased market share and profits” (Anton & Perkins.

July 31. and communicate back to the banking organization” (“How to build”. it is required to satisfy customers. Karuvathil. In a highly competitive work environment. give and get recommendations. July 31. empowered by online and mobile channels that provide more ways to buy. Both “business buyers and consumers have more choices than ever before. personal communication.BLOG POST 3 acquiring. the cost to attract a new customer is more than retaining an existing customer. Customers are opting for those banks that are providing better service and convenience. This feature focusses on the customer centric needs and helps the customer to notify the bank about their travel plans ahead of the travel (A. 2015). an organization’s capacity to deliver high quality service is considered to be the key to a sustainable competitive advantage as it results in contented customers. 2015). To retain customers. retaining and partnering with selective customers to create superior value for the company and the customer” (p. A customer has the freedom to choose among different banking organizations on the basis of the services offered by them. Business leaders have realized the importance of being close to the customer in recent times. According to Kaura (2013). . 2015). customer satisfaction should be anticipated as one of the most important competitive factors for the future because it is an indication of a firm’s ability to make profit. For instance Bank of America through its online banking portal offers “raise a travel flag” feature to its customers (A. personal communication. Furthermore. 6). Karuvathil.

S. P. NY: Customer Service Group Baltzan. In IST 8100 integrating the enterprise. IS function & IS technologies Wilmington University (pp. New York. D. 3450). (2000)... Boss. 70-77. McGranahan. Retrieved from http://web. & Phillips. D. (2012).BLOG POST 4 References Anton.b. sid=abb2b4d3-91cc-42e8-b503-3d7fcc634b09%40sessionmgr114&vid=0&hid=102 .16 steps to a successful customer satisfaction measurement program. Plug-In B5: Networks and telecommunication.wilmu. & Perkins. (1997). Listening to the voice of the customer . (3). & Mehta. United States of America: The McGraw-Hill Companies. J. Will the Banks Control Online Banking? Mckinsey Quarterly. Inc.

1080/08911762. (n.d). India: Tata McGraw-Hill . PWC.2013. 18-27. N. doi:10. Retrieved from http://www. & Sheth. Service Convenience.779405 Parvatiyar. and Customer Loyalty: Study of Indian Commercial Banks. A. Customer Satisfaction. J.jhtml Kaura. (2001). Journal of Global Marketing.BLOG POST 5 How to build a customer-centered organization to gain competitive advantage. New “Conceptual framework of customer relationship management”. 26(1). (2013).