Customer Engagement and Loyalty Towards Banks: An Evaluation of the Dynamics of Customer Relations in the Banking Industry

Customer relation is a crucial facet in the banking industry which requires persistent and effective efforts to ensure long lasting cooperation and enhance satisfaction. Sturdy customer relation policies and programmes from the side of banks would help in improving customer loyalty. Mass banking and reaching of new customers are the core elements for expansion of the volume of business. However, sustainable growth and development occur only when banks pursue efficient customer loyalty programmes for the retention of existing customers. Exemplary customer relationship initiatives would help to establish ample customer base. Customer engagement is a notion of maintaining warm relations with customers beyond the normal banker customer exchanges. Customer loyalty refers to the assessment of the willingness of customers to do repeated dealings with an organization or brand. The study intends to examine the extent of customer engagement and customer loyalty. It attempts to evaluate the interrelationships between these two facets in a banking scenario.