Please use this identifier to cite or link to this item: http://hdl.handle.net/11144/4551
Title: An Approach to Customer Trust in the Portuguese Banking System
Authors: Cabeças, António
Santos, António Duarte
Keywords: Banking
Customer Satisfaction
Customer trust
Customer loyalty
behavioural economics
Bank customer
Issue Date: Dec-2018
Abstract: Globalization, seen as a simultaneous transformation in economics, politics and culture, has led to more intense competition in different sectors of the economy. In the banking sector the analysis of customer satisfaction, loyalty and trust has been considered of great interest in recent years. In this study, we analyse the development of bank customer satisfaction and loyalty and, with more detail, the development of customer trust, using the results of surveys carried out with relevant statistical samples in Portugal and, for the first time, we also extend this analysis to bank customers in Spain. Scientific development, particularly in the field of behavioural economics, which includes many contributions from psychology and sociology, as well as in the field of neurology, which gave rise to neuroeconomics, allowed for the adaptation and change of traditional economic decision-making theories, based only on economic rationality, in the wake of the Cartesian dualism and Newtonian atomism, allowing for a better understanding of decision-making. It has been demonstrated in previous studies that the currently most relevant element for customer approval and loyalty to their main banking institution in Portugal is trust. Therefore, the growth or downward trend of these two variables will be a good indicator to understand the development of customer trust in banking evolution. It has been verified that customer trust in banking and in the development of banks in the last years is not as negative as could be expected, considering all the problems that have affected this sector, mainly in Portugal. However, customer satisfaction has been declining over the past two years. A significant change in the banking activity is taking place, a different approach has been implemented, and this change may lead to a decline in customer trust.
Peer Reviewed: yes
URI: http://hdl.handle.net/11144/4551
metadata.dc.identifier.doi: 10.35808/ijfirm/186
ISSN: 2047-0916
Publisher Version: https://www.journalfirm.com/journal/186?fbclid=IwAR3LifDHyCL9FC9TcVqD8tsKdQEpNq9CZ4dpyKd8eWA3kfC17GDeE5tDY44
Appears in Collections:DCEE - Artigos/Papers

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