Abstract
The banking industry has been forced to restructure its processes to get adapted to a more technological environment as a consequence of the changes experienced in the market. Academic literature has paid special attention to the most critical relationship at firms, customers. Customer relationship management (CRM) offers good opportunities to increase efficiencies in this relationship. For this reason, this research analyses to what extent the implementation of CRM systems in the banking industry has offered good results in terms of dynamic capabilities. For that, some dynamic capabilities have been identified after CRMs implementation process has taken place. A theoretical model has been built and empirically validated by means of a representative sample of banking firms applying structural equation model analysis (SEM). Results show how firms, by properly implementing CRM systems, can reach dynamic capabilities. As main practical implications for firms, it is interesting to orient CRMs implementation to reach dynamic capabilities.
Highlights
IntroductionThe consumption habits are continuously changing. It has not just to be with personal desires and new customer needs, but with some other factors such as customer services
Nowadays, the consumption habits are continuously changing
The Partial Least Squares (PLS) algorithm was chosen according to the following criteria: The phenomenon investigated is relativity new, its modelling is at an emergent stage, PLS minimal recommendations concerning sample size, prediction accuracy and comparatively low demands on data multinormality requirements are accomplished (Joreskög & Wold, 1982; Henseler, Ringle, & Sinkovics, 2009)
Summary
The consumption habits are continuously changing. It has not just to be with personal desires and new customer needs, but with some other factors such as customer services. The way customers are informed on products and services is being reinvented and adapted to new technological possibilities in a globalized society (Castells, 2014; Cambra-Fierro et al, 2014; Haddad & Hornuf, 2019). Banks need to be transparent and efficient in processes as a consequence of the economic crisis, where they lost trust from customers (Maiya, 2017). For this reason, this research starting point is the need to know to what extent it is possible to create new capabilities in a context of business model redesign and the current image of the banking system (Bernardino & Martín, 2014, Rubiño & Molina, 2018)
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