Customer Service Channels Research Articles

Customer Care-Specific Attributes and The Performance of Quoted Deposit Money Banks in Nigeria

This study assesses the relationship between customer care-specific attributes and the customer growth of quoted deposit money banks in Nigeria. In this study, a cross-sectional survey, which is a quasi-experimental method, was employed. This study encompasses the entire Survey Respondents of 105 sample staffs and their bank customers of the 14 quoted money deposit banks in Nigeria, serving as the accessible population for the study. Data Collection Method was the Primary Data Collection designed questionnaire. The Likert scale, consisting of response options such as Strongly Agree, Agree, Disagree, and Strongly Disagree, was employed. The study used Spearman's rho correlation to observe the statistical significance at 1% level. The result showed that p-values for all correlations are highly significant (p < 0.01), suggesting strong evidence that these relationships are meaningful. This provides confidence in the model's fitness in terms of statistical significance in the given results, with the highest being between customer growth and the number of financial products (0.494), indicating a moderate positive relationship. The coefficients show the strength of the relationships, with high values indicating stronger associations. The model's relationships are robust and not due to random chance, indicating good fitness. It was recommended that banks should ensure that customer service personnel are accessible, responsive, and effective by investing in convenient customer service channels. They should regularly provide training and development opportunities for bank customer service personnel to ensure that they can handle customer inquiries and issues effectively. They should recognize and reward the efforts of bank customer service personnel with fair and competitive salaries and benefits to motivate and retain top talent. They should also diversify the range of financial products offered by banks to meet varying customer needs and attract a broader customer base.

THEORETICAL AND APPLIED ASPECTS OF AI IMPLEMENTATION IN FINTECH AS A DRIVER OF SOCIO-ECOLOGICAL-ECONOMIC DEVELOPMENT

Introduction. Financial technologies play a crucial role in socio-ecological-economic development by automating various processes across all sectors and increasing service accessibility not only in large cities but also in every corner of the country. The use of remote customer service channels reduces labor and associated costs, promoting more efficient resource utilization. FinTech supports the growth of financial markets and serves as a vital tool for optimizing both the everyday lives of individuals and the functioning of the entire ecosystem. These technologies significantly facilitate the formation of connections between different sectors, accelerating the attainment of economic, social, technological, political, and other benefits. FinTech not only fosters economic growth but also supports sustainable development by enhancing social inclusiveness and promoting ecological sustainability through more efficient resource use and reduction of the carbon footprint. The purpose of the article. It is necessary to investigate the theoretical and applied understanding of AI in Fintech as a driver of socio-ecological-economic development. Results. Trends in AI, considering sustainable development and financial technologies, highlight the following key directions: Green AI (energy-efficient algorithms; energy consumption optimization); Ethical and Transparent AI (ethical principles; explainability); Inclusive Financial Technologies (financial inclusion; personalized financial services); Innovations in Lending and Risk Management (creditworthiness analysis; risk forecasting); Intelligent Investment Platforms (robo-advisors; micro-investments); Cybersecurity (threat detection; behavior analysis); Sustainable Development through Financial Technologies (investing in sustainable development; impact monitoring). Therefore, it can be argued that the integration of artificial intelligence in financial technologies not only drives innovation in financial services but also upholds the principles of sustainable development, ensuring ethical, inclusive, and efficient practices. Conclusions. Financial technologies are rapidly evolving, stimulating the emergence of diverse services, including internet payments, lending through distributed ledgers, and mobile money transfers. Key directions in the development of financial technologies include fraud protection, business interchanges, and adaptation to regulations, opening up new opportunities for all consumer categories. Transformational trends in fintech innovations significantly impact Ukraine's financial sector, expanding the accessibility of financial services and enhancing the efficiency of financial companies. It is necessary to ensure the creation of appropriate legislative and regulatory environments to guarantee the security and stability of the financial sector in the face of rapid development of digital technologies. The application of artificial intelligence in the financial sector is defined by key directions such as green AI, ethical and transparent AI, fostering innovation and sustainable development, increasing the efficiency and accessibility of financial services.

AI-Enhanced Fintech communication: Leveraging Chatbots and NLP for efficient banking support

The convergence of artificial intelligence (AI) and financial technology (fintech) has revolutionized the way banks and financial institutions communicate with customers. This paper explores the use of AI-enhanced fintech communication, focusing on the utilization of chatbots and natural language processing (NLP) to provide efficient banking support. AI-powered chatbots have become indispensable tools for banks seeking to enhance customer service and streamline communication channels. By leveraging NLP algorithms, these chatbots can understand and respond to customer queries in real-time, providing personalized assistance round-the-clock. The integration of AI into fintech communication enables banks to offer seamless and efficient support, improving customer satisfaction and loyalty. The key to the effectiveness of AI-enhanced fintech communication lies in the ability of chatbots to interpret and respond to natural language input accurately. NLP algorithms enable chatbots to analyze and understand the intent behind customer queries, allowing them to provide relevant and contextually appropriate responses. This capability enhances the overall customer experience by reducing response times and ensuring that customers receive accurate and helpful information. Furthermore, AI-powered chatbots can handle a wide range of inquiries, from basic account inquiries to complex financial transactions. By automating routine tasks and inquiries, banks can free up human agents to focus on more complex and value-added activities. This not only improves operational efficiency but also allows banks to deliver faster and more responsive customer service. In addition to providing support to customers, AI-enhanced fintech communication can also help banks gather valuable insights into customer preferences and behavior. By analyzing interactions between customers and chatbots, banks can identify trends, anticipate customer needs, and tailor their products and services accordingly. This data-driven approach enables banks to offer more personalized and targeted offerings, leading to increased customer satisfaction and loyalty. In conclusion, AI-enhanced fintech communication, powered by chatbots and NLP, offers significant benefits for banks and financial institutions. By leveraging AI technology, banks can provide efficient and personalized support to customers, improve operational efficiency, and gain valuable insights into customer behavior. As AI continues to advance, the future of fintech communication promises even greater efficiency, personalization, and innovation in banking support. Keywords: Al- Enhanced, Fintech Communication, Leveraging, Chatbots, NLP.

Importance of Customer Service Channels, Services, and Products in Financial Culture

In this context where we live, equal access and participation of young people to financial services is a pending agenda. This research aims to determine financial inclusion's influence on higher education students' financial culture. This research is carried out under the parameters of the positivist paradigm with a non-experimental cross-sectional design. It was necessary to apply non-probabilistic convenience sampling to collect the data, obtaining 920 respondents. On the other hand, the exploratory and confirmatory analysis was carried out to find the factorial structure of the constructs. Furthermore, to test the proposed theoretical model, applying the methodology of structural equations was necessary. The results indicate an influence between the study variables, obtaining a ?= 0.855 and a p-value of 0.000. Besides, financial products influence financial culture with a ?= 0.331 and a p-value of 0.000), financial services in financial culture with a ?= 0.321 and a p-value of 0.000, and customer service channels in financial culture with a ?= 0.279 and a p-value of 0.000.
 
 Received: 11 November 2023 / Accepted: 28 January 2024 / Published: 5 March 2024

Companies Adopting Social Media for Successful Development of Relationship Marketing with Customers

Relationship marketing is the technique of developing and sustaining mutually beneficial ties between a firm and its clientele. It provides businesses with a competitive edge and enables them to expand into new opportunities while maintaining customer satisfaction. To assess the extent of the impact, exploratory research, inductive techniques, qualitative research, surveys, convenience sampling, thematic analysis, and ethical consideration were used to collect primary data. The results showed that companies should use social media as a customer service channel, get insight into competitors, stay abreast of market trends, and ask customers for feedback. Companies should prioritize customer satisfaction and invest in building and nurturing customer relationships to secure long-term loyalty.

Omnichannel Approach to Customer Service in the Digital Economy

Relevance. The current conditions for the development of the customer service system in companies of various business profiles are characterized by the influence of many factors: from uncertainty and increased risks against the background of the consequences of the coronavirus pandemic and sanctions pressure to the digital transformation of business processes. At the same time, generations of potential consumers are changing, which contributes to the transformation of approaches to customer service and their requirements for the quality of products, services and services.In this regard, the relevance of finding new customer service channels, expanding the sphere of promotion of products and services to potential consumers, as well as mastering new methods and technologies of client services is growing. The implementation of these areas is possible on the basis of the development and implementation of an omnichannel service system for a potential and formed client base.The purposeof the study is to identify modern trends and potential for the development of an omnichannel approach to customer service in the context of the digital transformation of the Russian economy.Objectives: highlight the factors of changing the paradigm of customer service; determine the directions of transformation of customer service services; identify the prerequisites for using the omnichannel approach to the implementation of client services and the potential for its development in the modern conditions of the digital economy.Methodology. In the course of the study, general scientific methods were used: scientific abstraction, analysis and synthesis, generalization and extrapolation.Results. The study made it possible to form and highlight the following scientific results: the essence and content of the omnichannel approach to customer service was determined; the classification of channels and customer service services in the aggregate of the omnichannel approach was given, promising directions of omnichannel service systems in the digital economy were identified.Conclusions. The digital transformation of business processes affects the customer service system, primarily in terms of the choice of specific channels and services, as well as an integrated approach to their implementation. Customer focus as a basic trend in the development of modern business contributes to improving the efficiency of the customer service system based on omnichannel services.

Practical aspects of the introduction of innovative technologies in banks

This scientific article presents a study of the directions of the introduction of innovative technologies in the banking sector. The authors consider innovative technologies used in banks, give examples of successful implementation of these technologies in world practice and in the Russian market, such as the introduction of digital customer service channels, online banking, the use of artificial intelligence and machine learning, the introduction of blockchain technologies and others. The article also contains an analysis of the advantages and risks of introducing innovative technologies, as well as provides recommendations for their successful implementation. In addition, the authors present the prospects for the development of the banking sector in the context of the use of innovative technologies. The article suggests aspects of the introduction of innovative technologies that are of practical interest to banks, managers and researchers who are interested in the application of innovative technologies in banks.

The Effect Of Customer Experience On Repurchase Intention With Customer Engagement As An Intervening Variable

In this era, the business world is increasingly competitive, making companies look for creative ideas and breakthroughs so that consumers remain loyal and have a repurchase intention on the products offered. Several variables, including customer experience and customer engagement, are influential factors in the occurrence of repurchase intention. This research aims to analyze the impact of customer experience to repurchase intention, with customer engagement as an intervening variable. This type of research is explanatory and intends to describe and test the causality between the variables studied. The data sample used 223 skincare user respondents with a nonprobability sampling method. For research testing, two sub-models were carried out, namely the outer and inner models, then data was analyzed using the Structural Equation Model Partial Least Square (SEM-PLS) method. This study’s results indicate a significant effect of customer experience on repurchase intention, with customer engagement as an intervening variable. Based on these results, to achieve optimal outcomes, the company needs to ensure that customers are actively involved in interactions with the company, whether through customer service, social media, or other communication channels. By increasing customer engagement, companies can strengthen the effect of customer experience to repurchase intention, thereby improving business performance and increasing customer loyalty

UKRAINIAN FINANCIAL MARKET DURING THE WAR: REALITIES OF FUNCTIONING

Introduction. The war in Ukraine has a significant impact on the financial sector in general and the financial market, in particular. Without exaggeration, the year 2022 became a turning point for the Ukrainian financial market, as well as an indicator for the entire global financial system regarding its stability and flexibility, speed of response to challenges and adaptability, the ability and readiness to introduce innovations, acceptance of challenges by all market stakeholders. The main triggers of the functioning of the financial market are the rapid and client-oriented digitalization of services; volatility of regulatory policy due to Russia's military actions in Ukraine; immediate response to changes in conditions of limited access to financial resources; quick adaptation to work with clients under conditions of strict limitation of financial transactions. The answers to these challenges were: virtualization of services through cooperation with Fin-Tech companies and, as a result, the emergence of new tools in the financial services sector; forced transition and the inevitability of acceptance of new online offers by financial intermediaries; diversification and hedging of savings by converting them into currency-equivalent deposits and cryptocurrencies; modification of mobile banking applications. The purpose of the article to is analyze the realities of the functioning of the financial market of Ukraine during the war and to scientifically justificate the challenges of the financial sector in the conditions of the isolation of the financial market due to the introduction of martial law; identify the key development challenges, the latest financial and military activity trends; identify the channels of implementation of financial innovations by intermediaries of the financial services market; outline the triggers for the development of the financial market of Ukraine and understand the prospects for the introduction of new business models for financial market participants. Results. It was found that the financial market of Ukraine is a "key financial front" for ensuring the stability of the entire financial system; the war has a huge impact on the functioning of all components of the market and is an "indicative marker" of the mood in the country. It is shown that in conditions of systemic challenges and threats, innovative approaches in the field of financial technologies have a significant impact on the financial market landscape, which are widely implemented in all its areas, expand the functionality of financial intermediaries, offer diversification of tools and work methods, expand opportunities for participants, modernize existing norms and rules and, most importantly, establish new traditions and develop new habits in all participants of the financial market. It is argued that the main reason for radical changes and innovations, both in regulatory policy and in the daily activities of financial market participants, is the war in Ukraine, which became a catalyst for the revision of many policies and approaches to activity. It has been demonstrated that new vectors of financial sector development are crystallizing in the financial environment, which are aimed at: digitization and automation of most financial processes; raising access to financial services to a qualitatively new level; creation of new offers in the field of financial services with an emphasis on their inclusiveness and accessibility through the use of remote customer service channels using virtual communication technologies. It has been proven that during the russian aggression, the financial market developed high loyalty and flexibility when introducing new products; established a network of new partnerships; changed the focus of activity to the effective use of technological solutions in the financial sphere. It is substantiated that the key determinants of the functioning of the financial market in the conditions of martial law are: deep understanding of the essence of market problems; adaptation of the legislative field and flexibility of prudential supervision; introduction of innovations in the development of new financial products and digitization of existing products; creation of favorable conditions for the activity of financial intermediaries in the market. Conclusions. Based on the results of the conducted research, the following conclusions were drawn: new trends regarding the development and introduction of the latest financial tech nologies in the activities of financial intermediaries are outlined in the financial market; in modern realities, changes are taking place in the landscape of the domestic financial market – the war became a catalyst for the "survival" of both institutions and products; repurposing to remote work with clients creates a platform for promoting new products and introducing new business models.

Rancang Bangun Fitur Chatbot Customer Service Menggunakan Dialogflow

The quality of providing customer service channels is very influential on customer satisfaction. To keep customer satisfaction, it is necessary to have a good interaction from customer service to the customer. In this case, PT Dian Prima Jayaraya is one of the companies that utilize Solo's application product as a medium for customer service. The development of the Solo application makes the application's features more complex and makes it difficult for users to do activities in the application. Customer service has a role in accommodating questions and answering difficulties experienced by users. The number of incoming questions is quite large, so that the existing customer service team cannot answer. Ignored or unanswered questions can lower the level of customer satisfaction. Therefore, we need a system that can help optimize customer service in a Chatbot to minimize unanswered customer questions. A chatbot is a service powered by rules and artificialintelligence, which the user interacts with through a chat interface. The Chatbot will be built on an iOS prototype application and use the NLP (Natural Language Processing) platform, namely Dialogflow. This platform will process and scan every question given by the customer.

Research on an Interactive Question Answering System of Artificial Intelligence Customer Service Based on Word2Vec

In order to reduce the labor cost pressure of telecom operators' customer service and improve the service quality, the natural language analysis technology based on artificial intelligence technology will realize the automatic question and answer customer service.This paper proposes to obtain word vectors based on Word2vec model. By comparing the word vectors under different training model parameters, the results show that the low-frequency word threshold plays a better role in controlling the number of the final trained word vectors. The training results of SKIP-GRAM model are better than that of CBOW and the word list is more regular. Under the condition of making full use of the existing customer service knowledge resources, the new system will realize the goal of innovating service means, expanding customer service channels, diverting customer service pressure and improving service efficiency.

Social anxiety and the consumer: Examining the relationship between social media users’ level of social anxiety and attitudes toward customer service channels

ABSTRACT Customer service is an integral part of a company’s marketing strategy, and particularly important is understanding customers’ attitudes toward customer service channels. Unfortunately, little is known about the attitudes of individuals with social anxiety toward customer service channels. This paper contributes to the customer service research literature by exploring the link between consumers’ degree of social anxiety and attitudes toward customer service channels. It particularly focuses on the social media channel, as increased social media use has been observed among users with social anxiety. Data were collected through an online survey of 97 respondents. Survey respondents were asked to evaluate ten customer service channels on their ability to provide on three relevant attributes of customer service and rate twenty statements from the Social Interaction Anxiety Scale. Multiple linear regression analyses revealed a significant, positive linear relationship between level of social anxiety and attitude toward the self-service and online live-assist customer service channel types, but not the social media nor offline live-assist channels.

Customer engagement model and consumer behaviour within omnichannel retailing

Retailers can use communication, sales and customer service channels in a variety of ways. Omnichannel retail is described as the set of activities related to the sale of goods and/or services through all the widely used channels, where the customer can have full channel interaction and/or the retailer can control the full integration of the channels. The current study focuses on the factors affecting customer engagement in omnichannel environment, the data collection was conducted with a questionnaire and among others the findings show that the higher the levels of channel integration quality, the higher the levels of customer engagement for the customers. Therefore, the findings indicate that channel integration quality is an important variable which is strongly connected with customer engagement. Additionally, it can be stated that several factors can result on higher levels of customer engagement and their significance should be considered in any strategic decision.

Development of the functionality of mobile applications in crisis situations: the case of Polish commercial banks

Purpose: This paper aims to contribute to the field by exploring the development of the functionality of mobile applications in crises using commercial banks as an example. Design/methodology/approach: This research was conducted between 2020 and 2022 in 13 commercial banks, performing a total of 390 complete tests of mobile applications by 30 clients (respondents). Findings: It was found that mobile applications are becoming a significant customer service channel in some banks. In addition, the mobile application is helpful for the client since it can replace personal contact with the bank in terms of service without needing additional support from an advisor in other contact channels. It was also found that crises significantly accelerate the development of mobile applications to meet customers' needs and expectations. Research limitations/implications: The research was conducted as part of the Institution of the Year project in 2020, 2021, and 2022. The study was carried out in 13 commercial banks, performing 390 complete tests of mobile applications by 30 clients (respondents). Practical implications: Crises, which have occurred frequently in recent years, force managers to take measures to respond quickly to the needs and expectations of customers. The outbreak of the Covid-19 pandemic made it impossible for many customers to contact direct sales field personnel directly. The banking sector has also been affected by this problem. Although banks had used mobile applications for some time, customers could only use a limited set of functions. They had to go to a bank branch to open an account or take a loan. Social implications: To meet customer requirements, bank managers make strategic decisions to improve mobile applications to meet the needs and expectations of customers and achieve a high level of satisfaction. There are many studies on responding to crises in various sectors. The research results will positively influence the improvement of the quality of services as well as the progress of the quality of life of society. Originality/value: No research has been conducted on customers' role in creating new mobile application improvements. Therefore, the article presents the research results in this field, and the appropriate conclusions were drawn. Keywords: banking strategies; usability of banking applications; digitalization of banking industry; functionality of mobile applications; crisis. Category of the paper: Research paper.

GLOBAL FINANCE AND FINTECH: CHALLENGES, TRENDS AND SYSTEM DETERMINANTS OF DEVELOPMENT

Introduction. Recent years have become, without exaggeration, turning points in the de­velopment of the global financial environment and the financial technology sector. Among the main triggers of change are global digitization; quarantine restrictions caused by COVID-19; military aggression and full-scale Russian invasion of Ukraine. The answers to these challenges were: virtualization of FinTech and the emergence of new tools in the financial services sector; development of new habits in the use of non-banking services; partial transfer of savings into cryptocurrencies; improvement of mobile financial applications and introduction of innovative IT technologies in the financial sphere. The purpose of the article is to scientifically substantiate the modern challenges faced by the global financial environment and the market of financial technologies (including in wartime condi­tions); identify main trends in the development and implement financial technologies in the world market of financial services; outline the system determinants and prospects for the use of innova­ tive solutions by financial intermediaries with the aim to create a safe space and protect personal data; justify the need to introduce artificial intelligence in the field of financial technologies. Results. It was found that financial technologies significantly affect the landscape of the mod­ern global financial environment, its spheres, functionality, set of tools, internal and external struc­ture, expand the range of opportunities, modify rules and establish new traditions. It is argued that the global challenges caused by the global financial crisis of 2008, the COVID-19 pandemic and the war in Ukraine created the prerequisites for the development of innovations in the field of financial technologies. The research has shown that new trends in the development of financial technologies are outlined in the global financial environment, and in particular: automation of var­ious processes in all industries; improving access to financial services in all segments and areas of the global financial environment; inclusiveness and accessibility of financial services through remote customer service channels and virtual communication channels. It has been proven that during the Russian aggression, FinTech companies developed flexibility and loyalty in product development, developed a network of new partnerships, and changed the focus of their activity from the marketing sector to business efficiency and profitability. It is substantiated that important determinants of the development of the field of financial technologies are: deep understanding of the essence of market problems; reformatting of the legislative field and prudential supervision; implementation of innovative ideas into a real final product; favorable conditions of taxation in the field of entrepreneurial activity; high quality and availability of the Internet. Conclusions. Based on the results of the research, it was concluded that new trends re­garding the development of FinTech are being outlined in the global financial environment, which have significant consequences for the growth of financial markets and optimization of the global financial ecosystem. Changes in the global FinTech landscape are predicted due to the operation of the "FinTech sandbox"; expansion of customer service markets and accounts’ management; the opening of opportunities for the emission of electronic money by non-banking financial institutions and the use of ARI technologies, which will eventually allow FinTech market companies to offer new products and implement new business models.

A omni-channel transformation in a Brazilian Retailer: the role of Supply Chain

As a more comprehensive evolution of the concept of customer service channels, the omni-channel was driven by the new information communication technologies that have brought the consumer a new dynamic in the relationship with retailers. This new dynamic imposes on the retailer a series of changes in its internal management processes. The consumer shopping journey can start in the cell phone, go through a physical store for experimentation or withdrawal of the product or service, and end up in a social network from an opinion, good or bad, about the service or product. The technology alone is not enough to ensure that during that journey the consumer has satisfactory experience that can boost new sales. It is up to the retailer to prepare its numerous business processes and also its organization, composed of people with their due roles and responsibilities, for this new dynamic. For its part, this consumer when perceiving this value offer is willing to reward the retailer through engagement with his brand and new purchases. In this context, among the most important processes to be adapted to the omni-channel are those involved with the supply chain. A perfect synchrony of this chain is what guarantees products, services or both at a fair price, in the right place and at the right time. This study seeks to investigate, through a single case study, how the introduction of the omni-channel is being managed by a national retailer that markets durable goods of several segments.

Does Active Service Intervention Drive More Complaints on Social Media? The Roles of Service Quality and Awareness

ABSTRACT Despite many advantages of social media as a customer service channel, there is a concern that active service intervention encourages excessive service complaints. Our paper casts doubt on this misconception by examining the dynamics between social media customer complaints and brand service interventions. We find service interventions indeed cause more complaints, yet this increase is driven byservice awareness rather than chronic complaining. Due to the publicity and connectivity of social media, customers learn about the new service channel by observing customer service delivery to others—a mechanism that is unique to social media customer service and does not exist for traditional call centers. Importantly, high-quality service reduces future complaints. As a result, proactive customer service is a sound strategy on social media, as long as firms dedicate to service quality. Hence, firms should be less concerned about whether to respond and more focused on how to respond to customer complaints.

Does Active Service Intervention Drive More Complaints on Social Media? The Roles of Service Quality and Awareness

Despite many advantages of social media as a customer service channel, there is a concern that active service intervention encourages excessive service complaints. Our paper casts doubt on this misconception by examining the dynamics between social media customer complaints and brand service interventions. We find service interventions indeed cause more complaints, yet this increase is driven by service awareness rather than chronic complaining. Due to the publicity and connectivity of social media, customers learn about the new service channel by observing customer service delivery to others – a mechanism that is unique to social media customer service and does not exist for traditional call centers. Importantly, high-quality service reduces future complaints, thereby proactive customer service is a sound strategy on social media, as long as firms dedicate to service quality. Hence, firms should be less concerned about whether to respond and more focused on how to respond to customer complaints.

Impact of COVID-19 in Albania - How Will Banks Change the Way They Operate Now? Focus on Customer Service Channels

The COVID-19 pandemic is continuously spreading all around the world causing an unprecedented human, economic, and social crisis, whose consequences are still unpredictable. Albania is also facing a crisis caused by the lockdown of economic activity and the isolation of the population to control the pandemic. The new normality at the end of the crisis will be very different than before, so the banking system should adapt by implementing innovative strategies. This research paper is concentrated on how will banks change their customer service strategy by implementing omnichannel banking as a competitive strategy for thriving in the future. In the first section is presented the background information about the current economic effects of COVID-19 in the world and Albania focusing in the banking sector, to analyze how omnichannel strategy on customer service will help bank operations to adapt the new normality and to suggest innovative operative solutions on the banking system in Albania. The methodology of this research paper consists of the descriptive methodology using secondary data from case studies and surveys measuring customers’ perceptions about banking service channels. The main findings are: the negative impact of COVID-19 in the global economy and in Albania, the urgent need of the banking system in Albania in implementing new strategies about customer approach such as innovation of branches and digital channels.

TRENDS OF FRAUD OPERATIONS ON THE BANKING MARKET AND APPROACHES OF CYBERSECURITY AS-SESSMENT

The article emphasizes the identification of current trends in fraudulent transactions in the banking market. It is revealed the critical factors of cybercrime development in the financial sector. To ana-lyze research on trends in fraudulent transactions in the banking market and approaches to assess-ing cybersecurity, a map of scientific bibliography is formed using the software product VOS-viewer, based on Scopus database publications in terms of the intersection of queries in such cate-gories as "banking" and "cybersecurity." Cybersecurity problems in banks, types of cyber fraud, and types of software that have been developed and implemented in recent years. It is presented a graphical visualization of the main risks, the growth of which is expected soon. It is formed the rat-ing of the most common types of fraud in banks. The article is stressed on a structural analysis of priority sources of cyberattacks in the banking market. It is described options for malicious soft-ware to interfere with banking programs. The relevant requirements for building a system of coun-teraction within the internal processes of the bank are considered. Emphasis is placed on incidents of making an adequate organizational structure, educational work with staff in the field of informa-tion security and risk management, the use of modern technologies, creating an effective manage-ment system and decision-making. It is conducted a comprehensive analysis of the bank's customer service channels, most prone to cybercrime attacks. The investigation is stressed on restrictions designed to protect bank accounts from unauthorized access. The article contains a list of problems that may arise in the bank's customers when using the affected software, which forces banks to im-plement anti-fraud systems. It is considered the latest approaches to countering bank account at-tacks. The article contains malicious software (Ramnit, Trickbot, Ursnif, Gustuff, IcedID, IcedID, Panda, Zevs), which has affected banks in recent years, causing significant material damage. Mod-ern approaches to the assessment of the information protection system in general and cybersecu-rity, in particular, are identified.