Rising world affluence and an aging global population have led to expansive growth in the financial services market in recent years. When coupled with advances in information technologies (IT) and the Internet, the demand for services opens global opportunities for financial service firms and consequently will heightened competition. To gain a competitive edge, many firms have turned to customer relationship management (CRM) to seek a greater understanding of their customers’ needs and expectations, and better manage their customer care to gain customer loyalty. However, financial services firms entering global electronic marketplaces face a special challenge in building loyalty and trust. In the absence of face-t o-face meetings, firms must devise other means or channels to interact and collaborate with their customers. The results of a survey conducted on financial services consumers in Taiwan suggest that CRM practices in loyalty programs and crossselling, customer satisfaction and customization, and multiple channels have positive effects on behavioral and attitudinal loyalty. However, multiple channels has a moderating effect on the relationship between customer serv ice and customization, and behavioral loyalty, and a partial effect on loyalty programs and crossing-selling with attitudinal loyalty.
Chen, Jashen and Ching, Russell K.H., "The Effects of CRM Practices and Multiple Channels on Customer Behavioral and Attitudinal Loyalty in Financial Services" (2006). ICEB 2006 Proceedings (Tampere, Finland). 12.