Title: Impact of digitalisation on customer experience management in retail banking

Authors: Vyankatesh Adke; Priti Bakhshi; Muniza Askari

Addresses: Department of DBA, SP Jain School of Global Management, Singapore ' Department of DBA, SP Jain School of Global Management, Mumbai, India ' Department of DBA, SP Jain School of Global Management, Singapore

Abstract: The rise of Fintech and Bigtech firms have significantly contributed to growth in financial services in Southeast Asia; being further boosted by open finance initiatives instituted by regulators. The main aim here is to offer integrated financial services by making customer experiences fully digital, frictionless, and anticipatory to customer needs, based on digital technologies such as cloud, 5G and artificial intelligence (AI) infusion. This is now challenging retail banks to embark on complex digital transformation journeys by balancing costs and accrued benefits. By analysing existing literature on advancements in digital technologies and the impact thereof on consumer behaviours and customer experience measures, the study presents key insights in the form of a conceptual framework on key factors to consider for improving customer experience that can help retail banks. The scope of the study is limited to Singapore and Indonesia, but the outcomes could be beneficial to adjacent markets in Southeast Asia.

Keywords: customer experience; retail banking; big data; cloud computing; digitalisation; artificial intelligence.

DOI: 10.1504/IJEBANK.2024.136840

International Journal of Electronic Banking, 2024 Vol.4 No.2, pp.154 - 167

Received: 25 Jun 2022
Accepted: 18 Jun 2023
Published online: 22 Feb 2024 *

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