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On Importance of Loyalty for Bank’s Activities

Author:

Anna I. Serebrennikova

Abstract:

Thus far, the essence of customer loyalty towards banks has been a disputable issue. Besides, the peculiarities of customer loyalty in banking remain poorly studied. Having performed a terminological analysis the author systematizes the ideas about the essence of loyalty and identifies the common features. The characteristics of loyalty are considered regarding the specifics of banking products and banking generally. The author demonstrates that the loyalty system is based on relationships between a bank, its employees and clientele. The elements of the loyalty system include subjects, objects, manifestations of loyalty and tools for building it. The enhancement of knowledge about the aforementioned elements will allow utilizing customer loyalty fully as a competitive advantage.

Keywords: loyalty; loyalty system; competitive advantage of a bank; banking products and services.

For citation:

Serebrennikova A.I. K voprosu o znachenii loyal'nosti dlya deyatel'nosti banka [On Importance of Loyalty for Bank’s Activities].   Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2016, no. 6 (68), pp. 46–56.