Customer satisfaction for financial services: The role of products, services, and information technology

In this paper, we study the drivers of customer satisfaction for financial services. We discuss a full Bayesian analysis based on data collected from customers of: a leading financial services company. Our approach allows us to explicitly accommodate missing data and enables quantitative assessment of the impact of the drivers of satisfaction across the customer population . We find that satisfaction with product offerings is a primary driver of o verall customer satisfaction, The quality of customer service with respect to financial statements and services provided through different channels of delivery, such as information technology enabled call centers and traditio nal branch offices, are also important in determining overall satisfaction. However, our analysis indicates that the impact of these service delivery factors may differ substantially across customer segments. In order to faci litate managerial action, we discuss how specific operational quality attri butes for designing and delivering financial services can be leveraged to e nhance satisfaction with product offerings and service delivery. Our approa ch and findings have significant implications for managing customer satisfa ction in the financial services industry.