Can retail bank-client relationships be developed online?

摘要

Purpose – The intangible nature of banking services enables financial institutions to deliver them through electronic channels. In addition, the interactive and continuous nature of banking services is conducive to relationship development. It would, therefore, be beneficial for the dyad to build exchange relationships online. This exploratory research investigates the effect of e-banking on the development of retail relationships in Cyprus. Design/methodology/approach – The perspective of both sides of the dyad is incorporated through face-to-face in-depth interviews. The empirical base used is the Cypriot retail banking sector. Findings – The findings suggest that in the specific context, e-banking has a significant impact on relationship development, especially at the first stages of the developmental process, but it cannot substitute the other delivery channels. Research limitations/implications – In view of the contextuality of exchange relationships, it is recognised that the results may be context-specific and as such, future research should investigate the impact of online delivery systems in alternative cultures and service settings. Practical implications – The findings create a number of managerial implications, including the need for banks to invest both in e-platforms and in the development of their employees, as well as the need to systematically appraise customer relationships. Originality/value – The paper is of value to both academics and practitioners as it addresses the pressing need to investigate exchange relationships using a processual perspective and offers insights into the developmental process of Cypriot retail bank-client relationships.