Journal of Financial Services Marketing

, Volume 6, Issue 4, pp 333–345

Online customer relationships in the European financial services sector: A cross-country investigation

  • Fiona Ellis-Chadwick
  • Peter McHardy
  • Hildegard Wiesehofer
Paper

DOI: 10.1057/palgrave.fsm.4770063

Cite this article as:
Ellis-Chadwick, F., McHardy, P. & Wiesehofer, H. J Financ Serv Mark (2002) 6: 333. doi:10.1057/palgrave.fsm.4770063

Abstract

Reportedly, over the past 30 years there has been a general sense of willingness, on behalf of suppliers and customers alike, to develop increasingly close ‘emotional’ relationships based on trust. While buyers reward suppliers with brand loyalty, suppliers in turn develop strategies continually to energise this ‘connective’ relationship. As customers and suppliers increasingly become physically connected to one another via computer networks an important emergent issue is whether the nature of their relationship is changing as a result of transactions taking place across these networks. This paper discusses part of an exploratory research project designed to question the extent to which computer-based technologies that previously enabled the building of emotionally connective relationships through the analysis of customer data are instead facilitating anonymous transactional relationships. The project focuses on organisations in three European countriescolon; France, Germany and the United Kingdom. The broad aims are to explore whether consumer segments are emerging, that actually prefer the minimal personal interaction afforded by sophisticated new computer technology, and to examine the extent to which financial service organisations are responding to the demands of such segments. The paper includes an outline of the contextual background, followed by the research methodology and a discussion of the findings. Conclusions are drawn about the implications of these findings for both industry practitioners and academic researchers.

Keywords

Customer relationship managementInternetEuropean financial service sectorbankingcustomer relationse-businesse-commercefinancial brokersfinancial engineeringfinancial institutionsfinancial marketingfinancial modelsfinancial planningfinancial traininginsuranceintermediationKnowledge managementmanagementmarketingmarketing strategypensionsservices qualityvirtual organisations

Copyright information

© Palgrave Macmillan 2002

Authors and Affiliations

  • Fiona Ellis-Chadwick
    • 1
  • Peter McHardy
    • 1
  • Hildegard Wiesehofer
    • 1
  1. 1.Business School, Loughborough University, LoughboroughLeicestershireUK