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Indian Journal of Finance

ISSN: 0973-8711 Frequency: Monthly Peer Review: Double-blind Published since: 2007 Language: English
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Original Article

Open Access Original Article

A Framework for Customer Engagement Behaviour in the Financial Services Industry : A Critical Review of Evidence

Archana Nayak Kini1,  Savitha Basri2

1 Dr. TMA Pai PhD Research Scholar, Manipal Institute of Management, Manipal Academy of Higher Education, Manipal - 576104, Karnataka

2 Associate Professor, Manipal Institute of Management, Manipal Academy of Higher Education, Manipal - 576 104, Karnataka

Volume 16
Issue 6
Pages 27–43
Year 2022
Received: May 15, 2021 Accepted: April 30, 2022 Published: June 1, 2022
Abstract

In the post-COVID era, while the use of technology-enabled contactless financial services is growing, it is more critical than ever to match the rising customer expectations by aiding customers in making the best decisions and fulfilling their aspirations. The paper’s objective was to critically review published research on the antecedents of non-transactional customer engagement behaviors (CEBs), such as relationship quality, emotions, customer empowerment, and the influence of the CEBs on customer loyalty and advocacy in the financial services industry. Relevant online databases were comprehensively searched through Boolean search, reviewed critically, and synthesized narratively. The guidelines of PICO (participants, interventions, comparisons, outcomes) were followed. The final results indicated that an empowered, satisfied, highly pre-dispositional customer possessing different affective states and trust reciprocated positive engagement behaviors (CEBs). The positive CEBs build attitudinal loyalty and advocacy behaviors that create value in the long term. This review guided on managing customer tendencies to positively and emotionally engage with the product and brand in many ways, such as reviews and testimonials, to curtail switch-over behaviors, encourage customer advocacy, and loyalty behaviors.

Keywords Customer Engagement Behavior Customer Empowerment Trust Financial Services Customer Advocacy Attitudinal Loyalty
How to Cite

Archana Nayak Kini, Savitha Basri (2022). A Framework for Customer Engagement Behaviour in the Financial Services Industry : A Critical Review of Evidence. Indian Journal of Finance, 16(6), 27–43. https://doi.org/10.17010/ijf/2022/v16i6/169925

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