Dataset Information

Linking psychological needs, perceived financial well-being and loyalty: the role of commercial banks

ABSTRACT: This research examines the role of commercial banks in influencing customers’ perceived financial well-being under the basic psychological need theory and the impact of customers’ perception of financial health on their bank loyalty. We firstly conducted in-depth interviews to explore bank-related factors that could help satisfy the needs for autonomy, relatedness, and competence that a bank customer may have in their financial life. A structural equation model linking personalization of service offerings, interpersonal adaptive behaviour, communication, service quality, customer satisfaction, perceived financial well-being and customer loyalty is tested using data collected from 391 Vietnamese individual bank customers. The results indicate that the personalization of service offerings, interpersonal adaptive behaviour, and service quality could help enhance financial well-being among bank customers. This could be explained by the impacts of these factors in either satisfying customers’ psychological needs or enhancing overall customer satisfaction with banking services. Further, we also find that financial well-being not only positively affects customer loyalty but also moderates the relationship between customer satisfaction and bank loyalty. This research provides crucial strategies for commercial banks to improve financial well-being among their customers and hence, further increase customer retention and lifetime value.

Supplementary Information

The online version contains supplementary material available at 10.1057/s41264-022-00170-z.

SUBMITTER: Hoang D

PROVIDER: S-EPMC9244517 | biostudies-literature |

REPOSITORIES: biostudies-literature

ACCESS DATA

Similar Datasets

Project description:Individual differences in basal leukocyte gene expression profiles as a function of child's and parent's perception of family stress, and as a function of parent's psychological well-being. Gene expression profiling was carried out on peripheral blood mononuclear cell mRNA samples collected from 273 individuals (129 parent:child pairs + 15 parent-or-child) who were also assessed on their perceptions of family stress (both parent's and child's perception). Each dyad is labeled by a case ID, with p suffix indicating parent's gene expression profile and c suffix indicating child's gene expression profile. Variations in gene expression are analyzed as a function of both parent's perception of family stress and child's perception of family stress (using UCLA Life Stress Interview, as previously described: Hammen C (1991) Generation of stress in the course of unipolar depression. J Abnorm Psychol 100:555-561; Adrian C, Hammen C (1993) Stress Exposure and Stress Generation in Children of Depressed Mothers. Journal of Consulting and Clinical Psychology 61:354-359; Rudolph KD, Hammen C (1999) Age and gender as determinants of stress exposure, generation, and reactions in youngsters: A transactional perspective. Child Development 70:660-677). Higher values indicate greater levels of subjectively perceived family stress. Additional data are available for 107 parents who completed all 6 subscales of the Psychological Well-Being (PWB) Scale (Ryff CD (1989) Happiness is everything, or is it? Explorations on the meaning of psychological well-being. J. Pers Soc. Psychol 57: 1069-1081), resulting in scores for PWB_Total (average score across all 6 subscales) as well as scores for subscales measuring Purpose in Life (PWB_Purpose), Environmental Mastery (PWB_Environmental_Mastery), Self-Acceptance (PWB_Self_Accept), Autonomy (PWB_Autonomy), Personal Growth (PWB_Growth), Positive Relations with Others (PWB_Relationship). Higher scores indicate greater psychological well being. Also available for those individuals are measures of age (years), male gender (0/1), ethnic group (1=White, 2=Chinese, 3=Indian, 4=Other Asian, 5=Other Ethnicity), Body Mass Index (kg/m^2), heavy alcohol consumption history (0/1), smoking history (0/1), and abundance of 8 mRNA transcripts indicating the relative prevalence of major leukocyte subsets (CD3E, CD3D, CD19, CD4, CD8A, FCGR3A, NCAM1, CD14). key word: Risk prediction

Dataset Information

Linking psychological needs, perceived financial well-being and loyalty: the role of commercial banks

Supplementary Information

Similar Datasets

OmicsDI is part of the ELIXIR infrastructure

Tweets