Customer Experience in the Banking Industry

Introduction

Customer experience refers to customer communication channels, different marketing and sales techniques, and the period from production to purchasing. The banking industry is one of the priority and important industries that affect customer experience with digital tools. In the banking industry, digital transformation is defined as a time-saving concept by reduces transaction costs with the optimal use of ICTs in all processes. The digital transformation brought about by the globalization process in the economy increases the frequency of use of alternative distribution channels by making use of digital bank branches. Alternative distribution channels are expressed as the provision of individual and corporate banking goods and services through electronic channels (Scalzi, 2000: 7). Therefore, the number of employees in operational jobs is reduced, thus providing banks with a significant cost advantage. Since this affects the socio-economic structure of the industry, it requires meeting the innovative service habits of customers in a digital environment suitable for the developing competitive environment.

There are three stages in a bank's digitalization process, respectively. First, the development of new channels and products; Second, it involves adapting the technological infrastructure, Finally, it involves far-reaching changes in the organization to achieve strategic positioning in the digital environment (Cuesta et al., 2015: 1). It is very important in terms of customer experience that banks develop compliance programs that increase competition with their innovative digital applications. Increasing the loyalty of the customers towards the bank is related to the presentation of the products to the customers at the right time and through the right communication channels. Also, improving customer satisfaction is possible with an analytical and data-oriented understanding based on the principle of transparency of customers with the bank.

The development of ICT infrastructure in the banking industry affects the rate of economic development of the industry. On the other hand, strategic opportunities are offered with innovations provided at the national and international levels for the development of ICT policy. ICT strategies offer various opportunities for customer experiences when they provide industrial sustainability (Gurǎu, 2005: 343). These various opportunities are expressed as the ability of global technology to adapt to local needs, the ability to strengthen public support for e-finance, the ability to establish the necessary level of the regulatory institutional framework, and the ability to orient small and medium-sized enterprises to e-finance (United Nations, 2002). All these opportunities shape the customer experience, which combines rationality and emotion in purchasing decisions. Based on the interactions between a bank and customers and customer experiences, it establishes the customer's conscious and subconscious organizations. For example, the higher the service speed the customer receives, the more permanent and highly motivated the loyalty between the bank and the customer (Pillai & George, 2015: 66). For a sustainable digital economy, bank managers and employees follow the developing ICTs, offering customers the opportunity to experience various portfolio opportunities. Choosing a service suitable for the target market for customer experiences is possible with the use of appropriate ICT by the end customer. Expressing their opinions about the service and product they experience through ICT creates awareness for other customers (Çakaloğlu, 2021: 35). Moreover, customer feedback on banking products and services affects the position of banks in the market against their competitors. Having a continuous customer-oriented approach, banks ensure that service marketing processes are carried out effectively and efficiently with proactive developments.