Identifying Factors Affecting Value Creation for Corporate Banking Customers

Competitive environment, diverse customer needs, different services and processes, change of approach and attention of banks to an important subset of comprehensive banking called corporate banking. It deals with corporate customers with a significant share of financial market resources. In view of this, identifying the effective factors in creating value for the corporate customers is essential and increases customer and market share. 

The population of this mixed-methods study is selected from among experts, key informants with experience in the banking industry, customers of Refah Bank of Tehran and Isfahan, as well as university professors. Initially, in the qualitative phase, with in-depth and semi-structured interviews from amongst 18 samples, information was collected and continued until the data saturation. Based on the results of the qualitative phase, the validity and reliability of the questionnaire were confirmed. To identify the factors, a questionnaire was distributed among 270 corporate customers and four factors were extracted through exploratory factor analysis. Then, to evaluate the structure of the extractive factors, confirmatory factor analysis with distribution among 265 samples, other than the previous sample, was employed. 

All fitness indicators revealed the adequacy of the model. The extracted factors of the study are as follows: ease of work, fostering positive experiences for customers, bank selection, and re-referral; duty services, equipping the bank with state-of-the-art banking knowledge and processes, exciting factors, meeting needs beyond expectations, modern services; up-to-date e-services with the approach of moving towards modern and digital banking. Banks’ focus on these factors includes a comprehensive supply of the needs of this group of customers from initial expectations and access to the highest specialized financial and credit services, and an executive framework for marketing measures to retain customers and increase customer share and the overall result. The bank's market share is achieved in the most favorable way by gaining maximum customer satisfaction.