INNOVATIVE STRATEGIES OF ELECTRONIC COMMUNICATION IN THE GREEK BANKING SECTOR

In an attempt to remain effective, flexible and competitive in today’s rapidly developing technological environment, banks increasingly recognize the benefits of the Internet to meet the needs of the modern consumer. Bank management aim and develop their costumer base by implementing strategies that achieves and equilibrium between physical and virtual present. While online banking (e-banking, mobile banking, ATM’s) has increased immensely in Greece there is insufficient evidence concerning its acceptance by consumers. The purpose of the present study is to examine the impact of the implementation of innovative electronic communication strategies to attract new customers and to satisfy the existing ones. Another objective of this paper is to investigate the impact on quality of online banking services on customer’s e-loyalty and overall satisfaction. The research sample is consisted of 153 customers of various banks in the region of Central and Eastern Macedonia in Greece. The formulated questionnaire was administered personally and through the Internet between February and April of 2011. The results of this study indicate that there is a statistically significant relationship between implementation of innovative technological applications, trust and the dedication to online banking. On the other hand, the research provides insufficient evidence about the relationship among the quality of service, the overall satisfaction and the adoption of online banking.