Impact of using direct sales agents in retail banking at Bank Med

Abstract

The topic of this thesis is in the area of Management, Banking and Finance, and it focuses on the impact of using Direct Sales Agents (DSA) in Retail Banking at BankMed. The usage of DSA is becoming of main importance in today’s banking sector where customized and quick services are a must. The purpose of this paper is to evaluate customer satisfaction and loyalty from using Direct Selling Agents (DSA) services in retail banking, based on customers’ perception. This paper’s contribution is that there are only few studies dealing with the assessment of DSA in banking environments. As a result, the following research questions are developed: What are the reasons affecting DSA usage?. What is the impact of using DSA on Retail Banking Customers at BankMed?. This study is based mainly on primary data collected through a scientifically developed questionnaire. The questionnaire has been personally administered on a sample size of 100, chosen on a convenient basis from BankMed clients regardless whether they are served by DSA members or not. Using SPSS, this study finds that customers who benefited from DSA services are more satisfied, advocating the importance of DSA in Retail Banking, especially with the increase in market competition, and the increase of customer demand for customized services. Furthermore, satisfied clients are found to be more loyal, and since loyalty leads to profitability, banks can improve their profitability by applying DSA.