Customer choice criteria for selecting a retail bank: A systematic literature review

Pages: 1618-1625
Menka Pathria (I. K. Gujral Punjab Technical University, Kapurthala, Punjab)
Ramandeep Saini (Chandigarh Group of Colleges, Landran, Mohali, Punjab)

The purpose of the study is to decipher the Choice Criteria used by retail Bank customers while selecting a Bank arrived at through systematic literature review This study discovers, analyses and executes a systematic literature review by closely examining 16 articles, between the period 2000-2018, from leading journals studying the choice criteria used by the retail customers while selecting a Bank. The systematic literature review on one side examines various research tools used, theories adopted by various authors and the concepts studied for the selection of retail bank major findings of the previous studies and also provides research gaps for these studies and on the other side. It establishes that although research has been done in past for selection criteria for banks, however most of the studies are either done for commercial customers or Islamic bank’s customers or students as subjects, which may not be the true representative of a retail consumer diverse consumer set. Further in order to validate the completeness of the variable list for the context under study, the systematic literature review discovers the absence of a repertoire of factors for the context and thus expert study gains relevance to arrive at a repertoire of factors affecting the context. This is probably the first study that amalgamates systematic literature review and expert survey to arrive at the repertoire of Choice Factors affecting a Retail Bank Customer while choosing a Bank thereby postulating a conceptual model considering both perceived switching cost and perceived trust as a moderators for intention to choose a retail bank.