Can Customer Loyalty be achieved by Retail Banks?

I know an AGM of a Bank, who remembers nearly 2000 customers by name and wishes them, sometimes come out of cabin to help them. This personal touch, help retains the clients. My Director, an American went to see him and after 4 hours of discussions, returned a happy man. When enquired the AGM replied "An American is visiting an indian Bank for the first time and I do not want him to go back to US with a bad impression about indian banks"... Simple theory and practice !!!

We begin to trust others when we experience trust expressed from (those) others.

One differentiation can be services that are personalized to the clients - and uniquely tied to service available more beneficially from that particular bank. An example would be online business systems in which the bank could both offer collaborative services and support its 'borrowing' clients. Banks should want their B2B clients to have the best plans, services, sales channel partners, etc. Many have already launched these all-in-one service kiosks, and are promoting other services.

I expect to see more ancillary (other-than-lending) business support services offered through banking portals - or at a discount to those who remain loyal to that banking firm. I recently found such a tool (FundingRoadmap) that I have added to my business consulting offerings to increase their loyalty to my services (and can offer it to B2B service providers like banks, accountants, etc.).

We'll see if this loyalty - to the customer, reaps loyalty - from the customer.

I have multiple accounts, but the bank with which I am happy with is the one that gives me a total package

• A good account and a ATM software interface with features tailored for me
• a polite and knowledgeable backend CRM and/or call center who can explain the banks promos to me properly without being pushy. A leading Indian bank lost my loyalty when its back-end staff kept pestering me for their Gold Cards, personal loans, vehicle and house loans. I simply ensure now that I dont keep more than 5,500 Rs. in this account.
• I like banks who have easily available and cooperative staff who can help out with late payments, disputes on Credit Cards.  There is one out there where I pay quite a bit on multiple cards, but have retained their services the last 15 years
• A relation of mine had easy access to a housing loan where this guy came over to our place, quickly worked out the EMI's helped in resolving issues pertaining to availing of the loan, explaining how variable interest amounts work, reworking  figures and quick processing  and  paperwork with decisions and receipts exchanged within two business days. Very unlike the horror stories one gets to read in the papers or www.mouthshut.com.
• How well featured, audited and friendly are your utilities payment facililties through say a mobile phone sms interface.  A friendly and quick mechanism where a customer can quickly avail and get this moving has customer blessings.  An average householder pays 5000 - 15000 in utilities per month on electricity, phones and mobiles, gas and energy, insurance   premia
• Nature of alerts I can get or avail of when credit / debit entries happen in my bank account through RTGS or inward / outward cheque clearances.
• Banks and staff that are nice to me during the annual coverage on GR forms.
• Size matters, but with good service is great - A clear case basket where I would willingly part all my eggs.

Today, banks touch me in areas related to my children's education loans on credit basis, so I can still decide to purchase a car outright at the same time. Any bank which   can give me deals and savings in line with such requirements is a winner.

Whenever there is new the loyalty changes at times, so i agree with Mr. Dushyant here and loyalty is not that easy to get, so one has to make sure he does everything for the customer where he feels satisfied, and with so much competetion where other banks eyeing for the same customers, so it becomes more important to retain them with loyalty programs and better products and service.

To buy someones loyalti you need to wait a long period. You cant buy loyalty just by doing some here and there things. for loyalti banks need to really act as personal banker who first thinks about client benefit then his bank. But nowaday every bank is looking more towards to third party product sale thereby generating huge margins on same on the cost of client money. To buy loyalty you first need to curtail these practices and must work for client delight and then you can only earn loyalty of your client