Influence of Rıvalry, Repute & Rate On Swıtchıng Intentıon: Empırıcal Evıdence from Retaıl Bankıng ın Srı Lanka

Abstract

The financial sector is expected to witness expanded intensity, dynamism, enhancement, combination just as the capacity to offer world class presidencies. Today banking sector in Sri Lanka consist of 24 licensed commercial banks, 9 licensed specialized banks and 48 financial institutes on the ground for fighting to find the customers, every one of them offering skillful services with consumer loyalty as the chief thought process. Nonetheless, banks despite face issues with clients changing starting with one bank then onto the next looking for either better offers, minimal effort, competitive rates, ease of access, worldwide services and numerous other diverse constituents. Since most of the researches have explored identifying the determinants of switching intention this study focused on examining the influencing power of reputation, rivalry and rate on switching intention of retail banking customers. 480 usable responses were received from retail banking customers and taken for analysis. The outcomes of this research help bank with their vital choices, investigating their modesty edge by drawing in new customers, reinforcing client information base and holding client certainty through enhanced reputation, competitive pricing, advertisement and proscribing strategies on switching intentions.