Quantifying the Impact of Digital Transformation on Customer Loyalty in Retail Banking: A Survival Analysis and Longitudinal Data Approach

Authors: Preetham Reddy Kaukuntla

DOI: https://doi.org/10.5281/zenodo.14850986

Short DOI: https://doi.org/g84qgz

Country: USA

Full-text Research PDF File:   View   |   Download

Abstract: The nature of competition in retail banking sectors has changed drastically due to the emergence of digitization within banking sectors, making it a necessary for the banks to use new techniques to survive in the field. In this paper, customer loyalty and the use of survival analysis and longitudinal data approaches to assess the impact of digital transformation initiatives is discussed. The conceptual framework combines analytics and statistical approaches to measure retention behaviors; timely engagement and customers’ experience, and data-driven decision making. The study also includes the considerations of using both predictive models and visualization tools for customer churn and loyalty. Analysis of the case reveals promising increments in customer retention rates and useful data for managerial choices.

Keywords: Digital transformation, customer loyalty, survival analysis, retail banking, longitudinal data

Paper Id: 232119

Published On: 2020-10-13

Published In: Volume 8, Issue 5, September-October 2020

Cite This: Quantifying the Impact of Digital Transformation on Customer Loyalty in Retail Banking: A Survival Analysis and Longitudinal Data Approach - Preetham Reddy Kaukuntla - IJIRMPS Volume 8, Issue 5, September-October 2020. DOI 10.5281/zenodo.14850986

Share this