Managing Relationships with Customers
Managers responsible for managing relationships with customers in an e-banking context often walk on an unchartered territory with little to guide them on how to manage relationships with a customer whom you may never see or speak to. This section discusses some of the ways this can be managed.
To start with, mangers need to know that it is not just the technologically sophisticated or affluent consumers who are using e-banking and there is link between the consumer’s technological sophistication and their financial sophistication. Therefore managers need to understand and cater for a wide variety of customers’ segments. Time and experience is needed for customers to adjust to new types of risks and word-of-mouth recommendations are still a powerful influence on people’s behavior towards risks associated with e-banking. Some people need extra
counseling before buying an online product due to their inability to understand complex financial products or technology. This should be available by in the form