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The brand loyalty plays a large role on customer’s choice of who they decide to do business with and it doesn’t stop at banks. Especially in today’s economy and banking experience in 2008 it is extremely challenging and important to be able to gain customer’s trust and business back. The business of the bank lies on people being able to trust their hard earned money in a stable enough bank they can do business with. There are many major banks that have been around for years, such as Bank of America and Chase, but after the financial crisis, some banks are no longer in business and people have taken their business to multiple banks to make sure they don’t exceed the FDIC limit and go on to the next bank, including credit unions. How does a bank accomplish to retain the customer’s business when they can just go to the next door bank though? How does brand loyalty play a critical role in banking? How does mobile banking affect loyalty in today’s ever decreasing use of a brick and mortar banking center. The overall objective of this study is to evaluate the effect of brand loyalty on the selection of who they bank with.
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