Management of market quality for correspondent banking products

In general, customers expect banks to provide the basic banking services. They also expect different levels of services to maximize the value they can derive from the banks. Hence, customers evaluate competing offers in terms of the totality of the product and service as well as the relationship that exists between themselves and the bank. To gain marketing advantage, banks have to exceed customers’ expectations rather than merely meet the bare minimum. To succeed, a bank must distinguish itself from its competitors not just in the quality of the core product but also in how it manages the “service surround”. Every interaction with a customer provides an opportunity to be “unique” and to “go beyond the call of duty”. Presents the design and management of the core correspondent banking products and the “services surround” in terms of market quality.