The influence of trade finance solutions on customer loyalty

Abstract

In this study, the effects of trade finance options offered by Southeast Bank PLC on client loyalty are examined, with an emphasis on client satisfaction and the use of technology in decision-making. The study, which is based on a survey of 117 clients, highlights the usage of digital solutions, cost-effectiveness, and service speed as important elements impacting loyalty. The most often used services were import and export letters of credit (LCs), with most clients reporting satisfaction. To improve the overall consumer experience, it was recognized that certain areas, such as pricing and customer service, required to be improved. Most customers agreed that technological changes or automation and digital platforms were good but some of them faced some difficulties which meant that there is room for improvement to make the system more efficient. Therefore, the key findings of the report suggest that Southeast Bank ought to establish greater customer loyalty through the advancement of service processes, reinforcement of customer support, and optimization of administrative solutions. Some of the specific suggestions made include efficiency, mobile and online platform and the periodic feedback. These enhancements are necessary for the bank to remain relevant and competitive in the trade finance market and to align with the customers’ needs and increase their lifetime value. To better integrate services with customer preferences, recommendations include reducing procedures, increasing digital and mobile accessibility, and implementing ongoing feedback channels. By taking these steps, the bank ensures its ability to always provide its wide range of clients with trustworthy and efficient trade finance solutions.