Abstract—As global markets evolve dramatically and competition among players intensifies, business organizations are looking to innovative products, new markets, and inorganic growth opportunities to drive their revenue. Nonetheless, for financial services, the greatest opportunity for sustainable revenue growth come from their ability to deliver high quality and differentiating customer experience. Therefore, the main purpose of this study is to develop Customer Experience Rating (CXR), a measurement of customer experience for the Malaysian banking sector. The statistical analysis results indicated that the CXR was highly reliable and demonstrated construct validity by achieving both convergent and discriminant validity. The customer experience rating of 7.37 implies that Malaysian customers have good experience with their banks. The outcomes of this research can be used by practitioners, managers, and regulators to gain an in-depth understanding of customer experiences, and develop effective marketing strategies that will improve the operational environment and thus contribute to improving customers’ loyalty and satisfaction and also generates positive word-of-mouth.

Index Terms—customer experience, rating, banking sector, Malaysia

Cite: Safian Bujang, Firdaus Abdullah, and Jamil Hamali, "Developing a Customer Experience Rating for the Banking Sector," Journal of Advanced Management Science, Vol. 9, No. 3, pp. 64-71, September 2021. doi: 10.18178/joams.9.3.64-71

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