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Vol. 3 No. 4, 2022

1 Ivan Franko National University of Lviv, Ukraine (corresponding author)
E-mail: rudevska@ukr.net
ORCID: https://orcid.org/0000-0001-6697-9096
ResearcherID: K-8854-2015

This is an Open Access article, distributed under the terms 
of the Creative Commons Attribution CC BY 4.0

DOI: https://doi.org/10.30525/2661-5150/2022-4-5

CUSTOMER ORIENTATION OF THE BANK  
AS THE BASIS OF THE CUSTOMER-ORIENTED  

BUSINESS MODEL OF THE BANK

Viktoriia Rudevska1

Abstract. The main purpose of this study is to deepen the theoretical foundations of defining the content 
of the concept of "customer focus" and assessing the level of customer focus, as well as to provide a practical  
perspective on the customer-oriented activities of the bank. The study covers a set of issues related to the  
allocation of customer focus as an independent object of management in the bank, characterization of the 
methodology for assessing the level of customer focus of the banking institution and determining the directions 
of improving the customer focus of the bank as an important element of the banking business, the main effect  
of which should be an increase in profits in the process of the bank. The methodology of the study, which 
reveals the topic of the article, is: analysis and synthesis of the theoretical basis for the content of the concept of  
"customer focus", its generalization and decomposition of approaches to defining the content of customer focus; 
the method of synthesis is used in the process of defining the concept. Also, in the process of research and 
implementation of its goals, general scientific and analytical methods of assessing the level of customer focus 
were used. Results. The study of the content of customer orientation based on the decomposition of different 
approaches to its definition allowed to formulate the author's definition of customer orientation in the bank as a 
tool of partnership between the bank and consumers to meet the needs of the latter, as well as to prevent their 
expectations, aimed at obtaining a constant long-term income by the bank due to the key competencies of its staff  
and the transition to a customer-oriented model of banking institution. The author's definition differs from the 
existing ones in that it considers customer orientation at two levels of interaction with customers: at the level of the  
bank as an organizational structure and at the level of personnel who contact with customers directly and  
indirectly, and also focuses on the bank's orientation to the desires and needs of the customer and the ability to 
anticipate them. Without equating the level of customer satisfaction with the level of customer focus, it can be  
said that there is a logical connection between these concepts and conclude that the measurement of customer  
NPS can be used as an indicator of customer focus. Practical implications. In the world banking practice, the 
introduction of NPS calculation is widely used and influences the decision-making process regarding the bank's 
business model, in which customer focus plays a key role. The ways of increasing the level of customer orientation 
of the staff and implementing a customer-oriented business model of the bank, highlighted by the author,  
have a wide prospect of further implementation in the activities of financial institutions.

Key words: customer focus, Net Promoter Score, bank, customer-oriented business model of the bank.

JEL Classification: М21, М31, M14

1. Introduction
In the current economic environment, the 

consumer of banking services has the opportunity 
to choose from a wide range of banking insti-
tutions and services of financial partners. This 
creates a competitive environment in which  
banks fight for their share in the financial services 
market with the help of various competitive 

advantages, taking into account consumer  
demand. In order to turn a potential consumer 
into a real and regular customer of the bank, not 
to give him a reason to move to competitors, it is 
necessary to introduce the concept of customer 
individualization into the bank's activities, that 
is, to offer him services that meet his needs,  
provide appropriate individual service and 



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maintenance, etc. The more the bank's offer 
meets the expectations, preferences and desires 
of consumers, the more loyal they are to the 
financial institution, ready to use more financial 
products and services, which brings profit to 
the bank. Strengthening customer relations 
becomes even more important in Ukraine in the  
conditions of uncertainty caused by military 
actions, which is due to the need to maintain  
very close contact with customers to ensure free 
access to information about changes occurring  
at the level of the banking sector and individual 
bank, about the measures taken by the bank,  
about the possibilities of remote banking, etc. 

The COVID-19 pandemic has led to an  
incredible transformation of the banking  
business, as banks have moved much of their 
operations and customer interactions into the 
digital space and have been forced to provide 
customers with access to their services through 
remote channels. To survive the crisis, banks  
had to quickly adapt to a new environment 
where digitalization creates many solutions for 
complex daily operations. Thus, banks have 
developed and improved their remote banking 
systems, offering consumers more convenience 
and security. However, replacing the human 
factor with a digital channel has both positive  
and negative consequences. Such changes have 
forced customers to separate from the banking 
institution and distance themselves. With the 
increase in digital solutions for consumers, the 
ways in which customers communicate with  
their usual banking staff have become more 
complicated. Traditional customer service  
channels are being curtailed, and offline service 
timeframes are being reduced. Old customers 
and large corporate business are especially 
sensitive to such changes. This situation should 
force researchers and bank management to 
look differently at the content and role of 
customer focus and personalization of customer  
interaction processes. 

2. Critical analysis and decomposition  
of approaches to the definition  
of "customer focus"

Consider the theoretical foundations of the 
definition of "customer focus". Customer focus 
is a comprehensive definition. The management 
of the company, which strives to ensure the work 
of the company on the basis of customer focus, 

must believe that it will be possible to achieve  
an individual approach to doing business and 
provide customers with high quality service.  
This is a focus on the consumer in order to  
identify and further satisfy his needs. At the  
same time, high customer orientation implies  
the desire to exceed customer expectations and 
impress them. If to consider the concept in the 
framework of practical application in business, 
customer focus consists in special actions designed  
to "make happy " the consumer and inspire trust.

Romanchukevych M. (2018) defines customer 
focus as the company 's ability to generate  
additional customer flow, as well as additional  
profit, providing a deep understanding and 
satisfaction of the basic needs of customers. 
He considers customer orientation as 
a tool for building customer loyalty, competitive  
advantages aimed at obtaining sustainable profits 
in the long term.

In the author's opinion, it is expedient to clearly 
distinguish these definitions, because from the 
author's point of view "customer orientation  
of the bank" is a much broader concept than 
"customer orientation of the bank staff ". 

According to the author's vision, the bank's 
customer focus includes tools at the level of 
internal corporate culture and embedding of  
these principles at the level of development  
strategy and organization of business processes.

The researcher Larysa Mistrian (2021) in her 
work considers the basics of customer-oriented 
activities of the bank, which will ensure effective 
management of customer expectations, both 
corporate and retail, knowledge of the client and 
his/her needs, his/her preferences in accordance 
with risk aversion, his/her behavior regarding 
investments and savings, customization of  
products and services in accordance with the life 
cycle of the client (legal entity or individual). 
Another element of the bank's customer-oriented 
work the author calls increasing confidence in the 
bank by ensuring a high degree of transparency, 
financial education, taking into account the 
interests of each client at any time and at any 
time. Bank customers want more than just 
to withdraw money or earn interest on their  
savings, they want a more personalized relation-
ship with their financial institution, a relation- 
ship that gives them confidence and a sense of 
control over that relationship. Differentiation 
happens at the level of trust and satisfaction. 



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In this study, the author agrees with the 
researcher's position on the need to strengthen 
the relationship between the client and the bank 
through the quality and frequency of interaction. 
It is important to focus on customer retention, 
understanding the factors that determine their 
satisfaction, rather than on repeating the act of 
consumption. Customer satisfaction throughout 
the life cycle of the established relationship is 
a prerequisite for their retention and further  
loyalty.

The author also notes that banks are now  
adopting and demonstrating a clear customer  
focus, which is justified by the following:
– the needs of consumers of financial and  
banking services are constantly growing, and  
banks need to adapt their products and services  
to meet them;
– competition in the banking market is fierce and 
competitors are introducing improvements to 
catch up and stay ahead of innovative financial 
institutions;
– customers quickly get used to banks' offers and 
have higher and higher expectations. Thus, to 
maintain and strengthen their market positions, 
banks focus on understanding and meeting the 
needs and expectations of current and potential 
customers. 

Attracting new customers requires the bank 
to monitor the business environment in order 
to promptly respond to changes in the needs of 
existing and potential consumers of financial 
and banking services so that they become loyal 
customers of the institution (Mistrean, 2021). 
On the other hand, Svitlana Yegorycheva 
(2016) proposes to combine two approaches 
to the definition of customer focus. The first is a  
business characteristic that reflects the company 's 
desire and ability to build mutually beneficial 
relationships with its customers. The second is 
related to the perception of customer focus as 
a fundamentally different aspect of marketing, 
compared to the classic marketing mix, when  
the focus is not on the product sold, but on the 
customer with his needs, interests, expectations. 
Both of these approaches are complementary,  
since in the first case it is the result of the 
company 's work, and in the second – the means 
of achieving it (Yehorycheva, 2016). This point  
of view is shared by the scientist Mychailo 
Oklander (2019), arguing that the specifics  
of the customer orientation of banking institu-

tions is due to the parameters of services, and  
the reaction of customers to the motivating  
factors is an indicator of such customer orientation 
and is divided into: cognitive, emotional,  
behavioral. He considers the customer orientation  
of the bank through the prism of marketing. 

At the current stage of bank development, 
a single platform for interaction with customers 
is extremely necessary. Banks have separated 
from customers through remote services and 
contact centers. The mechanism of appeal in 
the usual way is extremely complicated and 
completely non-transparent. Banks are extremely 
bureaucratized and closed in communication  
with their customers. This significantly worsens 
the reputation of the banking system as a whole  
and each individual financial institution. Therefore, 
the peculiarity of innovative banking management 
is its organizational orientation. The researcher 
Red'ka S. (2013) identifies three vectors of 
organizational orientation: territory-oriented, 
product-oriented and customer-oriented. 

According to the author, the focus of modern 
banking management should be a combination 
of scenario and customer-oriented approaches.  
Due to the rapid development of remote  
channels for selling banking services, the  
territorial location has lost its relevance and is  
no longer decisive when choosing a partner  
bank. The product-oriented approach partly 
reflects the needs of today due to the homogeneity 
of banking services and unlimited supply on  
the market. Therefore, from the author's point 
of view, the bank management in the process of 
choosing the vector of organizational orientation 
should be more focused on the scenario approach, 
when the buyer chooses different partner banks 
under different scenarios and circumstances.  
Thus, for transactions, customers choose a  
banking institution with a lower fee for trans-
ferring funds, for placing temporarily free funds 
on a deposit account – a bank with the best 
rates, for making online payments and using  
pos-terminals – a bank with the best functionality 
of the application, etc. In the chosen scenario,  
the client prefers a customer-oriented bank –  
a bank that focuses on customer satisfaction and 
constantly improves the service process. In order 
to improve the customer-oriented model, the  
bank should use information on the level of  
customer loyalty NPS (net promoter score), 
constantly improve the level of customer 



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orientation of the staff, conduct research on 
customer expectations and support the innovative 
development of its products.

The etymology of this concept indicates  
customer orientation from the English "customer-
oriented". Table 1 provides a decomposition of 
the most well-known definitions of this concept 
according to the emphasis laid in the content:  
on corporate culture and principles of behavior  
at the staff level or at the level of business  
processes and value creation. At the same time, 
the economic concept of "value" means customer 
satisfaction as a result of receiving a product  
or service created by the bank. It is the value  
created by the bank for customers that ensures 
the process of consumption of banking  
products and services by customers and allows 
the bank to perform the emission function by 
redistributing monetary resources. 

During the historical development of economic 
science, the theoretical development of the  

problem of value was realized in the cost  
theory of value by A. Smith (in particular,  
it was deeply developed in the works of  
K. Marx); in the theory of factors of  
production by J-B. For example, in the  
marginal theory of representatives of margi-
nalism. However, in the early twentieth century, 
the prominent economist M. Tugan-Baranovsky 
combined these theories by separating the  
concepts of product cost and value. According  
to him, the cost is the cost of the organization, 
and the value is the customer's satisfaction 
(Goncharuck, 2013). 

Most definitions focus primarily on customer 
satisfaction, which should potentially lead to  
repeat sales. However, given the fact that the 
primary purpose of a business is to make a  
profit, some authors aim to generate sustainable 
profits in the long term through an organiza- 
tion's ability to deeply understand and effectively 
meet customer needs.

Table 1
Decomposition of the definition of "customer focus" by the chosen emphasis

At the level of values and business processes At the level of corporate culture and personnel

Loshkov, V. 
(2019)

The ability of the organization to 
generate additional profit through 
a deep understanding and effective 
satisfaction of customer needs

Mann, I.  
(2013)

Initiation of positive emotions in 
potential and existing customers, 
which leads to the choice of goods and 
services of the company among many 
competitors, to repeated purchases and 
attracting new customers through the 
recommendations of existing customers

Narver, J.  
and Slater, S. 

(1990) 

Understanding target customers, 
meeting their needs, full understanding 
of the value chain and its development 
in the future, understanding the needs 
of not only own customers, but also all 
participants of the distribution channel

Busarkina, V.  
(2007) 

An instrument of partnership between 
the organization and the client to 
meet its needs, aimed at obtaining 
sustainable profit in the long term, using 
the relevant core competencies of the 
organization

Rusanova, A. 
(2018)

A process aimed at increasing the life 
cycle of the company 's interaction with 
the client

Deshpande, R ., 
Farley, J.,  

аnd Webster, F. 
(1993) 

Part of the corporate culture, a set 
of beliefs that puts the interests of 
the client in the first place before the 
interests of managers, shareholders, 
employees. Focus not only on 
understanding the needs of existing 
and potential customers, but also on 
understanding their values and beliefs

Kokran, K.  
(2009) 

One of the core values of a business 
that strives for survival and prosperity

Mistrean, L. 
(2021)

Measures that will ensure effective 
management of customer expectations, 
both corporate and retail

Source: сompiled by the author



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3. Determination of the bank's customer 
orientation taking into account the level  
of interaction with customers

Establishing long-term positive relationships 
with customers and retaining existing customers 
provides stable income for the bank, which is the 
most important factor in ensuring competitive 
advantages. Additional profit arises from the sale 
of additional goods and services to customers. 
The consequences of the transition to customer 
orientation are high appreciation by the client of 
the bank's policies and tactics and the formation  
of a positive, customer-oriented image.

On this basis, it is proposed to consider customer 
focus in the bank as a tool of partnership between 
the bank and target customers to meet the needs of 
the latter and anticipate their expectations, which 
is aimed at obtaining a constant income by the bank 
due to the key competencies of the banking institution 
and its employees. In fact, this means focusing 
on the desires and needs of the client, the ability  
to anticipate them and differs from the existing  
ones in that it is considered at two levels of 
interaction with customers: at the level of 
organization of business processes in the bank, 
as an organizational structure and at the level  

of personnel who directly and indirectly contact 
with customers (Figure 1).

In the modern scientific environment there  
is no unified approach to the definition of 
the concept of "customer focus" and a clear  
separation of the content of the concept of 
"customer focus of the bank". Most often in the 
scientific literature it is possible to find narrowing 
of the concept of customer orientation to the 
customer orientation of the staff.

Customer orientation should also be an  
important goal not only for the bank's manage-
ment, but also for each employee. Research  
carried out by Heskett et al (1997, 2000) shows 
that satisfied, loyal and committed employees  
are more enthusiastic about the institution's 
customers, which ultimately leads to more  
satisfied, loyal and committed customers. These 
relationships are part of the profit value chain. 
Roughly speaking: the more enthusiastic the 
employees, the more loyal the customer and the 
higher the profit (Barends, 2019). 

Today, customers are becoming more 
demanding, critical and sensitive to service. They 
put forward high demands not only to the quality 
of facilities, but also to the quality of service. 

Customer orientation of the bank
at the level of business processes of the bank

at the level of bank staff

customer

IT solutions 
and remote
maintenance

inclusive
product line of 
the bank

management 
of customer orientation 
as an object 
of management

focus on empathy 
of front office staff

trainings 
and seminars 
on customer 
orientation for staff

measuring the level 
of customer orientation 
of the staff

Customer-centric business model of the bank

Figure 1. Two-level structure of the bank's customer orientation

Source: author's own development



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Demanding customers should stimulate the  
desire of employees to comply with the rules 
of corporate culture; development of skills to  
mobilize their internal resources, personal 
development in the workplace, reducing conflict 
and the number of stressful situations for the 
employee. Therefore, it is very important to find  
and implement ways to increase the level of 
customer focus of staff.

Increasing customer loyalty to the bank 
requires strengthening the customer focus of all 
departments of the financial institution, which  
will ensure the most effective identification of 
customer needs and their satisfaction. Ways to 
increase the level of customer orientation of the 
bank's staff can be presented as follows:
– Directing business processes in such a way that 
the bank can provide an individual approach to 
each individual client, as well as provide high 
quality service;
– to improve the bank's services in such a way  
that customers have the impression that the  
quality of the banking product is improving 
at the same time. Implementation of service  
culture standards and regulation of work of all  
bank employees help to move in this direction;
– training of employees in basic technologies of 
customer service and sale of banking products.  
The bank's profit depends on the constant impro-
vement of the professional level of its employees;
– introduction into the corporate culture of the 
understanding of "internal client" in the bank, 
i.e., different departments should help each other,  
and not try to stand out among all the others, to 
work in a coordinated manner for the overall result;

It is worth noting a number of advantages 
provided by the customer orientation of the  
bank's staff:
– The most satisfied customer stays with the  
bank and recommends it to his partners and 
friends, which is a powerful channel for the  
banking business to attract new customers.
– Satisfied with the customer experience, the 
consumer will subsequently buy more often and 
order additional services.
– The most satisfied customer is willing to pay  
more over time, but one should be careful here  
as there are reasonable limits.
– Loyal customers begin to share useful infor-
mation about their expectations, provide  
assistance in improving the offered product or 
service, which contributes to the optimization of 

business processes. Thus, the value of the offered 
product increases.

4. Measuring the level of customer focus  
as an independent object of management

For banks, as for most organizations, customers 
are crucial to the existence of the business. In 
particular, in the current market environment 
characterized by intense competition and price 
erosion, the emphasis must be on attracting and 
retaining loyal customers. Therefore, understan-
ding customer expectations becomes critical 
for every organization, and especially for banks,  
given the service nature of the banking business. 

Measuring the level of customer focus is 
a separate area of scientific research, which does 
not yet have sufficient depth of development and 
unity of opinion. The most common among the 
indicators of measuring the customer orientation 
of the bank is the NPS (net promoter score). 
American writer Fred Reichheld (2011) created 
the concept of NPS, which he presented in his  
book The Ultimate Question. Fred has been 
researching how to measure customer satis- 
faction and customer retention and see how it  
relates to how successful and profitable a company 
is and can be. Reichheld and Markey (2011) 
found that one question (Net Promoter Score 
question: "On a scale of 0 to 10, how likely are 
you to recommend this company to a friend or 
colleague?") was the ultimate test of customer 
loyalty. Customers who scored 6 and below are 
called haters, those who scored 7 and 8 are called 
passive, and those who scored 9 and 10 are called 
promoters.

If the customer falls into the high (promoter) 
range of scores, then he gets real value for the 
company, because he will recommend it.

Customers at the bottom of the scale, the so-
called "haters", can leave the company at any time 
or speak badly of it. In addition, such customers 
are much more expensive to serve and are  
unlikely to buy other products of the company. 
Passive customers should be listened to carefully 
and their problems should be solved in order to 
transfer them to the group of "promoters". 

The method of calculating the level of customer 
loyalty by the formula:

NPS = % promoters – % haters               (1)
In the banking industry, Net Promoter Score 

(NPS) has never received much attention.  



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However, as customers become more tech-
savvy and expect a more personalized banking  
experience, financial institutions can no longer 
afford to ignore this metric. This is a perfor-
mance metric that is widely used (by thousands 
of companies, including two-thirds of the  
Fortune 1000) to determine how likely a customer 
is to recommend the company to a friend or 
colleague. Without equating the level of customer 
satisfaction with the level of customer orientation 
of the company, it can be argued that there is 
a logical connection between these concepts.  
And the level of customer satisfaction can be  
used as an indicator of customer focus of the 
company. Foreign banks have long introduced 
the practice of calculating NPS in their activities. 
Among them are such leading financial insti-
tutions as Commerce Bank, JPMorgan Chase&Co, 
Macquarie Bank, TD Bank, Banco Galicia, 
Citigroup, Lloyds, Swedbank, Bank of Melbourne,  
YSBC, ING, Metro Bank. A number of repre-
sented banks indicate a wide geography of  
NPS penetration in the processes of customer 
experience assessment in the world. 

Consider examples of the use of NPS by banks 
and financial services companies. According to 
a study by Bain & Company (2022), including 
American Express, USAA, ABN AMRO and 
HSBC. This analysis will allow to compare the  
NPS tactics and best practices. 

USAA received a 75 NPS score for banking 
and 76 for insurance – one of the highest in the 
industry. The ease of doing business with the 
company, coupled with a sense of fair treatment 
of customers, helped USAA to receive an  
impressive NPS score of 75. 

The bank has been carefully investing in 
initiatives that reduce customer effort and  
promote active promoters. One such initiative  
was enabling customers to check their bank  
balance via text messages. The brand now also  
offers technology for customers involved in car 
accidents, allowing them to instantly add photos 
and voice recordings to their insurance claims, 
which can be initiated remotely. These invest- 
ments in customer experience have helped  
USAA stay at the top of the financial services  
NPS rankings and become the epitome of  
customer centricity. 

American Express is one of the leading banks 
in the United States, leading the NPS rating in 
financial services with an NPS of 32. Positive 

direct interaction and customer service, as well  
as a generous financial rewards program, have 
helped American Express create an environment 
where cardholders feel valued and cared for.  
In turn, this has resulted in the prevention of 
account switching in order to take advantage of 
introductory offers. 

A great example is the recent initiatives of the  
Royal Bank of Scotland (RBS). To better 
understand, analyze and respond to customer 
expectations, RBS has appointed dedicated  
teams of "customer experience managers" who  
are empowered to analyze the entire customer 
journey from start to finish and order specific 
functional changes at any problematic touch- 
point. Thanks to this investment in personali-
sation, RBS has achieved an NPS score of 50. 

The role and importance of customer focus 
in global banking is evidenced by the fact that 
in 2021, 75% of banks invested in a customer- 
centric business model. And a survey of the 
financial sector showed that 47% of companies  
have set themselves real goals to improve the 
customer experience (something that is key 
to actually improving interest rates according  
to the study).

5. Conclusions
The latest technologies and innovations have 

become crucial for customer loyalty in the face of 
social and economic upheavals due to pandemics 
and military actions that limit access to goods 
and services in a traditional way. Customers 
change partner banks in favor of more innovative 
ones and the issue of maintaining and expanding 
the customer base as a source of income for 
a banking institution is a requirement of the  
time. Therefore, each bank in the competition  
must take into account the expectations of 
customers and constantly collect information 
about the level of their satisfaction with their 
financial partner. 

The study of the concept of "customer focus" 
provided an opportunity to formulate the  
author's view on customer focus and define 
the content of customer focus in the bank. The  
author's definition differs from the existing  
ones in that it considers customer orientation at 
two levels of interaction with customers: at the 
level of the bank as an organizational structure 
and at the level of personnel who contact  
with customers directly and indirectly, and also 



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focuses on the bank's orientation to the desires  
and needs of the customer and the ability to 
anticipate them. The issue of assessing the 
level of customer focus remains open for many 
practitioners and researchers. Without equating 
the level of customer satisfaction with the level 
of customer focus, it can be argued that there 
is a logical connection between these concepts 
and conclude that the measurement of customer  
NPS can be used as an indicator of customer  
focus. In the world banking practice, the 

introduction of NPS calculation is widely used  
and influences the decision-making process 
regarding the bank's business model, in which 
customer focus plays a key role. Solving the task 
of optimizing processes, banks should improve  
the customer-oriented approach in their activities 
and strive to increase the level of customer  
focus. The formation of a comprehensive  
system for managing the bank's interaction 
with customers is still far from being  
completed. 

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Received on: 4th of November, 2022
Accepted on: 12th of December, 2022

Published on: 30th of December, 2022