Customer Centricity and Product Innovation in Banking

Stefan Vachkov ()
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Stefan Vachkov: University of Economics - Varna, Varna, Bulgaria

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2022, vol. 11, issue 2, 3-12

Abstract: The digital transformation of "classic" banks is impossible without a reassessment of their previous strategic priorities. To fit into the "new normal", they must adjust their business and operating models to dynamically changing customer needs and experiences - the most authoritative critical parameter for "manufacturing" and offering products/services. At the same time, however, product innovation in banking faces a number of obstacles.

Keywords: banks; product innovation; customer centricity; digitalization; customer experiences (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vra:journl:v:11:y:2022:i:2:p:3-12

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