Abstract:

Quality Management in Banking, as well as other financial industries, is increasingly being recognized for its strategic importance in meeting today's intense competitive pressures for high quality of service, greater productivity, at reduced costs. Quality must be based on the customer experience. As such, Quality in Banking means providing accurate and timely service as perceived by the customer-service which meets the needs of the customer. Formal, integrated Quality Management Systems, which follow the universal principles of Quality Management pioneered in the manufacturing industries, have been successfully adapted to and applied in a wide range of service industries, including Banking, starting in the U.S. in the 1970's followed at a distance by European applications.