These findings hold especially for financial services providers, where reducing the defection rate by 5% can boost profits by up to 80% (Reichheld & Sasser, 1990).
Although this linkage is quite clear, few academic efforts have been made to determine the criteria used by customers to make a judgment about web portal quality.
This is required by the high acquisition costs in online banking that lie 20–40 % above those of traditional offline business (Reichheld & Schefter, 2000; Reibstein, 2002).
A positive customer value in the internet can only be achieved by establishing long-term customer relationships.
Wiley Online Library requires cookies for authentication and use of other site features; therefore, cookies must be enabled to browse the site.This is the case even though, the quality finally determines the decision whether to use and remain loyal to a portal (Reibstein, 2002; Cox & Dale, 2001).In addition, there is hardly a clear definition, which services and characteristics turn a simple website into a financial portal.The availability of relevant, accurate and quickly 4 accessible information on each service line is frequently mentioned as the most important function of web sites (Liu & Arnett, 2000; Wolfinbarger & Gilly, 2001).The context function includes, for example, search engines and directories that structure the portal’s context of financial services and information and provides the possibility to find an optimal offer immediately.