Personalisation and Customisation - A Strategic Leverage to Sustain eTrading Market Share

Electronic banking (e-banking) has emerged the most popular way for retail banks to provide financial services to private households. Stock trading transformed into e-trading as retail banks created comprehensive web portals for customers to perform financial transactions. Low search costs have sparked fierce price competition. For companies to sustain profitability and retain customers, service differentiation is vital. Personalisation and Customisation (P&C) techniques allow banks to provide this individualised and differentiated service and foster a stronger customer relationship. Various P&C approaches have been examined through case studies of top e-trading companies. A three-layer architecture can be used to which enables P&C to provide an individual service without undermining core business functions.