Loyalty is rare - if you find it, keep it

Digitalization has come to represent a larger part of people’s everyday lives. The technology makes it possible to conduct bank errand at all hours. Therefore, the use of digital services has increased remarkable the past years. SEB, Swedbank, Nordea and Handelsbanken are the four largest banks in Sweden, which all have been affected by the increased digitalization. As the digital services becomes more common, the physical customer meetings become rarer, a situation that affects the customer satisfaction. It has become easier for the customers to switch between different banks as multiple of services is available online, something that sets high standards within the banking industry if the banks want to maintain satisfied customers, but also whilst adopting the new technology. This study aims to describe how the Swedish banks work with customer loyalty in view of the increased digitalization. The theory is based on four components which all have a major impact on customer loyalty: customer satisfaction, trust, communication and competence. Customer satisfaction and trust are considered to have a direct impact on customer loyalty, while competence and communication have an indirect impact