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Regaining Customer Trust
出版SAGE Publications: SAGE Business Cases Originals, 2022
ISBN152979465X9781529794656
URLhttp://books.google.com.hk/books?id=WJXqzgEACAAJ&hl=&source=gbs_api
註釋Cosmos Bank, the oldest and largest cooperative bank in India, became the victim of a cyberattack through its ATM and SWIFT payment systems in 2018. The resulting financial loss was huge. The cyberattack disrupted the digital banking services of Cosmos Bank, resulting in damage to its reputation and a significant decline in trust among its customers. The entire banking industry, especially the cooperative sector, was shaken as a result of this incident. Customers also started losing faith in digital banking channels and began to question the reliability of technology. The chairman of the bank, Milind Kale, took strong decisive action and implemented strategies to rebuild customer trust and to enhance digital transactions. However, customers still had various apprehensions related to digital banking security at Cosmos Bank. Milind needed to implement plans with the goal of building customer trust, to both retain old customers and attract new ones. Would the existing customers be convinced to write off this cyberattack as a one-off incident? Time was short and he had to respond swiftly to these pressing dilemmas. Students will be asked to identify specific actions that would enable Milind to achieve this goal.