The bank switching behaviour of Singapore's graduates

This study developed a model of bank switching which contained six switching incidents. The study also investigated if certain demographic characteristics of Singapore's graduates could be used to distinguish those who have switched banks from their counterparts. The results showed that the types of incident that most often influenced bank switching were ‘inconvenience’, followed by ‘service failures’ and ‘pricing‘. About one-third of those who had switched did so because of a single incident. Banks, if they are to reduce switching by graduate customers, need to ensure that they are convenient, and that they minimise their service failures by providing an appropriate range of services which are delivered in a time-efficient manner and remain price competitive. The demographic characteristics that were subject to testing, namely gender, age, salary and racial group, showed no significant differences.