Banking Products and Services as Significant Determinants of Bank Competitiveness in the Financial Market: A Review Approach

Tomasz Siudek, Aldona Zawojska

Abstract


Theoretical background: Competitiveness represents a multidimensional construct reflecting an entity’s capacity to secure a superior market position. This phenomenon operates across global, national, regional, sectoral, organizational, product, and service dimensions. Within the banking sector, competitiveness is paramount since banks, as financial intermediaries, inherently depend on the scope, quality, accessibility, innovation, and perceived value of their products and services. Furthermore, rapid digitalization and artificial intelligence continuously reshape their portfolios, establishing personalization, efficiency, and enhanced customer experience as critical drivers of competitive advantage. This paper examines banking products and services as primary determinants of bank competitiveness by analyzing their impact on customer-centric outcomes, including satisfaction, trust, and loyalty. These outcomes serve as the foundational mechanism linking banking activities to sustained market performance, as positive customer experiences fortify retention, relationship depth, and institutional reputation. Ultimately, this study conceptualizes the essence of banking products and services, identifying the specific attributes that most robustly augment customer outcomes and, consequently, elevate a bank’s competitive standing.

Purpose of the article: This article aims to clarify the significance, nature, and key characteristics of banking products and services, highlight their role in shaping customer outcomes and bank competitiveness, and develop a theoretical model showing how e-banking products and services relate to customer satisfaction, trust, and loyalty.

Research methods: The paper adopts a theoretical and descriptive approach, drawing on a narrative literature review and critical, comparative, and synthetic analyses. Relevant literature was sourced from Web of Science, Google Scholar, ScienceDirect, BazEkon, and other databases using Boolean keyword searches.

Main findings: Banking products and services strengthen bank competitiveness by enhancing customer value, satisfaction, trust, and loyalty. Key factors include service quality, reliability, convenience, security, personalization, and digital usability. The findings further indicate that digitalization and AI reshape competitive dynamics by transforming how banking services are designed, delivered, and experienced by customers.


Keywords


banking products; financial services; competitiveness; banks; literature review; conceptual model

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References


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DOI: http://dx.doi.org/10.17951/h.2026.60.2.137-172
Date of publication: 2026-08-12 23:46:12
Date of submission: 2024-08-26 21:00:09


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