Ethical aspects of communication with clients in phone banking

Abstract

The current state of development of technology allows communication through more and more new channels. The internet and mobile phones have become the main way to communicate. Banks and other financial institutions use these new forms of communication to maintain a constant relation with their clients. Most of these new forms not only support the activity of banks, but also facilitate use of the bank’s products and services by the client. One of the most popular forms of communication with clients is by phone. At the same time, the developments in the concept of corporate social responsibility are observed and determine ethical rules for business. The rules examined in this paper relate to consumer issues, and the paper discusses some ethical aspects, such as relations with clients, fair and transparent marketing policy, market education, reliable information about the products and services and their impact on the health and safety of the customers. The aim of this study is to examine whether phone banking is perceived by clients as an ethical method of communication. The paper analyzes the ethical aspects of phone banking and also presents empirical findings on the basis of research conducted among the clients.

Keywords

• phone banking
• financial services
• business ethics
• corporate social responsibility