Evaluation of the relationship between the factors of improving the competitiveness of foreign exchange services of customers in the banking industry

The banking industry is one of the most important and influential industries in today's world. This industry relies heavily on identifying the needs of customers, planning and providing solutions to meet the needs. Banks show different behaviors in a competitive or monopoly environment in the macro economy. Concentration or high monopoly power in the banking network can have profound effects on the performance and portfolio of banks. Banking activity inevitably requires the acceptance of high risks and fluctuations, which depends on the activity, nature and specific characteristics of the financial structure of banks and credit institutions. The complexity of banking and the power of big banks in the banking network and the level of supervision of the central bank on banking activities can have significant effects on the financial markets. In order to prevent the crisis and risks facing the banking network, more attention should be paid to the management of banks' monopoly power. Competition in the banking industry refers to the management and marketing activities of banks to gain market share and increase the number of customers. The nature of banking services and communication with customers has undergone changes. The highly competitive and rapidly changing environment in which banks are forced to operate; leads them to reconsider their attitude towards customer satisfaction and optimization of service quality. Competition in the market is not a new issue in the field of banking and financial and credit institutions. Banks should prepare themselves to operate in a turbulent field through competitive intelligence. In today's competitive world, without a doubt, customers are one of the most important assets of any production or service organization. The importance of the customer and his satisfaction is related to the competition at the global level. It should be noted that satisfied and happy customers are much more profitable for the organization than a financial and investment plan; they create satisfaction for employees much more than a human force and provide a market for companies much better than a marketing and sales system. Therefore, considering the importance of this area of research, the present research evaluates the relationship between the factors of improving the competitiveness of foreign exchange services of customers in the banking industry. This research is a type of applied research. Descriptive method is also used in quantitative part. Descriptive statistics are used to determine dimensions, components, and indicators, and exploratory factor analysis and Lisrel software are used to determine the current situation, determine the influencing factors, and determine the contribution of each influencing factor. The statistical population in the quantitative part includes managers and employees in the field of banking marketing and foreign exchange services. Random sampling method is used in a small part. The method and sample size in determining the appropriate degree of the proposed model is also done as a random sampling method with a number of 166 experts. Based on the results of the structural equation test and the obtained statistics, it can be found that the coefficients of all factors have a significant effect on the final model, and the effect of all factors on the model of improving the competitiveness of customer foreign exchange services in the banking industry is confirmed