Acta Universitatis Danubius. Œconomica, Vol 8, No 5 (2012)

Abstract

We live in a dynamic world, with everything changing more rapidly than perhaps ever before. Changes are simultaneously a cause and an effect in this world, triggered and affecting both companies (inclusing banks) and consumers. Pro-activity and reactivity are key words. Adaptation of strategies, focused consumer targeting, extended usage of new technologies, rapid growth of online environment, breakthrough of social networks and smartphones, all represent factors that converge to one direction: a digital era, when companies/banks should focus on their clients' fidelity and have an in-depth understanding of their market in order to create a real competitive advantage.