Mindfulness and banking customers’ quality of life

Abstract

Purpose Quality of life is a concern of banking customers, but it has received little attention in studies conducted within the banking context. This study aims to investigate the influence of mindfulness on customers’ quality of life and the mediating role of service value, satisfaction and loyalty to the company in this relationship. Design/methodology/approach Three hundred banking customers participated in the survey. In this study, partial least square structural equation modeling (PLS-SEM) was used to test the relationship between the variables. Then, complementary methods were used to assess the robustness of the PLS-SEM results. Findings In this study, it was found that mindfulness directly influences service value, satisfaction and quality of life. Service value was also found to directly influence satisfaction. Satisfaction directly influences loyalty to the company. In addition, loyalty to the company, but not satisfaction, directly influences quality of life. However, this study did not find any evidence that service value, satisfaction and loyalty to the company mediate the influence of mindfulness on quality of life. Practical implications Banking marketing managers need to ensure that their customers have an impressive moment-to-moment experience with the services provided to support improving their quality of life. Originality/value The findings help to advance the understanding of how banks can improve their customers’ quality of life while maintaining the well-being of other stakeholders.