Banking Institutions depend, almost entirely, on the economic well-being and trust of the community they serve, and are embedded in a highly competitive market, making the inescapable need to know what customers value most. Therefore, banking institutions need to meet these requirements and expectations, by offering sophistication, quantity and quality in their services. More precisely, they must guarantee not only the integrity of the processes but also the equity in the customers’ management in order to increase their satisfaction. Huang and Su (2010) study the relationships of service fairness, quality, value, satisfaction and loyalty and the role of equity on perceived satisfaction (Su et al, 2015) in the tourism field. This goes in line with the FAIRSERV model proposed by Carr (2007). However, applications within the financial sector are rarer (Chen et al, 2012). Trust is an additional dimensional that have been less studied within this framework, despite its crucial role in this specific industry (Chen et al, 2012). This study aims to understand whether the perceptions of Quality, Equity and Value that the Portuguese make about services in the Portuguese banking sector influence their Satisfaction and Trust in banks. In order to carry out the research, a sample of 280 customers of banking institutions were surveyed and Structural Equation modelling was applied. Previously to conceptual model and hypotheses testing, confirmatory factor analysis was also conducted to assess convergent and discriminant validity of the overall measurement model.
Results show that (1) service quality is positively influenced by equity, which is in line with other studies (Huang and Su, 2010; Carr, 2007); (2) The perceived value depends on equity and quality; (3) Satisfaction depends on equity, quality and value; (4) Trust is influenced by all variables under study. Satisfaction reinforces the trust that customers place in companies; satisfied bank consumers value more the services offered they usually work with and expect those banks to keep providing such services (Verhoef et al, 2002).