Bank Credit Product Quality Standartisation: Necessity and Accomplishment

The article looks into possibility and necessity of bank credit product standartisation. Apparent reasoning for developing economies advocates standartisation as cushy method of assuring adequate quality to any bank product while in actual practice no such methods are implemented allegedly due to peculiarities of bank “manufacturing” process and specifics of bank credit products consumption. This article presents analysis of such impediments and ways of their elimination. In respect with existing methods of assessing bank service quality level such as SERVQUAL and SERVPERF author explores their applicability to bank credit product and offers a user-friendly technique to facilitate high quality of bank credit product in development—namely FUN—and a unified model of bank credit product quality standard for initial and further quality control. The latter is looked upon as a step forward to guarantee client-oriented focus in banking with perspective of being validated by Russian most proactive bank self-regulatory organisation—Association of Russian Banks (ARB).