Name enables authors to develop a connection with their characters. It offers a strong foundation for building up the rest of his/her personality.
The name of a character provides the first clue to who he/she really is, not only to the author but also to the readers.
The name of a character helps the readers remember them long after they've stopped reading it.
Further, names are certain vital tools of the author that he/she can use to create credible characters placed in a literary universe. It provides them with the impression of being genuine.