Essay on Customer Service in Banks

Customer service has become so essential to consider, whether locally or worldwide, particularly in the banking sector. With more financial services and products being provided by banks, these disparate systems must be integrated into a coordinated, effective infrastructure while offering customer support and comfort of the greatest possible level without exposing customers to issues relating to the integrated inner structures. In addition, I selected the commercial bank & Sanasa Development Bank for the research. By comparing the Commercial bank, Sanasa Development Bank should have improved customer service. The bank provides poor customer service from Sanasa Development. To improve the customer service that needs to enforce standards & policies, new technologies should also be used.

Introduction

In the last decade of the last century, the banking industry in Sri Lanka has risen rapidly. The level of competition has risen as well as it is significant. Customer service is vital to every organization throughout the modern world; it has a good impact on success. Simply describe customer service as serving and satisfying anyone's desires and wants. The significance of exceptional customer service also benefits the corporation and its employees enormously. The most significant points of excellent customer service.

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• Proactive analysis
• Knowledgeable staff
• Customized
• Tech-based solutions
• Empathizing customers
• Flexibility

These abilities lead to improved profits, consumer satisfaction, and improvement of the organization's effectiveness and efficiency. As mentioned above, customer service is a key factor for any organization whether it is a business or a financial institution that doesn't matter. They must enhance customer service and Expand coverage by extending ATMs and network sectors. In addition, attention is given to improving digital banking infrastructure, such as telephone and Internet banking. Every successful organization has outstanding customer service behind them.

The objective of the report

The primary aim of these studies is to provide suggestions to Sanasa Development Bank's Kaduwela branch to improve their customer service as they also have so many customer services associated problems & technical problems. As a researcher, I'm trying to offer them my recommendation to enhance their customer service. I surveyed the other major bank Commercial Bank and compared the two banks with customer services.

Literature Review

Customer Satisfaction Churchill Jr. & Surprenant (1982) defined customer satisfaction as a consequence of the purchase and as a consequence of the purchaser's comparison of the purchase's benefits and expenses with the expected implications.

According to Parasuraman et al(1988), customer satisfaction is described by comparing the customer expectations of a service provider 

Collection of data

For the research, first I toured the commercial bank Kaduwela branch. Then I met the manager. I discussed this with him for almost an hour he gave me significant bank information. I concentrated on customer service for that I asked premeditated questions regarding customer service. What kind of technique to make the customer happy, Is there any facility, Is there any training method for the new staff to provide better customer service, What are the procedures and strategies they use to create their employee's customer service skills, As bank manager he provides the customer's priority! He informed me so proudly. Towards this end, he carries out training programs for employees to improve their skills in customer service. How to make customers happy, how to contact customers if they have problems with what kind of stuff to do, and how to contact customers. If customers do incorrect stuff, offer some guidance to create it, but primarily concentrate on the well-being, and profitability of an organization. After talking to the director of Commercial Bank Kaduwela branch I came to meet the manager of Sanasa Development Bank Kaduwela branch this bank is government bank when I talked to her about customer service at the bank, she said how to create customer service skills. But while she was talking about customer service, I might feel she doesn't even have a customer service. Sanasa Development Bank did not even have a new personnel training program for the fresh staff. Further investigation of the studies I have designed a questionnaire to study the banking sector's customer experience.

Findings

Commercial bank

Commercial Bank of Ceylon is the leading bank in Sri Lanka. The bank originated in 1920. Commercial bank Ceylon PLC its 5,027-employee workforce serves millions of customers to get involved with the network over time. Commercial Bank has 266 branches & 830 branches around the island. This is a single Srilankan bank that has branches overseas like Maldives, Bangladesh, and Myanmar, and also in the top 1000 banks only Srilankan bank to be ranked for the 8th consecutive year.

To gather more data, the questionnaire was provided to 10 Commercial Bank customers.

Commercial bank customer reviews

• Most people choose their favorite bank as a commercial bank because of the family tradition, quality of service, and incentives
• Most People say commercial banks have friendly customer staff.
• The customer service agents provide speedy customer service due to that most of the Customers are highly satisfied.
• The online banking service is up to date 90%customers are highly satisfied.
• There are so many branches around the country available. 90% of them are very satisfied with the service.
• Most clients get involved with the bank because of excellent customer service.
• 60% of people say that the bank has excellent space for the transaction.
• 40% of people say the bank has good space for transactions. Overall it’s good.
• 80% of people say that branch cleanliness &maintenance is Excellent.
• 20% says branch cleanliness& maintenance is good.

Commercial bank employee’s reviews

• Most of the employees say the bank has friendly staff.
• Most staff is extremely happy with CSR procedures in the bank, which are given to the employees.
• 80% of employees receive extremely satisfied management assistance.
• 90% of Employees claim that the bank offers environmentally friendly services.
• Employees say bank rewards, bonuses, and benefits are outstanding.

Sanasa development bank

Sanasa Development Bank Plc is a licensed bank registered by Sri Lanka's central bank. This bank serves mostly people who don't have too much money. A network of 94 branches represented by 1504 faithful and support staff.

To gather more data, a questionnaire was provided to Sanasa Development Bank customers.

Sanasa Development Bank customer reviews

• Most people chose the Sanasa Development Bank because of its closeness and Incentive Schemes.
• 90% of People say that Sanasa Development Bank has poor customer service.
• There is no speedy customer service from the customer service agency. They do not provide service on time, even for small tasks that take 2-3 days to complete. Due to that most customers are dissatisfied with the customer service.
• People say the bank does not have the latest technology. Due to that customers are not satisfied with the service.
• 90%people believe the bank has good incentive schemes.
• Many people try, to transfer to a good bank because of the lack of customer service provided by the bank.
• 60% of People say the cleanliness & maintenance in the branch is poor.
• 40% of people say that the bank has fair space for the transaction. By the way, when we get overall it’s not a good impact for the customers.

Sanasa Development Bank employee’s reviews

• Most of the employees say the bank does not have friendly staff.
• Most staff are extremely not happy with CSR procedures in the bank, which are given to the employees.
• Employees receive averagely satisfied management assistance.
• 100%Employees consider that the bank does not offer environmentally friendly services.
• Average Employees say that banking rewards, bonuses, and benefits are not very good, mostly average.
• Online banking & self-service are very poor, at times they are even guilty.

Recommendation

• Loyalty & Trust

According to the study, 85 percent of customers who select the financial institution intentionally transfer money with the institution if they offer these two services (Loyalty & trust) to customers. It impacts to stay leading financial institution in Srilanka.

• Collect real-time customer experience statistics

It's one of the most successful ways to understand their customer service response by using questionnaires, and branch feedback. If you do that you can produce excellent customer experience, opportunities as well improvements.

• Be flexible in changing, updating, and enhancing features

Day by day the world is developing owing to the technology, strategy, method changing & coming into the globe of new trends. If your bank is updated with these services, customers can be given strong service.

• Hiring and training professionals with the appropriate skills

When the worker is recruited to the bank, attempt to offer opportunities to the finest staff who are outstanding in an educational & extracurricular activity. Also, offer regular training sessions for newly-current staff.

• Empathy

Empathy is the possibility to show and hear the emotions of other people. It's a common notion among bankers. When working under pressure they have to keep their empathy towards the customers.

• Trying to promote Internet banking

Internet banking is now the most popular among customers. Because it gets simple and the rush inside the banking becomes minimal such as Internet banking.

• Encourage customers to provide self-service

Working world people are so busy with their work that people are looking for simple techniques when it comes to the banking sector, it is also because ATMs and cash deposit machines are growing so much.

Conclusion

Customer service is essential for any type of organization. Having better customer service excellent impact on the organization. According to the study, Sanasa Development Bank needs to enhance customer service & skills. Due to lack of bad customer service of employees. As a researcher, I discovered what the defects are and what stuff to enhance in the future to provide better service if they follow the points listed below it would gain a huge turning point of better customer service.

Bibliography

• Dijk, M. (2003). Client satisfaction. Amsterdam: KIT.
• Reagles, S. (n.d.). Client satisfaction of persons served by the vocational assessment project.
• Smith, C. (2009). Client satisfaction pays. Lakewood, Colo.: AAHA Press.

Reference

1. SDB bank. (2019). Annual Reportsවාර්ෂික වාර්තාஆண்டு அறிக்கைகள் - SDB bank. [Online] Available at: http://www.sdb.lk/annual-reports/ [Accessed 28 July. 2019].
2. Combank.net. (2019). [Online] Available at: https://www.combank.net/newweb/images/pdffiles/2019/Commercial_Bank_of_Ceylon_PLC_Annual-Report_2018.pdf [Accessed 28 July. 2019].
3. Implementation of a customer satisfaction program: a case study. (2002). Measuring Business Excellence, 6(4).