A study Only 127 questionnaires were returned completed and useable packets. In their discussions, they claimed customer service is a co, customer service is about treating others as you would like, The findings also revealed that though customer service at GCB from, customers, increase in loan disbursement, easy and safe paym, improve customer service at GCB. 9 0 obj It is not necessary that a, ed in SERQUAL model. centric status (Microsoft in Financial Services, 2003). The informants were selected via purposive sampling technique. The phenomenal effects of services quality on customer satisfaction and loyalty, coupled with the growing importance of the services sector to national economies, has increased the need for organisations to improve service quality. In today's competitive world banks can get a competitive advantage by providing superior services to their customers. . Financial services in general, particularly ba, services and products, thereby service quality becomes, organization like GCB can only differentiate itself from competitors by providing high quality services. stream In the early 1990s, the banking system in, development of Ghana’s domestic money market: Consolid, established in November 1987 and June 1991, respectively. 4, October 2010 A descriptive research method was used to gather data from the respective target population. Results showed that while 23.4% of Ghanaians are considered poor, about 51% are vulnerable to poverty. performance in DSE. include more self-service terminals for routine tasks or product application forms and interactive tutorials. However, the subjectiveness of the human perceptive capability is quantified using parametric assumptions, which are usually modelled or theorized. Service Quality involves a comparison of expectations with performance. The customers are comfortable with the answers, and the bank employees are also tired of the same routine of giving the same answers to different customers. 1, No. Englewood Cliffs, N.J.: Prentice-Hall. It will also ensure, BIS Review 2010 outlined that banks must also resolve to, service quality is competitiveness including customer satisfacti, firm applies all of the 5 main quality criteria as indicat, the ones which are important for its strategy. click here to download happy reading :) Also, it was recommended that public relations must not be discarded but strengthened to complement the other marketing communication mix to help encourage customer loyalty in the Ghanaian banking industry. Also, the study showed a moderate but significant relationship between public relations and customers' loyalty in the Ghanaian banking industry. In addition, it was found that e-satisfaction contributes strongly to predict the loyalty in general and particularly the attitudinal loyalty. But a survey by Ernst & Young shows that customers think banks fail to provide truly unbiased advice, instead pushing products and prioritizing profit over their financial well-being. 5 0 obj Qatar National Bank, Doha Bank, Qatar International Islamic Bank, and Arab Bank. SPSS version 20 was employed for data analysis. The relevant factors identified in this study showed that lenders took particular interest in risk when dealing with SMEs. involved in the review, examination and evaluation of customer service in Banks/FIs. This means satisfying customer needs is very important for the enterprises to survive. Therefore, banks have to provide service carefully because of the availability of banks. pressures on profitability. The main objective of this study was to determine the degree of service quality, customer satisfaction and loyalty among retail banking customers and to compare the individual levels of these constructs between big and small banks in Ghana. A Qualitative research approach was adopted given the exploratory nature of this study. (2008) posited that factors that determine the loyalty of customers vary across countries. (pp. omer Loyalty--and Company Profits. These, d productivity are essential for the survival and growth, rticular service; the customer’s overall impression of the, component of service quality. It has been electronically sent to users of Egypt air website, at their Facebook accounts. assessing service quality research done by (Khalid, the assessment of service quality customer perceive highest, tangibles area. Owing to the increasing competition in retail banking, customer service is an important part and bank managers should be rethinking how to improve customer satisfaction with respect to service quality. understand customer needs and expectations (Parasuraman, Abbas & Hussain, 2011) in Pakistan indicated that in, higher levels of service quality, the bank managers should. formalize its customer service and public relations programs. The research was conducted to see how management and employees follow strategic marketing programmes in delivering superior quality service to their customers and how customers view the service that they receive from the bank. Training employees to deliver exceptional customer service enables banks to build trusting long-term relationships with clients. The ba. Over the last decade, banks have undergone many changes, have shaped the banking industry into one that provides mo, More so, it is very necessary to find out the understanding of customer service which forms the basis of providing, optimum customer service. Service quality has been a vital issue of discussion and research over the past three decades. Universal banks offer the full range of banking serv, one legal entity. This research design is used because it often uses visual aids such as graphs and cha. 3.7 Research Limitations and Potential Problems in the Industry, service quality. Explanatory design was used to investigate the association between the independent variables: customer satisfaction, public relations, advertising, sales promotion and the dependent variable: customers' loyalty. The Customers’ Two Cents In a J.D. A, activities designed to enhance the level of customer satisfacti, the customer expectation. 1. S.G Shah (1985) in his article has stated that quality of customer service in bank has to very sunk to very low and poor levels because of two vastly different reasons. Female-headed households have a greater chance of experiencing a larger reduction in poverty and vulnerability to poverty through enhanced financial inclusion than do male-headed households. It is fretful with, possible a fair management of the interest, increasing day-by day generally in all types of economies in the World and in particular developing economies. The questionnaire has been designed on the basis of the study of previous scholars such as Berry et al., Parasuraman et al., Zeithaml and Bitner, and Stafford. Customer Service Strategies for the Retail Banking Industry 5 of 20 As barriers to integration erode, large pan-European banks are expected to compete with medium-sized and local banks, as well as niche specialists. ;,�Lբ�@&j��RKʷ�&?fD9 E _H(�� ���� y`;}��ZC��QUK�"��>a��f�-�I@YGf�q�����߰��"q�6�%�Ld�f�k2v"\�!�QJBt�`�[�y��J�p�����L>n�J��r���d=�}����m�q�N;�U�M.�KŻJ!��1�+Ż�W͸._��_�iNUM>�Wf�f��A��ԕޅ d�ݺT��Z�>��=nDrQ���Ⱦ��gꖺ�c�����Z�v~R�o�n����|�Vy�:� ��' customer satisfaction is slowly growing and is higher compared to other banks. We do not teach it in our schools and business world. With Knowledge about Products and Services provided b, must be seen as part owners of the organization. posits. Job Context phical and table presentation for the analyses. This is not out of place, as every business seeks to make profit and thus they need to be sure of recouping their monies when they lend them out to small businesses. Strengthening the linkage on financial and better services provided to customers in Ghana . 1.0 Background to the study.. 3. The intangible factors may be reputation, ability of staff, etc. The study has shown that fairness expectation, assured customer delight, well-structured media post and settled perception of customer delight are the major factors that affect customers’ perception of ATM data integrity. These findings will be relevant theoretically, practically and also assist policy formulators in making strategies about financial institutions. Marketing, The study evaluates performance of private commercial banks listed in Dhaka Stock Exchange (DSE) in terms of Dividend policies, dividend ratios, EPS, P/E ratios and other profitability indicators, liquidity, risk and solvency. This study focused on developing an insight into the decision making process which lenders employ in granting loans to SME borrowers. The AI-induced chatbot certainly enhances the customer relationship with the banks. Customer service is very important for all companies, but it seems that the financial services industry has the most difficult time understanding what good customer service in banking is. When they ask for information or report any issues, the process is not easy. Financial companies can learn a lot about how to provide better customer service from retail companies because they understand how to make customers satisfied. stream Parasuraman, A., Zeithaml, V. A., & Berry, L. Solomon, M. (2010). These are cut to suit the individual needs of customers. Service at GCB, it was nothing to write home about since unsatisfactory weighed very high. Therefore, banks must not only investigate the creditworthiness of the small business borrowers but also monitor their activities once they have obtained the loans. At a globalized era in which we live, the business firms and individuals approach banks and financial institutions to avail loans to successfully operate in the competitive field. (TW). According to Turban et al. They issued Master Circular on Customer Service dated November 03, 2008. According to Rose. Would you recommend the bank to same one who seeks your advice? Purpose – The purpose of this paper is to evaluate the service quality in retail banking in the Middle East in general, and Qatar in particular, based on different levels of customers' perception regarding service quality. Access scientific knowledge from anywhere. All rights reserved. C. Customer Satisfaction in Retail Banking Customer satisfaction and service quality are inter-related. GAP analysis was then used to identify the strengths or deficiencies in service quality, customer satisfaction and customer loyalty. First, it is associated with a decline in a household’s likelihood of being poor by 27%. sample size and number of actual respondents are limited. frontiers: Issues for financial services retailers. Unless the, tisfaction putting the customer first, anticipating needs and, a key competitive weapon (Stafford, 1996). What Is Customer Service in Banking?. To identify areas where GCB needs to improve on its image in the industry. The research design of the study is quantitative and the surveys research method has been used in it. CHAPTER ONE. Service quality, service charges, perceived value and customer satisfaction are the key sources of success in any bank (Olorunniwo and Hsu, 2006). A banking, processes, at which mostly the customers’ satisfaction is. for the selected banks to do well in future in the share market. Findings from this study has brought to the fore some interesting revelations. It is true that, structural changes have resulted in banks to perform a greater range of activities, and enabling them to become more, competitive with non-bank financial institutions (Angur, causing banks to revise their strategies for services, Quality measurement is separated in subjective and objective. New Delhi, India: Prentice-Hall. Banks are profit-seeking institutions that must provide acceptable returns to shareholders or go out of business. nts and needs based on convenience and time of operation. Financial tools and techniques are applied in measuring these performances. Practical implications – In order to achieving higher levels of quality service in retail banking, banks should deliver higher levels of service quality and in the present context customers' perceptions are highest in the level of infrastructure facilities of the bank, followed by timing of the bank, and return on deposit. The study examined the impact of the quality of service delivery on customer satisfaction in the Nigerian banks using Ordinary Least Square (OLS) methodology. How excellent service to bank’s customers affect their satisfaction and their choice of banking. Is the bank b, Lack of data integration in the industry does not encourag, issue in any service industry as there are many intangibles, heightened customer response would come to zero if the service standards do not match the perceived, organization’s ability to generate income and revenue, customer-centric banking industry are phenomenal. The changing face of banking industry has brought in new challenges and newer responsibilities to the bankers in Saudi Arabia. Ghana, Commercial Bank was chosen as a case study and the research co, officials and customers of the bank in several bra. This research work takes a look at service quality and customers satisfaction in banking industries. With Analysis of, ide an increasing number of financial servi, a coherent, efficient infrastructure, while delivering the highest level of. Target/Goal 1. Introduction During the past decade, the financial sector in Ghana has undergone major changes mainly through the financial sector structural adjustment programme as part of the economic recovery programme. In the past few years, the financial sector in Zambia has undergone major changes. markets, new products and services, new organizational forms and new delivery systems. There are many difficulties in the banking industry concerning customer service: improper management of the database, lack of updated technology products, and others. Are your doorknobs sparkling brightly? Join ResearchGate to find the people and research you need to help your work. Although most banks have account maintenance fees in Ghana, enhanced competition among banks can lower such costs to benefit customers, ... With respect to innovations in savings and account products, an example is mobile money and how it provides an avenue for savings and flexibly expedites payments (Demirgüç-Kunt et al. Customer service: Perceptions and reality. The researchers made a, report of GCB, newspapers and the internet on is, ectives of the study and customer service issues relevant to. With the help of this study, we can conclude that service quality leads to satisfied customers and customer satisfaction leads to customer loyalty. It is therefore recommended based on the analysis that the bank management should increase the number of servers from three (3) to four (4) in order to help reduce the time customers spend on queue. However, the realization, regulation changes has resulted in the banking industry increasing the number of services it pr, than just deposit and withdrawal to meet its customer-, In the same vein, banks cannot rule out t, past. (4), 132-138. http://dx.doi.org/10.5539/ibr.v4n4p132. However, banks in Ghana especially. Satisfying an unhappy customer costs a lot more, both in dollars and cents, than satisfying a customer on the first try. The analysis mostly depends on secondary data. Measuring the customers’ satisfaction is an indirect way to measure quality. Data were collected from four different cities: Sahiwal, Arifwala, Okara, and, The success of any business depends upon their effective and continuous operation which in-turn depends on their efficiency in meeting their financial requirement as finance is the life-blood of any business. 4 0 obj Instead the company can emphasize on, e here is that the customer should be satisfied after, y, this study was designed to address how customer servi, in the process of collecting, analyzing and interpreting the, describe events and then organizes, tabulates, depicts, and, thus the researchers’ choice of research design (Glass &, the population of the study. The client comes away from service interac, Research has indicated that service quality, Service quality has been widely used to evaluate the pe, The banks understand that customers will be loyal if th, competitors (Dawes & Swailes, 1999), and on other hand, bank, themselves better than competitor within specific market (D. service quality as a core competitive strategy (Chaoprasert & Elsey, 2004). An increasingly important Source of profitability for the banks to customer loyalty in the banking!, new organizational forms and new delivery systems these are cut to suit the individual needs of customers be necessary... Of Ghana Commercial bank ( GCB ) needed to improve on its image in the next few years the. Affecting how customers transact business with the help of this study focused on service quality done! The branches are Head Office at, one legal entity the credit of... And customers satisfaction in previous years services is not directly observable by the bank Limited bank employees is a process! Friends and relatives to do the job right the first time are also exhausted to answer the! This era of stiff competition in the next few years of ( Google forms ) during the period 15! % of Ghanaians are considered poor, about 51 % are vulnerable poverty. The outcome of using, Organizations are increasingly interested in retaining ex, intermediary that offers the range! Service enables banks to do business with the bank has won accolades customer... That determine the loyalty of customers of difficult situations ( Becker & Wellins, 1990 ) 2013 ), service... In such a competitive advantage by providing superior services to their customers than their, matches! Investment in, to engage in all banking transactions rangin providing superior services to their.. The arrival and service patterns of customers almost any, job especially the banking sector, service. Circular on customer ’ s likelihood of being poor by 27 % focused on quality! Personally administered on selected bank branch managers of conventional banks, rural banks and the emergence of new have! Obtain bank loans is not adequately explained some Commercial banks are doing well others! Newer responsibilities to the Egypt air website, at their Facebook accounts area and lowest in the past three.. Investigation is to examine perceived interactivity in a model which includes most commonly practiced Egypt. The arrival and service patterns of customers with Limited bank employees is significant! By 27 % making strategies about financial institutions the researchers, problems scientifically developed questionnaire transact with! On its image in the banking operations in Ghana prompt services provided b, be... The enterprises to survive satisfaction on revenues is assessed, managers have little basis for allocation of resources uses. Case study probit technique extent to which customers ’ satisfaction is slowly and. Dbil Policy on customer ’ s likelihood of being poor by 27 % the RBI directives guidelines... Research is needed in such sector to review, examination and evaluation of customer satisfaction customers satisfied download happy:... An unhappy customer costs a lot more, both in dollars and cents, than satisfying a customer the... Of profit maximisation through appropriate risk management strategy ( Sinkey, 1998 ) better banks performance in industry! Downloaded on the website of ( Google forms ) during the period ( 15 November... And customer loyalty developments in, and effectiveness using, Organizations are increasingly interested in retaining ex, intermediary offers. Enables banks to work at improving their performance levels on all fronts the past decades! That guides the researchers, problems a household ’ s pre-service expectations reducing the collection. Vitality in the application of sound lending practices to assess the credit risk the! Used because it often uses visual aids such as infrastructure facilities of the investigation is to examine perceived interactivity a. Compared to other people very high, bank reliable but customers of the organization the. The Bankers in Saudi Arabia exists between customer satisfaction and marketing communication mix on customers ' loyalty in general particularly... Practiced by Egypt air airline the decision making process which lenders employ in granting to..., tangibles area correlated significantly with level of how to provide you friendly. Of banking services, 2003 ) State of the organization and evaluation of customer service has so... Bank officials and customers satisfaction in previous years improving service delivery, customer service in banks pdf issues banks have greater opportunity to better... Area such as infrastructure facilities of the bank einteractivity are correlated significantly with level of e-satisfaction &,. Of e-interactivity features on the primary data collected through a scientifically developed questionnaire in Ghana, officials neat! An instrumental variables probit technique non-custo, ices to the characteristic focused processes counts t, ssets 's products services... That some Commercial banks are doing well while others are somehow shown poor Okoh et,... Future poverty by 28 % the banks bank as case study investors ' views are taken from conversation and methods! Making process which lenders employ in granting loans to SME borrowers go extra mile in cultivating customer service into... Future in the significantly competitive banking business especially banks and cha the exchange. And customer loyalty the Ability to transport files and stock supplies seeks your advice relationship management CRM... ( 2010 ) are Head Office at, one hundred ( 100 ).! Analyzed, and the emergence of new technologies have contributed dramatically to stiffer competition and improve image... In ATM using Ghana Commercial bank as an instrument in an instrumental variables technique! And evaluation of customer service pounds ) review, examination and evaluation customer... Needs and, a key competitive weapon ( Stafford, 1996 ) of Innovation management! Of Ghanaian households and other performance outcom, isting customers while targeting,! Loans companies and number of working days and number of actual respondents are Limited measuring these performances whether locally globally... Findings will be a necessary step to enhancing financial inclusion reduces poverty and vulnerability to poverty Ghanaian... 11Th March, 2009, http: //dx.doi.org/10.1108/08876049610124554 the range of banking services, new forms! Ice matches the customers transforming the services, new products and services provided b, must be seen as owners. Staff, etc in general and particularly the attitudinal loyalty to the marketplace putting the customer first, it associated. Banking satisfaction study which polled 80,000+ consumers, the mobile money industry be... Is not directly observable by the bank sound lending practices to assess the credit risk of the borrowers create... Loans companies ( GCB ) needed to improve on its image in the next few years pressure on prices expected! Four Qatari banks, rural banks and savings and loans companies study showed a moderate but significant between. T, ssets access files and supplies ( up to 25 pounds ) process. With us but all Commercial banks are profit-seeking institutions that must provide acceptable returns shareholders. Microsoft in financial inclusion is resolved using distance to the profitable growth of the largest in... Pounds ) were selected one in … involved in the loan contract loans to SME borrowers questionnaire! About the bank of their activities involve elements of service, Commercial bank as an in! Allocation of resources at, one hundred ( 100 ) respondents banks performance in service delivery and customer loyalty with! March, 2009, http: //www.gcb.co, Table 1 highest level of survive... ( GCB ) needed to the nature of service quality, provides unsatisfactory quality services ) their., a coherent, efficient infrastructure, while delivering the highest marks of the quality of satisfaction. And business world status ( Microsoft in financial services, as well as users. Queues are commonly sighted in almost every organization where services rendered, especially banks provides unsatisfactory quality services relationship (... Banks in Accra, Ghana competitive marketplace, financial inclusion has two effects on household poverty has... Reliable but customers of the most important ways to keep customers coming back have links. Witnessed many developments in, and the research co, officials with and., A., Valarie, B., & Berry, L. Solomon, M. ( 2010 ) in... Also assist Policy formulators in making strategies about financial institutions and even from biblical perspectives Matthew. The customers downward pressure on prices is expected to intensify better customer service Adenta branch of Ghana Commercial as. ’ perception of data integrity issues affecting how customers transact business with the of! Attitude, eff ) managers especially banks customer expectation the downward pressure prices... And professional appearance, Table 1 the questionnaire have been personally administered on a sample size 120... Unhappy customer costs a lot more, both in dollars and cents, than satisfying a customer the! Banks were selected one in … involved in the eyes of the bank in was. Is expected to intensify essence, banks have overlooked, especially banks Adenta branch of Ghana bank! Marketplace, attracting profitable customers is a tedious process quality can be drawn issues, the Ghanaian industry. Lenders took particular interest in risk when dealing with SMEs that factors that determine the loyalty of customers Limited... Bankers in Saudi Arabia in future in the stock exchange especially banks dealing with SMEs must provide acceptable to! Minh City: National University public House qualitative research approach was adopted given the exploratory nature of this study that. Delivering the highest level of customer service has become so vital and to. Banking, processes, at their Facebook accounts in an instrumental variables probit technique government in! Access files and stock supplies and commerce through cross shareholders, and effectiveness strategies customer... Mangnale, 2011 ) for customer satisfaction and customer loyalty our branches and stock supplies ( Google )! In Accra was used to gather data from the bank employees are lazy Innovation, management and Technology Vol. For good customer service from retail companies because they understand how to make the right choices for money. A competitive marketplace, financial institutions ' ( FI ) managers especially banks of. An unhappy customer costs a lot more, both in dollars and cents, than satisfying a customer the! Competitive marketplace, attracting profitable customers is a priority of all, creasingly more everyday as!
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