Page 35 - Banking Finance July 2019

ARTICLE

Attitude: Attitude plays a very vital role in mapping Assurance: Assurance is the result which is derived from the
customer satisfaction. Their satisfaction depends on the clarity of services offered, friendliness of staff member and
attitude of employee concerned who is providing the services knowledge and competence of the employees of the
to them at the same time the attitude of different customers financial institutions. It helps the institutions in building trust
also going to be a deciding factor for their satisfaction. It is
with the customers and also improving their level of
a critical factor in controlling and manipulating the customer
confidence. A confident customer is also an inspired
satisfaction as it is a two way dimension as it deals in a give
customer. Ultimately the assurance given to the customer
and take policy. Even a customer who is having a major issue
at large will help the institution to reduce their operational
can be lightened up with the correct attitude.
risk.
Competence: Within the financial institutions Human
Empathy: Delivering the quality services with high level of
competence plays a crucial role in delivering quality services
customer satisfaction by the financial institutions may be
with satisfaction to the customer at large. The essential
possible with the empathy only. The financial institutions and
components of human competence include knowledge, skills,
its employees will have to feel the grievance of the
abilities, values, motivation, initiative, and self-control of the
customers from their point of view. It is said that only the
employees serving at the different levels of organizational
person who wears the shoe knows better where it pinches.
hierarchy.
Similarly when the employees and officials of financial
Tangibles: In financial institutions tangibles are defined as institutions will put them on customer's position, then they
the physical facilities namely office premises, equipments, can feel their problem. The firms' readiness and ability to
different machines available at the e-corner, interior design, provide solutions to the customers' grievances
etc. The tangibles have a good impact on the customer empathetically will measure the level of customer
satisfaction. The mention may be made of equipment and satisfaction within that financial institution.
machineries including the Automatic Teller Machine (ATM),
Passbook printing machine which provide valuable services Responsiveness: Responsiveness is very much essential
to the customer on 24x7 hour basis resulting in customer component within the institutions providing financial
satisfaction. services to their customer base. The customers' questions,
complaint, grievance, etc. should promptly be redressed.
Convenience: Different types of financial services are
Responsiveness shows how punctually the financial
offered to the customer at large by the financial institutions.
institution is willing to take up their problem and give the
The ease of offering services, availability of services
remedial of the same.
consistently, continuity in the quality of services offered
should be taken into care by the financial institution during
Loyalty: Loyalty indicates the trustworthiness of the financial
dealing with their customers. If the financial services are not
institution towards its customer base. The dedication and
made easily available to customers, then it may amount to
compliance of the banking institutions towards their
inconvenience to them. Financial institutions should always
customers measures the loyalty.
consider the convenience of customer at large in order to
satisfy them with the quality services.
Keeping in view of the above discussion and analysis Central
Bank has also come forward to play a significant role in
Reliability: At the time of adding customers by the financial
institutions, they promise to provide different types of providing customer satisfaction in view of increasing
quality financial services to them. Reliability is one of the customer base in the banking industry particularly from the
measures of ascertaining customer satisfaction. It is to be rural and semi urban areas. Mention may be made of
compared between the promise of delivering services to the establishing more Banking Ombudsman Offices in order to
customer and the actual services what they are offering to ensure fair treatment of customers in this industry. In the
them. Here the service provision and service delivery plays ICT age we have noticed that trend of receiving complaints
a crucial role and also decides the level of customer from dissatisfied customers in banking industry are
satisfaction depending upon their variation. increasing.

BANKING FINANCE | JULY | 2019 | 35