Bank carries an important role of increasing the economic status of a country by providing the financial facilities and services for all the working sectors (Agha Tahir Ijaz et al 2013). Good customer service is one of the major factor in helping the growth of bank business as well as customer satisfaction. Customer is always expecting to save their property or make investment in a very secure and reliable bank. Through the advancement customer service, it is expected that the bank will accept the increment in number of customer as well as customer satisfaction. It is due to the bank customer may introduce and recommend more people to perform financial service in the bank. Customer loyalty towards the specific bank will also be restored. Besides …show more content…
In this case, bank teller must tell all the information accurately regrading customer inquiry. Once bank teller tells the incorrect information such as investment or saving plan, customer may make wrong decision and it will let customer to suffer financial loss and waste customer time. Besides that, when bank staff receive the payment, the payment amount in the bank counter drawer should be same amount as paid by the customer. This also apply to the situation where the bank teller withdraw cash to customer and enter customer transaction into computer (Aurelio Locsin et al n.d.). The bank teller can use the money counting machine in order to display correct amount of money when process transaction with customer. Bank staff that work in counter must ensure that he or she will strive to obtain trust from the customer through each honest customer services (Penny Loretto n.d.).
Picture 1.3 Money counting
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As the saying goes: No man is an island. A single bank teller is not able to perform some heavy and important banking tasks given hence it requires cooperation or team work. As the matter of facts, bank manager actually would like to expect all the bank tellers to work as a team. Besides that, when the teller is facing the difficulties he or she must not be shy to ask other colleague for the advice. On the other hand, when other colleague is facing trouble, the teller must be able to provide help as well. For example, for the bank in Malaysia, when a Chinese customer have the difficulties on communicating with the Malay bank teller, the Chinese bank teller should take initiative to help the colleague and be the translator for that customer. Good bank counter working staff should willing to share new knowledge with the colleague and also motivate each
...l. If a transaction is missing or the cash on hand is not adding up management should be notified.
High levels of customer satisfaction will not guarantee future sales, but are more likely to result in repeat future sales than indifferent or poor customer service. Moreover, satisfied customers are more likely to try out other products/services in the firm’s range, or recommend it to friends and family. Build on customer loyalty Customer loyalty is valued highly by most businesses and can be
In their work, Plato and Paulo Freire have offered harsh critiques of education and learning. Plato compares people to prisoners in a cave of darkness in relation to knowledge, and Freire refers to a “Banking Concept” of education in which teachers put their thoughts and information into students’ minds much like the deposition of money into a bank. Instead of this money being of value, Freire and Plato acknowledge that the value declines. Although many people refute the concept of accepting new knowledge and admission of mistakes, I claim that both Plato and Freire produce valid points about the corruption of education because people cannot learn unless they have an open mind and truly desire to learn. Ultimately, what is at stake here is the effectiveness of learning and continuing the cycle of education.
At Wells Fargo, teamwork and sales are important skills needed in order to succeed as a teller. At Wells Fargo, I plan to incorporate a system where each teller gains the skills necessary so that each task runs efficiently. To begin, I will start observing each banker’s, and each teller’s normal routine. I will be listening carefully to the conversations the tellers, and bankers are having with customers. As an observer, I will be taking notes on what the employee’s strengths and weakness are when lobbying to a customer, and working with coworkers. I will continue this process for a week. Once the week is complete, I will have one on one meetings with each employee. After the employee’s one on one meeting is complete, a proposed course of
JPMorgan Chase is one of the largest and best known banks in the banking industry. JP Morgan Chase is a global financial service firm with operations in over 50 countries. With a CEO who is known as one of the banking industries top leaders it is obvious why they are in the top 10 of the fortune 500. Although JP Morgan Chase bank is one of the leaders in the industry I believe they are a long way away from being the most innovative bank around. Banks can be one of the most targeted locations for robberies which is why I find it important for them to protect their customers and themselves. Utilizing computerized bankers would be a good start to safety within their branches. Money should not be kept on the floor of any bank to avoid unnecessary situations.
Customer service is valued as a competitive tool by many organisations. It gives you the ability to gain customer loyalty while meeting the customer’s expectations. Staff will have many skills and knowledge that will provide a competitive edge. Most organisations are known for the quality of their customer service. This means that they are known for good customer service or poor customer service. However, being known for good customer service will attract customers. It will also attract customers who are usually hard to reach.
Nowadays, the technology are increases rapidly. The RBS also improving in their bank technology. As example. RBS created a website. This website may control the relationship between the bank and their customers. To make their relationship a good, the website will produce a forum or site to easy the customer to give their opinion, suggestion or to tell their problem that they having when using RBS bank account. As an international bank, it need to improve their products and services or technology in getting the customer stratifications. It also need to make customer trust to using RBS.
Initially the bank’s core banking system was product oriented, but the need of the hour was to develop a customer oriented system, because the challenge is to build customer loyalty, cross sell, and enhance repeat business.
The relationship between banker and customer is mainly that of a debtor and creditor. However, they also share other relationships. Some of the important relationships they share are depicted
The operations’ objective in a banking industry is cash utilization in daily or seasonal situations, which should reach up to 80% and in return ensure that all business activities are carried out in an efficient and effective way. This assures the appropriate management is executed once a trade has been finished, as well as to control daily processes and create new systems to increase the profitability for the bank. We took the example of the ATM machine, which reduced the face to face interaction between employees and customers, and led to less time for faster transactions.
Communication modern technological tools that have been enhanced by Information Technology are having an impact on changing the very structure and communication of banking. That is, clients are enabled to make their banking transactions whenever and wherever they want. Bank clients, by just logging on their online account, can transfer any amount of money from their account to any other account, check their last processed banking transactions and apply for loans and other banking services. According to Keyes ( 2000, p.591) 'electronic checks provide consumers with the benefits of convenience and safety while allowing billers to maintain their existing depository relationships with their banks'. Further, e-mails has enabled bank employees to notify their customers of any new enhanced bankin...
It's very well known that a companies success is not only dependant on the possession of a good product or service, but the key aspect to a successful business is excellent customer service. As the market grows, now more then ever companies are emerging, they are offering very similar types of products and services. Successful customer service can be a way a business becomes original and unique, it can be the key to attracting and maintaining loyal customers. Good customer service can start-up a business while bad customer service can harm a company. An average customer that experiences an issue will complaint to 9-10 people about the problem. A customer that received support to their problem and a potential solution will tell at least five
Deposit slip issue, online fund transfer slip issues, statement issue and entering the balancing inquiry of the customers.
Banks sector is playing an important role in economies. The banking industry, as the classic and the most influential of financial intermediaries, facilitates economic operations. Financial sector in the worldwide country has been changes over these years by looking the changes of financial structure environment and economic conditions. Thus, banks are a very important point to financial system and play an important role as control and contribute growth to the economic sector.
The Traditional Theory of Banking In this paper author review the traditional theory of banking and attempt to examine the theoretical reasons for why banks exist. As a financial intermediation, the natures of the banks are to provide financial services and conduct the intermediary functions in the whole financial system by accepting deposits and making loans. The question raised here are how they conduct these roles and why the borrowers and lenders do not come together without the banks for the saving of intermediation costs, why both of the two parties are ready to pay for their services and what’s the value added by the banks? The paper proceeds as follows. Section 2 offers a traditional view of banks and describes the nature of them.