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Chapter

PAPER BACKGROUND

1.1 INTRODUCTION:
he rapid strides made in the information and communication technology (ICT) arena have tremendously impacted the way banking is done worldwide. Nowadays, the customer does not have to enter the brick-and-mortar structure of

the bank in order to get serviced by the bank. He or she can get all the services right at his or her doorstep on his or her desktop. Such is the quintessential influence of ICT on banking that all major operations/decisions with regard to deposits, withdrawals, and investments can be made at the click of a mouse on a computer or at an automatic teller machine (ATM). The banks are continuously striving hard to bring the state-of-the-art ICT innovations to make banking an even more convenient and pleasurable experience thereby increasing the banks profits. Consequently, the banks have dumped their traditional product-driven strategy to embrace the more logical and profitable customer-driven strategy. On the other hand, customers have also become hungrier and want the banks to become a one-stop-shop for all their financial and investments needs. This two-way demand and supply equation has not yet reached equilibrium, and this precisely has given rise to an increasingly difficult set of managerial problems for the banks to grapple with. In this report those managerial problems are tried to expose through a customer satisfaction survey on technological banking service offered in Bangladesh by two key multinational players & .

Key words: Customer satisfaction, Technology, Banking, Bangladesh

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Banking technology & Customer satisfaction: considering

1.2 OBJECTIVES:

1.2.1 Report objectives


The main objectives of the report are as follows: To know how to prepare a customer satisfaction survey. To know the emergence, usage and status of banking technology in Bangladesh. To analyze the Bangladeshi banking industry on the technological perspective.

1.2.2 Customer satisfaction survey objectives


Customer satisfaction survey enables an institution to evaluate its performance by gauging the feelings of those who benefit from its services or products. By so doing, the institution may change direction if found to be drifting away from its original objectives or improve on the status quo if found to be on course. In this case, we made the customer satisfaction report for the following reasons To know whether the advance innovations of ICT can satisfy the increasing customers or not. To know perception of the Bangladeshi banking customers on banking technology. To point out the problems faced by the customer in current situations and give recommendations. To give an overview of customer satisfaction condition for decision making purpose.

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Banking technology & Customer satisfaction: considering

1.3

RESEARCH METHODOLOGY

1.3.1 Research design


The study generally examined every issue in terms of whether the different kinds of customers, who use technological service, were satisfied or not and if so the degree of satisfaction of lack thereof was then asked as a follow up. This method was able to isolate services that are doing well and those which need to be looked into. The study used the following methods to collect data:

i.

Desk Review

Relevant secondary material, such as- KPMG Nigeria Banking Industry Customer Satisfaction Survey Report (2012), Australian Consumer Survey Report, were reviewed before embarking on the fieldwork for survey organizing purpose. . The web site of Bangladesh statistics bureau also visited to elicit valuable information. This review was meant to get a proper understanding before making the study on customer satisfaction survey.

ii.

Field survey
& was conducted. The survey

A field survey covering customers of (APPENDIX-1).

employed a set of questionnaire including three sections- ATM, Mobile, and Online

iii.

Research Framework
& .

The sample of customers was drawn based on the areas served by

The sample was stratified according to region. While corporate customers survey was purposive, ordinary customers were subjected to exit survey using random sampling technique. 11
Banking technology & Customer satisfaction: considering

iv.

Field administration

To administer the questionnaires we made our 10 members team and everyone worked carefully to make the survey flawless. In this regard, the Principal researcher- Tazrina Farah, lecturer, department of Finance, University of Dhaka went through the questionnaire and discussed each question in great detail to avoid any misinterpretation. The questionnaires were pre-tested; necessary adjustments were then made before commencement of the survey.

v.

Data specification & Collection

The study used one set of survey data collection instrument having 3 sections. The individual customer satisfaction questionnaire was used to collect information from customers visiting the ATM booth while some survey questionnaires were sent to special customers via personal reference.

vi.

Sample size

The total number of questionnaires developed that were sent out was 100. Table 1 below indicates the questionnaires sent out per region and the number received back. 70 respondents were interviewed during the survey out of the targeted 100 respondents. Since the target population was less than 10,000, a sample estimate ( using the following formula: ) was calculated

( (

) )

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Banking technology & Customer satisfaction: considering

The number of the interviewees was 70. Table-1 below indicates the number of questionnaires sent out and received per region-

Table 1

Region Sent out Dhanmondi Motijheel Gulshan Banani Mirpur 25 25 20 15 15 18 15 16 9 12

Customers Received % 26% 21% 23% 13% 17%

Total

100

70

100%

1.4

SCOPE OF THE REPORT


& . Other

The report mainly examine the technological activities of

multinational banks was not considered. So, our survey respondents are the customers of stated two banks. And for that reason the overall customer satisfaction survey cannot represent the whole country situation.

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Banking technology & Customer satisfaction: considering

1.5

CONSTRAINTS OF THE REPORT:

The most important factor constraining our study was the sample size which is not so high so that standard error is high for the study. Some of the respondents did not seem to understand the questions and made no effort to ask for assistance in filling the questionnaire hence ending up not participating in the study. Thats why, despite our utmost efforts possible; we couldnt come up with satisfactory level of different data. On the other hand Research work is very much comprehensive. It is an accumulation of both information and creative thinking. It requires a great effort and long sound planning to make this report. It is true that we got help from many responsible people. But still we faced some problem. Because of some unavoidable reasons; we, sometime, face problem in some portion of the report. But we tried our level best to overcome this.

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