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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 & .
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Banking technology & Customer satisfaction: considering
1.2 OBJECTIVES:
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Banking technology & Customer satisfaction: considering
1.3
RESEARCH METHODOLOGY
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
employed a set of questionnaire including three sections- ATM, Mobile, and Online
iii.
Research Framework
& .
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.
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
Total
100
70
100%
1.4
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
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.