44 Himalayan Economics and Business Management Research Article Factors impacting customer satisfaction at Vietcombank in Nguyen Hoang Tien 1 , Dinh Ba Hung Anh 2 , Ho Tien Dung 3 , Ph
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44
Himalayan Economics and Business Management Research Article
Factors impacting customer satisfaction at Vietcombank in
Nguyen Hoang Tien 1 , Dinh Ba Hung Anh 2 , Ho Tien Dung 3 , Pham Van On 4 , Vu Tuan Anh 5 , Nguyen Van Dat 6 and Bui Quang Tam 7
1
Ho Chi Minh City University of Food Industry, Vietnam
2
Ho Chi Minh City University of Technology, Vietnam
3
University of Economics Ho Chi Minh City, Vietnam
4
Tien Giang University, Vietnam
5
Da Lat University, Vietnam
6
Tay Nguyen University, Vietnam
7
Nguyen Tat Thanh University, Vietnam
I NTRODUCTION
TO RESEARCH TOPIC
In today's competitive environment, customers are
the decisive factor to the existence and development of
the bank The bank that wins the attention and loyalty
of its customers will win and grow The
customer-oriented strategy is becoming the leading strategy of
commerce today How to bring customers the best
satisfaction is always the problem that banks try to do
with all their ability (Tien, 2017, 2019; Oliver,
1997) The satisfaction of customers is the main factor
leading to the success of a business whether it is a large
enterprise or small grazing g female a, k imperious row
is an invaluable asset of every business so Customer
satisfaction is a very important goal for every
business In today's market economy, competition
between businesses is becoming increasingly fierce, not
only in product quality but also in care before, during
and after the sale Loyal customers will always be ready
to accompany the business in any situation because
their belief in the business is great From the source of
loyal customers, you can easily have a large number of
new customers V IEC study and learn the factors
affecting customer satisfaction is extremely
Accommodation opinion ng to any desired bank can grow strongly Banks are always aiming to provide customer satisfaction for banking service to attract new customers Therefore, it is required for banks to identify factors of customer satisfaction and quantify
it The product packages on the financial market of most banks are almost similar in quality, utility and price And of course, the competitive advantage will belong to the bank that has good service quality, perfect customer care, and is able to exceed customer expectations on a regular and consistent basis As Michael LeBoeuf once said: “Customers are the most valuable asset of a business, without customers, the business would not exist” Or the talking numbers that reputable service providers in the world have statistic:
“On average, each unsatisfied customer will tell 13 friends and relatives Or, it costs 5 times more to find a new customer than it does to maintain an existing one Or, it takes 12 times of good customer service to make up for 1 bad customer service” Recognizing the importance that Vietcombank is one of the banks Joint Stock Commercial large scale in Vietnam, always the pioneer in providing customers with optimal financial solutions, the first and leading commercial bank in
*Corresponding Author
Nguyen Hoang Tien
Article History
Received: 11.07.2021
Accepted: 29.07.2021
Published: 10.08.2021
Citations:
Nguyen Hoang Tien, Dinh Ba
Hung Anh, Ho Tien Dung, Pham
Van On, Vu Tuan Anh, Nguyen
Van Dat and Bui Quang Tam
(2021);Factors impacting customer
satisfaction at Vietcombank in
Vietnam Hmlyan Jr Eco Bus Mgn;
2(4) 44-51
DOI: 10.47310/Hjebm.2021.v02i04.006
Abstract: This study was conducted to discover the factors affecting customer service quality satisfaction for Vietcombank in Ho Chi Minh City Quantitative research method has been carried out with the research object being customers who are directly performing transactions at the bank There are 347 valid questionnaires processed through exploratory factor analysis (EFA) and testing the research hypotheses by linear regression The results show that the factors of reliability, system, guarantee, interest rate and cost, tangible factors (facilities and forms) have a positive influence on customer satisfaction at Vietcombank in
Ho Chi Minh City) In which, emphasizes the importance of two factors of interest rate, service fee and system in improving customer satisfaction with the service, thereby enhancing loyalty to the bank CRM is a sound business strategy to identify the most profitable customers and potential customers of the bank Therefore, customer relationship management in the bank is one of the prerequisites for the bank to achieve the desired goals
service quality
Open Access
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Vietnam to deploy an effective, safe and convenient
cashless payment - card service today As the bank with
the most diversified card products in Vietnam,
accepting payment of all 7 popular bank cards in the
world branded American Express, Visa, Master Card,
JCB, Diners Club, etc boasts the leading position in
card issuance and payment market share in Vietnam's
card market When it comes to Vietcombank card
service, customers can choose for themselves from
domestic debit cards that are being selected by more
than 8 million customers: Vietcombank Connect
24, Vietcombank Connect24 Visa international debit
card, Vietcombank Mastercard or high-end application
products bearing famous worldwide brands In today's
competitive environment, the card market is
increasingly active and customers are the decisive
factor in the existence of the bank So banks always
towards how to bring customer satisfaction when
using services at the bank
RẢTIONALE
a) Concept of service
Services are intangible products As defined by the
page Wikipe dia (2017), "Service in the
National Health, e is entitled to understand that things
like that like goods, but immaterial"
(http://wikipedia.org, 2017) According to Kotler (2003):
"Service is any action and result that one party can
provide to another and is essentially intangible and does
not refer to ownership of something Its product may or
may not be associated with a physical product” (Kotler,
2003) According to Zeithaml and Bitner (2000),
services are behaviors, processes, ways of doing
something in order to create value value for customers,
satisfying customers' needs and expectations (Bui
Thanh Trang & Nguyen Dong Phong, 2014) According
to ISO 8402:1999: “Service is a result created to meet
requirements of customers by contact activities
between suppliers - customers and internal activities of
suppliers” And according to Nguyen Thu Hang (2004),
“Services are social activities, creating products and
goods that do not exist in physical form, in order to
satisfy promptly, conveniently and more effectively the
needs in production and human life” Service quality is
relative due to the same service quality levels will be
evaluated differently by different customers and
even by the same customer at different stages (Tien,
2020; Tien et al, 2020a; Tien et al, 2020b; Tien et al.,
2020c) In short, there are many different definitions of
service, but in general, a service is a purposeful activity
to meet some human need
b) Features of the service:
Services have basic characteristics that are quite
different from tangible products: Intangibility: the
service has no specific shape; we cannot touch, hold,
weigh, measure, and measure like tangible
products And so the service cannot be stored or
stored Inseparability: the consumption and production
of services are carried out simultaneously After being
manufactured, tangible products will be used by intermediary agents, wholesalers and retailers As for services, production and consumption take place at the same time, with the presence of service providers and service users Heterogeneity: or instability in quality: because production and consumption take place at the same time, service quality varies by time, space, provider and customer And when evaluating service quality, customers rely heavily on personal feelings as well as psychological state at the time of evaluation Non-storable: Services cannot be stored, stored, and sold like other goods We can prioritize the performance of the service in the order of first, but we cannot save the service and then use it because the service is finished and cannot be saved for "reuse" or
" recovery" again Therefore, a service is a product that
is used when it is created and then finished immediately Thus, compared with tangible products, services have four distinct characteristics as follows: intangibility, inseparability, heterogeneity and non-storability
c) Service quality:
“Service quality refers to the service provider's ability to meet or exceed customer expectations” (Bui Thanh Trang & Nguyen Dong Phong, 2014) Operational efficiency is assessed through the service quality perceived by customers, and service quality should be evaluated from the point of view of service users According to Gronroos (2007), service quality is considered as economic activities that create value and profit for customers at a certain time in a certain space (Beneke et al., 2012) In short, service quality is the behavior, process and process of service performance According to Parasuraman (1988), service quality is considered as the assessment, attitude about service excellence or superiority (Parasuraman et al., 1988) In general, service quality is the gap between customers' expectations about the service and their perception of the results when using the service Or service quality is the difference between customers' expectations about service quality and the service quality that they actually perceive If expectations are greater than perceived results, then perceived quality is low and customers will be dissatisfied and vice versa
R ESEARCH M ETHODS
From the 90s of previous century there have been several research projects related to quality of service and service quality measurements in many different disciplines In general, the works of Gronroos (1982), Lehtinen and Lehtinen (1982), Lewis and Booms (1983), Sasser, Olsen and Wyckoff (1978) give three
common characteristics of service quality: First, quality
Service quality is more difficult to measure than tangible products When buying a product, consumers have many tangible factors to judge quality: color, style, packaging Meanwhile, due to intangible characteristics, when buying products and services, consumers will have less tangible factors to evaluate service quality In
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many cases, they base their assessment primarily on
tangible factors such as the service provider's facilities,
equipment, and staff And in the absence of information
on tangible factors, consumers will be able to judge
service quality based on other factors, and in many
cases price (although no formal research has been done)
(Parasuraman et al., 1985) Also due to this feature, it
will be difficult for service providers to capture how
consumers perceive service and service quality When
service providers understand how consumers evaluate
service quality, they will come up with solutions to
influence consumers' evaluations in the right direction
(Parasuraman et al., 1985) Second, service quality is
perceived from the comparison of service quality
expectations with the actual quality
received Researchers and service providers believe that
service quality is a measure of how well a service meets
customer expectations Service delivery means meeting
customer expectations on a long-term basis
(Parasuraman et al., 1985) Smith and Houston consider
that customer satisfaction with service is assessed on
the basis of whether or not it matches their
expectations Third, service quality is assessed based on
the results and service delivery process Sasser (1978)
studied three components of service quality: the level of
raw materials, facilities and personnel Research shows
that service quality includes not only the outcome but
also the manner in which the service is
performed Grönroos (1982), in his research suggested
the two components of service quality: technical quality
(Technical quality), is what customers get Duo c and
quality functions (Functional quality), is service
procedures and methods The model is used to measure
customer perception of service quality In Lehtinen's
study (1982), service quality is created during the
interaction between customers and factors in the service
organization (Parasuraman et al., 1985) The
researchers used three factors to evaluate: quality of
material (equipment, office) ; organizational quality
(image, brand of the service organization) and
communication quality (arising from the
communication between customers and organizations,
customers with customers) The study also clarifies the
difference between service quality associated with
service delivery and quality associated with
results Research methods used in the thesis "Factors
affecting customer satisfaction at Vietcombank" include
data collection method; processing methods, data
analysis, satisfaction measurement scale
SERVQUAL scale is the main tool used to measure
service quality The 10 basic components of the scale
are: Reliability, Responsiveness, Competence, and
AccessibilityAccess), Courtesy, Information, Credibilit
y, Security, Understanding customer, Tangibles And in
the retail industry, because there are different
characteristics from the "pure" service industry
(banking, insurance,) so when using SERQUAL's
model to measure service quality, the results are not
successful (Dabholkar et al., 1996) In retail stores,
customers are offered both products and services and retailers tend to influence service quality rather than product quality (Dabholkar et al., 1996) Customers will have experiences in the process of shopping at the retail system through a series of activities such as searching for products, interacting with the staff of the retail system, returning goods All these activities will affect the customer's perception of service quality The service quality scale in the retail system was developed and tested by Dabholkar et al (1996) Based on the theoretical basis of the SERQUAL model combined with qualitative surveys and actual observations of customers shopping at supermarkets, Dabholkar et al (1996) have proposed a service quality measurement model consisting of five factors Factors: Facilities, Reliability, Problem Solving, Personal Interactions and Operational Policies and a scale of 28 observed variables; in which 17 variables are from SERQUAL model and the remaining 11 variables are from qualitative survey
a) The relationship between service quality and customer satisfaction
Service quality and customer satisfaction both emphasize the factors that consumers will compare products or services with a certain standard and the relationship between service quality and satisfaction of customers has been studied a lot in the literature, the common opinion of researchers is that these are two separate concepts, service quality is the cause of satisfaction According to Parasuraman et al (1988), service quality and satisfaction are two different concepts but closely related in research on services According to Zeithaml & Bitner (2000), customer satisfaction is a general concept that expresses their satisfaction when consuming a service, while service quality is concerned with specific components
of service According to Oliver (1993), Cronin & Taylor (1992), tested this relationship and concluded that service quality leads to customer satisfaction Service quality is related to service delivery, and satisfaction can only be assessed after using that service If the quality is improved but not based on the customer's needs, the customer will never
be satisfied with that service Therefore, when using the service, if the customer perceives the service as high quality, then they will be satisfied with that service Conversely, if the customer perceives the service to be of low quality, dissatisfaction will arise
b) System of service delivery (SYS):
Service delivery systematization is the orderly arrangement and provision of banking services through efficient, simplified and standardized procedures and processes Banks, in addition to the mandatory service processes, also have flexible processes for each bank The fact that a bank has quick and reasonable procedures contributes to meeting customer needs in the fastest and most accurate way, thereby satisfying customers A study by Abdullah et al (2010) in
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Malaysia confirmed that the service delivery system is
the most important component of banking service
quality that affects customers' overall perception of
service quality In other words, customers perceive the
service system to be more important than other
components in determining the quality of the services
they receive So the hypothesis is that the system affects
customer satisfaction?
Hypothesis H1: There is a positive correlation between
the system and customer satisfaction about the quality
of banking services
c) Reliability (REL):
Reliability is understood as the ability to perform
the right service and on time the first time, the ability of
the employee to deliver on the promise
correctly Reliability is a service quality component
studied such as: Karatepe et al (2005); Manshor et al
(2011) According to Kwan & Hee (1994), Yavas et al
(2004) reliability is the most important
component Research by Newman & Cowling (1994),
Tahir & Bakar (2007), reliability is not the most
important component, but only ranks second or third
Through many studies as above, we can found that
reliability is a component of banking service
quality Therefore, it is hypothesized that reliability has
an impact on customer satisfaction about the quality of
banking services
Hypothesis H2: There is a positive correlation between
reliability and customer satisfaction about the quality of
banking services
d) Empathy (EMP):
Empathy is understood as taking care of each
individual customer The most recent study by Ladhari
et al (2010) studying service quality differences in
Canada and Tunisia concluded that empathy is the most
important factor in the service quality component in
Canada This statement is true in the study of Newman
& Cowling (1994); Lasser et al (2002) and is also
consistent with the research of Karatepe et al (2005),
Newman (2001) (empathy is the second most important
component) However, there are also studies that
suggest that empathy is the least important component
(Beerli et al., 2004; Tahir & Bakar, 2007) In general,
empathy is a component of service quality, the author
has the following hypothesis: The impact of service
quality
Hypothesis H3: There is a positive correlation between
empathy and customer satisfaction about the quality of
banking services
e) Responsiveness (RES):
Responsiveness is expressed through the desire and
willingness of employees to provide timely service to
customers If in the study of Ladhari et al (2010), the
study of service quality differences in Canada and
Tunisia concludes that empathy is the most important
factor in the service quality component at banks in
Canada and in Tunisia, reliability and responsiveness are important components of service quality, which are the most important predictors of customer satisfaction and loyalty Customer responsiveness is also assessed
as an important component of service quality in the study of Newman (2001), Wang et al (2003), Tahir & Bakar (2007) The bank's willingness to help customers and respond quickly and accurately to customer requirements will bring satisfaction to customers, which
is the hypothesis that the author sets out for research
Hypothesis H4: There is a positive correlation between
responsiveness and customer satisfaction on banking service quality
f) Transaction & service costs (PRI):
Transaction and service costs are issues related to costs that customers have to spend In any business field, not only in the banking industry, the cost customers are willing to pay to get goods or services is always a matter of concern to customers and businesses In order for customers to spend a sum of money to buy goods and services, the goods and services themselves must meet the needs of the customer, thereby leading to customer satisfaction Research by Bahia & Nantel (2000) on the quality of banking services in Canada has shown that transaction costs and service usage are the second most important component At banks in Vietnam, is transaction cost and service usage a component of service quality affecting customer satisfaction, that is the hypothesis posed here:
Hypothesis H5: There is a correlation between
transaction costs and service use and customer satisfaction about the quality of banking services
g) Tangible means (TAG):
Tangible means are reflected in the appearance, clothing of employees and equipment and tangible assets that support the service At present, there are many conflicting opinions about whether tangible media is a component of the quality of banking services
or not According to the study of Yavas et al (1997), that tangible media is the most important component, in the study of Kwan & Hee (1994), Tahir & Bakar (2007) occupies a low position Contrary to the conclusions of the above studies, the study of service quality differences in Canada and Tunisia by Ladhari et al (2010) confirms that tangible means are not important
in both Canada and Tunisia The opinion of Arasli et al (2005) suggests that although banks change the environment, customers still evaluate the quality of banking services mainly in terms of the personal support they receive from individuals members, not technical innovation According to Molina et al (2007), despite the automation of banking technology, customers still want to transact between people So the question arises whether tangible media is a component
of service quality that affects customer satisfaction or not?
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Hypothesis H6: There is a positive correlation between
tangibles and customer satisfaction about the quality of
banking services
h) Research model:
According to the above hypotheses, we see that the
factors: system, reliability, empathy, responsiveness,
tangible media, transaction costs and service use are all
correlated positive with customer satisfaction about the
quality of banking services
Data Collection Methods:
The method uses information already available from a
variety of sources
+ Secondary data: Secondary data is data available
from the Internet, newspapers, textbooks and is data
that is used for other purposes, not the subject being
studied Secondary data can be identified quickly and
inexpensively In this study, secondary data is collected
and aggregated information about the overview,
operational structure of Vietcombank, information
related to customer satisfaction about banks in general
and Vietcombank in particular The above information
is compiled from sources on the Internet, newspapers,
business reports of Vietcombank and previous related
studies The information will be selected, related to the
research topic, arranged in a scientific, systematic
manner and clearly stated the source, author's name, and
date so that the information can be trusted and
checked
+ Qualitative research methods: gather an in-depth
understanding of human behavior and the reasons that
influence this behavior This method finds out an
important topic that the topic "Factors affecting
customer satisfaction at Vietcombank" could not cover
before and answers research questions with data of
nature explain and demonstrate the results found Since
this is secondary data, it will be necessary to sift
through to get the most accurate documentation for the
problem
Data Processing and Analysis:
+ Statistical methods with secondary data: Through
the collected data, create tables and charts, describe
charts to present the problem in the most intuitive way
+ Method of comparison and comparison: Through
secondary data, collect data and then compare and
compare the data obtained over the years, from which it
is possible to analyze and evaluate the current situation
Customer satisfaction at Vietcombank is based on results
Description of the Sample:
In order to apply the model in practice, from March
1, 2021 to May 15, 2021, a survey was conducted on customers performing transactions at branches of Vietcombank in Ho Chi Minh City The number of ballots distributed was 500 votes and 400 valid votes were collected Convenience sampling method and face-to-face interviews with customers who are transacting with a questionnaire designed according to 6 factors affecting customer satisfaction about banking services and a scale of 1 to 5
According to the survey results of 500 customers, the time of using the service is 78.1% of customers have used more than 1 year and 21.9% customers using services at VCB for less than 1 year Regarding the level of education, the results show that the research sample has been spread to all subjects with different educational levels, of which 49.6% of customers have intermediate or higher education, have good assessment skills which is consistent with my research About income: Out of 347 customers surveyed, 23.1% of customers have an income of 10-20 million/month, 53.9%
of customers have an income of 5-10 million, this group
of customers has a regular income This subject is consistent with my research
Evaluation of the scale (Cronbach's Alpha): The
scale is evaluated for reliability through two tools: Cronbach's Alpha coefficient and factor analysis Cronbach's Alpha coefficient is used to eliminate "junk" variables, variables with a total correlation coefficient of less than 0.3 will be eliminated and the scale will be selected when Cronbach's Alpha coefficient is greater than 0.6 (Hoang Trong & Chu Nguyen Mong Ngoc, 2008) Reliability is used to describe the error of a measurement, because it
is not possible to know the exact degree of variation of the true and error variables, and it is not possible to calculate the reliability of the scale directly However,
we can establish reliability based on Cronbach's Alpha coefficient This coefficient indicates the degree of correlation between the variables in the questionnaire, used to calculate the change of each variable and the correlation between variables (Hoang Trong & Chu Nguyen Mong Ngoc, 2008)
Table 2 Summary of Cronbach Alpha coefficients Stt Element Cronbach's coefficient Alpha
first Distribution system 0.876
7 Satisfaction with service quality 0.866
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Based on the summary table of Cronbach Alpha
coefficient, we see that VCB's reliability level is 0.823,
showing that customers' trust in VCB is very
good Customer satisfaction is also reflected in the
service quality satisfaction index (0,866) about staff
doing consulting services or customer care activities In
addition, satisfaction can be assessed through tangible
means such as ATMs or the coverage of ATMs needed
by VCB when customers have a need to use it at that
time is also VCB's ability to meet customers' needs
client Exploratory factor analysis (EFA) is used to
reduce a set of x to turn observations into a set of F
(with F < x) of more significant factors When doing
research, you will usually collect a fairly large number
of variables and a lot of observed variables in which
they are correlated with each other Instead of studying
20 minor characteristics of an object, you could study
only 4 major features, and for each of these major
features 5 small features that are correlated with each
other Thereby saving you a lot of time and money in
the research process Evaluation criteria: Factor loading:
Defined as the factor weight, this value represents the
correlation relationship between the observed variable
and the factor The higher the factor loading coefficient,
the greater the correlation between that observed
variable and the factor and vice versa According to
Hair et al (1998), factor loading or factor loading is an
indicator to ensure the practical significance of EFA:
• If Factor loading > 0.3 is considered minimum level
• If Factor loading > 0.4 is considered important
• If Factor loading > 0.5 is considered to be of practical
significance
However, you should note that the standard value of
the Factor Loading factor needs to be dependent on the
sample size In practice, it is not easy to remember each
load factor level for each sample size range, so it is
common to take the 0.5 load factor as the standard level
with sample sizes from 120 to less than 350; standard
load factor of 0.3 with sample size of 350 or
more Bartlett test has statistical significance (Sig <
0.05): Bartlett test is a statistical quantity used to
examine the hypothesis that variables are not correlated
in the population In the case of this test has statistical
significance (Sig < 0.05), the observed variables are
correlated with each other in the population KMO
coefficient (Kaiser-Meyer-Olkin) is an index used to
consider the appropriateness of factor analysis If this
value is less than 0.5, then factor analysis is likely not
suitable for the research data set The value of KMO
must reach a value of 0.5 or more (0.5 ≤ KMO ≤ 1)
which is a sufficient condition for factor analysis to be
appropriate Percentage of variance > 50%: It represents
the percentage variation of the observed variables That
is, considering the variation is 100%, this value tells
how much the factor analysis explains Eigenvalue is a
commonly used criterion to determine the number of
factors in EFA analysis With this criterion, only factors
with Eigenvalue ≥ 1 are kept in the analytical model
These solutions contribute to high satisfaction of customers for Vietcombank
Improve customer service efficiency: Customer service efficiency is one of the factors affecting
customer satisfaction Therefore, the Bank should pay attention to the recruitment and training of staff and constantly improve its ability to serve customers About employees: For new employees, it is necessary to organize re-training during the probationary period and for new employees, it is necessary to regularly organize training courses to improve and update new knowledge about the profession service About customer work: perform well in taking care of customers through attitudes, behaviors and manners when contacting and advising customers Employees who deal with customers must regularly update Vietcombank's latest information and hone their skills to successfully complete consulting and customer care work
Strengthening the trust of customers: Through the
study of Vietcombank, elements of customer trust for VCB (.823) Therefore, VCB need for exchanging experiences and accelerate productivity to enhance operational skills, processing speed work, review and standardization of processes and procedures for translation tools for customer oriented simple, friendly, accessible, cost and time for customers to ensure safe and fast Organize the settlement of customer complaints promptly and achieve the best quality
Continuously improve convenience for customers when using services: banking services via the Internet
(VCB-e-banking) is designed to make the commitment
to bring Vietcombank to customers anytime, anywhere Just a computer with an Internet connection and the access code by the banks offer, customers can perform transactions with banks and security absolute security like: lookup account information and account balances, account statements lookup time and information search of credit cards, debit cards Customers can register or request a change of service other electronics of VCB as VCB SMS Banking, VCB Phone Banking, VCB mobile banking, card services, services received account statements monthly through email and many other gadgets of the bank added Customers can perform banking transactions right on your smartphone quickly, safely and conveniently Besides these features on finance, VCB-Mobile B@nking new version also helps customers more support tools such as looking up information exchange rates, interest rates, location of the ATM, place of delivery banking services, management of portfolio securities This support tools ensuring accurate information, complete and update the visual display In addition, customers can share with your friends right in the app version of the new Boosting the capacity of staff to serve the speed of transaction processing and respond to questions and complaints from customers rapid minimize waiting time At the same time, the trading room should also improve the process feedback
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information and handling complaints and the steps to
receive dossiers and to ensure processes are followed
strictly For quality of cards is the ability to meet the
service tag for the expectations of customers who use
the card Improve the features of the card in order to
best respond to the needs of customers
Theoretical issues related to the bank's products and
services as well as understanding about customer
satisfaction with these products and services Banking
products and services are increasingly diversified, and
banks are more and more interested in satisfying their
customers The actual survey collects customers'
opinions on service quality, service prices and their
needs for products and services provided by
Vietcombank Specific orientations and solutions are in
order to build Vietcombank into a strong banking and
financial group, providing diverse and good quality
services, always bringing high satisfaction to customers
Some recommendations are proposed for the
sustainable development of Vietcombank:
First, improve customer trust:
Need to improve security and safety in
transactions One of the aspects of improving service
quality for banking services for customers is to ensure
safety and improve security when customers use
transactions For e-banking, apply modern encryption
technology to encrypt information in order to ensure the
confidentiality and integrity of customers' personal
information during service use More modern and
secure authentication methods, minimizing risks for
customers in case others access the e-banking system
Second, adjust the price policy mechanism:
The more banks exist in the market, the fiercer the
competition becomes In particular, the customer
service market is most noticeable to customers, when a
series of banks launch extremely low service packages
to attract customers, especially foreign banks Therefore,
Vietcombank also needs to be quick to come up with
appropriate pricing policies to ensure competitiveness
in the vibrant market At the same time, the decision on
service price should be based on the consideration of:
Psychological factors of customers; The bank's
positioning strategy; Set price list for customer
groups; Key target pricing method; Valuation using the
cost aggregation method; The method of pricing by
geographical area; The discriminant pricing method
Third, improve customer empathy, perform customer
care well:
Satisfying customer needs, improving customer
awareness and building customer loyalty is always what
Vietcombank needs to do Set up a customer care team
to serve customers attentively, quickly, with care to
identify customer needs and find the best way to meet
them: P clearly defines each customer must have staff
responsible for the care and management Clearly
define the coordination mechanism between branches and transaction offices in relation to customers Agree
on regulations, apply common policies with customers (interest rates, service fees) In addition, strengthening consulting and customer support: The quick and effective consultation for customers during the transaction process will help customers better understand banking services, contribute to part of making Vietcombank's product and service portfolio more attractive to businesses and individuals, thereby helping to retain customers
Fourth, strengthen the development of products and services:
improving and growing existing services, it will have the effect of expanding operations, improving service quality and maintaining market share Prioritize resources to focus on research and development of customer services Develop high-tech customer service to improve and increase productivity, speed, accuracy, quality and customer accessibility of products and services
evaluation criteria, step by step improve evaluation criteria and product management in order to create new channels for customers most effectively respond to wholesale and retail services, quickly detect weaknesses and inadequacies to upgrade, improve products or discontinue ineffective products and services
Fifth, improve facilities:
Ensure the stable operation of the technology system
in order to increase the quality of services provided to customers and create favorable conditions for the development of new products Investing in technology
to serve the analysis and evaluation of customer relationships, perfecting the reporting system for management and administration, especially determining cost-effectiveness for each product line, layout staff with solid professional knowledge, courtesy and enthusiasm to promptly respond to customers' needs, such as: Introduction, consulting, explaining transaction steps/processes, guiding customers
Sixth, improve customer service capacity:
The human factor is the most important factor for the success of the service business Training activities must aim at improving professional qualifications and equipping with complementary knowledge and skills, towards building a professional and modern working style Regarding human resource recruitment: properly assess the human resource needs of the units, follow the recruitment policies and procedures from the head office to select talents and attract good staff Create a favorable working environment to help
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each individual can promote all the ability It is
necessary to have a reasonable recruitment policy and
remuneration regime in order to retain and attract
talents In addition, Vietcombank regularly update
knowledge about professional services and skills
training for employees These skills include:
Professional skills, communication skills, situational
skills and sales skills In particular, Vietcombank must
improve the professionalism of its staff in serving
customers
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