crm practices in banks
TRANSCRIPT
Customer Relationship Management
Assignment on CRM practices in
Bank of India and ING Vysya Bank
SUBMITTED TO
Prof Reeti Agarwal
SUBMITTED BY
Feroz Ahmad (JIML-11-057)
Ankit Pandey (JIML-11-021)
Ashish Saxena (JIML-11-39)
Bhola Bhakta (JIML-11-FS-021)
(Section ndashB)
Date 29 September 2012
ACKNOWLEDGEMENT
We are grateful to our respected faculty prof Reeti Agarwal for giving us an opportunity
to understand the analysis of CRM practices in banking sector Through this project we
got to learn that how to look at the problem from a Managerrsquos perspective
We would like to present our gratitude to Reeti Mam for the successful completion of the
project which would not have been possible without her constant help and guidance
Bank of Baroda is an Indian bank based in Vadodara India It is the countrys first largest public sector lender in terms of annual profit BoB is ranked 715 on Forbes Global 2000 list BoB has total assets in excess of Rs 358 lakh crores or Rs 3583 billion a network of 4007 branches (out of which 3914 branches are in India) and offices and over 2000 ATMs It plans to open 400 new branches in the coming year It offers a wide range of banking products and financial services to corporate and retail customers through its delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking credit cards and asset management Its total global business was Rs 672248 billion as of 31 March 2012 Its headquarter is in Baroda and corporate headquarter is in Bandra Kurla Complex Mumbai
In its international expansion the Bank of Baroda followed the Indian diaspora especially that of Gujaratis The Bank has 93 branchesoffices in 24 countries including 55 branchesoffices of the bank 36 branches of its 8 subsidiaries and 2 representative offices in Thailand and Australia The Bank of Baroda has a joint venture in Zambia with 16 branches
Among the Bank of Barodarsquos overseas branches are ones in the worldrsquos major financial centers (eg New York London Dubai Hong Kong Brussels and Singapore) as well as a number in other countries The bank is engaged in retail banking via the branches of subsidiaries in Botswana Guyana Kenya Tanzania and Uganda The bank plans to upgrade its representative office in Australia to a branch and set up a joint venture commercial bank in Malaysia It has a large presence in Mauritius with about nine branches spread out in the country
IndiaFirst Life Insurance Company is a joint venture between two of Indiarsquos public sector banks ndash Bank of Baroda (44) and Andhra Bank (30) and UKrsquos financial and investment company Legal amp General(26)[1] It was incorporated in November 2009 and has its its headquarters in Mumbai[1] The company started strongly achieving a turnover in excess of Rs 200 crores in in its first four and half months and being recommended for ISO certification within 7 months
In 2011 BoB opened an Electronic Banking Service Unit (EBSU) was opened at Hamriya Free Zone Sharjah (UAE) It also opened four new branches in existing operations in Uganda Kenya and Guyana BoB closed its representative office in Malaysia in anticipation of the opening of its consortium bank there BoB received lsquoIn Principlersquo approval for the upgrading of its representative office in Australia to a branch
CRM Practices in Bank of Baroda
Technology-based CRM
Technology plays the role of enabler in CRM deployment and allows Bank of Baroda to achieve greater customization and better service at lower cost that helps in better customer identification and fast and convenience services to its customers
Customer Loyalty Programs
Bank of Baroda has an aim to be a customer centric organisation and build a favorable and long term relationships with its customers Loyalty has both an attitudinal and behavioral dimensions to adjudge the customers based on their value and attachment with the bank Behavioral loyalty will include examples like maintaining long term relationship with bank word of mouth etc while attitudinal loyalty will comprise examples like trust or emotional attachment Further behavioral loyalty does not necessarily reflect attitudinal loyalty thus Bank of Baroda focuses on attitudinal loyalty through its various loyalty programs marketing communications to emotional touch the target customers because loyalty leads to more business and increase in bottom line of the bank It has four loyalty cards based on value of the customers such as Platinum Gold Silver and Bronze It helps in identifying the most valuable customers and plans the different offers schemes and services as per their needs and preferences
Data Warehouse and Data Mining
The Data warehouse is the core of any decision support system and hence of the CRM In implementing its Data Warehouse Bank of Baroda has selected an incremental approach where the development of information systems is integrated with the business strategy Instead of developing a complete design of a corporate Data Warehouse before implementing it the bank has decided to develop a portion of the Data Warehouse to be used for customer relationship management and for the production of accurate and consistent management reports Here the bank is not concerned with the latter goal but are concentrating on the former
The Data Warehouse has been designed according to the IBM BDW (Banking Data Warehouse) model that has been developed as a consequence of the collaboration between IBM and many banking customers The model is currently being used by 400 banks worldwide Bank of Baroda Data Warehouse is regularly populated both from operational systems and from intermediate sources obtained by partial pre-processing of the same raw data
CRM Practices from Customer Perspective
Less than 1 Year8
1-2 yr16
2-3 yr283-4 yr
16
more than 4 year32
Since when you are having an ac in your current bank
The above graph shows that 32 of total respondents are having their ac with Bank of Baroda for more than 4 years 28 are for 2-3 years and 16 for both 1-2 year and 3-4 years Thus it shows that Bank of Baroda is doing well and is able to retain its customer through its various attractive services
Saving Ac 39
Fixed Deposit 13
Credit card 22
Loan5
Current Ac 6
Internet banking 11
Demat Ac 5
Please tick the services you avail of your current bank
We can infer from this figure that a large no of 39 respondents are having the core facility of the bank ie saving ac and 22 are also using credit card of the bank All the other facility such as demat ac current ac loan and internet banking is being used by very small portion of respondents of 5 6 5
and 11 respectively A drawback can be easily identified that none of the respondents are using mobile banking facility thus Bank of Baroda should come up with many attracting features to encourage mobile banking
Loan
ing
Bank A
c
ATM se
rvice
s
Inte
rnet
ban
king
Mobile
ban
king
Credit
card
Demat
facil
ity
Lock
er fa
cility0
2
4
6
8
10
12
14
Please rate the following services of your current bank from 1 to 5 (Least to Most)
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but Bank of Baroda is doing well in this category thus it should be strengthening this facility and should make available to large customers Internet banking mobile banking and demat ac are rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied16
Satisfied68
Average4
Dissatisfied12
Please rate your satisfaction level with your current bank
The most important aspect for any organisation is to be rated high on satisfaction level by its customers Here the graph reflects that 68 of respondents are satisfied with Bank of Baroda and even 16 are highly satisfied Only 12 are dissatisfied and the best part is that none of the respondents felt highly dissatisfied with the services of the bank Thus company should also focus on this 12 dissatisfied because dissatisfaction leads to increase in dissatisfied customers
Yes56
No44
Do you have any complaints regarding your bank
It can be clearly see that 56 of respondents do have complaints regarding bank besides they are satisfied with bank and only 44 feels that they would not complain regarding services of the bank It generally happens when customers do have complaints and do not want to switch to other service provider due to their loyalty towards the bank They want to stay with the bank and desire to get resolution to their problems Therefore Bank of Baroda should effective handle the complaints of its customers to make them satisfied and un-complained It should also provide some convenient complaint system and effective resolution of those complaints
Rude behavior of employee13
Unresponsiveness of employee
21
Delay in service delivery
31
Non-upgraded services4
Disruption in service9
Wrong transaction3
Insecure services (mobile in-ternet banking)
19
Please tick the area where you have complaints
The above areas are the general area of complaints by many customers Here 31 of the respondents believe that they do not get their service on time and there happens delays in delivery of services that leads to high waiting time for customers Waiting time is always unproductive for customers as well as bank because it is also loss of opportunity and may also lead to switching of customers to competitors Among all the respondents 21 feels that the employees of the bank do not proactively response their queries and complaints and 13 of respondents have also experienced that employees were rude to them while interacting These two aspects are related to behavior of employees that may influence a customer to be loyal and may also spoil the long term relationship with the bank in a while Thus the bank should conduct some soft skill training to make the employees behave with customers in a good manner Moreover 19 responses were about insecurity in digital banking such as internet and mobile banking and that is why most customers do not use these facilities Thus Bank of Baroda should come up with good secure system and ensure the security and should convey the same to its customers effectively in taking their confidence
yes68
no28
not sure4
Do you feel that your complaints are resolved effectively
The above graph shows the effective handling of customers by Bank of Baroda It is able to make 68 of respondents feel that their complaints were resolved effectively and this may be the reason of high no of respondents are satisfied with the bank There is still need of work to be done to make those 28 respondents happy with the resolution provided to them on their complaints
Strongly agree52
Agree32
Disagree12
Strongly disagree4
You were satisfied with resolution provided on your previous complaints
This graph shows the outcome of the previous question where 52 of respondents strongly agree that they were satisfied with resolution on their complaints Moreover 32 respondents do agree with the above statement that implies that they are satisfied with the resolution provided to them But 12 of respondents also disagree and 4 of respondents even strongly disagree that they were given proper resolution to their problems Thus Bank of Baroda should focus on effective complaints handling by soft spoken experienced and helpful employees
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
ACKNOWLEDGEMENT
We are grateful to our respected faculty prof Reeti Agarwal for giving us an opportunity
to understand the analysis of CRM practices in banking sector Through this project we
got to learn that how to look at the problem from a Managerrsquos perspective
We would like to present our gratitude to Reeti Mam for the successful completion of the
project which would not have been possible without her constant help and guidance
Bank of Baroda is an Indian bank based in Vadodara India It is the countrys first largest public sector lender in terms of annual profit BoB is ranked 715 on Forbes Global 2000 list BoB has total assets in excess of Rs 358 lakh crores or Rs 3583 billion a network of 4007 branches (out of which 3914 branches are in India) and offices and over 2000 ATMs It plans to open 400 new branches in the coming year It offers a wide range of banking products and financial services to corporate and retail customers through its delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking credit cards and asset management Its total global business was Rs 672248 billion as of 31 March 2012 Its headquarter is in Baroda and corporate headquarter is in Bandra Kurla Complex Mumbai
In its international expansion the Bank of Baroda followed the Indian diaspora especially that of Gujaratis The Bank has 93 branchesoffices in 24 countries including 55 branchesoffices of the bank 36 branches of its 8 subsidiaries and 2 representative offices in Thailand and Australia The Bank of Baroda has a joint venture in Zambia with 16 branches
Among the Bank of Barodarsquos overseas branches are ones in the worldrsquos major financial centers (eg New York London Dubai Hong Kong Brussels and Singapore) as well as a number in other countries The bank is engaged in retail banking via the branches of subsidiaries in Botswana Guyana Kenya Tanzania and Uganda The bank plans to upgrade its representative office in Australia to a branch and set up a joint venture commercial bank in Malaysia It has a large presence in Mauritius with about nine branches spread out in the country
IndiaFirst Life Insurance Company is a joint venture between two of Indiarsquos public sector banks ndash Bank of Baroda (44) and Andhra Bank (30) and UKrsquos financial and investment company Legal amp General(26)[1] It was incorporated in November 2009 and has its its headquarters in Mumbai[1] The company started strongly achieving a turnover in excess of Rs 200 crores in in its first four and half months and being recommended for ISO certification within 7 months
In 2011 BoB opened an Electronic Banking Service Unit (EBSU) was opened at Hamriya Free Zone Sharjah (UAE) It also opened four new branches in existing operations in Uganda Kenya and Guyana BoB closed its representative office in Malaysia in anticipation of the opening of its consortium bank there BoB received lsquoIn Principlersquo approval for the upgrading of its representative office in Australia to a branch
CRM Practices in Bank of Baroda
Technology-based CRM
Technology plays the role of enabler in CRM deployment and allows Bank of Baroda to achieve greater customization and better service at lower cost that helps in better customer identification and fast and convenience services to its customers
Customer Loyalty Programs
Bank of Baroda has an aim to be a customer centric organisation and build a favorable and long term relationships with its customers Loyalty has both an attitudinal and behavioral dimensions to adjudge the customers based on their value and attachment with the bank Behavioral loyalty will include examples like maintaining long term relationship with bank word of mouth etc while attitudinal loyalty will comprise examples like trust or emotional attachment Further behavioral loyalty does not necessarily reflect attitudinal loyalty thus Bank of Baroda focuses on attitudinal loyalty through its various loyalty programs marketing communications to emotional touch the target customers because loyalty leads to more business and increase in bottom line of the bank It has four loyalty cards based on value of the customers such as Platinum Gold Silver and Bronze It helps in identifying the most valuable customers and plans the different offers schemes and services as per their needs and preferences
Data Warehouse and Data Mining
The Data warehouse is the core of any decision support system and hence of the CRM In implementing its Data Warehouse Bank of Baroda has selected an incremental approach where the development of information systems is integrated with the business strategy Instead of developing a complete design of a corporate Data Warehouse before implementing it the bank has decided to develop a portion of the Data Warehouse to be used for customer relationship management and for the production of accurate and consistent management reports Here the bank is not concerned with the latter goal but are concentrating on the former
The Data Warehouse has been designed according to the IBM BDW (Banking Data Warehouse) model that has been developed as a consequence of the collaboration between IBM and many banking customers The model is currently being used by 400 banks worldwide Bank of Baroda Data Warehouse is regularly populated both from operational systems and from intermediate sources obtained by partial pre-processing of the same raw data
CRM Practices from Customer Perspective
Less than 1 Year8
1-2 yr16
2-3 yr283-4 yr
16
more than 4 year32
Since when you are having an ac in your current bank
The above graph shows that 32 of total respondents are having their ac with Bank of Baroda for more than 4 years 28 are for 2-3 years and 16 for both 1-2 year and 3-4 years Thus it shows that Bank of Baroda is doing well and is able to retain its customer through its various attractive services
Saving Ac 39
Fixed Deposit 13
Credit card 22
Loan5
Current Ac 6
Internet banking 11
Demat Ac 5
Please tick the services you avail of your current bank
We can infer from this figure that a large no of 39 respondents are having the core facility of the bank ie saving ac and 22 are also using credit card of the bank All the other facility such as demat ac current ac loan and internet banking is being used by very small portion of respondents of 5 6 5
and 11 respectively A drawback can be easily identified that none of the respondents are using mobile banking facility thus Bank of Baroda should come up with many attracting features to encourage mobile banking
Loan
ing
Bank A
c
ATM se
rvice
s
Inte
rnet
ban
king
Mobile
ban
king
Credit
card
Demat
facil
ity
Lock
er fa
cility0
2
4
6
8
10
12
14
Please rate the following services of your current bank from 1 to 5 (Least to Most)
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but Bank of Baroda is doing well in this category thus it should be strengthening this facility and should make available to large customers Internet banking mobile banking and demat ac are rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied16
Satisfied68
Average4
Dissatisfied12
Please rate your satisfaction level with your current bank
The most important aspect for any organisation is to be rated high on satisfaction level by its customers Here the graph reflects that 68 of respondents are satisfied with Bank of Baroda and even 16 are highly satisfied Only 12 are dissatisfied and the best part is that none of the respondents felt highly dissatisfied with the services of the bank Thus company should also focus on this 12 dissatisfied because dissatisfaction leads to increase in dissatisfied customers
Yes56
No44
Do you have any complaints regarding your bank
It can be clearly see that 56 of respondents do have complaints regarding bank besides they are satisfied with bank and only 44 feels that they would not complain regarding services of the bank It generally happens when customers do have complaints and do not want to switch to other service provider due to their loyalty towards the bank They want to stay with the bank and desire to get resolution to their problems Therefore Bank of Baroda should effective handle the complaints of its customers to make them satisfied and un-complained It should also provide some convenient complaint system and effective resolution of those complaints
Rude behavior of employee13
Unresponsiveness of employee
21
Delay in service delivery
31
Non-upgraded services4
Disruption in service9
Wrong transaction3
Insecure services (mobile in-ternet banking)
19
Please tick the area where you have complaints
The above areas are the general area of complaints by many customers Here 31 of the respondents believe that they do not get their service on time and there happens delays in delivery of services that leads to high waiting time for customers Waiting time is always unproductive for customers as well as bank because it is also loss of opportunity and may also lead to switching of customers to competitors Among all the respondents 21 feels that the employees of the bank do not proactively response their queries and complaints and 13 of respondents have also experienced that employees were rude to them while interacting These two aspects are related to behavior of employees that may influence a customer to be loyal and may also spoil the long term relationship with the bank in a while Thus the bank should conduct some soft skill training to make the employees behave with customers in a good manner Moreover 19 responses were about insecurity in digital banking such as internet and mobile banking and that is why most customers do not use these facilities Thus Bank of Baroda should come up with good secure system and ensure the security and should convey the same to its customers effectively in taking their confidence
yes68
no28
not sure4
Do you feel that your complaints are resolved effectively
The above graph shows the effective handling of customers by Bank of Baroda It is able to make 68 of respondents feel that their complaints were resolved effectively and this may be the reason of high no of respondents are satisfied with the bank There is still need of work to be done to make those 28 respondents happy with the resolution provided to them on their complaints
Strongly agree52
Agree32
Disagree12
Strongly disagree4
You were satisfied with resolution provided on your previous complaints
This graph shows the outcome of the previous question where 52 of respondents strongly agree that they were satisfied with resolution on their complaints Moreover 32 respondents do agree with the above statement that implies that they are satisfied with the resolution provided to them But 12 of respondents also disagree and 4 of respondents even strongly disagree that they were given proper resolution to their problems Thus Bank of Baroda should focus on effective complaints handling by soft spoken experienced and helpful employees
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Bank of Baroda is an Indian bank based in Vadodara India It is the countrys first largest public sector lender in terms of annual profit BoB is ranked 715 on Forbes Global 2000 list BoB has total assets in excess of Rs 358 lakh crores or Rs 3583 billion a network of 4007 branches (out of which 3914 branches are in India) and offices and over 2000 ATMs It plans to open 400 new branches in the coming year It offers a wide range of banking products and financial services to corporate and retail customers through its delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking credit cards and asset management Its total global business was Rs 672248 billion as of 31 March 2012 Its headquarter is in Baroda and corporate headquarter is in Bandra Kurla Complex Mumbai
In its international expansion the Bank of Baroda followed the Indian diaspora especially that of Gujaratis The Bank has 93 branchesoffices in 24 countries including 55 branchesoffices of the bank 36 branches of its 8 subsidiaries and 2 representative offices in Thailand and Australia The Bank of Baroda has a joint venture in Zambia with 16 branches
Among the Bank of Barodarsquos overseas branches are ones in the worldrsquos major financial centers (eg New York London Dubai Hong Kong Brussels and Singapore) as well as a number in other countries The bank is engaged in retail banking via the branches of subsidiaries in Botswana Guyana Kenya Tanzania and Uganda The bank plans to upgrade its representative office in Australia to a branch and set up a joint venture commercial bank in Malaysia It has a large presence in Mauritius with about nine branches spread out in the country
IndiaFirst Life Insurance Company is a joint venture between two of Indiarsquos public sector banks ndash Bank of Baroda (44) and Andhra Bank (30) and UKrsquos financial and investment company Legal amp General(26)[1] It was incorporated in November 2009 and has its its headquarters in Mumbai[1] The company started strongly achieving a turnover in excess of Rs 200 crores in in its first four and half months and being recommended for ISO certification within 7 months
In 2011 BoB opened an Electronic Banking Service Unit (EBSU) was opened at Hamriya Free Zone Sharjah (UAE) It also opened four new branches in existing operations in Uganda Kenya and Guyana BoB closed its representative office in Malaysia in anticipation of the opening of its consortium bank there BoB received lsquoIn Principlersquo approval for the upgrading of its representative office in Australia to a branch
CRM Practices in Bank of Baroda
Technology-based CRM
Technology plays the role of enabler in CRM deployment and allows Bank of Baroda to achieve greater customization and better service at lower cost that helps in better customer identification and fast and convenience services to its customers
Customer Loyalty Programs
Bank of Baroda has an aim to be a customer centric organisation and build a favorable and long term relationships with its customers Loyalty has both an attitudinal and behavioral dimensions to adjudge the customers based on their value and attachment with the bank Behavioral loyalty will include examples like maintaining long term relationship with bank word of mouth etc while attitudinal loyalty will comprise examples like trust or emotional attachment Further behavioral loyalty does not necessarily reflect attitudinal loyalty thus Bank of Baroda focuses on attitudinal loyalty through its various loyalty programs marketing communications to emotional touch the target customers because loyalty leads to more business and increase in bottom line of the bank It has four loyalty cards based on value of the customers such as Platinum Gold Silver and Bronze It helps in identifying the most valuable customers and plans the different offers schemes and services as per their needs and preferences
Data Warehouse and Data Mining
The Data warehouse is the core of any decision support system and hence of the CRM In implementing its Data Warehouse Bank of Baroda has selected an incremental approach where the development of information systems is integrated with the business strategy Instead of developing a complete design of a corporate Data Warehouse before implementing it the bank has decided to develop a portion of the Data Warehouse to be used for customer relationship management and for the production of accurate and consistent management reports Here the bank is not concerned with the latter goal but are concentrating on the former
The Data Warehouse has been designed according to the IBM BDW (Banking Data Warehouse) model that has been developed as a consequence of the collaboration between IBM and many banking customers The model is currently being used by 400 banks worldwide Bank of Baroda Data Warehouse is regularly populated both from operational systems and from intermediate sources obtained by partial pre-processing of the same raw data
CRM Practices from Customer Perspective
Less than 1 Year8
1-2 yr16
2-3 yr283-4 yr
16
more than 4 year32
Since when you are having an ac in your current bank
The above graph shows that 32 of total respondents are having their ac with Bank of Baroda for more than 4 years 28 are for 2-3 years and 16 for both 1-2 year and 3-4 years Thus it shows that Bank of Baroda is doing well and is able to retain its customer through its various attractive services
Saving Ac 39
Fixed Deposit 13
Credit card 22
Loan5
Current Ac 6
Internet banking 11
Demat Ac 5
Please tick the services you avail of your current bank
We can infer from this figure that a large no of 39 respondents are having the core facility of the bank ie saving ac and 22 are also using credit card of the bank All the other facility such as demat ac current ac loan and internet banking is being used by very small portion of respondents of 5 6 5
and 11 respectively A drawback can be easily identified that none of the respondents are using mobile banking facility thus Bank of Baroda should come up with many attracting features to encourage mobile banking
Loan
ing
Bank A
c
ATM se
rvice
s
Inte
rnet
ban
king
Mobile
ban
king
Credit
card
Demat
facil
ity
Lock
er fa
cility0
2
4
6
8
10
12
14
Please rate the following services of your current bank from 1 to 5 (Least to Most)
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but Bank of Baroda is doing well in this category thus it should be strengthening this facility and should make available to large customers Internet banking mobile banking and demat ac are rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied16
Satisfied68
Average4
Dissatisfied12
Please rate your satisfaction level with your current bank
The most important aspect for any organisation is to be rated high on satisfaction level by its customers Here the graph reflects that 68 of respondents are satisfied with Bank of Baroda and even 16 are highly satisfied Only 12 are dissatisfied and the best part is that none of the respondents felt highly dissatisfied with the services of the bank Thus company should also focus on this 12 dissatisfied because dissatisfaction leads to increase in dissatisfied customers
Yes56
No44
Do you have any complaints regarding your bank
It can be clearly see that 56 of respondents do have complaints regarding bank besides they are satisfied with bank and only 44 feels that they would not complain regarding services of the bank It generally happens when customers do have complaints and do not want to switch to other service provider due to their loyalty towards the bank They want to stay with the bank and desire to get resolution to their problems Therefore Bank of Baroda should effective handle the complaints of its customers to make them satisfied and un-complained It should also provide some convenient complaint system and effective resolution of those complaints
Rude behavior of employee13
Unresponsiveness of employee
21
Delay in service delivery
31
Non-upgraded services4
Disruption in service9
Wrong transaction3
Insecure services (mobile in-ternet banking)
19
Please tick the area where you have complaints
The above areas are the general area of complaints by many customers Here 31 of the respondents believe that they do not get their service on time and there happens delays in delivery of services that leads to high waiting time for customers Waiting time is always unproductive for customers as well as bank because it is also loss of opportunity and may also lead to switching of customers to competitors Among all the respondents 21 feels that the employees of the bank do not proactively response their queries and complaints and 13 of respondents have also experienced that employees were rude to them while interacting These two aspects are related to behavior of employees that may influence a customer to be loyal and may also spoil the long term relationship with the bank in a while Thus the bank should conduct some soft skill training to make the employees behave with customers in a good manner Moreover 19 responses were about insecurity in digital banking such as internet and mobile banking and that is why most customers do not use these facilities Thus Bank of Baroda should come up with good secure system and ensure the security and should convey the same to its customers effectively in taking their confidence
yes68
no28
not sure4
Do you feel that your complaints are resolved effectively
The above graph shows the effective handling of customers by Bank of Baroda It is able to make 68 of respondents feel that their complaints were resolved effectively and this may be the reason of high no of respondents are satisfied with the bank There is still need of work to be done to make those 28 respondents happy with the resolution provided to them on their complaints
Strongly agree52
Agree32
Disagree12
Strongly disagree4
You were satisfied with resolution provided on your previous complaints
This graph shows the outcome of the previous question where 52 of respondents strongly agree that they were satisfied with resolution on their complaints Moreover 32 respondents do agree with the above statement that implies that they are satisfied with the resolution provided to them But 12 of respondents also disagree and 4 of respondents even strongly disagree that they were given proper resolution to their problems Thus Bank of Baroda should focus on effective complaints handling by soft spoken experienced and helpful employees
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
CRM Practices in Bank of Baroda
Technology-based CRM
Technology plays the role of enabler in CRM deployment and allows Bank of Baroda to achieve greater customization and better service at lower cost that helps in better customer identification and fast and convenience services to its customers
Customer Loyalty Programs
Bank of Baroda has an aim to be a customer centric organisation and build a favorable and long term relationships with its customers Loyalty has both an attitudinal and behavioral dimensions to adjudge the customers based on their value and attachment with the bank Behavioral loyalty will include examples like maintaining long term relationship with bank word of mouth etc while attitudinal loyalty will comprise examples like trust or emotional attachment Further behavioral loyalty does not necessarily reflect attitudinal loyalty thus Bank of Baroda focuses on attitudinal loyalty through its various loyalty programs marketing communications to emotional touch the target customers because loyalty leads to more business and increase in bottom line of the bank It has four loyalty cards based on value of the customers such as Platinum Gold Silver and Bronze It helps in identifying the most valuable customers and plans the different offers schemes and services as per their needs and preferences
Data Warehouse and Data Mining
The Data warehouse is the core of any decision support system and hence of the CRM In implementing its Data Warehouse Bank of Baroda has selected an incremental approach where the development of information systems is integrated with the business strategy Instead of developing a complete design of a corporate Data Warehouse before implementing it the bank has decided to develop a portion of the Data Warehouse to be used for customer relationship management and for the production of accurate and consistent management reports Here the bank is not concerned with the latter goal but are concentrating on the former
The Data Warehouse has been designed according to the IBM BDW (Banking Data Warehouse) model that has been developed as a consequence of the collaboration between IBM and many banking customers The model is currently being used by 400 banks worldwide Bank of Baroda Data Warehouse is regularly populated both from operational systems and from intermediate sources obtained by partial pre-processing of the same raw data
CRM Practices from Customer Perspective
Less than 1 Year8
1-2 yr16
2-3 yr283-4 yr
16
more than 4 year32
Since when you are having an ac in your current bank
The above graph shows that 32 of total respondents are having their ac with Bank of Baroda for more than 4 years 28 are for 2-3 years and 16 for both 1-2 year and 3-4 years Thus it shows that Bank of Baroda is doing well and is able to retain its customer through its various attractive services
Saving Ac 39
Fixed Deposit 13
Credit card 22
Loan5
Current Ac 6
Internet banking 11
Demat Ac 5
Please tick the services you avail of your current bank
We can infer from this figure that a large no of 39 respondents are having the core facility of the bank ie saving ac and 22 are also using credit card of the bank All the other facility such as demat ac current ac loan and internet banking is being used by very small portion of respondents of 5 6 5
and 11 respectively A drawback can be easily identified that none of the respondents are using mobile banking facility thus Bank of Baroda should come up with many attracting features to encourage mobile banking
Loan
ing
Bank A
c
ATM se
rvice
s
Inte
rnet
ban
king
Mobile
ban
king
Credit
card
Demat
facil
ity
Lock
er fa
cility0
2
4
6
8
10
12
14
Please rate the following services of your current bank from 1 to 5 (Least to Most)
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but Bank of Baroda is doing well in this category thus it should be strengthening this facility and should make available to large customers Internet banking mobile banking and demat ac are rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied16
Satisfied68
Average4
Dissatisfied12
Please rate your satisfaction level with your current bank
The most important aspect for any organisation is to be rated high on satisfaction level by its customers Here the graph reflects that 68 of respondents are satisfied with Bank of Baroda and even 16 are highly satisfied Only 12 are dissatisfied and the best part is that none of the respondents felt highly dissatisfied with the services of the bank Thus company should also focus on this 12 dissatisfied because dissatisfaction leads to increase in dissatisfied customers
Yes56
No44
Do you have any complaints regarding your bank
It can be clearly see that 56 of respondents do have complaints regarding bank besides they are satisfied with bank and only 44 feels that they would not complain regarding services of the bank It generally happens when customers do have complaints and do not want to switch to other service provider due to their loyalty towards the bank They want to stay with the bank and desire to get resolution to their problems Therefore Bank of Baroda should effective handle the complaints of its customers to make them satisfied and un-complained It should also provide some convenient complaint system and effective resolution of those complaints
Rude behavior of employee13
Unresponsiveness of employee
21
Delay in service delivery
31
Non-upgraded services4
Disruption in service9
Wrong transaction3
Insecure services (mobile in-ternet banking)
19
Please tick the area where you have complaints
The above areas are the general area of complaints by many customers Here 31 of the respondents believe that they do not get their service on time and there happens delays in delivery of services that leads to high waiting time for customers Waiting time is always unproductive for customers as well as bank because it is also loss of opportunity and may also lead to switching of customers to competitors Among all the respondents 21 feels that the employees of the bank do not proactively response their queries and complaints and 13 of respondents have also experienced that employees were rude to them while interacting These two aspects are related to behavior of employees that may influence a customer to be loyal and may also spoil the long term relationship with the bank in a while Thus the bank should conduct some soft skill training to make the employees behave with customers in a good manner Moreover 19 responses were about insecurity in digital banking such as internet and mobile banking and that is why most customers do not use these facilities Thus Bank of Baroda should come up with good secure system and ensure the security and should convey the same to its customers effectively in taking their confidence
yes68
no28
not sure4
Do you feel that your complaints are resolved effectively
The above graph shows the effective handling of customers by Bank of Baroda It is able to make 68 of respondents feel that their complaints were resolved effectively and this may be the reason of high no of respondents are satisfied with the bank There is still need of work to be done to make those 28 respondents happy with the resolution provided to them on their complaints
Strongly agree52
Agree32
Disagree12
Strongly disagree4
You were satisfied with resolution provided on your previous complaints
This graph shows the outcome of the previous question where 52 of respondents strongly agree that they were satisfied with resolution on their complaints Moreover 32 respondents do agree with the above statement that implies that they are satisfied with the resolution provided to them But 12 of respondents also disagree and 4 of respondents even strongly disagree that they were given proper resolution to their problems Thus Bank of Baroda should focus on effective complaints handling by soft spoken experienced and helpful employees
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
CRM Practices from Customer Perspective
Less than 1 Year8
1-2 yr16
2-3 yr283-4 yr
16
more than 4 year32
Since when you are having an ac in your current bank
The above graph shows that 32 of total respondents are having their ac with Bank of Baroda for more than 4 years 28 are for 2-3 years and 16 for both 1-2 year and 3-4 years Thus it shows that Bank of Baroda is doing well and is able to retain its customer through its various attractive services
Saving Ac 39
Fixed Deposit 13
Credit card 22
Loan5
Current Ac 6
Internet banking 11
Demat Ac 5
Please tick the services you avail of your current bank
We can infer from this figure that a large no of 39 respondents are having the core facility of the bank ie saving ac and 22 are also using credit card of the bank All the other facility such as demat ac current ac loan and internet banking is being used by very small portion of respondents of 5 6 5
and 11 respectively A drawback can be easily identified that none of the respondents are using mobile banking facility thus Bank of Baroda should come up with many attracting features to encourage mobile banking
Loan
ing
Bank A
c
ATM se
rvice
s
Inte
rnet
ban
king
Mobile
ban
king
Credit
card
Demat
facil
ity
Lock
er fa
cility0
2
4
6
8
10
12
14
Please rate the following services of your current bank from 1 to 5 (Least to Most)
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but Bank of Baroda is doing well in this category thus it should be strengthening this facility and should make available to large customers Internet banking mobile banking and demat ac are rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied16
Satisfied68
Average4
Dissatisfied12
Please rate your satisfaction level with your current bank
The most important aspect for any organisation is to be rated high on satisfaction level by its customers Here the graph reflects that 68 of respondents are satisfied with Bank of Baroda and even 16 are highly satisfied Only 12 are dissatisfied and the best part is that none of the respondents felt highly dissatisfied with the services of the bank Thus company should also focus on this 12 dissatisfied because dissatisfaction leads to increase in dissatisfied customers
Yes56
No44
Do you have any complaints regarding your bank
It can be clearly see that 56 of respondents do have complaints regarding bank besides they are satisfied with bank and only 44 feels that they would not complain regarding services of the bank It generally happens when customers do have complaints and do not want to switch to other service provider due to their loyalty towards the bank They want to stay with the bank and desire to get resolution to their problems Therefore Bank of Baroda should effective handle the complaints of its customers to make them satisfied and un-complained It should also provide some convenient complaint system and effective resolution of those complaints
Rude behavior of employee13
Unresponsiveness of employee
21
Delay in service delivery
31
Non-upgraded services4
Disruption in service9
Wrong transaction3
Insecure services (mobile in-ternet banking)
19
Please tick the area where you have complaints
The above areas are the general area of complaints by many customers Here 31 of the respondents believe that they do not get their service on time and there happens delays in delivery of services that leads to high waiting time for customers Waiting time is always unproductive for customers as well as bank because it is also loss of opportunity and may also lead to switching of customers to competitors Among all the respondents 21 feels that the employees of the bank do not proactively response their queries and complaints and 13 of respondents have also experienced that employees were rude to them while interacting These two aspects are related to behavior of employees that may influence a customer to be loyal and may also spoil the long term relationship with the bank in a while Thus the bank should conduct some soft skill training to make the employees behave with customers in a good manner Moreover 19 responses were about insecurity in digital banking such as internet and mobile banking and that is why most customers do not use these facilities Thus Bank of Baroda should come up with good secure system and ensure the security and should convey the same to its customers effectively in taking their confidence
yes68
no28
not sure4
Do you feel that your complaints are resolved effectively
The above graph shows the effective handling of customers by Bank of Baroda It is able to make 68 of respondents feel that their complaints were resolved effectively and this may be the reason of high no of respondents are satisfied with the bank There is still need of work to be done to make those 28 respondents happy with the resolution provided to them on their complaints
Strongly agree52
Agree32
Disagree12
Strongly disagree4
You were satisfied with resolution provided on your previous complaints
This graph shows the outcome of the previous question where 52 of respondents strongly agree that they were satisfied with resolution on their complaints Moreover 32 respondents do agree with the above statement that implies that they are satisfied with the resolution provided to them But 12 of respondents also disagree and 4 of respondents even strongly disagree that they were given proper resolution to their problems Thus Bank of Baroda should focus on effective complaints handling by soft spoken experienced and helpful employees
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
and 11 respectively A drawback can be easily identified that none of the respondents are using mobile banking facility thus Bank of Baroda should come up with many attracting features to encourage mobile banking
Loan
ing
Bank A
c
ATM se
rvice
s
Inte
rnet
ban
king
Mobile
ban
king
Credit
card
Demat
facil
ity
Lock
er fa
cility0
2
4
6
8
10
12
14
Please rate the following services of your current bank from 1 to 5 (Least to Most)
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but Bank of Baroda is doing well in this category thus it should be strengthening this facility and should make available to large customers Internet banking mobile banking and demat ac are rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied16
Satisfied68
Average4
Dissatisfied12
Please rate your satisfaction level with your current bank
The most important aspect for any organisation is to be rated high on satisfaction level by its customers Here the graph reflects that 68 of respondents are satisfied with Bank of Baroda and even 16 are highly satisfied Only 12 are dissatisfied and the best part is that none of the respondents felt highly dissatisfied with the services of the bank Thus company should also focus on this 12 dissatisfied because dissatisfaction leads to increase in dissatisfied customers
Yes56
No44
Do you have any complaints regarding your bank
It can be clearly see that 56 of respondents do have complaints regarding bank besides they are satisfied with bank and only 44 feels that they would not complain regarding services of the bank It generally happens when customers do have complaints and do not want to switch to other service provider due to their loyalty towards the bank They want to stay with the bank and desire to get resolution to their problems Therefore Bank of Baroda should effective handle the complaints of its customers to make them satisfied and un-complained It should also provide some convenient complaint system and effective resolution of those complaints
Rude behavior of employee13
Unresponsiveness of employee
21
Delay in service delivery
31
Non-upgraded services4
Disruption in service9
Wrong transaction3
Insecure services (mobile in-ternet banking)
19
Please tick the area where you have complaints
The above areas are the general area of complaints by many customers Here 31 of the respondents believe that they do not get their service on time and there happens delays in delivery of services that leads to high waiting time for customers Waiting time is always unproductive for customers as well as bank because it is also loss of opportunity and may also lead to switching of customers to competitors Among all the respondents 21 feels that the employees of the bank do not proactively response their queries and complaints and 13 of respondents have also experienced that employees were rude to them while interacting These two aspects are related to behavior of employees that may influence a customer to be loyal and may also spoil the long term relationship with the bank in a while Thus the bank should conduct some soft skill training to make the employees behave with customers in a good manner Moreover 19 responses were about insecurity in digital banking such as internet and mobile banking and that is why most customers do not use these facilities Thus Bank of Baroda should come up with good secure system and ensure the security and should convey the same to its customers effectively in taking their confidence
yes68
no28
not sure4
Do you feel that your complaints are resolved effectively
The above graph shows the effective handling of customers by Bank of Baroda It is able to make 68 of respondents feel that their complaints were resolved effectively and this may be the reason of high no of respondents are satisfied with the bank There is still need of work to be done to make those 28 respondents happy with the resolution provided to them on their complaints
Strongly agree52
Agree32
Disagree12
Strongly disagree4
You were satisfied with resolution provided on your previous complaints
This graph shows the outcome of the previous question where 52 of respondents strongly agree that they were satisfied with resolution on their complaints Moreover 32 respondents do agree with the above statement that implies that they are satisfied with the resolution provided to them But 12 of respondents also disagree and 4 of respondents even strongly disagree that they were given proper resolution to their problems Thus Bank of Baroda should focus on effective complaints handling by soft spoken experienced and helpful employees
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Highly satisfied16
Satisfied68
Average4
Dissatisfied12
Please rate your satisfaction level with your current bank
The most important aspect for any organisation is to be rated high on satisfaction level by its customers Here the graph reflects that 68 of respondents are satisfied with Bank of Baroda and even 16 are highly satisfied Only 12 are dissatisfied and the best part is that none of the respondents felt highly dissatisfied with the services of the bank Thus company should also focus on this 12 dissatisfied because dissatisfaction leads to increase in dissatisfied customers
Yes56
No44
Do you have any complaints regarding your bank
It can be clearly see that 56 of respondents do have complaints regarding bank besides they are satisfied with bank and only 44 feels that they would not complain regarding services of the bank It generally happens when customers do have complaints and do not want to switch to other service provider due to their loyalty towards the bank They want to stay with the bank and desire to get resolution to their problems Therefore Bank of Baroda should effective handle the complaints of its customers to make them satisfied and un-complained It should also provide some convenient complaint system and effective resolution of those complaints
Rude behavior of employee13
Unresponsiveness of employee
21
Delay in service delivery
31
Non-upgraded services4
Disruption in service9
Wrong transaction3
Insecure services (mobile in-ternet banking)
19
Please tick the area where you have complaints
The above areas are the general area of complaints by many customers Here 31 of the respondents believe that they do not get their service on time and there happens delays in delivery of services that leads to high waiting time for customers Waiting time is always unproductive for customers as well as bank because it is also loss of opportunity and may also lead to switching of customers to competitors Among all the respondents 21 feels that the employees of the bank do not proactively response their queries and complaints and 13 of respondents have also experienced that employees were rude to them while interacting These two aspects are related to behavior of employees that may influence a customer to be loyal and may also spoil the long term relationship with the bank in a while Thus the bank should conduct some soft skill training to make the employees behave with customers in a good manner Moreover 19 responses were about insecurity in digital banking such as internet and mobile banking and that is why most customers do not use these facilities Thus Bank of Baroda should come up with good secure system and ensure the security and should convey the same to its customers effectively in taking their confidence
yes68
no28
not sure4
Do you feel that your complaints are resolved effectively
The above graph shows the effective handling of customers by Bank of Baroda It is able to make 68 of respondents feel that their complaints were resolved effectively and this may be the reason of high no of respondents are satisfied with the bank There is still need of work to be done to make those 28 respondents happy with the resolution provided to them on their complaints
Strongly agree52
Agree32
Disagree12
Strongly disagree4
You were satisfied with resolution provided on your previous complaints
This graph shows the outcome of the previous question where 52 of respondents strongly agree that they were satisfied with resolution on their complaints Moreover 32 respondents do agree with the above statement that implies that they are satisfied with the resolution provided to them But 12 of respondents also disagree and 4 of respondents even strongly disagree that they were given proper resolution to their problems Thus Bank of Baroda should focus on effective complaints handling by soft spoken experienced and helpful employees
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Yes56
No44
Do you have any complaints regarding your bank
It can be clearly see that 56 of respondents do have complaints regarding bank besides they are satisfied with bank and only 44 feels that they would not complain regarding services of the bank It generally happens when customers do have complaints and do not want to switch to other service provider due to their loyalty towards the bank They want to stay with the bank and desire to get resolution to their problems Therefore Bank of Baroda should effective handle the complaints of its customers to make them satisfied and un-complained It should also provide some convenient complaint system and effective resolution of those complaints
Rude behavior of employee13
Unresponsiveness of employee
21
Delay in service delivery
31
Non-upgraded services4
Disruption in service9
Wrong transaction3
Insecure services (mobile in-ternet banking)
19
Please tick the area where you have complaints
The above areas are the general area of complaints by many customers Here 31 of the respondents believe that they do not get their service on time and there happens delays in delivery of services that leads to high waiting time for customers Waiting time is always unproductive for customers as well as bank because it is also loss of opportunity and may also lead to switching of customers to competitors Among all the respondents 21 feels that the employees of the bank do not proactively response their queries and complaints and 13 of respondents have also experienced that employees were rude to them while interacting These two aspects are related to behavior of employees that may influence a customer to be loyal and may also spoil the long term relationship with the bank in a while Thus the bank should conduct some soft skill training to make the employees behave with customers in a good manner Moreover 19 responses were about insecurity in digital banking such as internet and mobile banking and that is why most customers do not use these facilities Thus Bank of Baroda should come up with good secure system and ensure the security and should convey the same to its customers effectively in taking their confidence
yes68
no28
not sure4
Do you feel that your complaints are resolved effectively
The above graph shows the effective handling of customers by Bank of Baroda It is able to make 68 of respondents feel that their complaints were resolved effectively and this may be the reason of high no of respondents are satisfied with the bank There is still need of work to be done to make those 28 respondents happy with the resolution provided to them on their complaints
Strongly agree52
Agree32
Disagree12
Strongly disagree4
You were satisfied with resolution provided on your previous complaints
This graph shows the outcome of the previous question where 52 of respondents strongly agree that they were satisfied with resolution on their complaints Moreover 32 respondents do agree with the above statement that implies that they are satisfied with the resolution provided to them But 12 of respondents also disagree and 4 of respondents even strongly disagree that they were given proper resolution to their problems Thus Bank of Baroda should focus on effective complaints handling by soft spoken experienced and helpful employees
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Rude behavior of employee13
Unresponsiveness of employee
21
Delay in service delivery
31
Non-upgraded services4
Disruption in service9
Wrong transaction3
Insecure services (mobile in-ternet banking)
19
Please tick the area where you have complaints
The above areas are the general area of complaints by many customers Here 31 of the respondents believe that they do not get their service on time and there happens delays in delivery of services that leads to high waiting time for customers Waiting time is always unproductive for customers as well as bank because it is also loss of opportunity and may also lead to switching of customers to competitors Among all the respondents 21 feels that the employees of the bank do not proactively response their queries and complaints and 13 of respondents have also experienced that employees were rude to them while interacting These two aspects are related to behavior of employees that may influence a customer to be loyal and may also spoil the long term relationship with the bank in a while Thus the bank should conduct some soft skill training to make the employees behave with customers in a good manner Moreover 19 responses were about insecurity in digital banking such as internet and mobile banking and that is why most customers do not use these facilities Thus Bank of Baroda should come up with good secure system and ensure the security and should convey the same to its customers effectively in taking their confidence
yes68
no28
not sure4
Do you feel that your complaints are resolved effectively
The above graph shows the effective handling of customers by Bank of Baroda It is able to make 68 of respondents feel that their complaints were resolved effectively and this may be the reason of high no of respondents are satisfied with the bank There is still need of work to be done to make those 28 respondents happy with the resolution provided to them on their complaints
Strongly agree52
Agree32
Disagree12
Strongly disagree4
You were satisfied with resolution provided on your previous complaints
This graph shows the outcome of the previous question where 52 of respondents strongly agree that they were satisfied with resolution on their complaints Moreover 32 respondents do agree with the above statement that implies that they are satisfied with the resolution provided to them But 12 of respondents also disagree and 4 of respondents even strongly disagree that they were given proper resolution to their problems Thus Bank of Baroda should focus on effective complaints handling by soft spoken experienced and helpful employees
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
yes68
no28
not sure4
Do you feel that your complaints are resolved effectively
The above graph shows the effective handling of customers by Bank of Baroda It is able to make 68 of respondents feel that their complaints were resolved effectively and this may be the reason of high no of respondents are satisfied with the bank There is still need of work to be done to make those 28 respondents happy with the resolution provided to them on their complaints
Strongly agree52
Agree32
Disagree12
Strongly disagree4
You were satisfied with resolution provided on your previous complaints
This graph shows the outcome of the previous question where 52 of respondents strongly agree that they were satisfied with resolution on their complaints Moreover 32 respondents do agree with the above statement that implies that they are satisfied with the resolution provided to them But 12 of respondents also disagree and 4 of respondents even strongly disagree that they were given proper resolution to their problems Thus Bank of Baroda should focus on effective complaints handling by soft spoken experienced and helpful employees
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Excellent 12
Good28
Average8
Bad48
Worst4
How would you rate the behavior of employees in your current bank
The graph shows the employees behavior that impacts a lot on business of any organisation It can be inferred from the data analysis that Bank of Baroda is doing very well in terms of services but they value is getting destructed by its employees unproductive behavior here 48 of the respondents feel that the behavior of employees was very bad and 4 also feel that they were worst On the other hand 12 of respondents have selected excellent and good by 28 of participants on the behavior issue of Bank of Baroda Thus there is emergence to work on employee behavior if the bank wants to improve in the future It should invest in training program of its employees and make them know the worth of customers
Yes56
no44
Do you think that you are given personalized treatment by your bank
The above graph is to chart the differentiation between normal and valuable customers It is good for Bank of Baroda that 56 of respondents think that they are treated in personalized way by the bank and they are given treatment as per their worth in the bank
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
no64
bronze16
silver8
gold12
Do you use any loyalty schemes of the bank if yes then please mention
The above figure is to show the loyalty schemes avail by various customers here 64 of respondents do not avail any loyalty scheme and bronze is 16 silver is 8 and gold is 12 availed by the respondents But none of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
yes72
no20
may be8
Would you like to use more products and services of your current bank in future
The graph is to show the potential customers of the bank that in future the bank can cross sell or up sell to these customers It is very good for the bank that 72 of the respondents would like to avail more products and services of Bank of Baroda Thus the bank should come with more innovative attractive and affordable products and services in future to target these potential cum loyal customers
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Definitely60
yes24
no12
never4
Would you like to recommend this bank to your family amp friends
The most important and pleasing graph of this study is to see whether customers are as satisfied to recommend this bank to someone else It shows that 60 of the respondents would definitely recommend this bank to the known Among the whole respondents only 4 would never recommend that shows their dissatisfaction and 12 said directly no Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
ING Vysya Bank is a Bangalore-based retail commercialwholesale and private bank formed from the 2002 merger of the Dutch ING Group and Indian Vysya Bank following a seven-year strategic alliance between Vysya Bank and now-ING Group subsidiary Belgian Bank Bruxelles Lambert This merger marks the first between an Indian bank and a foreign bank
ING Group the highest-ranking institutional shareholder currently holds a 44 equity stake in ING Vysya Bank followed by Aberdeen Asset Management private equity firm ChrysCapital Morgan Stanley and Citigroup respectively ING Group also maintains a presence in India through shareholding in ING Vysya Life Insurance Company and ING Investment Management (India)
Founded in 1930 Vysya Bank was formally incorporated in the city of Bangalore Karnataka The state of Karnataka is known as the cradle of Indian banking due to the regions bygone banking relationship with several European East India Companies during the 17th 18th and 19th centuries Seven of the countrys leading banks (Canara Bank Syndicate Bank Corporation Bank Vijaya Bank Karnataka Bank State Bank of Mysore and ING Vysya Bank) were originally established in Karnataka
In 1995 Vysya Bank entered into a long-term strategic alliance with Belgian bank Bank Bruxelles Lambert (BBL) Following this agreement the Vysya Bank engaged KPMC Peat Marwick for assistance in re-engineering its business processes in preparation for globalization In 1996 an international investment banking joint venture (JV) with MC Securities (London) an investment banking subsidiary of BBL was formally established
In 1998 the ING Group acquired BBL and all its contractual and JV interests in Vysya Bank In 1999 Vysya Bank joined the ING Group in co-marketingdistribution of life insurance products in India Vysya Bank also acquired a 26 equity stake in the ING Asset Management Company In 2000 Vysya Bank ING Insurance and the Damani Group formed a life insurance JV this innovative collaboration marks the first bank assurance venture in India
ING Vysya Bank has over 80 years of operating experience in the bankingfinancial services amp insurance sector and currently serves over 2 million Indian consumers The bank offers an entire range of financial products and services organized under three strategic lines of business retail private and wholesale banking
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
CRM practices in ING Vysya Bank
IBM to implement CRM solution
IBM along with its business partners Avaya GlobalConnect and Talisma has implemented Customer Service Line a CRM solution for ING Vysya Bank The solution ensures 24x7 availability of phone banking service to its customers IBM Global Services provided business consultancy and lead managed this CRM project and also integrated it in addition to setting up the LAN and IT infrastructure for this project The ING Vysya Customer Service Line provides full service phone banking solution to its customers
BPR Enabled
ING Vysya Bank launched the customer first initiative that would use IT and BPR creatively towards the objective of making the bank easy to deal with for customers It would help in ndash
Reengineering the project for account opening and account maintenance
The service request fulfillment cycle has reduced times by more than 90 making the customers very happy
By making the bank easier for customers to interact with helped in saving Rs25 crore
lsquoEasy to Deal Withrsquo
Financial institutions are perceived to be opaque and inwardly focused And ING Vysya Banks worldwide market research suggested the same customers do not feel in control of their money when dealing with financial services companiesING Vysya Bank decided to launch the customer first initiative that would use technology and BPR creatively towards the objective of making the bank easy to deal with for customersUsing pre-generated kits for accessing telephone banking and ATM including instantaneous replacement of lost cards was the first step Stocking pre-generated inventory of accounts and access devices like PINs and ATM cards at all customer touch-points took the bank closer to its aimThe bank focus was on pre-processing all operations and technology elements associated with these processes so that the only task would be to activate the account and channels as soon as the customers request is received
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
However there were some roadblocks in the implementation From a technology perspective all customers facing core banking processes relevant for account opening and account maintenance had to be re-engineered for the project This was very challenging users were comfortable with the existing processes and didnt want to change the way they work Initially there was a significant disconnect between the people who designed the new processes and people involved in user acceptance testing To tackle that additional training on the current and modified business processes with inputs on the benefits of the re-engineered process was provided to the users
CRM Practices from Customer perspective
Less than 1 Year4
1-2 yr20
2-3 yr36
3-4 yr24
more than 4 yr16
Since when you are having an ac in your current bank
From this chart we can see that 16 of total customer are having Ing Vysya bank account from more than 4 years 24 customers are using its services from 3 to 4 years 36 customers are using from 2 to 3 years 20 customers using from 1to 2 years and 4 are having its bank account from less than 1 year 16 customer are more loyal to the bank because they have an account from more than 4 years while 20 customers having account from 1 to 2 years it shows that company is able to attract new customers as well
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Saving Ac 34
Fixed Deposit 7
Credit card 26
Loan9
Current Ac 1
Internet banking 13
Demat Ac 7
Mobile banking 1
Please tick the services you avail of your current bank
This chart shows that 34 respondents having saving account 26 are using credit card facility 9 having loan account 2 having current account 13 using internet banking facility and 7 having demat account Company has more customer in saving bank account it shows that people prefer it saving bank account than any other account or facility
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Please rate the following services of your current bank from 1 to 5 (Least to Most)
Loaning
Bank A
c
ATM se
rvices
Internet
bankin
g
Mobile ban
king
Credit c
ard
Demat
facilit
y
Locker fa
cility
0
2
4
6
8
10
12
14
54321
The above graph shows that ATM services credit card bank ac and specially locker facility is rated high most by large no of respondents Locker facility is generally not considered by most of the customers but ING Vysya Bank is doing well in this category thus it should be strengthening this facility and should make available to large customers Mobile banking and demat ac are loaning rated lower by many respondents thus company should be extending its strength to this new generation facilities
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Highly satisfied24
Satisfied40
Average12
Dissatisfied16
Highly dissatisfied8
Please rate your satisfaction level with your current bank
This chart shows that shows that 8 respondents are highly dissatisfied 24 are highly satisfied 12 respondents rated Ing facilities as average satisfaction16 are rated it as dissatisfied and 40 are satisfied with Ing Vysya Most of the respondent satisfied with Ing but it needs to improve and take measures to make dissatisfied customers to satisfy
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
yes36
no64
Do you have any complaints regarding your bank
The 64 respondents have not any complain with ING Vysya but 36 having complaints with this bank Company need to resolve their problems quickly it will help bank to make their customers loyal
Rude behavior of employee
31
Unresponsiveness of employee
15Delay in service delivery
8Non-upgraded services
3
Disruption in service8
Wrong transaction15
Insecure services (mobile in-ternet banking)
21
Please tick the area where you have complaints
This chart shows that 31 complaint people have complain about Rude behaviour of employees 20 have complain about insecure services 15 have wrong transaction complaints 8 have compliant of disrupt services 3 have No upgraded services 8
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
delay in services and 15 have complaints about unresponsiveness of employees Bank need to give training to their employee that they should not rudely behave with the customers
yes56
no32
not sure12
Do you feel that your complaints are resolved effectively
This chart shows that 56 respondents feel that their complaints were resolved effectively while 32 feel that their complaints did not resolved efficiently and 12 complaining respondents are not sure whether their complaints were resolved efficiently or not
Strongly agree44
Agree28
Canrsquot say 4
Disagree16
Strongly disagree8
You were satisfied with resolution provided on your previous complaints
This chart shows that 44 complaining respondents highly satisfied with resolution provided on their complaints 28 are just satisfied 8 are strongly disagree that they
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
were provided good resolution 16 are disagree and 4 are canrsquot say that They were satisfied with provided resolution or not Company need to provide good solution for 8 strongly disagree and 16 disagree respondents to make them loyal
Excellent 56
Good24
Average8
Worst12
How would you rate the behavior of employees in your current bank
From this chart we can see that 56 respondents Rate behaviour of the employees as excellence 12 rate worst 24 rated good while 0 respondents rated bad It means behaviour of the employees are good with the customers but it need to be improve to make more loyal customers
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Yes72
no28
Do you think that you are given personalized treatment by your bank
This chart shows that 72 respondents get personalized treatment means special treatment and 28 are not getting personalized treatment This dependent on the value of the customers for ING Vysya
no44
bronz16
silver8
gold24
platinum8
Do you use any loyalty schemes of the bank if yes then please men-tion
ING Vysya having some loyalty schemes like platinum gold silver bronze cards 16 respondents using bronze card loyalty scheme 24 using gold card 8 using silver card 8 using platinum card loyalty schemes while 44 respondents are not having any kind of loyalty card It is very good that bank has so many schemes and it also beneficial for the Bank
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
yes88
no8
may be4
Would you like to use more products and services of your current bank in future
This chart shows that 88 of the total respondents would like to use more products and services of ING Vysya in future 8 would not use more products in future while 4 may be use ING more products in future It is very good for company that their existing customers are ready to use its future product also
Definitely48
yes20
may be 8
no8
never16
Would you like to recommend this bank to your family amp friends
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
This chart shows that 48 respondents are definitely refer ING Vysya bank for their family and friends 8 are not recommending 20 are saying yes for recommendation 8 are not decided while 16 are never recommend ING Vysya bank to their family and friends The recommendation percentage is good itrsquos good for bank But there is also customers who do not like to recommend it means they are not fully satisfied with the bank Services So Bank needs to make satisfy them and try to win their recommendations
Conclusion
Although all banks recognize the need for CRM not every bank is implementing the complete CRM concept The way CRM has been implemented thus far seems to depend heavily on the current balance between the discretionary and advisory services that the bank providesCustomer Relationship Management is beneficial for all stakeholders customers employees and investors It is being used large or small banks in India as well as abroad Due to privatization deregulation and globalization competition has increased This has led in the intensive use of CRM
ING Vysya Bank has implemented CRM to some extent but still is on the initial stage It has invested a lot of money in implemented various IT based solution to make its banking operations more easy convenience for its customers but in terms of its customer dealing it needs to more to make its customers satisfied Its employees are coming out to be its strength where majority of respondents have responded excellent behaviour of the employees that is an edge over Bank of Baroda Moreover 44 respondents do strongly agree with the statement that implies that they are satisfied with the resolution provided to them But 16 of respondents also disagree and 8 of respondents even strongly disagree that they were given proper resolution to their problems Thus ING Vysya Bank should focus on effective complaints handling by soft spoken experienced and helpful employees
Bank of Baroda is more customer centric than ING Vysya Bank BOB has got more positive and favourable response from the respondents and specially in case of recommendation by customers to hisher family members where it has higher positive response Therefore the company should focus on improving the behavior its employees to convert these 12 and 4 respondents into satisfied customers that will not only give their future business to the bank but also do positive word of mouth that is the best communication tool used by any company None of the respondents use platinum card scheme Thus BOB should come up with many such loyalty schemes that help in identifying and retaining most valuable customers of the bank
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life
Recommendation to both banks to improve CRM
Both the banks need to understand the needs and demands of their target customers and then formulate their strategies and practices to serve them efficiently and effectivelyTechnological solutions are also compulsory but they must be user friendly To make CRM a successful story banks have to take some critical steps
ING Vysya Bank
1048698 Banks should recognize the diversity of experience and needs of different customers1048698 Banks need to develop the propositions both relevant and practical but not too complex1048698 Banks should get support from local media newspapers and magazines to build commitment and trust in the community and to reflect values and aspiration of local community in services and products1048698 Banks should sponsor different social and cultural activities of their stakeholders to build the mutual confidence and relationship1048698 Customer education programmes should be launched to improve understanding of bankrsquos procedures and decision making and increase comfort levels
Bank of Baroda
1048698 Banks should hire professional people from the local community they are trying to serve to improve understanding and performance also increased comfort levels and trust for customers Attractive salaries and befits can motivate employees to perform their duties well1048698 Bank should focus on measuring current business volumes in branchgeographic penetration to help predict future valuegrowth patterns in branch marketing research to ensure understanding of customersrsquo satisfaction levels service expectations customer loyalty etc and tracking the success of advertising and PR and transfer learning into future campaigns1048698 Measurement is a key to the understanding learning and improvement customer experience Banking sector management needs actively to articulate the need for an improved and consistent customer experience and branch mangers should localize this approach and coach their staff to deliver it1048698 Banks should use customer friendly technology ndash which their customer can use and brings value in their life