Customer Service in Retail banks

Clarifying customer satisfaction in Retail branches.BY: MIGUEL, RENNY, YESENIA, AMBER, RUDDYNovember 23, 20141 Bank branches consist ofA bank branch employs bankers, tellers, managers, and advisors Each helps with deposits, withdraws, payments, account openings, etc. The branch team not only assists customers, but also creates memorable experiences to build relationships and loyalty.

2Chase contacts random customers who recently visited a branch to participate in satisfaction surveys. The scores are shared with the branch teams, but customer and employee information is always anonymous. Some branches scored poorly.

3How can Chase improve their customer service ratings?4

Pictures provided by RudyWe analyzed the feedback from the customer satisfaction surveys Chase conducted to find common themes related to exceptional or poor service.We evaluated the way Chase management uses the survey feedback to create actionable change.Our team members also visited various banks to conduct our own analysis. We filled out a survey for each bank to document exceptional service and opportunities for improvement.Listen to the voice of the customer.5Research: Surveys performed by our teamSurvey Questionnaire for in-person branch experience:

Were they kind, courteous and professional?Did they call you by your name and use their own name?Did they answer all your questions and get transactions done in a timely manner?Would my experience bring me back to this location?Personal observations: Did anything about the service stand out, good or bad?

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We saw the following themes in surveys:Negatives:Transaction took too much time. Employee was robotic, uninterested, or rude.Employee did not meet the customers immediate need but directed them to call a number for assistance.Positives:Professional: Introduced themselves by name. Went above and beyond to direct a customer if they seemed unsure of where to go. Resolved request on location.Personable: Use customers name, ask about their day, or try to learn something about them.Efficient: Greeted upon arrival. Transaction completed quickly.

7Our recommendations Employees should.

Greet customers upon entering the branch and direct them if needed.Smile when approaching customers and have a positive attitude. Introduce yourself.Treat customers as if they are family and always use their names. Show them their time is important: work with a sense of urgency.Meet their needs on location. Get a manager if needed.Thank them for coming.

8Our recommendationsManagers should.

Track survey responses to individual employees in order to provide specific, meaningful and actionable feedback.Set better examples of what they expect from their employees. Jump in immediately if the branch is busy to assist.In addition to team bonuses that are currently used, implement individual bonuses for exceptional customer feedback.Hire or have a more diverse working team in each branch in order to avoid customer barriers and be able to communicate with each customer.

9Effects of Customer Service ImprovementWhat exactly does excellent customer service provide? It provides loyal customers that keep coming back. When you have loyal customers it benefits both the customers themselves and the branch. This can cause growth for the branch which helps them meet their P&L requirements and even exceed them. If they exceed requirements, the team is rewarded.

10Results of Better Customer serviceWhen our recommendations implemented, most branches received improved customer service reviews over various weeks. The branches that had the best customer service reviews were also in the top performing branches for those same weeks. While they were not perfect, it was clear to see that the improvements helped each location successfully bring their performance up.11References-Surveys performed by team, 11/2014-12