Customer service improvement strategies at CFC Stanbic Bank Kenya limited
Abstract
With the increasing competition that companies are facing today, rewards will accrue to those
who can read precisely what consumers wants by co
ntinuously scanning the environment and
delivering the greatest value to customers. This study sought to establish the customer service
improvement strategies at CfCStanbic Bank Kenya Limited. The Bank had faced many service
delivery challenges following t
he merger of CFC Bank and Stanbic Bank of Kenya Limited.
They two banks had a different setting, management and organization culture. The study applied
case study research design where information was only collected from the senior management
team since th
ey are involved in strategy formulation and implementation. The study used both
primary and secondary data. Primary data was collected using interview guide while secondary
data was collected using desk research from publications at the Bank. The study use
d content
analysis and presented the findings in prose format.
From the research findings,
customer
improvement strategies used by the Bank to satisfy and retain customers included harmonization
of operating systems and bank account systems; harmonization
of ATM networks and by
becoming more proactive and sensitive to customer issues which enabled it respond to customer
needs on time thus attracting more and increasing the satisfaction level of the existing ones. The
Bank engaged in intense research and de
velopment which led to the development of new
banking services with features a customized to certain market segment to appreciate the status of
customers. The Bank used market segmentation and targeting strategies to improve customer
service and satisfacti
on. The bank invested in employee capacity building and culture
management to build a service culture among its employees.
The study concluded that the
merger of CFC Bank and Stanbic bank to form CFCStanbic Bank presented several service
challenges to the
Bank. To help deliver services efficiently to customers, the Bank invested in
Customer improvement to boost its customer satisfaction and loyalty. The Bank faced employee
culture and orientation, system compatibility and change agents inadequacy
Citation
Buchichi , A. N. (2013). Customer service improvement strategies at CFCS tanbic B ank Kenya L imited . International Journal of Social Sciences and Project Planning Management, 1 (1), 1 9 - 40Publisher
University of Nairobi