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 continuously scanning the environment and delivering the greatest value to customers. This study sought to establish the customer service improvement strategies at CFC 'Stanbic Bank Kenya Iimited. The Bank had faced mans serv ice delivery challenges following the merger of CFC Bank and Stanbic Bank of Kenya Limited. They two banks had a different setting, management and organization culture. The studv applied case study research design where information was only collected from the senior management team since they arc involved in strategy formulation and implementation. The studv 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 used content analysis and presented the findings in prose format. From die 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 development 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 satisfaction. The bank invested in employee capacity building and culture management to build a service culture among its employees, flic study concluded that the merger of CFC Bank and Stanbic bank to form CFC Stanbic 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.