IMPLEMENTATION OF TECHNOLOGICAL PRODUCTS IN SBI AND ITS IMPACT ON CUSTOMER SERVICES
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EXECUTIVE SUMMARY
The working of the customer's mind is a mystery which is difficult to solve and understanding the nuances of what customer satisfaction, is a challenging task. This exercise in the context of the banking industry will give us an insight into the parameters of customer satisfaction and their measurement. In the organised segment, banking system occupies an important place in nation’s economy. It plays a pivotal role in the economic development of a country and forms the core of the money market in an advanced country. The commercial banks in India comprise of both Public sector as well as private sector banks. There are total 26 Public sector and 27 private sector banks are functioning in the country presently. Among the public sector banks the State Bank of India is the largest one. Banks have to deal with many customers every day and render various types of services to its customer. It's a well known fact that no business can exist without customers. Banking is a customer oriented services industry, therefore, the customer is the focus and customer service is the differentiating factors.
This project is on implementation of Technological Products in State Bank of India and its impact on customer services and customers satisfaction in tech products vis-à-vis other banks. A survey was conducted at the branches in Sambalpur and Jharsuguda to get feed back from the customers and bankers and their suggestions to improve customer services in SBI in terms of implementation of tech products. It contains the findings and analysis of the survey conducted to collect primary data through questionnaire responded by the customers regarding various parameters that influence customers satisfaction. These parameters are classified as Customer acceptance to technological products like Internet Banking, Mobile Banking and ATM Services and other tech Products, their feedback/suggestions/grievances. Further an attempt has also been made to know what features the bank should include to satisfy the customers and also to know the perception of customers regarding the technological services given by SBI. Further, the customers have ranked different Banks in terms of customer services. An attempt has also been made to categorize investors based on various factors such as sex, age, occupation, etc. The sample size is limited to 165, from which 106 are SBI customers and rest 59 are from different other public sector and private sector banks.
This study specifies the reasons of customer’s satisfaction and dissatisfaction regarding the services given by their banks, specially relating to tech products. They suggested some valuable opinion that the bank needs to implement for better customer service. As the private banks and new generation banks have come up in a big way with prime emphasis on technical and customer focused issues, S.B.I, the premier Banking Institution in India faces challenge and needs to improve its services to retain its customer base.
INTRODUCTION
1.1 INTRODUCTION:

In the organised segment, banking system occupies an important place in nation’s economy. It plays a pivotal role in the economic development of a country and forms the core of the money market in an advanced country. The commercial banks in India comprise of both Public sector as well as private sector banks. There are total 26 Public sector and 27 private sector banks are functioning in the country presently. Banks have to deal with many customers everyday and render various types of services to its customer. It's a well known fact that no business can exist without customers.
Customer satisfaction, a business term, is a measure of how products and services supplied by a company meet or surpass customer expectation. It is seen as a key performance indicator within business. In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy. Customer satisfaction is an ambiguous and abstract concept and the actual manifestation of the state of satisfaction will vary from person to person and service to service. The state of satisfaction depends on a number of both psychological and physical variables.
The banking industry like many other financial service industries is facing a rapidly changing market, new technologies, economic uncertainties, fierce competition and more demanding customers and the changing climate has presented an unprecedented set of challenges . Banking is a customer oriented services industry, therefore, the customer is the focus and customer service is the differentiating factors.
The banking industry in India has undergone sea change since post independence. More recently, liberalization, the opening up of the economy in the 90s and the government's decision to privatize banks by reduction in state ownership culminated in the banking reforms based on the recommendations of Narasimha Committee. The prime mover for banks today is profit, with clear indications from the government to 'perform or perish'. Banks have also started realizing that business depends on client service and the satisfaction of the customer and this is compelling them to improve customer service and build up relationship with customers.
With the current change in the functional orientation of banks, the purpose of banking is redefined. The main driver of this change is changing customer needs and expectations. Customers in urban India no longer want to wait in long queues and spend hours in banking transactions. This change in customer attitude has gone hand in hand with the development of ATMs, phone and net banking along with availability of service right at the customer's doorstep. With the emergence of universal banking, banks aim to provide all banking product and service offering under one roof and their endeavour is to be customer centric. With the emergence of economic reforms in world in general and in India in particular, private banks have come up in a big way with prime emphasis on technical and customer focused issues.
1.1.1 Customers profile in Public Sector Bank :
When we talk about customer service, we tend to think it as a very simple issue of customer satisfaction. However its very complex issue because customers of Public sector banks comes from all walks of life;
1. From poorest to richest.
2. Youngest to oldest.
3. Illiterate to highly educated.
4. Sweeper to Chief Executive.
5. Individuals to Corporate.
6. People from all regions, religion, caste, age, service, profession etc.
7. People from different backgrounds, culture, temperament and ego levels.
All customers from different backgrounds have different expectations. Unless the service standards fit to each person’s expectations, he will not be satisfied. Therefore one has to understand each type of customer thoroughly to be able to provide customer specific services.
1.1.2 Customer service- planning strategies:
The entire process of customer service is dependent on following.
1. The human resources.
2. The products itself.
3. Processes.
4. The delivery channels.
5. Customer feedback.
6. Grievances redressal mechanism
7. Market study
While a number of the above processes can be copied by rival banks, it is only “customer service” that differentiates banks when it comes to choosing a bank by today’s ever demanding customer.
1.2 REVIEW OF BANKING SERVICES:
Not so long ago, accessing our own money was about setting aside a couple of hours, getting to the bank before closing time, standing in one queue to get a token and then in another to collect the cash. Those were the pre-economic reforms days, when the banking sector primarily consisted of public sector banks.
Cut to the present day and the nature of banking has changed beyond recognition. With ATM cards, simple banking transactions like withdrawing and depositing money are easier than ever before. For the tech-savvy, there is the option of banking online. The next medium is your mobile.
Work done by Berry (Bart Allen) and Brodeur between 1990and 1998 defined ten 'Quality Values' which influence satisfaction behaviour, further expanded by Berry in 2002 and known as the ten domains of satisfaction. These ten domains of satisfaction include: Quality, Value, Timeliness, Efficiency, Ease of Access, Environment, Inter-departmental Teamwork, Front line Service Behaviours, Commitment to the Customer and Innovation. These factors are emphasized for continuous improvement and organizational change measurement and are most often utilized to develop the architecture for satisfaction measurement as an integrated model.
Work done by Parasuraman, Zeithaml and Berry (Leonard L) between 1985 and 1988 provides the basis for the measurement of customer satisfaction with a service by using the gap between the customer's expectation of performance and their perceived experience of performance.
Work done by Cronin and Taylor propose the "confirmation/disconfirmation" theory of combining the "gap" described by Parasuraman, Zeithaml and Berry as two different measures (perception and expectation of performance) into a single measurement of performance according to expectation.
According to Garbrand, customer satisfaction equals perception of performance divided by expectation of performance.
To compete successfully in today’s competitive marketplace, banks must focus on understanding the needs, attitudes, satisfactions and behavioural patterns of the market (Kaynak and kckemirogl, 1992). Customers evaluate a number of criteria when choosing a bank.
The usual measures of customer satisfaction involve a survey with a set of statements using a Likert Technique or scale. The customer is asked to evaluate each statement and in term of their perception and expectation of performance of the organization being measured.
1.3 OBJECTIVE OF THE STUDY:
The objective is to study the acceptance of various tech products viz. Internet banking, Mobile banking and ATM services amongst the customers of SBI and to have a comparative analysis of SBI on these products vis-a-vis other leading private and public sector banks.
1. To evaluate the quality of customer services given by SBI and other banks, and make a comparison between them.
2. To examine the quality of ATM facility and to detect whether there is any problem faced by the customers in using the ATMs.
3. To assess the quality of employees in the bank.
4. To detect whether customers are using advanced technology like Internet Banking and Mobile Banking or are they following the old traditional method.
5. To find out the exact weak areas in which SBI is lagging behind and to propose certain remedial measures to strengthen such weak areas in order to improve the quality of customer service.
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#2
SIR i want to know what is the impact of social network on people giving priority to SBI bank
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