(Chart) We need to enshrine these principles in a Customer’s Charter of Rights and duties of banks towards their customers. “Caveat Venditor” will necessitate these. Last but not the least; banks must focus on improving the skillsets of staff and front-line managers who are face of the bank for the customers.
With increasing competition, banks that survive and succeed will be the ones that provide quality service. Research studies have repeatedly shown that customers are willing to pay for quality service. Banks that wish to stay ahead must therefore systematically build a structure that aims at providing total quality service which is superior and efficient.