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The fifth UAE bank benchmarking study of Ethos Consultancy, a global customer service consultant, showed that the average customer satisfaction level rose by 10 per cent this year, the largest since it conducted its annual study in 2005.
Previously, customer satisfaction scores inched up yearly by only 2 per cent to a maximum of 4 per cent. “Customer service quality among UAE banks has been improving over the years, but never as drastic in 2009. In addition to initiatives that banks have taken previously, this year has been a particularly critical year due to the crisis.
Banks’ focus took on a dramatic shift from customer acquisition to customer retention,” said Barry Judge, marketing director of Ethos Consultancy. Dubai Bank showed the most remarkable improvement, leaping from last year’s 21st place to finish as the second best overall bank in 2009, and was named “Most Improved Bank” and “Best Shariah Compliant Bank.”
Ras Al Khaimah Bank, or RAK Bank, has retained its post as “Best Overall Bank” for four years in a row. First Gulf Bank finished third place and was accorded as having the “Best Call Center Perfomance” and “Best Web site Performance.” Lloyds TSB is the “Best International Bank” for the fourth year.
Like other struggling sectors, the recession was a rude wake-up call for UAE banks which previously were never wanting of new customers.
“When a lot of their customers lost their jobs, and companies reduced salaries, banks were concerned not just about getting new clients to replace those that they have lost, but also in keeping the new ones, and ensure those that stayed with them will not look for other banks,” said Judge.
As a result, banks’ were forced to review their customer approach and invested heavily in re-training their frontliners, or those staff that deal with customers directly.
“Dubai Bank for instance spent the last 12 months concentrating on improving the skills of their staff, branch managers were also involved in making sure policies are enforced consistently. Others are closing the gap on RAK Bank, but this bank has been consistent in looking for ways to raise the bar on quality service,” said Judge.
The bank benchmarking study focused on real scenarios whereby a prospective customer approaches a retail bank through three channels: branch, call center and website. The banks were evaluated based on key factors that define customer experience at a bank. These include interpersonal performance, response time, service quality and satisfactory outcome.
The study, conducted from October 1 to November 1, had Ethos researchers making 675 branch visits, making 405 call centre enquiries, and submitting 270 enquiries through bank websites. The study included a total of 27 UAE retail banks.
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