Factors impacting customer satisfaction at vietcombank in vietnam

Himalayan Economics and Business Management Open Access Research Article Factors impacting customer satisfaction at Vietcombank in Vietnam Nguyen Hoang Tien1, Dinh Ba Hung Anh2, Ho Tien Dung3, Pham Van On4, Vu Tuan Anh5, Nguyen Van Dat6 and Bui Quang Tam7 Ho Chi Minh City University of Food Industry, Vietnam Ho Chi Minh City University of Technology, Vietnam University of Economics Ho Chi Minh City, Vietnam Tien Giang University, Vietnam Da Lat University, Vietnam Tay Nguyen University, Vietnam Nguyen Tat Thanh University, Vietnam *Corresponding Author Nguyen Hoang Tien Article History Received: 11.07.2021 Accepted: 29.07.2021 Published: 10.08.2021 Citations: Nguyen Hoang Tien, Dinh Ba Hung Anh, Ho Tien Dung, Pham Van On, Vu Tuan Anh, Nguyen Van Dat and Bui Quang Tam (2021);Factors impacting customer satisfaction at Vietcombank in Vietnam Hmlyan Jr Eco Bus Mgn; 2(4) 44-51 Abstract: This study was conducted to discover the factors affecting customer service quality satisfaction for Vietcombank in Ho Chi Minh City Quantitative research method has been carried out with the research object being customers who are directly performing transactions at the bank There are 347 valid questionnaires processed through exploratory factor analysis (EFA) and testing the research hypotheses by linear regression The results show that the factors of reliability, system, guarantee, interest rate and cost, tangible factors (facilities and forms) have a positive influence on customer satisfaction at Vietcombank in Ho Chi Minh City) In which, emphasizes the importance of two factors of interest rate, service fee and system in improving customer satisfaction with the service, thereby enhancing loyalty to the bank CRM is a sound business strategy to identify the most profitable customers and potential customers of the bank Therefore, customer relationship management in the bank is one of the prerequisites for the bank to achieve the desired goals Keywords: Individual customers, satisfaction, reliability, customer service, service quality DOI: 10.47310/Hjebm.2021.v02i04.006 Accommodation opinion ng to any desired bank can grow strongly Banks are always aiming to provide customer satisfaction for banking service to attract new customers Therefore, it is required for banks to identify factors of customer satisfaction and quantify it The product packages on the financial market of most banks are almost similar in quality, utility and price And of course, the competitive advantage will belong to the bank that has good service quality, perfect customer care, and is able to exceed customer expectations on a regular and consistent basis As Michael LeBoeuf once said: “Customers are the most valuable asset of a business, without customers, the business would not exist” Or the talking numbers that reputable service providers in the world have statistic: “On average, each unsatisfied customer will tell 13 friends and relatives Or, it costs times more to find a new customer than it does to maintain an existing one Or, it takes 12 times of good customer service to make up for bad customer service” Recognizing the importance that Vietcombank is one of the banks Joint Stock Commercial large scale in Vietnam, always the pioneer in providing customers with optimal financial solutions, the first and leading commercial bank in INTRODUCTION TO RESEARCH TOPIC In today's competitive environment, customers are the decisive factor to the existence and development of the bank The bank that wins the attention and loyalty of its customers will win and grow The customeroriented strategy is becoming the leading strategy of commerce today How to bring customers the best satisfaction is always the problem that banks try to with all their ability (Tien, 2017, 2019; Oliver, 1997) The satisfaction of customers is the main factor leading to the success of a business whether it is a large enterprise or small grazing g female a, k imperious row is an invaluable asset of every business so Customer satisfaction is a very important goal for every business In today's market economy, competition between businesses is becoming increasingly fierce, not only in product quality but also in care before, during and after the sale Loyal customers will always be ready to accompany the business in any situation because their belief in the business is great From the source of loyal customers, you can easily have a large number of new customers V IEC study and learn the factors affecting customer satisfaction is extremely 44 Nguyen Hoang Tien et al., Jr Eco Bus Mgn; Vol-2, Iss- (July-Aug, 2021): 44-51 manufactured, tangible products will be used by intermediary agents, wholesalers and retailers As for services, production and consumption take place at the same time, with the presence of service providers and service users Heterogeneity: or instability in quality: because production and consumption take place at the same time, service quality varies by time, space, provider and customer And when evaluating service quality, customers rely heavily on personal feelings as well as psychological state at the time of evaluation Non-storable: Services cannot be stored, stored, and sold like other goods We can prioritize the performance of the service in the order of first, but we cannot save the service and then use it because the service is finished and cannot be saved for "reuse" or " recovery" again Therefore, a service is a product that is used when it is created and then finished immediately Thus, compared with tangible products, services have four distinct characteristics as follows: intangibility, inseparability, heterogeneity and nonstorability Vietnam to deploy an effective, safe and convenient cashless payment - card service today As the bank with the most diversified card products in Vietnam, accepting payment of all popular bank cards in the world branded American Express, Visa, Master Card, JCB, Diners Club, etc boasts the leading position in card issuance and payment market share in Vietnam's card market When it comes to Vietcombank card service, customers can choose for themselves from domestic debit cards that are being selected by more than million customers: Vietcombank Connect 24, Vietcombank Connect24 Visa international debit card, Vietcombank Mastercard or high-end application products bearing famous worldwide brands In today's competitive environment, the card market is increasingly active and customers are the decisive factor in the existence of the bank So banks always towards how to bring customer satisfaction when using services at the bank RẢTIONALE a) Concept of service Services are intangible products As defined by the page Wikipe dia (2017), "Service in the National Health, e is entitled to understand that things like that like goods, but immaterial" (http://wikipedia.org, 2017) According to Kotler (2003): "Service is any action and result that one party can provide to another and is essentially intangible and does not refer to ownership of something Its product may or may not be associated with a physical product” (Kotler, 2003) According to Zeithaml and Bitner (2000), services are behaviors, processes, ways of doing something in order to create value value for customers, satisfying customers' needs and expectations (Bui Thanh Trang & Nguyen Dong Phong, 2014) According to ISO 8402:1999: “Service is a result created to meet requirements of customers by contact activities between suppliers - customers and internal activities of suppliers” And according to Nguyen Thu Hang (2004), “Services are social activities, creating products and goods that not exist in physical form, in order to satisfy promptly, conveniently and more effectively the needs in production and human life” Service quality is relative due to the same service quality levels will be evaluated differently by different customers and even by the same customer at different stages (Tien, 2020; Tien et al, 2020a; Tien et al, 2020b; Tien et al., 2020c) In short, there are many different definitions of service, but in general, a service is a purposeful activity to meet some human need c) Service quality: “Service quality refers to the service provider's ability to meet or exceed customer expectations” (Bui Thanh Trang & Nguyen Dong Phong, 2014) Operational efficiency is assessed through the service quality perceived by customers, and service quality should be evaluated from the point of view of service users According to Gronroos (2007), service quality is considered as economic activities that create value and profit for customers at a certain time in a certain space (Beneke et al., 2012) In short, service quality is the behavior, process and process of service performance According to Parasuraman (1988), service quality is considered as the assessment, attitude about service excellence or superiority (Parasuraman et al., 1988) In general, service quality is the gap between customers' expectations about the service and their perception of the results when using the service Or service quality is the difference between customers' expectations about service quality and the service quality that they actually perceive If expectations are greater than perceived results, then perceived quality is low and customers will be dissatisfied and vice versa RESEARCH METHODS From the 90s of previous century there have been several research projects related to quality of service and service quality measurements in many different disciplines In general, the works of Gronroos (1982), Lehtinen and Lehtinen (1982), Lewis and Booms (1983), Sasser, Olsen and Wyckoff (1978) give three common characteristics of service quality: First, quality Service quality is more difficult to measure than tangible products When buying a product, consumers have many tangible factors to judge quality: color, style, packaging Meanwhile, due to intangible characteristics, when buying products and services, consumers will have less tangible factors to evaluate service quality In b) Features of the service: Services have basic characteristics that are quite different from tangible products: Intangibility: the service has no specific shape; we cannot touch, hold, weigh, measure, and measure like tangible products And so the service cannot be stored or stored Inseparability: the consumption and production of services are carried out simultaneously After being 45 Nguyen Hoang Tien et al., Jr Eco Bus Mgn; Vol-2, Iss- (July-Aug, 2021): 44-51 customers are offered both products and services and retailers tend to influence service quality rather than product quality (Dabholkar et al., 1996) Customers will have experiences in the process of shopping at the retail system through a series of activities such as searching for products, interacting with the staff of the retail system, returning goods All these activities will affect the customer's perception of service quality The service quality scale in the retail system was developed and tested by Dabholkar et al (1996) Based on the theoretical basis of the SERQUAL model combined with qualitative surveys and actual observations of customers shopping at supermarkets, Dabholkar et al (1996) have proposed a service quality measurement model consisting of five factors Factors: Facilities, Reliability, Problem Solving, Personal Interactions and Operational Policies and a scale of 28 observed variables; in which 17 variables are from SERQUAL model and the remaining 11 variables are from qualitative survey many cases, they base their assessment primarily on tangible factors such as the service provider's facilities, equipment, and staff And in the absence of information on tangible factors, consumers will be able to judge service quality based on other factors, and in many cases price (although no formal research has been done) (Parasuraman et al., 1985) Also due to this feature, it will be difficult for service providers to capture how consumers perceive service and service quality When service providers understand how consumers evaluate service quality, they will come up with solutions to influence consumers' evaluations in the right direction (Parasuraman et al., 1985) Second, service quality is perceived from the comparison of service quality expectations with the actual quality received Researchers and service providers believe that service quality is a measure of how well a service meets customer expectations Service delivery means meeting customer expectations on a long-term basis (Parasuraman et al., 1985) Smith and Houston consider that customer satisfaction with service is assessed on the basis of whether or not it matches their expectations Third, service quality is assessed based on the results and service delivery process Sasser (1978) studied three components of service quality: the level of raw materials, facilities and personnel Research shows that service quality includes not only the outcome but also the manner in which the service is performed Grönroos (1982), in his research suggested the two components of service quality: technical quality (Technical quality), is what customers get Duo c and quality functions (Functional quality), is service procedures and methods The model is used to measure customer perception of service quality In Lehtinen's study (1982), service quality is created during the interaction between customers and factors in the service organization (Parasuraman et al., 1985) The researchers used three factors to evaluate: quality of material (equipment, office) ; organizational quality (image, brand of the service organization) and communication quality (arising from the communication between customers and organizations, customers with customers) The study also clarifies the difference between service quality associated with service delivery and quality associated with results Research methods used in the thesis "Factors affecting customer satisfaction at Vietcombank" include data collection method; processing methods, data analysis, satisfaction measurement scale a) The relationship between service quality and customer satisfaction Service quality and customer satisfaction both emphasize the factors that consumers will compare products or services with a certain standard and the relationship between service quality and satisfaction of customers has been studied a lot in the literature, the common opinion of researchers is that these are two separate concepts, service quality is the cause of satisfaction According to Parasuraman et al (1988), service quality and satisfaction are two different concepts but closely related in research on services According to Zeithaml & Bitner (2000), customer satisfaction is a general concept that expresses their satisfaction when consuming a service, while service quality is concerned with specific components of service According to Oliver (1993), Cronin & Taylor (1992), tested this relationship and concluded that service quality leads to customer satisfaction Service quality is related to service delivery, and satisfaction can only be assessed after using that service If the quality is improved but not based on the customer's needs, the customer will never be satisfied with that service Therefore, when using the service, if the customer perceives the service as high quality, then they will be satisfied with that service Conversely, if the customer perceives the service to be of low quality, dissatisfaction will arise SERVQUAL scale is the main tool used to measure service quality The 10 basic components of the scale are: Reliability, Responsiveness, Competence, and AccessibilityAccess), Courtesy, Information, Credibilit y, Security, Understanding customer, Tangibles And in the retail industry, because there are different characteristics from the "pure" service industry (banking, insurance,) so when using SERQUAL's model to measure service quality, the results are not successful (Dabholkar et al., 1996) In retail stores, b) System of service delivery (SYS): Service delivery systematization is the orderly arrangement and provision of banking services through efficient, simplified and standardized procedures and processes Banks, in addition to the mandatory service processes, also have flexible processes for each bank The fact that a bank has quick and reasonable procedures contributes to meeting customer needs in the fastest and most accurate way, thereby satisfying customers A study by Abdullah et al (2010) in 46 Nguyen Hoang Tien et al., Jr Eco Bus Mgn; Vol-2, Iss- (July-Aug, 2021): 44-51 Canada and in Tunisia, reliability and responsiveness are important components of service quality, which are the most important predictors of customer satisfaction and loyalty Customer responsiveness is also assessed as an important component of service quality in the study of Newman (2001), Wang et al (2003), Tahir & Bakar (2007) The bank's willingness to help customers and respond quickly and accurately to customer requirements will bring satisfaction to customers, which is the hypothesis that the author sets out for research Hypothesis H4: There is a positive correlation between responsiveness and customer satisfaction on banking service quality Malaysia confirmed that the service delivery system is the most important component of banking service quality that affects customers' overall perception of service quality In other words, customers perceive the service system to be more important than other components in determining the quality of the services they receive So the hypothesis is that the system affects customer satisfaction? Hypothesis H1: There is a positive correlation between the system and customer satisfaction about the quality of banking services c) Reliability (REL): Reliability is understood as the ability to perform the right service and on time the first time, the ability of the employee to deliver on the promise correctly Reliability is a service quality component studied such as: Karatepe et al (2005); Manshor et al (2011) According to Kwan & Hee (1994), Yavas et al (2004) reliability is the most important component Research by Newman & Cowling (1994), Tahir & Bakar (2007), reliability is not the most important component, but only ranks second or third Through many studies as above, we can found that reliability is a component of banking service quality Therefore, it is hypothesized that reliability has an impact on customer satisfaction about the quality of banking services Hypothesis H2: There is a positive correlation between reliability and customer satisfaction about the quality of banking services f) Transaction & service costs (PRI): Transaction and service costs are issues related to costs that customers have to spend In any business field, not only in the banking industry, the cost customers are willing to pay to get goods or services is always a matter of concern to customers and businesses In order for customers to spend a sum of money to buy goods and services, the goods and services themselves must meet the needs of the customer, thereby leading to customer satisfaction Research by Bahia & Nantel (2000) on the quality of banking services in Canada has shown that transaction costs and service usage are the second most important component At banks in Vietnam, is transaction cost and service usage a component of service quality affecting customer satisfaction, that is the hypothesis posed here: Hypothesis H5: There is a correlation between transaction costs and service use and customer satisfaction about the quality of banking services d) Empathy (EMP): Empathy is understood as taking care of each individual customer The most recent study by Ladhari et al (2010) studying service quality differences in Canada and Tunisia concluded that empathy is the most important factor in the service quality component in Canada This statement is true in the study of Newman & Cowling (1994); Lasser et al (2002) and is also consistent with the research of Karatepe et al (2005), Newman (2001) (empathy is the second most important component) However, there are also studies that suggest that empathy is the least important component (Beerli et al., 2004; Tahir & Bakar, 2007) In general, empathy is a component of service quality, the author has the following hypothesis: The impact of service quality Hypothesis H3: There is a positive correlation between empathy and customer satisfaction about the quality of banking services g) Tangible means (TAG): Tangible means are reflected in the appearance, clothing of employees and equipment and tangible assets that support the service At present, there are many conflicting opinions about whether tangible media is a component of the quality of banking services or not According to the study of Yavas et al (1997), that tangible media is the most important component, in the study of Kwan & Hee (1994), Tahir & Bakar (2007) occupies a low position Contrary to the conclusions of the above studies, the study of service quality differences in Canada and Tunisia by Ladhari et al (2010) confirms that tangible means are not important in both Canada and Tunisia The opinion of Arasli et al (2005) suggests that although banks change the environment, customers still evaluate the quality of banking services mainly in terms of the personal support they receive from individuals members, not technical innovation According to Molina et al (2007), despite the automation of banking technology, customers still want to transact between people So the question arises whether tangible media is a component of service quality that affects customer satisfaction or not? e) Responsiveness (RES): Responsiveness is expressed through the desire and willingness of employees to provide timely service to customers If in the study of Ladhari et al (2010), the study of service quality differences in Canada and Tunisia concludes that empathy is the most important factor in the service quality component at banks in 47 Nguyen Hoang Tien et al., Jr Eco Bus Mgn; Vol-2, Iss- (July-Aug, 2021): 44-51 Hypothesis H6: There is a positive correlation between tangibles and customer satisfaction about the quality of banking services h) Research model: According to the above hypotheses, we see that the factors: system, reliability, empathy, responsiveness, tangible media, transaction costs and service use are all correlated positive with customer satisfaction about the quality of banking services Customer satisfaction at Vietcombank is based on results RESEARCH RESULTS AND DISCUSSION Description of the Sample: In order to apply the model in practice, from March 1, 2021 to May 15, 2021, a survey was conducted on customers performing transactions at branches of Vietcombank in Ho Chi Minh City The number of ballots distributed was 500 votes and 400 valid votes were collected Convenience sampling method and face-to-face interviews with customers who are transacting with a questionnaire designed according to factors affecting customer satisfaction about banking services and a scale of to  Data Collection Methods: The method uses information already available from a variety of sources + Secondary data: Secondary data is data available from the Internet, newspapers, textbooks and is data that is used for other purposes, not the subject being studied Secondary data can be identified quickly and inexpensively In this study, secondary data is collected and aggregated information about the overview, operational structure of Vietcombank, information related to customer satisfaction about banks in general and Vietcombank in particular The above information is compiled from sources on the Internet, newspapers, business reports of Vietcombank and previous related studies The information will be selected, related to the research topic, arranged in a scientific, systematic manner and clearly stated the source, author's name, and date so that the information can be trusted and checked According to the survey results of 500 customers, the time of using the service is 78.1% of customers have used more than year and 21.9% customers using services at VCB for less than year Regarding the level of education, the results show that the research sample has been spread to all subjects with different educational levels, of which 49.6% of customers have intermediate or higher education, have good assessment skills which is consistent with my research About income: Out of 347 customers surveyed, 23.1% of customers have an income of 10-20 million/month, 53.9% of customers have an income of 5-10 million, this group of customers has a regular income This subject is consistent with my research + Qualitative research methods: gather an in-depth understanding of human behavior and the reasons that influence this behavior This method finds out an important topic that the topic "Factors affecting customer satisfaction at Vietcombank" could not cover before and answers research questions with data of nature explain and demonstrate the results found Since this is secondary data, it will be necessary to sift through to get the most accurate documentation for the problem Evaluation of the scale (Cronbach's Alpha): The scale is evaluated for reliability through two tools: Cronbach's Alpha coefficient and factor analysis Cronbach's Alpha coefficient is used to eliminate "junk" variables, variables with a total correlation coefficient of less than 0.3 will be eliminated and the scale will be selected when Cronbach's Alpha coefficient is greater than 0.6 (Hoang Trong & Chu Nguyen Mong Ngoc, 2008) Reliability is used to describe the error of a measurement, because it is not possible to know the exact degree of variation of the true and error variables, and it is not possible to calculate the reliability of the scale directly However, we can establish reliability based on Cronbach's Alpha coefficient This coefficient indicates the degree of correlation between the variables in the questionnaire, used to calculate the change of each variable and the correlation between variables (Hoang Trong & Chu Nguyen Mong Ngoc, 2008) Data Processing and Analysis: + Statistical methods with secondary data: Through the collected data, create tables and charts, describe charts to present the problem in the most intuitive way + Method of comparison and comparison: Through secondary data, collect data and then compare and compare the data obtained over the years, from which it is possible to analyze and evaluate the current situation Table Summary of Cronbach Alpha coefficients Stt first Element Distribution system Trust level Empathy Ability to meet Transaction and service fees Tangible means Satisfaction with service quality Cronbach's coefficient Alpha 0.876 0.823 0.796 0.818 0.750 0.750 0.866 48 Nguyen Hoang Tien et al., Jr Eco Bus Mgn; Vol-2, Iss- (July-Aug, 2021): 44-51 Based on the summary table of Cronbach Alpha coefficient, we see that VCB's reliability level is 0.823, showing that customers' trust in VCB is very good Customer satisfaction is also reflected in the service quality satisfaction index (0,866) about staff doing consulting services or customer care activities In addition, satisfaction can be assessed through tangible means such as ATMs or the coverage of ATMs needed by VCB when customers have a need to use it at that time is also VCB's ability to meet customers' needs client Exploratory factor analysis (EFA) is used to reduce a set of x to turn observations into a set of F (with F < x) of more significant factors When doing research, you will usually collect a fairly large number of variables and a lot of observed variables in which they are correlated with each other Instead of studying 20 minor characteristics of an object, you could study only major features, and for each of these major features small features that are correlated with each other Thereby saving you a lot of time and money in the research process Evaluation criteria: Factor loading: Defined as the factor weight, this value represents the correlation relationship between the observed variable and the factor The higher the factor loading coefficient, the greater the correlation between that observed variable and the factor and vice versa According to Hair et al (1998), factor loading or factor loading is an indicator to ensure the practical significance of EFA: • If Factor loading > 0.3 is considered minimum level • If Factor loading > 0.4 is considered important • If Factor loading > 0.5 is considered to be of practical significance These solutions contribute to high satisfaction of customers for Vietcombank Improve customer service efficiency: Customer service efficiency is one of the factors affecting customer satisfaction Therefore, the Bank should pay attention to the recruitment and training of staff and constantly improve its ability to serve customers About employees: For new employees, it is necessary to organize re-training during the probationary period and for new employees, it is necessary to regularly organize training courses to improve and update new knowledge about the profession service About customer work: perform well in taking care of customers through attitudes, behaviors and manners when contacting and advising customers Employees who deal with customers must regularly update Vietcombank's latest information and hone their skills to successfully complete consulting and customer care work Strengthening the trust of customers: Through the study of Vietcombank, elements of customer trust for VCB (.823) Therefore, VCB need for exchanging experiences and accelerate productivity to enhance operational skills, processing speed work, review and standardization of processes and procedures for translation tools for customer oriented simple, friendly, accessible, cost and time for customers to ensure safe and fast Organize the settlement of customer complaints promptly and achieve the best quality Continuously improve convenience for customers when using services: banking services via the Internet (VCB-e-banking) is designed to make the commitment to bring Vietcombank to customers anytime, anywhere Just a computer with an Internet connection and the access code by the banks offer, customers can perform transactions with banks and security absolute security like: lookup account information and account balances, account statements lookup time and information search of credit cards, debit cards Customers can register or request a change of service other electronics of VCB as VCB SMS Banking, VCB Phone Banking, VCB mobile banking, card services, services received account statements monthly through email and many other gadgets of the bank added Customers can perform banking transactions right on your smartphone quickly, safely and conveniently Besides these features on finance, VCBMobile B@nking new version also helps customers more support tools such as looking up information exchange rates, interest rates, location of the ATM, place of delivery banking services, management of portfolio securities This support tools ensuring accurate information, complete and update the visual display In addition, customers can share with your friends right in the app version of the new Boosting the capacity of staff to serve the speed of transaction processing and respond to questions and complaints from customers rapid minimize waiting time At the same time, the trading room should also improve the process feedback However, you should note that the standard value of the Factor Loading factor needs to be dependent on the sample size In practice, it is not easy to remember each load factor level for each sample size range, so it is common to take the 0.5 load factor as the standard level with sample sizes from 120 to less than 350; standard load factor of 0.3 with sample size of 350 or more Bartlett test has statistical significance (Sig < 0.05): Bartlett test is a statistical quantity used to examine the hypothesis that variables are not correlated in the population In the case of this test has statistical significance (Sig < 0.05), the observed variables are correlated with each other in the population KMO coefficient (Kaiser-Meyer-Olkin) is an index used to consider the appropriateness of factor analysis If this value is less than 0.5, then factor analysis is likely not suitable for the research data set The value of KMO must reach a value of 0.5 or more (0.5 ≤ KMO ≤ 1) which is a sufficient condition for factor analysis to be appropriate Percentage of variance > 50%: It represents the percentage variation of the observed variables That is, considering the variation is 100%, this value tells how much the factor analysis explains Eigenvalue is a commonly used criterion to determine the number of factors in EFA analysis With this criterion, only factors with Eigenvalue ≥ are kept in the analytical model 49 Nguyen Hoang Tien et al., Jr Eco Bus Mgn; Vol-2, Iss- (July-Aug, 2021): 44-51 define the coordination mechanism between branches and transaction offices in relation to customers Agree on regulations, apply common policies with customers (interest rates, service fees) In addition, strengthening consulting and customer support: The quick and effective consultation for customers during the transaction process will help customers better understand banking services, contribute to part of making Vietcombank's product and service portfolio more attractive to businesses and individuals, thereby helping to retain customers information and handling complaints and the steps to receive dossiers and to ensure processes are followed strictly For quality of cards is the ability to meet the service tag for the expectations of customers who use the card Improve the features of the card in order to best respond to the needs of customers RECOMMENDATIONS AND CONCLUSIONS Theoretical issues related to the bank's products and services as well as understanding about customer satisfaction with these products and services Banking products and services are increasingly diversified, and banks are more and more interested in satisfying their customers The actual survey collects customers' opinions on service quality, service prices and their needs for products and services provided by Vietcombank Specific orientations and solutions are in order to build Vietcombank into a strong banking and financial group, providing diverse and good quality services, always bringing high satisfaction to customers Fourth, strengthen the development of products and services:  First, developing new services: Besides improving and growing existing services, it will have the effect of expanding operations, improving service quality and maintaining market share Prioritize resources to focus on research and development of customer services Develop high-tech customer service to improve and increase productivity, speed, accuracy, quality and customer accessibility of products and services  Second, develop and improve the policy of evaluating banking products and services: Develop and improve product evaluation criteria, step by step improve evaluation criteria and product management in order to create new channels for customers most effectively respond to wholesale and retail services, quickly detect weaknesses and inadequacies to upgrade, improve products or discontinue ineffective products and services Some recommendations are proposed for the sustainable development of Vietcombank: First, improve customer trust: Need to improve security and safety in transactions One of the aspects of improving service quality for banking services for customers is to ensure safety and improve security when customers use transactions For e-banking, apply modern encryption technology to encrypt information in order to ensure the confidentiality and integrity of customers' personal information during service use More modern and secure authentication methods, minimizing risks for customers in case others access the e-banking system Fifth, improve facilities: Ensure the stable operation of the technology system in order to increase the quality of services provided to customers and create favorable conditions for the development of new products Investing in technology to serve the analysis and evaluation of customer relationships, perfecting the reporting system for management and administration, especially determining cost-effectiveness for each product line, layout staff with solid professional knowledge, courtesy and enthusiasm to promptly respond to customers' needs, such as: Introduction, consulting, explaining transaction steps/processes, guiding customers Second, adjust the price policy mechanism: The more banks exist in the market, the fiercer the competition becomes In particular, the customer service market is most noticeable to customers, when a series of banks launch extremely low service packages to attract customers, especially foreign banks Therefore, Vietcombank also needs to be quick to come up with appropriate pricing policies to ensure competitiveness in the vibrant market At the same time, the decision on service price should be based on the consideration of: Psychological factors of customers; The bank's positioning strategy; Set price list for customer groups; Key target pricing method; Valuation using the cost aggregation method; The method of pricing by geographical area; The discriminant pricing method Sixth, improve customer service capacity: The human factor is the most important factor for the success of the service business Training activities must aim at improving professional qualifications and equipping with complementary knowledge and skills, towards building a professional and modern working style Regarding human resource recruitment: properly assess the human resource needs of the units, follow the recruitment policies and procedures from the head office to select talents and attract good staff Create a favorable working environment to help Third, improve customer empathy, perform customer care well: Satisfying customer needs, improving customer awareness and building customer loyalty is always what Vietcombank needs to Set up a customer care team to serve customers attentively, quickly, with care to identify customer needs and find the best way to meet them: P clearly defines each customer must have staff responsible for the care and management Clearly 50 Nguyen Hoang Tien et al., Jr Eco Bus Mgn; Vol-2, Iss- (July-Aug, 2021): 44-51 each individual can promote all the ability It is necessary to have a reasonable recruitment policy and remuneration regime in order to retain and attract talents In addition, Vietcombank regularly update knowledge about professional services and skills training for employees These skills include: Professional skills, communication skills, situational skills and sales skills In particular, Vietcombank must improve the professionalism of its staff in serving customers 18 19 REFERENCES 20 Giao, HNK (2019) Customer Satisfaction towards ATM Services: A Case of Vietcombank Vinh Long, Vietnam Journal of Asian Finance Economics and Business, 6(1), 141-148 Gronroos, C (1984) A service quality model and its marketing implications, European Journal of Marketing, 18(4), 36-44 Hair, JF, Anderson, RE, Tatham, RL, Black, WC (1998) Multivariate Data Analysis USA: Prentical Hall International, Inc Nesrin, O., Tulen, S., & Zeynep SS (2016) Customer Satisfaction in the Banking Sector: The Case of North Cyprus Procedia Economics and Finance, 39, 870878 Duong Thanh Nghia, (2015) “Research on customer satisfaction about service quality at Joint Stock Commercial Bank for Foreign Trade of Vietnam Tra Vinh Branch”, Master thesis of Business Administration, Tra Vinh University Tran Hong Hai (2020), Research paper on factors affecting customer satisfaction using ATM card services of Joint Stock Commercial Bank for Foreign Trade, Vinh Long branch “Customer Satisfaction” in the banking sector https://www.vietinbank.vn/vn/tin-tuc/-Su-hai-longcua-khach-hang-trong-linh-vuc-Ngan-hang20180612173919.html Vietcombank customer care organization activities 10 https://portal.vietcombank.com.vn/Personal/Pages/lienhe.aspx?devicechannel=default 11 Vietcombank customer service culture 12 https://daibieunhandan.vn/vietcombank-giu-gin-vaphat-trien-van-hoa-gan-voi-hoc-tap-tu-tuong-dao-ductac-phong-ho-chi-minh- yzkid3wh4j-47710 13 Vietcombank deploys customer service solutions 14 https://tapchitaichinh.vn/su-kien-doanhnghiep/vietcombank-trien-khai-nhieu-giai-phap-phucvu-ho-tro-khach-hang-321250.html 15 Tien N H., Hung, N T, & Tien, N V (2019) The role of brand and brand management in creating business value - case of Facebook Vietnam, International Journal of Research in Marketing Management and Sales 2019, 1(2), 124-128 16 Tien, N H., Minh, H T T., & Dan, P V (2019) Branding building for Vietnam higher education industry - reality and solutions, International Journal of Research in Marketing Management and Sales, 1(2), 118-123 17 Tien, N.H (2018) Knowledge Management in Strategic Alliances and Foreign Joint Ventures 21 22 23 24 25 26 27 28 29 51 Proceedings of University Scientific Conference of: “Young Lecturers and MBA Students”, 141-149 Faculty of Economics, TDM University Binh Duong 15 June 2018 Tien, N H., Phu, P P., & Chi, D T P (2019) The role of international marketing in international business strategy, 1(2), International Journal of Research in Marketing Management and Sales, 134138 Tien, N H., Vu, N T., Dung, H T., & Duc, L D M (2019), Determinants of real estate bubble in Vietnam, International Journal of Research Finance and Management, 2(2), 75-80 Tien, N H., Vu, N T., & Tien, N V (2019), The role of brand and brand management in creating business value case of Coca-Cola Vietnam, International Journal of Research in Marketing Management and Sales, 1(2), 57-62 Tien, N H., Bien, B X., & Tien, N V (2019) Solutions enhancing competitiveness of madeinVietnam brands in Vietnamese market, International Journal of Research in Marketing Management and Sales, 1(2), 93-99 Tien, N H., Dung, H T., & Tien, N V (2019) Branding building for Vietnam tourism industry reality and solutions, International Journal of Research in Marketing Management and Sales, 1(2), 63-68 Tien, N H., & Anh, D B H (2018) Japanese Innovation Policy and Development of High Quality Human Resource – Experiences for Vietnam Proceedings of International Scientific Conference in Economics and Business (ICYREB) on: “National Entrepreneurship and Innovation”, 108-114 Hanoi, 30 October 2018, Academy of Finance in partnership with IPAG Business Institute (France), York University (Canada) and Waikato University (New Zealand) Tien, N H., & Anh, D B H (2017) Global Strategic Marketing Management Ementon Publisher, Warsaw Tien, N H., & Anh, D B H (2019) Comparative analysis of the process of economic integration of EU and ASEAN, International Journal of Commerce and Management Research, 5(3), 96-99 Tien, N H (2019) Application of CRM in Agricultural Management Proceedings of National Scientific Conference on: “Development of High-tech Agriculture in the Highlands in the Context of Regional Linkage and International Integration”, 216223 April 2019, Institute of Social Science in Central Region, Vietnam Academy of Social Science Tien, N H., Nhi, D T Y., & Chi, D T P (2019) CRM Application in Agricultural Management in the Mekong Delta International Journal of Multidisciplinary Research and Development, 6(10), 123-126 Tien, N H (2019) CRM Application in Managing Hotel, Restaurant and Tourism Services in Vietnam International Journal of Research in Management, 1(1), 14-17 Tien, N H (2019) CRM Application in Customer Service Management at Big4 Banks in Vietnam Nguyen Hoang Tien et al., Jr Eco Bus Mgn; Vol-2, Iss- (July-Aug, 2021): 44-51 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 Tien, N H (2012) Competitivenes of Enterprises in a Knowledge Based Economy PTM Publisher, Warsaw 48 Tien, N H (2013) Competitiveness of Vietnam’s Economy Modeling Analysis PTM Publisher, Warsaw 49 Tien, N H., Thai, T M., Hau, T H., Vinh, P T., & Long, N V T (2020) Solutions for Tuyen Quang and Binh Phuoc Tourism Industry Sustainable Development Comparative Analysis International Journal of Research in Marketing Management and Sales, 2(1), 101-107 50 Tien, N H., Hung, N T., Vu, N T., & Bien, B X (2020) Risks of Vietnamese Enterprises in Trade Relations with China International Journal of Research in Finance and Management, 3(1), 1-6 51 Tien, N H., & Anh, D B H (2019) Trade Freedom and Protectionism of Leading Economies in Global Trade System, International Journal of Commerce and Management Research, 5(3), 100-103 52 Tien, N H (2019) Develop Leadership Competencies and Qualities in Socially Responsible Businesses – Reality in Vietnam, International Journal of Research in Management, 1(1), 1-4 53 Tien, N H., & Ngoc, N M (2019) Comparative Analysis of Advantages and Disadvantages of the Modes of Entrying the International Market, International Journal of Advanced Reearch in Engineering and Management, 5(7), 29-36 54 Tien, N H., & Ngoc, N M (2019) Related and Nonrelated Diversification Strategy of Domestic Business Groups in Vietnam, International Journal of Advanced Reearch in Engineering and Management, 5(7), 12-17 55 Tien, N H (2017) Challenges and opportunities for enterprises in the world of the 4th industrial revolution, Proceedings of NATIONAL SCIENTIFIC CONFERENCE on “Accounting, Auditing and Vietnam Economy in the Face of 4.0 Industrial Revolution”, 441-445, November 2017, Quy Nhon University, Quy Nhon, Binh Dinh province 56 Tien, N H., NTH Dung, TTT Trang, VT Hien, & BTN Phuong (2021) Factor Affecting Tourists’ Return Intention A Case of Binh Quoi Village in Ho Chi Minh City “JOURNAL OF ARCHEOLOGY OF EGYPT / EGYPTOLOGY”, 18 (9), 493-507 57 Ngoc, P B., Tien, N H., & TTT Trang (2021) Current Path to Community Based Sustainable Tourism Development of Khanh Hoa Province in Vietnam “JOURNAL OF ARCHEOLOGY OF EGYPT / EGYPTOLOGY”, 18(9), 508-525 58 Ngoc, N M., & Tien, N H (2021) Branding Strategy for Gamuda Land Real Estate Developer in Ho Chi Minh City Vietnam Celadon City Project “PSYCHOLOGY AND EDUCATION”, 58(5), 3308-3316 59 Ngoc, N M., Tien, N H, & TH Thu (2021) The Impact of Financial Structure on Financial Performance of Logistic Service Providers Listed at Ho Chi Minh City Stock Exchange “JOURNAL OF ARCHEOLOGY OF EGYPT/EGYPTOLOGY”, 18(2), 688-719 60 Ngoc, N M., Tien, N H., PB Chau, & TL Khuyen (2021) The Impact of Financial Structure on Business Performance of Real Estate Enterprises Listed at Ho International Journal of Research in Management, 1(1), 9-13 Tien, N H., Anh, D B H., Ngoc, N M., & Nhi, D T Y (2019) Sustainable Social Entrepreneurship in Vietnam International Journal of Entrepreneurship, 23 (3), 1-12 Tien, N H (2020) Human Resource Management VHU Publisher, Ho Chi Minh City, Vietnam Tien, N H (2017) Strategic International Human Resource Management Ementon Publisher, Warsaw, Poland Tien, N H (2020) Responsible and Sustainable Business Eliva Press, Chisinau, Moldova Tien, N H., Anh, D B H., & Thuc, T D (2019) Global Supply Chain and Logistics Management, Academic Publications, Dehli, India Tien, N H., Thao V T T, Hung Anh, D B (2019) Sustainability issues in social model of corporate social responsibility Theoretical analysis and practical implications, Journal of Advanced Research in Management 19 (1) Tien, N H (2020) Green Entrepreneurship Understanding in Vietnam International Journal of Entrepreneurship 24(2) Tien, N H., Minh, H T T., Ngoc, N M., & Nhan, V K (2020) Family business in Vietnam and in Poland: Review of characteristics and trend of development, Journal of Southwest Jiaotong University 54(6), 1-19 Duc, L D M., Thuy, H T X., Yen, N T H., & Tien, N H (2018) Corporate Social Responsibility and Corporate Financial Performance Case of Listed Vietnamese Companies, Zeszyty Naukowe Politechniki Częstochowskiej Zarządzanie, 32, 251265 Tien, N H., (2019) International Economics, Business and Management Strategy, Academic Publications, Dehli, India Tien, N H (2020) Principles of Management Financial Publisher Ho Chi Minh City Tien, N H., Minh, H T T., Duc, L D M., & Mai, N P (2020) Enhancing Sustainability in the Contemporary Model of CSR: a Case of Fast Fashion Industry in Developing Countries Social Responsibility Journal Tien, N H., Viet, P Q., Duc, N M & Tam, V T (2020) Sustainability of Tourism Development in Vietnam’s Coastal Provinces World Review of Entrepreneuship Management and Sustainable Development Tien, N H (2015) Leadership in Social Responsible Entreprises Ementon Publisher, Warsaw Tien, N H., Anh, D B H., & Ngoc, N M (2019) Corporate Financial Performance due to Sustainable Development in Vietnam Corporate Social Responsibility and Environmental Management , 27 (2)., 1-12 Tien, N H., & Anh, D B H (2018) Gaining competitive advantage from CSR policy change: case of foreign corporations in Vietnam, Polish Journal of Management Studies, 18(1), 403-417 Tien, N H (2012) Change Management in a Modern Economy Modelling Approach PTM Publisher, Warsaw 52 Nguyen Hoang Tien et al., Jr Eco Bus Mgn; Vol-2, Iss- (July-Aug, 2021): 44-51 61 62 63 64 65 66 67 68 69 70 Chi Minh City Stock Exchange “JOURNAL OF ARCHEOLOGY OF EGYPT/EGYPTOLOGY”, 18(8), 92119 Tien, N H., NQ Giao, TTT Trang, & NP Mai (2021) Sustainability Issues in the Development of Higher Education Industry “HONG KONG JOURNAL OF SOCIAL SCIENCES”, Vol 57, No Spring/ Summer, 79-90 Tien, N H., DBH Anh, LDM Duc, TTT Trang, & PB Ngoc (2021) Subjective Well-Being in Tourism Research “PSYCHOLOGY AND EDUCATION”, 58(5), 3317-3325 Tien, N H., NTH Dung, TTT Trang, & PB Ngoc (2021) Assessing Customer Satisfaction for Can Gio Tourist Destination in Ho Chi Minh City “JOURNAL OF ARCHEOLOGY OF EGYPT/EGYPTOLOGY”, 18(14), 249-268 Tien, N H., DL Diem, TTT Trang, & PB Ngoc (2021) Development of Tourism in South Central Coastal Provinces of Vietnam “JOURNAL OF ARCHEOLOGY OF EGYPT/ EGYPTOLOGY”, 18(8), 1408-1427 Tien, N H., HTT Minh, NH Diep, LH Vu, DT Hai, & TTH Thuan (2021) ASEAN and China in Vietnam’s International Relations in the Region “JOURNAL OF ARCHEOLOGY OF EGYPT/ EGYPTOLOGY”, 18(8), 2661-2680 Tien, N H., HTT Minh, NH Diep, LH Vu, DT Hai, & TTH Thuan (2021) China and USA in Vietnam’s International Relations in the Region “JOURNAL OF ARCHEOLOGY OF EGYPT/ EGYPTOLOGY”, 18(8), 2681-2710 Tien, N H., DBH Anh, PB Ngoc, TTT Trang, & HTT Minh (2021) Brand Building and Development for the Group of Asian International Education in Vietnam “PSYCHOLOGY AND EDUCATION”, 58(5), 3297-3307 Tien, N H (2019) Develop Leadership Competencies and Qualities in Socially Responsible Businesses – Reality in Vietnam “INTERNATIONAL JOURNAL OF RESEARCH IN MANAGEMENT”, Vol.1, No 1, 01-04 Tien, N H (2018) Solutions for Sustainable Development of Binh Duong Tourism Proceedings of University Scientific Conference on: “Binh Duong Tourism, Enhancing Competitiveness towards Sustainable Development”, 55-67 Binh Duong Department of Culture, Sport and Tourism December 2018 Tien, N H (2018) Hanoi Culture of Cuisine as Factor Attracting Tourists to Vietnam Proceedings of University Scientific Conference on: “Values of Gastronomic Culture in Tourist Activities”, 101-105 71 72 73 74 75 76 77 78 79 80 81 53 Faculty of Social Science and Humanities, Department of Culture and Tourism 21 May 2018, Tien Giang University Tien, N H (2020) Sustainable Development of Higher Education A Case of Business Universities in Vietnam “JOURNAL OF HUNAN UNIVERSITY NATURAL SCIENCES”, Vol 47, No 12., 41-56 Tien, N H (2019) Solutions for Tuyen Quang and Binh Phuoc International Tourism Products and Services Development Comparative Analysis “INTERNATIONAL JOURNAL OF RESEARCH IN MARKETING MANAGEMENT AND SALES”, Vol 2, No 1, 131-137 Tien, N H (2019) Trade Freedom and Protectionism of Leading Economies in Global Trade System “INTERNATIONAL JOURNAL OF COMMERCE AND MANAGEMENT RESEARCH”, May 2019, Vol 5, No 3, 100-103 Tien, N H (2019) Comparative Analysis of Advantages and Disadvantages of the Modes of Entrying the International Market “INTERNATIONAL JOURNAL OF ADVANCED RESEARCH IN ENGINEERING AND MANAGEMENT”, Vol 5, No 7, 29-36 Tien, N H (2019) Related and Non-related Diversification Strategy of Domestic Business Groups in Vietnam “INTERNATIONAL JOURNAL OF ADVANCED RESEARCH IN ENGINEERING AND MANAGEMENT”, Vol 5, No 7, 12-17 Tien, N H (2020) Social Entrepreneurship and Corporate Sustainable Development Evidence from Vietnam “COGENT BUSINESS AND MANAGEMENT”, Taylor and Francis Publisher, Vol 7, No 1, 1-17 Tien, N H (2020) Staff Motivation Policy of Foreign Companies in Vietnam “International Journal Of Financial Management And Economics”, , 3(1), 1-4 Tien, N H (2019) Working Environment and Labor Efficiency of State Owned Enterprises and Foreign Corporations in Vietnam “International Journal Of Financial Management And Economics”, 2, (2), 6467 Tien, N H (2019) International Distribution Policy – Comparative Case Study of Samsung and Apple “International Journal Of Research In Marketing Management And Sales”1(2), 24-27 Tien, N H (2021) Sustainability of Coastal Tourism Development: Comparative Analysis of Vietnam’s Northern and Souththern Provinces “Journal Of Southwest Jiaotong University”, 55(6), 1-19 Tien, N H (2020) Knowledge Management in the Context of Industrial Revolution 4.0 “International Journal Of Commerce And Economics”, (1), 39-44  ... operational structure of Vietcombank, information related to customer satisfaction about banks in general and Vietcombank in particular The above information is compiled from sources on the Internet,... affecting customer satisfaction using ATM card services of Joint Stock Commercial Bank for Foreign Trade, Vinh Long branch ? ?Customer Satisfaction? ?? in the banking sector https://www.vietinbank.vn/vn/tin-tuc/-Su-hai-longcua-khach-hang-trong-linh-vuc-Ngan-hang20180612173919.html... looking up information exchange rates, interest rates, location of the ATM, place of delivery banking services, management of portfolio securities This support tools ensuring accurate information,