Đang tải... (xem toàn văn)
MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIET NAM HO CHI MINH UNIVERSITY OF BANKING HUYNH THI LAM PHUONG Factors influencing customer satisfaction with the International payment service Th[.]
MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIET NAM HO CHI MINH UNIVERSITY OF BANKING HUYNH THI LAM PHUONG Factors influencing customer satisfaction with the International payment service: The case study of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Binh Dinh Branch BACHELOR THESIS MAJOR: BUSINESS ADMINISTRATION CODE: 7340101 HO CHI MINH CITY, 2022 Tai ngay!!! Ban co the xoa dong chu nay!!! MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIET NAM HO CHI MINH UNIVERSITY OF BANKING HUYNH THI LAM PHUONG Factors influencing customer satisfaction with the International payment service: The case study of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Binh Dinh Branch BACHELOR THESIS MAJOR: BUSINESS ADMINISTRATION CODE: 7340101 SUPERVISOR PHAM HUONG DIEN, Ph.D HO CHI MINH CITY, 2022 i ABSTRACT Customer satisfaction plays a pivotal role in driving the success and growth of every business organization in the way that it helps generate repurchase from satisfied customers, forms strong brand loyalty as well as facilitates word-ofmouth marketing In the context of gradual economy recovery after the 4th outbreak of Covid19 in Vietnam, there is huge pressure among banks to increase their charter capital to enhance financial capacity and revenue diversification in new services Customer satisfaction is crucial because in banking industry where products are highly homogeneous, quality of service is primary factor that influence customer’s choice of bank The thesis elaborates on “Factors influencing customer's satisfaction with the International payment service: The case study of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Binh Dinh Branch” with the aim of identifying factors behind customer satisfaction in a specific area of service - International payment at a leading Vietnamese bank - BIDV, assessing level of current performance of BIDV Binh Dinh branch in each area of customer satisfaction determinants and proposing recommendations for improvement This will in turn supports the bank’s long-term growth and brand equity ii DECLARATION OF AUTHENTICITY I the undersigned declare that all material presented in this paper is my own work or fully and specifically acknowledged wherever adapted from other sources I understand that if at any time it is shown that I have significantly misrepresented material presented here, any degree or credits awarded to me on the basic of that material may be revoked I declared that all statements and information contained herein are true, correct and accurate to the best of my knowledge and belief Ho Chi Minh City, May 2022 Name Huynh Thi Lam Phuong iii ACKNOWLEDGEMENT First and foremost, the author would like to express the deepest gratitude to the dedicated supervisor Dr Pham Huong Dien for her great guidance and meaningful advices without which the thesis would not be completed In addition, throughout the process of doing research, the author has received a lot of attention and valuable support from teachers, friends and relatives Thus, the author would like to take this opportunity to send deep gratitude to: - All lecturers from Business Administration Department of Banking University based in Ho Chi Minh city who have provided favorable conditions for the author to have the opportunity to enhance knowledge of business administration as well as banking industry and sharpen practical skills during the last four years - All senior colleagues from the International payment service team at BIDV Binh Dinh for their enthusiastic help with providing necessary data for the thesis - Parents, relatives and friends for their technical and mental support Due to limited time, knowledge and research experience, the article can not avoid limitations Therefore, the author would like to receive comments from teachers to better complete her thesis next time Ho Chi Minh City, May 2022 iv Name Huynh Thi Lam Phuong TABLE OF CONTENTS CHAPTER INTRODUCTION 1.1 Research statement 1.2 Research Objectives and Questions .2 1.3 Research subject and scope 1.4 Research Methodology 1.5 Research significance .3 1.6 Structure of the thesis Summary of Chapter .4 CHAPTER LITERATURE REVIEW .6 2.1 Concept and Theory .6 2.1.1 Service 2.1.2 Service quality 2.1.3 Banking service and International payment service .8 2.1.4 Customer satisfaction 10 2.1.5 The relationship between service quality and customer satisfaction………………………………………………………….… 11 2.1.6 Customer satisfaction using international payment services 13 2.2 Previous studies on factors influencing customer satisfaction………………………………………………………………13 2.3 Research model and hypothesis 15 v 2.3.1 Knowledgeable and experienced consultant team 16 2.3.2 Tangibles .16 2.3.3 Responsiveness 16 2.3.4 Convenience 17 2.3.5 Assurance 17 2.3.6 Competitive price 17 Summary of Chapter .20 CHAPTER RESEARCH METHODOLOGY 22 3.1 Research process 22 3.2 Research design 23 3.2.1 Data collection 23 3.2.2 Designing questionnaire .23 3.3 Data analysis 26 Summary of Chapter .26 CHAPTER DATA AND SITUATIONAL ANALYSIS 28 4.1 Overview of Bank For Investment and Development of Vietnam and Bank For Investment and Development of Vietnam, Binh Dinh branch ……………………………………………………………………28 4.1.1 Bank For Investment and Development of Vietnam 28 4.1.2 Bank for Investment and Development of Vietnam, Binh Dinh branch 29 4.1.3 Main business activities 30 4.1.4 Organization of apparatus at Bank For Investment and Development of Vietnam, Binh Dinh branch 31 vi 4.2 International payment service at Bank For Investment and Development of Vietnam, Binh Dinh branch 32 4.2.1 International payment services at Bank For Investment and Development of Vietnam, Binh Dinh branch 32 4.2.2 International payment operation process at Bank For Investment and Development of Vietnam, Binh Dinh branch 35 4.3 Performance of international payment department, at Bank For Investment and Development of Vietnam, Binh Dinh branch during 2017 – 2021 37 4.3.1 Market development 37 4.3.2 Financial performance 38 4.4 SWOT analysis of customer service of the international payment at BIDV Binh Dinh branch 42 4.4.1 Strengths .42 4.4.2 Weaknesses 42 4.4.3 Opportunities 44 4.4.4 Threats .45 4.5 Survey data analysis 46 4.5.1 Customer satisfaction 47 4.5.2 Factors influencing customer satisfaction 47 Summary of Chapter .52 CHAPTER CONCLUSIONS AND RECOMMENDATIONS .54 5.1 Conclusions 54 5.2 Recommendations 56 5.2.1 Price 56 vii 5.2.2 Assurance 58 5.2.3 Responsiveness 59 5.2.4 Tangibles .61 5.2.5 Knowledgeable consultant team 62 5.2.6 Convenience 63 5.3 Research limitation and futher study 64 REFERENCES 65 Appendix 69 Appendix 72 Appendix 75 viii LIST OF ABBREVIATIONS Abbreviations Full meaning AI Artificial intelligent ATM Automatic teller machine CES Customer effort score D/A Documentary against acceptance D/P Documentary against payment FDI Foreign direct investment GSI Growth strategies international ICC International chamber of commerce IPO Initial public offering IT Information technology L/C Letter of credit NPS Net promoter score T/T Telegraphic transfer SWIFT UCP Society for Wordwide Interbank Financial Telecomunications Uniform custom and practice for documentary credits UPAS L/C Usance payable at sight letter of credit URC Uniform rules for collection VIP Very important person WTO Word Trade Organization 63 is of huge help in saving time, mitigating risk and reducing cost to customers during the whole journey and hence a big plus to customer satisfaction In the period of 2020-2021 when Covid pandemic got complicated and imposed heavy impacts on the economy, businesses and people, besides strengthening pandemic prevention and control measures, both banks and enterprises must apply measures to stabilize business activities In order to ensure the health and safety of employees as well as customers, BIDV Binh Dinh adopted limited offline consulting and encouraged the use e-banking services in an attempt to limit travel, face to face meeting as well as direct contact However, in the near future when the pandemic situation is under control, BIDV Binh Dinh branch will operate back to new normal and resume the organization of seminars, meetings, face-to-face consultancy as core activities to maintain relationship with customers 5.2.6 Convenience BIDV Binh Dinh branch is among banks that have largest coverage with 01 headquarter and 11 transaction offices across 11 districts within Binh Dinh province, which gives customer prompt access to the bank’s services However, international payment service is only limited to headquarter office located in the city center while big business customers are based in the faraway outskirt of the city Therefore, it is recommended that the branch extend its international payment operations to satellite districts in the province in order to create closer proximity to its potential customers Besides, there is room for improvement when it comes to template and procedure related to international payment service It is crucial that templates and procedures are simplified so that it takes less time and effort for customers to fill in One idea is to digitalize all basic templates to enable faster input and correction Also, repeated customer should have their personal information 64 such as name, company, function,…be stored online so that they not need to fill it again for every transaction 5.3 Research limitation and futher study Firstly, the number of samples is limited (only 39 business companies) This is due to limited number of old and existing international payment service customers at BIDV Binh Dinh branch As mentioned above, as international payment service delivery process takes place only at headquarter branch, the branch’s ability to expand customer pool is still low However, if the recommendation for operation expansion to other areas in the province is executed, the author expects to see the number of customers and hence samples increase Secondly, due to limited time, the recommendation is solely based on personal understanding and assessment from previous studies and analysis of BIDV Binh Dinh branch In ideal scenario, the recommendation would be comprehensive and practical if they capture current leading practices in both banking industry and other relevant industries such as retail, entertainment, telecommunications such as Apple, Amazon, HSBC…on how to improve their operations, human resources, technology, pricing,…in a way that maximizes customer satisfaction while remaining profitable 65 REFERENCES Adil, M, & Ansari, S A (2012) Service quality and customer loyalty at Indian rural banks: An empirical test of an integrative model the National Conference on Contemporary Issues in Business, Management & Finance University of Kashmir, India Adil, M (2012) Efficacy of SERVPERF in measuring perceived service quality at rural retail banks: Empirical evidences from India International Journal of Business Insights & Transformation, 52-63 Adil, M (2013) Modelling effect of perceived service quality dimensions on customer satisfaction in Indian bank settings International Journal of Services and Operations Management, 358-373 Annual financial report at BIDV Binh Dinh branch.(2017-2021) B.Crosby, P (1979) Quality Is Free: The Art of Making Quality Certain New York: McGraw-Hill Babakus, E., & Boller, G W (1992) An empirical assessment of the SERVQUAL scale Journal of Business Research, 253-268 Balance sheet of BIDV Binh Dinh branch (2017-2021) Bei, L.-T and Chiao, Y.-C (2001) An Integrated Model for the Effects of Perceived Product, Perceived Service Quality, and Perceived Price Fairness on Consumer Satisfaction and Loyalty Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 125-140 BIDV (2022) Retrieved May 18, 2022, from bidv.com.vn: https://www.bidv.com.vn/ 10 Brown, T J., Churchill Jr, G A., & Peter, J P (1993) Research note: Improving the measurement of service quality Journal of Retailing, 127139 66 11 Codwell (2001) Characteristics of a Good customer satisfaction survey New Delhi: Tata McGraw-Hill 12 Cronin and Taylor (1992) Measuring Service Quality: A Reexamination and Extension The Journal of Marketing, 56(3), 55-68 13 Grönroos, C (1984) A service quality model and its marketing implications European Journal of Marketing, 18, 36-44 14 Grönroos, C (1990) Service Management and Marketing: Managing the Moments of Truth in Service Competition Lexington Books 15 Hội, H V (2021) Giáo trình toán quốc tế Hà Nội: NXB Đại học kinh tế quốc dân 16 Hokanson (1995) The Deeper You Analyse, The more you satisfy customers Marketing News 17 Hùng, B N (2004) Quản trị chất lượng TP Hồ Chí Minh: Đại học quốc gia 18 Ismail Razak, Nazief Nirwanto and Boge Triatmanto (2016) The Impact of Product Quality and Price on Customer Journal of Marketing and Consumer Research, 30, 60 19 Kotler, P (1987) Marketing, an introduction Prentice Hall 20 Lassar et al (2000) Service Quality Perspectives and Satisfaction in Private Banking The International Journal of Bank Marketing, 244-271 21 Lewis, Booms (1983) The marketing aspects of service quality American Marketing Association, 99-104 22 M.Juran, J (2001) Total Quality Management McGraw-Hill Companies 23 Nguyen Phi Hung and Jung Fa Tsai (2020) Influencing Factors of the International Payment Service Quality at Joint Stock Commercial Bank for 67 Investment and Development of Vietnam The journal of Asian finance, Economics and business, 7(10) 24 Odunlami and Matthew (2015) Impact of Customer Satisfaction on Customer Loyalty: A Case Study of a Reputable Bank in Oyo, Oyo State, Nigeria International Journal of Managerial Studies and Research (IJMSR), 3(2), 59-69 25 Overall report of BIDV Binh Dinh branch (2021) BIDV Binh Dinh 26 Panasuraman et al (1993) The Nature and Determinants of Customer Expectation of Service Journal of the Academy of Marketing Science, 21, 112 27 Parasuraman (1985) A conceptual model of service quality and its implications for future research Journal of Marketing 28 Parasuraman (1991) Refinement and reassessment of the SERVQUAL scale Journal of Retailing, 67, 420 29 Parasuraman, Zethialm and Berry (1988) SERVQUAL: A Multiple-Item Scale for Measuring Consumer Perceptions of Service Quality Journal of Retailing, 12-40 30 Spreng and Taylor (1996) An empirical examination of a model of perceived service quality and satisfaction Journal of Retailing, 72, 201-214 31 Thạch, H (2012) Giải pháp nâng cao chất lượng dịch vụ Chi nhánh Ngân hàng Nông nghiệp Phát triển Nông thôn Tỉnh Quảng Nam điều kiện hội nhập kinh tế quốc tế, Luận án Tiến sĩ Kinh tế Trƣờng Đại học Kinh tế Quốc dân Hà Nội 32 Thái, N T (2006) Giáo trình Marketing dịch vụ Hà Nội: Nhà xuất Bưu điện 68 33 Trung, N C (2006, January 4) Nâng cao chất lượng dịch vụ Ngân hàng xu hội nhập Retrieved May 19, 2022, from sbv.gov.vn: https://www.sbv.gov.vn/webcenter/portal/vi/menu/sm/chitiet/inbaiviet?dDoc Name=CNTHWEBAP01162529165&_afrLoop=54987058425408224#%40 %3F_afrLoop%3D54987058425408224%26centerWidth%3D100%2525%2 6dDocName%3DCNTHWEBAP01162529165%26leftWidth%3D0%2525% 26pageTemplate 34 Zethialm and Bitner (2000) Services Marketing: Integrating Customer Focus across the Firm Boston: McGraw-Hill 35 Zethialm and Bitner (2009) Services Marketing: Integrating Customer Focus across the Firm Singapore: McGraw-Hill and Irwin 69 Appendix SURVEY QUESTIONNAIRE Survey form (International payment customers) Dear valued customers, Customer name: Position: …………… Company: CUSTOMER OPINION ON QUALITY OF INTERNATIONAL PAYMENT SERVICE AT BIDV BINH DINH BRANCH Rank your level of agreement on the following statements No Factors Completely Agree Neutral Agree Assurance As BIDV gives customers peace of mind when transacting As The behavior of international payment staff creates more and more trust for customers As International payment staff demonstrate proper courtesy to customers As International payment staff have solid professional knowledge and skill What are the limitations of assurance of International payment service? Responsiveness Res BIDV staff always serve customers quickly and on time Res BIDV staff are always ready and enthusiastic to help customers Res BIDV staff always notify customers when the service is performed and completed Disagree Strongly disagree 70 Res BIDV owns a portfolio of international payment products that meet most of the needs of customers What makes you impressed most on the responsiveness of the International payment service? Convenience Con Time on transaction and document processing as requested 10 Con Convenient transaction location Con The staff always create the most 11 favorable conditions for customers to transact What are the limitations of convenience of International payment service? Knowledgeable consultant team Ct The Bank always listens to customer’s comments Ct International payment service staff regularly contact customers to understand 13 their needs/requests 12 Ct BIDV regularly organizes diverse 14 loyalty programs for customers Ct BIDV regularly organizes seminars and 15 business meetings to share information and listen to customers' opinions on their services What you think about the consultant team of International payment service? What are the limitations of the consultant team? What can the consultant team to improve your experience at BIDV Binh Dinh branch? Tangibles Ta BIDV's facilities are modern and fully 16 equipped Ta BIDV staff dress code is neat, polite, 17 professional Ta BIDV's working time is very convenient 18 for customers to come and transact 71 Ta BIDV's offices are located at central 19 locations, with large street frontages, which is makes it highly accessible to all customers 20 Ta BIDV has a wide network of branches Ta BIDV’S process and procedures of international payment services are very simple 21 and fast Ta Forms are presented with great clarity, 22 simplicity and ease to understand What makes you dissatisfied most with the quality of Tangibles at BIDV Binh Dinh branch? Competitive price Pc Reasonable international payment service fee 24 Pc Competitive trade finance lending rates 25 Pc Good exchange rate for foreign currency 23 Which types of fee makes you satisfied most? Customer satisfaction Cs Customers are satisfied with the quality 26 of international payment services at BIDV Binh Dinh Cs Customers are satisfied with the price of international payment services at BIDV Binh 27 Dinh Cs Customers are satisfied with 28 international payment transactions with BIDV Binh Dinh Why you choose the International payment service at BIDV Binh Dinh branch? What is your opinion about the International payment service at BIDV Binh Dinh branch? Which factors make you satisfied most ? II Other feedback Thank you for taking time to complete the survey! 72 Appendix LIST OF CUSTOMERS COMPLETING THE SURVEY Order Individual / Corporate customers English name Tax code/ID Công ty TNHH Gia Vinh Gia Vinh Co,.Ltd 4100575489 Công ty CP Thực phẩm XNK Lam Sơn Lam Son Import Export Foodstuff Joint Stock Company 4100259620 Công ty CP Thiên Phúc Thien Phuc Joint Stock Company 4100831090 Công ty CP Dược TTB Y tế Bình Định BIDIPHAR Pharmaceutical and medical equipment Joint Stock Company 4100259564 Công ty CP Lương thực Bình Định Binh Dinh Food Joint Stock Company 4100259042 Công ty CP Vật tư kỹ thuật Nơng nghiệp Bình Định Binh Dinh Agriculture Technic Material Joint Stock Company 4100259074 Cơng ty CP Thủy Sản Bình Định Binh Dinh Fishery Joint Stock Company 4100301209 Công ty TNHH Đá Granite Viễn Đông Vien Dong Granite Stone Company 4100301216 Công ty TNHH Thủy Sản An Hải An hai Fishery Limited Company 4100708731 10 Công ty TNHH MTV Tân Anh Tuấn Tan Anh Tuan Limited Company 4100600576 11 Công ty TNHH Green ceramic Việt Nam Viet Nam Green ceramic Joint Stock Company 4100385343 12 Công ty CP Hùng Long Hung Long Joint Stock Company 4100752836 13 Công ty CP Hoàn Cầu Hoan cau Granite Joint 4100440643 73 Order Individual / Corporate customers English name Tax code/ID Granite Stock Company 14 Cơng ty CP Giày Bình Định Binh Dinh Foodwear Joint Stock Company 4100258761 15 Công ty TNHH Đức Hải Duc Hai Limited Company 4100558966 16 Công ty TNHH Tân Đức Hải KH New Duc hai KH Limited Company 4201521465 17 Công ty TNHH Nguyên liệu Red Sea woodchips giấy Hồng Hải Limited Company 4101216179 18 Công ty TNHH Dpack Dpack Limited Company 4101496617 19 Công ty TNHH Đông Lạnh Quy Nhơn Quy Nhon Frozen Seafoods Joint Stock Company 4100483485 20 Công ty TNHH Vân Trinh Van Trinh Limited Company 4101131983 21 Cơng ty TNHH Hồng Anh Quy Nhơn Hoang Anh Quy Nhon Limited Company 4101435124 22 Công ty TNHH Mãi Tín Bình Định Evertrust Binh Dinh Limited Company 4101531526 23 Công ty TNHH Công nghiệp ABLE Tây Sơn Able Industries Tay Son Limited Company 4101479530 24 Công ty TNHH XNK TH Hải Đăng Hai Dang Export Import Limited Company 4101461646 25 Công ty TNHH Á Châu A Chau Limited Company 3602000157 26 Công ty TNHH DV XNK Thành Hưng Thanh Hung Imexco Limited Company 4101435558 27 Công ty CP Khống Sản Bình Định Binh Dinh Minerals Joint Stock Company 4100390008 28 Dương Thị Út Huyền Duong Thi Ut Huyen 0521890002829 74 Order Individual / Corporate customers English name Tax code/ID 29 Trương Thị Lan Phương Truong Thi Lan Phuong 211840434 30 Võ Thị Thu Vo Thi Thu 215031547 31 Châu Minh Hùng Chau Minh Hung 211145267 32 Đặng Quang Thạch Dang Quang Thach 052091002206 33 Nguyễn Thùy Dung Nguyen Thuy Dung 215016545 34 Lê Thị Hồng Nhung Le Thi Hong Nhung 211328644 35 Nguyễn Quốc Tuấn Nguyen Quoc Tuan 052079002827 36 Võ Thị Triều Thủy Vo Thị Trieu Thuy 211894523 37 Trương Tấn Hưng Truong Tan Hung 215302362 38 Đỗ Vũ Anh Do Vu Anh 211850410 39 Lê Thị Huyền Trang Le Thi Huyen Trang 052187000272 75 Appendix SURVEY RESULT TABLES Table 4.7 - Customer satisfaction results No Factor Completely agree Agree Neutral Disagree Strongly disagree Cs1 33% 44% 23% 0% 0% Cs2 18% 33% 38% 3% 8% Cs3 23% 31% 31% 13% 2% Source: Survey report at BIDV Binh Dinh Table 4.8 - Tangibles survey results No Factor Completely agree Agree Neutral Disagree Strongly disagree Ta1 49% 18% 33% 0% 0% Ta2 64% 31% 5% 0% 0% Ta3 46% 44% 5% 5% 0% Ta4 38% 26% 36% 0% 0% Ta5 26% 41% 21% 13% 0% Ta6 33% 44% 14% 9% 3% Ta7 36% 44% 13% 0% 7% Source: Survey report at BIDV Binh Dinh 76 Table 4.9 - Responsiveness survey results No Factor Completely agree Agree Neutral Disagree Strongly disagree Res1 59% 26% 15% 0% 0% Res2 46% 33% 21% 0% 0% Res3 49% 44% 5% 2% 0% Res4 56% 26% 18% 0% 0% Source: Survey report at BIDV Binh Dinh Table 4.10 - Assurance survey results No Factor Completely agree Agree Neutral Disagree Strongly disagree As1 64% 21% 13% 2% 0% As2 51% 26% 23% 0% 0% As3 38% 49% 13% 0% 0% As4 44% 36% 20% 0% 0% Source: Survey report at BIDV Binh Dinh Table 4.11 - Covenience survey results No Factor Completely agree Agree Neutral Disagree Strongly disagree con1 31% 46% 18% 5% 0% con2 26% 62% 12% 0% 0% con3 31% 46% 15% 8% 0% Source: Survey report at BIDV Binh Dinh 77 Table 4.12 - Price competitiveness survey results No Factor Completely agree Agree Neutral Disagree Strongly disagree Pc1 10% 36% 31% 13% 10% Pc2 13% 31% 44% 5% 7% Pc3 18% 15% 41% 10% 16% Source: Survey report at BIDV Binh Dinh Table 4.13 - Knowledgeable consultant team survey results No Factor Completely agree Agree Neutral Disagree Strongly disagree Ct1 23% 31% 41% 5% 0% Ct2 18% 41% 38% 3% 0% Ct3 5% 28% 36% 21% 10% Ct4 0% 0% 41% 38% 21% Source: Survey report at BIDV Binh Dinh