Factors affecting customer experience at agribank yen dung branch

BANKING ACADEMY Banking Faculty - - GRADUATION THESIS FACTORS AFFECTING CUSTOMER EXPERIENCE AT AGRIBANK - YEN DUNG BRANCH Student’s name: Phan Thi Lan Chi Class: K21CLCA Intake: 21 Student’s ID: 21A4010711 Supervisor: Dr Tran Manh Ha Hanoi, May 2022 Tai ngay!!! Ban co the xoa dong chu nay!!! 17014126237691000000 BANKING ACADEMY Banking Faculty - - GRADUATION THESIS FACTORS AFFECTING CUSTOMER EXPERIENCE AT AGRIBANK - YEN DUNG BRANCH Student’s name: Phan Thi Lan Chi Class: K21CLCA Intake: 21 Student’s ID: 21A4010711 Supervisor: Dr Tran Manh Ha Hanoi, May 2022 ANNOUNCEMENT I want to declare that this thesis is my own research work All data and research results written in this thesis are truthful and have a clear origin In addition, to the references cited in the thesis, the rest are all original information of my independent, objective work that is in agreement with the situation in Viet Nam The findings have never been published or used in any other research before I take responsibility for my own research! Ha Noi, May 23𝑟𝑑 , 2022 Phan Thi Lan Chi i ACKNOWLEDGEMENTS This thesis was completed after four years of studying at the Banking Academy of Viet Nam Thank to the dedicated instruction of the teacher that I have cultivated a large amount of knowledge and other skills During the process of doing my graduation thesis, I have received a lot of help to complete my research in the best way First of all, I would like to thank Dr Tran Manh Ha, who wholeheartedly guided and gave me useful advice during a difficult time He inspired me and contributed greatly to the success of this thesis I would like to sincerely thank the teachers at Banking Academy of Viet Nam, especially the teachers of Banking Faculty, who gave us useful advice and knowledge during our study here I would like to sincerely thank all staff at Agribank – Yen Dung branch for enthusiastically guilding me in banking operations Furthermore, they had taught me neccessary soft skills and had provided essential materials for my thesis Last but not least, I would like to thank my beloved family and friends for their support Also, I would like to thank the customers who participated in the survey for this research paper, without their support, I would not have been able to successfully complete my thesis ii CONTENTS TABLE OF ABBREVIATIONS vi LIST OF TABLES vii LIST OF FIGURES viii INTRODUCTION .1 Motivation of study Research object CHAPTER 1: RESEARCH BACKGROUND 1.1 Customer experience at commercial banks 1.1.1 Definition of customer experience 1.1.2 The role of customer experience in commercial bank activities 1.1.3 Methods evaluating customer experience at commercial banks 1.1.4 Customer experience management tools at commercial banks 11 1.2 Factors affecting customer experience at commercial bank 15 1.2.1 Subjective factors 15 1.2.2 Customer factors 17 SUMMARY OF CHAPTER 19 CHAPTER 2: ANALYSIS 20 2.1 Introduction about Agribank – Yen Dung Branch 20 2.1.1 General introduction about Agribank – Yen Dung Branch 20 2.1.2 Agribank Yen Dung’s business results in the period of 2019-2021 21 2.2 Customer experience at Agribank – Yen Dung branch .26 2.2.1 List of products and services 26 2.2.2 Customers at Agribank – Yen Dung branch 27 2.3 Insights into Customer experience at Agribank - Yen Dung branch 28 2.3.1 Customer experience’s overview at Agribank Yen Dung 28 iii 2.3.2 Current status of customer experience at Agribank – Yen Dung Branch……………………………………………………………………………….29 2.4 The current situation of factors affecting customer experience 33 2.4.1 Financial capacity and executive management 33 2.4.2 Position and prestige of customers 33 2.4.3 Ability of bank staff 34 SUMMARY OF CHAPTER 34 CHAPTER 3: RESEARCH DESIGN 35 3.1 Research model 35 3.1.1 Research hypothesis 36 3.1.2 Research process 37 3.1.3 Research methods 37 3.2 Data 39 3.2.1 Data collection 39 3.2.2 Descriptive statistics 42 3.3 Research results 47 3.3.1 Cronbach’s Alpha Test 47 3.3.2 EFA Analysis 49 3.3.3 Regression analysis 52 SUMMARY OF CHAPTER 55 CHAPTER 4: CONCLUSIONS AND RECOMMENDATIONS .57 4.1 Development strategy of Agribank – Yen Dung Branch 57 4.2 Conclusions and recommendations 58 4.2.1 Recommendations for Reliability group 58 4.2.2 Recommendations for Responsiveness group 59 4.2.3 Recommendations for Tangibility group 60 iv 4.2.4 Recommendations for Assurance group 61 4.2.5 Recommendations for Empathy group 62 4.3 Limitations 63 SUMMARY OF CHAPTER 63 CONCLUSION 65 REFERENCES 66 APPENDIX 70 v TABLE OF ABBREVIATIONS Abbreviation Interpretation Agribank Vietnam bank for Agricultural and Rural Development App Application ATM Automated Teller Machine BIDV Joint Stock Commercial Bank for Investment and Development of Vietnam CCTV Closed Circuit Television CEI Customer Experience Index CEM Customer experience management CJ Customer journey CJM Customer Journey Map CRM Customer Relationship Management CX Customer experience E-mobile banking Electronic banking EM Experiential Marketing ISO International Organization for Standardization MB Military Commerical Joint Stock Bank QR code Quick Response Code SERVPERF Service Performance SERVQUAL The Service Quality Model TCB Vietnam Technological and Commercial Joint Stock Bank VND Vietnamese dong vi LIST OF TABLES Table Table’s name Table 1.1 Measuring customer experience of several authors 10 Table 3.1 Scales are encoded 38 Table 3.2 Demographic profile of the respondents 39 Table 3.3 Reliability Statistics on Independent variables 47 Table 3.4 Reliability Statistics on Dependent variable 49 Table 3.5 KMO and Barlett’s Test on Independent variables 50 Table 3.6 KMO and Barlett’s Test on Dependent variable 51 Table 3.7 Pearson Analysis 52 Table 3.8 Model Summary 53 Table 3.9 ANOVA 54 Table 3.10 Model Summary 54 Page vii LIST OF FIGURES Figure Figure’s name Figure 1.1 Customer journey 11 Figure 1.2 Customer journey map 13 Figure 1.3 Management method CEM 14 Figure 1.4 Management method CRM 14 Figure 2.1 Operating activities of Agribank – Yen Dung branch 22 Figure 2.2 Credit performance results 23 Figure 2.3 Deposit performance results 25 Figure 3.1 Model on customer satisfaction at Agribank – Yen Dung 36 Page branch Figure 3.2 Average evaluting of customers about Reliability factor 43 Figure 3.3 Average evaluting of customers about Reponsiveness factor 44 Figure 3.4 Average evaluting of customers about Tangibility factor 44 Figure 3.5 Average evaluting of customers about Assurance factor 45 Figure 3.6 Average evaluating of customers about Empathy factor 46 Figure 3.7 Average evaluating of customer’s satisfaction 46 viii