Improving customer services of vietnam public commercial banks,graduation thesis

STATE BANK OF VIETNAM BANKING ACADEMY FOREIGN LANGUAGE FACULTY GRADUATION THESIS Improving customer services of Viet Nam Public Commercial Banks Student : Nguyễn Hoài Thơm Student ID : 16A7510143 Class : Lecturer : Ngô Tùng Anh (MA, MBA) K16ATCA Hanoi, May 2017 DECLARATION I declare that the thesis “Improving customer services of Viet Nam Public Commercial Banks” is the result of my research work and I am the sole author of it The work was done under the guidance of Mr Ngo Tung Anh (Ma & MBA), at Banking Academy All the data and sources used in this thesis have been indicated and acknowledged by means of references Hanoi ….…/……2017 Signature Nguyen Hoai Thom-16A7510143 i ACKNOWLEGDEMENTS The completion of this thesis could not have been possible without the guidance and supports of many people whose names may not all be enumerated Their participations are gratefully appreciated and acknowledged, especially to the following First of all, I would like to send my deepest gratitude to my supervisor - Mr Ngo Tung Anh (MA, MBA) for his enthusiastic instructions and invaluable advices in guiding me throughout difficulties Without his help, I could not accomplish this thesis Then, I gratefully thank my family, my friends, my co-workers, and my superiors at Vietnam Public Commercial Bank – Hanoi Branch, who by means shared their support, either morally and physically Last but not least, I sincerely express my gratitude to the Banking Academy, which has given me the chance to start this thesis Hanoi, ……/…… 2017 Nguyen Hoai Thom Nguyen Hoai Thom-16A7510143 ii ABSTRACT Whether it is a sea shell, a golden coin, or a digital point, money has always plays the most important role in setting value, reserving value, and as intermediary exchange It’s generally believed that money can be a measurement to a men’s success, or even an organization’s value Since, the question has always been “How to make more money?” but still, “How?” Is it the working force which has always been lacking or the technology that should be improved? Is it the internal factors that affect the way a company operates or the external one which always fluctuate? In the modern “Open World” with barely a border to exist, it is more difficult for institutions to take a step ahead in technology An extreme change in workforce would hardly make an advantage It’s even harder to prevent negative impact from the economy or market Still, as Alexander Graham Bell once said “When a door closed, another opens”, there will always be a solution The answer for all questions above is “customer services” Banking by modern understanding is a service-based industry Only in banking that a customer’s first impression on the business would make such a different in the total income and determine its position in the market Also, positive feedbacks from customer help to build up bank’s reputation, which plays the role of immune system to the bank when facing difficulties The thesis, therefore, was performed to study on the quality of customer service of a specific subject: Vietnam Public Commercial Bank – Hanoi Branch Roughly two hundred respondents who experiences customer service of Vietnam Public Commercial Bank were chosen to participate in this study by surveys and online questionnaire The data collected has shown that PVcombank’s customer service is not appreciated The thesis also pointed out the main reason and offered solutions in general and PVcombank’s case Nguyen Hoai Thom-16A7510143 iii TABLES AND FIGURES Table Table 1.1: Customer service, Customer support, and Customer care Table 2.2: Rating PVcomBank's Service 31 Table 2.3: Rating PVcomBank's service through elements 32 Figure Figure 2.1: Vietnam commercial banks' reputation ranking 26 Figure 2.2: Vietnam commercial bank's customer service ranking 27 Figure 2.3: What's matter most when it comes to customer services 27 Figure 2.4: Age of participant 29 Figure 2.5: Average incomes per month 30 Figure 2.6: How frequently customers use bank service 30 Figure 2.7: Overall of customer satisfaction 31 Nguyen Hoai Thom-16A7510143 iv LIST OF ABBREVIATIONS CRM Customer relationship management PVcomBank Vietnam Public Commercial Bank PVFC Vietnam Petro JSC PVN Petro Vietnam Corporation WesternBank Western Commercial Bank Consumer Value Store – Pharmacy CVS Cooperate CSAT Customer satisfaction CSI Customer Satisfaction Index Nguyen Hoai Thom-16A7510143 v TABLE OF CONTENT DECLARATION i ACKNOWLEGDEMENTSc ii ABSTRACT iii TABLES AND FIGURES iv LIST OF ABBREVIATIONS v PART A: INTRODUCTION 1 Rationale of the research Objectives of the study 2.1 General objectives 2.2 Specific objectives Scope of the study Methods of the study Significance of the study Structural organization of the thesis PART B: DEVELOPEMENT CHAPTER I: THEORETICAL BACKGROUND 1.1 General understanding 1.1.1 Customer service 1.1.2 Customer and related matters 1.1.2.1 Customer 1.1.2.2 Customer and consumer 1.2.3 Customer and client 1.2 Characteristics of customer services 1.3 Type of customer services 1.3.1 By process 1.3.2 By means of commute 1.3.3 By form of commute 10 1.4 Importance of customer services in banking 11 1.5 Customer satisfaction 13 Nguyen Hoai Thom-16A7510143 vi 1.6 Customer relationship manager 15 1.7 Summary 15 CHAPTER II: THE REALITY OF CUSTOMER SEVICES OF VIETNAM PUBLIC COMERCIAL BANKS 17 Introduction of PVcomBank 17 2.1 2.1.1 General introduction 17 2.1.2 Establishment 18 2.1.3 Business scope 19 2.1.4 Vision and mission 21 2.1.5 Remarkable rewards 23 2.1.6 Brief evaluation of PVcomBank 24 2.1.6.1 Disadvantage 24 2.1.6.2 Advantages 25 2.2 Evaluation of PVcomBank’s customer services 25 2.2.1 Customer satisfaction survey of Vietnam commercial banks 26 2.2.1.1 About the survey 26 2.2.1.2 Survey’s result 26 2.2.1.3 Evaluation of PVcomBank through comparing with others commercial banks 2.2.2 28 PVcombank’s customer service survey 29 2.2.2.1 About the survey 29 2.2.2.2 Survey’s result 29 2.2.2.3 Evaluation through comparing with other commercial banks 32 2.3 Summary 35 CHAPTER III: SOLUTIONS AND RECOMMENDATIONS TO IMPROVE CUSTOMER SEVICES OF VIETNAM PUBLIC COMMERCIAL BANK 36 3.1 Solutions 36 3.1.1 General solution 36 3.1.1.1 Business orientation and strategy 36 3.1.1.2 Developing good quality work – force 37 3.1.2 Specific solution 38 Nguyen Hoai Thom-16A7510143 vii 3.1.2.1 Professional Training course and internship training course 38 3.1.2.2 Investing on management software and other technologies 40 3.1.2.3 Understanding internal – potential, market, and competitors 42 3.1.2.4 Enhancing customer services strategy 43 3.1.2.5 Understanding customer’s need 44 3.2 Recommendations 45 3.2.1 To State Bank of Vietnam 45 3.2.2 To Vietnam Public Commercial Bank 45 3.3 Summary 46 PART C: CONCLUSION 48 Recapitulation and concluding remarks 48 Implications 49 Limitations and suggestions for further study 49 REFERENCES 51 Nguyen Hoai Thom-16A7510143 viii PART A: INTRODUCTION Rationale of the research It’s agreed that a company’s revenue reflected its business Still, when a company’s revenue seemed to be lower than another, it might be the time to start questioning its customer services’ quality After all, whatever type of business you are, it is the customers to make the decision to pay Undoubtedly, customer service is important, especially to banking It’s the core value of the Bank and the foundation to develop other departments in the bank From all types of business, banking may be the significant one that reflects the importance of customer services Banking is a service based industry since most of the activities involved interacting with customers in one way or another Moreover, only in banking that customer’s views on the bank would play such an important role Customers would choose to pay more for a better service and have deeper trust even if the bank is not working well This type of idea could be easily understood because how a bank can deal with a bigger problem if they cannot even solve a smaller one Also, happy customers will create the oil-spill effect, build up bank’s good reputation, and lead the whole business to success Therefore, to dig in the meaning implied behind “customer services”, bank will come on first to be example due to its significant characteristics For years, this belief has taken the most part in the worldwide trend of business, making Vietnam in general and Vietnam’s Banking system in particular to take actions immediately Also, the fact that almost all these organizations have offered the same type of services drives us to the question: How to make a customer satisfied and maintain their satisfaction? The purpose of this study was to give a brief knowledge of banking services, scale development and revenue affection, illustrate model for measuring customer satisfaction, and analyzing practical data of research subject For the reason of internship, the writer herself has the chance to experiment the situation of banking customer services, which took part in Vietnam Public Commercial Bank – Hanoi branch Thus, PVcomBank – Hanoi Branch will play the role in the research subject and a sample to illustrate the banking customer service of Vietnam Nguyen Hoai Thom-16A7510143 superior customer support to let them know you value their patronage Continually revamp your product line to ensure your company’s offerings keep up with changing customer needs A customer-oriented organization places customer satisfaction at the core of each of its business decisions Customer orientation is defined as an approach to sales and customer-relations in which staff focus on helping customers to meet their long-term needs and wants 3.1.1.2 Developing good quality work – force People are both the target and the driving force of society, the core element of all activities in the economy Especially, for the banking profession, the bank staff are the image representing the bank itself The operation of a good bank branch is due to the attitude, way of working, and professional qualification of bank officers Work attitude is the most basic element of bank staff for the impression of customers on the bank When visiting a bank, the attitude of the staff is open and friendly Friendly is the one that make the first good impression to attract customers to trade at their bank In addition, professional qualifications are an indispensable factor for staff When credit officers have high professional qualifications, knowledgeable, knowledgeable and good moral qualities, it is unreasonable that the work does not achieve great results Being able to master the professional skills helps employees to analyze and understand the financial situation of their customers, make good loan decisions and minimize risks for the bank Improving the virtues of banks is a matter for banks to pay attention to because it makes the banking operations go smoothly, openly and transparently Conversely, if the banker does not have one of the above, the banking activity will be underdeveloped, improper and unprofessional operation will lead to many bad consequences for the bank Therefore, at present, they should pay special attention to the development of the level of staff in the branch, such as: • Organizing training courses on communication skills: The classroom should be open at a reasonable time to create a comfortable, accessible environment for employees • Opening training courses to improve professional qualifications and ethics, encourage staff to learn more skill classes Nguyen Hoai Thom-16A7510143 37 • Organizing the exchange between the transaction offices so that the employees have the opportunity to meet, exchange, share experiences, join the collective spirit, • Launching commendation contests to promote the spirit of working at the branch • Organizing tours to make the staff feel comfortable with the job, love the job, love the company, sticking to such members will be more effective 3.1.2 Specific solution 3.1.2.1 Professional Training course and internship training course No matter how great the product is or how talented the staff are, one of the things that customers are most likely to remember is the direct interaction they have with the bank This also means that the customer service team is often the face of the bank and customers’ experiences will be defined by the skill and quality of the support they receive A strong bank will already have great customer relationships but a smart bank will always be asking “What is good customer service?” If banks are not constantly on the lookout for opportunities to improve customer service, then their relationships will stagnate Professional Training courses and internship training courses seem to be a good solution With these courses, banks can actively prepare for staff to handle every situation, which would improve the overall customer services quality Still, it would be costly without effectiveness if which are not carefully considered A test is recommended before the actual course to rate whether they need it or not Professional training course is designed for bank’s employees, who have already had experiences with customers and how to handle problems The internship training courses are made for college students who are going to work at the bank after the internship This course would teach them about the products along with required skills for the job Whether it is the training course for bank’s employees or for the college students that would be a bank employee in the near future, participants have to have the following points Nguyen Hoai Thom-16A7510143 38  Empathy, patience and consistency These are characteristics that bank’s customer care team need to have Some customers will be irate Others will be full of questions And others will just be chatty Bank’s staff must know how to handle all of them and provide the same level of service every time  Adaptability Every customer is different and some may even seem to change opinions by second Staff should be able to handle surprises, sense the customer’s mood, and adapt accordingly  Clear communication Staffs have to ensure that customers understand them correctly You don’t want your customer to think he’s getting 50% off when he’s actually getting 50% more product authentically Staff should stay cheerful no matter what and never end a conversation without confirming the customer is satisfied  Work ethic Customers appreciate who will see their problem through to its resolution  Knowledge Ultimately customers rely on bank’s staff for their knowledge of products Still, being honest when customer does not know is necessary • Remain calm in every situation “The customer’s always right” The ability to swallow one’s pride and accept blame or negative feedback is crucial Remain calm no matter what happened would show how professional they are in handling problems • Listening Listening skills are just as important as communication skills above Listen carefully to the customer to know exactly what she needs and how you can help her Listening also is a way to make customer feel cared and comfortable, which would be a good impression These courses can be developed by the banks themselves or have a 3rd party to carry out Still, it is recommended for banks to self-develop their own program that would suit their situation most with less money to spend Here are some practical Nguyen Hoai Thom-16A7510143 39 customer service training ideas, exercises and activities that can help bank in developing their training course • "Stepping into the shoes of your customers" exercise Ask your staff to identify their key groups of customers and then ask them to ‘step into the shoes’ of their customers Get them to think about a specific customer, to establish what their needs are at every stage of the process This will be from making initial contact with you, through to the service or product they buy from you, as well as the final departure and after-sales service Capture the learning and the suggestions for change to pass these on to your management team for potential implementation In addition, ask the staff to identify ways that they can demonstrate ‘going the extra mile’ to help the customer This will help them commit to a personal change from this exercise • Experiencing your service as a customer Consider getting representatives of your staff to fully utilise bank services, or to purchase one of your products Debrief their experience What worked well, what could have been better? In addition, get them to think about what they can to apply these insights into their particular role The objective is to improve the element of the service or product they deliver • Viewing competitor customer service Run some practical activities that get staff to telephone a competitor to make an enquiry, purchase a small item, or utilise their service This type of activity usually helps people to criticize customer service from a non-threatening perspective As a result, this enables them to consider what they could better within their own organization This type of activity can help to change perceptions and mindsets 3.1.2.2 Investing on management software and other technologies Technology has had a profound impact on the retail industry, enabling the “justin-time” linking of all parts of the production chain, eliminating tedious mistake-prone counting of products in stock, and increasing the efficiency of cashiers with improved visuals, automatic-scanning, and change-calculating registrations Signage and product price changes will be accomplished through a central computer within a few years, automatically updating prices and inventory levels throughout a store, territory, region, Nguyen Hoai Thom-16A7510143 40 or company within minutes However, installing or upgrading technology requires a significant initial investment with payback occurring over months and years Success in a low cost, maximum convenience market requires extensive use of technology Bank’s website is usually the customer's first exposure to your company, so its homepage should be personal and user-friendly Bank should include staff bios or embed a Twitter feed to build an intimate relationship with customer and consider these online tools • Customer Relationship Management (CRM) Software Programs like Microsoft Access, Salesforce.com and Oracle collect important consumer background, including search history and time spent online, says Kumar If you're selling an Internet-based service, knowing your customers' operating systems or connection speeds will reveal their intent for the product, give some context to you concerning their complaint and strengthen the company-consumer relationship • Social Media Think of Facebook and Twitter as "listening posts," says Burns People love to chat about their recent purchases and experiences, so why not tune in? Still, it is necessary to be cautios and mindful that those conversations may not represent the majority and should be put into context • Online Reviews tools The blogosphere can be a cruel place, but embrace sites like Yelp and CitySearch for their comprehensive feedback and seize the opportunity to respond to customers It's a "way to engage in a two-way dialogue," says Burns, and should be used for problem prevention and customer retention • Mobile Strategy Customers expect on-the-go service, and that means you need to be mobileready, Fromm says Go green, like Apple, and email receipts, or follow the southern department store Belk, whose mobile address allows traveling customers to text in their feedback Nguyen Hoai Thom-16A7510143 41 3.1.2.3 Understanding internal – potential, market, and competitors Sun Tzu in "The Art of War" once said: “If you know the enemy and know yourself, you need not fear the result of a hundred battles If you know yourself but not the enemy, for every victory gained you will also suffer a defeat If you know neither the enemy nor yourself, you will succumb in every battle.” The same thing goes for business It is necessary to know what and who you are fighting with It is even more important to know what will determine your victory, which is the market in this case These are some recommendations on how to doing that  Conducting market research Market research involves collecting and analyzing information about your market, including your customers and competitors It is vital to research any new market you are moving into to avoid wasting time and money on failed projects There are main ways to conduct market research  Desk research - using existing information from the Internet and industry publications  Field research - gathering the information yourself using surveys, questionnaires and other research tools  Commercial agencies - hiring external organizations that carry out the research for you  Assessing what competitors offer Researching your competitors is easier than it may seem - for example, you can simply collect any flyers and price lists they produce for customers, read their online material, or even buy their products and services to compare them with your own  Advantages and disadvantages An easy way to find what is your advantage and your rival advantage, which is your disadvantage, is to answer the following questions  Is their interest rate lower? Nguyen Hoai Thom-16A7510143 42  Do they offer a better condition?  Is their customer service highly regarded?  Is their marketing material more engaging? Ask yourself these questions to see where you can improve Being critical of your own business and taking inspiration from your competitors can help you be more competitive  SWOT analysis A SWOT analysis can be a useful way to assess what is bank’s position and its rival in the market It is a commonly and easily used business analysis tool A SWOT analysis can help you to:  build on strengths (S)  minimize weaknesses (W)  seize opportunities (O)  counter-act threats (T) 3.1.2.4 Enhancing customer services strategy Bank staff may have the skills and know-how to interact with customers Still, “what organizational strategies can bank employ to please customers?” The answer is “Practice proactive customer service by making customers happy before they come to the bank with problems” The following points are some suggestions  Get personal Customers want to feel like they have access to real people, not bots and FAQs This means that bank should offer more than just automated email responses and not let telephone prompts or website send them down a rabbit hole Bank should take full advantage of social media (such as Facebook, Twitter and Yelp) and write responses when customers post on bank’s page Posting photos and bios on website seems to be an effective way to show how active bank is and customers are working with real people from bank  Be available Part of the personal touch is making sure customers can reach the bank For example if one’s business is primarily online, meeting in person occasionally with local customers and offering video calls (such as Skype) for those farther away would Nguyen Hoai Thom-16A7510143 43 be a good option Work early and late when needed, especially if customers are in different time zones Even providing customers with physical address helps build their trust and reminds them that bank exists off the Internet as well  Cater to customers Make sure you are fully meeting your customers’ needs Consider assigning reps to specific customers so they can build a relationship Offer VIP treatment for your best customers to let them know they are appreciated What special services might your customers like? Set up focus groups, interview customers, or run a survey to get ideas  Create communities Your customers will feel even more valued if you treat them as important members of a community You can bring various customers together in numerous ways, including webinars, interactive websites, social media, trade shows and conventions And don’t forget that while your customers come to these forums to learn from you, you can learn as much–if not more–from them 3.1.2.5 Understanding customer’s need One of customer service’s measure tool is customer satisfaction, which can only achieve when what provided meet needs As a result, improving a bank’s customer service has to be done along with finding customer need However, “greedy” is human’s nature and “needs” is uncountable and limitless Bank’s job here is to analyze the needs of customer and to know which need is more important and which need has to be satisfied first To so, it is required a whole system of customer service to specialize the job of collecting feedbacks, analyzing, and giving instant responses Conducting investigation such as a survey is a good way to actively collect feedbacks from customer These surveys can be done in the tradition model with pen and paper or it can be done with the help of technology like online survey With the traditional one, banks may spend less than the other with better accuracy Still, it takes more time to analyze the data and harder to get access to customers The online survey, on the other hand, has an easy access to customer and less money to spend but its accuracy needs to be considered Therefore, banks should combine these two surveys in order to have the best result Nguyen Hoai Thom-16A7510143 44 Another way to actively collect feedbacks is by the staff Bank’s employees are those who directly have contact with the customer Along with the advice for choosing products and instructing in using one, employees can ask customers for their opinions of the products By exploiting the information through the conversation, employees would have an accurate understanding on what customers want Still, this is a long process and a job of language which requires employee to have certain skills Whether it’s a phone survey at the end of a service call, an email survey sent directly from bank’s CRM tool, or a form on the “Contact Us” page of bank website, creating a means for customers to give feedback makes it easier for banks to learn what needs improvement It also helps keep unhappy customers from voicing their displeasure on highly visible places like bank’s social media pages 3.2 Recommendations 3.2.1 To State Bank of Vietnam The State Bank is a regular bridge between credit institutions and the government Therefore, the State Bank needs to keep abreast of the reality and need guidelines, guidelines and adjustments in time  Firstly, the State Bank should have appropriate orientation policies to orient the development of service oriented banking system  Secondly, the State Bank of Vietnam needs to issue relevant legal documents to protect the interests of customers, thus contributing to the development of the service bank  Thirdly, the State Bank should take measures to develop the banking information system, improve the operation efficiency of CIC credit information center, update borrowers, to know customer information to avoid credit risk This will be a great help in improving the banking service  Especially, the State Bank of Vietnam should conduct periodic inspections, review violations and punish reasonably 3.2.2 To Vietnam Public Commercial Bank To improve customer service, PVcomBank should consider implementing the following points  First of all, PVcomBank should consider improving staff training and internship Nguyen Hoai Thom-16A7510143 45 training course to suit the changing market and customer needs In the recent time, PVcomBank has put more effort into improving customer service They have developed an internship training program that included training selling and communication skill, which has yet been done by other banks However, Vietnam's banking market changed rapidly and continuously while these courses of PVcomBank failed to catch up The syllabus and instructional model given are still invisible and cursory textbooks since 2013 and there has not been any change other than the presentation The application of such old customer service standards makes it difficult for employees to understand the psychology and customer needs, especially in the third technology revolution today  Secondly, PVcomBank needs to reorient its goals Since its inception, PVcomBank has set a goal of restructuring and expanding its business to the forefront This means that PVcomBank is not really interested in customer care and customer service That is why PVcomBank has not built a customer database and the number of loyal customers is low The number of customers coming to PVcomBank is not small but the number of customers returning here for the second time is not worth the money PVcomBank should consider placing your attention where appropriate  Finally, PVcomBank needs to improve its information management system At present, PVcomBank has built a customer base based on T24 software However, this software has many shortcomings due to difficulties in accessing customer information (visitors usually have to wait to hours to receive information after submitting the request) In addition, PVcomBank does not yet have a measure of customer satisfaction 3.3 Summary Delivering an exceptional customer experience is akin to the two hikers attempting to outrun a bear One hiker says to his companion, “I don’t have to beat the bear, I just need to run faster than you.” The measure of a superb customer experience relates directly to the extent your company can exceed the competition when it comes to your mutual customers’ expectations Being a little bit better gives you an edge, but it is an advantage that can be quickly lost as competitors copy your lead However, recreating a superior customer experience and continually improving that experience Nguyen Hoai Thom-16A7510143 46 creates a gap between you and your competitors that will be difficult to overcome The solutions given in this part would be a suggestion for PVcomBank to figure out what they need to to improve customer service Whether it is reoriented or creating a training course, PVcomBank has to consider the cost and effectiveness of the plan along with the market trend Nguyen Hoai Thom-16A7510143 47 PART C: CONCLUSION Recapitulation and concluding remarks Other similar studies related to customer services quality might have been accomplished by other researchers However this thesis still has its own uniqueness and is different in some aspects The study itself could be a reflection of Vietnam Public Commercial Bank’s customer service quality The thesis indicates the concepts of customer, customer service, and related matter through many aspects of view The characteristic of customer service is also shown Moreover, the solution for improving customer service quality in this study can be applied to others in one or other ways The survey conducted by writer was done by effort in order to give a more accurate data for evaluation and further study To sum up, the thesis has demonstrated the following points  Shortcomings After the survey on customer satisfaction for PVcomBank's services, PVcomBank has shortcomings as following  Customers rarely return to PVcombank after one use and the number of patrons is small  The quality of service at the branch is significantly lower than that of other services  Customers spend a lot of time waiting for papers to be done, which makes the service quality poor  The staff of PVcomBank usually handle problems poorly  Reasonsng  Complicated administrative procedures  Inefficient technology system  Low staff’s quality  Solutions  Improving staff training and internship training course to suit the changing market and customer needs Nguyen Hoai Thom-16A7510143 48  Reorienting and enhancing customer services strategy  Improving information management system  Understanding internal – potential, market, and competitors  Understand customer’s need Implications The main purpose of this thesis is to gain a better understanding of the customer services and aim to demonstrate some recommendations and solutions to upgrading customer service of Vietnam Public Commercial Bank – Hanoi Branch By investigating and analyzing collected data from two main surveys, this thesis has shown an overall view about pros and cons of PcomBank’s customer service Feasible solutions and recommendations have been given to help PVcomBank tackle its current difficulties The outcome of the thesis will be useful for PVcomBank to enhance the customer service This thesis would also be a foundation for other studies as it provides a general understanding on customer services and related Limitations and suggestions for further study For limitations Due to the limitation of a thesis, there are other important aspects that has not be included in this study, such as:  Quality assessment models for customer service  Factors affecting the quality of service  The psychology of customer satisfaction Moreover, the study itself has shortcomings such as the low number of survey’s participants, which could affect the accuracy of the result As mentioned above, the main purpose of this thesis is to gain a better understanding of the customer services and aim to demonstrate some recommendations and solutions to upgrading customer service of Vietnam Public Commercial Bank – Hanoi Branch This means that the study is particularly designed for Vietnam Public Commercial Bank – Hanoi Branch and its result needs to be reconsidered before implicating on other cases For further study  “crmsoftware360.com” - A database of over 100 CRM programs, reviewed by Nguyen Hoai Thom-16A7510143 49 industry and business size that will improve your customer service online  Customer Lifetime Value by V Kumar Now Publishers, Inc., 2008 This book details Kumar's research and support for forward-thinking strategies about detecting which customers will be most profitable in the long run – and how to retain them His other books can be found here  Groundswell by Charlene Li and Josh Bernoff Harvard Business School Press, 2008 This book, authored by social media experts at Forrester Research, offers practical strategies for companies looking to tap into social technologies like blogs, Facebook and YouTube Nguyen Hoai Thom-16A7510143 50 REFERENCES  PVcomBank - 2014, 2015, and 2016 - Annual report, statistic report of Vietnam Commercial Bank - Hanoi Branches  PVcomBank - 2014, 2015, and 2016 - Annual report, statistic report of Vietnam Commercial Bank  Accenture strategy, 2015, Banking Customer 2020: Rising expectations point to the everyday bank  PVcomBank - 2014, 2015 and 2016 - Consolidated balance sheet report of Vietnam Commercial Bank  PVcomBank - 2014, 2015 and 2016 - Consolidated balance sheet report of Vietnam Public Commecial Bank - Hanoi Branches  Chris Joseph, article, 2016, Customer – Client; Internal customer – External customer  Nguyen Hoai Thom, 2016, Customer satisfaction survey of Vietnam Public Commercial Bank  Irina Bena, Management & Marketing (2010) Vol 5, No 2, pp 143-150, Evaluating customer satisfaction in Banking services  Mathew Joseph, Vol.1, No.1, 2005, Financial service management; Importanceperformance analysis of UK and US bank customer perceptions of service delivery technologies  Paul W.; Neil T Bendle; Phillip E Pfeifer; David J Reibstein, 2010, Marketing Metrics: The Definitive Guide to Measuring Marketing Performance Nguyen Hoai Thom-16A7510143 51