Recommendations to the bank association

CHAPTER 3: SOLUTIONS TO ENHANCE THE CUSTOMER SATISFACTION

3.3.2 Recommendations to the bank association

The banking association should promote their role in the following activities:

+ Act as an intermediary in agreeing on the policies if interest rate, charge, card systems, etc. in order to avoid negative competition among banks, thus contributing to the stabilization of the market.

+ Strengthen the link between the members of the association so that they can support each other in the operation and development in a healthy competitive environment in accordance with the criteria of win-win cooperation and reduce the limitations which might be spread over the whole system.

+ Actively support commercial banks to approach, research, implement and develop new products and services in the form of training professional knowledge and organizing special topics to help commercial banks share and learn from mutual experience.

+ Expand international cooperation to take advantage of the support of international organizations in the training and development of products and services on the basis of modern technology.

(LUAN.van.THAC.si).research.FDI.customers.satisfaction.with.products.and.services.of.techcombank..bac.ninh.branch(LUAN.van.THAC.si).research.FDI.customers.satisfaction.with.products.and.services.of.techcombank..bac.ninh.branch(LUAN.van.THAC.si).research.FDI.customers.satisfaction.with.products.and.services.of.techcombank..bac.ninh.branch(LUAN.van.THAC.si).research.FDI.customers.satisfaction.with.products.and.services.of.techcombank..bac.ninh.branch(LUAN.van.THAC.si).research.FDI.customers.satisfaction.with.products.and.services.of.techcombank..bac.ninh.branch(LUAN.van.THAC.si).research.FDI.customers.satisfaction.with.products.and.services.of.techcombank..bac.ninh.branch(LUAN.van.THAC.si).research.FDI.customers.satisfaction.with.products.and.services.of.techcombank..bac.ninh.branch(LUAN.van.THAC.si).research.FDI.customers.satisfaction.with.products.and.services.of.techcombank..bac.ninh.branch

CONCLUSION

The strong development of industrial zones in Bac Ninh province has set the target of expanding FDI enterprise customers of local commercial banks, including Techcombank - Bac Ninh Branch. In addition, the increasingly competitive context of banking business also poses the necessity to learn about customer needs, factors determining the satisfaction of customers in general and FDI enterprise customers in particular.

With the research "An investigation into the satisfaction of FDI enterprise customers towards the products and services of Techcombank - Bac Ninh Branch", the objectives were presented through descriptive statistics, reliability analysis, factor analysis, regression analysis and consideration of development policy, competitive capacity in the segment of FDI customers of Techcombank and the correlations in the process of building research model. Accordingly, the main achievements of the research are presented as follows:

- Develop a theoretical framework on FDI enterprises (characteristics and role of this type of enterprise in the economy); develop a research model on satisfaction of FDI enterprises towards the quality of banking services on the basis of considering and inheriting from previous published researches.

- Evaluate the reality of satisfaction of FDI enterprise customers towards the quality of products and services provided by Techcombank - Bac Ninh Branch through testing the research model on satisfaction including the factors: Convenience; Serving style; Tangibles; Trust; Contact with customers; and Bank image.

- Propose solutions and recommendations to improve the satisfaction of FDI enterprise customers towards the quality of products and services of Techcombank in the coming time.

The research results above were a reliable source of input for marketing policies which helps Techcombank - Bac Ninh Branch better understand the needs of customers in general and FDI enterprises in particular as well as the evaluation of

FDI enterprises on the quality of products and services provided by the bank. This is the basis for the bank to improve the quality of its business activities and enhance the satisfaction of FDI enterprise customers more effectively.

REFERENCES

1. Do Tien Hoa (2007), Studying the satisfaction of business customers towards products and services of HSBC, Master Thesis of Ho Chi Minh City University of Economics.

2. Tran Quoc Minh (2012), Customer Satisfaction Assessment for Customer Service Quality at Sacombank Branch of Vung Tau, Master Thesis of Ho Chi Minh City University of Economics

3. Bui Pham Thanh Bình, Do Van Ninh và Nguyen Thu Thuy (2016), Customer Satisfaction Assessment for the Quality of Card Services of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) - Khanh Hoa Branch, Journal of Banking No. 23

4. Nguyen Hoang Ha (2016), Customer Satisfaction Survey for Internet Banking Services of Vietnam Joint Stock Commercial Bank for Industry and Trade - Gia Lai Branch, Master Thesis

5. Tran Phi Hoang (2014), Study the factors affecting customer satisfaction on service quality at Techcombank, Nguyen Oanh branch - HCMC. Ho Chi Minh, Master Thesis

6. Phan Huu Thang – Head of the Foreign Investment Department, Foreign Direct Investment and some proposals for the period of 2009-2010.

7. Government (2014), Decree No. 01/2014 / ND-CP, Regulations on foreign invested enterprises.

8. Congress (2014), Enterprise law No. 68/2014/QH13 9. Congress (2005), Investment Law No. 59/2005/QH11.

10. Ministry of Finance (2012), Circular No.213/2012 / TT-BTC on guiding activities of foreign investors in Vietnam market.

11. Terrence Levesque& Gordon H.G McDougall (1996), Determinants of customer satisfaction in retail banking”, International Journal of Bank Marketing,Vol.14 No.7, pp.12-20

12. Oliva, Oliver, và Bearden (1995), The Relationship Among Consumer Satisfaction, Involvement, and Product Performance, Behavioral Science, 40 (April), 104-32.

13. Parasuraman, A.V.A. Zeithaml, & Berry, L.L (1998), “SERVQUAL: A multiple-item scale for measuring consumer perception of service quality”, Journal of Retailing, Vol.64 No.1, pp.12-37

14. Xin Guo & ctg (2008), Customer Satisfaction survey to improve service performance, International Journal of Bank Marketing,Vol.14 No.7, pp.12-20.

15. Grệnroos (1984), A Service Quality Model and its Marketing Implications, Published by MCB UP Ltd.

16. Johnson, Fornell, Andreassen, Lervik, & Cha, (2001),The Evolution and Future of National Customer Satisfaction Index Models, Journal of Economic Psychology, 22(2), 217-245.

17. Andreassen & Lindestand (1998), Customer loyalty and complex services:

The impact of corporate image on quality, customer satisfaction and loyalty for customers with varying degrees of service expertise", International Journal of Service Industry Management, Vol. 9, No.1, pp. 7 – 23

APPENDIX Appendix 1: Survey Questions

Dear Sir / Madam!

First of all, thank you Mr / Ms have worked closely and use the products and services provided by Techcombank – Bac Ninh Branch in recent years. The attention of Mr. / Ms for our bank is a great honor to serve Mr. / Mrs.

Toward the development of products and services in the future, with a focus on raising the services quality and customer satisfaction, we have a small survey, to acquire the opinion of Mr. / Ms in the an assessment of the works to improve the service quality of Techcombank – Bac Ninh Branch.

We wish that he / she will take the time to answer the following question in the most objective way.

The first part: Information of the respondents

Gender : Male Female

Age: Under 22 22-30 30- 40 Other 40

Educational backgroun: College graduates University graduates Masters Doctors

Job positions: Finance and Accounting departments Export-import departments

Other departments Management

Income: Less than 7 million 7-9 million 9-12 million 12-15 million More than 15 million

The second part: Evaluation of the service quality of Techcombank – Bac Ninh Branch

Please choose the following possible answers corresponding to the comments of Mr. / Ms on the level agreed with the statements given is increasing from 1 to 5. In particular:

1. Totally disagree 2. Disagree 3. Normal 4. Agree 5. Totally agree

Factor Survey questionaire 1 2 3 4 5

Image of the bank

The bank always attaches great importance to the interests of FDI

enterprises.

The bank always keeps its prestige with

customers.

The bank always leads in innovative

and social activities.

Convenience

The bank has convenient transaction

locations for customers.

The working time of the bank is

reasonable and convenient.

The information access system is easy to use with the help of translation software, which is suitable for many

FDI enterprises.

The bank has information on foreign exchange transactions with FDI

enterprises rapidly.

credibility

The bank provides accurate services

right from the first time.‹

The bank provides services at the time

it promised.‹

The bank conducts foreign currency lending, foreign exchange trading with

FDI enterprises accurately, without errors.

The bank sends sales and transaction

documents regularly and in time.

Tangibles The bank has modern equipment and

facilities.‹

The bank has a beautiful layout.

The bank has leaflets, brochures, and pictures about its services in both

Vietnamese and English.

The staffs are dressed politely and impressively. ‹

The bank has counters with English speaking staff to serve FDI enterprise customers.

The bank has clear, error-free documents and materials which are also translated into English.

Contact with customers

The bank has a 24-hour customer

service hotline.

The bank’s staffs are always ready to

meet the needs of FDI enterprises. ‹ The bank staffs are willing to advise

customers with products that help them conduct investment projects in

accordance with the law of Vietnam.

The bank always tries to solve FDI enterprises’ problems on cultural

differences, communication, etc.

Serving Style of the staff

The bank’s staffs are able to adequately handle FDI enterprises’ complaints due

to differences in culture and language.

The bank’s staffs have good qualifications, good ability to communicate in English, and good knowledge of cultural customs of

different countries.

The bank's staffs always provide necessary service information for FDI enterprises to better understand the products with special characteristics of

Vietnamese culture.

The bank's staffs respond accurately and clearly to customer inquiries (including personal questions about the

investment law of Vietnam).

Customer satisfaction

You are completely satisfied with the

bank’s services.

You will definitely use the bank’s

services in the future.

You will recommend your friends and

family to use the bank’s services.

You are willing to wait to use the

bank’s services without complaining.

The third part: The contribution of individuals with services of Techcombak – Bac Ninh Branch in the future

He / She kindly said his personal opinion in perfecting the service quality of Techcombak – Bac Ninh Branch in the future.

………

Appendix2 : The results of data analysis Reliability

Statistics Cronbach's

Alpha

N of Items

.864 4

Item Statistics

Mean Std.

Deviation

thuantien1 3.39 1.140 337

thuantien2 3.31 1.026 337

thuantien3 3.75 1.151 337

thuantien4 3.63 1.039 337

Item-Total Statistics Scale Mean

if Item Deleted

Scale Variance if

Item Deleted

Corrected Item-Total Correlation

Cronbach's Alpha if

Item Deleted

thuantien1 10.68 7.789 .695 .834

thuantien2 10.77 8.266 .711 .828

thuantien3 10.33 7.524 .739 .816

thuantien4 10.45 8.201 .711 .828

Reliability Statistics Cronbach's Alpha N of

Items

.855 6

Item Statistics

Mean Std.

Deviation

huuhinh1 3.39 .971 337

huuhinh2 3.72 .918 337

huuhinh3 3.86 .938 337

huuhinh4 3.61 .936 337

huuhinh5 3.55 .993 337

huuhinh6 3.39 .900 337

Item-Total Statistics Scale Mean

if Item Deleted

Scale Variance if

Item Deleted

Corrected Item-Total Correlation

Cronbach's Alpha if

Item Deleted

huuhinh1 18.13 12.876 .685 .823

huuhinh2 17.80 13.725 .591 .841

huuhinh3 17.66 13.153 .670 .826

huuhinh4 17.92 13.306 .645 .831

huuhinh5 17.98 13.267 .599 .840

huuhinh6 18.14 13.368 .670 .827

Reliability Statistics Cronbach's

Alpha

N of Items

.837 4