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Care for the Customer Needs Build the Bank of Process

2007-8-13

 

By Cui Yuqing  Economic Daily

From mid May, CMBC quietly started its “Quality Service Festival” that is to last for about four months, and the event has aroused interests from its competitors. From preparation to implementation, CMBC had put in every effort, however, its manager from the Retail Banking Department said: “it is a silent reform with profound meanings”

Elevating service quality

The banking business falls into the service industry, as everybody knows. But “The banking industry in our country is still far from the kind in the modern sense” the reporter is so told by a financial man who has been in the banking business for years.

“In reforming the banks for providing better services, the most difficult part will be to change the minds.” Mr. Gao Feng, the Vice General Manager of CMBC Retail Banking Department, said, “the modern banking system requires the flow design to be customer centered – it should not only be spoken about but also include making changes to our front, middle and back offices at the same time.”

In the recent years the China’s banking industry has been obsessed with the question on how to build “bank of process”.

As the market grows more mature, the whole industry began to smell the gun powder among the competitors, for the pressure is not only from the domestic banks but also from their foreign counterparts. The battle for financial products market is now at the white heat, and the competition on the single product is no longer able to sustain the advantages in the long run. “The experience made us understand that the service quality will become the intangible assets of the bank, it means the image of our brand and the production force of the bank”, Gao Feng suggests, “the next round competition will undoubtedly be centered upon the brand building depending how we improve the service quality.”

We were told that CMBC’s increased awareness on service is a result out of the company’s reforms to the business, the retailing and the functions of the branches in the recent years. At the same time, the CMBC sales, the financial management and service teams were keeping themselves abreast with the reforms, hence the initial success in the experimental work for building the “bank of process” has come into being. We also learned that within CMBC, the business process customized to meet the market and the client’s requirement is being improved, and the relevant assessment and incentive policies will be successively issued. These positive changes have made the fundamental improvement on customer service quality possible.

When you have realized service provision will be an essential part of the banking business competition, you also understand it is a system engineering, which cannot be accomplished on one department, but requires the concerted actions and cooperation of the front, the middle and the back offices of the whole bank. The pronouncement for the event of “Quality Service Festival” is “We care for our customer’s needs, and do our best to meet all your requirements; we cherish your comments, and will improve our service to the highest standard; our greatest desire is to benefit our customers with our wisdom.” The true meaning behind these lines is the bank will conduct market survey and prescribe suitable treatment based on the customer feedback from different channels, which will be mainly targeted at reengineering and redesign of the internal processes that are irrational, inefficient and not customer-focused. Wang Gang from the Organizing Office for the “Quality Service Festival” implies that such a requirement will mean a great many “invisible efforts” to be made within the bank, and “the whole process will not go on in fanfare but contain the gradual changes. While the final results will to let every customer experience such changes as they walk into any of our outlets.” Although the “Quality Service Festival” is only a promotional event, the planners believe it will maintain a long-term effect. The event is only a chance for action, but the changes to the perception and the process design initiated by it will continue.

 

 

 

 

 

 

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