This is a 2.5 per cent improvement from 2015. The better result is attributed to higher scores for perceived quality and perceived value. ISE Executive Director Neeta Lachmandas said: “The largely undifferentiated scores within the banks sub-sector may indicate that banks are perceived by customers to be fairly undifferentiated.” She also noted in a world where goods are being increasingly commoditised and consumers are spoiled for choice, service is increasingly being leveraged as a business differentiator. Stories of shame or glory are communicated at the speed of light and often beyond the control of businesses. What businesses can control is how consumers should experience their brands, what they can do to delight them and how to effectively resolve issues of disappointment or mismatched expectations.
The institute's head of research and consulting Chen Yongchang noted that the contact centre was identified as the channel that credit card customers engaged with the most, but were least satisfied with. When they looked at some of the reasons customers gave for their dissatisfaction, they noticed that service-related issues such as response tone, staff attitude and handling of fee waivers were mentioned.
Source:
The Straits Times
Link:
https://www.smu.edu.sg/sites/default/files/smu/news_room/smu_in_the_news/2017/Ap...
https://www.smu.edu.sg/sites/default/files/smu/news_room/smu_in_the_news/2017/Ap...
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