Towards Improving Banking Services Quality
4.
Annexure –
The Problems in Banking -
Real Stories of Customer Frustrations:
Lessons for Lean Banking
This annexure highlights real-life
instances of customer dissatisfaction to identify systemic inefficiencies in
banking services. Each scenario is analysed to derive insights and propose
actionable improvements using Lean principles.
Case Study 1: Login and Transaction
Password Mismatch
Scenario:
A customer encountered repeated issues
with net banking due to confusion between login and transaction passwords.
Despite entering the correct credentials, the app rejected the transaction
password.
Analysis:
·
Poor user interface
(UI) design failed to clarify password types.
·
Ambiguous error
messages compounded the confusion.
·
App design lacked
user-focused testing.
Conclusion:
Banks must design user-centric
interfaces that provide clear instructions and error prompts. Lean principles
advocate for continuous app testing to simplify user interactions and enhance
the digital banking experience.
Case Study 2: Disputed Credit Card
Statement
Scenario:
A retired banker discovered a wrong
debit of ₹4,846 in their credit card statement. Despite repeated follow-ups
with the bank, the issue remained unresolved, and the customer received an
unsatisfactory closure message.
Analysis:
·
Ineffective
grievance redressal processes.
·
Fragmented
communication between departments.
·
Neglect of customer
service, even for loyal, long-term clients.
Conclusion:
A streamlined grievance system with
clear escalation paths is crucial. Lean banking principles emphasize faster
resolution times and addressing root causes of errors, fostering trust and
transparency.
Case Study 3: ATM Card Charges on
Pension Account
Scenario:
A retired customer noticed an
unexpected ₹295 debit from their pension account for ATM card usage. The bank
provided no prior notice or justification for the fee.
Analysis:
·
Lack of
transparency regarding charges.
·
Failure to provide
fee waivers for specific customer categories, such as pensioners.
·
Weak customer
engagement practices.
Conclusion:
Proactive communication about charges
and their rationale is essential. Lean approaches, such as automated
notifications and personalized outreach, can enhance customer satisfaction and
reduce misunderstandings.
Case Study 4: Debit Card Renewal
Intimation
Scenario:
A customer realized their debit card
was about to expire and had not received any renewal notification, risking
service disruption.
Analysis:
·
Lack of automated
alerts for expiring services.
·
Potential service
interruption caused by manual dependency.
Conclusion:
Automating renewal notifications
ensures uninterrupted service and improves customer experience. Lean tools can
eliminate manual errors, enhancing operational efficiency.
Case Study 5: App Malfunction During
Emergency
Scenario:
A retired banker faced app malfunctions
while trying to transfer funds urgently during a family emergency, experiencing
repeated "technical error" messages.
Analysis:
·
Poor system
reliability and testing.
·
Inadequate
real-time technical support.
·
Significant
emotional and practical impact on customers during emergencies.
Conclusion:
Banks need to ensure robust testing,
real-time monitoring, and efficient support systems to avoid critical failures.
Lean methodologies, such as Value Stream Mapping, can identify inefficiencies
and prevent service outages.
Final Insights
The recurring challenges highlighted in
these case studies underscore the systemic inefficiencies in current banking
processes. Adopting Lean banking principles — including process optimization,
customer-focused design, and proactive communication — can significantly
improve service quality and customer satisfaction.
By prioritizing value creation and
minimizing waste, banks can build a more reliable, transparent, and efficient
system for their customers.
I welcome your comments, questions and suggestions.
Warm regards,
Keshav Ram Singhal
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