We have often witnessed consumers cribbing over the bank services available in Pakistan. However, we have yet to gather any solid feedback from banks on measures to improve the bank services. For this purpose, we have analyzed the industry and the bank services closely and present the following areas which need improvement.
- Dedicated relationship managers focused on customer needs and bank services rather than pressing for sales targets. This will lead to higher resolution of customer queries and a greater level of satisfaction with the bank services available.
- Improvement in branch infrastructures to create a better banking experience for consumers. Most branches are still maintaining an orthodox outlook with old furniture and shabby interiors. To improve the bank services provided to their clientele, banks should invest in the infrastructure of their branches to maintain a fresh and forward-looking outlook.
- Improvement in Internet Banking services to provide the comfort of banking from home or office. This should include addition of value services such as information updates, customer queries and greater options for payments and fund transfers. Although internet banking has gained momentum in Pakistan, we feel that it has yet to reach its true potential to serve as an epitome of quality bank services in the industry.
- Greater clarity on banking regulations and requirements to remove the hassle of delays in everyday transactions. This is the major reason for customer complaints and dissatisfaction. The ignorance of banking requirements and procedures creates discomfort and agitation amongst customers. Bank staff should clearly guide their clientele about the regulations to improve the bank services in Pakistan.
Although most consumers face specific problems and issues with their banks, we, at MyBankersOnline, feel that to improve the bank services, institutions should focus on the aforementioned areas. Basic improvements in the entire infrastructure and functioning of the bank and its staff can lead to better quality bank services and satisfying customer experience for their clientele.