ASSIGNMENT 1
CUSTOMER SATISFACTION AT BRITE BANK
Brite Bank commenced operations a couple of years back and has a network of 25 branches, primarily operating in Mumbai, Pune, Nashik, Nagpur and some district capitals in Maharashtra. Started by a group of industrialists, the bank has been able to quickly commence operations and currently has more than 25,000 customers in its fold. The top and middle level management have been recruited from large private sector banks and are industry veterans. Ms Sneha Kulkarni, COO was a high flyer at one of the largest private sector banks, when she joined Brite. Her vision was to create a work force that could be nurtured on the vision and values of Brite Bank. Hence, all branch level officers and assistants were recruited and trained by the bank. For this, the bank tied up with AK Institute of Banking & Finance, a training institute, to provide initial training to probationary officers and Banking Assistants recruited by the bank. Advanced training was imparted by Brite’s own training team, both at the bank’s corporate office and at branch level. According to Brite, exemplary customer experience could be a unique differentiator to increase customer base. Large part of the initial infrastructure investment, was spent on creating an IT infrastructure which would enable the bank to quickly roll out value-added facilities like ebanking, mobile banking and enable tracking customer transactions, trends and behaviors. The bank scaled up to 25 branches with all these facilities and there was pressure from the top management to expand into other states. However, Sneha wanted to be sure that the customer experience was exemplary, before she could confidently increase the network. She appointed M/s B-Z consulting, a small, but good market research outfit, to conduct a dipstick study on customer perceptions. The customer feedback survey was