Profile of Bank
Discuss about the Case Study of Royal Bank of Scotland.
The Royal Bank of Scotland is one of the retail banking kind of subsidiaries of The Royal bank of Scotland Group plc together with the Ulster and NatWest Bank (“Royal Bank of Scotland Online – Bank Accounts, Mortgages, Loans And Savings”). The respective bank has more than 700 branches that is mainly in Scotland as well. The bank was founded in the year 1727 and the headquarter is based in Edinburgh, Scotland, UK as well. The number of employees who are working in the Royal Bank of Scotland are 71200 and the bank deals with various products and services such as consumer banking, finance and insurance as well.
There are different kind of customer complaints that are faced by the different customers regarding the different banking services. The customer complaints are described as follows:
Hidden or Excessive amount of fees is the one and prior customer complaint that in RCB, there were different complaints regarding the excessive amount of charges that were taken intentionally. There are various times when the customers are not being aware of the certain kind of charges such as the overdraft kind of protection. This kind of issue takes place when there is insufficient amount of fund and there will be different charges that are incurred and the customers are charged roughly around $35 per transaction.
The bad kind of customer service is the second kind of complaints from the various customers of the Royal Bank of Scotland wherein it was noticed that there were different customers who were unhappy with automatic payments that were appearing on different wrong dates and this has caused the banks to charge them fees. Furthermore, it has been seen that the customers get frustrated in handling such kind of issues and this has affected their brand image of the company as well.
Checks or the funds bouncing is the other issue or the complaint that has to be ascertained as this occurs when there is merger of the bank with the other bank and this causes bouncing of the checks of the customers of such bank as well. The customer service provided in the bank is the other kind of unsatisfactory service as the different employees on the desk is not that knowledgeable in nature as well.
Mortgage and loan issues is the other major issue that has been faced by the different kind of customers in the respective bank. Furthermore, it has been noticed that there was an instance from the customer wherein he/she was unhappy with the mortgage and loan issues and this created huge issues along with making the loans more genuine in nature as well. Lastly, there are different kind of bad branch experiences that has been encountered by different customers and this has affected the entire brand image of the respective bank as well.
Main Customer Complaints
Therefore, these are the different kinds of customer complaints that has been faced by the individuals and this has affected the entire reputation of the bank as well.
There are different kind of complaints from the different employees that have been faced by them in this respective bank. The different types of employee complaints are as follows:
Pay or the salary structure is the main issue that have been faced by the different employees in the organization that includes that the rise in the pay structure is not being managed in an accurate manner and this affects the morale of the employees in the organization as well (Duncan et al.). Furthermore, it has been seen that there has been no such incentives or bonus provided to the employees in the organization and this created huge issues for the employees to work in such kind of pay or rate as well. It has been a year wherein the company has not increased the payment of the employees and this has affected the morale of the employees in a negative manner as well (Chen and Chieh).
Furthermore, there is no job security of the employees in the bank and this has become more prevalent in the banking sector due to outsourcing, downsizing and globalization as well. Therefore, the backlash has been such that the employees are changing their job preferences and they are leaving the job as well. The job security has been one of the major issues in the respective bank RBS and this has been a major setback of the employees and this has led them to leave the jobs as well (Ali, Kashif and Neethiahnanthan).
The long working hours are the other major issue that have been faced by the employees who are working in the respective bank RBS. Furthermore, the employees are not provided with motivation such as with proper incentive and they are being made overworked at the work as well. The toll on overworked employees includes fatigue along with whole lost of the different kinds of physical ailments and mental ailments as well (Homburg et al.).
There are different kind of variations and differences between the customer journey for online versus the traditional banking. The main and major difference between the traditional and online banking is the physical presence. The traditional banks exist physically in order to serve the different customers in the market (Kranzbühler). Furthermore, it consumes huge amount of time as the different kind of customers have to visit the banks to carry out the different kind of bank transactions such as checking the bank balance as well. The customers can only visit the bank during the working hours and this is one huge problem for them and this does not encounter any kin of e-security threats as well (McColl-Kennedy).
Employee Complaints
On the other hand, internet banks do not have any kind of physical presence as the services provided online. Furthermore, it consumes less amount of time and the individuals do not have to visit banks to check their balance. The internet or online banking is available for 24 hours and the access is huge in nature (Blázquez). Online or Internet banking is tempting target for the various hackers. It has been seen that the security is one of the major concerns faced by the different individuals or customers in accessing the accounts through internet (Verleye).
The customers do not have much time to spend money for visiting the respective banks, as there is online website of the bank that is used by them to handle the different kind of cash handling as well. In the online banking, such costs are eliminated as the banks do not have any such kind of physical kind of experience. In the internet banking, the customers do not have to stand in the queue to carry out the different kind of bank transactions as well (Wu et al.).
There are different innovative suggestions provided by the customers to the respective banks in order to improve the customer service provided by them. Furthermore, it has been noticed that in HSBC bank there has been digital transformation as there are different kind of inclusion of the various internet banking services as to gain more competitive advantage in the bank. Furthermore, in order to search out of the box idea, the Royal Bank of Scotland can adopt to be reactive to online and social conversations (Schmitt).
The customers have to improve and keep a track of the different complaints of the employees in such a manner that this will help them in managing the complaints of the customers in an effective manner (Ren, Lianping, et al.). The respective bank has to include the social media networking sites in an effective manner as this would allow the customers to file their complaints and get it sorted within a span of time. Social media has allowed the bureaucracy within the entire banking to be broken down and this would make the customers feel they have the entire control and they can take control of their own transactions in an effective manner as well (Lemon, et al.).
Furthermore, the customer journey has to be ascertained effectively wherein the end to end customer journey plays a major role and this would involve the multiple departments throughout the entire organization. It has been researched that it has indicated that only 37% of the customers believe that the banks have understood their requirements effectively and this will help them in managing their requirements in an effective manner.
Main Differences between Customer Journey for Online vs. Traditional Banking
The customer experience hierarchy model, it can be analysed that hackles and analyses the performance of the different aspects such as such as the effect and experience in an effective manner. Furthermore, it can be seen that the hierarchy model will help the customers in getting and making different innovations in an effective manner (Martin).
Easy to Go Customers are the first kind of customers who are the ones satisfied with the kind of services provided by the bank. When initially the customers face problems, they wait patiently for the bank to resolve the issues faced by the bank. Furthermore, they provide the good kind of ratings to the bank. The easy to go customers are the loyal customers whom stays with the bank for a long time and they are happy with the services at one go itself.
Grumpy Customers are the type of customers who initially are grumpy in nature as they are not happy with the services and this affects the services provided by them. However, it has been seen that these customers in the future get happy and they are being able to adjust with the different services provided by the bank. These are the high-profile customers who have different accounts in different banks.
Sadist are the type of customers who are high profile customers and they are never happy with the kind of customers with such kind of services. Furthermore, it has been seen that the sadist customers are not happy and they are not satisfied with such services as well.
|
Customers Type |
Customer 1 |
Customer 2 |
Customer 3 |
|
Body Language |
Who are basically easy to go and they are satisfied with the different kind of services in an easy manner as well. |
These are the customers who are not satisfied with the services that are provided to them initially, however in the future they are happy and satisfied with the services provided to them |
These are the person who are sadist in nature and they have problems with all the services provided by the bank and this is problematic for the bank as well. |
|
Complaint Type 1 |
ATM is not working in an accurate manner |
The complaints are related to the different kinds of saving banks and interest rates |
Their complaints are related to the comparison to the other banks wherein they have accounts |
|
Complaint Type 2 |
There are no such updates about their bank balance through their mobile application and this is problematic for them as well. |
The complaint is related to the long-term features such as fixed or long-term deposits |
Furthermore, they are not satisfied with the different services that are performed by them |
References
“Royal Bank Of Scotland Online – Bank Accounts, Mortgages, Loans And Savings.” Personal.rbs.co.uk. N.p., 2018. Web. 12 June 2018.
Ali, Faizan, Kashif Hussain, and Neethiahnanthan Ari Ragavan. “Memorable customer experience: Examining the effects of customers experience on memories and loyalty in Malaysian resort hotels.” Procedia-Social and Behavioral Sciences 144 (2014): 273-279.
Blázquez, Marta. “Fashion shopping in multichannel retail: The role of technology in enhancing the customer experience.” International Journal of Electronic Commerce18.4 (2014): 97-116.
Chen, Shih-Chih, and Chieh-Peng Lin. “The impact of customer experience and perceived value on sustainable social relationship in blogs: An empirical study.” Technological forecasting and social change 96 (2015): 40-50.
Duncan, E., et al. “Customer experience: Creating value through transforming customer journeys.” McKinsey & Company (2016).
Homburg, Christian, Danijel Jozi?, and Christina Kuehnl. “Customer experience management: toward implementing an evolving marketing concept.” Journal of the Academy of Marketing Science 45.3 (2017): 377-401.
Kranzbühler, Anne?Madeleine, et al. “The multilevel nature of customer experience research: an integrative review and research agenda.” International Journal of Management Reviews 20.2 (2018): 433-456.
Lemon, Katherine N., and Peter C. Verhoef. “Understanding customer experience throughout the customer journey.” Journal of Marketing 80.6 (2016): 69-96.
Martin, Jillian, Gary Mortimer, and Lynda Andrews. “Re-examining online customer experience to include purchase frequency and perceived risk.” Journal of retailing and consumer services 25 (2015): 81-95.
McColl-Kennedy, Janet R., et al. “Fresh perspectives on customer experience.” Journal of Services Marketing 29.6/7 (2015): 430-435.
Ren, Lianping, et al. “Exploring customer experience with budget hotels: Dimensionality and satisfaction.” International Journal of Hospitality Management 52 (2016): 13-23.
Schmitt, Bernd. “Customer experience management.” Handbuch Sozialtechniken der Kommunikation: Grundlagen–Innovative Ansätze–Praktische Umsetzungen (2016): 1-13.
Verleye, Katrien. “The co-creation experience from the customer perspective: its measurement and determinants.” Journal of Service Management 26.2 (2015): 321-342.
Wu, Pei-Ling, Shih-Shuo Yeh, and Arch G. Woodside. “Applying complexity theory to deepen service dominant logic: Configural analysis of customer experience-and-outcome assessments of professional services for personal transformations.” Journal of Business Research 67.8 (2014): 1647-1670.
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