CHAPTER ONE
INTRODUCTION
Customer Satisfaction is perception of customer
about a company and in relation to whether his or her expectation is
met or not (Praline, 2007).
Over the years a feeling of discontentment among customers and
users of bank services developed gradually with regard to irregular
rendering of banks statement delay in clearing and crediting changes
lodged, failure to receive prior guidance and endless queues at the
banking hall and numerous other frustrating and organizing experiences
of customers generated dissatisfaction with the banks.
The profits declared annually by the bank generate some resentment
to their customers and other uses of the service who believed nightly
or through that the service they received from the banks are mostly
inadequate and ineffective.
Many of the bank service in Nigeria need to be received. The review
should be seen as an attempt by the banks to determine the most
effective approaches for satisfying customers needs. For instance, the
introduction of computer technology was to enhance the quality of
banking services to their customers but the rate of effective
utilization of computers still remain very low.
Many banks have also introduced e-banking, value card credit card,
and (ATM) debit card so as to eliminate necessary queues and facilitate
easy transaction. Many banks also invested enormous capital in the
construction of magnificent high head office complexes; area offices
and branches to provide suitable working condition for staff and
customers, and a the same time enhancing their corporate image. The
impact of customer satisfaction in banking industry cannot be
overemphasized, especially in the face of stiff competition, obtainable
in today’s business world. Hence the need to study the subject matter:
The assessment of customer satisfaction in banking industry. As such
emphasis of this essay shall be on this subject matter.
1.2 OBJECTIVES OF THE ESSAY
- To assess customers’ satisfaction in banking industry
- To examine the general concept of customer satisfaction in banking industry in Nigeria.
- To identify the factors militating against customers satisfaction in banking industry.
- To proffer possible solutions to the identified problems.
1.3 SIGNIFICANCE OF THE ESSAY
The study will be useful to players in the banking industries as
well as students as they utilize the findings of this essay.
The firms in the banking industry who may wish to sue the findings
as a basis for formulating policies aimed at improving customer
satisfaction will really find this essay useful as they utilize the
findings.
Students as well as private individual who may wish to use this
essay as a reference material or a spring board to undertake their own
work would find this essay really significant.
1.4 SCOPE OF THE ESSAY
The essay covers the assessment of customer satisfaction in banking
industry as well as the challenges militating against customers’
satisfaction in banking industry. The essay equally proffers
recommendations to the challenges confronting banking sector in their
bid to effectively satisfy their customers.
1.5 LIMITATION OF THE ESSAY
Time: Although time is vital
for one to get accurate and up-to-date data, this cannot be achieved
(being a student) because of academic stress.
Finance: Another constraint is
finance to conduct a research of this nature. Money is essential to
enable travelling to various branches of different geographical
locations and buy the necessary materials for this study. But it is
factual that there is nothing like “enough money” is the country.