Bangladesh Bank is a trusted place for the customers to resolve their complaints about banking service, according to a new survey.
“Customers are going to the central bank due to a delay in resolving their complaints or not accepting the complaints by the banks,” said the survey conducted by Bangladesh Institute of Bank Management (BIBM).
The findings of the survey were published at a seminar titled “Automation to Handle Customer Complaints in Banks: Current Status, Clients' Satisfaction and Challenges" on Tuesday.
The survey showed that the level of customers’ satisfaction is 48 per cent by Bangladesh Bank while the level of satisfaction is 45.10 per cent by banks.
This comprehensive data suggests a varied but generally positive sentiment among the respondents who have interacted with Bangladesh Bank, showcasing the significance of diverse communication channels and satisfaction levels in addressing grievances at the central banking level.
Again, overall satisfaction of the customers regarding complaint management of the banking sector in terms of overall satisfaction with the banks' complaint management, the majority of respondents appear content.
This data suggests a generally positive sentiment towards the banks' complaint management, albeit with variations in satisfaction levels. The preference for automated/online systems highlights the growing importance of technology in addressing customer grievances while the diverse satisfaction levels indicate the need for continuous improvement in complaint resolution processes to meet customer expectations.
Md Mahbubur Rahman Alam, associate professor at BIBM who led this research said, “Customers are complaining to the regulator. It indicates that the scheduled banks have to build a relationship with customers. It's also challenging for the banks because customers feel that the banks can't solve the problems early. That's why they are going to the regulator.”
Types of complaints recorded in 2022-2023, general banking is 10.86 per cent, bank guarantee is 0.043 per cent, notes and coins is 0.022 per cent, service dissatisfaction is 0.245 per cent, legal notice is 0.014 per cent, loans and advances is 0.359 per cent, fees and charges is 0.187 per cent, local trade bill is 0.232 per cent, foreign trade bill is 0.249 per cent, remittance is 0.185 per cent, cards is 4.77 per cent, mobile banking is 1.112 per cent, internet banking is 7.720 per cent, apps banking is 16.335 per cent, ATM banking is 55.44 per cent, and miscellaneous is 2.23 per cent.