Most Common Issues in Banking and a Perfect solution for it

Most Common Issues in Banking and a Perfect solution for it

The field of Banking is so vast and particularly during this current era it has changed out a lot actually from the way it’s operating to the way it’s providing out services to the people, everything has completely changed.

Though it has changed out it has also brought out lots of competitions because lots of new banks have been like rising out every day and the kind of banking system all around the world is completely changing actually.

That’s the main reason why lots of problems have arisen in the field of Banking

Increasing competition

As like we have said before the competition has been increasing due to the large no of banks being available so that in order to everyone to survive they are actually doing out lots of things to stay in the top level.

But in this competitive race they actually forget one thing the quality of service they actually provide out to their customers and that is what their customers are expecting out from them and they fail to do it so.

And the only best solution for this is that every bank needs to understand that it’s not about being no of 1 its all about how we treat customers if we treat customers good then they are gonna keep us in the top position.

Check out Future of Banking

Regulatory compliance

In order to keep out all the banks follow the regulation a group called as SEBI has been established out and continuously monitor the banks and made out certain rules and regulations and everyone bank whether private or public bank every bank should follow it no matter what.

 

Changing business models

As the years pass and the technology improves the problems also arises, so every year the business models of banks keep on changing and its really a confusing thing to the customers so banks should keep and update things to their customers if they change out business models

Also read: Merchant Banks vs Commercial Banks

Rising expectations

Today people has become more educated and they know what is banking and everything regarding it so they except banks to give the best services they want because they know they are actually paying money for it and every bank should know it and provide the service they want

Issues and solutions

  • Person improvements
  • Going for the place.
  • Moving people from loyal to satisfied
  • Creating a cultured experienced customer.
  • Building trust to customers
  • Increasing per customer trust
  • Thinking new
  • Nurturing beginners to business.
  • Connecting with the ones who want
  • Creating a better future.

Most customer complaints risk

  • More amount deduction.
  • Bad service to customers
  • Checks/funds bouncing
  • Most debits are unnoticed.
  • No loyalty.
  • Big loan issues
  • Huge Margin errors
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Michael Clarke

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