Banking Services and Customer Expectation in Borivali

Region

Submitted in partial fulfilment

Master of Management Studies (MMS)

(under University of Mumbai)

Submitted By
Names: Abi Augustine(Roll No: 03)
Amitbhai Hathiyani(Roll No: 13)
David Ferrao(Roll No: 30)

Under the guidance of

Prof. Sanchayita Banarjee

Batch: 2018-2020

St Francis Institute of Management & Research, Mt Poinsur,

S.V.P Road, Borivali (W) Mumbai.
 ACKNOLEDGEMENT

We take this opportunity to express our deep sense of gratitude to all those who
have contributed significantly by sharing the knowledge and experience in
completion of this project report.
We would like to express sincere gratitude to our project guide Prof. Sanchayita
Banerjee for guiding us all through the development of our report. without her
guidance and continuous support, the project could not have been completed
successfully.It was an enriching experience to work and learn under her. we
owe our indebtedness to the library of St. Francis Institute of Management and
Research.
We are thankful to almighty god for the blessings, my parents for their support
and care and also my friends for their valuable suggestions.
This project report is a collective effort of all of them and we sincerely
remember and acknowledge all of them for their continuous encouragement and
motivation throughout the project.

Thank you,

Abi Augustine
Amitbhai Hathiyani
David Ferrao
 TABLE OF CONTENT

Sr No TITLE PG NO.

1 INTRODUCTION

2 BACKGROUND

3 LITRATURE REVIEW

4 NEED FOR STUDY

5 RESEARCH METHODOLOGY

6 COLLECTION OF DATA

7 FINDINGS FROM DATA

8 CONCLUSION

9 RECOMMENDATION

10 REFERANCE

11 PLAGARISM REPORT
 Banking Services and Customer Expectation in Borivali Region

INTRODUCTION:
Modern banking covers all the aspects as like mobile banking, on-line banking,
ATMs. In all over the planet, banks area unit victimisation net technology in
banking sector to manage it with success. Modern banking is to use the web as
affiliation between client and banks for managing, preparing and controlling
financial transactions.In the era of globalisation and with the increasing
competition altogether the fields round the world several firms have changed their
ways in order that they will reach their customersaround the world easier and
cheaper.However, the rise of economy is predicated on fashionable banking that's
particularly supported net, computer systems and cell phones.Customer satisfaction
is that the necessary issue for the long run success of the organization.By keeping
the importance of client satisfaction in mind there's a desire of banks to keep up
shut and stable relationship with their customers by providing the prime quality of
product and services. So, there's a desire to gauge the extent of client satisfaction.
The satisfaction of client can't be measured unless the factors that have an effect on
the satisfaction level of consumers don't seem to be determined. As the banking
industry is the high involvement industry.Banks area unit being responsive to the
importance of this undeniable fact that the supply of prime quality service to
customers is critical for his or her survival and also the success in today’sglobal
and competitive surroundings.

Background
Client satisfaction is thus vital within the banking system, measuring the client
expertise and distinguishing ways in which to boost them during this space is
crucial. Rising the client expertise is your best way to differentiate yourself
from the competition and improve the money performance for your bank.
Within the current banking situation, it's obvious that banks gain competitive
advantage by rendering economical service and thereby enhancing client
relationship. Thus, analysis on service quality and satisfaction of consumers in
banking sector is to be considered. Banks strive to attain client satisfaction
through top quality client service, treating their customers fairly and dealing
fleetly and effectively with any complaints, through customer investigator if
necessary. In the creation of their product and services they tend to make what
their customers wish, so that if there's a market would like, we tend to develop
accountable products and services that represent superimposed value to
society.For people who want to save money banks offer savings accounts. Usually,
banks pay more interest for savings accounts than they do for checking accounts.
They hope that the customers will leave their money in the bank for a long time,
which is why the bank can work with this money and offer it as loans.
Banks, however, cannot give all of their money as loans. In most countries the
government limits the amount of money that banks can use as loans. They must
always keep back a certain percentage in the form of cash.
People who need money for certain things like buying a house or a car need a lot of
money quickly. The money they borrow from a bank is called a loan. In most cases
they do not pay back all of the money at once but a small part of it, with interest,
every month. If someone cannot pay back a loan the bank usually can take
away valuable objects like cars or houses.

Banks classify these services based on how information flows. A pull transaction is
one in which a mobile phone user actively requests a service or information from
the bank. For example, inquiring about an account balance is a pull transaction. So
is transferring funds, paying a bill or requesting a transaction history. Because
banks must respond or take some action based on the user request, pull transactions
are considered two-way exchanges.

A push transaction, on the other hand, is one in which the bank sends information
based on a set of rules. A minimum balance alert is a good example of a push
transaction. The customer defines the rule -- "Tell me when my balance gets below
$100" -- and the bank generates an automatic message any time that rule applies.
Similar alerts can be sent whenever there is a debit transaction or a bill payment.
As these examples illustrate, push transactions are generally one way, from the
bank to the customer.
Literature review:
Customer satisfaction can be defined as a feeling of customers by using a service or
product (Metawa and Almossawi, 1998).Customer satisfaction is key factor of
customer’s desires for future purchase (Mittal & Kamakura, 2001).Besides, the happy
customers can most likely to share their smart experiences with others (Jamal
&Naser, 2002).Customer satisfaction thought-about as an important issue of long-run
behaviour of consumers (Ndubisi,O, 2004).

Banks are providing new innovative techniques of satisfying customers, such as online
system and internet banking, telephone and call centre. The two vital parents of banks
that result the satisfaction of consumers are aggressiveness and ease. So,in order to
increase the efficiency of the organization it is necessary to measuring the customer
satisfaction (Pareasuraman, ZeithmaI& Berry, 1988). According to Khattak and
Rehman (2010), the one of essential factor of the strategy of any organization is the
customer’s satisfactions because customers are the ultimate source of company’s
revenue. So, customer satisfaction is important for attracting the new customers and
retaining the old ones. From the last one and decade, the banking industry is paying
the attention towards the satisfaction of customers.

It is attributable to the high competition among the banking sectors and largely the
selling ways of most of banks is that the providing the satisfaction to customers.So,
because of this competitive ways the last word customers obtaining edges (Khattak
and Rehman, 2010).The satisfaction of the client particularly within the service
business had an excellent importance as a result of the satisfaction of the client
directly connected with the client loyalty or the repetition of exploitation the services
the fashionable banking has provided (Ravichandran et al., 2010).Customer
satisfaction is fare important in web based mostly corporations.Good quality
merchandise and services are demanded by customers and if they don’t get the
required services they'll simply move away towards alternative choice. All the online
businesses are compelled to isolate and focus customer’s need for their satisfaction
(Kadir, Rahmani, &Masina, 2011).

All the shoppers World Health Organization are exploitation electronic and wireless
banking services for his or her routine dealings could realize fashionable banking in
keeping with their method of living and preferences.Subsequently if all fashionable
banking corporations need to catch the eye and retain customers, they must give
importance and attention to the individual customer’s way of living and his liking and
disliking (Lin, 2011).The banking industry has been taken the leading position in e-
business world for years. E-Banking Revolution has fundamentally changed the
business of banking by scaling borders and bringing new opportunities. In simple
words, E-Banking implies provision of banking products and services through
electronic distribution channels. Electronic banking has been considered sometimes in
the form of automatic teller machines (ATMs) and telephone transactions. Recently, it
has been transformed by internet. The new delivery channel via facilitates banking
transactions for both banks and customers. The internet offers faster access to the bank
services for customers that is more applicable and available around the clock
regardless of the customer’s location (Chavan, 2013).

Internet banking is currently used because the term for brand new age industry web
banking is outlined because the use of web to deliver banking activities like funds
transfer, viewing current account’s information, paying bills and savings account
balance, purchasing financial instruments and paying mortgages and certificates of
deposits (Singhal &Padhmanbhan, 2008; Oparea et al., 2016).E–payment is described
as that whereby banking businesses are transacted through automated processes and
electronic devices such as personal computers, telephones, and fax machines, Internet
cared payments and other electronic channels (Chaudhry et al., 2016; Oparea et al.,
2016).

Only few innovations have revolutionized the banking sector as fast as the E-banking
has done. Now, the banks are reorienting their business strategies towards new
opportunities offered by E-Banking. E-Banking enables banks to scale borders, thus
bring new possibilities and change strategic behaviour. E-Banking has affected real
banking behaviour nearer to neoclassic economic theories of market functioning.
View of the absolute transparency of the market, clients (both business as well as
retail) can compare the services of various banksmore easily. From point of view of
the banks, the web has considerably reduced the physical prices of banking operations
(Chavan, 2013)
.
Customer Satisfaction In the advent of 21st century, E-Banking revolution has an
impact nearly each facet of human life. The new data technologies have some alters
the whole image of service sector (Gautam, 2013). Despite banks attempt to ease
shopper problems through giving on-line accounts that generally attract reduced fees
and better interest, managing the continuing tension between potency and human
interaction represents a challenge to banking establishments (Herington &Weaven,
2009).

Banks on the world are effectively deploying information technology as associate

innovative resource to understand speed, efficiency, value reduction, client service
and competitive advantage. Technology enabled product and delivery channels give
banking activities to customers in anywhere and anytime (Joshua et al., 2011).
The research on Banking services indicates that the perceived quality of Banking
services has a strong influence on customer satisfaction.
 NEED FOR STUDY

GAP
The study pertaining to the literature covered various geographical
area but did not consider study regarding a specific area i.e. Borivali
region. So this research is carried on to find out Customer satisfaction
from the various banking services.

PROBLEM STATEMENT
 To collect more information regarding the banking service
through in dept study.
 OBJECTIVE:

1. To study the Indian banking sector and performance of Indian

banks
2. To Analyse the service provided by the bank
3. To determine level of customer satisfaction andexpectation
RESEARCH METHODOLGY

The study is descriptive research customer’s responses with the services

and facilities provided by the bank
The study is the combination of both qualitative and quantitative
research which is descriptive in nature.
Sources of the Data:
 Primary data- Mumbai metropolitan city
 Secondary data-Websites, research reports from journals, articles
and reviews
Research tools- Survey questionnaire
Sample population- Borivali Region
Sampling technique- Non probability(convenience sampling)
Sample size -100
Statistical technique- **
Hypothesis of the Study
1. There is a significant positive relationship between the internet websites
services and customer satisfaction about services offered by the banks.
2. There is a significant positive relationship between the Automatic Teller
Machine services and customer satisfaction about services offered by the banks.
3. There is a significant positive relationship between the phone banking
services and customer satisfaction about services offered by the banks.

LIMITATIONS OF THE STUDY

1. Unwillingness of the bank officials in sharing the information due to

confidential reasons.
2. Unavailability of exact information as we have conducted the research
only in Borivali region.
3. To select a better area and customer in order to get an accurate
information.
Data analysis:

Analysis: here in this above pie diagram we can see the respondent of having
one and two accounts are almost equal.

Analysis: Most of the respondent are having their accounts opened in a private
bank i.e 85% and rest are having their bank account in public sector banks.
Analysis: Here we can see in this graph majority of the respondent agreed on
easy access , location & Customer services as main area in selecting of their
banks.

Analysis: Most of respondent over here are satisfied with quality service
provided by the bank .
Analysis: Private sector bank are better then the Public sector banks.

Analysis: Here the respondent have said 47% of them use banking services
very often and 21% uses on extremely daily basis to do their work.
Analysis: majority of the respondent have selected east of access i.e banks
closer or near to their house .

Analysis: Major respondent have agreed on they are satisfied with service
provided by the banks.
Analysis: Here is the recommendation chart as we can see majority of the
respondent would suggest their friend or colleague to open a bank account
because of the service they have to offer.

Analysis: Here majority of the respondent would open their next bank
account in a private banking service just because they have lot many options to
offer to the customer.
BANKS IN BORIVALI REGION (TOP 5 BANKS)/Private Sector banks

 HDFC Bank 1
 Axis bank 2
 South Indian Bank 3
 Karnataka bank 4
 Catholic Syrian Bank 5

Chart Title
6

0
HDFC Bank Axis bank South Indian Karnataka bank Catholic Syrian
Bank Bank
HYPOTHESIS TESTING:
APPENDIX:

SurveyQuestionaire

Demographic factors Classification

Age o Below 25
o 25-40
o 41-55
o Above 55
Monthly Income o Rs.5000-20000
o Rs.20001-35000
o Rs.35001-50000
o Above 50001

1. How many bank accounts do you have?

 One
 Two
 More than two (specify)_____________

2. Do you have account Public sector Banks?

 Yes
 No

3. What made you to select private sector Bank? (Likert for all options)***
 Customers service
 location
 Easy access
 All of the above

4. How would you rate the quality of banking services in Private Bank?
 Very high quality
 High quality
 Neither high nor low quality
  Low quality
 Very low quality
 I don't use banking services

5. How do you feel Private sector Bank give innovative service?

 Good
 Fair
 Poor
 Very poor

6. How often, if ever, do you currently use banking services?

 Extremely often
 Very often
 Somewhat often
 Not so often
 Never

7. When considering a new bank, what would be the top two things you would generally
consider? [Check list question]
o Price
o Brand
o Ease of access
o Staff cooperation
o Innovation
o Quality
o Value
o Other(specify)_____________________

8.Are you satisfied with Service provided by the banks? *

 Strongly agree
 Agree
 Neither agree nor disagree
 Disagree
 Strongly disagree

9. How likely is it that you would recommend banking services to a friend or colleague?

0 1 2 3 4 5 6 7

10.Will you open your next account in a private sector bank? *

 Yes
  No
 Maybe

11. In your own words, what are the things you like most about your current bank?

12. In your own words, what are the things you like least about your current bank?

Submit
Conclusion:
 From the above study we found out that there is no relationship
between the gender, age and the number of visits in future.

 Also, various buying reasons like hygiene is found to be the

most important reason while making a purchase decision
whereas the other factors like taste, variety, convenience, price,
variety, location, time constraint etc is found to be relatively less
important but could not be ignored.

 Also, consumer expectation from this fast food brands were

Good quality, affordability, portion size, hygiene and variety out
of which good quality was given highest weight and the other
factors were relatively found to have a little less weightage but
couldn’t be ignored.

Future Scope of study:

 A future study regarding branded fast food could take into
consideration larger sample population.

 Also, the area of the research could be extended to other

geographical regions.

 Future study can include a larger group of branded fast food

chains.

 The same study can be conducted for different age groups.

References:
https://www.emeraldinsight.com/doi/abs/10.1108/02652329810246028

https://www.emeraldinsight.com/doi/abs/10.1108/00251741211266660?fullSc=1&journalCode=md

https://www.researchgate.net/publication/235287443_Customer_satisfaction_and_retail_banking_
An_assessment_of_some_of_the_key_antecedents_of_customer_satisfaction_in_retail_banking

file:///G:/BRM/modern-banking-and-customer-satisfaction%202.pdf

This study is done to identify key qualities of services offered by bank by analysing
customers banking experience and their expectations. The findings of this study shows that
despite of many advantages of banking. People still consider it as an al ternative for
analysing their ban records. Although every bank today provides the facility of online
banking, credit card, net banking but most of the people uses it once in month or twice. In
some area people are not able to get this facilities or are not aware of it. They find that in this
facilities there is no interpersonal communication. The main factor which persuade people to
use new banking facilities are comfort and convenience and the facility which attract the most
is quality of the banking services and information. Therefore the implications of quality
initiatives should begin with customers need and preferences. There are many more reforms
bank has to do and train their customers to use the facilities. While going through the study
we came through a problem that people are very much afraid their account to be hacked
while using this facilities. Even though banks are trying their maximum to solve this problem
also they should ensure the customers that they are secure.