Commonwealth Bank Privacy Policy 2021

Assessment
project

Dear Madam
It is my pleasure that you wrote to our Bank for your concerns. This is our duty to help the
customers in every possible manner. There is need for us to develop good relations with the
customers. They are the most important asset for company. It has come to our concern that we
have to enhance customer relation management and thus, we are ready to solve each and every
problem of yours. The relationship among banks and its customers has wide influence on
customer satisfaction. In the present time period, most of the industries and organisations focuses
on maximizing the value of customers which is important in order to sustain at marketplace and
attain growth as well. In context to banks, consumers are advantageous from having wide
amount of information at a single click. In addition to this, online services of bank allowed them
to do transactions and other activities at the place they want. Service quality is undertaken as
one of the important issue within the banking sector. It is stated that banking services are mainly
associated with the undifferentiated product and it is becoming imperative for the banks to focus
for improved service quality. Commonwealth Bank is an Australian multinational bank with
businesses across Asia, US and UK. The bank provides financial services involving funds
management, insurance, superannuation, broking services and many more. The company is
facing issues as it customer perceive that the bank did not respond to the customer complaints.
We are writing this mail to you in response of your feedback provided about the customer
service. We feel glad to share you about our privacy policies and to respond your complaints in
this mail. This is going to be a gap filling procedure between us and the customer. The concern
related to insurance service taken from non bank facility will provide no benefit to you. This
letter has all detailed information regarding the factor that will help to manage the customer
service and planning. This is my pleasure to manage all factors and elements associated with the
customer satisfaction and happiness effectively. It is our responsibility to take efficient care of
our customers and feed them with the best results. As per our company’s policy, we do not
provide any of our customer’s details and information to any third party or person. If you want,
you can always ask us for providing transaction history. We always work upon providing our
customers the best support and help.
If you are not satisfied with the way we are providing you support, there is another option of
Australian Financial Complaints Authority which offers free and independent dispute resolution.

For your issue which stated that your husband will retire in few years, so you were worried about
the superannuation programs. The report was provided to you for $660 as the superannuation
program. We are very sorry that our brand members were not able to provide you information
about other superannuation plans our bank provides. There are other facilities too which cost you
less. There are different plans for the people with less income. We are having the best possible
way to manage the work and meet your expectations. Every customer is informed about consent
policy before investing in our bank. There is a privacy policy prepared for managing issues of
customers and service users. An individual provides information as per concise, transparent and
intelligence basis to note the applicability of information that is necessary and proportionate. As
also, individuals have the right to approach and acquired a copy of their personalized information
as per adequate plan of actions. A third party may also charge fees to deal it without delay and
ensures it to for particular interval of time with a legal pace of notice. As per the right to
rectification, the dealing of personal source of data can be in liable and legal form. Individuals
also ensures to delete their personal set of data by issuing a legal notice, it can be in a verbal
form or written form. The right to restrict the processing assures the form of request that varies
their request and ensures the personal source of data as per their managerial term. Another area
of field simplifies that the right to object ensures the manner of processing the personal source or
personal policy that enquired it in a sectional term.
Issues
The first complaint is about no consent from bank about the personal and banking details
being sent to other company. The customers have issue is about the main page of bank website
that consist of photo of a baby and two women which might effect on the traditional values. The
customer perceives that the such photo on the website impact negatively on the mind set of
consumer as there is vast majority of families have a woman and man or are single parent.
There are many reasons about the occurrence of issues that is different perception of
people on one particular aspect. In addition to this, sometimes the ability to understand things by
company is not appropriate and impact directly on the emotion and sentiments of customer as
well. It is important for company to consider such points before appealing anything on the
website.
Solution: