Customer Loyalty and Satisfaction in Credit Cards: A Case Study of OCBC Bank

Integrated Case Study

Executive Summary
The present study is based on issue related to customer loyalty and satisfaction in terms
of credit cards in context of OCBC bank. The respective bank is a well-known financial
institution based on Singapore which offers ample of financial and baking related services such
as loan, investment, credit cards and more. In present study, there is special reference to the
credit cards. It is monitored that credit card industry of Singapore used to dominate by eight
players named as Citibank, American Express, Standard charted bank, HSBC, MayBank, DBS
back, UOB and OCBC bank. Here, the industry is really competitive due to presence of ample
number of players. In 2019, OCBC bank was considered as the third largest issuer of credit cards
in terms of transaction value. However, it is quite complex for the respective bank in surviving
within such a competitive environment. It is found that the respective bank faced complexity in
terms of maintaining loyalty and trust among customers regarding their cards. As a result, they
recorded decline in overall sales of credit cards and the respective bank got last rank amongst the
credit card issuers within the country. It is suggested that OCBC bank needs to adopt suitable
customer loyalty programs, communication tools in order to cover the service gap and attain
higher level of customer satisfaction.

Table of Contents
Introduction....................................................................................................................................................4
Statement of problem.................................................................................................................................4
Structure of the report................................................................................................................................4
Case brief: description of the situation:.........................................................................................................5
Problem statement, plan of analysis...............................................................................................................5
Analysis & Findings......................................................................................................................................9
Solution to the problem................................................................................................................................10
References....................................................................................................................................................12

Introduction
Statement of problem
Customers are considered as one of the most significant stakeholders of the company as
they purchase the products and drive revenue within the entity. In the present competitive era, it
is highly imperative to keep the customers satisfied to maintain long-term and effective relations
with them (Ming, Chen and Li, 2020). The present study is based on OCBC bank that is a well-
known bank based on Singapore. It is a multinational company that offers financial and banking
services in significant manner. In the current situation, the entity is facing issues related to
customer’s satisfaction regarding credit cards. Due to this, sell of credit cards is significantly
affecting that might create issues for the respective company in future period of time.
Research Aims and objectives
Research Aim: “To increase the customer’s loyalty for credit cards. A study on OCBC bank”.
Research Objectives:
 To analyze the credit card industry of Singapore.
 To assess challenges faced by OCBC bank in terms of customer loyalty regarding credit
cards.
 To identify the ways in order to improve customers loyalty towards credit cards being
offered by OCBC bank.
Structure of the report
The present study is about OCBC bank that is a renowned financial and banking
corportation based on Singapore. They offer different financial services such as credit cards, net
banking, investment, loans and other such services. In the present report, the situation of the
respective company will be analyzed along with the problem statement with the help of suitable
theories, models and more. Further, current situation being faced by the chosen company is also
going to discuss in the following report based on different concepts, theories and models. At end,
it will include suitable suggestions in order to deal with the issues in an efficient manner. Along
with this, limitation of the study will also include in the existing project.