Improving Customer Satisfaction for OCBC Bank's Credit Cards

CASE STUDY

Table of Contents
Executive Summary........................................................................................................................3
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
Case Description..........................................................................................................................4
Problem statement........................................................................................................................5
Analysis & findings.....................................................................................................................9
Proposed solution to problem....................................................................................................10
REFERENCES................................................................................................................................1

Executive Summary
The present report has discussed about OCBC bank and the issues it has been facing in the
market area like poor customer satisfaction. The study has aimed in identifying the problems
and providing the organization right solution to deal with the challenges of business. Although
literature review has been done in which various viewpoints of author has been taken so that
appropriate problem statement can be made. Detail discussion regarding issues has been done
and it has been compared that with various models of business. Graphical presentation has also
been done in problem statement which shows what OCBC has been facing in the market area and
what its position compare to its competitors. So from the problem statement details and factors
contributing in challenges will be analysed.
In addition to this, present report discussed problem faced by company related to
customer satisfaction and loyalty as well as it also provide possible solutions for this that can be
followed by company. Also, due to this issue there are more than 30% of customer are not satisfy
with the policy of credit card that is whys it is suggested that company should focus mores on
different type of policy which will attract customer such as collaborations with celebrities on
Instagram etc.

INTRODUCTION
The present case study has been based on OCBC bank which works in making and
providing their customer with credit card services to their customer. Along with this, the rating
of company was 72.1 points on scale of 0-100 and it has trailed behind the Citibank. Although
the performance of the company is very poor and it can be improved through merchant tie up and
employing high skilled workers. Moreover, OBCB bank follow credit Card business model.
Credit card is defining as financial products which offer customer to purchase products and
services. The amount is basically borrowed from the bank and the accumulated bill is sent every
month to the customer. The present study will analyse about the marketing issues faced by
company in order to keep their customer satisfied.
Aim: To analyses ways related to customer satisfaction so that productivity of firm can be
improved.
Objective:
 To identify issues faced by OBCB bank in the competitive market.
 To evaluate ways through which company can keep their customer satisfy and improve
their credit card rating.
 To find out relation between customer satisfaction and performance of company.
 To recommend the best action plan so that bank can deal with challenges of market.
MAIN BODY
Case Description
In the year of 2019 credit card industry of Singapore was facing various changes as there was
rise and fall in used of credit card. There were three local banks such as UOB, DBS and OCBC
bank as well as at international level there was HSBC, American Express, Citibank and
Maybank. There was increase in use of credit card by 18.6% since 2015 however there was
decline in distribution of card in 2019 as there was fall in number of cards issued by UOB,
Citibank and HSBC (de Souza and et.al., 2020). The drop in the card suggested that customers
has cancelled those card which was no longer useful and relevant for them. The competition was
high and dynamic in nature as customer can review the benefits of other available options. So it
is necessary for OCBC bank to make use of merchant tie up over time as well as give their
customer limited promotions like free gifts in order to gain market share. In year 2019 OCBC