Analysis of Total Quality Management in Bank Services

This report analyzes total quality management (TQM) within the banking sector, focusing on the quality of services provided to customers and businesses. It introduces the banking institution and its crucial role in offering services such as credit, savings, payment methods, insurance, and mortgages. The report identifies the need and specifications of each service, emphasizing the value of quality in each. Key characteristics defining quality services, such as reliability in transactions, secure savings, and accessibility of credit, are discussed. The report also benchmarks quality criteria and suggests methods for upgrading service quality, including leveraging modern technologies and improving financial regulations. The conclusion highlights the importance of TQM for ensuring customer satisfaction and outlines key quality criteria like credibility and responsiveness. References to relevant studies are also included to support the analysis.

Total Quality Management
Student’s Name
Institution
Topic: Bank

Introduction
 Bank is a financial institution that offers various financial
services to customers and business within the country.
 Banks offers services that include credit services, financial
transactions and payments, insurance and mortgage services
to clients.
 The product and service quality management is an important
aspect of bank business since it enables proper service
delivery to customers.
 Banking being a financial institution has various quality
management criteria that enable maintenance of quality
standards of products and service.

Need and specification of each
product / service
 Firstly, loan or credit services are important services that are offered
by bank.
 Secondly, customers on the other side need savings that is another
service offered by bank in order to have wealth and investment.
 Thirdly, business and customers need various financial and payment
methods that bank offers for ensuring safer transactions and payment
for goods and services.
 Fourthly, insurance is another service that banks offer to customers
and is highly needed for minimizing risk that come in case of losses.
 Lastly, mortgage is highly needed for ensuring continuous
infrastructure development wealth development by both customers
and businesses

Value of each product / service
quality
 Firstly, the quality of credit services that customers and
business need enable the bank to recover and maintain its
financial obligations.
 Secondly, the quality of the payment services is important for
ensuring safer transaction between customers, bank and other
institutions.
 Thirdly, the quality of savings services that bank offer to
customers enable the company safe keep funds and readily
avails funds to customers based on terms and conditions of
savings

Characterizes needed for each product /
service to define each as quality product /
service
 Firstly, reliability of transaction is quality characteristic of effective
payment or transaction system that is one of the most important
service or product.
 Secondly, secure savings is a quality characteristic that help
customers to realize a perfect funds deposits.
 Thirdly, accessibility of credit services is a quality aspect that enable
bank to provide quality credit and loan services to customers.
 Fourthly, understanding customer is a characteristic of a good
insurance system that makes insurance service quality.
 Lastly, responsiveness of a mortgage system enables customers to
realize the benefits of quality of banking service

Benchmark for each quality
criteria
 Firstly, credibility of service delivery is an important aspect of service
quality that play a critical role in ensuring success of bank.
 Secondly, the accessibility of services such as credit services and
various financial services play an important role provision of loans to
businesses.
 Thirdly, the responsiveness of banking services to changing economic
and financial situations within the country is one way that enables the
service to reach expected standards.
 Fourthly, understanding of customers sweeps across all banking areas
within the banking system.

Methods to upgrade the quality
of the product / service
 Firstly, banks can use modern technologies to increase both quality
and security of products and services offered to customers.
 Modern technologies enhance security and speed up the service
delivery process for customers.
 Secondly, improving financial regulations and laws ensure high
quality financial transactions and customer service delivery.
 Improved customer service through improving banking regulations,
policies and procedures is important for upgrading quality of banking
services

Conclusion
 In conclusion, the quality management for banking service is an
important aspect of product or service quality control.
 Bank is an important service provider that assists both customers and
businesses.
 Credibility, secure, accessible, responsiveness and understanding
customers are some key quality criteria or quality characteristics that
are important for service delivery.
 The two most important methods to upgrade quality of service and
products that are offered to customers involve using modern
technologies and improving banking regulations.

Summary of services
 Example of services
Bank Services
Credit
Transactio
ns and
payments
Insuranc
e
Mortga
ge Saving
s

Reference
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Finance Research.
 Jammal, M., Khoja S. & Abd, A. A. (2015). Total Quality Management Revival and Six Sigma,
International Journal of Computer Applications, 119(8):1-2.
 Jayakumar, A. & Kalaiselvi, K. (2012). Quality of work life- an overview, International Journal of
Marketing, Financial Services & Management Research, 1(10).
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behavior in district Ludhiana, Indian Journal of Commerce & Management Studies, 4(2).
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Satisfaction with Online Services of Nigerian Banks, Journal of Internet Banking and Commerce,
vol. 20.
 Talib, F. Rahman, Z. & Qureshi, M. (2012). Impact of Total Quality Management and Service
Quality in the Banking Sector, Journal of Telecommunication System Management, 1(2):1-2.

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