Customer Delight Statistics and Analysis in Banking

This project plan focuses on customer delight statistics and analysis within the banking system, specifically examining strategies to enhance customer satisfaction and loyalty. The plan begins with an executive summary, followed by an introduction outlining the project's aims and objectives, which include understanding customer delight, identifying strategies for analyzing satisfaction statistics, and ascertaining the relationship between customer delight and the banking system. The project investigates the problems related to customer service and loyalty in the banking sector, particularly with HSBC, and uses secondary data and literature reviews to support its findings. The analysis includes strategies like meeting customer expectations, personalizing experiences, and using new technologies. The project concludes with a discussion on the significance of customer delight statistics in the banking system. The project emphasizes the importance of customer experience and the need for banks to provide excellent services to attract and retain customers. This project is designed to help students understand customer delight and its impact on the banking system.

Project plan
(Customer Delight statistics
and analysis in the banking
system)

EXECUTIVE SUMMARY
Customer satisfaction is the main task for organization where business concerns identify
the needs and make efforts to fill them. It has study that customer delight is becoming more
important for companies as it is used to attain the competitive advantages. In the business
environment or market it becomes difficult for their customers to make delight the customers. In
the banking sector it has found that how account holder of banks could be delighted not to only
providing services but also reaching to beyond the customer expectations. Researcher has
conducted proper research that how to make happy their customers by providing banking
services and developing the performance. This report is based on delighting the people at
banking sector and increasing the productivity.

Table of Contents
Table of Contents.............................................................................................................................3
Introduction......................................................................................................................................1
An Overview of Project Idea.......................................................................................................1
Project aims and Objectives.........................................................................................................1
Problem Statement.......................................................................................................................1
Literature and Secondary Data....................................................................................................2
Analysis of data and information on the basis of secondary research.........................................5
Conclusion.......................................................................................................................................6
REFERENCE..................................................................................................................................8

Introduction
An Overview of Project Idea
Customers play a main role in Banking sector, now satisfying customers is not enough
for businesses they have to make their customers delighted. There is always a difference between
totally satisfied and simply satisfied customers. To overcome this differences the customers must
be treated well, the needs and demands of the customer not only get fulfil it should met their
expectations (Mishra, 2018). The aim of this project is to analyse whether in banking sector,
customers attain delightful experience. Customers Delight helps banking sector in retention of
customers and build a strong relationship with them, as they are the one who brings new
customers without any efforts because of the services provided by the banks. The Banks plays an
important role in country, the banking system should be healthy and sound for smooth
functioning. The customers should be highly satisfied with the services provided by Bank, they
becomes demanding for getting high quality services. Thus, the bank must provide an excellent
services so that they can attract more customers (Rafiq, 2019). The present report covers
background of delighted customers, aims and objectives, literature review, problems that
identified in selecting area, and recommendation. This can help to develop the understanding and
managing the higher performance.
Project aims and Objectives
Project aim
“To analysis the statistics of customer satisfaction within banking system. A study on HSBC
bank”.
Project Objectives
● To develop basic understanding regarding the customer delights.
● To identify strategies for analysing statistics of customer satisfaction in banking system.
● To ascertain the relationship between Customer Delight statistics and banking system.
Problem Statement
Banking is a complicated business as it needs a trust of the clients and it is very difficult
to have a faith on banks. There are several problems which is faced by the customers regarding
1

the services of HSBC. The services provided by the bank is one of the major issue generally they
provide bad service to their customers. Even the clients face the problem of loyalty towards the
bank they have lack of respect for loyalties (Akter et. al., 2020). The bank usually charges a
hidden fees from its customers it is a top issue which is faced by the people.
Literature and Secondary Data
Literature review refers to the process of collecting secondary information through books,
articles, journals and many other sources. These sources will helps in gathering of secondary
information regarding the topic. This is important part of the project plan because it support in
achieving all objectives in successful and systematic manner. This is important for business
concern to understand the needs and wants of their customers and provides the products and
services accordingly. The researcher is playing and important role as it conduct the environment
analysis and bring then new services for their potential customers that can help to make them
delighted (Mohanty, Patnaik, Satpathy and Patra, 2019).
To develop basic understanding regarding the customer delights.
According to the Petzer and Roberts-Lombard (2020), Customer delight means to
surprise customers by exceeding their expectations and hen creative a positive response. For each
organization it is important to understand what their customer wants and how they share their
feedback which can help to develop the business performance. The emotional reaction is leading
to word of mouth by bringing new products and services. The success of any business depends
on customer delighting and managing the all functions that is important for accomplishing the
organizational goals. The management is playing an important role who identify what their
customer have expectations and how it can be fulfilled. Different products and services are
provided accordingly which supports to develop the performance. The success of HSBC Bank
depends on the customer experiences and the services provided by them. It is important for the
bank to give excellent services so that they bring new customers and increase growth of the
bank. A banking sector is providing the services such as payment and remittance services,
receiving and giving loans, online banking, home banking, mobile banking, credit and debit
cards, currency exchange, and overdraft facility which fills the customer expectations and
attaining the higher performance. The banking officer is providing the various services and
making happy to people who are account holders. People are saving their investment and
2

deposits in the banks to keep it safe and getting the interest that can help to develop the business
performance.
To identify strategies for analysing statistics of customer satisfaction in banking system.
As per the view Uppal (2011), presented by Customers cannot be delighted if they are not
fully satisfied with the services. The dissatisfy people can switch the bank and also speaks
negative words for the bank. In the market, there are various banks and financial institution that
provide the financial services and managing all functions effectively. A customer is the main
aspects for business organization where variety of products and services are provides by
company that can help to develop the business performance. Great customer experience is not
built in a day as it crafted with effective planning and delivering the services properly. The
business enterprise is offering the unique products that develop the brand image, brand, and
knowledge of people in the changing environment. Customer delight is the continuous process of
meeting customer experience and getting the positive outcomes. In relation to HSBC Bank,
banking management is performing their all activities and functions by offering the different
types of banking and financial services. There should be effective plans and strategies which
uses by management to deliver the better quality of services in relation to banking and attaining
the competitive advantages.
Identifying the needs and responding properly – Customers and account holders having
account in different banks where financial services is provided to filling their needs and getting
the proper responds. In relation to HSBC bank, managers and other employees are responsible to
know why customers arrived and what service they wants so kind of services and proper details
should be provides accordingly (ITAI and ONAMUSI, 2020).
Increase the customer lifetime value – Clients can switch to rivals if quality of
services is below average, even if your product is over average. High-end customer support is an
asset in the company because it raises customer lifetime value. This is important for company to
provide the better quality of services and products which can help to attracts the customers and
retain them for long period of time. HSBC is the British multinational investment bank and
financial service holding company that is operating by HongKong and Shanghai banking
operation to provide the different services. This organization is focusing on customer’s demand
and providing the better quality of services that can help to develop performance.
3

Uses of new technology – As environment is changing where demand of customers also
changing. Now adays, customers does not have time to visit the banks and other financial
institution so that by adopting new technology and process organization can be develop
effectively. A big suggestion for banking improvement is to embrace new banking technology as
it is constantly struggling to meet customer demand and following the compliance with
regulation. This is tough competition for banking sector to recognise the market and introduce
new technology which can help to meet the customer demand and improve performance. new
technology is making easier for people to use mobile device to make payments, transferring
funds, providing loans, and receiving payments via a mobile application that can help to increase
the business performance and make the customer delight. New technology is highly important
for each organization as it influence the number of customers and supports to increase the
organizational productivity (Coetzee and Coetzee, 2019).
Personalize customer experience – Customer experience matters a lot for business
organization and management as it providing better quality of products and services in order to
achieve the business goals. Banking sectors a massive amount of data and information in relation
to their customers which is most useful and reliable to providing the services. In relation to
HSBC bank there are different ways or planning which can be used to deliver the great customer
experience such as prioritise high customers and members, individualise customer interaction
based on communication preference, deliver information to customers that is based on behaviour
and recent transaction, customer relationship management, lead scoring, robust e-mail marketing
and ROI in marketing automation efforts.
Boost Customer loyalty – This means if someone walking wearing the shoes of
customers and offer different services to them for impressing then it is consider as loyalty. The
aim of business concern is to make the customers loyal and build the confidence level which can
help to develop the business performance. The management is responsible for creating the
loyalty and accepting the changes in changing environment which improve the productivity. In
context to HSBC Bank, management and service provider gain the customer’s confidence and
maintaining higher brand by offering different services. This make easier way for customers to
receive money, payment, and fund transferring, and other legal services instantly that helps to
boost the customer loyalty (Mbama, Ezepue, Alboul and Beer, 2018).
4

Providing training and development programme – For running a business successfully it
is important that to provide training and development programme to their employees so that
services in relation to banking sector. This can help to develop the business performance by
managing all function and activities. The management of HSBC bank, training provided to
employees that can help to attain the business goals (Chatterjee and Kamesh, 2020) .
To ascertain the relationship between Customer Delight statistics and banking system.
As per view point of Mostafa (2020), Customer delight is the continuous process of
exceeding a customer’s expectations for the purpose of creating positive customer experience
with product to improve loyalty. The organization who get success having teams that collaborate
to delight both current as well as existing customers. The needs and desire of customers is
changing day by day where it is important to understand what people are facing and how it can
be solved. There is relationship between Customer Delight statistics and baking system as it
increase the business profitability and brand image in the banking sector. Various services are
provides by HSBC bank such as it provides the details of their fund balance, account holdings,
and other transaction which are useful. This keep records of all transaction and provide the
securities to their customers.
In other words, better banking services such as phone banking, digital banking, fund
transferring and other facilities are providing for the purpose of delivering better customer
services and attaining the higher performance and productivity effectively. The service which are
providing by banks is making the delighted their clients and developing higher performance and
attaining the goals effectively (RISHAV, 2020).
Analysis of data and information on the basis of secondary research
From the above data and literature review, it can be stated that customer delight is the
important task for business organization as it understand needs and provide the products and
services as well which can help to make happy the customers. Customer delight is the continuous
process which used by management to provide the details of products which are demanding by
customers and increase the satisfaction level. The researcher has conducted the secondary
research on the basis of already collected information, article, internet and others which helps to
develop skills and abilities in particular field and managing the higher performance. The current
project is related to customer delight statistics in banking sector where different types of
5

financial services are provided by banks by using different channel and sources which can help
to attain the competitive advantages effectively (Yuvaraj and Rajendiran, 2020).
The problems which is identified in area of interest
I was working a project on customer delight statistics and analysing in the banking sector
that provide the good knowledge and skills by managing all functions. I conduct the research
properly where I come to know that how to make happy the customers along with satisfaction.
While working on project I focused on my strength and weakness which I noticed such as my
team leading skills, ICT skills, statistics knowledge, and problem solving skills is good that
supported me to complete the project on time and managing the all activities. This provide me
understanding that how to manage a project and functions while working. I analysed that for any
business organization customer is important where better quality of products and services should
be provided to people which can help to develop the business performance and productivity (Rai
and Ozuem, 2018). Moreover, new technology in banking sector is used to provide the new and
technical financial services that can help to influence the number of customers and accomplish
the organizational goals. During the project I faced the problem of improper communication,
lack of decision making, and project handling issues that might be create the problem in running
task. All the problem I solved by working with my team member where I improved
communication and decision making skills by observing my senior. This area has developed my
skills and knowledge in particular area and supported me to attain the personal as well as
professional goals. Other than this, I also faced the problem of fund management which I solved
by following the accounting principles and preparing budget accordingly (Hossain, Xiaoyan and
Rahman, 2019).
Conclusion
From the above given information it is been concluded that the bank should maintain a
healthy relationship with their customers as they are the one who can increase growth and
development in banking system. If banks are able to develop and maintain the good relationship
with their customers then it will be opportunity to grow their business and increase the brand
image. The service provider in relation to banking sector is playing important role as it identify
problems of their regular customers and provide the optimum solution which can help to attain
the business goals. Customer delight is the activity which used by business concern to make
happy the people by offering kind of financial services. This increase the confidence level and
6

satisfaction level of people in relation to banking sector. The organisation is responsible to
provide the better quality of services and managing the higher performance.
Recommendation
HSBC Bank is large size bank that offers different banking services that influences number
of customers and increase the business performance. The management of such organization
understand the requirement of people related to banking and provide the services accordingly
which can help to increase productivity. The Bank should be adopt new technology and banking
services for the welfare of customers and solving problem that make the customers delight and
attaining competitive advantages. Moreover, different strategies should be adopted by baking
sector to reach their potential customers and increasing performance.
7

REFERENCE
Books and journal
Uppal, R. K., 2011. Customer Delight-A Milestone For The Banks. Researchers World. 2(4).
p.11.
Coetzee, A. and Coetzee, J., 2019. Service quality and attitudinal loyalty: the mediating effect of
delight on retail banking relationships. Global Business and Economics Review. 21(1).
pp.120-138.
Mostafa, R. B., 2020. Mobile banking service quality: a new avenue for customer value co-
creation. International Journal of Bank Marketing.
Yuvaraj, M. and Rajendiran, G., 2020. A Relationship Between Service Quality and Customer
Satisfaction in Life Insurance Sector (No. 2378). EasyChair.
Rai, D. and Ozuem, W., 2018. THE RELATIONSHIP BETWEEN ONLINE SERVICE
FAILURE, RECOVERY STRATEGIES AND CUSTOMER RETENTIONS.
Hossain, M. S., Xiaoyan, Z. H. O. U. and Rahman, M. F., 2019. Customer satisfaction under
heterogeneous services of different self-service technologies. Management &
Marketing. 14(1).
Mbama, C. I., Ezepue, P., Alboul, L. and Beer, M., 2018. Digital banking, customer experience
and financial performance: UK bank managers’ perceptions. Journal of Research in
interactive Marketing.
ITAI, M. M. P. and ONAMUSI, A. B. P., 2020. Customer Relationship Management and
Customer Loyalty: An Empirical Study of Selected Deposit Money Banks in Lagos State,
Nigeria. IAR Journal of Business Management. 1(4).
RISHAV, K., 2020. Project Report on (Doctoral dissertation, Kuvempu University).
Chatterjee, D. and Kamesh, A.V.S., 2020. Significance of Relationship marketing in banks in
terms of Customer Empowerment and satisfaction. European Journal of Molecular &
Clinical Medicine. 7(4). pp.999-1009.
Mohanty, A. K., Patnaik, D. B., Satpathy, D. and Patra, G., 2019. Impact of Information
Technology on Alternative Channel Services and Its Service Quality. International
Journal of Civil Engineering and Technology. 10(03).
8