The Superintendency of Banks and Insurance of Ecuador defines a financial system as “the set of institutions that aims to channel people's savings. (SIB, 2015)
This analysis of financial resources allows the development of economic activity (produce and consume) by making funds come from people with surplus cash flows to people who need these resources. This paper aims to analyze "customer satisfaction in the financial company Banco Pichincha ."
The information obtained through field and bibliographic sources allowed a descriptive analysis that in turn agreed to define the scales for the development of the measurement instrument. Breaking down several factors that are embedded in the financial banking system, in this research, the references that customers have regarding the services offered by the entity to its users are synthetically detailed. As a tool, the SERVQUAL model was applied based on the evaluation of its dimensions through a survey whose satisfaction yielded a result of 76%, this being not evaluated as good .Finally, the respective conclusions will be made regarding the results of the research work and as a proposal to Banco Pichincha the applicability of the SERVQUAL Model of Service Quality that can be taken by the bank.
Key Words: satisfaction, economic activity, clients, services dimensions
- Employee of the Banco Pichincha. Commercial Engineer. Associate Professor of Tourism. Eloy Alfaro Lay University of Manabí. Master in Marketing. Associate Professor of Marketing. Eloy Alfaro Lay University of Manabí. Master MBA.
Researcher. AUXILIARY INVESTIGATOR REG-INV-16-01382
The market and the demands of today's world have made banking services companies look for improvements in their service balconies to capture the largest number of savings accounts, and with this work to improve the quality of service, taking into account the continuous technological development that is lived in these times, where new services arise, new companies, new banks with better services for the competition.
Over the years, mechanisms have been developed to achieve customer satisfaction assurance, expanding the quality of companies and establishing the credibility of the supplier in the market, offering adequate trust to users, improving productivity and efficiency. in the market, being more competitive, reducing costs and obtaining benefits that will ensure the stability of the company, as well as improve the quality of life of entrepreneurs, workers and clients.
The financial company Banco Pichincha maintains for years one of the most solvent structures in Ecuador, this in part is due to constant innovation and improvements in the services and products they provide, managing to remain the leading Ecuadorian bank by capitalization and number of depositors, with around one and a half million clients, more than 150 million dollars in its loan portfolio, and more than 200 agencies nationwide. (BancoPichincha, 2016)
In this context, it is worth highlighting the importance and the place that clients deserve within Banco Pichincha, therefore analyzing their satisfaction through the quality of the service provided to them, it is essential at present times, to constantly monitor the opinion and criteria that the users of your bank have where they have deposited not only their trust but their money, since they are the raison d'être of their financial structure, but from the relationship of the users with the company who tend to be loyal.
In this sense, the most interested in being able to count on these benefits granted by the bank are the clients and the way to reach them is through the banking executives, who must capture the attention of the consumer through multiple operations.
For this analysis of the services offered by Banco del Pichincha, the following scientific problem arises: Are there adequate tools used by Banco Pichincha to measure customer satisfaction?
This question gives the guideline to propose the following objectives to be developed within the work: analyze the mechanisms that the bank has been using in recent times, determine the methods to validate the information provided by each banking agency, investigate internal and external clients about the quality of the environment that the agency has for its banking operations, with these three objectives a pertinent analysis on customer satisfaction can be included, and services Banco Pichincha offers at the present time, the mechanisms that the bank proposes for its quality measurement according to international standards, and other relative aspects.
History of the Pichincha bank
On April 11, 1906, the Banco Pichincha anonymous company was born in Ecuador. Established then as a bank of issue, circulation and discount, the entity established from the beginning its priority: to work in the foreign exchange market. Thanks to the efforts of the then vice president, the institution managed to place funds abroad for an initial capital of 600 thousand sucres, which marked the beginning of Banco Pichincha's legal life and the beginning of the world presence that characterizes it. (BancoPichincha, 2016).
Since its founding Banco Pichincha has been committed to goals that have made it a leader in the market. In recent years, various international media have selected Banco Pichincha as the best Ecuadorian bank. In 2010, the Bank Watch Ratings firm
(Ratings, 1993) granted Banco Pichincha the category of “AAA-”, this is the highest rating that this International Risk Rating entity has awarded to an Ecuadorian Financial Institution. (Álvarez, 2015).
Existing services at Banco Pichincha
The financial company Banco Pichincha provides various services, such as the collection of payments from other public and private companies, registrations, telephone plans, etc.; Banco Pichincha's greatest service is the issuance of credits, which generates interest, converting this into the company's profit.
This company has had great prestige, which characterizes it as one of the main banks in Ecuador, for this reason clients maintain an important place as the raison d'être of the financial institution. It is necessary to highlight the concept of customer satisfaction from the authors' point of view.
According to the theory of (Gronroos, 2002), today service is a very significant aspect which should be taken as one of the most important issues for a company, since this manages its success. In addition, clients in relation to the long term increasingly seek solutions as a complement to the good they have acquired.
The participation of the client as a mechanism for improving companies, to make a small relationship, between client and company (Gummesson, 1998), mention that the client is seen as a resource with which the company can create a solution, mutual dependence, that is, it is created as a strategy in order to obtain a good result for both parties, generating a win-win, the customer wins and the company wins.
It is important to highlight that for continuous improvement in customer service and attention, it is important to bear in mind that the expectations of both internal and external clients must be exceeded, offering excellent service through continuous improvement, good management of the information, coordination, verification of internal processes and how service management indicators and good customer relations are being used, knowing with certainty what is the existing definition of customer satisfaction.
Given this, a definition of the concept of "Customer satisfaction" can be found in ISO 9000: 2005 "Quality management systems - Foundations and vocabulary", which defines it as "customer perception of the degree to which their requirements have been met, ”also clarifying a very important aspect about customer complaints: their existence is a clear indicator of low satisfaction, but their absence does not necessarily imply high customer satisfaction, as it could also be indicating that The communication methods between the client and the company are inadequate, or that complaints are made but not properly registered, or that simply the dissatisfied client, in silence, changes providers. (ISO9000:, 2016)
Regarding the perceived quality, the customer's perception is how they perceive the service, how they value it if they have experienced a quality service or if they have been satisfied with it, to meet these goals, companies must subject their efforts to meet the expectations of customers and not simply perform a service as by default fulfilling only the objectives.
In fact, companies can compete with each other more efficiently when they understand customer expectations, distinguishing themselves in quality in the service they provide and in managing customer satisfaction.
Sometimes the concept of service quality tends to be confused with satisfaction, but these are totally different, although they have aspects in common; Satisfaction is generally seen as a broader concept, where perceptions of service quality, product quality, and price influence it, while service quality evaluation focuses specifically on the dimensions of service, such as, reliability, responsiveness, security, empathy and tangibles. From this point of view, the perception of quality in service is a component of customer satisfaction. Being clear about the perception of quality, it is time to analyze customer satisfaction, which is made up of three elements:
Perceived performance
It refers to the performance (in terms of delivery of value) that the customer considers to have obtained after purchasing a product or service. In other words, it is the "result" that the customer "perceives" that they obtained in the product or service they purchased.
The perceived performance has the following characteristics:
- It is determined from the point of view of the client, not the company. It is based on the results that the client obtains with the product or service. It is based on the client's perceptions; not necessarily in reality. It suffers the impact of the opinions of other people that influence the client. It depends on the state of mind of the client and his reasoning. Given its complexity, "perceived performance" can be determined after extensive research that begins and ends with the "customer."
Mechanism to know customer satisfaction
For this, the financial company Banco Pichincha, maintains within the management policy, taking care of the attention provided to customers in detail, by generating or creating mechanisms such as:
Creation of a phantom client: This is done periodically on a random basis, employees of the financial company Banco Pichincha, visit branches in order to measure the attention received, without the transactional business executives being aware of this evaluation, in which it is prioritized to verify that the care protocol is complied with perfectly. (Brown, 1989).
Telephone calls to clients; The financial company Banco Pichincha, aware that clients are the main part, maintains a satisfaction program that consists of telephone calls, with surveys whose questions are directed at measuring the attention received, solving problems and meeting their requirements, requested products and services.
Expectations: These are the "hopes" that customers have for achieving something. Customer expectations are produced by the effect of one or more of these four situations:
- Explicit service promises: these are statements about the service an organization provides its customers. Implicit service promises: these are ideas that relate to service without being explicit. Mouth-to-ear communication: it is conceived as a source of Impartial information for which it is highly credible. Past experience: assumes that you already have previous exposure. Expectations are often more realistic due to the knowledge gained.
At this point, the financial company Banco Pichincha tries to ensure that the service offered meets customer expectations, whether this is in any of the existing channels.
Satisfaction levels
After purchasing or acquiring a product or service, customers experience one of these three levels of satisfaction:
- Dissatisfaction: occurs when the perceived performance of the product does not meet customer expectations. Satisfaction: occurs when the perceived performance of the product coincides with customer expectations. Complacency: occurs when the perceived performance exceeds customer expectations. (Cantu, 2001)
Depending on the level of customer satisfaction, the degree of loyalty to a brand or company can be known, for example: an unsatisfied customer will change brand or supplier immediately (disloyalty conditioned by the same company).
For its part, the satisfied customer will remain loyal; but, only until you find another bank that has a better offer (conditional loyalty). Instead, the pleased customer will be loyal to Banco Pichincha because he feels an emotional affinity that far exceeds a simple rational preference (unconditional loyalty).
At this point it is important to highlight that the Banco Pichincha company presents the least number of complaints and the highest number of problem solving, generally determining that customers have a level of complacency.
On the other hand, based on the concepts presented and compared with that carried out by Banco Pichincha, it is acceptable to define customer satisfaction as the result of the comparison that inevitably is made between the customer's previous expectations placed on the products and / or services and in the processes and image of the company, with respect to the value received at the end of the business relationship.
According to an investigation carried out on the "Quality of service perceived by customers of banking entities in Castilla y León and its repercussion on satisfaction and loyalty to it". They concluded from the existing scales, creating dimensions that are more precisely adapted to the banking environment, where the service provision aspect is related to the performance of the service provision, the physical aspect has to do with the appearance of facilities and new technologies include ATMs, as well as virtual media such as the Internet and telephone banking. (González, 2015)
Measuring customer satisfaction is one of the most important issues today regarding administrative science. And its measurement with respect to the banking entities take force given the high index of competition within these entities. For this purpose, a decalogue of ideas is presented that, in the later years, will allow, through factors or dimensions, to measure customer satisfaction in the financial company Banco Pichincha.
- Commitment to quality service: everyone in the organization has almost the obligation to create a positive experience for customers.Knowledge of the product or service itself: clearly transmit knowledge of interest to the customer about the characteristics of the product or service itself helps to gain their trust.Knowledge of own customers: learn everything possible about customers so that the product or service can be focused on their needs and requirements.Treat people with respect and courtesy: every contact with the client leaves an impression, regardless of the medium used (e-mail, telephone, personally, etc.). This impression must always denote correctness in the treatment. You should never argue with a client: of course you are not always right,but the effort must be oriented to recompose the situation. Many studies show that 7 out of 10 clients would do business again with companies that solve a problem in their favor. Do not keep a client waiting: clients seek a quick response, so it is essential to deal with communications and taking decisions. Always give what is promised: a failure in this aspect generates loss of credibility and customers. If a default is unavoidable, you should apologize and offer some compensation.Assume that clients tell the truth: even though it sometimes seems that clients are lying, they should always be given the benefit of the doubt. than sales: maintaining a customer is more important than closing a sale.It is proven that it costs six times more to generate a new customer than to maintain existing ones. Buying should be easy: the shopping experience at the point of sale, website, catalog, etc., should be as easy as possible, and should help customers find what you are looking for.
Analysis through the SERVQUAL Model.
Analysis through the SERVQUAL Model
In order to know the satisfaction of the clients in the financial company Banco Pichincha and according to the decalogue presented in the previous paragraphs, it is necessary to detail in the following points, the factors or dimensions that affect the perception of the client, that is, describe the most relevant aspects that define the quality of the service provided and that allow us to conclude that Banco Pichincha presents customer satisfaction.
Each of the dimensions and the associated questions are aimed at:
Tangible elements:
- At this point Banco Pichincha has modern equipment in each of its offices. Banco Pichincha's physical facilities are visually attractive. Transactional business executives and other talent related to customer service, presents a neat and reliable appearance. materials (brochures, account statements and the like) are visually appealing
Reliability.
- Banco Pichincha, fulfills the promises of services, that is, when it promises to do something in a certain time, it does it. When a client presents a problem, Banco Pichincha shows a sincere interest in solving it. Banco Pichincha provides a pleasant experience to clients who visit or require a service for the first time. Banco Pichincha, tries to serve customers in the shortest possible time. Banco Pichincha keeps records free of errors.
Answer's capacity.
- Transactional business executives and other personnel involved in customer service, communicate to them when the service will be completed. (Denton., 1999) Banco Pichincha employees provide prompt service to their clients. Transactional business executives and other involved personnel are always willing to help their clients. Banco Pichincha employees are never too busy to respond to your customers' questions.
Security.
- The behavior of Banco Pichincha employees transmits confidence to clients. Clients show security and confidence when carrying out their transactions at the offices of the financial company Banco Pichincha. Employees of Banco Pichincha are kind to serve clients. Transactional business executives and other personnel involved in customer service, have sufficient knowledge to answer the questions that arise when requesting a service.
Empathy.
- Banco Pichincha provides its clients with individualized attention. Banco Pichincha presents hours and other service channels during working hours that are convenient for all its clients. Banco Pichincha is concerned with the best interests of its clients. The Banco Pichincha company understands the specific needs of Your clients.
The significant values of the intercorrelations of the aspects that influence the quality of the service suggest that these indicators are correct, with the physical and service delivery aspects having the highest correlation.
Regarding quality and satisfaction, the high value achieved indicates that, to a large extent, clients who perceive quality of service will be satisfied with the entity, therefore, the quality of service is an antecedent of customer satisfaction.
Although the empirical evidence does not fully support it, they were able to conclude that customers who are satisfied with the entity are very likely to be loyal to it, continuing their relationship with it.
Therefore, the financial company Banco Pichincha presents great progress in customer satisfaction, in such a way that it serves as a guide for other banking entities to copy or simulate some strategies implemented in the first instance by Banco Pichincha.
METHODOLOGY
The methodology used for the preparation of this academic essay consisted in the design of a survey with the objective of analyzing the perception that users have of the Banco del Pichincha services, since for this the investigative technique of the inductive method was inserted (Rodriguez, 2005) defines it as a process in which, from the study of particular cases, universal conclusions or laws are obtained that explain or relate the phenomena studied. Therefore, this document has been based on theories and statistical studies such as Likert and SERVQUAL to evaluate the quality of the services provided by the Banco del Pichincha.
RESULTS
A bar graph was made for the five dimensions which helped to determine in which of these there is an area of opportunity, in addition a table was made showing the averages of the five dimensions and the general average of the evaluated area, then a graph was made of gaps (Perceptions-Expectations) (Evans., 1999) to observe the difference that exists between them within each dimension, and finally a list was made from the comments section which helped to identify what the client did not you are satisfied with the service.The interpretation of each of the questions was made using the graphs and the Likert scale used to obtain the Service Quality Index (ICS). Once the results of the survey scores were obtained, a quantitative analysis was performed where they were added the scores of each questionnaire for each item and this number was divided by the total of the respondents to obtain the average of each one of them. In addition, the average of the quality dimensions and a general average of the dimensions were obtained.
Meaning of the Likert scale to interpret customer satisfaction
| Likert level | Meaning | Range or percentage of
customer satisfaction |
|
| one | Extremely unsatisfied | 0 - 20 | |
| two | Dissatisfied | 20 - 40 | |
| 3 | Neutral | 40 - 60 | |
| 4 | Satisfied | 60 - 80 | |
| 5 | Extremely satisfied | 80 - 100 |
Table 2 shows the Likert level and its meaning, each level has a percentage that consists of 20 percent each, this was agreed with the decision maker of the two areas analyzed. The scale allows you to see what level of satisfaction each area is in, allowing you to establish the percentage of satisfaction in each one.
SERVQUAL average score
The average results as evaluated by the dimensions evaluated by Banco Pichincha were as follows:
Graph: Average of the dimensions.
SERVQUAL average score. Own elaboration
The average of the dimensions evaluated for the Pichincha bench was obtained. Where the behavior of each dimension is shown by means of a bar graph as observed, items were taken as tangible elements, reliability, responsiveness, security and empathy, denoting that the difference between dimensions is not very representative, denoting that you have to work more on customer satisfaction. Below is an analysis to define the overall average of the dimensions such as:
Table: Representation of the results of the dimensions.
Representation of the results of the dimensions. SERVQUAL model. Source: self made.
In Table 3, the overall average satisfaction for the Pichincha bank was 3.81, which is equivalent to 76.2% of the range of satisfaction percentage from 0-100 on the Likert scale, which indicates that it is established that it has a satisfactory range. according to customer perception.
CONCLUSIONS
- In conclusion, the research presented has been the result of a review of banking services and the history that Banco del Pichincha in Ecuador has had with great relevance. A SERVQUAL analysis of the quality of service and customer satisfaction applied to the banking sector, with this the perception that users have regarding the service provided.The gap that exists between the expectations and the perceptions of the clients are not so abysmal, with this the difference that exists between what the client expects to obtain is established of the service and what it has received.The results show that customer satisfaction allowed us to know that the factors or dimensions detailed in the preceding paragraphs are decisive in the quality of the service,mainly because it involves communication and control processes that Banco Pichincha complies with international standards.Finally, it is concluded that the Banco del Pichincha currently maintains adequate tools to measure customer satisfaction, and thereby position itself as an effective and efficient bank to Nacional level.
BIBLIOGRAPHY
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