Malaysian Banking Services Customer Experience Management

  • ID: 3339793
  • Report
  • Region: Malaysia
  • 93 Pages
  • Frost & Sullivan
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Benchmarking the Industry Excellence in Delivering Superior Customer Experience

FEATURED COMPANIES

  • CIMB Bank
  • Maybank
  • Public Bank
  • RHB
  • MORE
In this first Customer Experience Management report for Malaysia’s Retail Banking industry, this report explores the relationship of the experiences provided by banks for its customers. We look at the critical factors that influence customer behaviours throughout the three phases (pre-purchase, purchase and post-purchase) of their journey, through the companies' touch-points.

Methodology

1. Sample Design

The sample is designed to mirror the country’s demographics - interviews segmented by state, age, gender, race and urban density follow the Malaysian demographics as captured in the 2010 census.

2. Online Panels

The two-month online survey was conducted across more than respondents randomly selected from consumer online panels to answer questions on customer experience attributes for specific industries.

3. Random Sampling

Consumer panels were randomly approached with an online invitation for this survey. Consumers aged 18 and above who had interacted with their primary bank in the past 6 months were selected for the survey.

Each consumer was asked to identify their primary bank - the bank they interacted with the most in the past months and which they considered as “primary bank” for this period. Feedback was collated mostly on respondents’ perceptions of the primary bank’s performance, based on their most recent experience.

Primary banks with a lower base of consumers have not been included for extensive and detailed analysis in this research.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • CIMB Bank
  • Maybank
  • Public Bank
  • RHB
  • MORE
1. Malaysian Banking Services Customer Experience Management

2. Research Methodology
2.1 Research Step-by-Step Overview
2.2 Overview of the Research Process
2.3 Sample Methodology
2.4 Data Collection Quality Process
2.5 Sample Distribution by Service Provider - Banking Malaysia
2.6 Sample Demographics by Age and Gender - Banking Malaysia
2.7 Sample Demographics by Monthly Personal Income - Malaysian Banking
2.8 Customer Experience Index

3. Executive Summary
3.1 Customer Experience Management (CEM) Malaysian Banking Services 2014 - Introduction
3.2 Factors for Choosing Primary Bank
3.3 Factors for Discontinuation of Primary Bank
3.4 Preferred Channels for Banking
3.5 Preferred Channels across Stages
3.6 Mobile Banking versus Contact Centre
3.7 Customer Experience Index Score - Definition and Score
3.8 Customer Experience Index Score by Primary Bank
3.9 Net Promoter Score by Primary Bank
3.10 Channel Integration and Feedback by Primary Bank
3.11 Product Recommendation by Primary Bank
3.12 Customer Loyalty Rewards by Primary Bank

4. CEM Report - Malaysian Banking Services 2014
4.1 Reason for Banking Service Discontinuation
4.2 Preferred Channels for Banking
4.3 Branch versus Website Transactions
4.4 Frequency of Branch Visits
4.5 Customer Top Priority Experience Matrix
4.6 Degree of Channel Integration
4.7 Priority of Superior Customer Experience and Living up to Sales Promises
4.8 Customer Loyalty Reward
4.9 Customer Satisfaction
4.10 Degree of Satisfaction/Dissatisfaction - Internet versus Mobile Banking
4.11 Customer Experience with Contact Centre

5. Understanding Pre-Purchase Behaviour
5.1 Factors for Choosing Primary Bank
5.2 Product and Service Recommendation by Primary Bank
5.3 New Product Consideration by Primary Bank
5.4 Channel Used at Pre-Purchase Stage
5.5 Channels Used for Pre-Purchase Inquiry
5.6 Evaluation of Experience in the Pre-Purchase Stage by Customer Experience Indicators

6. Understanding Purchase Behaviour
6.1 Preferred Purchasing Channel

7. Understanding Post-Purchase Behaviour
7.1 Channels Revisited for Post-Purchase Enquiry
7.2 Customer Experience with Touch-points
7.3 Channel Used for Post-Purchase Enquiry
7.4 Customer Experience with Touch-points by Primary Bank

8. Analysis by Customer Experience Index (CEI)
8.1 Customer Loyalty, Recommendation and Additional Purchase
8.2 Overall CEI Score by Channels/Touch-points
8.3 Overall CEI Score by Primary Bank
8.4 CEI Score for Branch Banking
8.5 CEI Score for Online Banking
8.6 CEI Score for Contact Centres
8.7 CEI Score for Mobile Banking
8.8 CEI Score for Self-Service Facilities
8.9 Net Promoter Score (NPS)

9. Analysis by Company
9.1 Maybank - Customer Transactions’ Preference
9.2 Maybank - Customer Priority-Experience Profile
9.3 Maybank - Frequency of Interaction-customer Experience Profile
9.4 CIMB Bank - Customer Transactions’ Preference
9.5 CIMB Bank - Customer Priority-Experience Profile
9.6 CIMB Bank - Frequency of Interaction-customer Experience Profile
9.7 Public Bank - Customer Transactions’ Preference
9.8 Public Bank - Customer Priority-Experience Profile
9.9 Public Bank - Frequency of Interaction-customer Experience Profile
9.10 RHB - Customer Transactions’ Preference
9.11 RHB - Customer Priority-Experience Profile
9.12 RHB - Frequency of Interaction-customer Experience Profile

10. Final Words - What We are Excited About
10.1 Contact Centre - Where is it Headed with Regards to CEM?
10.2 Mobile Banking Application - Will it Take Off?
10.3 Frequently Recommending New Products to Customers and Not Violating Personal Data Protection Act 2010 (PDPA)
10.4 Would Banks Shift from a Hard-sell Approach to Needs-based Analysis to Engage Customers?
10.5 Would Improving Customer Rewards Programmes Positively Impact Both Customers and Banks?
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- CIMB Bank
- Maybank
- Public Bank
- RHB
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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