- Consumer lending contributes to improving people's lives, consumers are better satisfied with their material and spiritual needs, thereby contributing to a healthier development of society. A society where people have a full and comfortable life will partly limit negative phenomena such as protests, reactionaries, and disorder, phenomena that are considered to be characteristic of an unstable and backward society.
- The development of consumer loans increases business opportunities for businesses. Due to support and encouragement, customer needs will become more and more diverse, so manufacturers have the basis to make the right production and business decisions, suitable to customer needs, helping production and business activities to develop more and more sustainably.
1.1.3. Some models of customer satisfaction research and quality measurement
Service volume:
1.1.3.1. American Customer Satisfaction Index (ACSI):
In the American satisfaction index (ACSI) model, perceived value is influenced by perceived quality and customer expectations. Then, customer expectations have a direct impact on perceived quality.
Customer satisfaction index consists of factors (variables), each factor is made up of many specific elements characteristic of the product or service.
Customer satisfaction is defined as a comprehensive assessment of the use of a service or after-sales activity of a business and this is the core point of the CSI model (customer satisfaction index model).
Surrounding this variable is a system of causal relationships originating from initial variables such as:
Customer expectations, corporate and product image, perceived quality and perceived value of the product or service are related to outcome variables of satisfaction such as customer loyalty or customer complaints.
Figure 4: US customer satisfaction index model
(American Customer Satisfaction Index – ACSI)
1.1.3.2. European Customer Satisfaction Index (ECSI) model:
The EU Country Satisfaction Index (ECSI) model has certain differences. Compared to ACSI, product and brand image has a direct impact on customer expectations. In this case, customer satisfaction is the combined impact of four factors: image, perceived value, and perceived quality of both tangible and intangible products. Normally, the ACSI index is often applied to the public sector, while the ECSI index is often applied to measure products and industries.
Figure 5: Customer satisfaction index model of EU countries
(European Customer Satisfaction Index – ECSI)
The strength of this approach is that it immediately shifts the consumer experience, facilitating the study of the causal relationship between factors that create customer satisfaction and loyalty. Therefore, the first goal of the CSI approach is to explain customer loyalty to a business, a country in general or a product in particular through the customer satisfaction index when directly or indirectly affected by the image, expectations, perceived quality and perceived value of that product and service.
1.1.4. Proposed research model:
1.1.4.1. Related studies:
Master thesis: “Measuring the quality of Internet – Banking services of Asia Commercial Joint Stock Bank, Da Nang branch” by Nguyen Lam Hoang Yen (2013)
The topic uses the SERVPERF research model to measure the quality of Internet-Banking services of Asia Commercial Bank, Da Nang branch. From there, propose solutions to improve the quality of bank services to bring satisfaction to customers.
In the research topic: "Evaluating the satisfaction of individual customers when using services at SeABabk Commercial Joint Stock Bank - Da Nang branch" by Nguyen Thi Anh Tho (2019)
The research model used in this topic is the SERVPERF model, which the author uses to evaluate customer satisfaction with service quality at SeABabk Joint Stock Commercial Bank - Da Nang Branch. Applying a 5-level Likert scale (Totally disagree, disagree, neutral, agree, completely agree). According to this research topic, there are 5 independent variables (including tangible means, work ability, responsiveness, reliability, empathy) affecting service quality at SeABabk Joint Stock Commercial Bank - Da Nang Branch. After analyzing the results, all 5 independent variables have a positive impact on customer satisfaction.
1.1.4.2. Proposed research model and hypotheses:
Based on practical issues, theoretical foundations and previous research works combined through the research process using group discussion methods and direct surveys of individual customers, the author proposes the following research model including 5 independent variables, 1 dependent variable and 23 observed variables.
Figure 6: Proposed research model
The factors in the model are explained as follows:
- Reliability: Defined as the ability to provide the promised service dependably and accurately. It is keeping promises about service delivery, price, handling customer complaints, and demonstrating the ability to perform the service properly and on time the first time.
- Responsiveness: is the ability to serve expressed when employees contact customers, employees directly perform services, the ability to research to grasp relevant information necessary for customer service, making customers trust the company. This ability is shown through the company's reputation, the personality of service staff who directly communicate with customers.
- Service capacity (Assurance): professional knowledge and polite, friendly style of service staff, readiness and especially quick resolution of customer complaints and questions.
- Empathy: involves making it easy for customers to access services, such as shortening customer waiting times, convenient service locations and opening hours for customers. Explaining to customers in a way that is easy to understand and listening to issues related to them such as explaining services, costs, resolving complaints and questions. Demonstrated through the ability to understand and grasp customer needs through understanding customer requirements and caring about them personally.
- Tangibles: Focus on elements of the appearance of the service such as appearance, uniform of service staff, equipment supporting the service, facilities, and staff dress.
Research hypothesis : Research on the quality of consumer lending services of Dong A Bank - Hue Branch through factors. From there, it is possible to evaluate customer satisfaction with the quality of consumer lending services here. With the above research model, the research hypotheses are as follows:
+ H ₁ : There is a positive relationship between the reliability of the service provider, which is the system of customer services provided by the bank, and the satisfaction of individual customers when using the service.
+ H ₂ : There is a positive relationship between the responsiveness of the service provider, which is the system of customer services provided by the bank, and the satisfaction of individual customers.
+ H ₃ : There is a positive relationship between the service capacity of the service provider, which is the system of customer services provided by the bank, and the satisfaction of individual customers.
+ H ₄ : There is a positive relationship between the level of empathy of the service provider, the overall attitude and emotions of all bank employees, and individual customer satisfaction.
+ H ₅ : There is a positive relationship between the tangible means of the service provider, which are the entire facilities and infrastructure serving customers when they come to conduct transactions at the bank, and the satisfaction of individual customers.
1.1.4.3. Scale encoding :
a) Scale of reliability, service capacity, responsiveness, tangible means, empathy about service quality at Dong A Commercial Joint Stock Bank - Hue Branch:
Evaluation criteria
Encryption | ||
Trust | ||
1 | The bank always fulfills its commitments to customers. client | TINCAY1 |
2 | Good security of customer information | TINCAY2 |
3 | Is a reputable bank | TINCAY3 |
4 | Banks provide accurate information to customers | TINCAY4 |
Service capacity | ||
5 | Bank staff with good professional qualifications | PHUCVU1 |
6 | Ability of employees to work quickly and accurately bank | PHUCVU2 |
7 | Bank staff always provide service information. necessary for customers | PHUCVU3 |
8 | Bank staff always satisfactorily resolve complaints. customer complaints | PHUCVU4 |
Responsiveness | ||
9 | Bank staff are always ready to serve customers | DAPUNG1 |
10 | The bank is always a pioneer in providing products and services. New service packages to meet growing customer needs | DAPUNG2 |
11 | Documents and credit forms at Dong A Bank are designed | DAPUNG3 |
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simple, clear | ||
12 | Fast loan time | DAPUNG4 |
Tangible means | ||
13 | Bank employees work in neat uniforms, polite | HUUHINH1 |
14 | The bank's infrastructure is spacious and modern. | HUUHINH2 |
15 | Clean, airy and comfortable trading space | HUUHINH3 |
16 | Convenient and safe parking | HUUHINH4 |
Empathy | ||
17 | Staff regularly care and visit customers before and after disbursement | DONGCAM1 |
18 | There are many promotions and gifts on the occasion Holidays, anniversaries, customer birthdays | DONGCAM2 |
19 | The bank arranges specialized staff to meet the requirements. customer request | DONGCAM3 |
20 | The bank always listens to customers' feedback. row | DONGCAM4 |
b) Scale of individual customer satisfaction with service quality at
Dong A Commercial Joint Stock Bank – Hue Branch
Evaluation criteria
Encryption | ||
Satisfaction | ||
21 | You are satisfied with the quality of consumer loan services. used at Dong A Bank | HAILONG1 |
22 | You will continue to use lending services at Dong A. Bank | HAILONG2 |
23 | You will introduce Dong A Bank to your friends and colleagues. career and relatives | HAILONG3 |
1.2. Experience in improving individual customer satisfaction with the quality of consumer lending services at some banks and lessons learned for Dong A Commercial Joint Stock Bank - Hue Branch.
1.2.1 Experience from Asia Commercial Joint Stock Bank (ACB)
With the plan to develop into one of the leading retail banks in Vietnam, Asia Commercial Joint Stock Bank (ACB) has introduced to the market many convenient financial products and services. The investor's money account management product is a product associated with the Securities Company with the aim of providing an effective comprehensive financial service package for securities investors. With the launch of this product, customers can perform unlimited banking transactions on their deposit accounts during the securities trading session, even when placing securities buying and selling orders. The service is completely free for investors and affiliated securities companies.
ACB also implements the “Super Flexible” policy for new savings accounts in VND of individual customers with a term of 2 or 3 months. This is ACB’s policy to ensure the best benefits for customers when they need ACB’s policy to ensure the highest benefits for customers when they need flexible capital.
1.2.2. Experience from Techcombank
In 2017, Techcombank announced the completion of its partnership with 16 motorbike shops across Hue City to provide loans to motorbike buyers. This is a new feature in the cooperation direction of banks, instead of introducing and providing loan products at transaction counters, customers can access this loan source right at the shop where they are buying. This trend shortens the time and procedures for customers, and is also a way for banks to specialize products according to each customer's needs.
In terms of procedures, it is also much simpler and more convenient for customers to buy cars. With the participation of banks, customers have access to capital.