Why do bank customers encounter challenges when availing services – whether through branch visits or mobile applications? Is this a critical issue within the realm of customer service? How do banks actively monitor and address customer issues in real-time? What role does the Central Bank of Oman play in overseeing this matter?

Commencing this discourse in an academic manner, let us delve into the perspectives of theorists regarding customer services. According to Turban et al. (2002), “Customer service is a series of activities designed to enhance the level of customer satisfaction– that is, the feeling that a product or service has met the customer expectation.”

Pine and Gilmore (1998 and 1999) were among the early scholars to explore the concept of the customer experience. In their 1998 paper, “Welcome to the Experience Economy,” and the subsequent 1999 book, “The Experience Economy – Work is theatre and every business a stage,” Pine and Gilmore observed that as services become more commoditized, forward-thinking companies compete based on the quality of experiences they provide.

Applying the notion of “Work is theatre and every business a stage,” it can be posited that bank customers might encounter fewer issues if bankers, from top to bottom, effectively play their roles and empathize with the experiences of their customers.

“I have been unable to use my bank card for thirteen days, even after updating my details as per the bank’s request during a branch visit,” expressed a customer. He continued, “My family and I faced financial challenges due to the account blockage. Do banks have the right to block accounts if customer information is not updated? What if a customer’s cheque bounces or they can’t pay utility bills due to an account block?”

Another customer shared the ordeal of rescheduling a retail loan, stating, “I had to take a day off from work to visit the branch for loan rescheduling, and the entire process took forty-five days.” Expressing surprise, I inquired, “Forty-five days?” The customer explained, “First, the bank misplaced my loan file, then there were miscalculations, necessitating multiple branch visits just for paperwork.” This is a sector where banks often reap substantial profits, charging retail borrowers nearly 6 percent.

Credit cards, a lucrative product for commercial banks, present their own set of challenges. One customer was issued three credit cards without request. Such issues are unfortunately prevalent in the banking sector. 

However, is this practice conducive to positive outcomes?

Have bankers ever considered the value of their customers’ time? Respecting customers’ time through prompt and excellent customer service is imperative. The customer experience holds significant importance in ensuring a positive and efficient banking relationship.

About the author: Academic Lecturer and Advisor, Oman College of Management and Technology 

Disclaimer : The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of TAS and TAS does not assume any responsibility or liability for the same.