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Banking & Finance

Banks must bolster customer service efforts

Released at: 12:42, 22/07/2015

Banks must bolster customer service efforts

SBV meeting hears that banks need to further ease administrative procedure and publicize charges and fees.

by Hoai An

The State Bank of Vietnam organized a conference on July 21 regarding the reform of administrative procedures at domestic banks and improvements to customer service quality. Director General of the SBV Office, Mr. Le Thanh Tung, said the central bank and commercial banks have made great efforts already to reform administrative procedures with the extensive application of information communication technology (ICT) and customer service quality has also improved greatly.

Enterprises previously had to complete a number of administrative procedures to obtain a bank loan. Some required dozens of signatures with complex conditions but are now much simpler. Some loans, for example, can take just one and a half hours to be approved.

Deputy General Director of Vietcombank Nguyen Danh Luong proposed an extension to transaction times to resolve problems surrounding differences in time zones. Mr. Le Trung Thanh, Deputy General Director of BIDV, said the bank has simplified its procedures, cutting the number of documents required for a loan from 50 down to about 20. The introduction of internet banking and mobile banking has also helped customers and enterprises to complete transactions quickly.

Regarding cash services, some banks such as Kien Long Bank have designed a program for automated note listing, for greater convenience, while Eximbank has implemented fingerprint authentication at its counters instead of ID cards or passports. Banks such as Vietinbank, BIDV, Sacombank, An Binh and Vietbank, meanwhile, have established 24/7 customer service centers to receive and process feedback and complaints from customers.

Mr. Tung also spoke of problems involving customers complaining about ATM services, as the applicable charges and fees are not clear and service quality in some areas falls short of expectations. Procedures remain complicated and inflexible in this regard.

Deputy Governor of the SBV Dao Minh Tu asked that banks publicly announce their charges and interest rates and ensure information security in electronic transactions for customers. He also asked that banks address customer feedback and complaints quickly.

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