Case Study Of A Letter To A Bank Manager

It follows a strong internal control system for cash. A separate person is appointed to approve all purchases, payroll and any disbursement of cash. At the end of each month company prepares bank reconciliation statement to reconcile cash book balance and bank statement balance. Company keeps proper inventory record system. All these prevent frauds and ensure smooth functioning of the business.

Banks owe their customers a number of duties so long as the banker-customer relationship is formed . The banker-customer relationship will normally be governed by the law of contract. However,

This method we believe allows us to see our profits, resources, debts and other information that will give us a more realistic view on where we stand as a company. match the economic reality.

My dog Peyton has severe allergies , which affected him to not use any store – bought dog treats. Peyton allergic reation to dog treats had inspire me to start my own business to make all natural and hypoallergenic dog treats for any dogs who suffer from severe allergies . “ Peyton Approve “ company was established in 2005 and has been around 10 years with booming sales . To expand my doggy treat business to be moresuccessful, it would be best to open up a dog treat bakery . The only problem that’s holding me back from opening up the bakery is not having enough money . This memo will discuss the importants of why my business is ready to receive it’s own bakery by analyzing the accountant reports to show in numbers of how well my store can handle paying expenses , debts , while operating a business .

To elaborate further, a banking representative is required to present or extend some kind of product referral after every conversation. The representative makes the referral and phrases something incorrectly. If the consumer misinterprets the information and later disputes the validity of a debt, a lawsuit will arise. Most of the time, if the expense is petty, a firm will pay out a demand without dispute. If the issue goes to court and is pursued, the conversation between the representative and the consumer will be reviewed and interpreted in favor of the consumer. As a result of common complacency issues, the government imposed regulations to reduce the frequency of claims. Preventing unnecessary suits, fees, or fines is a priority amongst all financial institutions and Sun Trust should have incorporated such external influences in their risk register along with contingencies to resolve the issues and implement preventative measures.

One of the main issues that customers faced when visiting a branch, was the unavailability of their service provider. Managers wanted to close this gap in service design by providing individualized services to their customers to understand their needs and build interpersonal relationships with them. The best way to achieve that was by assigning an account team to each customer. The team consisted of bankers who worked closely with the customer to figure out their needs and offer them solutions. This initiative have also managed to close the listening gap-1 which increased the customers’ satisfaction level.

* Customer Dissatisfaction - Delivery and quality problems invariably result in decreased customer satisfaction, which may be compounded by poor service

Customer complaints have over doubled in the last few years. This shows some big issues in the customer service management. Research which areas customers are most dissatisfied with and support the staff in gaining new skills to meet the customers ever changing needs.

Recently I have noticed more consumer complaints from poor service, more specially, service mistakes and customer mistreatment. When a mistake occurs, we do not handle customers in a courteous manner. In addition, we play favorites with customers and some of them are not getting the attention they require. To

Customers want to be treated in a friendly manner with honest, straightforward information and responses. They appreciate a customer service representative who is willing to admit mistakes and work to correct them. Customers who believe they have been misled stop doing business with the company. These ‘critical incidents’ are experiences that make the customer walk away and never return. They don’t complain, they just leave and share the negative service experience with others. The bad news spreads, leading the organisation to lose more customers and deterring prospective customers. Critical incidents can include broken promises that annoy and anger customers. Customers expect to be informed if a promise cannot be fulfilled. Finally, customers expect understanding and empathy from a customer service representative who is willing to see things from their point of view, especially when there is a problem.

Objective: To find out the risk of customers using bank accounts and provide methods for mitigation of the highest priority residual risk.

In the case, Bowman reveals that customer dissatisfaction is becoming a prevalent issue for the company. Customers are filing complaints and making angry phone calls with regards to a steady decline in their job satisfaction. In the case, it is mentioned that Sinclair ignores these complaint related calls and this adds to the customers’ frustration. Jobs are being postponed months into the future and invoices are being billed incorrectly. Bowman handles as many complaints as she can, however, she cannot find the time between dealing with her own responsibilities.

Pamela was not the only unhappy person at her branch. Her immediate supervisor, George Burns, complained that because of the bank’s economy drive, vacated customer service positions were left unfilled. As branch accountant, Burns was responsible for day-to-day customer service. As a result, he was unable to perform the duties of his own job. The manager told Burns several times that customer service was critical, but that Burns would have to improve his performance on his own job. Eventually, George Burns left the bank to work for a trust company, earning seventy dollars a month more for work similar to that he had been performing. This left Pamela in the position of having to supervise the same tellers who had trained her only a few months earlier. Pamela was amazed at all the mistakes the tellers made but found it difficult to do much to correct their poor work habits. All disciplinary procedures had to be administered with the approval of Head Office.

The issues encountered can occur on both the company and customer side, among them are the

This interaction in the service encounter has an effect on the quality of service being offered for example where customer are waiting in a queue to collect airline tickets and customer ‘C’ decides to jump the queue. This will result in customer ‘A” and or ‘B’ complaining and perceiving poor service offering as there is no measure to safe guard an uninterrupted service consumption.\