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Vattanac Bank relies on customer feedback and trust for success

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Vattanac Bank Executive Director Chan Kok Choy in front of a teller at Vattanac Bank’s head office inside Vattanac Tower. Victoria Mørck Madsen

Vattanac Bank relies on customer feedback and trust for success

WHEN Vattanac Bank moved their head office into the prestigious Vattanac Capital Tower last year, it stood as a strong statement of the bank’s progress, confidence and mission to “strive to be regarded as a local bank with international standards,” said Executive Director Chan Kok Choy.

While Chan humbly promises to lead Vattanac Bank towards international standards, the world has already recognised the bank for its excellence. Earlier this year, the prestigious Global Financial Review, which is based in the UK, gave Vattanac Bank the award for Best Customer Service Bank Cambodia 2015, as well as the award for Best Bank for Premier Banking Cambodia 2015.

Rather than resting on this recent success, Vattanac sees such distinctions as a process of “continuous monitoring and discussion at branch and head office level that helps to ensure quality of efficient and courteous service”.

Vattanac’s claim to excellence in terms of customer service comes from the diligence of the management and customer service committee that reviews all actions, and is itself reviewed on a monthly basis. The input comes from the customers themselves and allows for an ongoing process of improvement.

“We take immediate action upon receiving negative feedback from a customer. Certain cases are escalated to responsible staff for action depending on the nature of the complaint. We appreciate customers’ feedback, and keep them updated about the progress of actions taken,” Chan said.

These internal institutions of best practice in customer service are not only used to develop the general service quality, but also the array of products which the bank offers.

In order to gradually guide customers into the age of internet and mobile banking, Vattanac Bank has introduced digital products to both corporate and retail clients, and made adjustments based on the customers’ feedback.

“Our staff has been trained to assist and answer queries from customers. It is important for us to educate our customers on how to use the services and get their feedback for improvement,” Chan said. He added, “As a bank, we need to balance the customers’ requirements for convenience and manage the risks in order to comply with the requirements of the National Bank of Cambodia.”

Other than integrating customer feedback into product and service development, Vattanac Bank even lets customers have a say in the operations and conduct of their staff at their numerous branches.

“Customers can immediately give their feedback about the performance of our staff through the electronic feedback system placed on all of the counters,” he said.

Elaborating on the reasons for the electronic feedback system, Chan explained that, “[Vattanac Bank] wants to provide a positive banking environment for our retail and premier customers.”

This environment materialises throughout Vattanac Bank’s branch locations in the form of a proper waiting area and open counters where staff can serve and interact with the customers. Additionally, customers have access to rooms where they can have private discussions, and premier customers can even enjoy other benefits and facilities in the Premier Banking Lounge. As an extra benefit to customers, the main office in Vattanac Tower’s second floor is open seven days a week, from 9am to 6:30pm.

As more and more customers sign up for Vattanac’s products and services, Chan sees the opportunity to deepen the success of the bank across the Kingdom.

“We plan to open a few new branches in 2016, including ones in Battambang, Vattanac Industrial Park II along National Road 3, and in Takhmao. We are also looking into opening branches in other provinces,” he said.

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