An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector: A Case of CBZ Bank Limited (2013)

Submitted By Vengai Kudakwashe R095747G In Partial Fulfillment of the Coursework of Research Methods and Projects II (BS480) In The Business Studies Department, Faculty of Commerce University Of Zimbabwe 30 April 2013

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

2013

This report is dedicated to my family and friends.

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An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

2013

ACKNOWLEDGEMENTS
I would like to express my deepest gratitude and appreciation to the following: My Lecturer, Dr. N. Kaseke, for his support and academic insight on the subject of service delivery. Mr. J. P Sai for his assistance with data analysis. My Friends Tafadzwa Matombo, Tafadzwa Mupangabuwe, Tafadzwa Nyandoro and Talent Gosho for their assistance with language editing.

My family and friends for their encouragement counsel and support. All the respondents that participated in my survey.
To Jehovah I give my profound gratitude for His guidance throughout the journey.

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An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

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DECLARATION
I, Kudakwashe Vengai, hereby declare that:

the content in this project is my original work; all sources used have been acknowledged and documented by means of a complete reference list and; This report has not been previously submitted in full or partial fulfilment of the requirements for an equivalent or higher qualification at any other recognised institution.

.. Kudakwashe Vengai

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An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

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Abstract
This paper will assess the relationship between service delivery and customer satisfaction. Through relevant literature the researcher will prove the positive relationship between quality service delivery and customer satisfaction. The research also from literature will prove that service delivery and its determinants or variables are the main if not only influencers of customer satisfaction. Once this positive relationship has been proved and the variables identified, the researcher will measure the level service delivery at CBZ Bank Ltd, in Zimbabwe through analysis of a questionnaire administered to 41 respondents and consequently deduce whether CBZ Bank Ltd Clients are satisfied or not, through the use of the SERVQUAL Model as developed by Parasuraman, Berry and Zeithaml (1985).

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

2013

Table Contents
CHAPTER 1 - Introduction 1 Introduction ........................................................................................................................ 1 2 Background of Study ......................................................................................................... 1 2.1 2.2 2.3 3 4 5 6 7 8 9 10 A Global Banking Perspective .................................................................................... 1 Zimbabwean Banking ................................................................................................. 1 CBZ Bank Limited ...................................................................................................... 1

Statement of the problem ................................................................................................... 2 Research Questions ............................................................................................................ 2 Research Objectives ........................................................................................................... 2 Research Proposition ......................................................................................................... 3 Significance of study.......................................................................................................... 3 Scope of the Study ............................................................................................................. 3 Outline of the Study ........................................................................................................... 3 Chapter Summary .............................................................................................................. 4

CHAPTER 2 - Literature Review 1 Introduction ........................................................................................................................ 5 2 3 4 5 Definition of Terms............................................................................................................ 5 Literature Review............................................................................................................... 5 Service Quality Model Used in This Study ....................................................................... 7 Chapter Summary .............................................................................................................. 7

CHAPTER 3 - Methodology 1 Introduction ........................................................................................................................ 8 2 Research Design................................................................................................................. 8 2.1 2.2 3 3.1 3.2 Research Strategy ........................................................................................................ 8 Research Approach ..................................................................................................... 8 Population.................................................................................................................... 9 Sampling...................................................................................................................... 9 Sampling Unit ...................................................................................................... 9 Sampling Frame ................................................................................................... 9 Sample Size.......................................................................................................... 9 Sampling Method ............................................................................................... 10

Population and Sampling ................................................................................................... 9

3.2.1 3.2.2 3.2.3 3.2.4 4 4.1 4.2 4.3 5

Data Sources .................................................................................................................... 10 Nature of Data to Be Collected ................................................................................. 10 Primary Data ............................................................................................................. 10 Secondary Data ......................................................................................................... 10

Research Instrument......................................................................................................... 10 VI

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

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6 7

Data Processing and Analysis .......................................................................................... 10 Ethical Considerations ..................................................................................................... 11 7.1 7.2 7.3 7.4 In Questionnaire Drafting.......................................................................................... 11 In Questionnaire Administering ................................................................................ 11 In Data Analysis ........................................................................................................ 11 Reliability and Data Validation ................................................................................. 11

Chapter Summary ............................................................................................................ 11

CHAPTER 4 - Research Findings 1 Introduction ...................................................................................................................... 12 2 3 Demographic Aspects ...................................................................................................... 12 Objectives and Results ..................................................................................................... 16 3.1 Identify if service delivery is one of the variables that influence Customer Satisfaction ........................................................................................................................... 16 3.2 Proving if quality service delivery alone can result in Customer Satisfaction and Loyalty ................................................................................................................................. 18 3.3 3.4 4 Determining measurement tools for service delivery in the banking sector ............. 19 Level of service delivery at CBZ Bank Ltd .............................................................. 19

Chapter Summary ............................................................................................................ 24

CHAPTER 5 - Conclusions and Recommendations 1 Introduction ...................................................................................................................... 25 2 Conclusions:..................................................................................................................... 25 2.1 Objective 1: To identify if service delivery is one of the variables that influence Customer Satisfaction. ......................................................................................................... 25 2.2 Objective 2: To prove if quality service delivery alone can result in customer satisfaction and Loyalty. ...................................................................................................... 25 2.3 Objective 3: To determine measurement tools for service delivery in the banking sector. 25 2.4 3 4 Objective 4: To measure the level of service delivery at CBZ Bank Ltd. ................ 26 Validation of Research Proposition ................................................................................. 26 Recommendations ............................................................................................................ 26

References ................................................................................................................................ 27 Appendix .................................................................................................................................. 29

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Table of Figures:
Figure 1: Representation of Respondents by Gender .............................................................. 12 Figure 2: Age Distribution of Respondents ............................................................................. 13 Figure 3: Level of Education Distribution For Respondents ................................................... 14 Figure 4: Income Distribution of Respondents ........................................................................ 14 Figure 5: Nationality of Respondents and Sector of Employment .......................................... 15 Figure 6: Individual Occupations For Respondents................................................................. 16 Figure 7: Service Quality Model .....18 Figure 8: Attributes of Quality Service Delivery leading to customer Satisfaction 18 Figure 9: Distribution Curve For Service Delivery Responses ...19 Figure 10: Total Service Delivery Perception Divided By Attributes of SERVQUAL...20 Figure 11: Weighting of Attributes According to Respondents.20 Figure 12: Responses on Questions Related to Tangibles...........21 Figure 13: Responses on Questions Related to Reliability ...................................................... 22 Figure 14: Level of Agreement According to Level of Income .............................................. 23 Figure 15: Level of Agreement According to Level of Education .......................................... 24

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CHAPTER 1 INTRODUCTION
1 Introduction
The purpose of this study is to assess the level of service delivery and customer satisfaction in the banking system. This study seeks to establish the relationship between service delivery and customer satisfaction and then seek to infer if the level of service delivery at CBZ bank has led to customer satisfaction. This chapter will be outlined as follows; Section 2 will give the background on service delivery, customer satisfaction and the banking industry, Section 3 will state the problem statement, Section 4 and 5 will give the objectives and research questions while Section 7 and 8 will give justification and well as Scope of the study.

2 Background of Study
2.1 A Global Banking Perspective
Anderson, Lehmann and Fornell (1994:54) and Cohen, Gan, Choong, Yong (2006) both agree that financial industry and banking sectors across the globe have been growing and increasing in complexity on a daily basis, they point out that we have moved from a point where clients stick with their banks through everything. Technology they say has changed the loyalty of banks with clients switching banks more frequently than before. Both articles stress that customer fulfilment and satisfaction are the cornerstones for continued existence in this highly competitive international financial market.

2.2 Zimbabwean Banking

Industrial Psychology Consultants (2012) state that, Zimbabwean bank clients where largely agitated with the level of customer engagement in the industry. Their report exposes the meagre condition of the Zimbabwean banking service delivery system and it is against this background that this researcher would like to determine if the particular level of service delivery, in the largest bank in the country is whats driving its success or otherwise.

2.3 CBZ Bank Limited

Named Commercial Bank of Zimbabwe (CBZ) in 1991, the bank had its organs in 1980 where it had been established as the Bank of Credit and Commerce Zimbabwe Ltd.

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

2013

Predominantly owned by government the bank listed on the local exchange after the government disposed of its shareholding in 1998. Later in 2004 the bank assumed a new vision and established itself as the corporation CBZ Holdings. [Source, www.cbz.co.zw ] Today CBZ Holdings which includes among others, subsidiaries in banking, asset management, life assurance, banc-assurance and real estate is integrating its affiliates in an endeavour to provide all its services under one roof. CBZ Holding is striving for consolidation of activities in all its business areas and has since adopted a new vision, To be the Bank of Choice as well as a new payoff line Partners of Success. [Source, www.cbz.co.zw ] The new drive seems to be paying off as seen by the substantial growth of CBZ Bank assets and deposit with the bank being the largest bank in Zimbabwe and winning accolades like those won during the Customer Service Week in 2012. Consequently one has to ask, What are they doing right that other banks are failing to follow. [Source, www.cbz.co.zw ]

3 Statement of the problem

The Purpose of this paper is to assess the level of service delivery and customer satisfaction in the banking industry. The paper will seek to identify important aspects of service delivery that lead to customer satisfaction as well as prove if CBZ Bank Limited (Zimbabwes largest bank by assets base and deposit base) clients are satisfied with the level of service delivery at the bank.

4 Research Questions
This study seeks to answer the following research questions: 1. Is Service Delivery one of the variables that influence Customer Satisfaction? 2. If so, could quality service delivery alone result in Customer Satisfaction and Loyalty? 3. How can we measure service delivery in the banking sector? 4. What is the level of service delivery at CBZ Bank Ltd?

5 Research Objectives
The Research Objectives are therefore:

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

2013

1. To identify if service delivery is one of the variables that influence Customer Satisfaction. 2. To prove if quality service delivery alone can result in customer satisfaction and Loyalty. 3. Do determine measurement tools for service delivery in the banking sector. 4. To measure the level of service delivery at CBZ Bank Ltd.

6 Research Proposition
The Research Proposition by this Researcher is therefore: Quality service delivery, which is offered at CBZ Bank Limited is the major reason why CBZ Bank Limited clients are satisfied and loyal to the bank hence its massive deposit base

7 Significance of study
With the adoption of the multicurrency system, many banks have been on a drive to increase their deposit base. And in a Five Billion dollar economy with over 20 Banks, one might be tempted to say that we are over banked. However economists and bankers are failing to understand the obvious that the best way for an increase in the deposit base and liquidity is through delivering exceptional service to bank clients, this will install confidence and loyalty which in the long run increases the use of financial services. This paper seeks to establish this fact through an analysis of the relationship between service delivery and customer satisfaction within the biggest bank within the Zimbabwean economy.

8 Scope of the Study

This study will make use of only CBZ Bank clients who live within the City of Harare and also the scope of analysis will be variables within the SERVQUAL model for service delivery and customer satisfaction measurement.

9 Outline of the Study

Chapter One presented the introduction and background of the study as well as the research question, objectives, research proposition, significance of the study and limitations of the study. Chapter Two will provide the literature review as well as the model used to test for service delivery quality at CBZ Bank. 3

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Chapter Three fully discuss the research methodology. This chapter elaborates on the data analysis methods to be used to analyse the empirical research. Chapter Four will illustrate the empirical results. This chapter will also show the reliability and validity of the independent variables against the dependent variable. Chapter Five will summarise, as well as conclude, the research findings. The Short comings of the study will be stated, as well as some recommendations for future studies.

10 Chapter Summary
This chapter just gave a brief introduction to the research topic as well as a background of the company. The chapter also presented readers with the research questions, objectives and propositions as well as outline the significances and scope of the whole study.

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

2013

CHAPTER 2 LITERATURE REVIEW

1 Introduction
Service delivery and customer satisfaction are terms that have been used in all the different business sectors; however they carry a deeper meaning in services industries such as banking as they are usually the cornerstones of success. The following chapter will define service delivery and customer satisfaction as well as establish the relationship between the two and deliberate on different methods used in the past to measures their impact on each other.

2 Definition of Terms
Customer satisfaction within banking circles can be put forward as meeting the customers expectations (Bloemer, Peeters and Ruvler, 1998). Furthermore it can also be regarded as the optimistic assessment of the service quality delivery process and the results of the process (Amudha, Surulivel and Vijaya Banu, 2010:14). Customer satisfaction might therefore result from a summation of expectations, desires and related outcomes. Quality Service Delivery on the other hand has been summarised the whole process of bring value to a client in the act of providing a service or product of value (Amudha et al., 2010:14). This can be explained as the whole packaged offered by a business to client from front office services, buildings, image, interaction, and the actual products.

3 Literature Review
Debate on service quality started in marketing literature around 1985. Parasuraman, Berry and Zeithaml (1985) argued that the quality of service is not within the result/outcome but is also embedded in the service delivery process. The authors also developed a model (SERVQUAL) for assessing service delivery quality and its bearing on customer loyalty, satisfaction and fulfilment. Their research initially gave 10 dimensions of service quality which were then further refined into 5 (That is; Reliability, Tangibles, Responsiveness, Empathy, and Assurance). These dimensions were then used to make a 22 item research instrument to gauge customer expectations and perceptions of the dimensions. (Parasuraman, et al., 1985, 1988, 1990, 1991) Rogelio (1996) also argued for the need to develop scientific ways of measuring service quality. His argument is largely valid as a result of the fact that without proper ways to 5

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measure satisfaction and its bearing on profit banks focussed on control issues including among other workflow costs while under investing in service delivery subsequently resulting in poor sales, quality and lower customer satisfaction. The SERVQUAL model to service quality though widely used today was largely critiqued by Buttle (1996:12), Danenberg and Sharp (1996) and DallOlmo Riley, Ehrenberg, Castleberry, Barwise, And Barnard (1997:449). Where Danenberg and Sharp (1996) doubted the actual possibility of measuring behaviour, arguing that probabilistic measures would be more effective. However their arguments did not dampen the relevance of measuring service quality or its relevance to customer satisfaction or profitability, DallOlmo Riley, et al. (1997:449) even while arguing the relevance of the SERVQUAL model encourage both research and managers to ask questions about service delivered and its impact but rather using a more direct Action Vs Outcome Model. DallOlmo Riley, et al. (1997:448) also noted that though important to measure such survey might mislead managers as clients might give different attitudinal responses to the same question in just but a few days. The importance of service quality delivery had also ne earlier emphasised by Cronin and Taylor (1992:55-58), who had urged service industries to use a performance measure (SERVPERF) in measuring customer satisfaction. Tested in five industries they model did prove that service delivery quality was indeed a leading factor to customer satisfaction however they model was discounted as a result of its omission of customer expectations from the measurement (Cronin and Taylor; 1992, 1994). Recent literature still agrees on the impotence of the service delivery process as a major factor in achieving customer satisfaction, however each author argues for the development of better models of service quality measurement. Gan, Cohen, Clemes and Chong, (2006) stated that banking institutions as well as financial services firms were progressively developing more and more pronounced service quality delivery initiatives. Like in past research Gan and others developed a perception based model to measurement however their biggest contribution to research was their emphasis on the development by banks of an integrated approach to service quality as a result of evolving customer expectations (the new global relationship banking model) also highlighted by Lewis (1993:22). Amudha, et al. (2010:15) argued high levels service quality delivery also determined customer loyalty; his research is supported by earlier research by Zeithaml, Parasuraman and 6

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Berry (1996:31) who had presented a conceptual model of the impact of service quality delivery on customer loyalty. Research on different companies (by the same) investigating on the above said relationship proved that loyal behaviour in customer was significantly influence by the company level of service delivery A lot can be said of the measurement of service quality however one of the most important tools in literature is the Customer service process (ADAT), Amudha, et al.,(2010:16) states that the process includes, Acknowledging (Greeting a Customer), Determining (Analysing needs and wants), Accommodating (Satisfying request quickly and efficiently) and Thanking (Appreciating A Customer, confirm satisfaction). It is from this process that one can develop the variables that determine customer satisfaction. And these developed variables can be measured and their importance determined. Once determined, one will then recommend to management what customers perceive as important and what their expectations of the service delivery process are.

4 Service Quality Model Used in This Study

This Research Combined a number of models to come up with appropriate technique in carrying out this research. The main model used was the SERVQUAL model by Parasuraman, et al., (1985). The research made use of the five dimensions and the 22 items to measure customer perception and expectations, however due to its limitations, the research also include within his model a performance based measure of quality. The performance based measure part of the research is mainly based on actionable service attributes like turnaround times.

5 Chapter Summary
The chapter has answered our first two objectives about the role of service delivery in customer satisfaction. It can be concluded that yes, service delivery influences customer satisfaction and that alone it could result in customer satisfaction and loyalty. This chapter also gave us the SERVQUAL model a bases by which we can measure service delivery and its impact on customer satisfaction for a particular business hence the model will be used in the following chapters to answer the last objective.

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

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Chapter Three Research Design and Methodology

1 Introduction
This chapter represents the research methodology used within the study. It illustrates the research design used in this study. The sampling design contains the population, sampling frame, sampling units as well as the sample size. This chapter also contains the data sources and proposed data validation techniques.

2 Research Design
2.1 Research Strategy
The researcher has used the strategy of carrying out a survey of how customers perceive the quality service delivery process at CBZ Bank. Advantage: The data obtained will be primary data from actual CBZ Clients hence it will not reflect what the bank does or promises to do but how clients perceive bank actions and actually actions done. Disadvantage: Will need a large sample to reflect meaningful results as smaller sample might be biased

2.2 Research Approach

According to Collis and Hussey (2003:18), there are two major research paradigms, qualitative and quantitative. The qualitative is sometimes referred to as a subjective, humanistic approach while the quantitative is referred to as the objective, experimental, scientific or traditional approach to research. The quantitative philosophy forms the basis of the study. Within the quantitative approach one applies deductive rather than inductive approach; also one can search for cause and effect relationships through hypothesis testing and regression analysis. This approach is considered more reliable and accurate, however validity is often questioned as in most studies it is

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

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difficult to apply (Collis & Hussey, 2003:18). Babbie (2003:392) states that, quantitative research is the, numerical examination and interpretation of observations. Qualitative research was not chosen because of its lower levels of reliability especially if research is repeated (Collis & Hussey, 2003:19). However it has higher levels of validity and uses content analysis in data analysis as well as a significant dependability on descriptions (Creswell, 2009:184). Given the SERVQUAL model used, quantitative rather than qualitative has been deemed to be a more useful approach.

3 Population and Sampling

3.1 Population
The Population for this study has been will be all active CBZ Bank Clients, where as the target population will CBZ Clients within the vicinity of Harare City during the survey.

3.2 Sampling
3.2.1 Sampling Unit The sampling unit will be an account holder with CBZ who can be an Individual, A corporate, a Trust, Association, Government, Municipality etcetera 3.2.2 Sampling Frame The sampling frame from which sample units will be chosen will be all CBZ Clients Resident in Harare at the time at which the Survey is conducted. 3.2.3 Sample Size The sample size will be 401 Sampling Units/ CBZ Clients of which at least 30% should be female. The sample size has been chosen to be above 30 so as to be able to use a normal distribution rather that a t-distribution. The 30% female quota is to be a representation of females in the sample as they approximately own 30% of Bank accounts held at CBZ bank.

In the carrying out of the survey, a total of 41 respondents responded to the questions hence the sample size increased by one unit

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

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3.2.4 Sampling Method The Researcher will make use of Quota Sampling where Females are expected be at least 30% of the sample drawn, in choosing the individuals convenience sampling will be used.

4 Data Sources
4.1 Nature of Data to Be Collected
Data to be collected is primary data; however analysis will also be based on secondary data from other researches/studies for data validation purposes.

4.2 Primary Data

Primary Data will be in the form of research data gathered from respondents during the survey

4.3 Secondary Data

Secondary data used will data from other related surveys done for example the Customer Engagement Report by Industrial Psychology Consultants (2012)

5 Research Instrument
A standard questionnaire will be administered to respondents in carrying out the survey. The questionnaire is self administered and will contain three sections Section A, B and C where section A will be a weighting basis for analysis, Section be will be the 22 point items from the SERVQUAL model administered through a 5-likert scale ranging from strongly disagree to strongly agree, while Section C will be biography information. The questionnaires has been adopted from Siddiqi (2011) and is presented in the Appendices Section..

6 Data Processing and Analysis

Data processing will be carried out using Excel, where analysis will be based on statistical parameters such as measurers of central tendency and measures of dispersion. Statistical data maybe also be used to make inferences for the whole CBZ Clientele population.

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7 Ethical Considerations
7.1 In Questionnaire Drafting
The questionnaire has been adopted from a proposal by Siddiqi (2011) based of the SERVQUAL model, also pre-tests were conducted on the University Campus.

7.2 In Questionnaire Administering

Approval was sought from both the university of Zimbabwe and CBZ Bank Officials before the questionnaire was administered to the clients who were given ample time to answer the questionnaires.

7.3 In Data Analysis

A Fact Sheet has been provided of the actual results of the survey to provide readers with an opportunity to draw they own conclusions if they consider the conclusions and inferences made in the paper are biased.

7.4 Reliability and Data Validation

The questionnaire was designed in such a way it can validate data collected. Section A provides two linked measures of weighting while Section B provides at least four questions per attribute (Five SERVQUAL Attributes). The questionnaire and responses will be tested for reliability as well as validity through the use of Cronbach Alpha reliability coefficients.

8 Chapter Summary
The above chapter gave a summary of the research methodology used by the research, who chose a quantitative research approach to be administered through a questionnaire in a survey to be carried out on CBZ bank clients. The sample size of 40 chosen is relatively small however it will suffice for normal distribution tests as the requirement is a minimum of 30. Validity will be tested through the use of Cronbach Alpha reliability coefficients.

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CHAPTER FOUR DATA ANALYSIS AND EMPERICAL FINDINGS

1 Introduction
In this chapter the research will present to the reader the findings that were made from this study. First the research will present the demographic aspects of the results, they the overall result and finally the individual analysis of variables and specific aspects within the results before making a conclusion on the chapter. This chapter will also include an overview of the objectives and the responses to each objective as answered in the study either by literature or by the finding/result of the survey carried out.

2 Demographic Aspects
Below are the demographic aspects of the respondents of this study:

Female 34%

Male 66%

Figure 1: Representation of Respondents by Gender

From the sample, as shown in Figure 1 66% were man and the remainder (34%) were woman. This means the research was able to fill the 30% minimum quota for female participants. And also considering that approx 30% of account holders in CBZ Bank are woman; this is a truly representative sample.

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Figure 2 shown below on the other hand shows the age distribution of the respondents. The distribution has been divided as follows; two comma forty four percent were below 20 years of age, 46.34% which was the highest proportion were between the age of 20 and 29 years, those between the age of 30 to 39 years and 40 to 49 years contributed 21.95% each while those above 50 years of age contributed 7.32%. This also shows the representativeness of the sample as the maturity of the respondents is important especially in banking where those above the age of 30 contribute most to banking business than those below that age, in total, 51.22% of the respondents of the study were above the age of 30.
100% 90% 80% Total Respondents (41) 70% 60% 50% 40% 30% 20% 10% 0% Less Than 20 20 to 29 30 to 39 40 to 49 Over 50 7.32% 2.44% 21.95% 21.95% 46.34% Age Distribution of Responendts

Figure 2: Age Distribution of Respondents

Figure 3 (below) shows the distribution of the level of education among respondents, although the class of education were initially five, however all respondents fell into three class mainly; respondents with only a secondary level education (24.39%), respondents with a University degree (58.54%) and respondents with an above college qualification (17.07%). This is important and significant to the study considering the nature of the questionnaire which needed respondents to have a good appreciation of the English language (Section B) as well as basic arithmetic understanding (Section A). 100% of the respondents had basic education while 75.61% had at least a university degree hence it will be assumed that the questionnaire was well understood and was correctly administered to the appropriate audience.

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100%

90%
80% Total Respondents (41) 70% 60% 50% 40% Level of Education 24.39% 17.07% 58.54%

30%
20% 10% 0.00% 0% No Formal Education Below Secondary 0.00%

Secondary Level

Universty Degree

Above College

Figure 3: Level of Education Distribution For Respondents

100% 90% 80% 70% 60%

50%
40% 30% 20% 10% 0% Less US$500 US$501-US$1000 Over US$1000 29.27% 39.02% 31.71%

Level of Income

Figure 4: Income Distribution of Respondents

Figure 4 shows the income distribution of the respondents, this is an important fact because different income groups access different services from a banking institution. Low income groups access basic account services such as debit cards, payment solutions and microfinance lending while middle income groups access a large variety of services including 14

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

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personal financings, credit cards, internet banking etcetera. High income groups might opt for personal banking, investment banking and other sophisticated services. The distribution in this case is highly effective as it covers each of these sectors and groups. There are 29.27% respondents getting less than US$500.00, 31.71% getting between US$500.00 and US$1000.00 and 39.02% getting over US$1000.00. The increase in respondents as the income goes up is also important considering that richer people tend to be offered more banking services than poorer people hence their opinion should be more than represented in the study.

Private Sector 44%

Indians 2%

Zimbabweans 98% Unemployed 7%

Public Sector 17%

SemiGovernment Self Empoyed 15% 15%

Figure 5: Nationality of Respondents and Sector of Employment

Figure 6 shows the nationality of the respondents as well as the sector in which they are employed. The pie chart shows that 98% of respondents were Zimbabweans where as the rest were Indians (Who worked in the private sector). The other chart also displays that 44% worked in the private sector, 17% in the Public sector, 15% in the semi-government sector, and 15% were self employed while 7% were unemployed. This is a rather representative sample as they were respondents from all the sectors in the economy and also foreign nationalities also participated in the survey though to a lesser extent. The last graph Figure 7 shows the distribution of respondents according to their different occupations. From the graph it can be seen that 2.44% were housewives, 4.88% were 15

An Assessment of Service Delivery and Customer Satisfaction in the Banking Sector

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technicians, 7.32% owned their own business, another 7.32% were students, also another 7.32% were academics and educators, 9.76% worked in marketing and sales, 14.63% were professionals, another 14.63% administrators and executives, yet another 14.63 worked in banking and finance, the last 17.07% were either clerks, or worked with the army or police. This is a uniquely representative sample which included almost every occupation in the country hence will be representatives of the jobs of different people and their opinions.
Occupation of Respondents Housewife Own Business Technician Student Makerting and Sales Acadmics/Educators Clerk/Army/Police Banking and Finance Administrative and Excutives Proffesionals 7.32% 17.07% 14.63% 14.63% 14.63% 4.88% 7.32% 9.76% 2.44% 7.32%

Figure 6: Individual Occupations For Respondents

3 Objectives and Results

3.1 Identify if service delivery is one of the variables that influence Customer Satisfaction
Service Delivery through literature has been identified as one of the main variebles affecting customer satisfaction. The main evidence to this fact is presented through the Five gaps model presented in Siddiqi (2011) which illustrates the Customer expectations managements perceptions gap, the Managements perceptions Service Quality specifications gap, the Service Quality specifications service delivery gap, the Service delivery external communications gap and the Perceived service gap. The two main gaps that interest us and show that service delivery is an important aspect of customer satisfaction are the Service Quality specifications Service delivery gap, the Service delivery External communications gap. Form the questionnaire, the first section 16

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(Section A) asks client to rate what they deem important to them in banking tangibles, reliability, responsiveness, assurance or empathy even though reliability got the most votes, the lowest tangibles got at least 14.59% of votes. Since all were aspects of service delivery, it can be seen that they were all important since effectively all got a fair vote (proportion out of 100). The existence of service delivery is also supported by Cronin and Taylor (1992, 1994), Zeithaml, et al. (1996), Amudha, et al. (2012) and Gan et al. (2011). The relationship is depicted below: Service Quality Model
Word of Mouth Communication s Personal Needs Past Experience

Expected Services

Gap 5

Perceived Service

Service Delivery

External Communications to customers Gap 4

Gap 3 Service Quality Specification

Gap 1

Gap 2

Management Perception of Customer Expectation

Source: Parasuraman et al. (1985) as cited in Siddiqi (2011) Figure 7: Service Quality Model

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3.2 Proving if quality service delivery alone can result in Customer Satisfaction and Loyalty
Mwanyisa (2012) argues that other than service delivery, other variables that affect customer satisfaction are customer relations, product attributes, promotion, and information technology. To a certain extend this is true, however the point that should be drawn form Mwanyisas study is the differences in which service delivery is defined as compared to this study. In this study quality service delivery is defined in such a manner it encompasses all the other variables stated above. For example empathy which is a variable of service delivery in this study can be equated to customer relations (Ferrell and Hartline 2008: 342), assurance and tangibles can be equated to information technology and promotion, while product attributes are represented across the plane since banks are service firms (Lovelock and Wirtz 2004:112). Therefore from the study carried out in both literature and the survey, yes service delivery is the main factor influencing customer satisfaction, however service delivery is can be influenced by a number of factors itself as shown below:

Customer Relation Promotion Information Technology Product Attributes Tangible s Responsiveness Reliability Assurance Empathy
Figure 8: Attributes of Quality Service Delivery leading to customer Satisfaction

Quality Service Delivery

Quality Service Delivery Leading to Customer Satisfaction

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3.3 Determining measurement tools for service delivery in the banking sector
The main measurement tool for service delivery and customer satisfaction in the banking industry found out by the researcher is the SERVQUAL model as by Parasuraman et al. (1985). This model uses 5 attributes, Tangibles, Reliability, responsiveness, Assurance and Empathy as tested through a 22 point data collection unit designed to include weightings and valuation of each attribute by clients. Other methods exist such as the SERVPERF method however the SERVQUAL is deemed more valid and reliable it terms of usability.

3.4 Level of service delivery at CBZ Bank Ltd

Using the questionnaire, the researcher was able to determine the levels of service delivery at CBZ Bank Limited. On average, equated to zero decimal places CBZ Clients who took part in this study Agreed that there was quality service delivery at CBZ bank limited
60% 50% Number Of Respondents 40% 30% Distribution Curve 20% 10% 0% 0 1 2 3 4 5 Strongly Agree (5) Strongly Disagree (0)

Figure 9: Distribution Curve For Service Delivery Responses

Above in Figure 9 is a population distribution curve of the responses derived from the survey and administration of the questionnaire. From the data provided, the mean response was found to be 3.94 (Close to Agree which is represented by 4) were as the standard deviation was 0.4759 meaning the response provide were not highly dispersed but were all peaked around 3.94 (After Application of weights). The Cronbach Alpha reliability coefficients was

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found to be 0.917 hence data collected and analysed will be deemed to be valid and usable to make inference to the population. The second graph, Figure 10 shows the same distribution of responses as divided among the main attributes of the SERVQUAL Model for CBZ bank Limited. Tangibles had a mean of 4.27, Assurance 4.09, Empathy 3.87, Reliability 3.83 and Responsiveness 3.75. Of note is tangibles which score the highest meaning that in terms of service delivery, tangibles were deemed to be highest at CBZ bank, however this was not a big factor in client weighting as tangibles were rated least as shown on Figure 11.

Empathy

3.87

Assurance

4.09

Responsiveness

3.75

Reliability

3.83

Tangibles Strongly Disagree (0)

4.27 Strongly Agree (5)

Figure 10: Total Service Delivery Perception Divided By Attributes of SERVQUAL

The attribute rated with the highest weighting by clients was reliability for which 30% of total weighting marks were allocated (as illustrated Figure 11), on the questionnaire reliability came second to last with a mean score of only 3.83 (as shown in Figure 10), however this was still close to agree than to neutral hence to a certain extend CBZ bank limited has been satisfying its clients. Also of note is Assurance which was ranked second in terms of weighting by clients (21% weighting, Figure 11). The same also achieved a second to highest rank in terms of quality of service delivery at the bank managing to gain a mean score 4.09 (as shown in Figure 9), a few

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basis points above Agree adding to the point already made of CBZ bank offering quality service delivery and satisfying its customers. Responsiveness came last in terms of ranking only gaining an average mean score of 3.75 from the respondents (as shown in Figure 10); however it was not an important attribute considering its weighting was only 15% as shown in Figure 11.

Empathy 20%

Tangibles 14%

Assurance 21%

Reliabilty 30%

Responsiveness 15%

Figure 11: Weighting of Attributes According to Respondents

60.00% 50.00% 40.00% 56.10% 51.20% 51.20% 43.90% 46.30%

30.00%
20.00% 10.00% 0.00% Neutral 17.10% 14.60%

31.70% 29.30% 24.40% 24.40%

9.80%

Agree

Strongly Agree

Modern Looking Equipment Employees Neat

Visually Appealing Facilities Appealing Materials Used

Figure 12: Responses on Questions Related to Tangibles

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An analysis of Figure 12, which shows the distribution of respondents on the variable tangibles shows that none of the respondents disagreed with the fact that CBZ Bank is offering exceptional tangible service delivery in terms of materials, equipments, neat employees and visually appealing facilities. In fact, on average only 16.48% of the respondents stayed neutral on the subject, the rest (83.52%) either Agreed or Strongly Agreed than on all four aspects of tangibles, CBZ bank was doing its best and they were satisfied.
60.00%

50.00%

48.80% 46.30% 41.50%

48.80%

41.50% 34.10%

40.00% 31.70% 30.00% 26.80%

24.40%
20.00% 14.60% 12.20% 10.00% 2.40% 2.40% 0.00% Strongly Disagree Disagree Neutral Agree Strongly Agree CBZ Promises Fulfilment Performs Service Right First time Error Free records Sincere Interest In Solving Problems Provides Services as per Promised Time 7.30% 4.90% 2.40% 2.40% 17.10% 17.10%

2.40%

Figure 73: Responses on Questions Related to Reliability

Also Figure 13, shows the same for the variable Reliability which happens to have had a bigger weighting (30%) in terms of favor by the clients. Figure 13 shows that, 1.44% and 5.84% of respondents strongly disagree and disagree respectively that service delivery is good in terms of reliability at CBZ Bank, 24.38% are neutral while the rest 63.12% (43.92% + 19.2%) either agree or strongly agree. The implications are therefore more than half, of the respondents agree that CBZ bank offers good quality service delivery in their product offerings hence are satisfied. 22

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Figure 14, shown below illustrates the responses according to level of income of the respondents. Those with an income level of less than US$500, who constituted 29.27% of respondents in the study agreed (Mean Score of 4, Figure 14) that they were being offered great service delivery at CBZ bank and consequently were satisfied.

All Respondents

Over US$1000

3.9

US$501 to US$ 1000

3.7

Less than US$500

Strongly Disagree (0)

Strongly Agree (5)

Figure 84: Level of Agreement According to Level of Income

Those earning between US$500 and US$1000, who constituted 31.71% of the respondents in the study also agreed (Mean score of 3.7, Figure 14) that their satisfied with the level of service delivery at the bank. While the highest group constituting 39.02% of respondents average 3.9 score on the likert scale, this goes on to show that across all level of income CBZ is offering exceptional services, however there is need to increase service delivery to middle income earners as they response show they have a few grievances..

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All Respondents

Above College

3.9

University Degree

3.8

Secondary Level

3.9

Strongly Disagree (0)

Strongly Agree(5)

Figure 95: Level of Agreement According to Level of Education

Figure 15 shown above depicts the response as divided by level of education for the topic on service delivery at CBZ Bank Limited, respondents with an above college education and those with a secondary level education gave the bank a score of 3.9 out of 5 while those with a university degree allocated 3.8, this tallies with the last graph in the sense that it is likely that those with an above college degree are earning high than US$1000, while those with only secondary education might be earning belowUS$500, under these circumstances therefore the conclusion drawn should be the same.

4 Chapter Summary
In conclusion to this chapter, it has been illustrated that on average using a five likert scale, clients of CBZ Bank based on weights applied to reliability, empathy, responsiveness, assurance and tangibles attributes will allocate 3.94 as their level of agreement to the service delivery levels at the bank. The mean score of 3.94 equates to an agreement that yes, there is quality service delivery at CBZ bank, yet there is still room for improvement. This response has been felt across the board in all the different respondents however, middle income earners, university graduates and those aged between 20 and 29 feel like there is more that their bank can do for them in terms of quality service delivery.

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CHAPTER FIVE CONCLUSIONS

1 Introduction
The purpose of this chapter is to give the conclusions and recommendations of this study. Firstly, the researcher will conclude the study in terms of giving a summary of the answers to each research question and stating whether the research objectives have been meet, secondly the research will give an overview of whether the research proposition has been validated. Lastly the researcher will give recommendations to CBZ Bank and Other bank Institutions in terms of what to do to satisfy customers through quality service delivery.

2 Conclusions:
2.1 Objective 1: To identify if service delivery is one of the variables that influence Customer Satisfaction.
From the findings of this study and literature review, quality service delivery has been found to be influential factors in the determination of customer satisfaction. The five gaps model presented early in the study clearly show two gaps to customer satisfaction which were determined by service delivery hence iterating the fact that yes service delivery is one of the factors influencing service delivery.

2.2 Objective 2: To prove if quality service delivery alone can result in customer satisfaction and Loyalty.
Service delivery per se cannot be the only influencing factor to customer satisfaction however it has been found out that there are various attributes of the service delivery process such as assurance, reliability, empathy, responsiveness and tangibles which leads to the conclusion that service delivery is a broader subject and hence it can be considered as one of the most important if not key factors influencing customer satisfaction in the banking industry.

2.3 Objective 3: To determine measurement tools for service delivery in the banking sector.
In assessing the different methods of measuring service delivery and customer satisfaction in the banking industry available in literature, the researcher is able to conclude that the most prominent, valid and reliable method to use is the SERVQUAL method as developed by however other studies have also used the SERVPERF method though it has been deemed inferior to the former. 25

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2.4 Objective 4: To measure the level of service delivery at CBZ Bank Ltd.
Survive delivery levels have been measure at CBZ Bank Limited using a 22 point questionnaire developed using the SERVQUAL method. In conclusion, after measuring and analysing the data for reliability and validity it has been found out that on average CBZ bank clients Agree that the bank is offering quality service delivery mechanisms. This is supported by the fact that the average mean score for each question asking on different variables of service delivery at the bank the answer was 3.94 out of 5 where 1 represented Strongly Disagreeing and 5 Represented Strongly Agreeing.

3 Validation of Research Proposition

The Proposition of his study was: Quality service delivery, which is offered at CBZ Bank Limited is the major reason why CBZ Bank Limited clients are satisfied and loyal to the bank hence its massive deposit base As from the results of this study, it has been proven that there is indeed quality service delivery as CBZ Bank, and through literature is has been found out that it (quality service delivery) is an important determinate of customer satisfaction and loyalty hence it can be concluded that quality service delivery at CBZ bank can lead to client satisfaction. Therefore the proposition that, Quality service delivery, which is offered at CBZ Bank Limited is the major reason why CBZ Bank Limited clients are satisfied and loyal to the bank hence its massive deposit base, has been accepted.

4 Recommendations
The following recommendations are therefore given to CBZ Bank Limited By the Researcher: Training employees of issues to deal with the three variables (Empathy, Reliability, and Assurance), Employee couching on responsiveness as it seems to be the main variable lacking according to clients at CBZ Bank, Identifying other service and customer satisfaction gaps through studies so as to reduce customer dissatisfaction, Evaluating services offered to customers periodically through researchers, interviews with clients or suggestion boxes 26

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References
Amudha, R., Surulivel, S.T., Vijaya Banu, C., 2010. A Study on Customer Satisfaction towards Quality of Service of an Indian Private Sector Bank using Factor Analysis. European Journal of Social Sciences, 29(1), pp. 12-25. Anderson, E.W., Fornell, C., & Lehmann, D.R., 1994. Customer satisfaction, market share and profitability: Findings from Sweden. Journal of Marketing, Vol.58, pp.53-66. Babbie, E., 2004. The Practice of Social Research. 10th Edition. USA: Thomson Press. Barbara, Lewis R., 1993. Service Quality: Recent Developments in Financial Services. International Journal of Bank Marketing, 11(6), pp.19-25. Bloemer, J., Ruvler, K., & Peeters, P., 1998. Investigating drivers of bank loyalty: the complex relationship between image, service quality and satisfaction. International Journal of Bank Marketing, 16(7), pp.276-286. Buttle, F., 1996. SERVQUAL: review, critique, research agenda. European Journal of Marketing, 30(1), pp. 8-32. CBZ Holdings and CBZ Bank Websites: www.cbz.co.zw As accessed on 10 November 2012. Cohen, D., Gan, C., Yong, H.H.A. & Choong, E., 2006. Customer satisfaction: a study of bank customer retention in New Zealand. Commerce Division, Discussion Paper No. 109. Canterbury: Lincoln University. Collis, J. & Hussey, R. 2003. Business Research: A Practical Guide for Undergraduate and Postgraduate Students.2nd Edition. New York: Palgrave Macmillan. Creswell, J., 2009. Educational research : Planning , conducting , and evaluating quantitative and qualitative research. 3ed ed. s.l.:s.n. Cronin, J.J., & Taylor, S.A., (1992). Measuring service quality: a re-examination and extension. Journal of Marketing, 56(3), pp. 55-68. Dall'Olmo Riley, F., Ehrenberg, A., Castleberry, S., Barwise, T. And Barnard N., 1997. The Variability of Attitudinal Repeat-Rates. International Journal of Research in Marketing, 14(5), pp.437-50.

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Danenberg, N., & Byron, S., 1996. Measuring Loyalty in Subscription Markets Using Probabilistic Estimates of Switching Behaviour: In Australia New Zealand Marketing Educators Conference, Andrea M. Martin and Richard G. Starr, Jr (Eds.) Vol. 1. Auckland, NZ: Department of Marketing, University of Auckland. Gan, C., Cohen, D., Clemes, M. and Chong, E. 2006. A survey of customer retention in the New Zealand banking industry. Banks and Bank Systems, Volume 1, Issue4. Industrial Psychology Consultants Pvt Ltd (2012), Zimbabwe Banking Sector Customer Engagement Report, July 2012, Accessed from www.ipcconsultants.com on 10/11/2012 Lovelock, C. & Wright, L. 2002. Principles of Service Marketing and Management.2nd Edition. New Jersey: Pearson Education. Mihelis, et al., 2001. Customer satisfaction measurement in the private bank sector. European Journal of Operational Research, Vol:130 pp.347-360. Mwanyisa (2012) The Relevance Of Relationship Marketing On The Sustainability Of Zimbabwean Banks, Dissertation, Nelson Mandela Metropolitan University, SA. Parasuraman, A., Berry, L. L. & Zeithaml, V. A., 1991. Understanding Customer Expectations of Service. Sloan Management Review, 32(3), pp.39-48. Parasuraman, A., Zeithaml, V. A. & Berry L. L., 1990. Delivering quality service: balancing customer perceptions and expectations, The Free Press: New York. Parasuraman, A., Zeithaml, V.A., & Berry, L.L., 1985. A conceptual model of service quality and implications for future research. Journal of Marketing, 49 (4), pp.41-50. Parasurman, A., Zeithaml, V. & Berry, L., 1988. SERVQUAL: A Multiple-Item Scale for Measuring Consumer Perceptions of Service Quality. Journal of Retailing, 64 (1), p.12-40. Rogelio, O.P, 1996. A dynamic theory of service delivery: Implications for managing service quality, Massachusetts Institute of Technology, United States Massachusetts. Siddiqi, K.O., 2011. Interrelations between Service Quality Attributes, Customer Satisfaction and Customer Loyalty in the Retail Banking Sector in Bangladesh. International Journal of Business and Management, 6(3), March 2011. Zeithaml, V.A., Berry, L.L. and Parasuraman, A., 1996. The behavioural consequences of service quality. Journal of Marketing, Vol. 60, pp. 31-46. 28

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Appendix

Questionnaire on Service Delivery and Customer Satisfaction at CBZ Bank Ltd (source Siddiqi, 2011)
The researcher is currently undertaking a study on service delivery and customer satisfaction at CBZ Bank Ltd. The Researcher therefore requests your assistance in providing information in relation to your perception of the subject with regards to CBZ Bank Ltd. All the information you provide will be used only for academic purposes and treated in confidence.

SECTION A
Directions: Listed below are five features pertaining to Banks and the services they offer. We would like to know how important each of these features is to you when you evaluate a banks quality of service. Please allocate a total of 100 points among the five features according to how important each feature is to you the more important a feature is to you, the more points you should allocate to it. Please ensure that the points you allocate to the five features add up to 100.
1. 2. 3. 4. 5.
The appearance of the Banks physical facilities, equipment, personnel, and communication materials The Banks ability to perform the promised service dependably and accurately The Banks willingness to help customers and provide prompt services The knowledge and courtesy of the bank s employees and their ability to convey trust and confidence The caring, individualised attention the Bank provides its Customers

points points points points points 100 points

Total points allocated

Which one feature among the above five is most important to you? (PLEASE ENTER THE FEATURES NUMBER) Which feature is second most important to you? Which feature is least important to you?

SECTION B
Directions: The following set of statements relate to your feelings about CBZ Bank Ltd. For each statement, please show the extent to which you believe CBZ Bank Ltd has the feature described by the statement. Circling a 1 means that you strongly disagree that CBZ Bank Ltd has that feature, and circling a 5 means that you strongly agree. You may circle any of the numbers in the middle that show how strong your feelings are. There are no right or wrong answers all we are interested in is a number that best shows your perceptions about CBZ Bank Ltd.

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1. 2. 3. 4.

5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22.

CBZ Bank Ltd Has modern looking equipment CBZ Bank Ltds physical facilities are visually appealing CBZ Bank Ltds employees are neat-appearing Materials associated with the service (such as pamphlets, signage or statements) are visually appealing at CBZ Bank Ltd When CBZ Bank Ltd Promises to do something by a certain time it does so When you have a problem, CBZ Bank Ltd shows Sincere Interest in solving it CBZ Bank Ltd Performs the service right the first Time CBZ Bank Limited provides its services at the time it promises to do so CBZ Bank Ltd Insists on error free records Employees of CBZ Bank Ltd tell you exactly when services will be performed Employees in CBZ Bank Ltd give you prompt service Employees in CBZ Bank Ltd are always willing to help you Employees in CBZ bank Ltd are never too busy to respond to your requests The behaviour of employees in CBZ bank Limited installs Confidence in you You feel safe in your transactions with CBZ Bank Ltd Employees in CBZ bank Ltd are completely courteous with you Employees in CBZ bank Ltd have the knowledge to answer your questions CBZ Bank Ltd gives you individual attention CBZ Bank Limited has operating hours convenient to all its customers CBZ Bank has employees who give you personal attention CBZ Bank Ltd has your best interest at heart Employees of CBZ Bank Ltd understand your specific needs

Strongly Disagree 1 2 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3

4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4

Strongly Agree 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5

SECTION C
Customer Profile 30

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We need information about you to enable us to make meaningful interpretation of the data obtained. Please circle your responses to the following questions. 1. Gender a) Male b) Female

2. Your age category: a) Less than 20 years b) 20-29 c) 30-39 d) 40-49 e) 50 or more

3. Which of the following describes your current qualification? a) No formal education b) Below secondary school e) Above College/Bachelor (Master or PhD). f) Others specify_________________________ 4. Your monthly income category: a) Less than USD 500 5. Marital status: a) Married b) Single b) USD501-1000 c) More than USD 1,000 c) Secondary school d) University degree/Bachelor

6. Nationality: a) Zimbabwean b) Others, please specify ___________________________________

7. Which of the following best describe your current occupation: a) Professional (Doctors, lawyers, engineers, journalist etc.). b) Administrative/managerial and executive officers. c) Banking and finance. d) Clerk /Police /Army. e) Academic/ educators. f) Marketing and sales. g) Student. h) Technician. i) Own business. j) Housewife.

k) Other, specify ______________________________________________ 8. In which sector do you work? a) Public sector b) Private sector c) Self employed d) Semi-government agency

e) Other specify __________________________________________

Thank You.

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