THE SIGNIFICANCE OF CUSTOMER SERVICE IN ESTABLISHING TRUST AND ENHANCING THE REPUTATION OF THE BANKING INDUSTRY IN BANGLADESH

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This qualitative research study examines the significance of customer service in establishing trust and enhancing the reputation of the banking industry in Bangladesh. The research aims to gain insights into the current state of customer service, its impact on customer trust and the reputation of banks, the challenges faced in providing good customer service, and the strategies that can be adopted to improve customer service practices. Data collection involved in-depth interviews with both customers and employees of a prominent banking institution in Bangladesh. The evaluation of the current state of customer service revealed a mixed picture, with customers generally reporting satisfaction but also identifying areas for improvement such as delays and inadequate facilities. The research findings confirmed the vital role of customer service in building and maintaining trust. Positive customer service experiences were found to enhance customer trust, while negative experiences had a detrimental impact and could lead to customer attrition. The reputation of banks was closely tied to the quality of customer service, as positive experiences resulted in favorable recommendations while negative experiences harmed the bank’s image. Challenges faced by banks in providing good customer service included limited resources, technological integration, communication channels, cultural barriers, and effective complaint management. To address these challenges, strategies such as enhanced staff training, leveraging technology, implementing feedback mechanisms, streamlining complaint handling, fostering a culture of personalized service, and monitoring service quality were recommended. The findings of this research provide valuable insights and recommendations for banks in Bangladesh to improve their customer service practices, enhance customer satisfaction, and ultimately strengthen their reputation in the competitive banking industry. By prioritizing customer service and implementing the recommended strategies, banks can build trust, retain customers, and establish a positive reputation, leading to sustained success in the dynamic banking landscape of Bangladesh.