Impact of Customer service on the growth of of the Banking Sector in Uganda: A case of Diamond Trust Bank (U) Ltd
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This study was an investigation into customer service on growth of the banking sector in Uganda using Diamond Trust Bank as a case study. Its objectives were: to determine the effect of turn around-time on the growth of Diamond Trust Bank, to find out the effect of product notification on the growth of Diamond Trust Bank and to investigate the effect of feedback on the growth of Diamond Trust Bank. The study used a cross-sectional survey design employing both qualitative and quantitative research approaches. Data was collected using questionnaires and interview guides from 83 respondents for questionnaires and 14 interviews. The study revealed that there is a positive correlation between turn-around-time and the growth of DTB at 0.025 with a significance level of 0.825 at the level of 0.01. Furthermore, it was revealed that there was a positive correlation between product notification and growth of DTB at 0.068 at a significance of 0.539 at a level of 0.01. However, the study discovered that there was a general challenge of client management by the DTB staff. This has impacted DTB from accessing information from the clients. In addition, client information was not utilized in making the bank’s strategies. The study concluded that turn-around-time has an effect on the growth of DTB as it failed to incorporate clients’ inputs in designing its strategies. In addition, the study also concluded that product notification impacts on the growth of DTB because the process of product notification is one of the procedures of doing the banking business. Finally, the study concluded that the management of DTB isn’t aware of the performance related information and this creates a gap in feedback which affects the growth of Diamond Trust Bank. The study recommended the need to empower DTB staff in client management so that more can be achieved through better communication with them. It was also recommended that the DTB client information in regard to the bank’s services be captured, analyzed and be put to use in order to realize growth.