BUSINESS STANDARDS
is the quarterly magazine of BSI Group, highlighting the vital role that standards play in today's business environment. Regular features include interviews with leading business figures, as well as news on the latest developments in management systems and standards.
RAKBANK achieves customer service first
11 Apr 2008
Topics: Customer service, TICSS, UAE
How do you drive forward the success of your business in the highly competitive markets of the 21st century? One solution is undoubtedly through superlative customer service. This is the route chosen by RAKBANK, which recently marked its further progression in putting customers first with the achievement of a BSI certification to TICSS, the International Customer Service Standard.
RAKBANK is the National bank of Ras Al-Khaimah, the northernmost of the United Arab Emirates. Formed in 1976, the bank has flourished due to its determination to set new standards in the banking industry within the region. As Graham Honeybill, RAKBANK's chief executive officer puts it: "Our success over the years is due to being quick and responsive to identifying and satisfying increasing customer needs. We pride ourselves on consistently delivering the highest levels of customer service quality. We believe that service quality is a primary factor that differentiates us from our competitors, and this is a fundamental element of our corporate culture."
As a result, RAKBANK was the first bank in the UAE to offer free-for-life credit cards, document-free balance transfers, and salary advances, and is now a leading provider of commercial bank mortgage products. Its premium Titanium credit card was voted the best premier card in the Middle East and South East Asia by MasterCard last year.
Achieving excellence
In pursuit of excellent customer service, the bank's policy is to build lifetime customer relationships through meeting and exceeding individual needs with a higher service standard than its competitors. The bank's approach covers business ethics, reliability and accuracy, responsiveness and empathy, transparency and the determination to change a negative issue into a positive customer experience. Every point of contact is seen as an opportunity to strengthen the bank's relationship with customers, and RAKBANK team members are given ongoing training so every employee understands quality in terms of both product (what you get) and service (how you get it).
The results are measured against international benchmarks and standards. As Honeybill puts it: "Providing true service quality means fully understanding quality in a tangible way and measuring both standards and performance in qualitative and quantitative ways."
Seeking certification
Such is the level of RAKBANK's customer service that Ethos Consultancy, an independent customer service group, has rated RAKBANK No. 1 among all the UAE based banks in customer service for the past two years. Recently the bank called in BSI Management Systems to assess its operation for the TICCS certification. TICCS is managed by The International Customer Service Institute, a membership organization which recognizes and shares global best practice in customer service.
In the assessment by BSI, RAKBANK achieved 'Benchmark' rating, with an overall score of between 75 and 90 per cent in five categories: policy, people, processes, products and premises. With the TICCS certification success, RAKBANK becomes the first financial institution in the Arabian Gulf to be awarded this certification from BSI.
The bank was extremely pleased with the results, but is not resting on its laurels. Says Honeybill: "This is a resounding endorsement of the bank's unswerving commitment to customer service across all of its operating segments." Notwithstanding he goes on to say, "Having led the way in achieving this exceptional regional 'first', the bank now intends, this year, to aim for the TICCS 'Excellence' qualification - which is the global pinnacle of customer service recognition."
Indeed it seems the essence of driving forward business success in the 21st century is that you're never done. As RAKBANK's corporate website puts it: "We aim to delight our customers not just the first time, but every single time. The challenge of going the extra mile to achieve customer satisfaction is a key performance measure deeply ingrained in our corporate culture and a fundamental part of our future success."
For more information on certification in the Middle East: www.bsigroup.ae
Image from Wikimedia Commons. Released under the GNU Free Documentation License.
Business Standards © 2008. Editorial produced by Caspian Publishing in association with the British Standards Institution. Editorial opinions expressed on are not necessarily those of BSI Group or Caspian Publishing. Neither Caspian Publishing nor BSI Group accept responsibility for advertising or editorial content, nor for that appearing on linked third-party websites. Reproduction in whole or in part is forbidden without written permission from BSI Group or Caspian Publishing.
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