Kuala Lumpur, Tuesday, 5 September 2017 – The Association of Banks in Malaysia (ABM) is pleased to announce the roll out of the revised Customer Service Charter (Charter) for the commercial banking industry.
The standardised template for the Charter was first introduced in 2011 and was aimed at underscoring the commercial banks’ commitment to deliver a consistent high standard of customer service. At that time, banks were allowed to set their own internal standards and turnaround times for basic banking services. The banks have now taken it a step further by establishing certain minimum industry standards with regard to the turnaround time for specified banking services. The service standards have been designed from the customer’s perspective in the true spirit of being customer centric. New ways of banking (e.g. digital channels) have also been taken into account in drawing up this revised Charter.
Developed through a joint collaboration between ABM and its member banks, which comprise the 27 conventional commercial banks currently operating in Malaysia, the revised Charter has been successfully rolled out by all its member banks effective 30 August 2017. The Charter sets out the Four Pillars with emphasis on the core values of:
- 1. Know your customer – building trust, through understanding the customer’s profile to anticipate the customer’s needs and preferences.
- 2. Timely and efficient service – being reliable by delivering seamless basic/general banking services within the stipulated timeframes.
- 3. Transparent and personable service – better engagement through open and transparent dealings as well as competent and knowledgeable staff.
- 4. Banking made accessible – providing convenience of banking for customer’s peace of mind.
With the introduction of minimum industry standards, it is hoped that customers will have an even more positive banking experience. The requirement for banks to be transparent about the timeframes for specified services will enable consumers to compare the services offered by each bank more easily.
The Charter solidifies the commercial banking industry’s strong commitment towards improving customer service. It should be noted that there may be minor variations in the Charter of each bank to reflect the different product offerings of the banks as well as internal standards which may be higher than the minimum industry standards.
In addition to the respective bank’s website and banking halls / branches, a copy of the revised Charter can also be obtained at ABM’s website, www.abm.org.my