Customer satisfaction for Credit Management at Standard Chartered Bank.

Abstract

Standard Charted is one of the oldest bank of the country with a wide spread service facilities all over the country. At present it holds the top most position among the multinational banks in the country. Besides consumer banking, Standard Chartered has emerged as sound corporate bank though it’s various product and services. The consumer bank provides credit cards, personal loans, mortgages, deposit taking activity and wealth management services to individuals and medium sized business to individuals and medium sized business. The wholesales bank provides service to multinational, regional and domestic corporate and institutional trade finance cash management, lending, foreign exchange, interest rate management and debt capital market. The collection process of credit cards starts when the cardholder has failed to meet one or more contractual payment (i.e. minimum 5% payment) or exceeds the allocated limit or both. It therefore becomes the duty of the collection department to minimize the outstanding delinquent receivable and credit losses. The collection staffs systematically recovers the card holder’s dues and identify/prevent potential losses, while maintaining a high standard of service and retaining good relations with the customers. It is therefore essential and critical, that collectors are familiar with the computerized system, procedures and maintain effective liaison with other department within bank.