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Abstract:
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Monitoring and evaluation (M&E) plays a vital role in customer satisfaction in the banking industry. This is because M&E guides banks come up with clear objectives and indicators to manage and track the degree of customer satisfaction. Therefore, this study analyzed how Commercial Bank of Africa could utilize M&E in their customer satisfaction management. Its objectives were to analyze the structures and measures that had been put in place by CBA for the purpose of customer satisfaction, examine the utility value of M&E in customer satisfaction at CBA, explore the challenges faced by CBA in its customer satisfaction management and recommend interventions for utilization of M&E for any gaps identified in this study. The study targeted the management team, staff and customers of CBA Kenya. Questionnaires were used in data collection and the Statistical Package for Social Sciences (SPSS) version 20 was used in data analysis. Findings showed that description of the indicators/variables of customer satisfaction, specification of information requirements, identification of sources of information, determination of the findings and reporting of findings were among the measures in place for the purpose of customer satisfaction. Some of the challenges faced in customer satisfaction management included employees working long hours which led to fatigue, uncooperative colleagues, policy and procedure limitations, customer management and pricing issues against industry, tailor making customer financial solutions which were very diverse and forex point being a problem to many customers. This study concluded that there were measures in place at CBA for the purpose of customer satisfaction management but were not fully implemented. The study recommended that in order to improve customer satisfaction, the bank should ensure that all the measures necessary for customer satisfaction management are put place, fully implemented and that organizations should put in place more practical measures and structures for customer satisfaction management in order to realize improved customer satisfaction.
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