RAKBANK’s Winning Streak Continues with 2008 Service Quality Award

- Voted Best Bank in Customer Service in Annual Bank Benchmarking Survey

- Bank implements new initiatives to distinguish customer service from market

RAKBANK, one of the UAE’s leading retail banks, has announced that it has been voted best bank in customer service for the third year running in an independent study of the UAE retail banking industry. The 4^th Annual Bank Benchmarking Survey, conducted by Ethos Consultancy, has rated the bank’s customer service as topmost among the industry and leading “by a substantial margin”. 

The award comes at a time when the bank has completed the implementation of several new initiatives, with the objective of distinguishing its service levels from the rest of the banking industry.

The annual benchmarking report states that “RAKBANK are clearly heading the pack in this regard, and their consistency over the past four years is a strong and resilient show of commitment towards their customers.”

The study has established itself as one of the most comprehensive with respect to the UAE Retail Banking Sector. It is carried out by researchers who focus on real scenarios with prospective customers approaching retail banks via three channels: branch, call center and website. The study conducted 1,500 visits to the 29 banks covered and data collected measured 80 different criteria. More than 40,000 responses were analysed. 

“RAKBANK’s service has been rated among the highest in the UAE for a number of years, and as a result, is hopefully raising the bar for customer service among banks,” said Graham Honeybill, General Manager of RAKBANK. “We are relentless when it comes to improving on our service and customer relationship management, and are continuously looking at ways to show that we want to go the extra mile.” 

In a bid to consistently improve on the service level offered, the bank has completed a number of projects including a revamping of call centre systems, the introduction of more intensive staff training programs and an increase of 50% in the service team. It has also introduced a system of pro-active calls to customers for input and suggestions, and has managed to reduce service turnaround times across many products. The current year also saw the bank’s launch of Internet banking and debit cards. Moreover, at the branch level, banking services are being offered six days a week across all branches, many of which have also been refurbished to accommodate more services, and three new branches have been opened in areas of high demand in the UAE.  

“We spend a great deal of time and effort into continually fine-tuning our systems and processes to ensure the best level of service and convenience possible,” adds Honeybill. “A customer that is happy with our service will continue to bank with us and will recommend us to others - it is the best marketing channel for the bank and a very reliable way to generate new business.”