Germanos Group of Companies

GERMANOS GROUP OF COMPANIES

ACKNOWLEDGEMENT

For this project, all members of the team would like to express our gratitude to Mr. Levetas for helping and guiding us throughout the semester. Also any clarifications needed were given generously by our instructor.

Moreover, we would like to sincerely thank Mrs. Kekridou Lydia, Head of Treasury of ASPIS Bank, as well as Mr. Livanios Aristotelis Assistant Manager and Director of Phone & Direct Banking for sharing information expertise and material of how ASPIS Bank operates.

TABLE OF CONTENTS PAGES

ACKNOWLEDGEMENT 2

TABLE OF CONTENTS 3

INTRODUCTION 4-6

ASPIS AND TELEPHONE CONTACT 7

MANAGERS, EMPLOYEES, AND ASPIS PHONE BANKING 8-11

VOICE OF THE CUSTOMER AND CUSTOMER BENEFIT PACKAGE 12

CLIENTS WITH DOMINANCE CHARACTERISTICS 13

CLIENTS WITH INFLUENCE CHARACTERISTICS 14

CLIENTS WITH STABILITY CHARACTERISTICS 15

CLIENTS WITH CAUTION CHARACTERISTICS 16

TELEPHONE SALES 17

PREPARATION 17

OPENING 18

INFORMATION-PRESENTATION 18

HANDLING OF OBJECTIONS 19-20

CLOSING 20

COMPLAINT MANAGEMENT SYSTEM 21-22

POSITIVE COMMUNICATION 23

ACTIVE LISTENING 24

MEASUREMENT SYSTEMS FOR CUSTOMER SATISFACTION 25-27

CONCLUSION 28

REFERENCES 29

INTRODUCTION

For every organization, customers are the most important asset that makes the company exist and be what it is. Customer satisfaction, for this matter, is the primary goal that every manufacturing or service company should set for itself in order to achieve its desired results. Creating satisfied customers however is a very difficult task that requires comprehensive research and profound knowledge of customer desires and needs. These needs and their successful fulfillment are a driving force for every company so as to gain a competitive advantage and increase its market share.

In the sphere of banking and financial resource management, customer satisfaction is crucial to survival in business. Every wrong decision, or a mistake caused by negligence may lead to severe consequences that cannot be resolved. For this reason, every company in this scope tries to make it as clear as possible to its customers- both internal and external that significant attention and high problem-solving skills are necessary to deal with matters in the banking sector. However it’s much easier to control and educate the company’s own employees than try and influence consumers. They have their own needs and problems, so the company should do the best it can to help the external customer solve their problems and become satisfied.

The company that we’re analyzing in this paper is a significant participant in the above-mentioned banking sector. ASPIS bank was established in 1995 by AEGON GRIEKENLAND HOLDING B.V. and Mr. P. Psomiades holding 50% of shares respectively. Since then the bank has developed very much and has reached a considerable share of customers. The headquarters of ASPIS Bank is located in Athens and more specifically in 4 Othonos STR, Syntagma. Throughout the years the bank’s network has expanded. At the end of 2004 65 branches existed and their personnel reached 976 executives and employees from a total of 444 that was in 2001. The bank’s only intention is to always meet and exceed consumer requirements, shaping a new modern type of a bank. As mentioned in the corporate website, ASPIS has done that by: Investing in advanced technology and enhanced human resources to reduce operating costs and satisfy customer needs; developing new products to meet market requirements and take advantage of opportunities offered by international capital markets and new technologies; expanding revenue sources by extending operations into sectors where the Bank has maintained a limited presence in the past.

ASPIS bank provides the following services:

пÑ"ј Phone Banking,

пÑ"ј Online Banking,

пÑ"ј Online Trading,

пÑ"ј ATM services,

пÑ"ј Bank Cheques & funds transfers,

пÑ"ј Standing orders,

пÑ"ј Portfolio management advice,

пÑ"ј Currency transactions,

пÑ"ј Safe deposit boxes,

пÑ"ј Vehicle Excise Duty,

пÑ"ј Payments and

пÑ"ј IBAN (The International Bank Account Number- IBAN is provided in order to facilitate automatic processes via cross border transfers.)

Managers and high-level employees at ASPIS have realized that the way of doing successful business is by satisfying customer needs in the best possible way. The bank is doing its best by providing many different services to consumers that help them manage their finances. However, the company has realized that there is a vast gap between their side and the customers. Measures like benchmarking and customer satisfaction surveys have proven their efficiency during the years, but in the dynamic business world of