A study on CMS in Personal Loan

7/29/2019 A study on CMS in Personal Loan

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CHAPTER 1

INTRODUCTION

1.1 INTRODUCTION OF THE STUDY

Customer Experience Management (CEM) allows an organization to understand

what customers know about the organization. With a clear understanding of what

customers know about an organization and how they form those opinions, management

can immediately act on and leverage opportunities. Executives, managers, and

supervisors can quickly shift resources and business strategy. And, customer facing

employees can directly and easily influence customer behavior. CEM is the missing link

to improving profitability - it is a profit-based approach to managing customer

interactions, operations, and customer relationships.

This document defines CEM and its elements. It explains customer experience

states and why they are important. Lastly, it discusses how CEM works in an

organization and the tangible benefits that are realized in contact center operations,

marketing, sales, and other customer-facing organizations. With every customer

interaction, regardless of the channel or the nature of the interaction, the customer learns

something about the company. Collecting, reporting, and incorporating customer

experiences across all channels of interaction in a manner that business opportunities can

be identified and acted upon is what CEM is all about. Tapping into what a customer

thinks, feels, wants, and experiences is a valuable and powerful key to improving

profitability in any organization. There are four key elements that CEM must include in

order for information to be valid and actionable

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1. Customer experience information must be customer-driven, collected

immediately, and in context of the customer experience using the same channel as

the interaction. There is no value in collecting customer experience information

after a brief period of time or outside of the context of the original interaction.

2. Customer experience information must be collected across all customer

interaction types: telephone, Web, email, chat, - and even person-to-person

interactions if,

3. Customer experience information must be reported and accessible not only

collectively, but also at its most granular level. Otherwise, information is not

actionable at the customer experience driver levels. Detailed reports regarding

specific products, transaction types, and processes need to be processed and

presented accurately. Detail regarding how individuals, teams, and organizations

are affecting customers or customer types must also be accurate and available

including the ability to review specific, important transactions.

4. Reports, analytics, and required actions to leverage opportunities and influence

profitability must incorporate existing company information and objectives

and be available across the organization immediately. There is nothing more

accurate, or as effective, as collecting information directly from the customer

immediately and in context of their interactions.

The combination of CEM with company information and objectives not only

delivers faster and more accurate predictive analysis, business intelligence, and

opportunity data; it also fosters customer loyalty and satisfaction. It creates a charged

customer-centric culture that considers internal measures, profiles, and objectives relative

to actual customer experiences a powerful combination.

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INTRODUCTION TO THE PROJECT

Customer Experience States

Customer Experiences can be categorized into three unique states. The state of the

customer experience has implications on the type of information to communicate with

and collect from customers.

The three states of Customer Experience are: Normal Experience, Critical

Experience, and Unique Experience positive profitability consistency support and touch

points channels.

Normal Experience interactions reinforce existing perceptions and promote

customer loyalty and retention, particularly in the early stages of the relationship. The

keys to an effective Normal Experience strategy are education, competence and

consistency.

Education influences expectations, helping customers develop a realistic range of

tolerance early in the relationship. While educational efforts influence the expectations of

new customers, competence and consistency validate those expectations. Critical

Experience interactions are service encounters that lead to memorable customer

experiences. Unique Experience interactions are intended to increase customer

profitability by leveraging change opportunity through up-selling and cross-selling.

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CEM captures customer experience information across all customer touch points

and feeds it back to the organization so that action can be taken to improve profitability.

At the beginning or end (or both) of an interaction, and within context, the customer isinvited (automatically or manually) to provide their perspective short questions. Done

properly, this process will result in better than 80% customer participation and have a

measurably positive effect on customers the experience information is collected within

context of the interaction. The questions that are delivered to the customer are specific to

that interaction type; the people, products, and processes that were a part of the

interaction; and the customer. The questions are also conditional in nature and facilitate

both quantitative as well as qualitative experience information.

CEM accesses existing CRM data, productivity metrics, and incorporates key

information related to customer behavior and profitability. Information such as complaint

and resolution rates, customer segments, etc. are all combined with customer experience

information and analyzed/reported in real-time. The strength of a CEM system is in its

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ability to continually align company performance with customer needs and behaviors,

enabling companies to make effective, correct, and critical day-to-day adjustments in

resource allocation and execution as well as enterprise-wide shifts in strategy.

Personal loan help us to take care of our immediate requirements without much of

a hassle. The most attractive features of the personal loan to that we do not have to give

any kind of security to avail this loan.

No security/collected

No Guarantors

The maximum amount of Ph which we are eligible depends on net delay fake

home. Loans tenue various from 1 to 5 years. Since personal loans do not require any

security the interest rate charged are high.

1.2 INTRODUCTION TO THE INDUSTRY

Consumer finance refers to the activities involved in granting credit to consumers

to enable them posses own goods meant for everyday use. It is known by several names

such as credit merchandising, deferred payments, installment buying, and hire purchase

pay-out-of income scheme, pay-as-you earn scheme, easy payment, credit buying

installment credit plan, etc.

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Types of Consumer Finance

There are several types of credit facility available to consumers. They are briefly

discussed below:

Revolving credit

An on- going credit arrangement similar to a bank overdraft, whereby the

financier, on a revolving basis, grants credit is called revolving credit. The consumer is

entitled to avail credit to the extent sanctioned as the credit limit. An ideal example of

revolving credit is credit cards.

Fixed Credit

It is like a term loan whereby the financier provides loan for a fixed period of

time. The credit has to be squared off within a stipulated period. Examples of fixed credit

include monthly installment loan, hire purchase, etc.

Cash Loan

Under this type of credit, banks and financial institutions provide money with

which the consumers buy articles for personal consumption. Here, the lender and the

seller are different. The lender does not have the responsibilities of a seller.

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Secured Finance

When the credit granted by a financial institution is secured by collateral, it takes

the form of secured finance. The collateral is taken by the creditor in order to satisfy the

debt in the event of default by the borrower. The collateral may be in the form of personal

property, real property or liquid assets.

Unsecured Finance

When there is no security offered by the consumer against which money is

granted by financial institutions it takes the form of unsecured finance.

SOURCES OF CONSUMER FINANCE

The various sources of consumer finance available to people are discusse below

Traders

The predominant agencies that are involved in the provision of consumer finance

are traders. They include sales finance companies, hire purchase and non-banking

financial institutions (NFC).

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Commercial Banks

Commercial banks have taken keen interest in providing, directly or indirectly the

finance for consumer durables. Banks lend large sums of money at wholesale rates to

commercial or sales finance companies. Hire purchase concerns and other such financial

intermediaries. Recently, banks have also started directly financing consumers through

personal loans, which are meant for purchasing consumer durable goods. Personal loans

are granted without a security.

Credit card institutions

Credit card intuitions arrange for credit purchase of consumer articles through the

respective banks which issue the credit cards. The credit card system enables a person to

buy goods and services on credit.

Non-banking finance companies

Non-banking finance companies constitute another important source of consumer

finance. Consumer finance companies, also known as small loan companies, personal

finance companies or licensed lenders, are non-savings institutions whose prime assets

constitute sale-finance receivables, personal cash loans to consumers, short and

intermediate term business receivables, etc. These finance companies charge substantially

higher rates of interest than the market rates.

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Credit unions

A credit union is an association of people who agree to save their money together

and in turn provide loans to each other at relatively lower rates of interest. These are

called co-operative credit societies in India.

Consumer Finance Practice in India

A popular form of consumer financing in India is installment credit. There are

various forms of consumer credit granted by finance companies and dealers. In the case

of over-the-counter, one-to-one or walk-in financing, credit is granted directly to

individuals or institutional funding agencies such as co-operatives. Dealers and finance

companies are directly involved in this type of financing. When a large number of

consumers are financed, institutional funding is involved. In this case, the financier

disburses the finance in tranches through the employer or the co-operative societies. The

loan installment is deducted from the salary of the employers.

Products covered

Consumer financing in India covers a wide range of products such as cars, TVs,

washing machines, refrigerators, geysers, air-conditioners, computers, etc. The products

which are covered posses some direct features as the specified identity, durability

substantiality, responsibility, safety, serviceability and reparability of the products. An

important feature of consumer credit in India is the system of sales tax levied on the sales

of products by hire purchase or installments.

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TERMS OF FINANCE

The terms and conditions for consumer financing are as follows:

1. Eligibility

2. Guarantee

3. Tenure

4. Rate of interest

5. Other charges

6. Mode of payment

7. Credit evaluation

1.3 INTRODUCTION TO THE COMPANY

1.3.1 CitiFinancial in India

Citigroup opened its first office in India in 1992. Since then they become one of

India's most diverse and recognized financial service providers operating in 25 offices

and branches across 18 cities. Citigroup India has 5,000 employees nationwide. Its

operations encompass a premier global corporate and investment bank and a well-

established consumer business under the Citibankand CitiFinancial brands. The global

corporate and investment banking group provides a comprehensive range of financial

services including treasury management, transaction services, securities custodianship,

foreign exchange, fixed income and equities sales and trading, and corporate finance to

corporate clients, governments and financial institutions. Citibank India is the country's

leading retail bank with a history of innovation and customer service. Today they are the

largest issuer of credit cards and offer mortgages, personal loans, insurance, and

investment services for on-shore customers. Citibank India also provides banking

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services to the international Indian community in 23 cities around the world. Citigroup is

one of the Fortune 500 companies in India and it is the second largest foreign bank in

India.

City group is one of fortune 500 companies in India and it is the second largest

foreign bank in INDIA. CitiFinancial, a member of Citigroup, is the world's largest

financial services provider. They have more than 300 branches across India to meet

public face to face. They listen to peoples needs and help them find the right solution.

With their vast network in India, they are ready to help them find an appropriate financial

solution. They believe in building lasting relationships with their customers. Their staffs

in the branches are from the neighbourhood enabling them to be more empathetic to their

customers.

Founded in 1912, CitiFinancial has learnt that there is no one-size-fits-all

approach to helping people manage their money and their debt. CitiFinancial loans offer

consumers a chance to improve their quality of life, while also improving their credit.

Once a solid credit history is established, the door to opportunity opens much wider.

CitiFinancials more than 13,000 employees play an active role in the

communities where they live and work. Volunteerism and financial support to

community-based non-profits through Citigroup Foundation grants are part of the

CitiFinancial way of life. Financial education is a natural extension of what CitiFinancial

and its parent company, Citigroup, do every day. They support financial education

because they believe access to investment products and capital can raise the quality of life

for individuals and families and strengthen communities around the world. But capital

must be used responsibly and wisely, and good financial information can help people

make the most of their money.

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Each year, CitiFinancial educates thousands of consumers about the types of

finance available to them, both through one-on-one discussions in their branches and

through work with consumer advocacy organizations. In addition, when making loans or

offering optional insurance or other products, they make sure those consumers understand

their loan agreements by clearly and prominently displaying the terms of the products in

CitiFinancial loan documents, literature, through signage in the branch, and in verbal

statements.

1.3.2 Product Profile

The Product Spectrum of CitiFinancial Consumer Finance India Limited is as

follows,

Personal Loans,

Home Loans, and

Sales Finance

Personal Loans

Features of CitiFinancial Personal Loan:

Loans for salaried and self-employed individuals

Easy documentation

No Security needed

No guarantors

Quick processing

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Cash up to Rs. 2 Lakh and repayment through Easy Monthly Instalments

1.4 REVIEW OF LITERATURE

Consumer Loan Interest Rates

By, Charles Kahn, George Pennacchi and Ben Sopranzetti, March 2001

The recent wave of bank mergers has raised concern with its effect on

competition. This paper examines the influence of concentration and merger activity onconsumer loan interest rates. It uses Bank Rate Monitor, Inc. survey data on loan rates

quoted weekly by large commercial banks in ten major U.S. cities during the 1989 to

1997 period. The pricing behavior of banks is analyzed for two types of loans: new

automobile loans and unsecured personal loans.

Credit Adjudication and Lending Management System for Finance Companies

By, White Clarke North America

CALMS is a Web-enabled suite of components and products that support and

enhance the originations, decisions and document management process of finance

companies. It automates front office lending and leasing processes for more accurate,

reliable and manageable origination operations, and makes it easier to decide how and to

whom you extend credit.

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Putting the Customer Back in Customer Service: Three Principles for Customer-

centric Support

By, InQuira, Inc.

Despite decades of investment, companies and customers are out of alignment in

terms of what constitutes effective service. Adopting the principles of customer-

centricity, presented in this paper, in your customer service and knowledge management

practices will lead to an alignment of customers' expectations with corporate objectives.

Control the Customer Experience - Improve Marketing, Sales, and Service

Processes with TechExcel CRM

By, TechExcel, Inc.

In today's extremely competitive Internet economy it is more important than ever

for companies to fully embrace new technology to optimize their business processes.

Find out how TechExcel's CRM incorporates The Active Customer model for the three

core business groups - employees, customers, and partners.

Back to the Basics for the Next Innovation in Customer Service

By, InQuira, Inc.

Most executives claim that CRM is critical to their businesses, but in the next

breath admit they find it difficult to quantify its value. Read why, when combined with a

real-time understanding of a customer's current problem, the contextual information that

CRM systems collect can be essential in delivering the most effective service experience.

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Putting the Customer Back in Customer Service: Three Principles for Customer-

centric Support

By, InQuira, Inc.

Despite decades of investment, companies and customers are out of alignment in

terms of what constitutes effective service. Adopting the principles of customer-

centricity, presented in this paper, in your customer service and knowledge management

practices will lead to an alignment of customers' expectations with corporate objectives.

Customer Service Tool Kit: Developing Your Cross-Channel, Cross-Lifecycle

Customer Service & Self-Service and Support Search Initiatives By Patricia Seybold

Group

By, Knova

This in-depth tool kit can help you effectively evaluate and facilitate cross-

channel, cross-lifecycle customer service solutions and self-service and support search

initiatives. The resources offered include templates to assist you in building RFP's and

matrixes to help you facilitate your solution evaluation process.

Customer Experience Happens in the Contact Center

By, Cincom Systems, Inc.

In the contact center, the front line of so many businesses, revenue is made and

lost every day not on price or performance, but by the quality of the customer experience.

Learn how to optimize every customer experience and build loyalty, with insights from

Shaun Smith.

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CHAPTER 2

OBJECTIVES, SCOPE AND LIMITATION

OF THE STUDY

2.1 OBJECTIVES OF THE STUDY

Primary Objective

To study the customer experience management in personal loan product in

CitiFinancial India.

Secondary objective

1) To study the market expectations on the personal loan product from citifinancial.

2) To study the customers awareness on the personal loan product from

CitiFinancial.

3) To study the customer experiences from the initial loan processing till the full

settlement with the company.

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2.2 SCOPE OF THE STUDY

CEM enables organizations to automatically understand what customers know

about them. It is customer-driven and increases profitability by positively engaging

customers to detail what they think, feel, and experience according to their specific

interactions. It captures the voice of the customer within the context of their experience

and personal circumstance resulting in better than 80% customer participation

rate! CEM collects information directly from customers across all customer touch points

telephone, Web, email, and chat. Information is in context of customer interactions and

specific to their experience. CEM rapidly increases profitability and operational

efficiency by giving executives, managers, and marketing professionals criticalinformation required to improve profitability automatically. CEM reports customer

experience information at its most granular level by agent, process, product(s), or

customer(s). It gives management (organizations) the ability to influence customer

behavior by accurately understanding the drivers of customer experience (what, who,

where, and how) and act upon them immediately. CEM encompasses the ability to

combine CRM deliverables (customer profiles and segmentation) with actual customer

experiences and transactional/productivity information. It delivers unprecedented

opportunity, analytics, and decision metrics and quickly provides what CRM originally

promised a measurable return.

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2.3 LIMITATIONS OF THE STUDY

1) The survey was conducted in the erode city. so, the information is consistent to

the specific location only.

2) The survey was conducted for 2 months period. So the customer information and

experiences may be defined only for the limited group of people.

3) The research methods used was simple percentage and chi-square.

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CHAPTER 3

RESEARCH METHODOLOGY

3.1 RESEARCH DESIGN

Research Methodology is a systematic way of solving the problem. The

methodology followed for this study is as follows. The research design is the basic

framework or a plan for a study that guides the collection of data and analysis of data. In

this market survey the design used Descriptive Research. It includes surveys and fact-

finding enquiries of different kinds. The major purpose of descriptive research is

description of state of affairs, as it exists at present.

3.2 DATA COLLECTION METHOD

Data are collected from primary and secondary data. The data collected can be

categorized into two types.

a) Primary data b) Secondary data

The Primary data are those which are collected afresh for the first time, and thus

happens to be original in character.

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Among the various methods, which can be used to collect the primary data, the

researcher has adopted two methods which are Personal Interview method and Structural

Questionnaire method. The researcher has prepared structured questionnaires, which

contained predominantly multiple choice questions. The respondents opinions are

gathered with regard to the problem with the help of the questionnaires.

The Secondary data are those which have already been collected by someone

else and which have already passed through the statistical process. The secondary data is

collected from the of Guindy Thiru.Vi.Ka Industrial Estate Directory, Company Website,

Internet etc.

3.3 SAMPLING

A sample is a smaller representation of a larger whole. When some of the

elements are selected with the intention of finding out something about the population

from which they are taken, that group of elements is referred as a sample, and the process

of selection is called Sampling.

3.3.1 Sampling Unit

The respondents of the study are part of population of customers of Citifinancial.

Each customers is considered to be the sampling unit.

3.3.2 Sample Size

The size of the sample is 150, out of the total population 1500.

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3.3.3 Sampling Method

Judgmental sampling method is used in this study.

3.4 STATISTICAL TOOLS USED FOR THE STUDY

The collected data were analyzed with the help of simple percentage analysis and

chi-square test

3.4.1 Percentage Analysis

Percentage refers to a special kind of ratio in making comparison between two or

more data and to describe relationships. Percentage can also be used to compare the

relation terms the distribution of two or more sources of data.

Number of Respondents

Percentage of Respondents = --------------------------------- X 100

Total Respondents

3.4.2 Chi-Square Analysis

Chi-square is a non-parametric test of statistical significance for bi-variate tabular

analysis. A non-parametric test, like chi square, is a rough estimate of confidence.

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Chi-square is used most frequently to test the statistical significance of results

reported in bivariate tables and interpreting bivariate tables is integral to interpreting the

results of a chi-square test.

Chi Square Test Method

The Chi square method is the application of testing the significant difference

between observed and expected values.

Null Hypothesis (H0)

The hypothesis, or assumption, about a population parameter we wish to test,

usually an assumption of the status quo.

Alternative Hypothesis (H1)

The conclusion we accept when the data fail to support the null hypothesis.

Statistical Test:

Chisquare test (2) = E

EO 2)(

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Degrees of freedom = (R-1) (C-1)

whereas, O = Observed frequency

E = Expected frequency

R = Number of rows

C = Number of columns

To find E :

Row Total Column TotalExpected Frequency = -----------------------------------

Grand Total

Level of Significance ():

A value indicating the percentage of sample values that is outside certain limits,

assuming the null hypothesis is correct, that is, the probability of rejecting the null

hypothesis when it is true.

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CHAPTER 4

DATA ANALYSIS AND INTERPRETATION

4.1 PERCENTAGE ANALYSIS

TABLE NO. 1

OCCUPATION OF THE RESPONDENTS

S.No. OccupationNo. of

RespondentPercentage

1. Business 38 25.3

2. Professional 62 41.3

3. Employee 50 33.3

Total 150 100.0

INFERENCE

It is identified from the above table that 25.3% of the respondents are working in

business, 41.3% of the respondents are working as professional and 33.3% of the

respondents are working as employee.

It is concluded from the above table that maximum (41.3%) of the respondents are

working as professional.

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TABLE NO. 2

PERSONAL LOAN

S.No. OpinionNo. of


1. Yes 69 46.0

2. No 81 54.0

Total 150 100.0

INFERENCE

It is identified from the above table that 46.0% of the respondents are having

personal loan and 54.0% of the respondents are not having the personal loan.


not having the personal loan.

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TABLE NO. 3

KNOWING ABOUT THE PERSONAL LOAN

S.No. OpinionNo. of


1. Executives 24 16.0

2. Tele Calling 42 28.0

3. Ads & Pamphlets 32 21.3

4. References 47 31.3

5. Others 5 3.3

Total 150 100.0

INFERENCE

It is evident from the above table that 16.0% of the customers are known about

the personal loan from executives, 28.0% of the customers are known about the personal

loan from tele calling, 21.3% of the customers are known about the personal loan from

Ads and pamphlets, 31.3% of the customers are known about the personal loan from

references and 3.3% of the customers are known about the personal loan from others.

It is concluded from the above table that maximum (31.3%) of the customers are

known about the personal loan from references.

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TABLE NO. 4

INFORMATION OF THE PERSONAL LOAN

S.No. OpinionNo. of


1. Yes 72 48.0

2. No 78 52.0

Total 150 100.0

INFERENCE

It is cleared from the above table that 48.0% of the respondents are waiting for the

information of the personal loan and 52.0% of the respondents are not waiting for the

information of the personal loan.


not waiting for the information of the personal loan.

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TABLE NO. 5

SATISFACTION OF PERSONAL LOAN AMOUNT

S.No. FactorsNo. of


1. Poor 16 10.7

2. Fair 51 34.0

3. Good 65 43.3

4. Very Good 15 10.0

5. Excellent 3 2.0

Total 150 100.0

INFERENCE

It is noted from the above table that 10.7% of the respondents are poorly satisfied

of personal loan amount, 34.0% of the respondents are fairly satisfied of personal loan

amount, 43.3% of the respondents are good in satisfaction of personal loan amount,

10.0% of the respondents are very good in satisfaction of personal loan amount and 2.0%

of the respondents are excellent in satisfaction of personal loan amount.


good in satisfaction of personal loan amount.

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TABLE NO. 6

PREFERENCE OF THE PERSONAL LOAN

S.No. OpinionNo. of


1. First 58 38.7

2. Second 55 36.7

3. Third 29 19.3

4. Any other 8 5.3

Total 150 100.0

INFERENCE

It is stated from the above table that 38.7% of the respondents are preferred first

personal loan, 36.7% of the respondents are preferred second personal loan, 19.3% of the

respondents are preferred third personal loan and 5.3% of the respondents are preferred

any other personal loan.


preferred first personal loan.

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TABLE NO. 7

PURCHASE ANOTHER PRODUCT

S.No. OpinionNo. of


1. Yes 51 34.0

2. No 50 33.3

3. Maybe 49 32.7

Total 150 100.0

INFERENCE

It is evident from the above table that 34.0% of the customers are purchased

another product, 33.3% of the customers are not purchased another product and 32.7% of

the customers maybe purchased another product.


purchased another product.

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TABLE NO. 8

USING OF ANY COUPONS OR RECEIVE A DISCOUNT

S.No. OpinionNo. of


1. Yes 74 49.3

2. No 76 50.7

Total 150 100.0

INFERENCE

It is stated from the above analysis that 49.3% of the customers are using coupons

or received a discount and 50.7% of the customers are not using coupons or received a

discount.


not using coupons or received a discount.

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TABLE NO. 9

RATE THE OVERALL VALUE OF PERSONAL LOAN

S.No. OpinionNo. of


1. 1- very low value 39 26.0

2. 2- low value 19 12.7

3. 3- medium low value 45 30.0

4. 4- high value 33 22.0

5. 5- very high value 14 9.3

Total 150 100.0

INFERENCE

It is obvious from the above table that 26.0% of the customers are rating 1-very

low value of personal loan, 12.7% of the customers are rating 2- low value of personal

loan, 30.0% of the customers are rating 3- medium value of personal loan, 22.0% of thecustomers are rating 4-very high value of personal loan and 9.3% of the customers are

rating 5-very high value of personal loan.


rating 3-medium value of personal loan.

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TABLE NO. 10

SATISFACTION OF PERSONAL LOAN PROVISION

S.No. OpinionNo. of


1. Very satisfied 34 22.7

2. Somewhat satisfied 50 33.3

3. Neutral 39 26.0

4. Somewhat dissatisfied 22 14.7

5. Very dissatisfied 5 3.3

Total 150 100.0

INFERENCE

It is cleared from the above table that 22.7% of the customers are very satisfied

with the personal loan provision, 33.3% of the customers are somewhat satisfied with the

personal loan provision, 26.0% of the customers are neutrally satisfied with the personal

loan provision, 14.7% of the customers are somewhat dissatisfied with the personal loan

provision and 3.3% of the customers are very dissatisfied with the personal loan

provision.


somewhat satisfied with the personal loan provision.

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TABLE NO. 11

CITI FINANCIAL PERSONAL LOAN COMPARED WITH OTHER LOAN

PRODUCT

S.No. OpinionNo. of


1. Is better 40 26.7

2. About the same 68 45.3

3. Is worst 31 20.7

4. Not sure 11 7.3

Total 150 100.0

INFERENCE

It is inferred from the above table that 26.7% of the customers are compared citi

financial personal loan with other loan product is better, 45.3% of the customers are

compared citi financial personal loan with other loan product about the same, 20.7% of

the customers are compared citi financial personal loan with other loan product is worst

and 7.3% of the customers are compared citi financial personal loan with other loan

product is not sure.


compared citi financial personal loan with other loan product about the same.

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TABLE NO. 12

SERVICE OF THE PERSONAL LOAN

S.No. OpinionNo. of


1. Excellent 23 15.3

2. Very good 26 17.3

3. Good 45 30.0

4. Fair 37 24.7

5. Poor 19 12.7

Total 150 100.0

INFERENCE

It is noted from the above table that 15.3% of the customers are rating the service

of personal loan is excellent, 17.3% of the customers are rating the service of personal

loan is very good, 30.0% of the customers are rating the service of personal loan is good,

24.7% of the customers are rating the service of personal loan is fair and 12.7% of the

customers are rating the service of personal loan is poor.


rating the service of personal loan is good.

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TABLE NO. 13

RECOMMENDATION OF PERSONAL LOAN

S.No. Opinion No. ofRespondent

Percentage

1. Definitely 39 26.0

2. Probably 39 26.0

3. Not sure 32 21.3

4. Probably not 30 20.0

5. Definitely not 10 6.7

Total 150 100.0

INFERENCE

It is revealed from the above table that 26.0% of the customers are definitely and

probably recommended the personal loan to a friend or associate, 21.3% of the customers

are not sure recommended the personal loan to a friend or associate, 20.0% of the

customers are probably not recommended the personal loan to a friend or associate and

6.7% of the customers are definitely not recommended the personal loan to a friend or

associate.


definitely and probably recommended the personal loan to a friend or associate.

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TABLE NO. 14

QUALITY OF SERVICE

S.No. Opinion

No. of

Respondent Percentage1. Excellent 28 18.6

2. Satisfactory 54 36

3. Dissatisfactory 24 16

4. poor 12 8

5. Good 32 21.4

Total 150 100.0

INFERENCE

It is obtained from the above table that 18.7% of the customers are evaluating a

quality of service is excellent in customer service experience, 36.0% of the customers are

evaluating a quality of service is satisfactory in customer service experience, 37.3% of

the customers are evaluating a quality of service is dissatisfactory in customer service

experience and 8.0% of the customers are evaluating a quality of service is very poor in

customer service experience.


evaluating a quality of service is satisfactory in customer service experience.

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TABLE NO. 15

PROCESS OF THE LOAN

S.No. OpinionNo. of


1. Fastest 25 16.7

2. Fast 50 33.3

3. Average 39 26.0

4. Slow 30 20.0

5. Slowest 6 4.0

Total 150 100.0

INFERENCE

It is obvious from the above table that 16.7% of the customers are thinking the

process of loan is the fastest, 33.3% of the customers are thinking the process of loan is

fast, 26.0% of the customers are thinking the process of loan is average, 20.0% of the

customers are thinking the process of loan is slow and 4.0% of the customers are thinking

the process of loan is the slowest.


thinking the process of loan is fast.

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TABLE NO. 16

PROCESS OF SOLVING PROBLEM


Percentage

1. Very poor 11 7.3

2. Somewhat unsatisfactory 30 20.0

3. About average 50 33.3

4. Very satisfactory 34 22.7


Total 150 100.0

INFERENCE

It is evident from the above table that 7.3% of the customers are thinking about

the process of solving problem is very poor, 20.0% of the customers are thinking about

the process of solving problem is somewhat unsatisfactory, 33.3% of the customers are

thinking about the process of solving problem is about average, 22.7% of the customers

are thinking about the process of solving problem is very satisfactory and 16.7% of the

customers are thinking about the process of solving problem is excellent.


thinking about the process of solving problem is about average.

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TABLE NO. 17

BEST DESCRIPTION

S.No. Opinion

No. of

Respondent Percentage1. Gave clear answers 50 33.3

2. Gave me the wrong information 13 8.7

3. They didnt understand the question 37 24.7

4. Gave unclear answers 24 16.0

5. Couldnt solve problem 16 10.7

6. Other 10 6.7

Total 150 100.0

INFERENCE

It is evident from the above table that 33.3% of the customers are described citi

financial personal loan are giving clear answers, 8.7% of the customers are described citi

financial personal loan are giving the wrong information, 24.7% of the customers are

described citi financial personal loan are not understand the question, 16.0% of the

customers are described citi financial personal loan are giving unclear answers, 10.7% of

the customers are described citi financial personal loan are not solving the problem and

6.7% of the customers are described citi financial personal loan are having other

problems.


described citi financial personal loan are giving clear answers.

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TABLE NO. 18

SATISFIED WITH THE AMOUNT OF CONTACT BETWEEN

ORGANIZATION AND CITI FINANCIAL INDIA

S.No. OpinionNo. of


1. Very satisfied 24 16

2. Satisfied 40.5 30

3. Neutral 40 26.6

4. Dissatisfied 29 19.4

5. Very dissatisfied 7.5 8

Total 150 100.0

INFERENCE

It is noted from the above table that 16.0% of the customers are very satisfied

with the amount of contact between organisation and Citifinancial India, 30.0% of the

customers are satisfied and 26.6% of the customers are neutrally satisfied with the

amount of contact between organisation and Citifinancial India, 19.4% of the customers

are dissatisfied with the amount of contact between organisation and Citifinancial India,

8.0% of the customers are dissatisfied with the amount of contact between organization

and Citifinancial India.


satisfied with the amount of contact between organisation and Citifinancial India.

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TABLE NO. 19

QUALITY OF SALES DEPARTMENT SERVICE


Percentage



3. Good 38 25.3

4. Fair 40 26.7

5. Poor 19 12.7

Total 150 100.0

INFERENCE

It is obvious from the above table that 14.0% of the customers are knowing about

the quality of sales department service is excellent, 21.3% of the customers are knowing

about the quality of sales department service is very good, 25.3% of the customers are

knowing about the quality of sales department service is good, 26.7% of the customers

are knowing about the quality of sales department service is fair and 12.7% of the

customers are knowing about the quality of sales department service is poor.


knowing about the quality of sales department service is fair.

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TABLE NO. 20

VALUE OF CITIFINANCIAL SERVICES COMPARED WITH OTHER

COMPANIES

S.No. Opinion

No. of

Respondent Percentage1. Excellent 18 12.0


3. Good 41 27.3

4. Fair 46 30.7

5. Poor 10 6.7

Total 150 100.0

INFERENCE

It is obvious from the above table that 12.0% of the customers are compared the

value of citi financial service with other companies is excellent, 23.3% of the customers

are compared the value of citi financial service with other companies is very good, 27.3%

of the customers are compared the value of citi financial service with other companies is

good, 30.7% of the customers are compared the value of citi financial service with other

companies is fair and 6.7% of the customers are compared the value of citi financialservice with other companies is poor.


compared the value of citi financial service with other companies is fair.

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TABLE NO. 21

EXPERIENCE WITH THE PERSONAL LOAN PROVISION

S.No. OpinionNo. of


1. Satisfactory 90 60.02. Dissatisfied 60 40.0

3. Excellent 0 0

Total 150 100.0

INFERENCE

It is observed from the above table that 60.0% of the customers are satisfied with

the experience of the personal loan provision process and 40.0% of the customers are not

satisfied with the experience of the personal loan provision process.



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4.2 CHI - SQUARE ANALYSIS

TABLE NO. 22

OCCUPATION AND LEVEL OF SATISFACTION TOWARDS PERSONAL

LOAN PROVIDED BY THE CITI FINANCIAL

(TWO-WAY TABLE)

S.

No.Occupation

Level of SatisfactionTotal

Highly

SatisfiedSatisfied Neutral Dissatisfied

Highly

Dissatisfied

1 Business 8 18 11 1 0 38

2 Professional 10 22 14 14 2 62

3 Employee 16 10 14 7 3 50

Total 34 50 39 22 5 150

Null Hypothesis (H0) - There is no significant relationship between

occupation and level of satisfaction towards

personal loan provided by the Citi financial.

Alternative Hypothesis (H1) - There is close relationship between


personal loan provided by the Citi financial.

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CHI-SQUARE (2) CALCULATION:

Calculated 2 value = 17.366

Degree of freedom = 8

Table value = 15.507

Significant result = Significant at 5% level

INFERENCE

From the above analysis, we find that the calculated value of2 is greater than the

table value and hence, the null hypothesis rejected. So, there is a close significant

relationship between occupation and level of satisfaction towards personal loan provided

by the Citi financial.

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TABLE NO. 23

OCCUPATION AND LEVEL OF SATISFACTION TOWARDS CUSTOMER

SERVICE EXPERIENCE

(TWO-WAY TABLE)

S.

No.Occupation

Level of SatisfactionTotal

ExcellentVery

Satisfactory

Somewhat

unsatisfactory

Very

poor

1 Business 17 8 11 2 38

2 Professional 12 18 27 5 62

3 Employee 6 21 18 5 50

Total 35 47 56 12 150

Null Hypothesis (H0) - There is no significant relationship betweenoccupation and level of satisfaction towards





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CHI-SQUARE (2) CALCULATION:





INFERENCE



relationship between occupation and level of satisfaction towards customer service

experience.

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TABLE NO. 24

OCCUPATION AND LEVEL OF SATISFACTION TOWARDS QUALITY OF

SALES DEPARTMENT SERVICE

(TWO-WAY TABLE)

S.

No.Occupation Level of Satisfaction Total

Excellent Very good Good Fair Poor

1 Business 11 4 10 11 2 38

2 Professional 6 15 15 20 6 62

3 Employee 10 7 13 9 11 50

Total 27 26 38 40 19 150



quality of sales department service.



quality of sales department service.

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CHI-SQUARE (2) CALCULATION :





INFERENCE



relationship between occupation and level of satisfaction towards quality of sales

department service.

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TABLE NO. 25

OCCUPATION AND OPINION ABOUT THE CITI FINANCIAL SERVICES

COMPARED WITH OTHER COMPANY

(TWO-WAY TABLE)

S.

No.Occupation Opinion Total

Excellent Very good Good Fair Poor

1 Business 12 6 10 10 0 38

2 Professional 3 15 19 22 3 62

3 Employee 6 11 12 14 7 50

Total 21 32 41 46 10 150


occupation and opinion about the Citi

financial services compared with other

company.


occupation and opinion about the Citi

financial services compared with other

company.

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CHI-SQUARE (2) CALCULATION :





INFERENCE


table value and hence, the null hypothesis rejected. Hence, there is a close significant

relationship between occupation and opinion about the Citi financial services compared

with other company.

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TABLE NO. 26

OCCUPATION AND OPINION ABOUT THE PROCESS

FOR GETTING PROBLEM RESOLVED

(TWO-WAY TABLE)

S.

No.Occupation

OpinionTotal

Very

Poor

Somewhat

unsatisfactory

AverageVery

satisfactory

Excellent

1 Business2

(5.3)

6

(15.8)

17

(44.7)

9

(23.7)

4

(10.5)38

2 Professional5

(8.1)

14

(22.6)

18

(29.0)

10

(16.1)

15

(24.2)62

3 Employee4

(8.0)

10

(20.0)

15

(30.0)

15

(30.0)

6

(12.0)50

Total 11 30 50 34 25 150

It is inferred from the above table that

maximum (44.7%) of the business people are satisfied with average level for

solving their problem

maximum (29.0%) of the professional are satisfied with average level for solving

their problem and

maximum (30.0%) of the employee are very satisfied for solving their problem.

From the above table it is concluded that maximum of the business people are

satisfied with average level for solving their problem.

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CHAPTER 5

SUMMARY OF FINDINGS, SUGGESTIONS

AND CONCLUSION

5.1 FINDINGS

It is found from the analysis that maximum (41.3%) of the respondents are

working as professional.

It is stated from the analysis that maximum (54.0%) of the respondents are not

having the personal loan.

It is noted from the analysis that maximum (31.3%) of the customers are known

about the personal loan from references.

It is cleared from the analysis that maximum (52.0%) of the respondents are notwaiting for the information of the personal loan.

It is observed from the analysis that maximum (43.3%) of the respondents are

good in satisfaction of personal loan amount.

It is obvious from the analysis that maximum (38.7%) of the respondents are

preferred first personal loan.

It is revealed from the analysis that maximum (34.0%) of the customers are

purchased another product.

It is evident from the analysis that maximum (50.7%) of the customers are not

using coupons or received a discount.

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It is inferred from the analysis that maximum (30.0%) of the customers are rating

3-medium value of personal loan.

It is identified from the analysis that maximum (33.3%) of the customers are

somewhat satisfied with the personal loan provision.

It is followed from the analysis that maximum (45.3%) of the customers are

compared Citi financial personal loan with other loan product about the same.

It is known from the analysis that maximum (30.0%) of the customers are rating

the service of personal loan is good.

It is stated from the analysis that maximum (26.0%) of the customers are

definitely and probably recommended the personal loan to a friend or associate.

It is noted from the analysis that maximum (37.3%) of the customers are

evaluating a quality of service is satisfactory in customer service experience.

It is cleared from the analysis that maximum (33.3%) of the customers are

thinking the process of loan is fast.

It is found from the analysis that maximum (33.3%) of the customers are thinking

about the process of solving problem is about average.

It is cleared from the analysis that maximum (33.3%) of the customers are

described Citi financial personal loan are giving clear answers.

It is identified from the analysis that maximum (26.7%) of the customers are

satisfied with the amount of contact between organisation and Citi financial India.

It is revealed from the analysis that maximum (26.7%) of the customers are

knowing about the quality of sales department service is fair.

It is evident from the analysis that maximum (30.7%) of the customers are

compared the value of Citi financial service with other companies is fair.

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It is inferred from the analysis that maximum (60.0%) of the customers are


From the analysis it is found that maximum of the business people are satisfied

with average level for solving their problem.

It is known from the analysis that there is a close significant relationship between

occupation and level of satisfaction towards personal loan provided by the citi financial.

It is found from the analysis that there is a close significant relationship between

occupation and level of satisfaction towards customer service experience.

It is evident from the analysis that there is a close significant relationship between

occupation and level of satisfaction towards quality of sales department service.

It is found from the analysis that there is a close significant relationship between

occupation and opinion about the Citi financial services compared with other company.

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5.2 SUGGESTIONS

The company can provide morecompany discounts gifts to the customers to make the personal loan to be

attractive as it is preferred by the customers.

Many customers have known the

loan products through references. So, if the ad media is enhanced. It would

increase the product as well as brand awareness.

The company has to improve its

customers service which include way of approaching customers, resolving the

queries and maintaining turn around time.

The company can concentrate on

e-media (electronic Media) to visualize and to increase the customers.

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5.3 CONCLUSION

Companies have always tried to influence and manage their customers'

experiences through marketing, sales, and service and support activities. They have

always tried to deliver a consistent set of cues, messages and human interactions that,

taken together, create "the customer experience." CEM however, is very new. A perfect

complement to CRM initiatives, CEM allows companies to understand what a customer

thinks, feels, wants, and experiences with regard to their people, products, and processes.

It does so at a granular level enabling the organization to take immediate action to exploit

opportunities, reduce costs, and improve revenues, while directly improving overall

customer satisfaction and loyalty.

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1-24,26,28,30,32,34,36,38,40,42,44,46,48,50,52,54,56,58,60,62,64,66-79

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A study on CMS in Personal Loan

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