This is indicated by the following percentages:- ¢ Nearest Bank to Residence 34 % ? ¢ Nearest Bank to Office 21 % ¢ ? Reputation of Bank 15 % ¢ ? Overall Bank Image 12 % ? ¢ Recommendation of a friend 6 %. ¢ ? Reputation of Bank Staff 8 % ¢ There was no alternative 4 % ? ¢ Any Other Reason (Please elaborate) Negligible Response. The response to the frequency of use of banking services has been combined for both the Banks and is tabulated as follows:- Frequency Personal Customer Corporate Customer Daily 8 % 61 %.
2-3 Times a Weeks 34 % 12 % Weekly 41 % 20 % Monthly 17 % 7 % It would be seen that most of the personal customers are weekly or bi weekly customers whereas the corporate customers are mostly daily visitors to the banks. This should enable us to cater for a greater expectancy of corporate customers in the bank, though cumulatively in numbers, it would be expected that more number of personal customers will be visiting it. Preferred mode of Utilization Mode Bank of China HSBC Personal Corporate Personal Corporate Internet 21 % 35 % 56 % 61 %.
Physical 72 % 60 % 30 % 30 % Mobile Phone Banking 7 % 5 % 14 % 9 % It would be observed that there is greater use of the internet and mobile banking by customers of the HSBC as opposed to those of Bank of China. On the other hand it is seen that more number of corporate customers in both cases were using internet banking as opposed to personal clients, who relatively preferred physical banking. Mobile banking as a concept has taken roots, but it is being used primarily by personal consumers with HSBC once again providing higher figures than Bank of China.
In the second part of the response to questionnaire, the experiences of the customers to physical and internet banking as well as banking with respective institutions has been covered separately for each bank. The analysis of the findings have been carried out in the next chapter. Experiences of physical banking The overall experience of physical banking has been tabulated in percentage for both the banks jointly for personal as well as the corporate customer. Bank of China HSBC The services were customer friendly 55 % 58 %.
The services were timely 42 % 67 % The services were efficient 41 % 68 % There was adequate follow up of the services given 31 % 54 % The services are better than Internet 76 % 43 % There was a greater feeling of security than on the internet 78 % 55 % The services were more economical than on the internet 39 % 12 % My experience encourages me to continue with physical banking services 55 % 61 % Experiences of internet banking The overall experiences of internet banking are tabulated as given below:-.
Bank of China HSBC The services were customer friendly 32 % 66 % The services were timely 47 % 85 % The services were efficient 41 % 76 % There was adequate follow up of the services given 32 % 59 % The services are better than physical banking experience 67 % 89 b% There was a greater feeling of security than physical banking 41 % 76 % The services were more economical than physical banking 91 % 92 % My experience encourages me to continue with internet banking services 81 % 93 %.
Overall Banking Experience with Bank of China or HSBC, London The percentage responses for overall banking experience have been summarized as per Table below. BANK OF CHINA HSBC The bank is very customer friendly 54 % 67 % The services are very efficient 56 % 68 % The bank provides customized service to the customer 32 % 71 % The services are secure and ethical 67 % 81 % I will continue banking with the bank in the future 63 % 76 % Chapter 5 Analysis of Research