After receiving complaints regarding sale of inapt products, OCBC Bank changed the way their staff sales handle their customers. Such changes are sending their sales and marketing staff to up to date trainings and rewriting sales documents in simpler language. Head of secured lending at OCBC, Gregory Chan, said that this will be disseminated in stages for diverse kinds of bank products.
Changes will also be evident soon in sales staff pay. As of the moment, it is still being finalised. Drifts or complaints have had a strong effect at the staff’s pay. Grievances can cause the pay to be deferred or forfeited.
After having its staff responsible for selling mortgage in training and certification examinations, the bank’s efficient mortgage sales system has been launched sometime end of February. Those who have failed the test are assigned to work elsewhere in the bank.
According to Mr. Chan, the bank, now, has mortgage specialists, who are responsible to help out a customer in home loan products. They are assigned to explain to the customers a thorough breakdown of their financing requests. Customer feedback regarding sales process has improved.
At the same time, DBS Group has also established changes in the way they sell their products early this year. Rajan Raju, the consumer banking head, said that customer responses have given them confidence.
United Overseas Bank’s head of sales, Kevin Lam, said that the training they have provided for their bank’s sales staff and relationship managers highlighted on their capability to converse with customers in giving them better service than before.