Wednesday, December 10, 2014

The whistle that blows customers away

One unusual website feature caught my eye recently as I was researching Tanzanian brands that have an active social media presence. National Microfinance Bank’s website (www.nmbtz.com), has a “whistle blowing” section that allows both its employees and customers to anonymously report fraudulent activities in the bank. 
That got me thinking about Kenyan banks which lost $907,797 (approximately Ksh82 million) in the second quarter of 2014 due to fraud, according to the East African newspaper. To retain their customers’ confidence and loyalty, banks usually deal with the suspects “internally.” However, if Kenyan banks enabled customers to report fraudulent behaviour anonymously, they might only reduce the losses and inconveniences they experience, they’d signal to their customers that they care about their employees’ integrity. Perhaps they could offer customers rewards for information that uncovers fraud, like National Microfinance Bank does. Unless they want to continue proving Tanzanians right with their theory that Kenya is a “man-eat-man” society.

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