Automation and artificial intelligence-based complaint management system is the only way to address complaints in the country's banking industry, which has become too big to maintain humanly, distinguished bankers viewed.
Though it might be possible to handle most of the complaints through automated system, it would be difficult to address all the complaints due to variations and complexities of the dispute and grievances of the banking sector.
Consequently, they suggested there might be a combined solution with AI and human hands to manage the complaints.
They were speaking at a seminar on "Automation to Handle Customer Complaints in Banks: Current Status, Clients' Satisfaction and Challenges" organised by Bangladesh Institute of Bank Management (BIBM) at its auditorium on Tuesday.
A survey report on the topic was presented by the BIBM Associate Professor Md Mahbubur Rahman Alam and his team.
The survey studied 38 banks, 171 branch level customer service complaints management desks and 435 customers to understand the country's complaints management system in the banking sector.
According to the survey results, over the span of six fiscal years from 2017-18 to 2022-23, the call centres of banks have demonstrated a substantial increase in both the total number of calls and recorded complaints.
Commencing at 14.20 million calls in 2017-18, the centres witnessed a notable growth trajectory reaching 26.19million calls in 2022-23, reflecting a compound annual growth rate (CAGR) of 13.01 per cent, the survey found.
Correspondingly, the number of complaints also rose, from 4,73,360 in 2017-18 to 6,44,550 in 2022-23.
However, according to the survey, there is a constant upward trend of lodging complaints in the banks directly, growing 28.83 per cent annually since 2017-18.
There were 14,286 complaints recorded in 2017-18 financial year in the surveyed banks while the number reached 50,703 in 2022-23.
However, the resolve rate of complaints is impressively high at 98.90per cent in the latest financial year.
The survey results found that though banks receive diverse range of complaints, most of the complaints are related to ATM related (55.43per cent), apps (16.33 per cent) and general banking (10.85 per cent).
Data shows that 73 per cent banks have dedicated call centres.
According to the survey, around 20per cent of banks have implemented automation tools or software to assist in handling customer complaints.
The paper proposed asset of recommendations including collaborative partnerships with fintech entities and stakeholders may optimise operational efficiency for complaints management.
Banks may pave the way for further advancements in automation technology, particularly delving into the integration of artificial intelligence (AI) for heightened complaint categorisation and prioritisation based on nuanced assessments of their nature and urgency, it recommended.
The recommendations also said banks may place paramount emphasis on the cultivation of user-friendly interfaces within complaint handling systems.
"Banks may harness the power of automated analytics tools for real-time insights into complaint patterns," it said adding implementing a robust validation mechanism.
Kazi Sayedur Rahman, chairman of BIBM Executive Committee and Deputy Governor of Bangladesh Bank, was present at the seminar as the chief guest.
Shihab Uddin Khan, associate professor and drector (Research, Development and Consultancy) of BIBM, delivered welcome address.
Dr Md Akhtaruzzaman, director general of BIBM, chaired the programme.
Md. Ali Hossain Prodhania, supernumerary professor of BIBM, Mohammad Ali, managing director and CEO of Pubali Bank, Saiful Islam Khan, executive director, Financial Integrity and Customer Services Department (FICSD), Bangladesh Bank, and Md Monitur Rahman, deputy managing director and chief of Operations and Information Technology, IFIC Bank PLC, made comments as designated discussants.
A good number of participants including senior bank executives, academicians, media representatives, faculty members of BIBM took part in the seminar.
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