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1 CHAPTER-1 ……………………… .. ……………… … … . INTRODUCTION OF THE REPORT 2 1.1

INTRODUCTION Most private commercial banks in Bangladesh are actively installing
Cash Recycling Machines (CRMs) to provide rapid deposit and cash withdrawal services
to consumers. CRMs gave customers greater banking freedom, reduced reliance on
branches, and added a new dimension to the banking system. This allows to deposit and
withdraw bank cash efficiently and quickly. CRMs help banks eliminate the human effort
required to provide services by accepting cash, counting bills, authenticating, and
depositing money into accounts in real time.

The majority of banks provide the same basic products and services, and many are
seeking for alternative approaches to keep consumers. Cash recyclers are seen as
another instrument for improving customer service by those who have installed them.
Banks must embrace CRM if they want to gain a significant share of this industry. CRMs
are intended to take the role of automated teller machines (ATMs), which only enable
cash withdrawals, and reduce the requirement for cash deposit machines (CDMs), which
only accept cash deposits. 1.2

RATIONALE OF THE STUDY I suggest this study because United Commercial Bank (UCB)
Limited has long been a leading bank in our nation. They implemented CRMs because it
had many tangible benefits, including branch staff productivity, additional layers of
controls, fewer vault trips, and more accurate and effective drawer balancing. Cash
recyclers also offer user benefits that are not tangible or easy to assess. So, I want to
study customer satisfaction when using a cash recycling machine to withdraw and
deposit cash.

Therefore, this study is important and this report shows how the bank has transformed
its services through its CRM helps to understand and 3 measure customer satisfaction
with these automated services. This document will help students who want to learn
more about the Cash Recycling Machine (CRM). 1.3 OBJECTIVES OF THE STUDY Broad
Objective: The main purpose of this research is to explore CRMs and learn more about
their features and services. However, the main focus was to understand how cash
recycling machines (CRMs) can improve bank efficiency and profitability by satisfying
consumers. Specific Objective: Objectives Sources Methods Data Analysis 1.

To explore Cash Recycling Machine (CRM) systems Secondary Journals, articles, and
websites Descriptive 2. To know how the customer feels after using CRMs services.
Primary Questionnaire, The survey, Face to Face interview Descriptive Statistics Table1 :
Objectives 1.4 METHODOLOGY OF THE STUDY The two main types of methodologies
are qualitative and quantitative. In this study, the method of quantitative data method
was used. Collecting data through surveys and interviews is called a quantitative data 4
methodology.

To gather information for this study, a questionnaire was developed and a survey was
conducted to measure user satisfaction with the United Commercial Bank (UCB) Limited
Cash Recycling Machine (CRM). So, this study uses a quantitative technique. ? Primary
Data: To collect primary data 10 questions questionnaire was created. I have prepared a
survey for UCBL CRM users to complete. Savar's customers in the Nabinagar branch
were my target audience. Similarly, I used a simple random sampling method in my
study. I used a sample size of 30 people.

We also obtained primary data using the following techniques: Figure 1: Primary Data
Sources Face-to-face interviews Observations and experiences Direct interviews 5 ?
Secondary Data: A s e c o n da r y d a t a s ou r c e w as u s e d w hen i nv e s t i g a t i
ng a C as h R ec y c li ng M a c h i n e ( C R M ) s y s te m . S ec o n d ar y d a t a s o u r c
e s a r e t h e f ol low ing : 1 . 5 S C O P E O F T H E S T UD Y C ur re n t l y , U ni t e d C o
mm e rc i al B an k L im i t e d h a s m or e t h a n 1 70 b r a n c h e s .

I c h o s e t h e S av a r N ab i n a g a r b r a n c h s i nc e i t w as m o re c o n v e nie n t f
o r m e , a n d I w or k e d t h er e f o r 4 5 d a y s . O n e o f U CB L` s bi gg e s t b r a nc
h e s , i t h a s a c o m fo r t ab le w or k i n g e nv i r o n m e n t . H ow eve r , I h a v e c
o v e r e d t h e S t u dy o f C us t o me r S at i s f ac t i o n w it h t h e U n i t e d C om
me r c i a l B an k ( U C B) L im i t e d C a s h R ec y c li ng M a c h i n e ( C R M ) i n t h i s
p ap er .

I t h i n k r e a d in g t h e st u d y w ill h el p u s u nd e r s t a n d m o re a b ou t h o w t
he n a t i on ' s CR M s y s te ms fu n c t i on . A nn ua l R ep o r t o f U CB L B a n k w e b
s i t e J o u r n a ls a n d a r t i c l e s f r o m w e b s i t e s . F i g u r e 2 : Se c on da r y D a
t a S o u r c es 6 1.6 LIMITATIONS OF THE STUDY To provide the most recent information
and make our reports meaningful, we depend on the participation of numerous parties.
Despite our best efforts, we rarely succeeded in obtaining the information we need for
our study.

Consequently, this study has the following limitations: ? Due to data privacy
considerations, banks do not have access to all vital information. ? Secondary data
might not accurately represent UCBL's viewpoint because of scalability. ? Since it is
private, the bank does not provide any precise details. ? It would take more than a few
days to completely comprehend the nature of the job there. ? Due to the clients'
extreme reluctance to invest time in research, the sample size is restricted. 7 Chapter-2
………………………………………….. UNITED COMMERCIAL BANK LIMITED AT A GLANCE 8 2.1
INTRODUCTION United Commercial Bank Ltd.

(UCBL) is one of the largest first-generation private commercial banks in Bangladesh the
bank has expanded into many financial industries including retail banking, SMR banking,
corporate banking, offshore banking, and remittances. UCBL's adventure began on June
26, 1983. Without this, the bank will offer various retail deposit and lending products,
import and export credits to waiting applicants, and help Bangladesh's financial
situation by increasing foreign currency earnings. By investing in network expansion and
new technologies in hopes of gaining a competitive advantage, UCBL is consistently
associated with economic, commercial, commodity, and industrial improvements.
2.2STORICKGROU As a public limited company incorporated in Bangladesh under the
Companies Act, 1994 on 26 June 1983 and listed on the Dhaka Stock Exchange on 30
November 1986 and on the Chittagong Stock Exchange on 15 November 1995. With a
licensed capital of Tk 35.5

million, the bank started its banking business on 29th June 1983 with the aim of
providing excellent customer service and satisfaction. The bank was authorized to begin
operations on June 27, 1983. With the presence of all other banks in the country, this
modern bank has a significant network of 215 branches and is active in fierce
competition through individualized services, state-of-the-art procedures, a dynamic
approach, and effective management. actively participating. In 2006, UCBL launched the
consumer card, and since then it has had great success and profitability, dominating the
neighborhood market with 40,000 cardholders.

In 2017, UCB launched CRM (Cash Recycler Machine), a real-time cash deposit machine
in Bangladesh. Customers can access this service 24/7 at their nearest UCB booth 9
There are many concrete instances of its long history of association with many facets of
social responsibility. Some of the nation's most exciting initiatives are sponsored by well-
known businesspeople and influential industrialists, with support from the government.
So, one of the nation's earliest private banks is United Commercial Bank (UCB). 2.3

MISSION OF THE UCBL United Commercial Bank Limited's mission statement states, "To
present financial solutions that enable our clients to build, monitor and grow their
wealth by improving tng standards of munities in which t. 2.4 VISION OF THE UCBL
United Cmm's mstatTo behe bank of choice by creating value for our customers,
shareholders, and employees, and contributing the national economly responanner 2.5
SLOGAN OF THE UCBL "Happy Banking" was the United Commercial Bank's slogan. After
a 30-year journey was completed, the motto was altered, and "United We Achieve" is
now used. because they think that cooperation yields the best results. 10 2.6

CORE VALUES prioritize the needs of our clients respect for the rules of conduct uphold
standards of quality wherever consider it important to act as a good business citizen.
express what we think Encourage participation in management 2.7 OBJECTIVES Use the
latest information technology to provide our customers with faster and improved
service. Maximize the equity of our worthy shareholders to provide the largest possible
dividends. Ensure your team meets the highest standards of professionalism by
improving work efficiency, discipline, and understanding of technology. Participation in
syndicated large-scale loan financing to expand the investment scope of banks.

Increase financial support for small and medium enterprises, including agribusiness and
agro-based enterprises, thereby making a fair contribution to the national economy.
Ensure that management's core risk program is maintained. 11 2.8 DIVISION,
DEPARTMENT & BRANCHES In our country, United Commercial Bank Limited has 215
branches, 135 sub-branches, and 177 agent banks, which use to meet customers'
banking needs. UCBL has branches in each division. The bank operates 628 ATMs
nationwide. To manage the system effectively, the bank organizes all professions and
considers their interactions. Departments suitable for each task are assigned, and the
performance of each department is evaluated accurately.

UCBL has the following departments: Human Resources Division Trade Service and
Correspondent Banking Finance Logistics and Support Audit and Inspection Division
Information Technology Internal Control and Compliance Retail Finance Centre
Marketing Division Credit Division Corporate Banking SME Consumer Banking Credit
Admin and Monitoring Treasury Recovery and legal 2.9 PRODUCTS & SERVICES
Corporate, SME and retail customers can access a comprehensive range of banking
products and financial services from UCBL through a number of different delivery
channels as well as through its subsidiary businesses.
With its Off-shore Banking Unit, Mobile Financial Service (Upay), Priority Banking (UCB
Imperial), Remittance Services, Credit Card Business, and Devoted Human Capital of
5060, the Bank has already made a distinctive mark in the world of 12 private sector
banking through boutique service, innovative practices, dynamic, problem-solving
approach, and efficient management. UCBL has the following Products & Services: vice
2.10 ATM/CRM SERVICE Banks provide ATM and CRM services with ATM (Automated
Teller Machines) and CRM (Cash Recycling Machines) respectively.

A CRM is an extension of an ATM that offers real-time banking, including cash deposits
and withdrawals, but without the cash deposit portion of an ATM. As the economy
continues to grow and expand through digitization, the automation of operations and
procedures has become a key tool for banks to remain competitive. To meet changing
requirements, many banks are changing the way they work and looking to implement
new technologies and software. Unlike traditional ATMs, users can withdraw and deposit
cash using an all-in-one device, the cash recycler.

Also, machines are arguably faster and more accurate than humans for this job, so they
are better than employees manually counting invoices. Currency recyclers can also
detect counterfeit banknotes that workers cannot. Using such devices automates cash
handling, giving organizations greater security and control. 13 Chapter-3 LITERATURE
REVIEW 14 3.1 CUSTOMER SATISFACTION The dictionary defines satisfaction as an act of
enjoyment or fulfillment. The act of being satisfied; contentment, the basis for or
method by which one is satisfied, or the certain acceptance of something as adequate,
reliable, truthful, etc. It refers to making up for a wrong or receiving recompense for
damages.

It is the chance to remedy a mistake, such as by a duel. Customer satisfaction is a

measurement of how satisfied customers are when doing business with a firm.
Understanding A person`s degree of satisfaction is determined by how they feel after
comparing their performance or perceived outcomes to their expectations. Definition
The value of one's feelings satisfying or disappointing is determined through a
procedure that contrasts the existence or appearance of a desirable object with the
qualities that were anticipated.

airline's perceived level of satisfaction with fares and customer acquisition costs,"
"Customer satisfaction is the ultimate line of customer value achieved in a concept that
influences repeat purchase intentions and behaviors that lead to a company's sales and
profitability -purchase evaluation of a service or product that meets customer
expectations. is. Consumer pride is determined by measuring how well a service or
product performs against customer expectations and desires. Satisfied customers are
those who believe that a product or service performs on par, leading them to purchase
more products. The dissatisfied consumer persuades other customers not to make her
second purchase, leading them to switch to competing brands.

According to Kotler and Keller, consumer expectations for the performance of purchased
items are compared to customer satisfaction, which is a human feeling. Customer
reactions to assessments of perceived gaps between expectations and performance are
referred to as customer satisfaction. Customer satisfaction, according to Olivier, is a
post-purchase assessment of the perceived 15 performance of the product surpassing
client expectations.

Customer pleasure, according to Loveloock (2012), is an emotional state, Anger,

frustration, annoyance, joy, and neutrality are all possible buying reactions. Customer
satisfaction has a direct correlation to client retention, revenue, and market share.
Customers are more likely to be loyal consumers of goods and services if they are
satisfied with the value they receive. 3.2 CASH RECYCLE MACHINE (CRM) ATM-like
devices known as Cash Recycling Machines (CRMs) are devices designed exclusively for
cash deposit transactions and have computer systems triggered by magnetic bank cards.

Additionally, it can be used for a variety of online payments and transfers, both in and
out of the bank. A card is required to use the Cash Recycle Machine (CRM), which
accepts cash deposits of a specified minimum amount automatically for 24 hours. CRM
serves as a means of accepting cash deposits and cash withdrawals from customers or
prospective customers as part of the implementation of digital banking services (digital
branch), which can be used independently by prospective customers and/or customers
of digital banking services without involving bank employees. An ATM that accepts cash
deposits and checks account balances at nearby, 24-hour locations is known as a cash
deposit ATM (CRM).

According to the definition above, a Cash Recycling Machine (CRM) is an ATM-like

device that allows a bank teller to withdraw cash from a bank of a specified
denomination without the need to use anything other than a card. Can be used for
automatic collection. ATMs can be used for many different types of transactions,
including: 16 Withdrawing cash Transferring money between accounts in the same bank
or different banks Payment of bills (including mobile phone, credit card, utility bills,
telephone, and water bills) Various additional financial operations. Some of the benefits
banks get from ATMs include: Fees from ATM cardholders. Attract customers. A CRM
looks much like a standard ATM, except it has a hole or drawer on the front where
deposits are made.
A consumer must use an ATM card and a PIN number similar to those used in standard
ATMs to deposit cash. This transaction does not require activation or generation of a
new PIN number. Customers can deposit cash at any time using ATMs that accept
deposits 24/7. 3.2.1 Features of CRM More options are available to consumers than ever
before, and they are more eager to make decisions. Every customer needs a bank that is
dependable and trustworthy in addition to being handy, approachable, and simple to
use. They require a universal bank with quick and simple access to cash and knowledge
of all their financial needs.

But in terms of operations, financial institutions should follow the adage "less is more". It
has always been difficult for them to accommodate the rising demand for access to cash
by diversifying their network and optimizing ATM usage. Recyclers are now an important
part of the entire cash management strategy. This enables banks to increase their
geographic reach while lowering operational expenses. These physical endpoints, when
combined with very efficient cash management tools, may produce incredibly lucrative
businesses, highly secure operations, and highly satisfied customers. 17 3.2.2

How Do CRMs Work? Real-time cash withdrawals and deposits are done in CRM, and
transactions are instantly reflected in the bank account. When cash is deposited, the
cash recycler will count the bills and display the total amount entered into the deposit
and the amount for each denomination. After the amount is displayed, the consumer
must confirm that the amount is correct before completing the transaction. Consumers
are given a receipt showing their final account balance.

CRM accepts banknotes of 100, 500, and 1,000 Taka and returns torn, glued or damaged
banknotes. In addition, look for counterfeit bills when depositing or withdrawing cash.
Money placed is withdrawn on subsequent transactions. This is cost-effective for banks,
as ATM operating costs represent a significant portion of cash processing costs. By
minimizing the frequency of cash loading and replenishment, CRMs can reduce costs
associated with cash transportation (CIT), cash sorting, and cash handling.

Immediately after a consumer places banknotes into the cash recycler, a number of
sensors carry out the following tasks: 18 Figure 3: Steps of CRMs deposit Process Real-
time withdrawals and deposits are made, and the customer's account is immediately
updated. Step-2: Identifies the denominations of the notes deposited Step-4: Sorts and
securely stores the accepted notes, readying them for later use. Step-1: The cash
recycling machine authenticates the currency that has been placed and sends
counterfeit notes straight to a designated cassette. Step-3: Counts and registers the
deposited amount into the custom 19 3.3
CASH RECYCLING MACHINES (CRMs) IN BANGLADESH Technology has had a major
impact on the banking revolution and banking is now widespread. Despite the fact that
many banks have gone online in Bangladesh, a radically different concept, technology-
based banking, is gaining popularity as a recent trend. Last year, the number of Cash
Recycling Machines (CRMs) installed by Bangladeshi banks to help customers make
quick deposits, withdrawals, and money transfers almost quadrupled.

According to Bangladesh Bank, the bank will install 917 of these machines during 2021-
2022, bringing the total to 1,821, an increase of about 99% from the previous year. Users
prefer to use companies that offer excellent online banking services. In 2017, this latest
technology was introduced to Bangladesh. The first Cash Recycling Machine (CRM) in
Bangladesh has been installed by United Commercial Bank Limited (UCBL). For their
consumers' hearts and minds, banks must compete. Recent figures show that when it
comes to installing CRM booths, UCBL and IBBL are at the forefront. In Bangladesh,
almost all private commercial banks have at least one CRM booth.

These financial services are provided by the following six large banks: 20 TOP CRMs
SERVICE PROVIDING BANK UCBL MTBL FSIBL CITY BANK IBBL BRAC BANK Figure 4 : Top
CRMs Service Providing Bank 21 CHAPTER-4 ANALYSIS AND FINDINGS 22 4.1 METHOD
TO FIND OUT CUSTOMER SATISFACTION LEVEL First, I created 10 survey questions to
rate existing customers of the Nabinagia branch of United Commercial Bank Limited on
a scale of 1 to 5. This helps determine the satisfaction of customers using the CRMs of
United Commercial Bank Limited. The survey is based on responses from 30 customers
of the bank.

The ranking criteria are as follows: 1 Strongly Agree 2 Agree 3 Neutral 4 Disagree 5
Strongly Disagree Table 2: The standards of the rating I also used some closed questions
to get possible responses of Yes or No. After the survey, I will analyze the results and
create a summary of what I learned from the study of the data. The survey results will be
presented at the end depending on the results of the analysis of the survey data. 4.2
ANALYSIS OF SURVEY DATA Surveys are created based on several factors that directly or
indirectly affect customer satisfaction. To understand the reality of UCBL's CRM, we
surveyed specifically UCBL’s ustomerand An of survey follows. 23 1.

Number of customers who have a Debit Card of UCBL. Remark Number of Respondents
Percentage Yes 29 97% No 1 3% Table 3: Number of Debit Card Holders Figure 5:
Number of Debit Card Holders Interpretation: Customers were questioned about
whether or not they currently had a UCBL debit card in the first question. The column
chart above indicates that more than 93% of users have a debit card. Only 3% of
customers, however, still do not. We may assume that users can use a debit card for
financial transactions based on this information.

0 5 10 15 20 25 30 Yes No 97% 3% Number of customers who have a Debit Card of

UCBL Yes No 24 2. Number of customers are familiar with the cash deposit and
withdrawal features of the UCBL cash recycling machine. Remark Number of
Respondents Percentage Yes 27 90% No 3 10% Table 4: Number of customers are
familiar with CRMs Figure 6: Number of customers are familiar with CRMs Interpretation:
The above graph shows how widely recognized UCBL's CRMs are among its clients. The
responses of 90% of customers agreed. Since UCBL clients have provided nearly all of
the responses. Three customers, though, expressed their disagreement.

It demonstrates that they are unaware of information on UCBL's CRMs and are unaware
that cash may be deposited and withdrawn around the clock. However, it's encouraging
that most individuals are curious to learn about this bank's services. 0 5 10 15 20 25 30
Yes No 90% 10% Number of customers are familiar with the cash deposit and
withdrawal features of the UCBL cash recycling machine. Yes No 25 3. Number of times
customers use CRMs services per month. Remark Number of Respondents Percentage
NEVER 1 3% 1 to 3 5 17% 4 to 7 14 47% 8 to 10 4 13% 10+ 6 20% Table 5: Number of
times CRMs services used Figure 7: Number of times CRMs services used Interpretation:
According to data, about 47% of customers use CRMs services Among the participants,
it has the highest rate. While 3% of users still use traditional banking. They do not
understand the advantages of utilizing the Bank's CRM service.

However, 20% of the responders who are customers use this service more frequently. 1 5
14 4 6 0 2 4 6 8 10 12 14 16 NEVER 1 to 3 4 to 7 8 to 10 10+ Number of times UCBL’s c
CRMs services per month. 26 4. CRMs services have been used most frequently. Remark
Number of Respondents Percentage Cash Withdrawal 15 50% Cash Deposit 5 17%
Balance Check 8 27% Fund Transfer 2 6% Pay Bills 0 0% Table 6: Most frequently use
CRMs service Figure 8: Most frequently use CRMs service Interpretation: Cash
Withdrawal Services have taken up around half of the pie graph. It showed that over
50% of the respondents performed Cash Withdrawals using CRMs. The Balance Check
utilized 27% of the total.

Because clients utilize traditional banking for this specific service, 17% was used for Cash
deposits, 6% for Fund transfers, and 0% for Pay Bills. CRMs provide the gasoline for the
growing need for 24-hour financial transactions. Because of this, more people are using
CRM services. 50% 17% 27% 6% CRMs services have been used most frequently. Cash
Withdrawal Cash Deposit Balance Check Fund Transfer Pay Bills 27 5. Number of
customers use CRMs to deposit cash in accounts. Remark Number of Respondents
Percentage Yes 24 80% No 6 20% Table 7: Number of customers use CRMs to deposit
cash Figure 9: Number of customers use CRMs to deposit cash Interpretation: According
to the above graph, 80% of respondents deposited money into their accounts using
CRMS. As a consequence, individuals are able to deposit modest amounts of cash after
the banking hour, among other basic banking services. Customers of UCBL who only use
their bank's debit card are given access to this service.

Whereas 20% of the clients in this area don't utilize this service. 0 5 10 15 20 25 Yes No
80% 20% Number of customers use CRMs to deposit cash in accounts Yes No 28 6. .
Remark Number of Respondents Percentage Excellent 14 47% Good 6 20% Average 8
27% Bad 1 3% Poor 1 3% Table 8: Score is given to CRMs service Figure 10: Score is
given to CRMs service Interpretation: Nearly 47% of the respondents thought the CRMs
service provided by UCBL offered good services, earning CRMs of UCBL an excellent
grade. However, 27% of the responders indicated average. However, 20% of the
respondents believed that their CRM's offerings were only decent, not exceptional.

3% of people, respectively, indicated their disapproval of UCBL CRMs. 47% 20% 27% 3%
3% CRMs services have been used most frequently. Excellent Good Average Bad Poor 29
7. perform traditional banking activities using CRMs. Remark Number of Respondents
Percentage Strongly Agree 8 27% Agree 14 47% Neutral 6 20% Disagree 2 6% Strongly
Agree 0 0% Table 9: Ease of using CRMs services Figure 11: Ease of using CRMs services
Interpretation: Nearly 27% of the clients strongly agreed that utilizing CRMs makes
banking tasks easier than those that require traditional methods. While 47%, or nearly
half of the respondents, were in agreed with utilizing CRMs, 6% of them expressed
opposition. They thought it was difficult and inconvenient.

20% of the respondents had a neutral stance on the opposite side. They didn't find it to
be difficult or complex. However, none of them disagreed vehemently. 0 2 4 6 8 10 12 14
Strongly Agree Agree Neutral Disagree Strongly Agree 27% 47% 20% 6% 0% Itto
perform banking using CRMs Strongly Agree Agree Neutral Disagree Strongly Agree 30
8. A secure system for banking transactions is the CRM service. Remark Number of
Respondents Percentage Strongly Agree 10 33% Agree 13 44% Neutral 5 17% Disagree
1 3% Strongly Agree 1 3% Table 10: Security level CRMs systems Figure 12: Security level
CRMs systems Interpretation: Data clearly demonstrates that 44% of consumers believed
CRM systems to be secure for carrying out banking transactions. However, 3% of them
expressed strong disapproval, saying that it appeared like CRMs were less secure than
traditional ones. 17% of respondents remained neutral, though.

They didn't appear to be safe or unsafe. Thus, according to 33% of respondents, the app
is more safe than traditional banking. 3% of the population disagreed as well. 0 2 4 6 8
10 12 14 Strongly Agree Agree Neutral Disagree Strongly Agree 33% 44% 17% 3% 3%
Itto perform banking using CRMs Strongly Agree Agree Neutral Disagree Strongly Agree
31 9. Number of s CRMs system failed. Remark Number of Respondents Percentage
NEVER 11 37% 1 to 3 14 47% 4 to 7 2 6% 8 to 10 3 10% Table 11: Number of times
Figure 13: Number of times CRMs services used Interpretation: Data shows that 47% of
users of CRM systems had failures 1 to 3 times.

It has the highest rate among the participants. While 16% of users had issues or
repeatedly failed to complete a transaction. Because of the poor quality of the internet,
several transactions failed. However, 37% of respondents said they had never had a
problem using CRMs, however, these consumers had problems due to slow internet. 11
14 2 3 0 2 4 6 8 10 12 14 16 NEVER 1 to 3 4 to 7 8 to 10 Number UCBL’s CRMs system 32
10. Satisfaction level of customers who used UCBL's CRM service.

Remark Number of Respondents Percentage Very Satisfied 15 50% Satisfied 9 31%

Neutral 1 3% Unsatisfied 2 6% Very Unsatisfied 3 10% Table 11: Satisfaction level of
customers Figure 14: Satisfaction level of customers Interpretation: As 81% of
respondents said they are satisfied, of them, 50% said they are extremely satisfied, and
customers are happy with UCBL's CRM services. However, 10% of the respondents are
extremely dissatisfied with UCBL's CRM services. The adoption of CRM systems for
banking has not gone well for them. While 3% of respondents are in the neutral
category, neither satisfied nor dissatisfied, 6% of respondents are unsatisfied.

0 2 4 6 8 10 12 14 16 Very Satisfied Agree Neutral Unsatisfied Very Unsatisfied 50% 31%

3% 6% 10% Itto perform banking using CRMs Very Satisfied Agree Neutral Unsatisfied
Very Unsatisfied 33 4.3 FINDINGS Analysis shows that about 3% of respondents do not
frequently use CRM services and still rely on traditional banking channels. However,
more than 20% of the respondents utilize CRM systems more regularly, with 47% of
them doing so four to seven times each month. Analysis shows that most customers use
his CRM service for cash withdrawals. Nearly 50% of respondents said yes.

While 27% was utilized for checking the balance, and 17% was used for cash deposits.
Since none of them use it to pay bills, just 6% of them were used for fund transfers. It
shows that banks are introducing new services to attract more clients, and clients are
having the chance to use the banks' essential services, such as deposits and withdrawals.
According to the survey, the majority of consumers did not use CRMs to deposit cash
into a bank account, but the majority of them were aware of this capability and had
completed at least one transaction using CRMs from UCBL.

The purpose of this service is to enable consumers to access basic banking services
beyond regular business hours. They have 24/7 access to banking through CRMs.
Additionally, 47% of respondents gave excellent ratings for the UCBL CRM, which is the
highest rating given, but nearly 27% gave average ratings. This is concerning for the
bank because it suggests that the second-best respondents believe their CRM services
are not as good as those of other companies.

Additionally, a few respondents expressed unfavorable opinions, endangering the

effectiveness of their CRMs. Finally, it can be concluded from the data that most clients
have high levels of satisfaction and are pleased with UCBL's CRM services. However, a
significant portion of respondents — nearly 10% — are highly dissatisfied with the UCBL
CRMs' services. 34 Chapter 5 RECOMMENDATIONS AND CONCLUSIONS 35 5.1
RECOMMENDATIONS In order to serve consumers, United Commercial Bank Limited has
established CRM/ATM booths in various locations around the nation.

they provide customers with 24-hour access to services for cash withdrawals and
deposits, fund transfers, balance checks, and bill payments. In bridging the gap between
what consumers receive and what they expect, this paper will be helpful. however, there
are other situations on which UCBL should focus, including the following: ? CRM
applications need to be redesigned with the bank's whole customer base in mind. ? It
should be responsive and user-friendly so that customers may utilize them with ease. ?
In order to motivate clients to use CRM systems, a variety of programs should be
implemented, such as awareness seminars.

? Customers should receive appropriate instructions regarding CRM-based banking. To

make it simple for users to utilize the CRM system for cash deposits, all the necessary
functions should be implemented. ? UCBL has to increase its marketing efforts for its
CRM services, particularly for the deposits feature. ? CRMS systems should get regular
updates to maintain them secure and bug-free. 36 5.2 CONCLUSION The banking
industry has evolved due to digital technologies. Bangladesh has also improved its use
of these technologies, particularly in the banking industry.

With various digital banking services like CRMs, United Commercial Bank Limited is
playing a significant part in the economy of Bangladesh. People use the CRM solutions
offered by UCBL to conduct business more effectively and at a lower cost. Although they
face certain challenges and hazards in offering the greatest banking services, UCBL is
working to get over these obstacles so that customers may conduct transactions without
facing any issues. CRM system- based banking services, which are more affordable and
effective than conventional banking systems, should receive more attention from UCBL.
The CRM services of UCBL have gotten very near to individuals, and customers will
benefit from them.
With the help of CRMs system banking, life is getting simple and carefree. We
discovered UCBL's several characteristics through the analysis of its CRMs, including its
first-rate customer support, customer satisfaction, standard banking service application
systems, 24/7 accessibility, and more. UCBL should work to expand its set of advantages.
In terms of weaknesses, some of the main issues I've observed include clients who aren't
aware of the benefits of CRMs.

The bank has to concentrate intensely on these issues and make every effort to fix them.
I certainly know a lot more about UCBL. It is one of the best banks in the country and is
well-known all over the world. I even had the chance to thoroughly understand how
digital banking has developed. However, having the chance to collaborate directly with
their IT group improved my experience. I've opened many accounts and provided debit
cards. Additionally, I have instructed clients and assisted them in understanding how the
CRM's banking application system functions, including how to withdraw or deposit
money using a debit card.

I also address a variety of problems and complaints clients have when utilizing CRM
systems. 37 REFERENCE Zikrillah, N. S., safarida, N., Fahriansah, F., & Zikrillah, N. (2022,
April 30). Customer preference analysis in using cash recycle machine service at Bank
Syariah Indonesia | J-EBIS (Jurnal Ekonomi dan Bisnis Islam). Retrieved December 27,
2022, from https://journal.iainlangsa.ac.id/index.php/ebis/article/view/4061 Jones, D.
(2020, February 13). Cash recycling, interactive teller machines are the future of banking.
Retrieved December 27, 2022, from https://www.atmmarketplace.com/articles/cash-
recycling-interactive-teller- machines-are-the-future-of-banking/ Uddin.

(2021, May 23). Banks fast embracing cash recycling machines. Retrieved December 27,
2022, from https://www.thedailystar.net/business/banking/news/banks-fast-embracing-
cash- recycling-machines-2097725 Muhammad Jahid. (2022, August 18). Cash recycling
machines gaining traction. Retrieved December 27, 2022, from
https://www.thedailystar.net/business/economy/news/cash-recycling-machines-
gaining-traction-3097601 Cash recycling machines growing increasingly popular. (2022,
August 18). Retrieved December 27, 2022, from
https://www.dhakatribune.com/business/2022/08/18/cash-recycling-machines-
growing-increasingly-popular 38 Dabo, M. (2019, November 30).

CRM: the cool machines that are driving efficiency in cash handling - Retail Banker
International. Retrieved December 27, 2022, from
https://www.retailbankerinternational.com/analysis/crm-the-cool-machines-that- are-
driving-efficiency-in-cash-handling/ Cash Recycling Machines: Bridging the gaps ATMs
left out. (n.d.). Retrieved December 27, 2022, from
https://www.moneycontrol.com/news/technology/fintech-cash-recycling- machines-
bridging-the-gaps-atms-left-out-4981061.html Cash Recyclers Transform Customer
Service and Help Increase Profits | ARCA. (n.d.). Retrieved December 27, 2022, from
https://www.arca.com/resources/cash- recyclers-transform-customer-service-and-help-
increase-profits/ Howcroft, J. B. (n.d.).

Customer Satisfaction in Retail Banking. Retrieved December 27, 2022, from

https://www.tandfonline.com/doi/abs/10.1080/02642069100000002 Jamal, A., & Naser,
K. (2003, February 1). FACTORS INFLUENCING CUSTOMER SATISFACTION IN THE RETAIL
BANKING SECTOR IN PAKISTAN | Emerald Insight. Retrieved December 27, 2022, from
https://www.emerald.com/insight/content/doi/10.1108/eb047465/full/html Kaur, B.,
Kiran, S., Grima, S., & Rupeika-Apoga, R. (2021, November 17). Digital Banking in
Northern India: The Risks on Customer Satisfaction. Retrieved December 27, 2022, from
https://www.mdpi.com/2227-9091/9/11/209 39 APPENDIX I QUESTIONNAIRE The
Impact of Cash Recycling Machines (CRMs) on Customer Satisfaction A study of United
Commercial Bank Limited, Nabinagar branch, Savar 1. Do you have a Debit Card from
UCBL? A. Yes B. No 2.

Are you familiar with the cash deposit and withdrawal features of the UCBL cash
recycling machine? A. Yes B. No 3. How many times do you use CRMs services per
month? A. Never B. 1 to 3 C. 4 to 7 D. 8 to 10 E. 10+ 4. Which CRMs services have you
used most frequently? A. Cash Withdrawal B. Cash Deposit C. Balance Check D. Fund
Transfer E. Pay Bills 5. Do you use CRMs to deposit cash in accounts? A. Yes B. No 40 6.
On a scale of 1 to 5, how much score you will give to the UCBL’s CRMs service? A.
Excellent B. Good C. Average D. Bad E. Bad 7. Itm traditional banking activities using
CRMs. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree 8.

CRM service is a secure system for banking transactions. A. Strongly Agree B. Agree C.
Neutral D. Disagree E. Strongly Disagree 9. How many times s CRMs system failed for
you? A. Never B. 1 to 3 C. 4 to 7 D. 8 to 10 10. Are you satisfied with UCBL's CRM
service? A. Very Satisfied B. Satisfied C. Neutral D. Unsatisfied E. Very Unsatisfied

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