Going digital should not be an excuse for poorer services

Going digital and making more services available online should not be an excuse to give raw deals to customers who still prefer to conduct their business in person.

- Tan Ooi Boon

Ask anyone who has visited the banks recently and they will probably tell you that waiting times are longer, as it is no secret that the lenders are blatantly discouraging customers from turning up at branches as they believe they can serve themselves online.

This is evident in some of the banks' policies as well — customers who open fixed deposit accounts online are given slightly higher interest rates than those who bother to turn up at the bricks-and-mortar branch.

Such a policy runs counter to banks' wealth planning services, which are aimed at giving personalised service to wealthier clients.

By lowering fixed deposit interest rates for mostly older customers who prefer to manage their life savings in person, are the banks saying they do not deserve better treatment unless they have more money?

USING TECHNOLOGY TO PROVIDE GREAT SERVICE

Instead of looking at online platforms as an excuse to cut down on operational costs, all companies that have to deal with customers should take a leaf out of the Ministry of Health's book, because it has successfully used technology to serve patients better.