PROBLEM ANALYSIS AND DECISION MAKING ON REPETITIVE CUSTOMER COMPLAINTS IN BANK JAYA ARTHA'S PENSION BUSINESS UNIT IN RELATIONS WITH REPUTATIONAL RISK MANAGEMENT

• Main Author: Adamrah, Mustaqim
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/79908
• Institution: Institut Teknologi Bandung

The growing population of older people in Indonesia—the world’s fourth-most populous country—makes a larger cake for a pension business, including in the banking sector. PT Bank Jaya Artha is one of the Indonesian banks that provide products and services for people set to enter their retirement age. In the wake of tight competition in the pension business market, Bank Jaya Artha has since December 2019 imposed a fine of three times of installment in addition to 5% of outstanding debt already in place on customers planning to repay their debt in a mission to prevent them from leaving for competitors. While the clause is not included in loan agreements signed before the implementation, it applies to past loan agreements as well. This in turn has led to customer complaints, a number of which make high profile cases because they reach to the Financial Services Authority and/or legal courts. The research is meant to find out how the implementation of the unconsented clause has affected customer satisfaction and willingness to recommend the bank, and what the bank should do to become more customer centric, according to customers. The researcher gathers the bank’s internal data to get a snapshot of the business profile and number of complaints. The researcher then collects quantitative and qualitative data from the bank’s pension customers through questionnaires before moving forward to focused group discussions for a deep dive to collect qualitative data. The researcher uses a design thinking framework in this research, starting from the empathize phase, to the define phase, to the ideate phase, to the prototype phase, to the test phase, and to the implement phase. The research is limited to only the bank’s pension customers in Jakarta, Tangerang, Bekasi, Bogor, Semarang, and Surabaya for questionnaires, and to pensions customers in Jakarta who have loan with certain age ranges and length of engagement with the bank for focused group discussions. The researcher also limits the research to the ideate phase, and would continue with the prototype phase after the thesis period. Statistical analysis is utilized on quantitative data from questionnaires and content analysis on qualitative data from questionnaires. A narrative analysis is also used to explain qualitative data from focused group discussions. The result shows that there are problems in the way the bank communicates information to customers, particularly information about the loan repayment fine. Lack of transparency, a reactive approach instead of a proactive one, obscurity of the information, and the time the information is delivered have affected customers’ ii satisfaction toward the bank. Customers choose to stay with the bank because of the community, speedy processes, and the maximum loan limit. Despite high customer satisfaction in Net Promoter Score, the research finds low recommendation number among customers partly because of customers’ experiences with unfriendly staff members, expensive loan insurance premium, lack of reward for bringing in new customers, high loan repayment fine, customers’ limited social circle, and customers’ perception that choice of bank is personal. The researcher recommends the bank make prototypes of the ideas suggested by customers and test them on customers, using a human-centered approach, to regain trust from customers. The researcher also recommends possible future researches about direct correlations between reputation based on complaints within the bank and the bank’s pension business unit’s performance; or the bank’s pension business unit’s customer community as platform for engagement, acquisition, retention, and information channel; or the impact of the community as a complaint channel to the bank’s reputation