BY KENYATTA OTIENO
For the first time since I started interacting with Chase Bank, I met a dissatisfied customer. The bank refused to issue cheque books after re-opening under receivership, then destroyed them without stating the timelines when they called him to pick it. He felt the bank had abused his patience, after he had waited and prayed that they re-open, this is what he least expected. However, he was certain that it was a decision made by Kenya Commercial Bank (KCB) receiver managers and not his beloved Chase Bank.
How did Chase cultivate such loyalty in its customers that even a wrong move by the bank is blamed on some ‘dark forces’ somewhere? Chase Bank was the 11th largest bank in Kenya at the time it was placed under receivership in early April. This came about after audit firm Deloite announced restated earnings, which had been deliberately ‘doctored’ earlier, leading into a run on the bank. Central Bank was forced to close it for about a month. Social media was full of people wishing Chase Bank well and hoping that they would reopen. Some even swearing that they would risk and stay with the banker.
Looking at it, this trust from depositors is the lifeline that has kept Chase Bank alive. No bank can survive a run, even tier one banks. Chase Bank happens to be a tier two bank. The situation in Kenya is that out of 42 banks in operation, about six banks in tier one handle of half of banking operations. Another 16 banks in the second tier handle about 40%, the remaining about 20 banks take the remainder.
There was a creatively done post doing rounds in social media a while back that described banks in relation to the type of men in Kenya. Some descriptions were outright hilarious but surprisingly I only remember Chase Bank’s description. That it is the proud upward mobile young man who lives in Kilimani and feels sweet to chat with ladies he deems are below his class. There is some truth to it but the description did not do justice to the designers of the Chase brand.
I visit Chase Bank often and more often than not I would chat one of its young employees and then ask her (it had to be her); why do you work for Chase Bank? The responses are always measured but weighty. One common feature in the responses is that the bank trusts young people and so the employees feel that they have a chance of rising up the ladder faster than other banks.
This was a basis of a social media jibe at KCB. Chase Bank customers warned that the middle aged KCB tellers who take tea while serving a client might find their way into Chase Bank. To say the least, the human resource department at Chase has a well thought out process of the type of people who can end up on their pay roll. These young beautiful ladies and suave men are kept at the points of contact with clients. I have seen a few veterans in the banking industry behind these urbanite generation Y and Zs.
One thing that will catch any man’s eye is the six-inch high-heeled shoe lady who works at Chase wear. It is a standard rule at the bank. Chase cracked one brief; money is emotional especially to men. There is something that is tickled in the psyche of men when a pretty and intelligent lady serves you. If you happen to get the chance of seeing her strut across the banking hall to pick something, then you will walk out with satiated eyes.
High heels will not look good on every lady. Heels will not raise a lady who grew up in the rural areas carrying loads on her back and head. The back and hip bones got strained which inhibits the gentle oscillation one makes while walking in heels. To this end, there is a group of ladies who will never see beyond the interview at Chase. It is not just about looks though; try engaging any lady at Chase and you will see the smarts behind the pretty faces. Men can work on their appearance and culture, which has allowed a wider spectrum of men to get a chance at Chase.
Chase Bank prides itself as a relationship bank and unlike many organizations whose vision and mission are meant to decorate walls; Chase Bank has endeavored to live by its maxim. The media had reports immediately after its closure of people who were surprised by customer care staff from Chase Bank on their special days. They have also employed people from diverse cultures and backgrounds just to make their clients feel at home.
Those interviewed were in agreement that they would bank with Chase when and if it reopened. Chase makes its clients to feel they are not just a statistic in the bank’s books.
The banking halls are also designed with relationship in mind. The halls are small enough for easy contact and warmth but large enough for required space. The colours are cool and reassuring which makes the ambiance right for their target market. Another thing that is spot on at Chase is their dedication to their target market. The young to middle aged upward mobile Kenyans. Chase is not trying to be everything to everyone. It is this clear delineation of who they would like to serve and tailoring their products to suit them that has made Chase successful in customer care.
On paper, Chase states that it is driven by and would like to be known for being; Inclusive, keeping it real, simplifying banking and serving with a passion. They focused on a target, aimed and hit it. It is not always that a bank that has been closed and put under receivership will open and thrive again. Give it to the people behind Chase Bank; they play six inches above the ground, which means they are not going six feet under any time soon.
