Customer Service in Banks: Beyond Smiles, Into Real Financial Issues | Madhusudan Hegde | Part 3

What happens when customer service in banks is not just about courtesy, greetings or branch ambience — but about a customer’s actual money?What happens when families struggle to claim the money of a deceased customer?And when a senior citizen loses money in a digital fraud, should the bank simply say “customer is wrong” — or should banks take more responsibility?In Part 3 of our 4-part special series on customer service in Indian banking, I continue my conversation with Mr. Madhusudan Hegde, a veteran banker with nearly four decades of experience.Madhu started his career as a Probationary Officer with Syndicate Bank in 1984 and later held senior responsibilities at HDFC Bank, including customer experience at retail branches at a national level.This part focuses on customer issues that are very different from the usual “feel-good” aspects of customer service. These are real financial and real-life issues — unclaimed deposits, nomination, death claims and digital fraud — where banks need to combine process, accountability and empathy.The conversation covers:– Why unclaimed deposits continue to rise in Indian banking– Why banks must make more sincere efforts to trace customers and families– Why nomination should be seen as customer protection, not just paperwork– How death claims can become painful and difficult for families– Why banks need to handle such situations with more humanity– How digital banking has improved convenience but created new risks– Why senior citizens and vulnerable customers need better protection– Whether banks should take more accountability in digital fraud cases– Why “customer is always wrong” is a dangerous starting point in bankingMadhu makes an important point: banks are not just service providers. They are custodians of customer money. When customers or their families face difficult moments — death claims, inactive accounts, fraud or access to rightful money — the bank’s response can have a deep financial and emotional impact.Timestamps00:11 – Introduction to Part 3 of the customer service series01:25 – Why unclaimed deposits build up in banks03:06 – What banks can do to proactively reach customers04:14 – Why nomination should be treated as customer protection05:22 – How joint accounts can be effective06:24 – Why nomination helps 100% of customers 06:50 – Why families struggle with death claims in banks10:55 – Digital banking: balancing convenience and security12:18 – Why banks need more accountability in digital fraud cases14:12 – A real example of a senior citizen fraud complaint15:40 – Closing note and preview of Part 4This is Part 3 of our 4-part conversation on customer service in Indian banking.In the final part, we move closer to the branch and discuss digital banking versus human touch, sales one-dayers, scripted conversations, private sector versus PSU banks, and other practical aspects of customer service.Please subscribe to Banking Reframed for more conversations on banking, BFSI careers and the changing world of financial services.#BankingReframed #CustomerService #IndianBanking #BFSI #CustomerExperience #DigitalBanking #BankingFraud #UnclaimedDeposits #Nomination #DeathClaims #BankingPodcast #BygC