SUBMITTED BY SIDHANT ANAND
VENKAT BHANU PRAKASH JASTI
INTRODUCTION TO THE CASE
• The case talks about JYSKE BANK , which is the third largest bank in
Denmark and has been formed through the merger of 4 Danish
Banks, having their operations in Jutland .
• The case talks about JYSKE BANK being the market leader in customer
satisfaction through their model called JYSKE FORSKELLE, and the
practices they adopted to satisfy the customer to their best.
ABOUT JYSKE BANK
• The headquarters are located in Silkeborg, and has branches in
Denmark, France and Germany.
• Initially the bank, had a very typical Danish approach of being
prudent, conservative, well manager and generally unremarkable.
• The bank followed the traditional Danish approach , which was
commonly followed by the most Danish Banks.
• In the beginning of mid – 1990’s the bank led to a change in process ,
which was different from how the traditional Danish Banks used to
• The changes were called the JYSKE DIFFERENCES , which led to a
change in their focus from a product oriented bank to a customer
• As a result of which, the bank became the market leader in
CUSTOMER SATISFACTION among all other Danish banks.
“JYSKE FORSKELLE” or “JYSKE
• Have common sense
• Be open and honest
• Be different and unpretentious
• Have genuine interest and equal respect for people
• Be efficient and persevering
SEGMENTATION, TARGETTING AND
• DANISH FAMILIES AND
SMALL –TO –
• POSITIONS ITSELF AS
A BANK WHICH
MAKES A DIFFERENCE
FOR THE CUSTOMER.
1. Nice Infrastructure.
2. Dedicated and trained employees.
3. Market leader in customer satisfaction.
4. Huge number of human resources.
1. Presence only in Denmark.
2. Limited customer base – as they focus only on Danish families, and
Small- To – Medium sized Danish companies.
1. Can expand to the international market.
2. Can increase their customer base by focusing on other segments of
1. High liquidity issues may arise in future , as they spend a lot of
money on infrastructural development.
2. E- commerce can be one of the biggest threats as it is changing the
focus of the customers from branch banking to online banking.
is Jyske Bank’s new positioning or competitive
OUT OF THE BOX SERVICE
• Specific target segment and
targeting right segment to
• Small group of bankers for one
• Friendly and new pictures of
employees on the ID cards.
• Developing IT tools to help
customers in identify the problem
and provide them with appropriate
• Not only the tools but, also the
employees who help the
customers with appropriate
VALUE ADDITION AND
• Making time and caring about the
• Employee training in customer
• Empowerment to employees
• Best infrastructure with facilities
Q2.What changes did the bank make to get to its new
position? What effect did these changes have?
CHANGES IN ACCOUNTS
CHANGES IN BRANCH
One employee was
dedicated to one
customer. This made the
customer feel that he is
been given due
1. Small teams of
employees for providing
2. Cafe’s – Provides
3.Round Tables –
4.Visible Screens –
Portray openness of
information with the
DECENTRALISATION OF LOAN
The banks started providing
employees with trainings on
team building and customer
Initially, if a customer was to
apply for a loan, the entire
procedure used to take a
long time as the branch
manager used to write a
formal application and
forward the same to the
regional level for approval.
After the change in the
process the managers were
give credit training and were
also give the authority to
take decisions for loans
approval at the branch level
Q3.Analyse Jyske Bank’s success using the Service Quality
Gaps Model found in Chapter 2. What are Jyske Bank’s
strategies for closing the 5 gaps in the model?
The customer gap was very less as the bank was able to provide is
customers with their superior services.
They had only targeted the premium customer’s to whom the price
did not matter.
As a result of which they were able to provide the customers high
quality services and were able to achieve minimum customer gap and
highly satisfied customers.
• GAP 1: Listening Gap
The listening gap was very less, as with the introduction of the JYSKE
FORKSELLE, the bank had come out with IT tool to first figure out the
customer’s problem and expectations.
They had dedicated a team of 4 employees per customer to get a better
understanding of customer’s problems.
• GAP 2: Service Design and Standard Gap
The bank was successfully able to close this gap.
The bank provided its customer with the best in class service in terms of
the customer solutions and also provided customers with the best
infrastructure facilities to make them feel at home.
• GAP 3: The Service Performance gap
The bank was successfully able to retain its employees and provide them
with adequate trainings.
Bank was not only the leader in customer satisfaction but was also a leader
in employee satisfaction as well. The employees were provided with good
incentives and were kept happy so that they could work.
• GAP 4: Communication Gap:
The communication gap was very low.
The bank provided the customer’s with all the possible information that
the customer required and also provided the customer with all the
Q4.In your opinion can Jyske Bank sustain its growth and
success? Would you invest in Jyske Bank?
• If they continues work with its Jyske Forskelle then it won’t be able to
sustain its growth and success
• According to this their market share in market won’t rise resulting in
no increase in profits thus not able to expand and will result to
decline in growth as Jyske Bank resulting had to close its three
• London Branch (2008)
• Warsaw Branch (2007)
• Fuengirola Branch (2007)
• But if the Jyske bank makes changes in its strategies and focus on
more customers rather than selective customers then it can gain
more market share, more revenues.
• Previously they were also charging very high to customers so they
have to reduce that as in today’s scenario customer don’t prefer to
pay when competitor’s charges are low.
• No, I would not like to invest in Jyske Bank as Jyske Bank Share value
was 192.50 in2004 reached to highest 476 in 2007 but now it is
declining constantly reaching to 285 which is not a good symbol for a
company to invest in.