Asian Journal of Economics, Business and Accounting

This research examines the evolution of customer service operations in private commercial banks, specifically focusing on the 4th generation banks in Rangpur City. Launched in 2013, these banks were designed to invigorate the banking sector; however, they have encountered significant financial hurdles, leading to a critical reassessment of their service strategies. The paper analyzes the differences in customer service practices between 4th generation banks and earlier generations, determining which generation excels in performance. A total of 200 customers participated in this study, with 100 individuals from each generation banks and 20 customers from each bank selected through purposive sampling method. It underscores the importance of regulatory institutions, such as Bangladesh Bank, in preserving financial stability and promoting customer satisfaction. The results indicate that, although overall customer satisfaction is generally positive, there are still areas that require improvement, particularly in meeting customer expectations. Additionally, the study found that 4th generation banks provide a higher level of customer service compared to their predecessors. It further explores the influence of regulatory supervision and initiatives aimed at enhancing banking services, especially in rural and developing areas like Rangpur. The findings contribute to a broader understanding of the ongoing transformations within the banking sector, shedding light on how 4th generation banks are modifying their service models to adapt to evolving market demands and financial challenges while delivering quality service to customers in Rangpur City.