...largest economy in the world by 2050, out of all the graduates that pass out in an academic year, only 25% are suitable for getting inducted into the industry.” Jeffrey Fuller, Principal Advisor of Human Capital. There exists a huge gap between the skills that are required by the industry and what the Indian academic system produces. The objective of IIQF is to impart training to students in those skill-sets that are in demand in the industry and make them industry ready, or as we call them “The Street-Ready”. Certificate Program in Advanced Financial Modelling in Excel and VBA Certificate Program in Financial Modelling in Excel A course geared towards teaching the practical skills required for making a career in Investment Banking, Equity Research, M&A Specialist, Company Valuations, etc. This is a program where practicing Investment Bankers and Treasury Professionals teach the latest techniques and modeling skills that are used in the industry. This is a “hands-on” course, with extensive use of computers and...
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...Going digital – transformation in banking sector Digital transformation in Banking sector has begun. In the process of going digital, established institutions are introducing digital platforms that could help their customers have a better experience. While, startups in this domain are coming up with an approach of having “digital platform” as the only way to function. Customers today are introduced to a digital platform that takes care of all their banking functions from opening a new account to handle issues relate to their existing account, and helps resolve issues associated with their debit or credit cards. Customers across the globe have been continuously demanding a digital medium that can make their banking functions simple. As per...
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...industry by rewriting the rules of banking and personal finance. It has taken the interpretation of direct banking to a whole new level. The direct banking model, which aims to provide services remotely via telephone or online banking without relying on a physical branch network, has been prevalent since the late 1980s when UK’s Midland Bank established a subsidiary named First Direct – the world’s first fully functional direct bank. [1] However, the concept gained widespread prominence after the commercialization of internet in the 1990s. In the early 1990s, the first wave of adopters of the internet-enabled direct banking model were financial institutions such as USAA and First Security Savings Bank (Flagstar). [2] Towards the late 1990s, standalone ‘internet-only’ banks such as Security First Network Bank (US), First-e (Ireland), and mBank (Poland) commenced operations. Most of these ‘banks’ did not have a banking license and were therefore incubated and supported by conventional banks such as CommerzBank, and Banque d'Escompte. The aftermath of the early 2000s dot-com bubble impacted some of these early movers and dampened consumer enthusiasm towards fulfilling their banking needs online. However, starting in the mid-2000s, there was renewed interest in leveraging the internet for retail banking needs. Emergence of social platforms and e-commerce led to a shift in consumer behavior. Consumers were becoming more receptive to online banking. [3] This led to an emergence of...
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...Online Banking and How It Will Change our Lives In 20 Years In 1972 a San Francisco bank starting making wireless transfers with a branch in Los Angeles. By the mid-80’s banking and other financial institutions were making Millions of dollars every year. Now we can transfer cash from almost anywhere in the world. We have internet sites, apps for our phones and in 20 years, we may be almost paperless. We may even have holographic 3D images as our personal bankerson or computers by then as well. The idea that we could become a totally digital financial society seems, well, almost unbelievable. In fact I’m not quite sold on the fact it could be myself. But according to Forbes Financial times “Ask anyone in the industry, even today’s incumbents, and the answer is the same: financial services are moving towards a digital future, one in which consumers will buy a much wider range of products and in which the costs of service will decline dramatically, allowing the 2.5 billion consumers worldwide who currently don’t have bank accounts to participate in the financial system. Much of that activity, moreover, will take place on rapidly proliferating mobile devices. ( big-bang-disruption-the-end-and-the-beginning-of-financial-services). A paperless society may exist in our future. Also, some banking institutions will suffer from this concept. Some will prevail. Any resistance to the fact that online banking and financial transactions as a primary source of virtual trade may be out...
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...America | Mobile Banking | | Ashlee BlairDaniel CareyStephanie FortnaBrandi Stricklin | 8/4/2011 | | Table of Contents * Introduction: Main Challenge ……………. 2 * Industry Description ……………………… 3 * Brand Analysis…………………………..... 8 * SWOT Analysis………………………….... 10 * Business Model …………………. ………. 13 * Digital Marketing ………………………… 16 * Suggested Solution ……………………….. 21 * Exhibits …………………………………… 23 * References ………………………………… 26 Introduction Bank of America launched mobile banking in May 2007. Mobile Banking lets customers easily and securely access balance information, pay bills with optional Bill Pay service, transfer funds, and find nearby ATMs and banking centers through a mobile application on their smartphones, and through mobile web on their phone browser. Main Challenge WHAT: Increasing overall growth in mobile banking in the financial services industry. Douglas Brown Senior Vice President of Mobile Product Development was quoted, “In less than 3 years we have four million mobile banking customers. That’s an adoption rate almost five to eight times that of our online banking several years ago.” Line-of-business managers are looking for leveraged mobile platforms to meet the needs of their specific businesses. The capabilities of mobile banking through the use of your smartphones or mobile web have become popular with today’s bank customers. WHO: * Jen McDonald, SVP of Bank of America (Digital Marketing Group) ...
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...America | Mobile Banking | | Ashlee BlairDaniel CareyStephanie FortnaBrandi Stricklin | 8/4/2011 | | Table of Contents * Introduction: Main Challenge ……………. 2 * Industry Description ……………………… 3 * Brand Analysis…………………………..... 8 * SWOT Analysis………………………….... 10 * Business Model …………………. ………. 13 * Digital Marketing ………………………… 16 * Suggested Solution ……………………….. 21 * Exhibits …………………………………… 23 * References ………………………………… 26 Introduction Bank of America launched mobile banking in May 2007. Mobile Banking lets customers easily and securely access balance information, pay bills with optional Bill Pay service, transfer funds, and find nearby ATMs and banking centers through a mobile application on their smartphones, and through mobile web on their phone browser. Main Challenge WHAT: Increasing overall growth in mobile banking in the financial services industry. Douglas Brown Senior Vice President of Mobile Product Development was quoted, “In less than 3 years we have four million mobile banking customers. That’s an adoption rate almost five to eight times that of our online banking several years ago.” Line-of-business managers are looking for leveraged mobile platforms to meet the needs of their specific businesses. The capabilities of mobile banking through the use of your smartphones or mobile web have become popular with today’s bank customers. WHO: * Jen McDonald, SVP of Bank of America (Digital Marketing Group) ...
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...DESIGN Bank of America Mobile Banking Ashlee Blair Daniel Carey Stephanie Fortna Brandi Stricklin 8/4/2011 Table of Contents Introduction: Main Challenge ……………. 2 Industry Description ……………………… 3 Brand Analysis…………………………..... 8 SWOT Analysis………………………….... 10 Business Model …………………. ………. 13 Digital Marketing ………………………… 16 Suggested Solution ……………………….. 21 Exhibits …………………………………… 23 References ………………………………… 26 Introduction Bank of America launched mobile banking in May 2007. Mobile Banking lets customers easily and securely access balance information, pay bills with optional Bill Pay service, transfer funds, and find nearby ATMs and banking centers through a mobile application on their smartphones, and through mobile web on their phone browser. Main Challenge WHAT: Increasing overall growth in mobile banking in the financial services industry. Douglas Brown Senior Vice President of Mobile Product Development was quoted, “In less than 3 years we have four million mobile banking customers. That’s an adoption rate almost five to eight times that of our online banking several years ago.” Line-of-business managers are looking for leveraged mobile platforms to meet the needs of their specific businesses. The capabilities of mobile banking through the use of your smartphones or mobile web have become popular with today’s bank customers. WHO: • Jen McDonald, SVP of Bank of America (Digital Marketing Group) • Douglas Brown...
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...Banks could lose 60% of retail profit to tech startups: study DAVID BERMAN BANKING REPORTER — The Globe and Mail Published Tuesday, Sep. 29, 2015 8:01PM EDT Last updated Wednesday, Sep. 30, 2015 9:22AM EDT Banks could lose up to 60 per cent of their retail profits to nimble fintech firms within the next decade, according to global consultancy McKinsey & Co., offering a particularly alarming outlook as new financial technology players nibble away at some of the more vulnerable areas of traditional banking. The consultancy said that altogether banks are producing profit of some $1-trillion (U.S.) globally, providing a powerful incentive for startups to grab even a thin slice of that business with cheaper or more convenient services. Given that the number of startups is now estimated at 12,000, these slices can add up to a major threat. “The changes to come over the next 10 years will be less visible than the global financial crisis or the bursting of the dot-com bubble – and yet their impact on banking’s economics and even fundamental business models will be much more substantial,” McKinsey said in its 2015 annual review of global banking, released on Wednesday. To quantify the threat, McKinsey looked at different business lines within traditional banks, and found that five retail lines were particularly vulnerable because many startups can improve the customer experience through appealing technology. Consumer finance – the banks’ core business of deposit taking and...
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... PNC Bank offers several international banking tools. These include international bank account numbers, also known as IBAN’s. This allows companies to transfer money internationally without hassle. They also offer something similar for Mexico alone, called Clave Bancaria Estandarizada, or CLABE and a service specifically for Canada called the Canada Express. Also included in international services are: Web-based foreign exchange, multi-currency accounts, cross-border electronic data interchange (EDI), international balance reporting, and SWIFT. PNC offers investment management, online banking, funds transfers, invoice automation, and special reports to name a few specifics. Generally, they offer payment and disbursement services, collection and deposit services, services regarding liquidity and investments, and information reporting. The most impressive feature of PNC Bank’s cash management services is the wide range of international services. Those were not noted in such a variety at any other bank (PNC, 2011). Susquehanna Bank offers collection services, concentration services, disbursement services, information reporting services, investment and loan services, and supporting services. More specifically services include but are not limited to remote deposits which allow deposit of checks without visiting a branch, lockbox services, money wiring, zero balance accounts, payroll, business check cards, and online banking. Lockbox services seem to be a very useful tool...
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...IBPS clerk interview best successful tips: all questions answered. Tweet Submitted by BeingHuman March 13, 2012 - 40 weeks 8 hours ago IBPS has been one of the most successful organizations in the recent months in giving the Indian job seekers a ray of hope to enter the banks. The public sector banks will be calling up nearly 1 lakh candidates for interview from the list of IBPS clerk passed candidates. The query for IBPS clerk interview pattern and techniques to crack them has been the major concern among the candidates in the recent reports. So, the most effective and best IBPS clerk interview success tips have been bunched up together in this article and presented before the candidates to get most out of the public sector and private sector bank clerical interviews in the coming months. This report has been made up by some of the successful candidates in PO and clerical interviews from the major banks. Lets get into the questions and their definite answers. Query on how should I present myself in front of the judging panel? Ans: You should be correct on time and keep an eye on your documents that they are properly stacked according to preference or not. It shows a disciplined character of the candidate towards the panel. Dress up in formals and keep hairs and nails neat and clean. When you are to enter the room, ask for permission in a calm yet confident tone. And ask if you can seat when you go in front of them, sit when they ask you to sit. Calmly be firm and straight...
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...congratulating the customer on his or her promotion together with an offer of a premium card and a higher credit limit. What business are banks in if they are not in the banking business? Put simply, retail banks are in the business of helping people, communities and enterprises achieve their financial goals. The public’s trust in banks as British institutions has plummeted over the last generation, with public opinion polls charting a sharp drop in respect for the banking industry since 2008’s financial crisis. This disengagement and erosion of trust has been exacerbated by a diminishing need for customers to visit branches and engage with bank staff directly as the use of online banking has increased. A PWC survey looking at banking in 2020 indicates a growing awareness, but a significant gap in preparedness. Sixty-one percent of bank executives say that a customer-centric business model is ‘very important’, and 75% of banks are making investments in this area (this pattern is consistent globally). Yet only 17% feel ‘very prepared’. What business are banks in if they are not in the banking business? Put simply, retail banks are in the business of helping people, communities and enterprises achieve their financial goals. In that sense, we could consider PayPal as a form of retail bank; its famous digital wallet now counts 110 million active users among which 2.6...
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...INTRODUCTION As described in the chapter 1, the banking industry around the world has been changing very rapidly since the early 1970s. The industry has experienced a substantial change in competitive conditions as a result of a number of factors. Therefore, what makes an excellence bank strategy? What strategy as it applies to banking? Is it because of new competitors entering the financial services market made new approaches to servicing corporate clients? There are a lot of questions comes into our mind but we will answer all the questions later. For your information, banks potray themselves as a “One Stop Financial Services Centre”. Banks no longer remain in their traditional service market because they are now more aggressive in providing a full menu of services that will cater for its customer’s needs. Therefore, what is the type of services that bank provide for their customers that make them satisfied with the speed efficiency and cost involved? Then, as described in the chapter 2, we can conclude that the main goal of any financial service organization is to create for itself a “sustainable competitive advantage” in the market place. So, in order to do this, it has to generate products, services or ideas that offer superior value for its customers that is not easily imitated by competitors. Financial services especially banks should used 4Ps which is price, product, place and promotion for their marketing tools for influencing customers. Therefore, in this assignment...
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...Chapter1 Introduction of The Report 1.0 Origin of the report: Every student of Bachelor of Business Administration (BBA) Program has to undergo a practical orientation (Internship) in any organization for fulfilling the requirements of program. In order to fulfill this requirement of the Internship program I have chosen National Bank Limited. The main purpose of the program is to know the real world situation. The tropic of my report is “Commercial Activities and Competitive Advantage Of National Bank Limited”. In this regard I have opportunity to make my internship in National Bank Limited (Progoti Soroni Branch). The National Bank Limited is a scheduled private commercial bank established on 23rd March, 1983. During this short span of time, the bank has been successful to position itself as a progressive and dynamic financial institution in the country. National bank was born as the first hundred percent Bangladeshi owned bank in Private sector. The then President of the People’s Republic of Bangladesh Justice Ahsanuddin Chowdhury inaugurated the bank formally on March 28, 1983. NBL was first domestic bank to establish agency arrangement with the world famous Western Union in order to facilitate quick and safe remittance of the valuable foreign exchanges earned by the expatriate Bangladeshi nationals. NBL was also the first among domestic banks to introduce Master Card in Bangladesh. Since the very beginning, the bank exerted much emphasis...
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...Administration New York University Working Paper Series CRIS #I41 GBA #86-109 Center for Digital Economy Research Stem School of Business IVorking Paper IS-86-109 IMPLEMENTING STRATEGIC INFORMATION SYSTEMS ABSTRACT This paper presents a framework for the implementation of strategic information systems. The framework draws on past research on implementation and takes into account the unique circumstances of strategic applications. The framework is illustrated with a case study of a money-center bank's cash management system based on a microcomputer. microcomputer provides a powerful front end to the bank's traditional transactions processing system for a corporate treasurer who is a client of the bank. The impact of the The system appears to be positive and the framework offers one model for viewing the implementation of strategic systems. INTRODUCTION A 1982 paper proposed a classification of information systems into three different categories: those which support the business, applications which support strategic planning and s y s t e m s w h i c h a r e a p a r t of a f i r m ' s Turner, 1982). s t r a t e g y (Lucas and This third type of system has received a Books and great deal of attention in the past five years. papers by Wiseman (1985), Parsons (1983), Ives and Learmonth (1984), McFarlan (1984) and Krcmar (1986) have all discussed Center for Digital Economy Research Stem School of Business IVorking Paper IS-86-109 -2- various aspects...
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...Christina Finau Ms. Shevon Matai English 151 31 March 2011 Digital Technology What is Digital Technology? Digital technologies are tools which utilize a discrete method to convey information, such as letters or numbers. Its alternative is analog which utilizes a continuous method to convey information “soyouwanna.com”. According to the 3rd edition of understanding technology pg.2, “Digital technologies permeate our daily lives”. High-definition televisions (HDTV’s) display amazingly clear and colorful images of sports events, reality TV shows, and other popular programs. Electronic coffeemakers, digital alarm clocks, and cell phones quicken and simplify daily routines. Automobile manufacturers use computerized robots to build cars and trucks. Those are just some examples of digital technology, but how does it affect our daily lives? Growing up in a Samoan cultural community, there were not that many technologies around. I mean, back then there was no electric stove. Men and women would prepare food in the umu “An umu is the traditional method used by Samoan’s for cooking food. A fire is built and stones placed on it. When the fire is down to the embers green bananas, breadfruit, taro, fish, and lu’au are placed on the stones. When everything to be cooked has been placed on the umu, it is covered with banana fronds and left to cook “samoasention”. It was really hard and difficult back then. Now technology has provided us with electric stove for baking and cooking. It has...
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