...Reinventing Retail Banking Series Evolving Models of Retail Banking Distribution Capitalizing on changes in channel usage Produced by the Deloitte Center for Banking Solutions Reinventing Retail Banking Generation Y Reinventing Retail Banking Series Consumer Trust Reinventing Retail Banking Series Catalysts for Change The Implications of Gen Y Consumers for Banks Building Consumer Trust in Retail Payments Laying a Solid Foundation Produced by the Deloitte Center for Banking Solutions Produced by the Deloitte Center for Banking Solutions The traditional retail bank is at an inflection point. The needs and expectations of customers are changing as quickly as the competitive landscape. Customers are demanding seamless, multi-channel sales and service experiences and not consistently receiving them. Simultaneously, other financial institutions and non-traditional players are looking for opportunities to invade this space or to redefine it through disruptive innovation. The result is forcing banks to examine a more balanced, integrated approach to the customer experience and growth. In this series, entitled Reinventing Retail Banking, the Deloitte Center for Banking Solutions looks at how banks must move beyond simply meeting their profit and growth goals to delivering more completely on the customer experience. Specifically, these articles will focus on: understanding customers needs; identifying emerging and profitable customer segments and strategies...
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...World retail Banking report 2012 Contents 3 4 7 Preface Key Findings Chapter 1: 8 12 21 Unlocking Pathways to Greater Customer Loyalty Customers Express Conflicting Sentiments toward Banks The Need for a Customer Experience Index The Growth of Mobile Banking 25 Chapter 2: At a Crossroads, Retail Banks Must Identify and Prioritize Core Strengths The Ground Beneath Banks Is Shifting Traditional Tactics Are Less Effective in the Current Environment The Way Forward: Extreme Measures for Extreme Times 26 28 32 40 41 Methodology About Us Preface Capgemini and Efma are pleased to present the 2012 World Retail Banking Report. Retail banks around the world are struggling to maintain their competitiveness in the face of severe external challenges. Massive debt loads are threatening the global economy, while stringent regulations put in place as a result of the financial crisis of 2008 are staunching traditional revenue streams. Customers, still distrustful of the industry, have become increasingly accepting of nonbank alternatives, and social media is giving them an opportunity to publicly explore them. More than ever, retail banks must strive to create stronger bonds with their customers. The 2012 World Retail Banking Report addresses this imperative by establishing a new framework for identifying and measuring success in retail banking. Specifically, our Customer Experience Index (CEI) offers a mechanism for accurately taking stock of the critical...
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...Mobile money An overview for global telecommunications operators Mobile money An overview for global telecommunications operators I About Ernst & Young’s Advisory Services Most businesses today are looking to solve two key challenges — improving business performance and reducing costs. This dual objective can deliver significant benefits and position your organization to emerge from the downturn with a stronger and more competitive profile. To help you meet these interconnected challenges and achieve your potential, we harness the diverse perspectives and experiences of our 18,000 advisory professionals — one of the broadest global advisory networks of any professional organization. We assemble seasoned multi-disciplinary teams to work with you to deliver a superior experience built on a consistent global methodology, a robust knowledge culture, and insights from our work around the world. We also understand that, to achieve your potential as an organization, you require services that respond to your specific issues, so we bring our broad sector experience and deep subject matter knowledge to bear in a proactive and objective way. It’s how Ernst & Young makes a difference. www.ey.com/advisory About Ernst & Young’s Global Telecommunications Center In a rapidly changing environment, telecommunications operators are facing the challenges of growth, operational efficiency, convergence, technology and increasing regulatory pressures. Ernst & Young’s Global Telecommunications...
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...Strategies And Business Models In The UK Irene Yousept, Feng Li University of Newcastle upon Tyne Business School, United Kingdom Irene.Yousept@ncl.ac.uk, Feng.Li@nc,.ac.uk Abstract The Internet has facilitated the emergence of new strategies and business models in several industries. In the UK, significant changes are happening in supermarket retailing with the introduction of online shopping, especially in terms of channel development and coordination, business scope redefinition, the development of fulfilment centre model and core processes, new ways of customer value creation, and online partnerships. In fact the role of online supermarket itself has undergone some significant changes in the last few years. Based on recent empirical evidence gathered in the UK, this paper will illustrate current developments in the strategies and business models of online supermarket retailing. The main evidence has been collected through an online survey of 6 online supermarkets and in-depth case studies of two leading players. Some of the tendencies are comparable to what happened in retail banking with the introduction of Internet banking, but other tendencies are unique to the supermarket retailing industry. This is a rapidly evolving area and further studies are clearly needed. 1 Introduction The Internet has facilitated the emergence of new business models in several industries. Previous research has revealed that the integrated models of retail banking have been challenged...
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...International Journal of u- and e- Service, Science and Technology Vol.6, No.6 (2013), pp.187-194 http://dx.doi.org/10.14257/ijunesst.2013.6.6.17 E-Commerce or Internet Marketing: A Business Review from Indian Context D. K. Gangeshwer Department of Mathematics, Bhilai Institute of Technology (BIT), Durg, (C.G), INDIA dgangeshwar@yahoo.co.in Abstract This paper deals the conceptual knowledge of search engine marketing (SEM) or ecommerce, literature review, current and future aspects of e-commerce in Indian context. This paper discussed about the top motivator factors of shopping online. The present development would be a valuable addition to researcher and academicians; and useful theory for practitioners, advertisers, and entrepreneurs. Keywords: SEM, Online Marketing or E-commerce, Pay-per-click (PPC) 1. Introduction Khan and Mahapatra (2009) remarked that technology plays a vital role in improving the quality of services provided by the business units. One of the technologies which really brought information revolution in the society is Internet Technology and is rightly regarded as the third wave of revolution after agricultural and industrial revolution. The cutting edge for business today is e-Commerce. The effects of e-commerce are already appearing in all areas of business, from customer service to new product design. It facilitates new types of information based business processes for reaching and interacting with customers like online advertising...
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...opportunities for foreign firms include supporting Asian investments and connecting with Asia and meeting the increasing consumer demand. Foreign firms can capitalize these opportunities by adding value to natural resources, developing networking industries and tourism and by developing-delivering better services. (2) Introduction: The Asian Opportunity for Kiwi Bank Kiwi bank Kiwi bank was established in 2002 and has been performing impressively over the years. Kiwibank is a wholly-owned subsidiary of New Zealand Post, which is a 100% state-owned enterprise. The low fee, low interest rate value oriented business model has helped it in increasing customer base and higher revenues. The range of services and products provided by Kiwi bank included credit cards, a nationwide ATM network, personal loans, business banking, internet banking, mobile phone banking services, insurance and wealth management. https://www.kiwibank.co.nz/about-us/investor-centre Entering the Asian market can make a kiwi firm more productive and resilient to changes. This can be achieved by building scale, developing their staff, IP and technological investments and diversifying their revenue streams. Kiwi Bank Success Factors To be successful in Asia New...
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...OFFICIAL ASSIGNMENT COVER SHEET | | |Student Name: |TEAM 2 [NK Jaketia, Yi Hui Lim, Radha Murugarajan, Omar Sharief] |Student Number: |NJ6801, | | | | | |YL5247, | | | | | |RM4712, | | | | | |OS5310 | | |Assignment Number: |FP |Title: |Dubai Islamic Bank | | |Professor’s Name: |Dr. Mark Esposito | | |Due Date: |14th Feb 2010 |Subject Code and Name: |MBA690- Strategic Management | | |DECLARATION OF ORIGINALITY OF WORK: | |I affirm that the attached work is entirely my own except where the words or ideas of other writers are specifically acknowledged through the use of inverted | |commas...
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...April - June 2014, Available at: www.paperpublications.org An Analysis of Indian Banking Industry with Special Reference to ICICI Bank Sana Samreen Abstract: The last decade has seen many positive developments in the Indian banking sector. The policy makers, which comprise the Reserve Bank of India (RBI), Ministry of Finance and related government and financial sector regulatory entities, have made several notable efforts to improve regulation in the sector. The sector now compares favorably with banking sectors in the region on metrics like growth, profitability and non-performing assets (NPAs). However, improved regulations, innovation, growth and value creation in the sector remains limited to a small part of it. The cost of banking intermediation in India is higher and bank penetration is far lower than in other markets. India’s banking industry needs to strengthen itself significantly In this paper, I have mainly focused on the overall analysis of the banking industry through framework like Porter’s five forces model. I have also concentrated upon the various developments being done in the industry along with recognizing the upcoming challenges as well as the opportunities to reap the profits even in troubled waters. Keywords: Indian banking industry, Porters five force model, market regulation. I. Introduction The Indian banking industry, which is governed by the Banking Regulation Act of India, 1949 can be broadly classified into two major categories...
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...and external environments.[1] It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. Strategic decision-making is done through process of strategic management. PROCESS OF STRATEGIC MANAGEMENT: PROCESS: * Establishing the hierarchy of strategic intent: * Creating and communicating a vision. * Designing a mission statement * Defining the business * Adopting the business model * Setting objectives. * Formulating of strategies * Performing environmental appraisal * Doing organizational appraisal * Formulating corporate level strategies * Formulating business level strategies * Undertaking strategic analysis * Exercising strategic choice * Preparing strategic plan * Implementation of strategies * Activating strategies * Designing the structure, system and processes * Managing behavioral implementation * Managing functional implementation * Operationalizing strategies. * Performing strategic evaluation process: * Performing strategic evaluation * Exercising strategic control * Reformulating strategies. STRATEGIC INTENT The framework...
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...Retail Banking - Opportunities and Challenges Shyamala Gopinath* The issue of retail banking is extremely important and topical. Across the globe, retail lending has been a spectacular innovation in the commercial banking sector in recent years. The growth of retail lending, especially, in emerging economies, is attributable to the rapid advances in information technology, the evolving macroeconomic environment, financial market reform, and several micro-level demand and supply side factors. India too experienced a surge in retail banking. There are various pointers towards this. Retail loan is estimated to have accounted for nearly one-fifth of all bank credit. Housing sector is experiencing a boom in its credit. The retail loan market has decisively got transformed from a sellers’ market to a buyers’ market. Gone are the days where getting a retail loan was somewhat cumbersome. All these emphasise the momentum that retail banking is experiencing in the Indian economy in recent years. What is Retail Banking? Retail banking is, however, quite broad in nature - it refers to the dealing of commercial banks with individual customers, both on liabilities and assets sides of the balance sheet. Fixed, current / savings accounts on the liabilities side; and mortgages, loans (e.g., personal, housing, auto, and educational) on the assets side, are the more important of the products offered by banks. Related ancillary services include credit...
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...5 6 7 8 9 30 1 2 3 4 5 6 7 8 9 40 1 2 3 4 5 6 711 8 327 Motivators and critical factors in mobile banking communications: the case of Kuwait Alkis Thrassou* Marketing Department, School of Business, University of Nicosia, Cyprus, 46 Makedonitissas Avenue, P.O. Box 24005, 1703 Nicosia, Cyprus Email: thrassou.a@unic.ac.cy *Corresponding author Lijo Raju Philip 13A, Tzarevo Selo Street, Floor 2, ap.4, Krasno Selo, Sofia, Bulgaria Email: lijophilip@gmail.com Abstract: With the effort in gaining competitive advantage shifting towards non-price factors, new forms of communications and distribution channels are invaluable outlets for financial institutions, since they provide the opportunity for cutting costs without diminishing existing service levels. As customers are demanding greater convenience and accessibility, many banks are eyeing cost-effective alternative service delivery systems. Mobile banking, a relatively new phenomenon, helps customers to interact with a bank via a mobile device and makes banking virtually anywhere on a real-time basis a reality. The aim of this research is to investigate the mobile banking competitive environment of Kuwait, to identify the motivators underlying mobile banking adoption by banks, and to isolate the corresponding critical factors of success. The findings are finally integrated into a comprehensive ‘motivators and critical factors’ model. The methodology used was predominantly based on secondary data, reinforced with primary data. The...
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...SERVICES Optimizing banking operating models From strategy to implementation September 2012 kpmg.com KPMG INTERNATIONAL Contents Executive summary The challenges facing the banking sector Regulations and regulators Economic environment Changing customers The march of technology 3 3 3 1 2 2 How will these changes affect the universal banking operating model? The end of universal banking Disintegration of the value chain Cost efficiency is key in developing new operating models New IT architectures are essential 6 6 5 4 4 What banks need to do Seizing this once-in-a-life-time transformation opportunity Developing an innovative operating model to overcome loss of scale and cost issues Implementing long-term sustainable cost reduction measures Implementing an iterative and collaborative approach to a complex, multi-faceted problem 10 11 9 8 8 Making it to the finish line 13 © 2012 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. All rights reserved. Optimizing banking operating models | 1 Executive summary A s the world emerges from what has been described as the greatest crisis in the history of finance capitalism, banks must adapt to radical new regulations, technologies, customer expectations and economic environments. The current universal bank operating model is bordering on...
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...struggles to move out of the shadows cast by the challenges and uncertainties of the last few years, the strong fundamentals of the industry augur well for a roadmap to be drawn for sustainable long-term growth. The available headroom for development, sustainable external growth drivers, and competitive strategies would continue to drive growth in the gross written premiums. However, insurance companies would need to address the key concern around losses that continue to be a drag on the capital and on the shareholders’ return expectations. In order to achieve profitable growth for long term sustainability, insurers have two key imperatives. Firstly, they would need to conserve capital and optimize the existing resource deployment and distribution networks. Secondly,...
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...Africa’s path to growth: Sector by sector The continent’s growth story isn’t entirely about the extractive industries. Seven articles examine the future of a wide range of sectors. Although Africa’s growth prospects are bright, they differ not only country by country but also sector by sector. In these articles, we examine the possibilities for seven of them: agriculture, banking, consumer goods, infrastructure, mining, oil and gas, and telecommunications. Perhaps the most fundamental point is that Africa’s growth story is hardly limited to the extractive industries. As many as 200 million Africans will enter the consumer goods market by 2015. Banking and telecommunications are growing rapidly too, and infrastructure expenditures are rising significantly faster in Africa than in the world as a whole. Not that the growth of the extractive industries won’t be impressive. The continent has more than one-quarter of the world’s arable land. Eleven of its countries rank among the top ten sources for at least one major mineral. Africa will produce 13 percent of global oil by 2015, up from 9 percent in 1998. For many companies, this is a future worth investing in. 2 Africa’s path to growth: Sector by sector Agriculture: Abundant opportunities Kartik Jayaram, Jens Riese, and Sunil Sanghvi Agriculture is Africa’s largest economic sector, representing 15 percent of the continent’s total GDP, or more than $100 billion annually. It is highly concentrated, with Egypt and Nigeria...
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...Indian Banking – The engine for sustaining India’s growth agenda 5th ICC Banking Summit Kolkata 18 May 2013 Foreword Over the past couple of years, the Indian banking sector has displayed a high level of resilience in the face of high domestic inflation, rupee depreciation and fiscal uncertainty in the US and Europe. In order to stimulate the economy and support growth of the banking sector, the Reserve Bank of India (RBI) adopted several policy measures. © 2013 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Asset quality, capital adequacy, financial inclusion and talent management are some of the key issues facing the Indian banking industry, which despite serving the second largest populated country in the world with a total of 87 banks (including 26 public sector banks, 20 private banks and 41 foreign banks), as per the RBI, reaches out to only about half of the country’s households, scripting a nominal global footprint. The rising consumerism from the emerging ‘middle’ India and the higher purchasing power in rural India on account of rising employment provides opportunities for banks to look beyond the traditional customer segments. However, these segments would require flexible operating models which would ensure responsiveness at the last mile and at the same time be viable for the banks. On...
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