...INTERNSHIP REPORT ON Retail Banking Activities of City Bank Ltd Gulshan Branch of the year 2009, Dhaka 1 INTERNSHIP REPORT ON Retail Banking Activities of City Bank Ltd Submitted to: Syeda Shaharbanu Shahbazi Ahmed Senior lecturer, BRAC Business School BRAC University, Dhaka Submitted by: Md.Mozahidul Islam ID: 05304077 Date of submission: 20th December, 2009 2 Letter of Transmittal December 20, 2009 Syeda Shaharbanu Shahbazi Ahmed Senior Lecturer BRAC Business School BRAC University, Dhaka Dear Madam, I am glad to submit my report on the topic as you have assigned me to prepare an internship report on retail banking activities of City Bank limited of Gulshan Branch as a partial requirement of the course Bus 400. Now I am looking forward for your kind appraisal regarding internship report. You would be glad to hear that I have given my best effort to prepare the report with relevant information that I have collected from City Bank Limited, Gulshan Branch and from other relevant sources during my internship program. I have the great pleasure to have the opportunity to study on “retail banking activities” of City Bank Ltd. It is meaningful to mention that the knowledge I have gathered during the internship period, will help me in practical field of professions. In spite of various inadequacies I have tried to cover all the relevant affairs. It is quite worthy to mention that without your kind hearted guidance and cooperation it would not be possible for...
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...inesquecíveis, coisas inexplicáveis e pessoas incomparáveis" como vocês! Obrigado por tudo, Filipe Abstract The Retail Banking Industry has been severely affected by fraud over the past few years. Indeed, despite all the research and systems available, fraudsters have been able to outsmart and deceive the banks and their customers. With this in mind, we intend to introduce a novel and multi-purpose technology known as Stream Computing, as the basis for a Fraud Detection solution. Indeed, we believe that this architecture will stimulate research, and more importantly organizations, to invest in Analytics and Statistical Fraud-Scoring to be used in conjunction with the already in-place preventive techniques. Therefore, in this research we explore different strategies to build a Streambased Fraud Detection solution, using advanced Data Mining Algorithms and Statistical Analysis, and show how they lead to increased accuracy in the detection of fraud by at least 78% in our reference dataset. We also discuss how a combination of these strategies can be embedded in a Stream-based application to detect fraud in real-time. From this perspective, our experiments lead to an average processing time of 111,702ms per transaction, while strategies to further improve the performance are discussed. Keywords: Fraud Detection, Stream Computing, Real-Time Analysis, Fraud, Data Mining, Retail Banking Industry, Data Preprocessing, Data Classification, Behavior-based Models, Supervised Analysis, Semi-supervised...
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...Understanding customer behavior in retail banking The impact of the credit crisis across Europe February 2010 Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Executive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Key findings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 The impact on trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Loyalty: the end of an era? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Reasons customers look elsewhere Measuring satisfaction Conclusion 8 How Ernst & Young can help . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Contacts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Introduction ...
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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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...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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...BANKING IN INDIA Banking in India originated in the first decade of 18th century. The first banks were, The General Bank of India, which started in 1786, and Bank of Hindustan, both of which are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the "The Bank of Bengal" in Calcutta in June 1806. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras. The presidency banks were established under charters from the British East India Company. They merged in 1925 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India. For many years the Presidency banks acted as quasi-central banks, as did their successors. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935. After India's independence in 1947, the Reserve Bank was nationalized and given broader powers. Early history The first fully Indian owned bank was the Allahabad Bank, established in 1865. However, at the end of late-18th century, there were hardly any banks in India in the modern sense of the term. The American Civil War stopped the supply of cotton to Lancashire from the Confederate States. Promoters opened banks to finance trading in Indian cotton. With large exposure to speculative ventures, most of the banks opened in India during that period failed. The depositors lost money and lost interest in keeping deposits...
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...Inclusive retail banking – providing banking services including credit to financially excluded. It is both an opportunity as well as a challenge for the banking system. Three Phases of Financial Inclusion - Social banking, SHG and KCC and Focus on savings and No-frills accounts Financial inclusion may be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost Financial inclusion is a pre-requisite for inclusive growth Financial counselling provides information, support and advocacy to assist people in financial difficulty. Credit counseling offers a viable task-specific, advisory ad hoc mechanism between the borrower and the bank Ex ante credit counseling - ex ante counseling is known to lower the probability of default and relatively easy recovery * basically in the nature of financial counseling or education - product, purpose and process * Growth high low Synergies high Joint Venture between Bank and Insurer Merger between Bank and Insurance Co Distribution Alliance Build or Buy own Insurance or Banking Company quantum of loans individuals can borrow based on the cash flows * cost of borrowing, cost of misuse and recovery procedures are informed to the borrower Ex post counseling occurs - advisory in nature for managing the crisis and exploring various avenues for relief in the interim ...
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... Introduction Over the last years, there has been a debate on whether commercial and investment banks should be separated or not. Especially after the crisis in 2007 when taxpayers had to pay billion in the US to bail out the banks, the need for a “ring fence” around retail banking operations became urgent. Universal banks use the retail deposit for their investment operations which engage great risks. When their investments fail, the states have to rescue them. These mega banks emerged after the Great Depression when such a mergence became possible mainly because of the deregulation of western financial services. However, if global capital markets agree in a ring fence or total separation, it is a procedure that will take place over a period of years. In this project a brief review of the debate that takes place around this matter will be presented, mainly by stating some of the ideas that are commonly discussed. The Glass-Steagall Act and how we got here Recently President Obama proposed the separation of investment and retail banks, as it is believed that they were the main reason of the last financial crisis that started in 2007. Avgouleas (2010) points out that the mega banks were created after 1990’s due to the deregulation of the financial industry and they engaged great risk in their investment activities as the deposits (that were used for these purposes) were guaranteed by the government. Benston, G.J. (1994) points out that these mega banks became so large,...
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...Abstract The retail banking industry in the United States has undergone intense change due to regulation since 2008. Retail banks are continually looking for ways to set themselves apart from their competition, as well as retain and grow their customer base. Banks now understand the value of building relationships with their customers and that they need to provide excellent customer service to them as a means of profitability and survival. Understanding the factors behind customer service and its effect on customer loyalty is an important issue for the retail banking industry. This brings up the question “Does customer service influence customer loyalty?” With that question in mind, the following review acknowledges the importance of customer service to customer loyalty and also looks at what factors influence loyalty. The examination takes a look at service and its quality, and the overall effect it has on customer satisfaction and customer loyalty. The findings conclude a direct association among customer service, service quality, customer satisfaction and consumer bank loyalty. Introduction It is generally agreed that the top 3 constructs of building loyalty are: customer service, service quality, and customer satisfaction. This is especially true in people centric service businesses such as retail banking. In today’s competitive business environment many banks are focusing their efforts on having a loyal customer base. Thus, the question arises, “Does customer...
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...ANZ Vietnam Internship Report ANZ Vietnam Internship Report Internship Report Synopsis Name | Nguyen Tran Tuan Chau | ID | 03001011011003 | Program | Bachelor of International Management | University | Banking University Ho Chi Minh City | Duration | April 2nd – July 1st, 2014 | Advisor | Hoang Van Chien | Supervisor | Nguyen Huynh Phuoc An, Manager of Credit Assessment Nguyen Xuan Phuong, Assistant Manager of Credit Assessment | Type of Internship | Credit - Finance and Banking | Institution name | Australia and New Zealand Banking Group Limited (ANZ) | TABLE OF CONTENTS Acknowledgement 4 Executive Summary 5 Chapter I: Company Profile A. ANZ Global 1. Overview 6 2. Achievements 6 B. ANZ Vietnam 1. Location in Ho Chi Minh City 8 2. Local Network 9 3. Website 9 4. History Background 9 5. Key Milestones 10 6. Shareholders 11 7. Achievements 11 8. Strategy: Blueprint for Success 13 9. Products and Services 9.1. Institutional – Commercial Banking 14 a. Institutional Banking 14 b. Commercial Banking 15 9.2. Retail Banking 15 10. Customers 17 11. Organizational Chart 17 12. ANZ Share Priorities 2014 18 Chapter II: Working Diaries 1. Internship Activities 19 2. Activities and the Role of Credit Assessment to ANZ 20 3. Performance of Credit Assessment – Personal Loan 21 Chapter III: Conclusion 1. Assessment of the Internship 22 ...
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...Is it necessary to combine Investment Banking and Commercial Banking? Separation of Retail Banking and Investment Banking was a hot topic with President Obama’s proposal in January 2010 regarding a ban on US Banks on retail banks from using their own funds in investments and limiting to invest their customer’s funds. This news made many to wonder whether the world is going back to replace Glass Steagall Act which was abolished in 1999.(BBC,21January2010) Glass-Steagall Act(GSA)commonly known as Banking Act 1933 made the investment banks and Commercial Banks to function separately in order to refrain Commercial Banks from greater in securities business activities. This Act prohibited Commercial Banks to underwrite securities to public while it prohibited Investment Banks to accept deposits from customers. (Investopedia,2003). Many argue that commercial banks should not involve in securities(stock/bond)market investments as commercial banks divert funds in investment banking. In other words internal transparency of movements of funds not very clear when operating as a ‘Universal Bank’. Prior to 2007-2009 financial crisis Commercial Banks were greedily involved merely because of profits in securitization business where subprime mortgages were involved. During the rise in property market in 2006,banks created and traded in securitized assets, backed by subprime mortgages. Banks became greedy of making more money through SPV(Special Purpose Vehicle)taking high risks. When...
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...Problem Statement Bank of America is struggling to position their mobile banking service in the continuously changing industry. The bank already has a mobile application but is evaluating if they should add more features to this app and how this will affect their clients. Situation Analysis Company • Bank of America is the largest U.S. bank holding company; it was founded in 1904 and expanded with several acquisitions. • By the end of 2009 BoA was the leader in the market, serving 82% of the US population (over 53 M customers) and positioned number one in online and mobile banking. • Very strong and best-managed banks before the crisis which brought losses and a very strong drop in stock price. • Mobile banking was launched in 2007 and in less than 3 years they have 4 million customers using the service. Customers • Chose their bank based on low account minimums, competitive rates and convenient locations. • In 2009 10 million consumers used mobile banking and this was expected to grow to 37 million by 2014. • Customers willing to use mobile banking are not the same as online users. • Security issues, low value and cost of data access were the primary reasons why customers would not use mobile banking. • Debit card holders were the most active users because of the convenience of checking their account balances at any time. • They are reluctant to try a new banking service if it represented an extra cost and were also afraid of losing control of their finances...
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...Mountain Bank 1. Discuss the strategies that Mountain Bank should implement to achieve a competitive advantage in the marketplace. Changes are occurring in all organizations. Mountain Bank is no exception. Mountain Bank has a strong presence in retail banking and limited presence in the consumer lending, real estate and mortgage banking, and corporate banking lines. It is recognized that corporate banking is profitable. Since Mountain Bank has such a small presence in the corporate banking market, it has to position itself to communicate this business line to a new audience. To achieve a competitive advantage in the marketplace, Mountain Bank should implement the differentiation strategy. Mountain Bank will set itself apart from its competitors by offering a unique twist to its services. It may offer an added benefit to its customers who are already receiving the basic services. The employees at Mountain Bank hold the key to achieving the competitive edge. Mountain Bank’s employees would hold an advantage over their competitors as they tend to be cordial and highly skilled which makes customers feel trusting. A personal greeting such as “Good morning, Mr./Mrs. Jones” from the bank employees when customers enter for services would be a tremendous plus for the bank. Along with that greeting, employees would make the customers aware of the availability of the new services that the bank now offers and they are not yet taking advantage of. 2. Describe the types of practices...
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...should follow this strategy because few organizations can successfully use the cost leadership strategy. One problem with a cost leadership strategy is usually only one organization can be the lowest-cost provider in any industry. The organization that is often successful at the cost leadership strategy is an organization that has a large share of the market (p. 48). Mountain Bank does not have a large share of the banking market. Mountain Bank is located in the northwest United States. According to current estimates Mountain Bank has about fifty percent of the market for retail banking, about twenty-five percent of consumer lending market, less than ten percent of the real estate and mortgage banking market, and less than five percent of the corporate banking market in its area (p. 69). ii. Another reason that Mountain Bank should follow this strategy is one of the best methods for achieving gains in the real estate banking and corporate banking is cross-selling. Cross-selling occurs when tellers and customer service representatives convince customers with retail accounts to open corporate accounts or to obtain home mortgages from Mountain Bank. Recent studies have found that bank tellers are critical to the success of Mountain Bank. One study found that customers’ experience with tellers is the single most important driver of customer satisfaction (p. 69). Mountain Bank should focus their area of differentiation on providing excellent customer service. They should emphasizing...
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...Role of management It refers to specific categories of managerial behavior. * Interpersonal roles * Informational roles * Decisional roles Interpersonal roles Figure Head: In figure head role manager performs activities which are ceremonial and symbolic nature. These include greeting the visitors attending the social functions involving employees, handing out merit certificates and other awards to outstanding employees. Leader: Manager’s leader role involves leading his subordinates and motivating them for willing contributions. Manager is responsible for activities of his subordinates. He has to set example of hard work and dedication so that subordinate follow his directions with respect. Liaison Role: In liaison role manager serves as a connecting link between his and outsiders or between his unit and other organizational units. Andrew Hagger Group Executive - People, Marketing and Communications Michaela Healey Group Executive - People, Communications and Governance Informational roles Monitor: In monitoring role manager collects the information which can affect the organizational activities by reading magazines and periodicals, reports from the departments, talking with others to learn changes in the public’s taste. Disseminator: In disseminator role manger distribute the information to his subordinates and superiors by sending circulars, holding meetings and making phone calls. Spokesperson: In spokesperson role the manager represents his organization...
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