A Report On Westpac Bank Essay

One of the main issues that customers faced when visiting a branch, was the unavailability of their service provider. Managers wanted to close this gap in service design by providing individualized services to their customers to understand their needs and build interpersonal relationships with them. The best way to achieve that was by assigning an account team to each customer. The team consisted of bankers who worked closely with the customer to figure out their needs and offer them solutions. This initiative have also managed to close the listening gap-1 which increased the customers’ satisfaction level.

As a staff analyst, I think that there are many alternatives present which can save the Bank from a huge loss. Actually in this dispute I feel that Bank is right because they made it clear in the purchase order that the machines needs to be shipped through Yellow Freight and also paid the invoice before time as per their custom. But still the carrier was changed by Data Max without asking or informing the bank.

Before the advent of the Federal Deposit Insurance Corporation (FDIC) in 1933 and the general conception of government safety nets, the United States banking industry was quite different than it is today. Depositors assumed substantial default risk and even the slightest changes in consumer confidence could result in complete turmoil within the banking world. In addition, bank managers had almost complete discretion over operations. However, today the financial system is among the most heavily government- regulated sectors of the U.S. economy. This drastic change in public policy resulted directly from the industry’s numerous pre-regulatory failures and major disruptions that produced severe economic and social

In response to APRA’s restrictions on lending, Westpac Group has announced a series of changes on their mortgage serviceability criteria for Westpac as well as its other brands St. George, Bank of Melbourne and BankSA. Serviceability of loans will now be calculated on a 20-year term (down from 30 years). Tax deductions on rental interest will now be calculated using an annual percentage rate and there will be increased scrutiny on tax deductions relating to mortgages held outside of the bank, with a closer examination of relevant documents such as bank statements and loan contracts. Furthermore, Westpac will also require the annual interest rate and the remainder of interest-only terms to be captured on all relevant mortgages in their back

The information in the annual report has been prepared and presented to investors not only accordance with the Australian Accounting Standards (AASB) but also comply with International Financial Reporting Standards (IFRS). Westpac Banking Corporation today announces that we have a high quality and well performing due to accounting policy we used for our significant accounts. Key highlights of two accounts delivering high quality of information are:

The Bank of the United States is a symbol of the long held American fear of centralization and government control. The bank was an attempt to bring some stability and control and was successful at doing this. However, both times the bank was chartered, forces within the economy ultimately destroyed it. The fear of centralization and control was ultimately detrimental to the U.S. economy.

Commonwealth Bank has become one of biggest bank of Australia; one of the reasons is ERP implementation. The ERP system helps the financial institution to communicate worldwide, talking about its various management department, for them it’s really effective. Such as using customer relation management software it helps in keeping the records of consumers in data warehouse, which can be used at the time when information needed by the bank. For Human resource management it provides 24/7 hours services to customers and also helping employees due to real time processing. Financial resource management, it gives the relevant data of clients like whether this consumer has positive records or not and provides credit on the basis of their history. Manufacturing resource planning, ERP supports the firm to know about happenings during production process. Supply chain management, to select the best suppliers for the cards, the bank needs Enterprise resource planning. However this software got some weaknesses like it may be expensive and chances of security issues are always.

Westpac business strategy looks to convey on this vision by giving better returns than our shareholders, building profound and continuing client connections, being a pioneer in the group and making a situation where the best people need to work – and where people with disability are invited (Strategic theme,

CenTrust, first called Dade Federal Savings and Loan, was founded in 1934 during the Great Depression and eventually became a stalwart of the South Florida business establishment. By the early 1980s, Miami had a corporate community that any city would envy. The companies were large and growing. They contributed mightily to local causes. They virtually invented a skyline where none existed as late as the early 1980s. CenTrust Bank and David Paul gave huge sums of money and much effort toward founding the New World Symphony in the 1980s. But the local corporate world was shaken badly at that time. In South Florida, home of fragile physical, social and economic climates, big business became an endangered species.

Century National Bank has offices in several cities in the Midwest and the southeastern part of the United States. Mr. Dan Selig, president and CEO, would like to know the characteristics of his checking account customer. To better understand the customers, Mr. Selig asked Ms. Wendy Lamberg, director of planning, to select a sample of customers and prepare a report. To begin, she has appointed a team from her staff and the team has selected a random sample of 60 customers. All the information gathered is tabulated in the table below:

Question 1: Compare and contrast the strategic service vision of United Commercial Bank and El Banco.

Bank of America is a banking and financial service industry located in Charlotte, North Carolina. If you would like to access the internet address for Bank of America, then you can click on this link provided https://www.bankofamerica.com . Its primary SIC Code is 6021 – National Commercial Banks, and its primary NAICS Code is 522110 – Commercial Banking. The Bank of American provides many goods and services for its customers such as banking, credit cards, loans, and investments. Every day Bank of America is competing against many competitors but JPMorgan Chase and Wells Fargo are some of the largest. Bank of America’s stock exchange ticker symbol is NYSE: BAC. The external auditor is PricewaterhouseCoopers LLP in Charlotte, North Carolina.

| The form of organization for a business is not an important issue, as this decision has very little effect on the income and wealth of the firm's owners.

In a highly competitive environment, such as the banking industry, it is very important to ensure that customers’ needs and wants are being fulfilled and that the customer is satisfied overall. The banking industry provides many different options for customers with the same types of products. The level of satisfaction perceived by the customer can affect the overall impression of the organization based on the employee’s service

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