Advantages Of Hatton National Bank

Banking industry is highly competitive as there is high exit barrier. Moreover, competitors are large and quite equally balanced. Additionally, as banking industry has emerged for hundred years, just about everyone who needs banking services already has them.

A very important part of any successful bank is to provide help and support to their customer whenever and wherever they are to require it, and so to be able to provide an award winning customer services would create a better experience to the customer, and consequently creating ripple effect, first by creating a satisfied customer, to which ensures to increase a customer 's chance to increase his/her business with the bank and therefore increasing the the organization revenue, and also to increase the institution net promoter score, to which the bank service have provided both a happy customer, and also a promoter of the bank which helps it to attain and acquire new customers due to current customer appraisal of the bank which lead to the new relations created by the bank.

One of the areas in FBN Plc that was identified for change was the customer service. The bank was known for poor customer service. The average time a customer walks into the bank, either to withdraw money, deposit money or perform any other banking transaction, was an estimated 2 hours or more. Most of the new banks were having an average of 15 minutes to 20 minutes to attend to a customer. No wonder FBN Plc was losing its

As part of Barclays customers are more valuable assets, as one of the goal for Barclays is that they want to be the ‘Go-to’ bank for customers and client within the next five years, this is done by having a sustain forward momentum. Furthermore, having an essential banking service that customer need across the sector, region and around the

The banking sector is faced with increasing challenges as the modern day society evolves. In the aftermath of the economic crisis, the population came to become more demanding of the banking sector. In other words, the various categories of stakeholders such as customers, employees, business partners, the public and so on became more vocal and forwarded more demands. The new challenges of the banking sector refer to the operation in a means in which they create benefits for the overall wellbeing of the communities in which they operate.

In the field of IT, new technology is coming every day. The one which is very popular today might get obsolete tomorrow. So to have a competitive edge over the competitors the banks must always update their services.

Banking being the one of the largest and most predominant financial service industry of the world depends on their service supply chain to acquire their equity. In one sense, the whole banking industry is a financial service industry. In order to effectively retain the valuable consumers the financial service industry should look inside their operation to find out the obstacles to their services and to resolve them in a timely and systematic manner.

The banking industry has experienced the rapid development during last decade. The development of banking industry can be seen from the large number of bank mergers and the increasing of average size of banks and the area over which they operate. However, the banking is passing through a period of substantial structural change under the combined and inter-related pressures of eight key areas in banking industry:

Globally information Technology is recognized as a key element in financial development in many countries around the world over past decade. Various advancements have taken place in the banking sector in the point of information technology in a most striking approach. Thus banks have come up with most rapidly changing strategies with high merger rate. Under these circumstances banks considered traditional management approaches is not sufficient. With introduction of information technology in banking sector rapid changes shown up includes opening account, mandate customer account and recording transaction process.

Today’s banking system very much gives us the hint about the banking system say 20 to 25 years from now. Digitization promises to automate and improve many banking processes. Yet it’s not without peril: customer demands and expectations are increasing, and technology is fuelling the emergence of significant new competitors. (www.mckinsey.com) Banking Transitions- Branch banks have historically been the front line of the customer relationship.

E-banking is the term used for new age banking system. E-banking is also called online banking and it is an outgrowth of PC banking. E-banking uses the internet as the delivery channel by which to conduct banking activity, for example, transferring funds, paying bills, viewing checking and savings account balances, paying mortgages and purchasing financial instruments and certificates of deposits (Mohammed, et. a.l, 2009). It is difficult to infer whether the internet tool has been applied for convenience of bankers or for the customers’ convenience. But ultimately it contributes in increasing the efficiency of the banking operation as well providing more convenience to customers. Without even interacting with the bankers, customers transact from one corner of the country to another corner. Electronic banking has experienced explosive growth and has transformed traditional practices in banking (Gonzalez, 2008). As per prediction of Maholtra and Singh, (2007) the e- banking is leading to a paradigm shift in marketing practices resulting in high performance in the banking industry. Delivery of service in banking can be provided efficiently only when the background operations are efficient. An efficient background operation can be conducted only when it is integrated by an electronic system. The components like

The banking industry of the 21st century operates in a complex and competitive environment characterized by these changing

For a bank to have the highest market share among other banks rendering identical services, there is a need for such bank to combine and blend the main factors (bank objectives, banks environmental (or non controllable) variables, the controllable (or management) variables, and bank’s organization and control variables) together into an overall strategy the customers.

Value Added Services have been a key differentiating factor for the banks. Banks have introduced services such as Mobile banking, Internet banking, bill paying facility etc in an attempt to lure customers

Corporate Banking business envelops a broad range of businesses and industries. Customers can leverage on its know-how in the following sectors mainly: