Impact of Operational Risk in Banking

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UNIVERSITY OF SOUTH CENTRAL, LOS ANGELES UNITED OF AMERICA STUDENT NAME: BENJAMIN AGYAPONG-SARQUAH STUDENT ID NUMBER: 7250653 PROGRAM OF STUDY: BACHELOR OF ART BUSINESS STUDIES COURSE OF STUDY: RESEARCH PURPOSE OF RESEARCH: PROJECT RESEARCH AREA OF RESEARCH: THE IMPACT OF OPERATION OF RISK IN BANKING ASSIGNMENT: SUBMISSION OF PROJECT WORK CHAPTER ONE CHAPTER TWO LITERATURE REVIEW Introduction This chapter reviews relevant literature on Standard Chartered Bank Ghana Limited, the Ghanaian Banking Industry, Regulation and Basel II, and Operation Risk Management (ORM). Standard Chartered Bank Ghana Limited Standard Chartered Bank Ghana Limited (SCBGL) is a 65% owned subsidiary of Standard…show more content…
Retail segment of banking has brought products and services closer to customers at school campuses, hospitals, shopping malls, and petrol stations. Service payment of utilities, payment of mobile phone unit transfers, payment of insurance fees and money transfers have characterised retail service delivery in the industry. Other electronic transactions such as e-cards, e-statements, credit cards, debit cards and visa cards have been widely introduced into commercial banking service delivery. Competition is forcing the banks to dialogue and consider sharing service delivery platforms as a way of reducing cost and delivering more value to customers. EZI Cash is a common automated teller machine (ATM) platform shared by Ecobank, SCBGL and SG-SSB. The EZI Cash can be found at Shell filling stations and Nandos Food Courts. Some banks have also developed off site ATMs that can be found at petrol filling stations, hospitals, stadia and some market centers. This collaboration has moved some of these banks to higher level of total networking and service delivery irrespective of where the customer banks. Increased competition and customer sophistication has also forced banks to pay attention to client needs through improved customer service and the introduction of products that meet the needs of customers. As such, banks are tailoring products to better suit the needs of retail and corporate clients. Some of the new products include mortgage
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