Information Regarding Commercial Real Estate Transactions And Loans

At Bank of America we are looking to deliver what the customer wants. We believe that there are five pillars. They are easy to use, clear, and straight forward banking, friendly and knowledgeable associates in the community, reliable products and services, security and accessibility. These tools will help our customers feel in control of their financial decisions. To make sure that this commitment is communicated we will market through mass media, associates, print ads, and radio. We have also switched the way we will target the customers. The customer will fall into three segments. They are Mass Market, Mass Affluent, and Small business. This will assure that we are delivering the

With the smallest footprint of their three biggest competitors, the bank chose to differentiate their services based on mobile banking channels. These channels were more cost effective for both the bank and the customer which fit well with the bank’s philosophy of being the cheapest bank in South Africa and offered the opportunity for more margin absorption if they could change the customer’s behaviour towards these channels. By consequence, the choice to differentiate on mobile channels required competencies that relate to technology. Both of these choices required innovation; to make switching less cumbersome, exploitation of existing processes and technology was required, and to enhance their value proposition they required radical innovation. Over time, FNB’s strategic agility led to the deliberate incentivisation of customers to use mobile channels and the subsequent development of the “customer ecosystem” strategy.

The multichannel banking customers connect with the bank through various channels - branch, mobile, online, call centre, ATM. However, the consumers don’t get the same service quality across all channels. Banks recommend their customers to use the channel that is the most cost effective. In most banks, the banking channel processes function in a silo. As a result, consumers are provided unwanted products or inefficient service via multiple channels. For e.g., a loan is provided via online/mobile and banking channels even if the consumer is not interested in the loan.

Commerce bank has been a pioneer in the banking industry by reverting to customer service. This has driven customers to the bank, but in order to stay ahead on the curve they want to move away from the model that has worked for them. They should focus on the current model and enhance it, rather than change it.

In order for Blom Bank to stay the leading Bank in Lebanon, it should improve and sustain its competitive advantage. To do so, Blom Bank is advised to use VRIO business analysis and Resource Based View(RBV) by adding value to its resources, making its resources rare, making its resources hard to imitate and creating a good organizational structure (Barney, 1997; Oliver, 1997). First, Blom may add more value to its service, by providing a better customer service, giving customers what they want at the least cost possible which will increase the value of the customer’s experience. Second, Blom may want to achieve rareness; in order to do so, Blom Bank might want to develop new products and services that other banks haven’t developed yet. Making Blom’s service and products rare and sought after. Third, Blom Bank might want to make its resources hard to imitate, resources that are intangible are well-known to be hard to imitate (Grant, 1991 as cited by Powell, 2001); thus, Blom Bank must work on creating a better social complexity (intangible resource). According to Barney (1997), some socially complex resources are reputation, trust, teamwork, and culture. Thus, Blom Bank should sustain its well-known reputation, implant as much trust in customers, work as a team and sustain its culture. Finally, Barney suggests having a good organizational culture as the 4th pillar to sustaining competitive advantage using the VRIO business analysis and RBV. Organizational culture is the basic functioning and the most important unit of any firm. Blom Bank should improve its formal reporting structure, management control systems, and compensation policies. By improving its organizational structure, Blom Bank will guarantee an increase in employee productivity, better management, and a better whistleblowing system. If Blom Bank goes after

According to Zapping Yang, there has lots of competition between banks in the competition market nowadays. Under the circumstance that the differences between the banks selves are gradually getting smaller, which has progressive information technology and scientific management ways, a particular enterprise culture,

Non-uniformity of services – It is very important to understand that not all banks provide same services through Mobile

While banks have succeeded in leveraging available technology and provide alternate avenues to customers for banking services, the challenge it faces today is optimizing the usage of these channels.

Retailtainment is a term rarely used in banking. Banks do not usually target the experience of the customer in a specific branch as a main objective, more so almost every bank is pushing to drive customers to use electronic resources for their day to day transactions such as deposit and withdrawals. In this case, Commerce Bank is a bank willing to go to the extremes just to make the customers experience worthwhile, as one of the most well-known Commerce Bank employee trainer stated “we’re not here to satisfy customers, we’re here to blow them away”.

Innovative product and business strategy became the tool to be successful in this stiff competitive environment, with the responsibility of coming up with such strategy for the bank, hence, technology has been the tool I have employed, by coming up with innovative technological products for the bank that can be sold to government ministries and agencies which will ease the collection of taxes and tariffs, the bank was able to successfully win major government accounts, also, various e-products were developed for retail users to attract them to the bank, this was done through friendly user internet porters that was easy to use for them without having to go to branches. Business strategy was also developed to offer business solutions for corporate businesses which were used to win major business accounts. This trend is projected to continue over the next two decades and with the

We have mention Branch and ATM network, Customer Service and Innovation as one of the key success factors for a bank, but all these will be unfruitful if there is no proper ICT platform to support them. To be able to take full advantage of the opportunities in the market and combat threats a bank must have an up to date strategically planned and implemented ICT infrastructure. In 2010 CRDB and NBC made entire bank systems upgrades, announcements were made on Radio, TV, Newspapers of the changes and their implication to the services offered. This is an example of organizations that have

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

The last time that technology had a major impact in helping banks service their customers was with the introduction of the Internet banking. Internet Banking helped give the customer's anytime access to their banks. Customer's could check out their account details, get their bank statements, perform transactions like transferring money to other accounts and pay their bills sitting in the comfort of their homes and offices. However the biggest limitation of Internet banking is the requirement of a PC with an Internet connection, not a big obstacle if we look at the US and the European countries, but definitely a big barrier if we consider most of the developing countries of Asia like China and

2. Study of various textbooks and other services such as journal, articles and several publications on ATM Cards.

Now it is not easy to operate the banking practices like traditional approaches of 1800 or 1900 A.D. Today’s banks need to recognize that they are no longer geographically bound, and that the introduction of electronic autobahn represents a whole new delivery channel for customer services.