Information Technology and Innovation at Shinsei Bank

with experts in the field of CRM. One of the experts advised us to focus on

Recent survey found that only 34 percent of customer service companies use latest technology for customer service management. On the other hand 66 percent of companies using notebooks, papers, and useless notes. In order to succeed, we must have proper tool to execute it. So, matt has to collect information about Datatronics CRM and he has to find out whether the staffs are using CRM properly.

The United Bank is an organization that engages in banking and uses Information Technology to help serve customers from banking firms better. The firm’s headquarter is located in the United State with potential of venturing internationally. The purpose of this Information Technology Strategic Plan is to presents initiatives that the bank must undertake to achieve the continued success and improvement of the Information Technology at the banking sector. This strategic plan involves the uses of SWOT analysis as the centerpiece initiative to achieve the future of this firm using modern technology, such as, cloud computing. The plan will accelerate the future of this firm by automation and streamlining of many of the manual and fragmented processes that the firm is currently using. The results of this analysis are therefore proposed as Information System applications, like, Knowledge Management System Application, Automatic Files and Data Transfer as well as Cloud Computing to help serve customers efficiently and effectively thereby increasing revenue earned. The results of this analysis also generate various policies requirements to be adopted by the bank so as to realize revenue increase from the current $5 million to $20 million per year. The plan therefore, shows how customers in the banking sector can conduct basic banking transactions electronically at their

JPMorgan Chase has been adjusting to the new financial advances in technology. Financial Technology (FinTech) is “an emerging financial services sector in the 21st century” that includes “any technological innovation in the financial sector, including innovations in financial literacy and education, retail banking, investment, and even crypto-currencies like bitcoin” (Investopedia, (n.d.)).

Riordan has seen declining sales and uneven profits in the last couple of years that has forced management to consider making several strategic changes. Management has identified one possible solution as being the integration of a customer-relationship management (CRM) system. Management believes that this solution will improve sales and help the company return to a path of profitability. Customers will now have access to an entire sales team rather than be dependent on single salespeople. Furthermore, each team will be focusing on a particular customer segment which will allow them to grow their expertise in that area.

Ling and Yen, 2001 assume CRM to be a vital element of a business strategy while Wayland and Cole, 1997 find it as the means to develop long term relationships with customers, given all the facts. Various experts and scholars could have various perspectives but their basic aim is to generate a remarkable customer experience. To make the most of the system lies in the hands of the organization and not the system itself. An evaluation between two stores with similar quality services and products, shows that the one with an intense customer understanding and knowledge will have its customers coming back to its store for more (Linoff and Berry 2011). They also reason that campaign management, lead tracking and call centre softwares are the components of the same CRM system. Its a radical change for most of the companies to develop a system that revolves around customer relations. The crucial points that need to be emphasized are

“Distribution is the name of the game,” Lenox CEO and president James Bennett told the insurance company’s newly hired chief information officer, Diana Sullivan, three years ago. Sullivan recalled the details of that first extended conversation with Bennett as though it were yesterday. “We depend

701 E. Chocolate Avenue, Hershey PA 17033-1240, USA Journal of Cases on Information Technology, 11(2), 42-55, April-June 2009 Tel: 717/533-8845; Fax 717/533-8661; URL-http://www.igi-global.com

The implementation of the CRM is now in disarray. Identify the problems in the acquisition and implementation process that may have contributed to this state of affairs. Why did these problems arise?

Canyon Ranch employed CRM system to leverage its business and strategic goals, where CRM essentially deals with the company’s association with its customers, clients and sales prospects which incorporates technology to arrange, automate, and device business processes, to leverage primarily sales and also marketing, customer-service, and

Riordan is currently looking at an integrated customer management system, which will go along with their newly formed team selling approach. By using an integrated system, management will be better able to check the accuracy of each salesperson’s data.

When any organization makes the decision to enter into the world of electronic business, or e-business, they face a whole new set of challenges and a whole new set of regulations that must be adhered to. Smith Systems Consulting was no exception.

1) Eric Brinker of JetBlue noted that the database developed during the crisis had not been needed before because the company had never experienced a meltdown. What are the risks and benefits associated

Customer Relationship Management (CRM) today has changed the way companies view from looking to not only improve their revenue and compensation but to make their customers happier, with the focus on loyalty and retention. CRM technology is used to efficiently and effectively gather vast amounts of data as well as analyze, interpret, and utilize that data to find solutions to customer satisfaction strategies, directly targeted on streamlining, improving, and personalizing all the customer interactions with the company. (Gordon, 2002)

Commercial banking centers are going through drastic changing times. Nationwide most major banks are gradually closing their branches. Across the country banks are disappearing. The rise of technology and convenience of smart phones is making retail banking an uncertain career choice. The one area that needs to be focused on is what goes on inside a commercial bank, because for many financial centers, it has been the image to the public.