Pilgrim Bank

Another significant result we can see is from the Current accounts and Credit Card Segments shown in Figure 4. As we can see here, 75% of the customers are responsible for generating 130% of the profit and the rest are

Convenience way of operating banking transactions: Online banking is a highly profitable channel for financial institutions. It provides customers convenience and elasticity and can be provided at a lower cost than traditional branch banking (Williamson, 2006). The convenience of online banking is helping people gain greater control of their finances and contributing to changing patterns in cash withdrawal and day to day money management. (Beer, 2006)

It appears to be the conventional wisdom that non-interest income is more stable than interest income and that non-interest earning activities reduce bank risk through diversification of bank earnings. The mixture diversified activities such as interest earning and fee earning activities togather may escort to a more steady profit stream, since the revenues comes from different products in a organisztion are usually imperfectly

The community of Bankhead, Census Tract 85, is located on the west side of downtown Atlanta with surrounding areas such as The Bluff and counties like Rockdale, right outside of Fulton County. Its’ industrial area gets its’ name from the formerly named highway that used to be a way to The neighborhood is encapsulated street boundaries like Grove Park towards the West, Washington Park and Hunter Hills are located down towards the Southern region of the community. The community adjacent is called The Bluffs is known as English Avenue and Vine City. The community is in council district three and nine, and the area is considered metropolitan. The area codes common in this metropolis area are 30314 and 30318.

Internet banking has many benefits for consumers and these advantages also can explain why it is growing in popularity.

The banking industry is highly competitive. The financial services industry has been around for hundreds of years. Wells Fargo has many competitors itself. In this paper, I will be doing a comparison of Wells Fargo & Company (WFC) and one of its biggest competitors, Bank of America Corporation (BAC). By analyzing looking at the financial ratios, one can see whether the company is successful or not. In the following, I will try to analyze and make a comparison of Wells Fargo’s and Bank of America’s recent performance in growth, income, and efficiency. Using a these criteria, I will determine which bank is the better buy according my analysis. My analysis of WFC & BAC’s performances

Alan Green needs to answer the decision problem of whether charging fees for online banking use is more profitable for Pilgrim Bank than offering incentives to promote wider use of the online channel. To begin solving the problem, Mr. Green first must address the following research issues: how much more/less profit do online users generate; is this difference significant, what are the measures of customer profitability, what are the characteristic of the bank’s online users and profitable customers, what are the costs of operating the online banking channel, and finally what measures does the bank take to retain its most profitable members.

As their name suggests, they only execute their operations online. Customers can only be in contact with their money over the internet since they do not have any physical branches. Because online-only banks require lower overhead costs, they have the capability to offer more free services and higher interest rates compared to a traditional bank. Online banking provides many customers the convenience of handling their business at any physical location as long as they have access to internet. This is possible because of the variety of services that online banks provide despite limiting interaction to only the internet. Some of their services include applying for loans online, transferring funds and paying bills online. While the convenience of being able to access banking through the internet is worthwhile, there are limits to it. For example, making large deposits to the bank is limited and can only be made through the mail, they don’t service cashier checks for transactions, and withdrawing money from the account is very inconvenient. Luckily, the role of the internet in financial transactions is becoming increasingly prominent so that spending money online is more accessible, but it is important to understand both the benefits as well as restraints of online banking. Nowadays, many large brick-and-mortar banks have caught on and provide some online services in attempts to

The growth of the bank’s revenue for its shareholders, is also as a result of the respect the bank has on delivering quality services, respecting the views of everyone involved in their business, having a leadership system that is easily approachable, being

Our main focus in 2015 will be to reverse the trend of deposit loss into one of growth. Last year was especially difficult for the Needham branch, as only Q2 yielded positive growth. Nearby competitors offering myriad products with superior rates was the main factor for our shrinking deposits in Needham’s rate-sensitive consumer market. In order for us to retain and grow our deposits, it is imperative for us to create value in other ways for our customers.

We do believe though that the online presence, in not only banking, but in most things involving commerce, is growing and that it is not a bad idea to think of ideas for budget increases concerning online banking in the near future. But in strictly viewing the numbers given to us in the case that may not be a great idea at the present time.

Literature review Data Analysis and interpretation o Online banking o iMobile o PAYBACK o Privilege Banking o ATM Banking

These advantages led the smaller businesses to concentrate on convenience locations, better customer service, reduction of banking fees, waiving of ATM fees and the ability to cross-sell extra products and services. According to the research, in 2009 the consumers chose their banks based on traditional criteria, such as low account minimums, competitive rates, and convenient locations. (Case, pg. 2)

The problem here is that since theOne would think that the main purpose for a bank besides managing one 's money would be giving good customer service. Excellence in customer service is the most important tool for sustained business growth. Customer complaints are part of the business life of any corporate entity. This is more so for banks because banks are service organizations. As a service organization, customer service and customer satisfaction should be the prime concern of any bank. Banks believe that by providing prompt and efficient service on to their customers, this is essential not only to attract new customers, but also to retain existing ones because customer dissatisfaction would spoil the bank 's name and image. To provide this kind of service more fast and efficient, the major weapon of bank is e-banking.

The use, acceptance, adoption and application of internet technology to businesses to boast their performances are not something new. Saffu et al., (2008), states that there has been a significant increase in the use and application of e-commerce in businesses in the past decade. E-commerce has benefits such as reduction in costs, increased business opportunities, reduced lead time and providing more personalized service to the customers (Turban et al., 2008). Internet banking or e-banking is one of the many tools of e-commerce adopted by the banking industry. Tools of information technology such as internet banking have significantly improved the quality of services offered by the banking