| Topic : Strategic Issues Driving Retail Banking |
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Banking & Insurance Professionals |
ICICI Bank |
Branch Managers in Private Banks |
3 more ...
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Activity:
71 views;
last activity : 07 06 2010 20:18:09 +0000
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Performance
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Performance to be cost effective
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customer service
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According to me, retail banks face some of the specific performance challenges like they must efficiently manage a range of different distribution channels, with branch, telephone, mobile and internet banking all in demand, often for the same customer. They must get a balance between both the in sourcing and the outsourcing and build effective relationships. They must also remain vigilant against financial crime all the time, which can adversely affect their reputation in the market. While doing all these things there will be times where the performance level drops, so without compromising with the performance and productivity one must continue to improve their customer satisfaction which will eventually drive cost sales.
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Having been declared best performer in the bank, I feel most of us are looking to add non interest income, by selling non banking products like lic/gic/mf products to cusomers, without considering their interest.
This may be due to the income budget thrust on us by the bosses.
I have recently come across an case wherein a new generation bank selling a 100% equity drive pension policy wherein the corpus is eroded by 60% & the banker walked away with his handsome commission
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Retail Banking involves large number of customers, plenty of accounts and vast geografic area. While routine services can be handled computers like ATM, CreditCard, etc., attending the enquiries , clarifications and complaints over phone and personal visits of customers require special skills. Personal visits to the place of customers is costly, but could be inevitable. Banks can understand the customers better at the place of cusotmers than when they come to the Bank. Identification of customers and their requirements, and matching the retail banking services to meet the customers requirements is the skill and is the performance |
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I think in recent days there is lack of customer service from the retail banks which is annoying the customers, be standing in long lines for so many things at the bank or the employee of the bank not properly answering to the queries to the customer, this is becoming a key issues in the retail banking, and with this one is loosing out on potential customer who would have been great for them. so lack of customer service is a problematic area for the banks. |
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I don’t think this portal will go a long way, as NDTV launches portals without long term goals for development and brand building and a portal loses its value on long run. |
I think one should use more technology or integrate more IT into the banking business during a suituation like this, where banks today are really at a crossroads. And management is faced with increasing pressure from shareholders to determine exposure... |
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