Banking sector
Transcript of Banking sector
IMPACT OF GLOBALIZATION ON BANKING SECTOR:
PRE-GLOBALIZED SCENARIO OF SERVICE CULTURE IN THE INDIAN BANKS
SERVICE CULTUREWAS EXTREMELY
DEMOTIVATED & NON INTERESTED EMPLOYER& EMPLOYEE.
NON COMPETETIVE ATTITUDE.
PRODUCT FOCUSED & NOT CUSTOMERSERVICE FOCUSED.
CUSTOMER UNFRIENDLY
FORMALIZED
LIBERALIZATION & GLOBALIZATION MEASURES WERE INTRODUCED IN INDIA IN 1991-92.
SHRI M.NARASIMHAM RAO
Globalization Process
TWO WAY PROCESS.
INDIAN BANKS.FOREIGN BANKS.
BANKS IN GLOBALIZED COMPETITIVE WORLD.
Foreign Banks in India Indian banks abroad
ABN AMRO BANK
CITI BANK
BANK OF CEYLON
PUNJAB NATIONAL BANK
BANK OF BARODA
ICICI BANK.
GLOBALIZATION IMPLIES TO EXPOSURE TO COMPETETION
What do Customer Like Most???
Customer service personnel ask
Today’s customer likes, Flexibility. Answering the phone calls promptly. Meeting
commitments. Courtesy . Updates On Progress. Pleasant Attitude.
RATER technique by Parshuraman,
Reliability. Assurance. Tangibles. Empathy. Responsiveness.
COMPETETIONCOMPETETION
FOCUSED ON CUSTOMER SERVICE
FOCUSED ON CUSTOMER SERVICE
INNOVATIONINNOVATION
GOODS SERVICES
Innovation In Banking Product.
Core Product Basic Product Expected Product Augmented Product
Potential Product
The basic necessity to use banking services in order to handle finance more efficiently
Safety of depositsLoanable funds etc.
Timely serviceLong banking hours.Low interestRate.
Good waiting roomsfriendly employeesWelcome note.
Occasional greeting at home
Surprise gifts.
Mobile &
Internet banking
ATM N
etwor
k
Good Waiting room
Promotional
discountsLow
interest rates
Intro. Of new
schemes
Change inProduct line
Consulta
ncy
servi
ce
Financial service
Flower of banking service
External drivers compel banks to leverage the developments in Information Technology
and continuously innovate.
Regulatory change and consolidation
Competitive forces.
Changing Consumer Preference.
Technological developments.
Technological innovations in Banking sector.
Data Mining.
Tie up Arrangements
Plastic money.
Virtual banking-
don’t visit the branch
ATM
Insurance Product
Marketing Agents for Distribution of Products
Mobile Banking
Phone Banking
ADDITIONAL FINANCIAL SERVICES AVAILABLE TO BANKING SECTOR:
Merchant Banking
Loan Syndication.
Mutual Fund
Factoring.
Forfeiting.
Venture Capital.
These services are being initiated by banks like ,ICICI Bank Ltd., Citibank, Global Trust Bank Ltd.,UTI Bank Ltd., Bank of Citibank Bank of Madura Ltd., Federal Bank Ltd., etc.
Negative Impact of Globalization on Banking Sector.
Cyber crimes are, therefore difficult to be identified and controlled.Volatility or shackles in global markets have direct impact on the banking sector globally.
Theft
Conclusion Conclusion
The opening up of economy in 1991 paved the way for the next revolution in Indian Banking: the emergence of private banks. It has changed the face of retail banking , bringing in enhanced competitiveness, product mix & customer satisfaction.
The emergence of retail banking has also brought into focus the performance of the private banks & their aggressive banking practices. The new private banks have used technology to grow.The PSUs are now becoming more customer centric & tech savvy. The battle for the Indian consumer’s mind is in full swing.
The opening up of economy in 1991 paved the way for the next revolution in Indian Banking: the emergence of private banks. It has changed the face of retail banking , bringing in enhanced competitiveness, product mix & customer satisfaction.
The emergence of retail banking has also brought into focus the performance of the private banks & their aggressive banking practices. The new private banks have used technology to grow.The PSUs are now becoming more customer centric & tech savvy. The battle for the Indian consumer’s mind is in full swing.
That’s all That’s all Folks !!!Folks !!!Thank you!!!Thank you!!!