...Problem Statement Bank of America is struggling to position their mobile banking service in the continuously changing industry. The bank already has a mobile application but is evaluating if they should add more features to this app and how this will affect their clients. Situation Analysis Company • Bank of America is the largest U.S. bank holding company; it was founded in 1904 and expanded with several acquisitions. • By the end of 2009 BoA was the leader in the market, serving 82% of the US population (over 53 M customers) and positioned number one in online and mobile banking. • Very strong and best-managed banks before the crisis which brought losses and a very strong drop in stock price. • Mobile banking was launched in 2007 and in less than 3 years they have 4 million customers using the service. Customers • Chose their bank based on low account minimums, competitive rates and convenient locations. • In 2009 10 million consumers used mobile banking and this was expected to grow to 37 million by 2014. • Customers willing to use mobile banking are not the same as online users. • Security issues, low value and cost of data access were the primary reasons why customers would not use mobile banking. • Debit card holders were the most active users because of the convenience of checking their account balances at any time. • They are reluctant to try a new banking service if it represented an extra cost and were also afraid of losing control of their finances...
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...Introduction Customer satisfaction in the banking industry revolves around receiving a positive feedback regarding aspects such as staff conduct, credibility, communication and access to banking services whether through online banking or teller services. These factors represent the final dimensions of service quality that satisfy the customers. There are also the intangible aspects of the staff-customer interface. These intangible aspects include the implementation of a helpful, caring, and friendly and a committed approach among the members of the bank staff. Indeed, a positive experience in the area staff-customer interaction was the key to maintaining a high level of customer satisfaction. In a way, the bank customers respond positively to the customer-oriented, high-touch, and an intangible service quality criteria in an age of increased automation. The Chase Bank acknowledges that the critical dimensions of bank service quality and their implementation in practical business terms varies as the customer profiles and customer experiences evolve. Some studies have found that bank service quality expectations vary by segments and by countries (Arasli et al., 2005), and by time. It is possible that the saliency of bank service quality dimensions may be situational and may also adapt as the context changes. The ‘speed of service’ reflects differences resulting from both customer characteristics and exposure to high-tech banking practices. For example, a customer-Oriented...
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...Banking APP In today’s world a phone is more than just a device that makes calls to family, friends and businesses, we are doing so much more than we ever could imagine in the past. The smart phone is the new device where we are able to do so much more than just talking, the wireless technology has taken the office and put it in the palm of our hands and made it mobile, so we can do those office functions remotely. The advantages of this technology in short is that it allows more communication with others through not only talking but also through texting and internet which has allowed face to face communicating like skype and Apple’s face time to name a few. We are also dependent on our smart phone to help us navigate through our day from the calendar to remember appointments, meetings, doctors’ appointments, alarms, GPS, internet, social media, shopping and mobile banking which all of these are applications that make day-to-day life a little easier. Many of the changes that we have seen when it comes to smart phone technology have improved quite a bit of the last ten years or so and are that people are using those features and functions that are convenient for them. Much of this can be contributed to the fact that in today’s times we have less and less time to ourselves, we need more convenient ways to do more in shorter amount of time and smartphones and APPS are a way to get this done . This is not only for the US citizens but worldwide users as well who maybe feeling the...
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...Session Topic: Unique Features of Oman Islamic Banking Regulatory Framework Speaker: Mr. Sohaib Umar, Executive manager at Ernst and Young Time and Date: Wednesday 16th of January 2013, at 12pm Mecca Time (+3GMT) The session aims to discuss: What was the rationale behind a more conservative Shari'a governance approach adopted by the Oman IBRF? What is the relevance and applicability of Oman IBRF for other markets? Is this the start of a new trend in Islamic banking worldwide or is it specific to Oman? What are the growth prospects of Islamic banking in Oman? What kind of human resource requirements does the Oman industry have, now and in the near future? About Mr. Sohaib Umar: Sohaib has nearly two decades of industry experience - both in conventional and Islamic finance. He is currently working as Executive Manager with Ernst & Young's MENA Islamic Financial Services Advisory in Bahrain. He advises Islamic financial institutions on governance structures, strategy, operating model and internal organization. He also advises central banks and was recently engaged by the Central Bank of Oman to assist in preparing Islamic banking regulatory framework for the Oman market. Sohaib works closely with standard setting bodies such as AAOIFI. He started his career as a broker in 1994 and worked for local and multinational brokerage houses in Pakistan and Hong Kong for eight years before switching to venture capital and private equity in 2002. He joined Ernst & Young in...
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...middle businesses, corporations and Governments with their banking, investing, asset management and other financial products and services 1. The company is headquartered in Charlotte, North Carolina. The company has huge presence in America spanning across 40 states. It serves approximately 54 million consumers in US and its foot print covers 80 % of the population. The bank is being led by Brian Moynihan who succeeded Ken Lewis as the President and CEO effective January 1, 2010. Some of the key highlights of Bank of America are: As of 2010, it is the second largest bank holding company behind JP Morgan Chase in United States by assets which stood over US$ 2 trillion As of 2010, the company is the fifth largest company in United States by revenue which is over 111.4 billion2 The company was also the 3rd largest non-oil company in the US after Wal-Mart and General Electric In 2010, Forbes listed Bank of America as the third largest company in the world 3 The bank has over 5500 branches along with approximately 16300 ATMs and an online banking with 30 million active users 4 The major competitors of Bank of America are JP Morgan Chase, Citi Group and Wells Fargo Bank. 1 http://www.forbes.com/companies/bank-of-america/ 2010 Bank of America Annual Report 3 http://www.forbes.com/companies/bank-of-america/ 4 http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol -homeprofile#fbid=W6HlSIbzfcd 2 4 Bank of America: Mobile Banking Case Report Financial Snapshot 5 Company History The company...
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...KOTHAPALLI WILMINGTON UNIVERSITY EVOLUTION OF MOBILE PHONES In April 1973 a Motorola researcher and executive, made the first mobile telephone call from handheld subscriber equipment, placing a call to Dr. Joel S. Engel of Bell Labs. The prototype handheld phone used by Dr. Cooper weighed 1.1 kg and measured 23 cm long, 13 cm deep and 4.45 cm wide. Eventually there was change In the particular size and technology of the mobile phone .Every year there was a significant change in the development of mobile phones , gradually the size started to reduce nowadays we can find all kinds of slim smartphones .There were many technological developments too. TEXT MESSAGING In 1992 Neil Papworth sent the first text message, the text message revolution has exploded. As more and more people get cell phones every year the number of text messages sent and received soars with them. A lot of people started using text messaging to convey the messages .They had an option to send the text messages to different countries too. It was a great invention for people to use, mobile phones became a necessity for each and every human being. If people couldn’t attend the calls they could text each other it became a convenient way of approach .Later as years passed it started getting even more convenient there were many technological developments and many inventions .Whatsapp, viber etc., have...
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...Communicating in a World of Diversity SIMULATION DESCRIPTION: You have been an associate manager for GreenStar Banking for almost five years. Your boss often calls on you to help with any in-house situations in the teller department. Recently, the bank has hired a 22-year-old college student, Lexie Ratcliff, as its newest teller. Lexie is majoring in accounting and is excited to have the opportunity to work for a bank. In school, she is specializing in e-commerce and is eager to apply the principles learned in her classes. As part of GreenStar's mentoring program, Lexie is paired with one of the senior bankers, Stephanie Owens, who has been with the company for almost 15 years and is 60-years old. They are having some difficulties working together on a customer appreciation event. Your boss has asked you to help the two communicate more effectively while working on this project. You earned 85 percent. Background GreenStar Global is a multinational corporation that began as an oil and energy company and now includes a variety of firms focusing on everything from pharmaceuticals to books to banking. GreenStar Banking prefers to hire a diverse group of people for its customer service and teller positions; subsequently, the staff reflects the same diversity as its customers. Background You have been an associate manager for GreenStar Banking for almost five years. Your boss often calls on you to help with any inhouse situations in the teller department. Recently, the bank has hired a 22-year-old...
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...College of Technology in partial fulfillment of the requirements for the award of the Degree of Higher Diploma in Internet and E-Security Submitted by: (1) 2782011- Abdullah ALJaradi - “Leader” (2) 2782239 - Auf ALMujaini Project Supervisor : Mrs.Divyajyothi M G Al Musanna College of Technology Declaration We hereby declare that the project entitled “Banking Security System “ submitted for the Higher Diploma in Internet and E-Security is our original work and this project work has not formed the basis for the award of any degree. Name of the students | Signature | Abdullah Aljaradi | | Auf Almujini | | Date of submission:- | Place:- | Acknowledgment We would like to express our deep thanks and appreciation to all who have supported us by providing a good and encouraging atmosphere to successfully complete our Higher Diploma project . Thanks to Allah for granting us with the necessary patience to finish our project successfully. we hope it will be successful. Our profound thanks to our family for granting us a suitable and comfortable home environment in order to work on our project. Our sincere appreciation is extended to the technician Mr.Nasser Ali for his continuous guidance and support throughout the course of this project. Thank you dear sir for your concerned guidance and good instructions. Many thanks to Mrs.Divyajyothi for her good guidance and support throughout...
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...Stress in liquidity is at the heart of any banking crisis in history. During the financial crisis of 2007-09, funding liquidity risk caused the collapse of interbank markets, which became the focus of authorities’ attention at restoring order. Accordingly, central banks and other regulatory bodies world-wide have been evolving prudential liquidity norms in order to impart stability to financial systems. Apart from implementing newer norms on liquidity, they have been devising ways of assessing objectively liquidity conditions in the markets. As an end to this objective, various central banks have started identifying the indicators of liquidity and preparing a composite index thereof in order to have a bird’s eye view of liquidity conditions across financial markets. In this study, a systemic liquidity index (SLI) is constructed considering prevailing rate variables across different financial markets in India. The SLI, so developed, is appropriately validated for its function as a metric for measuring systemic liquidity and its implications on the banks’ performance. Introduction “Unfortunately the word ‘liquidity’ has so many facets that is often counter-productive to use it without further and closer definition” - Charles Goodhart (Banque de France, 2008) The financial crisis of 2007-09 originated in the relatively small subprime lending market of the US, but engulfed the world financial markets very quickly and had devastating effect on the global economy. One of the important...
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...established in the US and providing their banking products and services in the US and others countries. TNV related to the banking industry and it generates revenues through different ways such as interest, transaction charges, services fees and provides financial advice. The main method of generate revenue is charging interest on the capital and lending activities. This bank provides different types of the financial products and services of the customers including saving account, current accounts, personal loans, home loans, foreign exchange services, credit and debit cards, online and NRI Services, cash management, treasury services, insurance and investment options. The company's strategic vision is becoming largest banks of the US in terms of numbers of customers and generates revenues through reach and connects with the more people. The main stakeholders of TNV bank are board of directors, management, employees, shareholders, customers and government. TVN banks established its offices in the all major cities of the US to distribute its financial products and services of the customers. The company operations strategy is using latest technology to provide best services of the customers at the right place with less time. American Express, Ally Financial, Regions Financial, RBS Citizen Financial Group, BMO Financial and CIT Group Inc are the main competitors of TNV banks in the US market. TNV bank required the web based technology to provide online and mobile banking and financial...
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...Cell phones Freymel De La Rosa Mr. Ramírez English 11, 3rd period May 29th 2012 Outline Thesis Statement: Cell phones have changed us socially in many ways since their first invention till now, through their history, uses, and their changes in communication. Introduction I. Cell phones History A. First cell phones B. Cell phones inventor C. How they work II. Using of Cell Phones A. Changes in Communication B. Benefits C. Health effects III. Have they changed us socially? A. How? B. Negative use C. Positive use De La Rosa 1 The concept of the cellular phone was developed in 1947 which originated from the mobile car phone. The concept of the cellular phone was produced by Bell Laboratories. The first actual cell phone was made in 1973 by Martin Cooper of Motorola and other assisting inventors who used the idea of the car phone and applied the technology necessary to make a portable cell phone possible. Cell phones were first made available to the public in 1984. Back then, they were very large, expensive instruments. The first cellular phones to be created were very large and bulky. This made them difficult to carry around. The first cell phone came to the market in 1984 from Motorola and weighed 2 pounds. It was a DynaTac 8000X which was selling for $3,995. A few years later, in 1991, the Motorola MicroTac Lite was created which cost $1000. Martin Cooper started Motorola’s research for cellular phones. He was raised...
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...Detailed information should form the part of your answer (Word limit 200 to 250 words). PRODUCTION AND OPERATION MANAGEMENT. Section A: Multiple choices: 1. If the number of restrictions on sources be ‘a’ and the number of restrictions on destinations be ‘b’ then with the use of ‘stepping stone procedure’, the number of ‘used cells’ will be a. a+b+1 b. a+b+2 c. a-b-1 d. a+b-1 2. Value of smoothing coefficient ‘α’ lies a. Between 1 and ∞ b. Between 0 and 1 c. Between -1 and 1 d. Between 1 and 2 3. Forecasting error is a. The difference between forecasted demand and actual demand b. The ratio of forecasted demand and actual demand c. The difference between the standard forecast demand and the evaluated forecast demand d. Ratio of standard forecast demand and the evaluated forecast demand 4. For forecasting the analyzers plot the demand data on a time scale, study the plot and then look for the consistent patterns. Now what does the high noise mean to these patterns a. Many of the point lie away from the pattern b. Most of the points lie close to the pattern c. All the points lie on the pattern d. None 5. Payback period is a. The length of time after which the production starts b. The length of time after which the selling starts c. The length of time required to recover the investment d. The length of time for which firm bears replacement of the good. 6. Salvage value is the income from a. Selling an asset b. Buying an asset c. Bargaining...
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...CIBC Financial Service Representative Outbound Calls Submitted to: Aaron Dresner Submitted by: Amina Ali Alishba Chaudhary 5986222 Khanh Hoai Nguyen 9691839 Yolane Sima 6454046 Monday May 27, 2013 Phase I: Job Analysis MANA 362 Table of Contents CIBC 3 Job Description .............................................................................................................................4 Task ................................................................................................................................................4 Importance Rating.........................................................................................................................6 Dimensions......................................................................................................................................7 KSAs ............................................................................................................................................ 10 References....................................................................................................................................... Appendix CIBC The Canadian Imperial Bank of Commerce commonly known as CIBC is one of Canada’s leading financial institution. Through their three main businesses, retail and business banking, wealth management and wholesale banking, they offer a wide variety of financial products and services to over 11 million individual, small businesses...
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...BPO in India – an overview Contents I. Introduction II. What is BPO? • Types of BPO • Key services in various sectors III. Indian BPO Market IV. Market Segments and Trends • Banking sector • Insurance • Healthcare • Media/Publishing • Offshore Software Development • Network Outsourcing Services • HR Outsourcing V. Popular destinations VI. Employment opportunities VII. Key players in the market a. Indian companies b. MNCs VIII. Global competition IX. Future/outlook I. Introduction: Late 90’s has opened a new chapter in Information Technology (IT) sector in India – Business Process Outsourcing (BPO), one of the fastest growing segments of the Information Technology Enabled Services (ITES) industry. Cost conscious companies in the world to gain cost savings has set up their back office operations in India. The BPO segment, which was virtually non-existent till a few years ago, has risen to be a US $2 billion industry and IDC expects it to grow at a CAGR of 54 per cent till 2006 to reach US $12 billion. A major portion of the revenues today come from customer care and back office processing services, according to IDC’s report. II. What is BPO? BPO is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain their position in the...
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...Introduction I- Presentation of the E-Banking . . . . . . . . . . . . . . . . . . . . . . . . . . . p.4 A- The definition of the E-Banking. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . p.4 B- The launch of the E-Banking. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . p.5 C- Bank online and traditional Bank. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . p.5 II- The advantages of the E-Banking. . . . . . . . . . . . . . . . . . . . . . . . p.7 III- Opportunities and future prospects. . . . . . . . . . . . . . . . . . . . . p.11 A- Bank and social network. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .p.11 B- Bank and mailing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . p.12 C- The arrival of the video banking. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . p.12 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . p.15 Bibliography. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . p.16 INTRODUCTION For this final assignment I have chosen to take the topic of the E-Banking because it represents what is the E-business for the bank in general. Thanks to the advent of the news technologies these last years, our lives are became very different...
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