Growth of the business
For any business to be successful, it is important to retain customers rather than getting new customers. This would be possible by providing innovative and customer friendly services. In the field of Banking and Finance Sector (BFS) many private sector, public sector banks and few cooperative banks which
are in CBS environment for quite some time have been leading in introducing new and innovative ways of banking. To name few, ihtroduction of ATM, new
Business entities across the world including BFS nave been struggling t~ keep cost of their
operations at minimum and as a part of such strategy they have introduced several cost control measures. Efforts while doing so, have been to keep human resources only at the minimum required level and get optimum output through greater use of Information and Communication Technology (lCT). Additional delivery channels mentioned above will not only ensure customer satisfaction but will also help to reduce cost of business operations. For example, Cost of transaction happening through ATM is approximately half the cost that bank would incur when customer carries out transaction in person at a branch. Whereas cost would be approximately 10 times less in case of internet banking to that of transaction carried out at branch by customer in person. This clearly highlights importance ofICT.
For any business to be successful, it is important to retain customers rather than getting new customers. This would be possible by providing innovative and customer friendly services. In the field of Banking and Finance Sector (BFS) many private sector, public sector banks and few cooperative banks which
are in CBS environment for quite some time have been leading in introducing new and innovative ways of banking. To name few, ihtroduction of ATM, new
Business entities across the world including BFS nave been struggling t~ keep cost of their
operations at minimum and as a part of such strategy they have introduced several cost control measures. Efforts while doing so, have been to keep human resources only at the minimum required level and get optimum output through greater use of Information and Communication Technology (lCT). Additional delivery channels mentioned above will not only ensure customer satisfaction but will also help to reduce cost of business operations. For example, Cost of transaction happening through ATM is approximately half the cost that bank would incur when customer carries out transaction in person at a branch. Whereas cost would be approximately 10 times less in case of internet banking to that of transaction carried out at branch by customer in person. This clearly highlights importance ofICT.
1 comment:
Your contents are progressing with days keep it up guys.
Branch cost control
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