2.0 Key Success factors for a Commercial Bank in Dar es Salaam.
2.1 Branch network
One of the most important factors that commercial bank must possess to be successful in Dar es Salaam is branch network. Branches are the distribution channels for the bank services and a well spread network of branches provide the bank with ability to reach the mass population of the Dar es Salaam city. As important as the number of branches is the location of these branches. Those banks that have managed to identify the right location and managed to put a branch on those locations have proved to be taking the most advantage of the market than those with fewer non-strategically placed branches. As an example, branches located at Mlimani City, Central
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2.6 Public relations and marketing strength
As a resident in Dar es Salaam you must have come a cross NBC’s Mobile Clinic, CRDB’s Student Business and daily on TV, Radio, Newspaper you hear so and so bank has donated desks to a school, mattresses to hospitals e.t.c. You walk or drive around the city you will see big Billboards with appealing advertisements by banks either trying to convince you to use their services or just reminding you of them, lotteries to win overseas trips just from opening an account. All these are massive efforts by banks to Market themselves as well as trying to maintain good relations with the public. For a bank to be successful one of the key factors it must pay attention to and strategically plan for is Marketing and Public Relations.
2.7 ICT infrastructure
We have mention Branch and ATM network, Customer Service and Innovation as one of the key success factors for a bank, but all these will be unfruitful if there is no proper ICT platform to support them. To be able to take full advantage of the opportunities in the market and combat threats a bank must have an up to date strategically planned and implemented ICT infrastructure. In 2010 CRDB and NBC made entire bank systems upgrades, announcements were made on Radio, TV, Newspapers of the changes and their implication to the services offered. This is an example of organizations that have
Understanding of the fact that digitalization of the bank is inevitable, in order to maintain and improve Sberbank’s current positions in the market, had come several years ago. In the company's development strategy until 2014, the top management of the company identified five priority areas: increasing quality of client-oriented service for all customer categories; centralization and consolidation of internal functions; implementation of the ideology of continuous improvement (SPS – Sberbank Production System); HR management modernization; and developing international
The change and advancement in technology are a significant factor in the banking business. Technology has led to tremendous improvements in this industry. Since the commencement of this millennium, people have shown great love for their mobile phones (Ozaki 1992). It necessitated the invention of mobile applications (APPs). From the introduction of the mobile banking, APP people rarely go to the banks. All their transactions get done simply by the stroke of a finger. Businesses face a challenge of adapting to changes in the technology sector. Mobile banking either through actual investing or any other means is on the rise.
The rapid advancement in information and communication technology (ICT) has extensively swayed the banking industry. Banks and other financial institutions have improved their services as financial intermediary through adopting various Information Technologies (IT). Technology has become a tool that facilitates banks ' organizational structures, business strategies, customer services and related functions. The recent "Information Technology (IT) revolution" has exerted far-reaching impact on economics, in general, and the financial
To provide effective and efficient full-fledged banking service focused on development, business growth and profitability to meet the expectation of all stakeholders.
The primary source of data for research is interviews with bank executives. To confirm information collected by primary data, some documents published by banks were used as secondary data. The interviews were recorded and important points were collected. The whole research can be divided into three steps. First is general description of
In making decisions concerning a bank 's strategy, the institution must take into account several initial areas that may formulate a restraint in implementation. They are the economic and cultural environment, the competitive banking atmosphere (extremely competitive), the marketing strategy to be implemented, and the pricing/promotion that goes into the marketing function. (McMahon, 1986).
(Ernst&Young, 2015). It is essential for capital markets institutions to upgrade technologies – in-house or through joint ventures, strategic alliances or acquisitions of ‘permitted’ technology firms that are closely aligned with banking – to make valuable operational and financial decisions. (KPMG, 2015). Bank must also invest in technology preventing financial crimes and cyber threats. Furthermore, investment banks can enable their staff to access necessary information to perform their work more efficiently and support better connectivity with clients by using social media and mobile technology. Technology will enable the bank to transform , to take control, to rebuild trust, to drive efficiency and to become digital.
Internship Report submitted to SIU in partial completion of the requirement of MBA Banking Management at Symbiosis School of Banking Management
> Bank is not presenting new point s nowadays, so bank should help the item improvement and increase the scope of offices offered for clients. Also, the rates of ebullience on its different items have been decreased.
On the other side, IT innovation has increased bank’s competition as well. By integrating IT in the operations, small and relatively new banks has became in a better place to compete with the established and large banks. To provide uninterrupted services, bank need to invest more in call centers and ATM’s. Internet banking requires IT infrastructure integrated with their business strategy to be customer focus.
The Kenya’s banking sector has witnessed rapid growth in the recent past resulting in a scramble for the available customers. There were 49 banks in Kenya in 2003. The banks face stiff competition and the only way to survive is by being updated
impact of ict on the performance of banks. A case study of Barclays Bank Ghana
The last time that technology had a major impact in helping banks service their customers was with the introduction of the Internet banking. Internet Banking helped give the customer's anytime access to their banks. Customer's could check out their account details, get their bank statements, perform transactions like transferring money to other accounts and pay their bills sitting in the comfort of their homes and offices. However the biggest limitation of Internet banking is the requirement of a PC with an Internet connection, not a big obstacle if we look at the US and the European countries, but definitely a big barrier if we consider most of the developing countries of Asia like China and
The paper will analyse and measure the performance of Islamic banks in comparison to conventional banks. The performances will be measured over a 5-year period from 2009 to 2015. In comparing Islamic and conventional banks, profitability and liquidity will be examined.
The manner, appearance, efficiency, professionalism and knowledge of the staffs of the bank also play an important role in driving customers to their respective banks. The reason is that if the staffs are not able to handle the queries or problems of the staffs then the customers are not tempted to do banking with a particular bank. This may be either with a nationalized or a privatized bank.