• Title/Summary/Keyword: Banking Strategy

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Information Strategy of Banking Industry in a World of Change (국내 금융산업(金融産業)의 정보관리(情報管理) 실태(實態)와 정보화전략(情報化戰略))

  • Park, Hyun-Woo
    • Journal of Information Management
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    • v.22 no.2
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    • pp.47-72
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    • 1991
  • This paper purposes to suggest information strategy of banking industry to cope with recent revolutional changes in financial environment. To this end, this examines the status quo and effects of application of information technology to banking services, surverys advance of several foreign financial institutions in the aspects of information system, and proposes direction of application of information technology to banking sphere and information strategy of banking industry to get competitive advantage under present fiercely competitive financial world.

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Innovative Marketing Channel in the South Korean Retail Banking Industry: The Case of KB Rockstar

  • Chung, Hwan;Kim, Sang Yong;Yoo, Changjo
    • Asia Marketing Journal
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    • v.15 no.1
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    • pp.23-42
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    • 2013
  • To overcome the profitability challenge these days, many global banks are increasingly focusing on cost efficiency through more efficient banking processes, such as online and mobile banking, whereas a number of other banks choose to differentiate their services for retaining and attracting the most valuable customer segment (Deloitte, 2011). While global banks in the retail banking industry are adopting either of these two business models as a strategic choice for their long-term growth, KB Kookmin Bank, one of the leading retail banks in South Korea, has begun to operate 'KB Rockstar' as a strategic channel, particularly designed to target college students in the youth market. The new marketing strategy has resulted in a positive impact on its brand image in customers' perception as well as a drastic increase in the number of youth customers. In this study, we analyze the case of 'KB Rockstar' and summarize the key factors for its success from a marketing perspective. First, 'KB Rockstar' is not simply a good channel strategy, but an innovative marketing strategy that aligns place, product and promotion together in order to create a synergy effect, resulting in the successful implementation of the bank's targeting strategy. Second, the strategy effectively establishes 'KB Rockstar' as a brand targeted to youth customers while also competently strengthening the image of the corporate brand, KB Kookmin Bank. The skillful implementation of organically combined marketing mix strategies has enabled the successful launch of the bank's sub-brand. Third, the strategy considers a retail bank branch as not only the place that makes sales transactions in order to generate short-term profits, but also the place that builds a long-term relationship with customers in order to maximize their lifetime values in the long run.

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A Case Study on the Usage of Mobile Banking Service (농협의 모바일 뱅킹 서비스 사례)

  • Kim, Byung-Gon
    • Journal of Information Technology Applications and Management
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    • v.17 no.2
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    • pp.207-223
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    • 2010
  • Mobile banking is a subset of electronic banking which underlies not only the determinants of the banking business but also the special conditions of mobile commerce. Nowadays wireless networks are being evolved and diversified. In this situation The wireless e-commerce is in the limelight on new profits of Carriers. Especially from current year when Carriers in domestic plans to provide the services using 2.5G networks the service providers choose wireless e-commerce as the main parts of wireless internet strategy and will provide a various of services. Because of this situation, the importance of mobile billing service is being emphasized. This paper searches the definition and service types of mobile banking, and suggests status and prospects of domestic mobile banking. We suggest the basic direction, the stage of development and functions of services by analyzing the cases of Nonghyup's. Finally we derive the critical factors from those and suggest the effect of introduction and the direction of development. From the customer perspective, mobile banking has many strengths. For example, it allows that all customers access banking service at anytime, anywhere more easily than telephone banking or pc banking. And it reduces the time and the effort for using the service. It enables the company to make a business against global customers. On the other hand, from the company perspective, it has a lot of potential that affect market share and reduce the costs of human and material resources which used to operate and support branches. However, it needs many efforts to reach at the stage of completion. And We will have to solve the problems that develop many contents, expend the range of services and raise the service convenience.

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A Study on Conflict Management Model for IS Integration: Focusing on Banking Industry under M&A (조직간 정보시스템 통합을 위한 갈등관리모형: 은행업종의 인수.합병을 중심으로)

  • Kim, Sang-Hoon;Choi, Jeom-Ki
    • Journal of Information Technology Services
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    • v.5 no.1
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    • pp.83-95
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    • 2006
  • The main objectives of this study are (1) to identify the conflict types in IS integration process with respect to M&A, (2) to propose the ways to manage the origin of conflict to be expected, and (3) to develop the conflict management model which establishes the relationship among the M&A strategy, the IS integration strategy and change management process that influence the source of conflict. In order to achieve these research objectives, this study focuses on banking industry under M&A with the viewpoint of change management instead of existing technology-oriented IS integration strategy. The findings of this study are thought not only to be useful as a practical guideline in carrying out IS integration project under M&A but also to provide significant basis for constructing the theoretical framework of effective IS integration strategy.

How Does Intellectual Capital Fuel Non-Interest Incomes in Banks? New Case from an Emerging Country

  • Chi Huu Lu;Thich Van Nguyen
    • Journal of Contemporary Eastern Asia
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    • v.22 no.1
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    • pp.1-25
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    • 2023
  • The aim of this study is to answer the straightforward question of whether the implementation of IC has fueled non-interest incomes of banks or not. By utilizing the data of 26 domestic banks in Vietnam and employing the value-added intellectual coefficient model (VAIC) as the measure of IC efficiency, our empirical evidence manifests that IC plays a vital role in fostering non-interest incomes of banks. When dividing VAIC into different components, we find that structure capital employed (SCE) is the most important component to enhance the expansion of these incomes compared with other components including capital employed efficiency (CEE), human capital efficiency (HCE). These findings remain unchanged through some robustness tests performed. While the main driver of IC and SCE, CEE component becomes a substantial advantage to increase non-interest incomes in large banks. Meanwhile, the degree of impact of SCE is higher in small banks compared with large ones. Overall, this study would provide a deep insight into the role of IC in the transformation into non-interest income activities of banks in an emerging country, and therefore our findings would be useful for both scholars and policy-makers in Vietnam, where has undergone the period of major reforms in banking system.

A Case Study on the Usage of Mobile Banking Service (농협의 모바일 뱅킹 서비스 사례)

  • Kim, Byung-Gon
    • Proceedings of the Korea Database Society Conference
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    • 2010.06a
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    • pp.249-264
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    • 2010
  • Mobile banking is a subset of electronic banking which underlies not only the determinants of the banking business but also the special conditions of mobile commerce. Nowadays wireless networks are being evolved and diversified. In this situation The wireless e-commerce is in the limelight on new profits of Carriers. Because of this situation, the importance of mobile billing service is being emphasized. This paper searches the definition and service types of mobile banking, and suggests status and prospects of domestic mobile banking. We suggest the basic direction, the stage of development and functions of services by analyzing the cases of Nonghyup's. Finally we derive the critical factors from those and suggest the effect of introduction and the direction of development. From the customer perspective, mobile banking has many strengths. For example, it allows that all customers access banking service at anytime, anywhere more easily than telephone banking or pc banking. And it reduces the time and the effort for using the service. It enables the company to make a business against global customers. On the other hand, from the company perspective, it has a lot of potential that affect market share and reduce the costs of human and material resources which used to operate and support branches. However, it needs many efforts to reach at the stage of completion. And We will have to solve the problems that develop many contents, expend the range of services and raise the service convenience.

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The Effects of Image, Brand and Quality on Customer Loyalty of Sharia Banking

  • RIYADI, Slamet
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.3
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    • pp.1315-1325
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    • 2021
  • This study aimed to design a strategy in encouraging the loyalty level of priority customers of Sharia banks in Indonesia. The strategy was outlined in a series of alternative applicative programs priority. The use of ANP intended to simplify the existing problems so that the offered solution was easier to apply. Each item was scored on a 5-point Likert scale. The expected outcome was to give priority scales to the offered solutions. The findings of this study are service quality, brand image, bank image which could build customer loyalty in Sharia banks. Priority customer gathering could strengthen the bonds between customers and also between customers and their banks. The excellence of Sharia banks in terms of service quality, brand image, and bank image, when combined with priority customer gathering activities, would become a powerful formula in increasing priority customer loyalty to banks that lead to increased revenue from banks. Originality of this research was the formulation process of a new approach in search of ways to increase the customer loyalty, as well as giving concrete proposals for the banking world in designing customer loyalty improvement programs. This paper shows the updated strategy in Customer Loyalty, Bank image, Brand image, Banking service quality.

A Study on the Effect of the Internet Banking Service Quality on Trust of Bank (인터넷뱅킹의 서비스 품질이 은행의 신뢰에 미치는 영향에 관한 연구)

  • Lee, Jong-Ok;Seo, Young-Sang
    • Journal of Information Technology Applications and Management
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    • v.16 no.4
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    • pp.19-40
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    • 2009
  • In case of korea, it is said that the service of internet banking is in maturity regarding the number of transactions that internet banking process. So it is necessary to find out the factors that influence customer's trust on bank with the use of internet banking, to preserve existing customers. The purpose of this study is to investigate the effects of the internet banking service quality on trust of banks. For this purpose, eight hypotheses are empirically tested using logistic regression. The empirical results indicated that responsiveness, easy of use, and accuracy from the six dimensions of internet banking service quality factors take significant effect on trust of bank.

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The Study on Service Model through the Case Study of Internet Bank (인터넷 뱅킹의 사례연구를 통한 서비스모델 구현에 관한 연구)

  • Park, Chong-Don
    • International Commerce and Information Review
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    • v.7 no.1
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    • pp.75-94
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    • 2005
  • With most major full service banks having launched transactional Internet banking, attention is shifting to the realities of managing the Internet channel as a profitable component of an overall delivery strategy. In addition to examining Case Study and Internet Bank Model. Services of Internet Banking available through the Internet are as follows. 1. credit card loans, personal loans. 2. high-yield financial products. 3. insurance products. 4. securities products. 5. Case study of Foreign Internet Banking(ING, BNP, HSNC, City Bank). The study reviewed fields, including financial services, customer service, Website formation and design, convenience of use and system safety, Internet Banking Model, and many related areas. Internet Banking earned high marks in most fields. This study review focuses on the following: Understanding and meeting consumer expectations for us ability, site performance and functionality. Integrating the Internet channel into overall marketing, product delivery and customer service strategies. Strategies to increase customer satisfaction with Internet Banking and to attract new Internet bankers. therefore this study review activity model concretion of Internet Banking Model and Case Study.

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Major Criteria for Channel Selection in Banking Transaction

  • Cho, Nam-Jae;Park, Ki-Ho
    • Journal of Information Technology Applications and Management
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    • v.16 no.1
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    • pp.169-183
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    • 2009
  • The purpose of this research, based on the Media Selection Theory, the Technology Acceptance Model, and the Social Influence Theory, is to investigate the influential factors that affect media selection in banking transactions. Analyses showed that for location sensitive bank windows and ATMs(automatic teller machines), defined as offline-based transaction channels, convenience was the variable affecting media selection. However, in the case of online media not related to location, (phone banking, internet banking, and mobile banking) reliability was the significant variable influencing use. The findings show that banking organizations may benefit from identifying traits of media affecting use, and should differentiate customer services for competitive advantage.

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