• Title/Summary/Keyword: Retail banking

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The Strategies of Francaise Business Model in Banking Services (소매금융을 중심으로 한 은행 창구 프랜차이즈화 전략)

  • Han, sun ho;Lee, jung kyu;Yu, jong pil
    • The Korean Journal of Franchise Management
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    • v.1 no.1
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    • pp.87-103
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    • 2010
  • Today, banks offer banking services to a large number of customers by a branch network spread all over the nation. The quantity and quality of services are advanced by fierce competition in their field. So they are attracting customers based on high confidence in the financial industry. In spite of these developments, the retail bank market currently does not satisfy customers demands and various desires. In this research, the problems with banking services were observed. It was proposed that the banking services apply a franchise business model. First, this proposal will reduce the business expenses by collaborating profits with head office of banks and affiliates. Second, it will offer greater satisfaction to the customers. Through the mutual collaboration with head office of banks and affiliates in this proposal, it is anticipated that banks will reduce their business expenses and improve services for customers by offering convenient and fast banking services. It is also expected that the banks will expand and make up their weakness through increased profit and customers will be provided additional services.

A Study on an Asymmetric Relationship between Quality Attribute and Customer Satisfaction (고객만족에 대한 은행서비스 품질속성의 비대칭적 영향력 분석)

  • Baek, In-Gie;Chun, Young-Ho;Lee, Chun-Seon;Choi, Young-Lak
    • Journal of Korean Society for Quality Management
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    • v.39 no.1
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    • pp.57-70
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    • 2011
  • The paper presents the results of a study on the determinants of customer satisfaction for a retail bank using the data of 2009 NCSI(National Customer Satisfaction Index, KPC). In doing so, it uses a revised version of the traditional analyses based on derived measures of attribute importance. The need for a revised methodology is prompted by the insights of the two- and three-factor theories of customer satisfaction, such as Kano's framework. Indeed, the evidence from 1635 customers of 6 Korean banks confirms an asymmetric relationship between attribute performances and overall customer satisfaction. The results from both a traditional and our revised approach are compared. While this approach can be applied across different industries, it should not be assumed that the numerical results presented in the paper apply to contexts with substantially different underlying characteristics. General trends and practical implications for banking services are reported in the conclusions.

A Study on the Design and Development of eCRM Using Financial Goods Recommendation Expert System (금융상품추천 전문가시스템을 이용한 은행의 eCRM 설게 및 구축 방안에 관한 연구)

  • Kim, Ha-Kyun;Jeong, Seok-Chan
    • The Journal of Society for e-Business Studies
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    • v.9 no.3
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    • pp.191-205
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    • 2004
  • In banking industry, as competition of retail finance is intensive, there appeared eCRM which is a kind of marketing strategy, not only screening good customers but also doing one-to-one marketing for improving customer royalty and satisfaction of goods and service of bank. The strategic importance of eCRM is increasing more and more. We studied bank to use the advantage of expert system and eCRM. The expert system is used as a tool to analyze eCRM. In this paper, first, we presented an eCRM system architecture using expert systems in banking business. Secondly, a bank financial goods recommendation system using expert system is designed and developed. Customers will receive the good quality financial services from the expert system and banks also will acquire the good quality customer data from the expert system.

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Sectoral Banking Credit Facilities and Non-Oil Economic Growth in Saudi Arabia: Application of the Autoregressive Distributed Lag (ARDL)

  • ALZYADAT, Jumah Ahmad
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.2
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    • pp.809-820
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    • 2021
  • The study aimed to investigate the impact of sectoral bank credit facilities provided by commercial banks on the non-oil economic growth in Saudi Arabia. Bank credit facilities are given for nine economic sectors: agriculture, manufacturing, mining, electricity and water, health services, construction, wholesale and retail trade, transportation and communications, services, and finance sector. The study employs annual data from 1970 to 2019. The study employs the Autoregressive Distributed Lag (ARDL) approach to identify the long-run and short-run dynamics relationships among the variables. The main results reveal that the overall impact of total bank credit has a significant and positive effect on non-oil economic growth in KSA. The results revealed that the effect of bank credit on the non-oil GDP growth in the short and long run was uneven. The study finds that all sectors have a positive and significant impact in the long run, except for the agricultural and mining sectors. Likewise, all sectors have a positive and significant impact in the short run, except for construction, finance, services, and transportation & communications. As a result, bank credit facilities in different sectors have played an important role in enhancing the non-oil economic growth in the KSA.

What Exacerbates the Probability of Business Closure in the Private Sector During the COVID-19 Pandemic? Evidence from World Bank Enterprise Survey Data

  • PHAM, Thi Bich Duyen;NGUYEN, Hoang Phong
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.6
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    • pp.69-79
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    • 2022
  • The purpose of the study is to look into the likelihood of private sector enterprises going bankrupt due to COVID-19 pandemic-related issues. The data for this study was taken from the World Bank's Enterprise Survey, which was intended to assess the impact of the COVID-19 pandemic on the business sector. This study uses the Ordinal Logit Method to analyze the model with dependent variables having ordinal values. The determinants reflect business performance, innovation, business relationships, and government support. According to the estimation results, a lower probability of business closures, illiquidity, and payment delays are found in businesses that maintain sales growth, operating hours, temporary workers, product portfolio, consumer demand, and input supply. Meanwhile, the increase in online business activities and receiving support from financial institutions and the government do not help businesses reduce the risk. Moreover, higher survival is found in manufacturing and developing countries. This implies the fragility of businesses in the retail and service sectors, especially for mega-enterprises in developed countries. In addition, the negative impact of the COVID-19 pandemic on businesses in Europe and West Asia is less severe than in other regions. The results imply policies to support the private sector during the pandemic, such as increasing labor market flexibility or rapidly implementing supportive policies.

Rebuilding Operational Risk Management Capabilities: Lessons Learned from COVID-19

  • JADWANI, Barkha;PARKHI, Shilpa;KARANDE, Kiran;BARGE, Prashant;BHIMAVARAPU, Venkata Mrudula;RASTOGI, Shailesh
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.9
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    • pp.249-261
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    • 2022
  • Globally, COVID-19 has significantly impacted many different organizations and people. From the banks' perspective, this pandemic has affected banks' corporate and retail customers. Also, banks had to adjust to distributed workforce model. This paper analyses the lessons learned from the COVID-19 pandemic, which can be effectively used to rebuild banks' Operational Risk Management capabilities. The present study used the survey research methodology, which includes structured questionnaires completed by senior banking professionals to analyze the learnings from COVID-19 and understand the distributed workforce model and remote working effectiveness. Findings: The Pandemic accelerated the pace of digital transformation. The lockdown imposed due to the pandemic led to employees working remotely, which has been effective because of enhanced digital capabilities. However, enhanced monitoring is required to prevent data-related issues, and action needs to be taken to address challenges faced in having a remote distributed workforce model, like negative impact on on-the-job learning, data-related risks, and employee wellbeing. COVID-19 is an unprecedented event that could not have been predicted in any scenario analysis. This crisis has highlighted various systemic drawbacks that need to be addressed. Banks can apply the lesson learned from this Pandemic to become more robust in the future.

The development model of PT Visionet Internasional (OVO) in Indonesia

  • Yuhang Xia;Yuming Liu;Myeongcheol Choi;Chuijie Meng;Haanearl Kim
    • International Journal of Advanced Culture Technology
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    • v.11 no.2
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    • pp.125-131
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    • 2023
  • OVO is a digital platform that provides simple payments and smart financial services, as well as one of the largest digital payment platforms in Indonesia. It has wide coverage and security when making payments, and supports multiple settlement currencies. The purpose of this study is to explore the history, business model, and future strategic direction of OVO, an Indonesian e-wallet. To date, OVO has built its own mobile payment ecosystem covering a wide range of consumer scenarios including e-commerce, travel, offline shopping and finance. And it supports mobile banking, online banking, debit cards or selected partner merchants. Its three largest transaction categories are in the transportation, retail and e-commerce sectors. With over 110 million consumers and 1.3 million merchant users, it is one of the dominant e-wallets in Indonesian market and has become the country's e-payment market leader. OVO eWallet's 'One Card' model offers convenience and choice for users, thus contributing to the rapid growth of OVO eWallet. And OVO eWallet competes fiercely with other competitors, but OVO eWallet continues to grow in terms of the number of users and market share. Finally, this study analyzes the strategic goals and plans of OVO eWallet, predicts its future direction. OVO eWallet has a huge success, but there are still competition and challenges to face.

A Theoretical Framework for the Study of the Affecting Factors on the Internet Technology Adoption at U.S Banks (미국은행의 인터넷 기술 도입요인 분석을 위한 이론적인 틀에 관한 연구)

  • 장용택;유상진
    • Journal of Korea Society of Industrial Information Systems
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    • v.5 no.3
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    • pp.94-110
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    • 2000
  • While most of the previous information technology adoption and diffusion researches focus the critical factors not on the organizational perspective but on the individual perspective based on the various reasons such as informational characteristics. This paper will try to analysis the adoption and diffusion factors of the Internet related technologies based on the organizational perspective. Nowadays, in especially, the evolving and fast diffusing Internet related technologies and the flourishing e-commerce applications pressure retail banks that prepare the new types of online payment systems to maintain their existing and new customer relationship and compete with their potential competitors in the coming market environments. In addition, while most previous researches only focus on the adoption of new information technologies, this paper not only analysis the adoption of innovational technology but also analysis the diffusion process in an organization, which encourage practitioners and researchers to reveal more detail and practical analysis of the innovational technology adoption and diffusion process in ann organizational setting. Based on the previous researches, there are several factor-category will be selected for this research: 1) organizational factor, 2) within banking industry factor, 3) non-banking industry factor, 4) customer acceptance factor, 5) government factor, and 6) the functionality of e-commerce systems factor. Finally, in this study, we assumed that the more sophisticated e-commerce adopting banks provide the more broad range of banking services in general. Thus, we develop the extended integrated technology diffusion model to provide empirical evidences to distinguish between adopters and non-adopters and explain the diffusion levels of e-commerce using the level of services provided via Internet to the customer in retail bank industry.

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A Study on the Location of Retail Trade in Kwangju-si and Its Inhabitants와 Effcient Utilization (광주시 소매업의 입지와 주민의 효율적 이용에 관한 연구)

  • ;Jeon, Kyung-sook
    • Journal of the Korean Geographical Society
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    • v.30 no.1
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    • pp.68-92
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    • 1995
  • Recentry the structure of the retail trade have been chanaed with its environmantal changes. Some studies may be necessary on the changing process of environment and fundamental structure analyses of the retail trade. This study analyzes the location of retail trades, inhabitants' behavior in retail tredes and their desirable utilization scheme of them in Kwangju-si. Some study methods, contents and coming-out results are as follows: 1. Retail trades can be classified into independent stores, chain-stores (supermarket, voluntary chain and frenchiise system and convenience store), department stores, cooperative associations, traditional, markets mail-order marketing, automatic vending and others by service levels, selling-items, prices, managements, methods of retailing and store or nonstore type. 2. In Kwangju, the environment of retail trades is related to the consumers of population structure: chanes in consumers pattern, trends toward agings and nuclear family, increase of leisur: time and female advances to society. Rapid structural shift in retail trade has also been occurred due to these social changes. Traditionl and premodern markets until 1970s altere to supermarkets or department stores in 1980s, and various types, large enterprises and foreign capitals came into being in 1990s. 3. The locational characteristics of retail trades are resulted from the spatial analysis of the total population distribution, and from the calculation of segregation index in the light of potential demand. The densely-populated areas occurs in newly-built apartment housing complex which is distributed with a ring-shaped pattern around the old urban core. The numbers and rates of the aged over sixty in Kwangsan-gu and the circumference area of Mt.Moodeung, are larger and higher where rural elements are remarkable. A relation between population distribution and retail trade are analysed by the index of population per shop. The index of the population number per shop is lower in urban center, as a whole, being more convenient for consumers. In newly-formed apartment complex areas, on the other, the index more than 1,000 per shop, meeting not the demands for consumers. Because both the younger and the aged are numerous in these areas, the retail trade pattern pertinent to both are needed. Urban fringes including Kwangsan-gu and the vicinity of Mt.Moodeung have some problems owing to the most of population number per shop (more than 1, 500) and the most extensive as well. 4. The regional characteristic of retail trade is analyzed through the location quotient of shops by locational patterns and centerality index. Chungkum-dong is the highest-order central place in CBD. It is the core of retail trades, which has higher-ordered specialty store including three big department stores, supermarkets and large stores. Taegum-dong, Chungsu-dong, Taeui-dong, and Numun-dong that are neiahbored to Chungkum-dong fall on the second group. They have a central commercial section where large chain stores, specialty shopping streets, narrow-line retailing shops (furniture, amusement service, and gallary), supermarkets and daily markets are located. The third group is formed on the axis of state roads linking to Naju-kun, Changseong-kun, Tamyang-kun, Hwasun-kun and forme-Songjeong-eup. It is related to newly, rising apartment housing complex along a trunk road, and characterized by markets and specialty stores. The fourth group has neibourhood-shopping centers including older residential area and Songjeong-eup area with independent stores and supermarkets as main retailing functions. The last group contains inner residential area and outer part of a city including Songjeong-eup. Outer part of miscellaneous shops being occasionally found is rural rather than urban (Fig. 7). 5. The residents' behaviors using retail trade are analyzed by factors of goods and facilities. Department stores are very high level in preference for higher-order shopping-goods such as clothes for full dress in view of both diversity and quality of goods(28.9%). But they have severe traffic congestions, and high competitions for market ranges caused by their sma . 64.0% of respondents make combined purpose trips together with banking and shopping. 6. For more efficiency of retail-trading, it is necessary to induce spatial distribution policy with regard to opportunity frequency of goods selection by central place, frontier regions and age groups. Also we must consider to analyze competition among different types of retail trade and analyze the consumption behaviors of working females and younger-aged groups, in aspects of time and space. Service improvement and the rationalization of management should be accomplished in such as cooperative location (situation) must be under consideration in relations to other functions such as finance, leisure & sports, and culture centers. Various service systems such as installment, credit card and peremium ticket, new used by enterprises, must also be carried service improvement. The rationalization and professionalization in for the commercial goods are bsically requested.

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Empirical Evidence on the Usefulness of Throughput Time (통과시간지표의 유용성에 관한 실증연구)

  • 육근효
    • Korean Management Science Review
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    • v.19 no.1
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    • pp.75-88
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    • 2002
  • In recent years, it Is necessary to develop an alternative measure, the time efficiency of management activities, as a more measurable and operational tool Instead of traditional accounting measures such as inventories turnover. Therefore the concept of throughput time has got much attention as useful tool for controlling time based management. The purpose of this paper is to investigate the usefulness and adaptability of throughput time. The sample consists of 212 non-banking firms listed on the Korean Stock Exchange. The test Period were 10 years(1989-1998). The regression analysis for this study was performed using the cross-sectional data for the sample, and it was also performed for each Industry. The results show that net Income to tonal assets and labor productivity (value added Per employee) variables in the model was signiflcantly associated with throughput time. On the other hand, the relationship between throughput time and logistics cost to sales do largely not have statistical significance. Especially, it is found that the relationship do not have significance or negative response in food & beverage industry and wholesale & retail industry. In summary, the results show that the measure of throughput time can be an effective managerial Indicator for time based competition and management.