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Improvement in ICT within Financial Institutions

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Introduction

Improvement in ICT within Financial Institutions In this assignment I will be discussing how customer experience of dealing with financial institutions improved with the help of ICT. I will be doing this by explaining the improvement and what the improvement have provided to the customers. Knowing that 10 to 20 years ago there wasn't much ICT within the banking institutions, which got aggregating to most customers because they will have to wait hours, before they were served. Now day's customers are served in minutes because they have improved services which bank institutions have invested millions of pounds to satisfy customers. The way it worked in the days without ICT in bank institutions is; * Confidential documents (account details) * Telephone (deal with enquires) * One-to-one conversation The methods used in the past years was time consuming to all customers because they had to waste hours of there time to sort out problems, for example the 'one-to-one conversation' the customers to open up an account had to book an appointment take ID with them and fill in forms which is a waste of time. ...read more.

Middle

3. Bank websites: Bank website is an interactive guide to customers who prefer banking online, it is a service which is efficient and simple to use. 4. Promotion advertising: Promotion advertising is a way of introducing a new brand for a company; it aims to attract their target market to increase their interest for their products. 5. Chip and pin: Chip and Pin is a newly introduced product to the public, it is designed to take over the signature process when purchasing goods from any company. it is designed to be secure and to kill credit card fraud. All these services and products have increased the demand for the services provided from the banks. The services have satisfies customers in all ways the reason being is that all the services and products are designed to fasten up the process of the banks and to always be secure at all times. I will be explaining the advantages the services and products have brought to both customers and the bank institutions. ...read more.

Conclusion

Internet Banking: Internet banking for the customers has made life relaxing because it is a time consuming service which is one of the reason customers are satisfied, another reason is that with this service the bank provide allows customers to transfer money to a different accounts (internationally or UK based). This service is just bringing the bank to the customer's house. Down below It shows the internet banking section on the website of HSBC bank it provides a detailed summary of what is internet banking and what customers can do with this service. Also it provides other information as well internet banking. Chip & Pin: The latest investment of all banks to the customers which is one of the best one, the reason is because it prevent credit card fraud and is a faster process when purchasing goods from and store customers won't have to sign any more. This service over the years has saved customers thousands of pounds because it has brought credit card fraud to an end. ?? ?? ?? ?? Unit 14 Fatih Gaygusuz 13.1 ...read more.

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