Sruthi Reddy Amireddy
IST 7100 - IT Policy and Strategy
Introduction: Traditional banking system offers all the services through physical branches but whereas in case of E-banking the customers can perform basic banking operations or transactions electronically throughout the world. E-banking uses the Internet to provide all the services to the customers such as transferring funds, opening accounts, electronic bill payment. E-banking uses some functionalities of BI to make better decisions. Here we introduce a new service to improve the customer experience. E-banking facilitates easy interaction to the customers. This service matches the needs and preferences of the customers to the banking services and products, using business analysis. Thus, making the customers to experience a personalized, customized, and consistent services. The following are the sections included in executive summary to develop the project:
Mission: The mission statement is the foundation for the company’s major goals, shorter-term objectives, and day-to-day business operations. The following statement is the mission statement of Kiwi bank. To relieve poverty by providing or assisting the provision of affordable housing for low income persons and households in New Zealand (Mission Statement, n.d.).
The Problem: In case of traditional banking system the customer should walk to physical bank every time for performing banking services. E-banking provides convenient way to customers in order to perform banking services. The customers with Internet can sit in the home and can perform every transaction without walking to the physical bank locations. With the use of E-banking customers can save the time and can perform banking operations very quickly(IBM Support and downloads, n.d.) .
The need: E-banking offers easy of access, secure transactions, and 24-hour banking services. In today’s world, each and every person, businesses, organizations using E-banking. Each and every organization from small to large depends on E-banking for performing banking services.
The company: As of now, Citibank is a leader in E-banking, offering E-banking services through the World Wide Web. Citibank customers can access their bank accounts through the Internet all over the world. In addition to the core banking services such as account balance, electronic bill payment, funds transfer, inquiry, Citi bank also provides some other premium services that includes online stock quotes, financial calculators, and insurance.
The Solution: A thorough, adaptable business intelligence (BI) technique that gives more prominent knowledge into product advertising and client administration. Thus, Cognos of IBM Company was suggested in this regard. With the new IBM Cognos BI, Kiwi bank will have the capacity to acquire a unique or exceptional profile of every client and product analysis, administration and channel decisions. (IBM Support and downloads, n.d.).
The Target market: Any organization that runs are dependent on their customer base. In today’s modern world use of technology is phenomenal. Organization relies on latest technologies that are out there in market to satisfy customer needs and attract more customers. It is always evident that customer would be looking for exceptional services. Organizations leadership is expected to come up with innovative ideas and solutions to provide customer with exceptional experience to compete with other companies in the business arena.
The competition: HSBC (Hong Kong Shanghai Banking Corporation), BNZ (Bank of New