OPERATIONS EXCELLENCE IN BANKING OPERATIONS AND ITS MEASUREMENT
SUBMITTED BY
SPEAKER INTRODUCTION:
Mr. Nagaraja Sastry who is presently a Consultant mainly for SME’s and MSME’s, having foreign and
domestic clients and has worked with 3 different banks namely ICICI, Kotak Mahindra and .He is the
former Vice President of Kotak Mahindra.
Operations Efficiency in Banks:
The various operational activities of bank include deposits, withdrawals, loans, opening of account,
updating of passbook, money transfer etc. The operational efficiency of a bank depends upon
optimal utilisation of
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Operational efficiency is to achieve economic growth at less technical and social cost by
maximising customer service delivery. Operational efficiency is important not only to acquire
customers but to retain them as the cost of acquiring customers is greater than cost of retaining the
customers.
Measurement of Operational Efficiency:
Measurement of efficiency of banking institutions serves two important purposes. It helps to
benchmark the relative efficiency of an individual bank against the best practice banks and secondly,
it helps to evaluate the impact of various policy measures on the efficiency and performance of
these institutions. Banks measure efficiency at every level i.e. zone level, cluster level and regional
TIME AND MOTION STUDIES: Time and motion studies have helped in measuring the efficiency of
banking operations in which the average time taken by a person to complete a transaction was
recorded for example, the time taken by a person to count 50 notes or 100 notes. Also it studied
where to place the counters, challans, deposit forms etc. for minimum movement required by
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of times they would suggest them to take a loan or if the account is
credited then it would suggest a fixed deposit with high interest returns to the customer.
AUTOMATION IN BANKING:
Banking operations when done manually take up a lot of time and effort from their staff as well
making them do routine activities over and over again leading to loss of productivity and missing the
chance to move up the value chain. On the other hand, automation reduces the redundancies in
their operations and frees up staff that can be deployed for activities that are more productive. This
is the reason why banks and financial institutions are among the largest users of IT.
The most important benefit of automation is that it increases or keeps the operational efficiency at
the same level but reduces the cost of transactions. For example, ATM’s charge Rs. 21 per
withdrawal from the banks but the first 5 withdrawals are free, others are charged by the
In this phase it will articulate what the system is supposed to do, it will carefully . In other words, analysis will articulate what the system is supposed to do. For the central ordering system, the analysis would carefully examine existing ordering systems and how to utilize the best aspects of those systems, while taking advantage of the potential benefits of more centralized
This toolset will drive operational excellence by creating consistent processes for both the plans and FEPDO. The dashboard and reporting features provide a real-time insight into key performance measurements to support informed decision making, the ability to generate configurable automated reports and schedule delivery of those reports. Workflow will provide the much-needed relief to supervisors who currently manually assign workflow processes and give them greater visibility into backlogs and claims inventory. It also eliminates the paper and email trail we currently use to manage assignments and employee progress; allowing Managers and Team leads to reallocate their time to other high value
The final principle is the tool must be reliable and valid, which I believe it
OBT Settings/Tables- review the current OBT time tables, settings, understand how to utilize the tables (defining the math used to calculate distance vs. time) in bookings. Switches- review multiple settings in the system that may need to be turned on or off. This was more related for the back end in the system to book trips properly and scheduling efficiency.
Week 5 Written Assignment Federal Reserve 1 Federal Reserve Tools Name Withheld University of the People BUS 2203 Instructor Joel Almanzar Week 5 Written Assignment Federal Reserve 2 In my essay this week we will explore the Federal Reserve. What monetary tool that is available to Federal Reserve is used most often, and why is it used? I will describe how expansionary activities by the FED impacts credit availability, money supply, interest rates, and security prices.
The Federal Reserve system is the central bank of all United States. The Fed, as it is commonly known, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, DC, the Board of Governors and 12 regional Federal Reserve Banks in major cities throughout the United States. (Staff, I., 2016) Their job is to make sure the money supplies grows to quickly or to slowly, monetary policy is used to help with the flow.
Organizational Structure Bank of America is an American financial services corporation and is the second largest bank holding organization by assets, in the United States. The headquarter of the financial organization is situated in Charlotte, North Carolina. The bank has approximately 5,700 retail banking offices and 17,250 ATMs in the United States. The online banking system of the bank has more than 30 million active users.
Collegiate athletes bring in so much revenue and money to the universities and do not get any financial credibility for it. To solve the problem of the athletes not being paid for the things 2 Works cited they do, the NCAA can give the athletes enough money to support themselves, or they can buy the necessities for them so they know the money is going to the right place. The most significant solution is giving the athletes enough money a month to support themselves. My solution is easily feasible because there is not that much money being spent on the athletes themselves.
Companies like FedEx use them to determine the effects of price change or new services, and has seen 65%-90% accuracy. This ability to determine the best solution before it happens is an incredible achievement. Making changes that aren’t well receptive can cost your business customers, reputation, and much more. Putting out the right plan the first time can save your face and more importantly, you cash flow. For the city planner, predicting which bus stops will have the
Quantity Surveying- This department deals with the running of contracted jobs and the information found here would consist of invoices, progress reports, valuations and labour reports. Explain the need for safe storage and efficient retrieval of information. Storing information could be in the form of filing, computer based or memory sticks. The need for storing any information is for easy retrieval in the future so that the person has the required information when needed.
Organizational Strategy and Objectives The foundation of Wells Fargo’s strategy is its focus on customers. The company’s strategy tends to drive the choices they make and also enable them to prioritize its efforts, differential from peers, and build a lasting value for customers, employees, communities, and shareholders. The diversified business model tends to provide the company with the stability and the strength as it assures communities and customers that it exists to serve them and also the future generations. The objectives of the company are to be the leader in financial services in areas of team member engagement, customer services and advice, shareholder value, innovation, corporate citizenship, and risk management (Wells Fargo n.d).
Strategic Quality and Systems Management Report Operations Management Operations management is now the most essential part in maintaining organizational systems. Actually operations management means all the necessary activities of an organization like finance, human resource management, research, marketing etc (Elnathan, 1995). Whether it is planning, leading, organizing or controlling, they all are part of an organization’s operations management. Because of the speedy change of the business environment, internal and external factors like market position, market value, possibility etc. (Stanton, 2001).
It relies on sets of numbers stored in electromagnetic format used to create representations and simulations that correspond to material performance and to map out built
However, financial performance subsists with different levels of organisation, which is concerned with measuring financial performance of organisation. These measures are categorised into four that includes profitability, gearing, liquidity or working capital, and investor ratios. However, the financial plan of organisation is associated with operating plan since financial plan involves revenue and expenses for the activities that are linked with each objective. Hence, the main reason, in monitoring financial plan is to audit the committee (Hasan, 2011).
I would frame the banking as an industry that is built on trust. Trust that is reaffirmed by the governments, and regulators. Banks have an imperative role in our economic growth, and development. Correspondingly, without the bank industry, there is no industry to replace them as the conduit for social and economic policy. Equally important, there is no industry to replace them as the key performer in creating our economies multiplier effect.