BACKGROUND OF THE STUDY
For the past decade the banking sector of Ghana has seen revolutionary activities including influx of foreign banks into the country, increase in bank capitalization, re-categorization of banks into universal banking and the rest. These have heightened competition in the banking industry in Ghana. There have been the need for more sophisticated and advanced means of operating in order to be more effective and efficient in banks operations for their continuous survival. Thus, to widen and maintain market share in the Ghanaian banking industry in these periods of high competition, banks are require to be operating with the top notch level of technology which includes electronic banking and internet banking.
Electronic
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According to Furst et al. (2000) some of the reason for the increase in this aspect of banking are the notion that electronic banking and payments will grow rapidly, more or less in tandem with proliferating electronic commerce; industry projections that Internet banking will cut banks’ costs, increase banks’ revenue growth, and make banking more convenient for customers; and some vexing public policy issues. Chaven (2013) adds that internet offers customers faster access, more convenient and around the clock access to banking irrespective of the customer’s location and time. Salawu et al. (2007) adds that internet offers faster delivery of information from the customer and service provider, this adding to the importance of internet banking. Internet banking has therefore become an important channel to sell banks products and services according to Christopher et al. (2006) and Singhal and Padhmanabhan, (2008). This has affected marketing practices of banks in most countries, resulting in high performance in the banking …show more content…
It is highly expected that these products are supposed to improve the performance of banks. However, DeYoung et al. (2007) assert that lots of researchers have produced little evidence regarding these potential changes even though there exist good reasons to expect that the widespread availability of internet banking will affect the mixture of financial services produced by banks, the manner in which banks produce those services, and the resulting financial performances of those
Each product will be accessible through the use of a downloadable smartphone application. Through this application users will be able to turn their machines on and off from remote locations. Additionally, the machine will have a self-timer, so that it will turn itself off after a determined amount of time. This feature will save a tremendous amount of energy compared to the current machines. Additionally, the smart phone application will have a larger impact on the product than just being able to turn the machine on and off.
What was The Second Bank of America? Why was it such a huge deal in American history? Who supported it, and who did not? Why did it fail? This essay will help explain the answer to each of these questions about the Second Bank of America, or how it was more commonly called, The Bank of the United States, and will inform you of what is used for today.
I believe I should be chosen becuase I will bring a hard working persona, a great can-do attitude, and willing to take on any task. I am bilingual, so I can help assist our non-english speakers and I believe I have skills to persuade future customers to be part of Capital One. I am a very dedicated person who tries to always be the best as I can, meaning helping not only myself, to grow, but everyone around me. I strive to achieve many things and take my education seriously. I’ve always been in Honors classes and get good grades, currently I have a GPA of 3.4 but am striving to better myself and get a 4.0.
Internet is used everywhere in today’s world. In US many people are making purchases online and beginning to take advantages of the online shopping at their fingertips and convenience. Online shopping has changed the way we shop in today’s world. Gone are those days when people had to wait in queue on special occasions. Today consumers can buy almost anything at any given point of time.
The application will also provide customers to streamline the shipping process with real-time tracking capabilities. Shipments can be managed more effectively which is an important advantage to the consumer. A paperless invoice system will be established to allow customers to create electronic transmissions. This system will enhance the process of international shipping. The
Bank of America: Mobile Banking This essay is based on the case “Bank of America: Mobile Banking” which is dated on May 2012. We will first present benefits mobile banking provide to consumers and highlight reasons why many consumers haven’t adopted mobile banking yet. Furthermore, we will look into Bank of America motivation to offer mobile banking to its customers and review associated costs and risks of mobile banking implementation. Then understand what lessons can the bank learn from its online banking operations and analyze costs and benefits of having customers migrate to online banking.
On the other hand, in this dystopian society it is frowned upon NOT to be on electronics. People are expected to have thing like
To begin, The Wells Fargo cross-selling scandal arose from the opening of millions of fake savings and checking accounts on behalf of Wells Fargo customers without their permission. The deception became widely known in late 2016 when the corporation was penalized a total of US$185 million by different regulatory organizations, including the Consumer Financial Protection Bureau (CFPB). Additional civil and criminal proceedings are expected to cost the corporation $2.7 billion by the end of 2018. The establishment of these bogus accounts is still having legal, financial, and reputational consequences for Wells Fargo and former bank officials as late as November 2022 (Wikipedia contributors, 2023). Importance of Ethics in Managing Business
Online banking makes banking, depositing, and handling money easier, and in some ways, saves everyone from making a trip to the
While most boys spend their time hanging out with friends and, practicing sports, Alex Lin decides to use most of his time recycling electronics, and refurbishing it.
Different use of electronic instruments (e.g. electronic piano, electric bass, electric guitar) 2. Electronic adjustments on acoustic instruments. 3. Pays more attention to detail on the studio recording technology and the process of recording. 4.
(motorautority, 2015). New designs in the electronic businesses had a huge
Based on the products offered by Barclays most of the customers seem to be getting what they envisioned while contracting the services offered by Barclays. Though the profits have dipped, the continued increase in the number of customers to approximately 48 million worldwide, is a major indicator of a firm offering value for their client’s money. Rarity is another way to evaluate the strength of the strategy. With the growing financial market and increased spending on research, many competitors, have found methods to be at par with institutions like Barclays in technology and management. In products provided, there is no unique product setting Barclays apart from the rest.
2.0 SITUATION ANALYSIS Below are Malaysian banking industry’s external environment assessment using Porter’s 5 Forces Analysis. For the purpose of this assessment, 3 top-in-the-league existing domestic banking groups in terms of asset size have been chosen i.e. Maybank, CIMB, and PublicBank. All 8 domestic banking groups have operations in all the 3 segments of banking businesses namely Commercial, Islamic, and Investment bank. Upon analyzing and assessing their immediate surroundings, the banking groups recognize the following important factors that would impact on their competitiveness. THREAT OF RIVALRY AMONG EXISTING BANKS • Too many players in the industry; Each banking group has to contend with 7 other domestic banking groups and 30 other banking intermediaries both local and foreign, comprising 19 Commercial, 8 Islamic, and 3 Investment banks.