Jumat, 08 April 2016

Business Banking in 2016

Hi readers!

Today,
Just like always,
Time goes by…,
But,    suddenly,
I realized it’s already April 2016.  (  -3-)(-3-  ) (‘o’)(~_~)?!
Anyway, we talk about banking (not baking) today in 2016.

    There are several types of bank divided based on its activity: The bank that deals mainly with individuals is generally called a retail banking, while a bank that deals with capital market is known as an investment banking, and a bank that only deals with businesses is known as commercial bank or business banking. Our main focus is the business banking. For furthermore information, business banking is a company's financial dealings with an institution that provides business loans, credit, savings and checking accounts specifically for companies and not for individuals.
    Right now, business banking face three critical battles: restoring customer trust, defending their payments business from new entrants and avoiding commoditization. Banks can only improve efficiency, customer relevance and profitability by reinforcing core business operations. The core business operations that needed to be achieved are optimized and differentiated branch network, sales force effectiveness, basic multichannel integration, and digital distribution.


Those cores will make space for growth for the bank, so that the bank can focus on the next path it needs to take.
    The next path it needs to take is to be one of three business banking models: The Intelligent Multi Channel Bank, The Socially Engaging Bank, and The Digital Ecosystem Bank. The first model uses analytical methods from the customers’ data to find customers’ financial needs, the second model uses social media to get closer to the customers, and the third one uses mobile to become the center of an ecosystem. The three models can be the resolution for improving bank’s performance and then effectively and successfully competing through 2016.

A short reflection from the writer about banking:
    Honestly, I don’t even know what I’m writing about there. But hey, I learned that there are many types of banking and banks. Business banking or commercial bank is only one of a kind that deals only with business companies, not individuals. At first, when I watched the video in the class last week (yes, this post was written based on a video provided by my English lecturer, Ms. Paskalina.), I didn’t know what the word “bank” in the video refered to. Like, I was totally ignorant that there are types of banks. That made me confused when I heard from the video, something like “bank is now turned into 3 models”, when what it actually meant was the future bank “should” be one of three models (it is also meant that someone/something suggests the idea of the three models). 
    I was also confused about the three models itself. The Intelligent Multichannel Bank? The Socially Engaging Bank?? The Digital Ecosystem Bank??? And their functions. I mean, it sounded a lot like ant man in the group of marvel movies, I was just not at all know there are stuffs like that (I admitted I am a bit old-updated here). So that were the time in the class I was just unconsciously blank-minded, then wondered around, and drown in my own thoughts. Until I searched again in the internet and I noticed what “the three models” refered to were the commercial bank, the one which deals with business companies, and not another type of bank.. *hmm.. that's why it talked about sales force effectiveness, optimized branch network, etc....*I thought. And... The three models are the models the “commercial bank” suggested to be, for its customers' sake. J J J



Thanks for reading!
Best of Luck J










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