1. Emrit NBD Objectives:
1.1. Increase Customer Accessibility
1.2. Ensure banking services are available to as many customers as possible, whether in urban or rural areas.
1.3. Enhance Customer Experience
1.4. Provide a seamless and fast experience that keeps customers satisfied.
1.5. Expand Market Share
1.6. Attract new customers and businesses by offering innovative services.
1.7. Build Loyalty and Trust
1.8. Foster long-term relationships with customers by delivering high-quality services.
1.9. Drive Digital Transformation and Innovation
1.10. Strengthen the digital presence to meet modern customer needs.
1.11. Achieve Sustainable Profitability
1.12. Use cost-effective channels to increase revenue while reducing operational costs.
2. Distribution Channels and Their Role in Achieving Objectives:
2.1. Bank Branches Objective Linked: Increase accessibility and build trust.
2.2. Analysis: Bank branches are traditional places that make customers feel secure and trust the bank. They are used for important services that need personal help, like taking loans or getting financial advice. Challenge: Running and maintaining branches is expensive.
2.3. ATMs and Objective Linked: Increase accessibility and boost convenience.
2.4. Analysis: ATMs let customers do important tasks like taking out cash, putting in money, or checking their balance anytime, day or night. They work well in busy areas to reach more people. Advantage: They cost less to run and are available all the time.
2.4.1. Challenges
2.4.2. ATMs can only do simple things like giving cash or checking balances. For more complicated tasks, like applying for a loan or getting advice, you still need to go to a bank branch.
2.4.3. More people now use mobile apps and online banking, so fewer customers need ATMs. This might make ATMs less useful and more expensive to keep over time.
3. Distribution Channels and Their Role in Achieving Objectives:
3.1. Online Banking and Mobile Apps Objective Linked: Drive digital transformation and enhance customer experience.
3.1.1. Online Banking and Mobile Apps Objective Linked: Drive digital transformation and enhance customer experience.
3.1.2. Analysis: Online banking and mobile apps let customers manage their accounts, pay bills, and send money anytime, from anywhere. They help the bank stay modern and reduce the need for customers to visit branches. Challenge: The bank must keep these platforms secure from hackers and make them easy for everyone to use.
3.1.3. Third-Party Agents Objective Linked: Expand market share and increase accessibility.
3.1.4. Analysis: Third-party agents help offer banking services in places where there are no bank branches. They make it easier to reach people in faraway or underserved areas. Challenge: The bank needs to make sure these agents provide good and reliable service to customers.
3.1.5. Payment Processors Objective: Build loyalty, trust, and achieve sustainable profitability.
3.1.6. Analysis: By providing options like card payments and digital wallets, NBD makes payments quicker and safer for customers. This encourages customers to use NBD services more often in their daily lives.