First Commercial Bank: Company Profile and

SWOT Analysis
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 Table of Contents
 Description

First Commercial Bank : Company Profile and SWOT Analysis

Synopsis

Timetric's "First Commercial Bank : Company Profile and SWOT Analysis"

contains in depth information and data about the company and its operations.
The profile contains a company overview, key facts, major products and services,
SWOT analysis, business description, company history, recent developments,
key employees as well as company locations and subsidiaries.

Summary

This report is a crucial resource for industry executives and anyone looking to
access key information about "First Commercial Bank"The report utilizes a wide
range of primary and secondary sources, which are analyzed and presented in a
consistent and easily accessible format. Timetric strictly follows a standardized
research methodology to ensure high levels of data quality and these
characteristics guarantee a unique report.

Scope

 Examines and identifies key information and issues about "First Commercial
Bank" for business intelligence requirements.
 Studies and presents the company's strengths, weaknesses, opportunities
(growth potential) and threats (competition). Strategic and operational
business information is objectively reported.
 The profile also contains information on business operations, company
history, major products and services, key employees, and locations and
subsidiaries.

Reasons To Buy
  Quickly enhance your understanding of "First Commercial Bank"
 Gain insight into the marketplace and a better understanding of internal and
external factors which could impact the industry.
 Increase business/sales activities by understanding your competitors’
businesses better.
 Recognize potential partnerships and suppliers.

Key Highlights

First Commercial Bank (FCB) is a banking service provider. The bank offers a
range of personal and business banking products and services to individual and
corporate clients. The portfolio of products offered by the bank includes business
accounts, personal savings accounts, and money market accounts, certificates of
deposits, individual retirement accounts, home mortgage, consumer loans, credit
cards, debit cards, life insurance and non-life insurance. Its services portfolio
includes long term and short term financing, special financial solution services,
investment advisory and services, mobile banking, on-line banking, ATM
services, branch banking services, locker services, money order services and
money transfer services. They also offered treasury management services,
institutional trust solution services, merchant services, risk management services,
government banking services, international banking services, family office
services and wealth management services. The bank operates as a division of
Synovus Financial Corp. FCB is headquartered in Birmingham, Alabama, the US.

SWOT Analysis Example for a

Bank
This example SWOT was generated using the SWOT analysis Excel template that you can
download for free on this website.

Strengths
 High service levels
  Highly automated systems
 IT/software expertise
 Easy access to capital and funding
 Solid financial reserves
 Effective sales and service culture
 Focus on internal marketing
 Team-based culture
 Clear segments targeted effectively
 Clear value proposition
 Effective CRM program
 Good understanding of the customer journey
 Strong share-of-customer
 Broad product range
 Attractive store design/layout
 Highly convenient locations
 Clear positioning
 Seen as having strong corporate social responsibility
 Easy-to-use apps
Weaknesses
 Poor cost efficiencies
 Mixed quality staff
 Targeting price elastic markets
 No distinct product features
 Undifferentiated products
 Limited engagement from marketing communications
 Have to price under the market
 No consumer connection to the brand
 Limited online advertising experience
 Limited social media success
 No expertise in creating engaging online content
 No real relationships with online “influencers”
 Broad competitive set
Opportunities
 Leverage our big data
 Develop a customer relationship culture
 Attract new customers through special offers
 Shift to a customer-centric marketing outlook
 Target more price inelastic markets
 Expand our product mix
 More clearly differentiate our product offering
 Broaden our geographic reach
 Build relationships with influencers
 Expand our number of stores/outlets
 Strengthen/clarify our value proposition
 Build online engagement with our brand
 Advertise on online comparison websites
 Build/acquire digital marketing expertise
  Creating more engaging social media content
 Become a disruptive innovator
Threats
 Becoming a market laggard or a me-too player
 Declining unit margins
 Rising fixed costs
 Consumers becoming more price sensitive
 Becoming a me-too player, due to product mix
 Excessive cost of big data
 Inability to grow the customer base long-term
 Poor ratings on review websites
 Being perceived as slow and outdated
 Aggressive price cutting
 Growing competitive set
 Many emerging new entrants
 Breach of data/privacy issues
 Disruptive technology
 High levels of inflation
 Online fraud
 Uncertain market conditions
Also see the example SWOT for Apple

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SWOT Analysis of the Banking Industry

JUN 5, 2019 BY KIESHA FRUE

The banking industry is one of the oldest industries still around today. It’s come
along way from the old bartering and exchange system. And yet, it still has a long
way to go. Even though most banks now offer online services so you can use do
most of what you need from home, this industry is still lagging behind. It’s not
meeting consumer demands or using updated IT infrastructure.

There are many positives associated with the banking industry though, as this
SWOT analysis of the banking industry will explain. Here I’ll discuss the strengths,
weaknesses, opportunities, and threats related to the banking industry, now and in
the future, based on the standard SWOT table.

Contents
 Strengths
 Weaknesses
 Opportunities
 Threats
 Final Thoughts about the SWOT Analysis of the Banking Industry

Strengths
What strengths does the banking industry offer to consumers?
One of the oldest industries.

So long as humans have been alive, there’s been forms of banking. Initially, it was a
bartering and exchange system, but now it’s much more than that. Banking teaches
us the value of money, gives us access to loans to reach our dreams, and provides a
host of other services related to credit cards, savings, and bonds.

A leader in economic growth.

It’s because of banking that we’ve seen such economic growth at home and
worldwide. Supply and demand have fostered this growth and also improved
financial trade, financial stability, and financial security. It’s also one factor behind
increased employment and the reduction of worldwide poverty.

Financial support after a crisis.

After experiencing a loss or natural calamity, the banking industry helps customers
get back on their feet. Insurance, investment, and loan options are to thank for this.

Digital banking convenience.

It’s now easier than ever to do banking online. You can deposit your check, pay your
bills, and apply for a credit card without stepping foot into your bank’s branch.
However, for more “in-depth” services, you’ll likely still need to make an appointment
with a financial advisor. Some things are better handled in-person than electronically.

Banks have plenty of competition. That’s why many are making their customers’ lives
easier by offering specific services like free credit score checks. The focus is about
improving regulatory compliance and asset quality.

Weaknesses
The weaknesses of the banking industry include the following:

Lack of worldwide coordination.

Because the banking industry handles finances, it’s a vulnerable industry. It also
relies heavily on the coordination of the economy, but this is a problem on a global
scale. Europe holds more than 50% of the global market. Should it face a recession,
the rest of the world (and banks) could suffer by proxy. Fluctuating currencies and
exchange rates can also be trouble for banks.

Old technology leads to vulnerabilities.

Many banks still use outdated IT infrastructure to host online services. For instance,
some banking websites don’t use case sensitive passwords or allow customers to
put special characters in passwords. This makes passwords extremely weak and
easy for hackers to brute-force into your accounts.

Considering it holds your life savings, most customers expect their banks to follow
updated policies, regulations, and infrastructure to keep their information protected.
And yet, it’s taking the banking industry too long to keep up with technological
advancements. Because of that, many banks suffer from digital vulnerabilities and
potential security bugs.

No access to rural areas.

Rural regions don’t have access to banking services. Part of this is because of
conflicts between government objectives and banking objectives. Another reason for
the lack of access is because providing services to rural areas can be more trouble
than it’s worth financially.

Opportunities
The banking industries have many opportunities within the industry and for
consumers:

Move into rural regions.

As mentioned in the weaknesses section, the banking industry hasn’t approached

rural areas yet. It’s an opportunity to get more customers, but achieving such a move
isn’t a small feat. It may take dozens of years before this approach is successful.

Offer more or lose customers.

Banks should keep up with consumer demands and demographic changes. Having a
banking app isn’t enough — consumers (especially millennials) crave more options.
Providing what people want will require heavy research from banks. It will also
require segmenting customers to create custom-service options. For instance, what
students opening their first account needs will differ greatly from homeowners or
business owners.

If banks fail to address the demands and desires of customers, they’ll lose them.
After all, there’s always another bank they can easily go to.

Threats
Just like any other industry, the banking industry also has its fair share of threats:
The biggest threat of all: recessions.

The biggest threat to any industry handling money is a recession. It’s the most
critical threat that can make or break a business. If small and big businesses fall, it’ll
have a direct consequence on the banking industry.

Data breaches.

With banks offering more online options, it also increases the risk for data breaches.
People give other websites like invoicing companies (like PayPal) access to their
bank to receive and transfer money. If these companies have a breach, it gives
hackers access to personal bank accounts. Although there is nothing banks can do
for breaches on other websites they can make sure their own is heavily protected
against hackers.

So much competition.

Banks have a ton of competition; not just with other banks, but with other alternative
finance companies. This includes mutual fund companies and insurance companies.
Millennials are especially receptive to getting financial services from fintech
companies rather than traditional banks.

Unlike banks, Fintech companies are proving to be more accommodating to

millennials needs (for instance, offering digital services, online banking, and building
a relationship with the user). The banking industry needs to change its approach if it
wants to keep the younger generation as customers.

Final Thoughts about the SWOT Analysis of the

Banking Industry
The banking industry is old, which proves its reliability. It’s there when we need to
get back on our feet after a natural (or man-made) disaster. It offers a variety of ways
for us to gain credit, save more money, and easily transfer funds when necessary.
But it’s also slow to technological changes and fails to meet the needs of the
younger generation.

The good news is that there are opportunities for where it fails. Banks can update
their infrastructure to remain secure; it can create new offerings to appease
millennials. It can also reach more people by spreading into rural areas. But the
industry must first look at its weaknesses honestly before it can make any headway.

Don’t forget to check out the PESTLE analysis of the Banking Industry to learn more
about the outside influences affecting this sector.

PERSONAL FINANCE
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 CAREER GROWTH
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 THE JUGGLE
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1. P ER SO NA L FI NA NC E
2. B UD GE TI NG

SWOT Analysis for a Bank

By John P. Gross Updated August 23, 2021





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A SWOT analysis of a bank formally evaluates the financial institution's strengths, weaknesses, opportunities and
threats.

A SWOT analysis of a bank formally evaluates the financial institution's

strengths, weaknesses, opportunities and threats. This analysis identifies
these four main elements to help upper management better leverage its
strengths to take advantage of future business opportunities while better
understanding its operational weaknesses to combat threats to potential
growth. A SWOT analysis can also address many other scenarios, such as
new business initiatives, marketing budgets or even advertising campaigns,
and is a valuable tool in bank management.

Identifying Existing Strengths

In the area of strengths, a SWOT analysis should list the areas where the
bank is succeeding and excelling in reaching its goals. These successes
should also be internal components reflective of the bank's physical and
human resources. For example, a bank's strengths may be its high client
retention, higher than average checking account balances, high-yield bond
rates, a user-friendly website, product line diversification, low staff turnover
and low overhead. These strengths are areas where a bank will want to
continue to maintain the status quo.
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Addressing Underlying Weaknesses

The weaknesses in a bank's SWOT analysis should list the areas where the
bank is falling short of reaching its goals or is non-competitive. These areas of
improvement should also be internal components reflective of the bank's
physical and human resources. For example, a bank's weaknesses may be
low customer satisfaction, poor website features, low staff morale, high loan
rates, low brand recognition or a minimal product line. In order to remain
competitive, a bank should focus on these areas of weakness to improve its
performance.

Realizing Potential Opportunities

The opportunities section in a bank's SWOT analysis should list the areas
where the bank has room for growth or could take advantage of opportunities
in the marketplace. These areas ripe for development should be external
components reflective of the current business environment. For example, a
bank's opportunities may include a growing economy, new high-yield
investment products, banking deregulation, less competitors in the
marketplace or an increase in the average savings rate. Identifying and
capitalizing on these areas of potential opportunity helps to keep a bank
competitive.

Assessing Possible Threats

The threats component in a bank's SWOT analysis should list the areas where
the bank has the potential to decline or be harmed by other factors in the
marketplace. These factors should also be external components reflective of
the current business environment. For example, a bank's threats may include
a declining economy, increased capital gains taxes, more competitors in the
marketplace, high unemployment or an increase in insurance rates. Although
external threats such as the aforementioned cannot always be avoided,
having awareness of possible threats allows the bank to try and mitigate them.

Creating the SWOT Analysis Grid

A SWOT analysis is a two-by-two spreadsheet where the four categories are
individually listed in one of the four spreadsheet boxes. The weaknesses will
appear in the top-right box, and the threats will appear in the bottom-right box.
The strengths will appear in the top-left box, and the opportunities will appear
in the bottom-left box. Identifying a bank's internal strengths and weaknesses
as well as external opportunities and threats ensures things are progressing in
the most optimal way possible.