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Confidential Strictly for internal Circulation Only

ITEM NO. PUNJAB NATIONAL BANK MANAGEMENT ADVISORY SERVICES DIVISION HEAD OFFICE: NEW DELHI Meeting Date___________ MASD/EIC August 10, 2010

For Information
GIST OF THE PROPOSAL: Leveraging Technology For Superior Customer Experience. EXECUTIVE COMMITTEE

To improve our customer service and enhance our customer base, especially the high value customers, we need to change the way we interact with them. Some suggestions based on better utilization of internet technologies and digital communications are suggested hereunder : 1. Cocreation : Use of Web extends organizations reach and lowers the cost of serving customers. For instance, we can have customer support communities where more experienced customers give advice and support to those who need help. The most significant contributors may become visible to the community by showing the number of questions they have answered and the number of thanks they have received from other users. When customer communities handle an issue, the per-contact cost can be much lower than the cost to resolve the issue through traditional call centers. This can also be used for extending reach by using the Web for word-of-mouth marketing. We can also utilize our online/internet/mobile banking and other customers on similar lines. An upfront research to identify potential participants who have the right skill sets and will be motivated to participate over the longer term can be enlisted for this. 2. Socially networking the organization: Using social-networking, we can utilize valuable inputs and knowledge resources among our world-wide staff and other stakeholders. Using Web technologies to expand access to experts around the world, Bank can set up new innovation communities across separate business units. E.g. Retail Banking can set up an interactive website where country-wide practices being followed by our competitors can be posted by any employee which can be analysed and implemented or else countered in some better way by us. Social network can also help management in identifying the talent they need to execute projects across different business units and functions (including retired employees to broaden the pool of talent).

Confidential Strictly for internal Circulation Only

3. Collaboration at scale: Improved usage of collaboration tools like video conferencing can be a great cost and time saver. The savings on time and money on travel is more than often is much higher than the companys investment on such technology. Besides, customer interactions can be viewed by staff to get insights. Top Management can also become a part of Customer Meets as well as Staff Meets across the country without need of being physically present which is often not convenient due to their busy schedule. Such improved availability would certainly reinforce confidence levels, provide instant solutions to problems of field functionaries, generate greater ideas and create a better bonding between the corporate office and the field. Collaboration technologies like video conferencing have the potential to revolutionize organizations, expand their reach & empower employees and hence we should look into the ways to explore it more. 4. Experimentation and big data: What if we could analyze every transaction, capture insights from every customer interaction, and dont have to wait for months to get data from the field? There is a need to analyse big data available with the Bank through a multifunctional team of financial analysts, IT specialists and marketers. This way we can segment product wise customers for tailoring products to individual risk profiles. The team should conduct extensive surveys and experiment with combinations of market segments and new products. 5. Green IT Initiatives: To reduce the environmental impact of our IT, we should adopt green data center technologies to reduce the energy demand of the ever-multiplying numbers of servers needed to cope with data. Such technologies include virtualization software (which enables more efficient allocation of software across servers) to decrease the number of servers needed for operations. PNB as an organizations need to think strategically about adopting the above to improve delivery and keep in sync with customers expectations in this fast changing scenario.
Submitted for information, please.

(Reeta Kaul) Chief Manager

(B.L.Patheja) Dy. Gen. Manager

(Sushma Bali) General Manager (M.V.Tanksale) Executive Director

(Nagesh Pydah) Executive Director (K.R.Kamath) Chairman & Managing Director