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Wells Fargo Bank Service Innovation and Design

Nainsi Sanchita Santhosh Vandana

most profitable in US • Known for Innovative delivery strategies of banking services • Online services (1989) • Internet banking (1995) • Wireless banking (2001) • Consumer Banking (2007) • 9 million internet banking customers .Background of Wells Fargo • 5th largest in assets.

Customers Expectations • Speed in transactions • Flexibility to meet individual requirements of customers • Accessibility through ATMs • Efficient phone banking systems • Online internet based services • Greater responsiveness .

• Full service brokerage account & independent online investing • Convenience of online trading with human financial consultant – giving a human face to technology • Dedicated corporate online financial services set up • Sensitivity to customers with disabilities – differentiated service through talking ATMs. and is a window to web-based electronic commerce. large print in written material .Focus: Online & Mobile banking • OBJECTIVE : Online banking to be promoted for reduced costs and enhanced customer satisfaction • Online portal is efficient for distributing new products.

• 3.000 ATMs across the country.Canara Bank • Canara Bank is a premier commercial bank in India. • Credibility lower than the other peer banks • Environment not young • Executives lack the ‘conversion drive’ or laid-back in their attitudes • Some degree of lack of awareness amongst existing customers about the range of services • Challenge – To compete with private banks in terms of service and accessibility • Strategy – to build up online banking through integrated operations eliminating the need for more ATMs .043 branches and over 2.

Technology to enhance customer satisfaction • Oracle Debacle • In 2009. • Flexcube was riddled with bugs in the system. which caused many delays and disruptions of service in all Canara Bank branches. • The bugs have since been fixed and Canara Bank is offering seamless online banking 6 . Canara Bank purchased Oracle Financial Services Software Flexcube as the core banking software in all of its branches.

ombudsman • Online trading link – www. fund transfers E filing of Income tax returns SMS alerts . Mobile banking Customer Education – phishing. NRI deposits .Canara Bank Offerings • • • • • • • Online retail and Corporate banking Anytime Anywhere Access Account details Bill payments. citizens charter.in • Updated interest rates for domestic.canmoney.

HDFC Bank • • • • • • • 761 branches 1977 ATM’s in the country 327 cities in India All branches are OLRT connected 16 branches in Middle east 6 in Africa Representative offices in Hong Kong. NewYork. London & Singapore .

Product innovation .Perceptions & Positioning • Friendly and reliable bank • Leader in deploying technology in its services • A leader in the personal loans productsModern and technologically ahead • Proactive & prompt • The ‘Generation Y’ of Banks • Good network of branches and easily accessible • At par with international / MNC banks • HDFC Bank has positioned itself as a bank which gives higher standard of services through product innovation for the diverse need of individual & corporate clients. So they want to highlight following points in their positioning segment : Customer centric .Service oriented .

e loans Resource center for NRIs and other important customers EMI and Insurance calculator Customer care Fair Practices Code Mutual Fund and other financial instruments Market Tracker Corporate Governance norms Emphasis on security of banking transactions Security in banking. is encrypted . to a large extent. The data that is being transferred to the regional centres or from internet banking request. is built into the software or the application itself.HDFC Bank Offerings • • • • • • • • • • • • Innovative interactive website giving details of Home loans.

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