Download or read book Achieving Quality in Financial Service Organizations written by Robert E. Grasing and published by Praeger. This book was released on 1988-09-16 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two consultants examine the need for increased attention to quality in this rapidly growing and changing field. Drawing on numerous examples of successful quality improvement programs in banks, insurance companies, and other organizations, the authors provide detailed suggestions for improving accuracy, timeliness and consistency in service delivery. Changing employee attitudes to reflect the organization's commitment to quality also is covered. Accounting professionals in financial service organizations, particularly at the management level, will want to examine this book. Journal of Accountancy As a result of the deregulation and diversification of the financial service industry, consumers in the 1980s can choose from among a wide range of options. As full-line services are offered by more companies--from banks to insurance firms to mail order and department store chains--competition has grown intense. Financial organizations must distinguish basically similar products and services from those of other companies in order to attract and retain today's increasingly sophisticated customer. This practical handbook, written by two experienced consulting executives in the field, shows how to compete successfully by improving the quality, selection, and delivery of services. Based on proven, field-tested methods developed by the Robert E. Nolan Company, a leading consultant to the banking and insurance industries, it presents clear, step-by-step methods for designing and implementing financial service packages that will satisfy customer needs.

Download or read book Six Sigma for Financial Services How Leading Companies Are Driving Results Using Lean Six Sigma and Process Management written by Rowland Hayler and published by McGraw Hill Professional. This book was released on 2007 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Helping you to use Six Sigma and other tools in a wide range of financial service applications; this hands-on guide features actual experiences from frontline managers and executives in financial services firms all around the world. --

Download or read book Operations in Financial Services written by Michael Pinedo and published by Foundations and Trends in Technology, Information and Operations Management. This book was released on 2017-12-21 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Operations in Financial Services establishes a framework for this research area from an operations management perspective. The first section presents an introduction and provides an overview of the topic. The second section establishes links between the current state of the art in relevant areas of operations management and operations research and three of the more important aspects of operations in financial services - (i) financial product design and testing, (ii) process delivery design, and (iii) process delivery management. The third section focuses on the current issues that are important in the financial services operations area. These issues center primarily on mobile online banking and trading in a global environment. The fourth section discusses operational risk aspects of financial services. The final section concludes with a discussion on research directions that may become of interest in the future.

Download or read book Achieving Transformation and Renewal in Financial Services written by Rohit Talwar and published by Woodhead Publishing. This book was released on 1999-05-20 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rules for survival and success have never been so unclear, the choice of strategies so uncertain and the pressure to act quickly so immense. Achieving transformation and renewal in financial services focuses on cases and concepts that describe how leading players in financial services have addressed the challenges of organizational transformation and renewal. It is a practical handbook providing a rich and diverse set of case examples on how companies have been rethinking and reshaping their business operations to ensure they remain competitive into the 21st century. Rohit Talwar also considers some of the strategic implications of competing in a continuously changing 'wired world' and how to survive and thrive in such a turbulent environment.

Download or read book Service Quality written by Leonard L. Berry and published by McGraw-Hill Professional Publishing. This book was released on 1989 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Creating Value in Financial Services written by Edward L. Melnick and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: Creating Value in Financial Services is a compilation of state-of-the-art views of leading academics and practitioners on how financial service firms can succeed in today's competitive environment. The book is based on two conferences held at New York University: the first, `Creating Value in Financial Services', held in March 1997, and the second, `Operations and Productivity in Financial Services', in April 1998. The book is essentially designed to be a compendium of leading edge thinking and practice in the management of financial services firms. There is no book today that has this focus. It contains ideas that can apply to other service industries. Topics addressed are increasingly important worldwide as the financial services industries consolidate and search for innovative new directions and ways to create value in a fiercely competitive environment.

Download or read book Financial Services Firms written by Zabihollah Rezaee and published by John Wiley & Sons. This book was released on 2011-06-09 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: Indispensable coverage of new federal regulatory reforms and federal financial issues An essential guide covering new federal regulatory reforms and federal financial issues Financial Institutions, Valuations, Mergers and Acquisitions, Third Edition presents a new regulatory framework for financial institutions in the post-bailout era. Provides valuable guidance to assess risks, measure performance and conduct valuations processes to create shareholder value Covers the protection of other stakeholders, including customers, regulators, government, and consumers Offers an up-to-date understanding of financial institutions, their challenges, and their opportunities in the post-Sarbanes-Oxley era Over the past decade, substantial changes have taken place in the structure and range of products and services provided by the financial services industry. Get current coverage of these changes that have transformed both traditional organizations such as banks, thrifts, and insurance companies, as well as securities providers, asset management companies and financial holding companies with the up-to-the-minute coverage found in Financial Institutions, Valuations, Mergers and Acquisitions, Third Edition.

Download or read book Financial Services Management written by Stewart Falconer and published by Routledge. This book was released on 2014-03-26 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sweeping changes have taken place within financial services over the course of the past thirty years in response to a variety of influences, such as changes in customer attitudes, an evolving regulatory environment, innovations in information technology and the intense level of competition within the sector. In addition, the global financial crisis has had a huge impact on the perceptions of stakeholders and on the reputations of organisations operating in financial services. This new textbook introduces management with a focus on concepts, theories and skills particularly suited to the financial services sector. Beginning with an overview of the development of management theories through history, the text then focuses on topical issues such as organizational design, the use of information technology, the development of a marketing orientation, social responsibility, ethics and, the influence of the external business and social environments and organizational development and the management of change. This practical textbook mixes theory with application throughout - employing a variety of case studies and examples to render the topic both accessible and memorable. The result is a resource that will help lecturers teaching management skills and students keen to develop their financial services understanding.

Download or read book Corporate Governance and Accountability of Financial Institutions written by Jonas Abraham Akuffo and published by Springer Nature. This book was released on 2021-01-06 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: The presence of sound corporate governance in a financial institution is important in maintaining the confidence of both the market and the public. The power that corporate governance holds over the success of some of the largest financial institutions in the world is not to be downplayed. This book methodically assesses the quality of corporate governance and mechanisms of accountability disclosures to various stakeholders. It is further intended to provide fresh insights into some specific corporate governance recommendations to help improve good governance in financial institutions, particularly in the United Kingdom and the EU but will also be applicable to other major economies. It explores what, when and how corporate governance has changed the financial institution functions and corporate executive behaviour by critically reviewing the pre- and post-financial crisis theoretical and empirical literature. Increasingly driven by the nature of complications, complexities and opacity in the operations of financial systems, corporate governance reporting plays an important role in the financial sector. It will provide insights into corporate governance disclosures over a long-term basis. This book should be a valuable asset to support the research of practitioners, students and all academics due to its stimulating and reflective insights into this fascinating topic.

Download or read book Financial Services Industry Issues written by United States. General Accounting Office and published by . This book was released on 1992 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book New Strategies for Financial Services Firms written by Dennis Kundisch and published by Springer Science & Business Media. This book was released on 2003-06-11 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The German financial services market is in deep crisis. Deregulation and the new means of communication have fostered competition and made the market a transparent level playing field. Moreover, customers increasingly demand individualized solutions to their financial problems. Many financial services providers reacted by merging to realize scale effects and adapted "me-too-strategies" that will not provide for a competitive advantage. In this book, the life-cycle-solution approach is presented. This anti-cyclical strategy puts the customer and his life-cycle in the center of interest, in order to service him according to his latent needs - wherever it is economically sound to do so. However, this book does not stop at the strategic level, but presents two concepts that help to better utilize customer relationships. Using IT as an enabler, the quality of financial advice can be improved and at the same time cost can be lowered due to streamlined consultation processes.

Download or read book Lean Six Sigma in Banking Services written by Vijaya Sunder M and published by Springer Nature. This book was released on 2020-05-05 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores a range of prospective avenues, models, and operational and strategic approaches to Lean Six Sigma (LSS), a contemporary Continuous Improvement (CI) practice for achieving a quality-based competitive edge in organisations. Lean Six Sigma project case studies from banking organizations help to illustrate the operational dimensions of LSS, while the case-specific and cross-case analyses presented here demonstrate its strategic value. While the case data used to arrive at the findings come from the Banking firms, it allows generalizability beyond the Banking and Financial Services sector. The book contends that LSS is not merely a CI practice, but a higher-order organizational capability, more precisely a dynamic capability, that allows firms to gain a competitive edge based on quality. Addressing the interests of practitioners and researchers alike, the book strikes a balance between theory and practice. For practitioners, it offers guidance on using LSS to gain a competitive advantage, and on evidence-based practice in quality management and operational excellence. For researchers, it presents a wealth of literature and expands the body of knowledge on quality management. Accordingly, the book is of immense value to both practitioners and researchers, helping the former unlock the value of LSS as both an operational and strategic resource, and highlighting potential research directions and applications for the latter. “This book provides a deep understanding of Lean Six Sigma applications. It inspires by transferring the principles of the concept into uncommon areas of operations and management behind the usual quality and project management. While reading the book I got hit by a great idea of applying Lean Six Sigma in my digital business as well. My impression at the end of the book was that sky is the limit for the right employment of Lean Six Sigma, especially while viewing it from a dynamic capabilities’ lens. Readers of this book will surely receive insights for improving their business processes both operationally and strategically. Although the book is focused on banking, it is actually suitable for a really wide audience. This is a brilliant piece of research as a book that will serve as a guide for transformation by the prism of Lean Six Sigma.” - Professor. Dr. ZornitsaYordanova, Chief Assistant Professor of Innovation Management, University of National and World Economy, Sofia, Bulgaria “Lean Six Sigma needs to be understood from a systems perspective and there exists a huge knowledge gap in this area of finding holistic solutions to business problems. This book is a very welcome work that addresses this call. It integrates quality management resources and dynamic capabilities view towards practice. Banking and Financial Services was aptly chosen as it has the most direct applicability for social enterprises. Anyone interested in creating more impact with less will surely benefit from reading the book” -Alex Abraham, Chief Executive Officer, Lean Success Partners, Winnipeg, Manitoba, Canada “The book is a refreshing booster to the world of Quality Management especially in the context of Banking and Financial Services. Concepts and terms like “Rapidness of Lean & robustness of Six Sigma to solve operational problems” “Hybrid methodology” resonate very well with what we do in the industry today. Another interesting fact about the book is applying “Dynamic Capabilities approach” to Quality Management, that sets a fresh Quality Oven and ensures this book is definitely a good investment of authors’ intellect.Best part – Even if a reader is new to the world of Quality,this book will be appropriate and resonating. For Researchers and Practitioners, both being leaders orfresh entrants, this book stands out to be a must-read, as it demonstrates the success of the Lean Six Sigma methodology via case studies and practical applications.” -Udit Salvan, Director, Global Transformation & Engineering Network,An American Multinational Financial Services Corporation, New York, USA

Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Download or read book The Service Profit Chain written by James L. Heskett and published by Simon and Schuster. This book was released on 1997-04-10 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this pathbreaking book, world-renowned Harvard Business School service firm experts James L. Heskett, W. Earl Sasser, Jr. and Leonard A. Schlesinger reveal that leading companies stay on top by managing the service profit chain. Why are a select few service firms better at what they do -- year in and year out -- than their competitors? For most senior managers, the profusion of anecdotal "service excellence" books fails to address this key question. Based on five years of painstaking research, the authors show how managers at American Express, Southwest Airlines, Banc One, Waste Management, USAA, MBNA, Intuit, British Airways, Taco Bell, Fairfield Inns, Ritz-Carlton Hotel, and the Merry Maids subsidiary of ServiceMaster employ a quantifiable set of relationships that directly links profit and growth to not only customer loyalty and satisfaction, but to employee loyalty, satisfaction, and productivity. The strongest relationships the authors discovered are those between (1) profit and customer loyalty; (2) employee loyalty and customer loyalty; and (3) employee satisfaction and customer satisfaction. Moreover, these relationships are mutually reinforcing; that is, satisfied customers contribute to employee satisfaction and vice versa. Here, finally, is the foundation for a powerful strategic service vision, a model on which any manager can build more focused operations and marketing capabilities. For example, the authors demonstrate how, in Banc One's operating divisions, a direct relationship between customer loyalty measured by the "depth" of a relationship, the number of banking services a customer utilizes, and profitability led the bank to encourage existing customers to further extend the bank services they use. Taco Bell has found that their stores in the top quadrant of customer satisfaction ratings outperform their other stores on all measures. At American Express Travel Services, offices that ticket quickly and accurately are more profitable than those which don't. With hundreds of examples like these, the authors show how to manage the customer-employee "satisfaction mirror" and the customer value equation to achieve a "customer's eye view" of goods and services. They describe how companies in any service industry can (1) measure service profit chain relationships across operating units; (2) communicate the resulting self-appraisal; (3) develop a "balanced scorecard" of performance; (4) develop a recognitions and rewards system tied to established measures; (5) communicate results company-wide; (6) develop an internal "best practice" information exchange; and (7) improve overall service profit chain performance. What difference can service profit chain management make? A lot. Between 1986 and 1995, the common stock prices of the companies studied by the authors increased 147%, nearly twice as fast as the price of the stocks of their closest competitors. The proven success and high-yielding results from these high-achieving companies will make The Service Profit Chain required reading for senior, division, and business unit managers in all service companies, as well as for students of service management.

Download or read book TQM in the Service Sector written by R.P. Mohanty & R.R. Lakhe and published by Jaico Publishing House. This book was released on 2008-02-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: The service sector contributes to the economy by absorbing surplus labor released from the agriculture and manufacturing sectors due to automations. It plays a positive role in maintaining economic stability. This sector covers many organizations such as health-care, education, banking, municipalities,etc. This book is about understanding TQM concepts and applications in the service sector.

Download or read book A Study on Customer Satisfaction Service Gaps in Selected Private Public Foreign Banks written by Prasanta Kumar Padhy and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The service sector has assumed greater economic importance over the past decade. India is fifteenth in services output. It provides employment to 23% of work force, and it is growing fast, growth rate 7.5% in 1991-2000 up from 4.5% in 1951-80. It has the largest share in the GDP, accounting for 60.7% in 2006 up from 15% in 1950. Currently, banking in India is generally fairly mature in terms of supply, product range and reach-even though reach in rural India still remains a challenge for the private sector and foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region. The elimination of this waste and meeting customer expectations are the major challenges facing managers these days in the service sector. This is why quality improvement is a vital concern for many service organizations. This paper examines the salient features of service quality, GAPS Model, SERVQUAL. Each model represents a different approach to quality improvement. The primary aims are to enhance understanding of “service quality” and to identify models that managers in the service industry can employ to improve quality. Also will examine the applicability of alternative measures of service quality in the developing economy of India and assesses related issues in that context. Quality is increasingly being seen as a key strategic differentiator within the financial services sector, with most major players undertaking some form of quality initiative. The present paper describes work undertaken to determine both retail customer and staff perceptions of those factors which determine service quality. We initially identify the models developed by Parasuraman et al. as being the most appropriate for modeling the data, but find that although the service gap model provides an excellent basis for analysis, the SERVQUAL model is of more limited value. Hence, an alternative basis for modeling service quality based on the three dimensions of process/outcome, subjective/objective and soft/hard have been described and modeled against the experimental data. The paper describes some conclusions of significance for retail banking in particular, and service providers in general. This study investigates the role that technology plays in banking and its impact on the delivery of perceived service quality. A sample of 440 banking customers was taken and 300 useable questionnaires were analyzed. The paper presents an empirical study of major quality improvement initiatives recently undertaken by two banks. It provides a useful comparison of the two different approaches, and contributes new evidence on the current debate concerning the validity of the SERVQUAL model. First, it outlines the implementation of the SERVQUAL model in the bank's subsequent quality improvement programme, as evidenced through the bank's customer satisfaction endeavors. Second, included for comparative purposes, the paper describes the adoption and implementation of the Crosby's total quality training programme. In both cases relevant evidence was gathered on staff attitudes. Given the long-term nature of these comprehensive quality programmes, any evaluation must necessarily be tentative, but both banks are able to report an improvement in service quality, and fresh evidence is provided in support of the SERVQUAL model. The paper argues that one theme that has emerged consistently in the recent services marketing literature is the importance of frontline employees in service delivery. The internal marketing concept is based on the belief that a firm's internal market/employees can be motivated to strive for customer-consciousness, market orientation and sales-mindedness through the application of accepted external marketing approaches and principles. This paper considers that the objectives of the firm could be achieved by aligning them with the values to frontline employees.

Download or read book Linking Quality to Profits written by John Hawley Atkinson and published by ASQ Quality Press. This book was released on 1994 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gives directions for companies making quality improvement an element of financial performance, and discusses tools and methods linking quality and the bottom line in companies such as Xerox Corp., Heinz Co., and Westinghouse Electric Corp. Covers strategic quality planning, quality-based cost management, cost-driver analysis, and project selection,