1.2. Definition of Terms
In this guideline, unless the context requires otherwise;
A. “Account planning” means an activity that involves conducting in-depth reviews of current activity and future sales prospects for each major client and/or prospects of the bank. It is the process of building strategic plans to improve value-driven relationships with our key clients that can help to gain a more in-depth understanding in long-term development and retention, thereby maximizing the banks revenue potential;
B. “Bank” means the Commercial Bank of Ethiopia (CBE);
C. “Brand Positioning” means a unique space a brand occupies in the minds of customers or target market by associating emotions, traits, feelings and sentiments with it which makes it stand out from competitions;
D. “Business Entities” means a natural persons or organizations that are engaged in business or trading activities;
E. “Client Service Team” means a team that acts as a liaison between the bank and its customers and serve end-to-end needs of customers;
F. “Corporate Customers” means customers having better investable assets, trading transaction and return from business and high contribution for the bank’s profit. They are the upper class of wholesale banking customer segments of the bank;
G. “Customer Experience” means customers’ collective experience in interacting with various touch points of the bank or the accumulation of all the interactions that a customer perceived along the entire journey;
H. “Customer Facing Division” means unit of the bank which interacts with customers through all touch points, serve their needs and solve their problems on continuous basis;
I. “Customer Segmentation” means the approach of classifying a large and diverse customer of the bank to smaller groups based on related traits in order to identify and choose the most profitable customer groups to focus on;
J. “Customer Service” means giving support to customers during the use of the Banks products and services that help them to have a convenient and value adding exercise through all service channels;
K. “Customer Value Proposition” means the value that the bank promises to deliver to its customers and that clearly explain the bank’s customers experience when they do business with the bank;
L. “Customers” means wholesale Banking customers;
M. “Digitization” means the process of automating manual and time-consuming processes into digital formats with the adoption of technology;
N. “Hot lead’’ is someone who has an interest in the banks product, trusts the bank, and really just needs a small nudge to make the final decision. These leads want our product or service now and are willing and able to buy from us. A hot lead has a clear timeframe they are working within to implement the banks product or service as a solution to their problem;
O. “Institutional Customers” means wholesale Banking customers encompassing non- government organs, associations, regional and international organizations, embassies,