1) Alan analyzed customer profitability data from Pilgrim Bank and found that half of the bank's 5 million customers were unprofitable. His boss asked him to analyze whether online banking customers are more profitable to help decide whether to charge fees or offer incentives for the online channel.
2) Alan collected data on 30,000 customers including their online usage, demographics, account details, and profitability. He found the average profitability of online customers was slightly higher at $116.67 than non-online customers at $110.79.
3) While this suggests online customers may be more profitable, Alan realized he needs more analysis to determine if the difference is statistically significant and account for other customer characteristics that could
Dave Carrol, a musician traveled in United Airlines and finds his Guitar being broke due to poor cargo handling. The case tells about the events that followed and how United Airlines responded back and the customer service that was given to Dave and how he responded back.
Dave Carrol, a musician traveled in United Airlines and finds his Guitar being broke due to poor cargo handling. The case tells about the events that followed and how United Airlines responded back and the customer service that was given to Dave and how he responded back.
A Written Analysis and Communication report on the HBR case study Humour or Harrasment using the six-step problem-solving approach. Identified the key problem, suggested alternative solutions, Evaluation Criteria, Evaluation of options, Recommendation, Implementation plan, and Contingency plan.
The Chicken Coop Case Analysis Problem Statement Daryl Buckmeister, CEO of The Chicken Coop, must decide whether to invest in market research or any other.
Harvard Business School Case Study on Mountain Man Brewing Company by Shashank Srivastava, IET Lucknow under the guidance of Prof. Sameer Mathur, IIM Lucknow.
o enable a superior customer service experience in the multi-channel environment services and communication must be consistent and identical offers need to be made available to the same customer via different channels. Banks that can achieve this can expect a higher customer engagement. To make this happen Banks (Issuers) need to re-look at their operating models to make it leaner and more meaningful for their customers. Effectively, the times are a changing and the Banks need to keep up with changing playing field.
The payments landscape has changed significantly and bankers must adapt or be disintermediated by those changes. Check volume will continue to diminish, remote
deposit capture will continue to proliferate, and coin and currency are here to stay.
Online and mobile banking, coupled with increased ATM functionality, will drive consumer banking while non-bank payments and digital wallet services such as Apple Pay are becoming more widely accepted among both consumers and their financial institutions.
New regulations and increased regulatory scrutiny will continue to drive up banks’ costs, while new risks will necessitate improved governance, risk management,
automation, and compliance systems. Banks must re-engineer their commercial deposit products, operations, risk management and cost structures in order to remain competitive and profitable. All of this affects the way that businesses interface with their banks and the costs they bear as customers.
A Written Analysis and Communication report on the HBR case study Humour or Harrasment using the six-step problem-solving approach. Identified the key problem, suggested alternative solutions, Evaluation Criteria, Evaluation of options, Recommendation, Implementation plan, and Contingency plan.
The Chicken Coop Case Analysis Problem Statement Daryl Buckmeister, CEO of The Chicken Coop, must decide whether to invest in market research or any other.
Harvard Business School Case Study on Mountain Man Brewing Company by Shashank Srivastava, IET Lucknow under the guidance of Prof. Sameer Mathur, IIM Lucknow.
o enable a superior customer service experience in the multi-channel environment services and communication must be consistent and identical offers need to be made available to the same customer via different channels. Banks that can achieve this can expect a higher customer engagement. To make this happen Banks (Issuers) need to re-look at their operating models to make it leaner and more meaningful for their customers. Effectively, the times are a changing and the Banks need to keep up with changing playing field.
The payments landscape has changed significantly and bankers must adapt or be disintermediated by those changes. Check volume will continue to diminish, remote
deposit capture will continue to proliferate, and coin and currency are here to stay.
Online and mobile banking, coupled with increased ATM functionality, will drive consumer banking while non-bank payments and digital wallet services such as Apple Pay are becoming more widely accepted among both consumers and their financial institutions.
New regulations and increased regulatory scrutiny will continue to drive up banks’ costs, while new risks will necessitate improved governance, risk management,
automation, and compliance systems. Banks must re-engineer their commercial deposit products, operations, risk management and cost structures in order to remain competitive and profitable. All of this affects the way that businesses interface with their banks and the costs they bear as customers.
Transform research: The age of omnichannel banking 2015TransformUK
The death and destruction of traditional bank branches caused by digital and changing customer dynamics is widely foretold.
But even digital natives are dual citizens of the physical world. Branch location is still customers’ strongest reason for switching current account and retail customers still want branches for important elements of sales and service.
Retail is increasingly moving towards Omnichannel; enabling customers to do business on whatever mix of channels they choose. How channels are integrated is becoming as important as what channels are available.
This has big implications for banks. Too often today, it is almost as if the digital and bank branch experience is designed and built by different companies. In the future, digital will underpin how banks deliver great customer experiences across channels.
In this report we explore what drives the shift towards Omnichannel, how banks are performing today and a vision for Omnichannel banking in the future.
This presentation on Mobile Banking was given via webinar on May 3rd. The presentation goes into detail regarding predictions on consumer adoption of Mobile Banking.
Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty ...Cognizant
To stay profitable and grow in the new digital economy, banks need to adopt a customer-centric business model, diversify online delivery of products and services channels and begin making meaning from valuable trails of digital information.
Building profitable relationships with multichannel consumersPaul McAdam
Building Profitable Relationships with Multi-Channel Consumers is the first in a series of Consumer Insight Briefs based on primary research conducted by FIS™ Enterprise Strategy. The research findings are based on a 42-question, online survey completed by more thanover 4,000 U.S. consumers in early September 2010. The survey was fielded by FIS Enterprise Strategy to a consumer panel maintained by Survey Sampling International. The estimated margin of error rate for this sample is +/-1.6% to 2.3%.
Beyond Payment - E-Commerce Trends and Payment Challenges for Online Merchant...Lawrence Cheok
Written with e-commerce finance professionals in mind, this paper provides insights and recommendations for businesses interested in expanding their e-commerce operations internationally. It relates to online merchants needing to look beyond the web front-end and consider additional factors like back-office operations and banking infrastructure. Payment options discussed include e-wallets and mobile wallets, e-banking, and escrow payments, which are gaining favor in developing markets like China
How a Predictive Analytics-based Framework Helps Reduce Bad Debts in Utilities WNS Global Services
The utilities industry has been riddled with payment delinquencies for the past several years, forcing utility companies to trade off profits for survival, and give up on their rightful revenue by taking the ‘write-off’ route. An ‘integrated three-pronged revenue protection strategy’ aids utility companies in effectively minimizing bad debt write-offs. Predictive analytics lays the foundation for this strategy by enabling customer segmentation, revising collections tactics and enhancing customer satisfaction interventions.
Similar to Pilgrm bank (a) customer profitability (20)
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
1. Pilgrm Bank (A)- Customer Profitability
Alan Green looked at a chart on customer profitability that demonstrated that half of Pilgrm banks
five million customers were unprofitable. The word of his boss, Ravi Raman who had just left his
office, lingered in his mind.
Alan we have a meeting at the end of the week with Senior management to discuss our internet
strategy. There is a substantial disagreement in our group on whether we should start charging fees for
use of the online banking channel or if we should begin customer incentives such as rebates and lower
service charges to encourage greater use of the channel. The debate really hinges on whether online
customers are indeed better customers, and if adoption of the online channel actually produces better
customers. Why don’t you spend the weekend looking over relevant data. Lets meet Monday morning
to discuss your findings.
Alan met Raines an experienced analyst for his help- I need to do some analysis to figure out if the
online customers are better for the bank and what are the implications are for our online banking
product. As a first step I was thinking about comparing balance levels between online and offline
customers. Raines said – Balances are only part of the story. If you are interested in how profitable
customers are the look at profits directly. You don’t have to use balances as proxy for profit, as
balances are subset of our profitability measure. The two are related as follows:
Profits=Balance in deposit amounts* Net interest spread + fees + interest from loans – cost to serve
Customer accounts generated three types of revenues:
1. Investment income from deposit balance – This revenue was represented by net interest
margin-the rate the bank paid on deposit account and the rate at which it was able to invest
that deposit through for example commercial and mortgage lending.
2. Fee income –Increasingly important source of revenue in light of recent decline in net interest
margins fees were variously assessed for checking accounts, late payments and overdrafts.
3. Loan interests and base lending rates-Loans were the dominant asset in bank’s portfolio and
loan interest a primary revenue source.
The relevant costs included:
1. Transaction related costs – The costs of customer interactions with banks varied. A teller
transaction was generally more costly than a transaction that utilised an electron distribution
channel such as ATM network.
2. Allocated fixed costs –The cost of indirect supporting resources such as electricity, physical
infrastructure, salaries. These were fixed only in short term as increasing transactions or
demand reulted in banks investing in more resoruces such as braches, ATM, Call centers,
personnel and computers.
2. The relationship between balances and customer profitability is as shown in following graph:
Managing Profitability
Understanding profitability at the customer level was particularly important in retail banking because
customer transactions generated incremental costs but typically did not generate incremental
revenues. In addition customer behavious seemed to be a component of customer profitability. For
example given two customers with same checking accounts and balances, one who routinely called
the bank to see if checks had been cleared or visited an branch to get help with checkbook balancing
would be far less profiatble that one who rarely with the bank apart from writing checks. Banks had a
history of channel innovations begining with ATM more than 30 years ago, followed by 24 hours call
center, automated voice response and most recently online bamking. Each additional channel had
provided an opportunity to reduce cost per transaction over the previous channel. The irony was that
with the introduction of these lower cost channels came a higher overall cost structure as customers
increased the number of transactions with the additon of each new channel rather than replacing one
channel (the bank for example).
Reatil banks reacted to the extraordinary variation in customer profitability with a variety of
approaches to migrate customers from lower to higher profit tiers. Some customers for example
offered their most profitable customers discounts on mortgage rate or higher interest rate on deposits
and routed their telephone calls to specially trained personnel in the call center. Instituting fees for
certain services was an attempt to encourage customers to migrate their transactions from high cost
channels such as branches to lower cost channels such as internet and ATMs.
Energised by his conversation with raines, Green visited Erica- head of IT services and asked her for
customer data. She said “We have data on 5 MN customers. How many customers do you want and
what sort of information do you need besides customer profitability?”. Green said “Can you give me
30000 customer data?”. Erica said “That seems like a very large sample, but I am sure you know what
you are doing. I will also put some demographic information there”
3. Returning to his office Green sorted customers from most profitable to and charting percent
cumulative customers he created the profitability skew shown below:
Formatting the data and calculating the summary statistics Alan produced following table:
Summary Statistics from Sample Customers
Customer
ID
1
1999
Online
a
usage
1999
Age bucket
b
(1-7)
1999
Income bucket
c
(1-9)
1999
Tenure
(years)
9Profit
1
2
3
4
…
31,633
31,634
Mean
Standard
deviation
1999
Annual
profit
9Online
9Age
9Inc
9Tenure
1999
Geographic
region (1100,
d
1200, or 1300)
9District
21
-6
-49
-4
…
92
124
111.50
272.84
0
0
1
0
…
1
0
0.12
0.33
not available
6
5
not available
…
1
3
4.05
1.64
not available
3
5
not available
…
6
6
5.46
2.35
6.33
29.50
26.41
2.25
…
5.41
17.50
10.16
8.45
1200
1200
1100
1300
…
1200
1300
n/a
n/a
a
Online use: 1 = uses online banking; 0 = does not use online banking.
b
Age buckets are as follows: 1 = less than 15 years; 2 = 15-24 years; 3 = 25-34 years; 4 = 35-44 years; 5 = 45-54
years; 6 = 55-64 years; 7 = 65 years and older.
c
Income buckets are as follows: 1 = less than $15,000; 2 = $15,000-$19,999; 3 = $20,000-$29,999; 4 = $30,000$39,999; 5 = $40,000-$49,999; 6 = $50,000-$74,999; 7 = $75,000-$99,999; 8 = $100,000-$124,999; 9 = $125,000
and more.
d
The three geographic regions are designated 1100, 1200, and 1300.
Alan subsequently found that the average profitability of customers who used online banking was
$116.67 which compared to $110.79 for those who did not. Alan knew that he will have to determine
if the difference was meaningful but wondered what conclusions he might be able to draw. Did the
online channel make customer more profitable? And what did this imply for the management decision
regarding fees or rebates of the channel? Alan glanced at the columns of data on customer
demographics such as age, income and geographical region and wondered if there might be more to
the story.