Customer Service Strategy for Banking Industry

One of the things that separate a bank from another is its quality banking customer service. You see, customers love being treated nicely, which is why most banks are reeducating their personnel to do the best they could in making their clientele feel at home with their facilities.

This is not just for the reason of hospitability, providing quality banking customer service is a measured technique or strategy because clients these days don’t just look for great names for banks, but top of the class services.

With the hundreds or sometimes close to thousand clientele a bank has to serve on a daily bases, how does a particular bank handle this need? Here are some of the ways a bank makes each of its clients feel secured and at home in its facilities: Continue reading

Finding Best Career Path in Financial Industry

Switching your career a career in financial industry is a bit easy if you have what it takes to be one. For starters, you need to have at least a degree in fields related to finance, accounting, business, or economics. If you have a post baccalaureate degree or doctorate, these titles will preferably help but are not required.

Of course, you can always switch to a career in financial industry anytime and anywhere, but you still need to be certified before a brokerage or any financial company will trust you with a position in the industry.

For this, you will need the certification from the authorized agency that regulates professionals in the market, the Financial Industry Regulatory Authority (FINRA). Continue reading

Distribution Planning : Steps to Develop Good Distribution Planning

It is not easy to manage a business these days, whether you have a local storefront or an online business. The competition is tough and in order to keep up, you will need the right knowledge, skills, and thorough planning.

When it comes to getting the materials and products to consumers, you will need to consider distribution planning.

Distribution planning covers the delivery of materials to delivery points, and to the consumers.

The plan is focused more on the flow of materials and the stock levels. There are several techniques and philosophies followed by businesses to achieve their goals, which are as follows: Continue reading

Understanding Types of Bank Fraud

You have probably seen or heard the word bank fraud and conjured meaning to it but you didn’t actually have a close encounter with it. Bank fraud in Wikipedia simply means the process of obtaining assets, usually money or property from a financial institution or bank through fraudulent means.

You can put that to an example as a person acting to be employed in a bank and obtaining money, bond, or anything else from a depositor or investor of that bank. That person is therefore, committing a bank fraud.

So, how does a bank fraud works? There are so many ways on how it can be committed. It is basically categorized depending on the type of financial security that is being stolen or obtained from a depositor or investor. Continue reading

Capital Budgeting and Budget Management

Being in the financial industry will teach you more than you know in the entire business-related course you took up in college. Among these is knowing what, how, and when to do capital budgeting.

This term is simply investment appraisal or the process of planning the use of the company’s money in long-term investments.

These investments include purchasing new machineries to add in the company’s current equipment or as replacement to the old ones or other equipment.

Investing on new research development projects are also included in the list where capital budgeting is necessary. And so does with the manufacturer of new products and everything that is required in the process. Continue reading