The various business units comprised of 75%, while support functions made up for 12%, and operations for the remaining 13% of the total manpower strength of the Bank.
The remaining constituted the senior and top management. Approximately 83% of the employee strength was in the junior management category (which included trainees and probationers), while 14% made up the middle level management. The average age of the employee at ABC Bank was 31 years. The lifeline of ABC Bank were its people, growing at a very fast pace. The Value Chain Management Group also offered Supply Chain Finance Solutions to various Corporates and special products like loan against credit card receivables. Corporate banking relationships were offered at 20 locations across the country and total Banking Solutions to its corporate customers (Annexure). It launched a strategic B2B E-Commerce platform with BPCL to facilitate online payments from BPCL to its dealers, thereby enhancing corporate business through new-age technology and offering Supply Chain Financing Solutions. It had registered huge success as a collecting bank to several market IPOs that consequently leveraged the IPO financing business. A key achievement for the Bank was that it emerged as the highest distributor for two top Mutual Fund Schemes consistently in the past, thereby demonstrating the strength of the Bank’s distribution channel of TPD business. It also tried to tap potential rural market segments, which had not been explored by any other private bank. The Bank had collaboration with other organizations rendering related services –Insurance, National Saving Certificates and Post office Service –providing a platform to interact with potential customers as well as offering other services to its existing customers. The Bank introduced a SMS alert service, which gave the customers, updated information on any transaction. It was the first Indian Bank to provide – ATM Next (an information portal on ATMs) Instant Account Opening Talking ATMs GiftCard (Prepaid Gift Card) EasyFill (Instant Mobile Refill Service) – along with other services. It was the first private bank to enter and capture new markets. ABC Bank was a pioneer and an innovator in bringing state-of-the-art services to its customers. This, in the long run, propelled by a top quality management team, clearly set ABC Bank apart from its competitors.
Large investments had been made in back-end technology to strengthen processes, systems and control. In future, it would help ABC Bank to consistently deliver superior products, convenient access channels and efficient service to its retail and corporate customers. Investments in technology were a part of the plan to put in place building blocks for creating the right organizational infrastructure. The achievement of these significant milestones was consistent with ABC Bank’s continued focus to create customer and shareholder value through deployment of superior technology.
#Indian banks using finacle software
The bank also implemented Kondor – a treasury front office software from Reuters and ITMS – treasury back office software from Synergy Login. Finacle provided the critical technology platform to propel the bank’s operations with new thrust and direction. The entire Finacle rollout was remarkable, considering the fact that it was implemented across all branches in a record timeframe of 5 months. Keeping in line with its policy of leveraging technology to drive its business, ABC Bank deployed Finacle, the e-age banking solution from Infosys to consolidate its position, meet challenges and quickly seize new business opportunities. The promoter was a strategic investor in a plethora of institutions, which had revolutionized the Indian financial markets. The ABC Bank was promoted by the tenth largest development bank in the world, which had a magnificent record of promoting world-class institutions in India. The bank started its operations in November 1995. Thereafter, the Bank was incorporated under The Companies Act in September 1994. The Reserve Bank of India conveyed its approval in principle to establish ABC Bank on February 11, 1994.
Subsequently, the promoter of ABC Bank sought permission to establish a commercial bank and retained KPMG, a management consultant of international repute, to prepare the groundwork for establishing a commercial bank. Section I CASE I : BANKING ON RELATIONSHIP The birth of ABC Bank took place after the RBI issued guidelines for the entry of new private sector banks in January 1993. ANSWER SOLUTION: Note : Both the sections are compulsory.
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