There are various issues discussed in the case. These issues will be highlighted below:
-The foremost challenge was the seamless promotion of the existing banking system and channels for the installation of new state-of-art IT infrastructure. In this regard, the changes made to the structure and functioning of the financial institution challenged the regulatory structure of the bank. -Furthermore, the subsequent development of innovative banking products on the skeletal framework of information technology. -Another tactical goal on the banks strategic map was to fortify associations and interactions with private customers by offering better product delivery and in doing so harvesting the use of internet as a medium. -Initially the bank’s core banking system was product oriented, but the need of the hour was to develop a customer oriented system, because the challenge is to build customer loyalty, cross sell, and enhance repeat business.
-The industry is composed by a continuum of banks which produce a homogenous product — banking service. Domestic as well as foreign competition is violent. Not to forget the fact that ICBC has...