Business Proposal
Banking Software
ECO/561
June 17, 2013
Banking Software Business Proposal
Whether it’s Consumer banking or Commercial banking, specialized software applications can save any financial institution a lot of money by investing in a single system, and customer and employees alike would also benefit. Many banking institutions currently house several banking applications depending on the type of products, each application houses different products. If a customer is a sole proprietor, he or she may have personal accounts and well as business accounts. Not only will the customer have consumer and commercial products but the products will also vary. Commercial products can include commercial lines of credit for their business, a corporate card, and a commercial real estate term loan if they own the building location where their business operates out of. Consumer products may include a personal checking account, savings accounts, credit cards, and residential mortgages and home equities. Most banking systems house personal and business accounts separately and customers have to log into different systems in order to access the information. In addition, employees then have to log into an entirely different system than the customer therefore employee and customer are viewing different systems. This proposal is for one specialized application to house both consumer and business accounts for customers and for employees and customers to use one system as well with employees allowed different access. This will assist employees with customer service needs if they are able to view the same thing the customer is viewing.
Revenue Increase Providing such a product for customers will increase revenue because it will save money on updates and maintenance required to house several applications at once. Customer satisfaction will increase therefore increasing the amount of accounts because customers will want to have the convenience of housing all accounts in
ECO/561
June 17, 2013
Banking Software Business Proposal
Whether it’s Consumer banking or Commercial banking, specialized software applications can save any financial institution a lot of money by investing in a single system, and customer and employees alike would also benefit. Many banking institutions currently house several banking applications depending on the type of products, each application houses different products. If a customer is a sole proprietor, he or she may have personal accounts and well as business accounts. Not only will the customer have consumer and commercial products but the products will also vary. Commercial products can include commercial lines of credit for their business, a corporate card, and a commercial real estate term loan if they own the building location where their business operates out of. Consumer products may include a personal checking account, savings accounts, credit cards, and residential mortgages and home equities. Most banking systems house personal and business accounts separately and customers have to log into different systems in order to access the information. In addition, employees then have to log into an entirely different system than the customer therefore employee and customer are viewing different systems. This proposal is for one specialized application to house both consumer and business accounts for customers and for employees and customers to use one system as well with employees allowed different access. This will assist employees with customer service needs if they are able to view the same thing the customer is viewing.
Revenue Increase Providing such a product for customers will increase revenue because it will save money on updates and maintenance required to house several applications at once. Customer satisfaction will increase therefore increasing the amount of accounts because customers will want to have the convenience of housing all accounts in
References: Pricing & Non-Pricing Strategies by Different Companies. (2007). Chron. Retrieved from http://smallbusiness.chron.com/pricing-nonpricing-strategies-different- companies-12898.html