Talk:National bank

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Deleted from the article[edit]

Some central banks may have the words "National Bank" in their name, but this has no particular significance for the US. As US laws do no apply abroad, a Central Bank of a foreign country may be named National Bank of ... or Banque Nationale de ... or Banco Nacional de ... Retrospectively if a bank abroad is named in this way, it is not automatically considered a Central Bank.

I hope it is obvious why. Nikola 21:04, 29 September 2005 (UTC)

National Australian Bank[edit]

Executive Summary: In the contemporary scenario there is a lot of utilisation of online services by people. This has boasted the overall scene of E-Business across the world and has benefited both the customer and the companies in a huge way. This process is also been used extensively in the banking sector and most of the transactions today are made via internet. The online websites of various banks have gained tremendous prominence and in the following report we are going to analyse the website of NAB (National Australian Bank) and the impact of its website on its viewers and customers. This report also deals with various pros and cons of the particular website and how it can be improvised for a better customer experience and satisfaction.

Company Overview: The National Australian Bank (NAB) is a popular bank operating in 10 countries around the world. It has 40,000 employees in all its 1714 service centres and branches together. It is the world’s 17th largest bank and is considered to be the 8th safest bank in the world. This bank serves more than 8.3 million banking customers and around 2.3 million wealth management customers around the world.The bank has a total asset value of A$ 657 billion and its operating in as on September 2008 was around A$ 15.4 billion. This indicates the vastness of the bank and its huge financial capabilities. The bank has acquired more than15 other banks and institutions related to financial management and banking sector. This bank is one of the most successful banks in Australia and is closing in on other top banks to become one the prime banks in the world. The company has more than 460,000 shareholders and the company’s prime objective till date is to satisfy them by providing them with expected rate of returns. This bank was extremely firm throughout the core economic crisis period and it takes a lot of pride in it. They expect to deliver better services to their customers acrossthe world in managing both their personnel and business needs efficiently. They are planning to invest in the expansion of their banks as the recession is cooling down and hope to expand in UK, New Zealand, USA and many other countries in Asia. NAB believes in certain responsibilities that it feels towards its employees and customers as well that had kept it in a leading and secure position among different banks. They believe in providing fundamental rights and appropriate services to the customers in areas of ethics, customer service, security, fees and charges, etc. This bank concentrates on skills development and leadership of its employees and also encourages volunteering and diversity at workplace. NAB as part of their corporate social responsibility feels responsibility towards the education and is also adopting various environmental friendly activities. NAB is a huge success with the help of its strong organisational culture. They have a strong believe in the customers and give them a lot of credit for their current banking position in the world. They want to create sustainable, positive and long term relation with their customers. There are three factors which were mentioned by the bank that keeps them motivated:

  • Helping their communities and customers.
  • To be able to do the right thing.
  • Torealise the potential and provide quality services.

Other than NAB the bank has different brands and operates with different names in various countries across the world. This is due to the acquisitions that NAB was involved in throughout the world. In Australia the organisation functions under different brands like NAB, UBANK and MLC, whereas in UK it is Yorkshire Bank and Clydesdale Bank. In USA it operates by the name of Great Western Bank which provides insurance and other financial services with banking. The organisation runs with a brand name Bank of New Zealand in NZ and provides business retail and agribusiness support as well as different services and wealth management programmes. The Website: As internet banking has become an essential part of day to day banking, NAB has taken sufficient steps to keep the site simple and easy to access. The site is not only simple but also very stylish. The whole site has a white background and has a huge stripe of colour red at the top of the page. The top left hand corner the site has the logo of the company and the name of the bank is in short form i.e., NAB. Below the logo in the red stripe, regular news coats are updated regarding the services to the customers and these change from time to time when there is something important that needs to be informed to the customers. On the top right hand corner the options home, about us and contact us are present. The right hand side of the site starts with a search bar. Below that there is a small box which is provided for the purpose of logging in, to access the internet banking services. If the customer wants to log into other services then he must change the options besides the login option to other services like NAB connect, online trading, Margin lending or NAB transact. The login box is followed by four other small boxes right below each other on the left hand side. In the first box we can view the different interest rates regarding different loans and schemes which are followed by the options of term deposits and home loans. In the next couple of boxes below the first one show’s exchange rates and the following box shows NAB’s share price. The final box on the left hand side is for locating a branch in the area that the customer chooses. Coming to the centre of the page, below the news tags there are only two options i.e., Personal and Business. The customer can always browse the options related to the type of account he holds with the bank. The page opens with the personal options which are accounts, cards, loans, internet banking etc. The options can be changed by clicking on the business option besides the personal option. This has options like service sectors, insurance, investments, international trade etc. The business option is closely followed by the option your business which is followed by the options of a range of sectors where selecting a particular industries will open a page which clearly explains the services that the bank is providing to its customers.On the contrary, in personal options you can apply for different kinds of loans and know details about various kinds of banking. At the bottom of the personnel and business banking options there are two aspects where in one part there are advertisements on the developmental activities that the bank has taken up are explained and the other part is for corporate responsibility of the bank and how it has been helpful for various communities, society, etc. At the bottom the webpage there is a grey stripe which is slightly bigger than the red stripe at the top of the page. In this there are four columns where all the options of personal banking, about us, business banking and are available. Below these options the privacy policy and disclaimer page options are given in the statement confirming the copy right of the bank. Online Strategies and Services: As explained earlier the website is extremely simple and only stress on the banking and other related financial matters. This is what every website does but NAB has decided not to put everything in the home page and only provides options to various links and different banking customers. A customer can easily identify his area of concern, browse and engage himself in important online transactions. This site is not only for the existing customers of the bank but it also facilitates those who want to get involved with NAB in the future, with lot of essential information. This web unlike other banking websites provides various language options which enables better understanding to the customer about the existing online options world banking. At the time of recession in 2006 it had a record run of 10% increase in profits per annum. In the same year the bank had largest percentage of customer satisfaction among other banks around the world. NAB has very popular sponsorship brands in the world. One of its biggest sponsorships is the NAB AFL Auskick (one of the Australia’s biggest sports program). This was supported by NAB from 2000 and it rose around A$ 2 million. It was also one of the major sponsors for the Melbourne 2006 commonwealth games. NAB believes in supporting, encouraging, advising and helping people in boosting their confidence to achieve their goals. To make this possible it connects and communicates with customers and communities in the best possible way by giving them genuine and expert advice on issues relating to their management of their finance. Service Marketing Mix: This is an extended marketing mix with some three additional marketing strategies making it 7P’s then compared to the regular 4P’s. These additional three P’s like People, Physical evidence and process gives a better understanding of the service sector and its marketing strategies. NAB had adopted a single Target Market Approach called the Super consumer and they have focused on providing easy to access online service which can also extended to mobile banking services. Product:The products in this case will kind of services that the bank is willing to provide to the customers. It is providing its customers with various financial management and other related services including the regular banking services. They are providing various loans and other schemes for both individuals and business firms. They are also providing services regarding Insurance, Investments, International trade, etc. Place: NAB moved strategically in the international market. It has not gone berserk with its expansion into the international scene. It has been very selective in choosing its countries and placing their banks. They had a strategy which comprised of brownfield investments in most of the countries. It is currently operating in 8 other countries others than Australia. Its local branches are set up in a very convenient way to the customers in prime area and there is also the service of cashpoints. Promotion: The companies in the services sector are more involved in promotion activities. NAB in the same way has huge money invested into its promotional activities which include sponsorships and other social activities like involving itself in OCRF (Ovarian Cancer Research Foundation), where it already donated up to A$ 5.3 million. It is not only using advertising for its promotion but also its corporate social responsibilities to emotionally gain form the goodwill. Pricing: This is a very important and a difficult task. Here certain aspects like covering the charges of creating an ambiance for the customers, providing customer services round the clock, etc.are to be taken into consideration. Here the bank charges fee for certain banking operations, interests on loans and fees for consultation on management of finance. These are charged very competitively in comparison to other banks which give it an edge over the others. People: People in banking sector are the employees of each branch and the way they communicate, serve and guide their customer. They are very important for a bank and it is all about communicating, explaining and convincing your customer. NAB has currently has 40,000 employees across the world in all its branches and customer service units and the overwhelming success of the company clearly indicates how able they in developing the bank and providing the customers with appropriate services required by them. Process: NAB has a well-defined process of communicating and delivering their services to the end consumer. They must have a strong blue print on the details of the process. They have been effective in implementing the mobile and online services to the customers. They are able to provide service round the clock across the world and this is a crucial factor for any banks success. Physical Evidence: This is an important aspect that creates an impression on the customers. The services provided by the service sector or a bank is intangible in nature but what can be the physical evidence is the ambiance of the branches and the courtesy and formalities of the employees working there. This is an important physical trait of any business. Transactional Facilities and Its Security: The transactions can only be performed by a customer of the bank. To avail the online services of NAB, a customer of the bank should register in the site. The bank then authenticated the customer and provides access to him. Security of the transaction is given the primary importance. The transactions done via credit cards are verified by Visa. There are other securities like SMS security, Transaction Monitoring, Password Lock and NAB defence for the safe online transactions. The main objective of NAB is to provide an online service which is safe and secure. The various online initiatives taken by the company enables them to update the security software regularly and identify or report spoof or hoax mails. The non-customers of the site can visit the site and gain knowledge about what the bank is doing and how it can help that person financially. For the sake of industries and their transitional and information protection the Bank has a concept called the SCAM watch. This enables them to recognise and report the online scam and this SCAM watch is run by ACCC (Australian Competition & Consumer Commission). The support of Microsoft security is also taken to provide better service to its customers. Key Observations:

  • The site is simple and there is a very formal presentation of the site which is very professional on the part of NAB.
  • All the services provided by the bank are clearly mentioned in the home page. The wordings are big and visible to the customers.
  • There are very few advertisements on the site and all the important promotion that needs to be done by the bank are done in 3 blocks of the whole site.
  • A person who is willing to be associated with the NAB in the future can know all the information of the services provided, facilities and security information etc.
  • The various corporate responsibilities that NAB is involved in are clearly mentioned. The home page has a considerable size of space allocated to promote to project their social responsibilities.
  • The service of locating the nearest branches and ATM’s (Cash points) is also provided by the NAB website.
  • The additional information about NAB share prices and exchange rates are also provided by the website.
  • As far as the internet banking is concerned the customer is provided with adequate information about how to use the service and in case he forgot his password or ID he can go to “need help” segment and retrieve his log in information.
  • They are also providing financial advice to the customer. The site clearly explains what a financial advice is and how it can benefit its customers.
  • Different types of insurances and loans are clearly mentioned with their respective schemes and interest rates and returns related to them.
  • All the different aspects of Business like International trade, finance and loans, investments, insurances and service centres are all covered in the site with detailed explanation on each aspect and how NAB make it work for its customers better.
  • NAB is constantly sending messages to its customers about how to recognise a spoof or a hoax mail and how to make their information and online transactions safe.

Areas to be developed:

  • There is a lot of free space available on the site and this vanity in a site can cause disinterest in the site and boor the customers especially those who are intending to be a part of the NAB.
  • The site must be updated regularly in providing the necessary news required to the customer.
  • The site has to be made much more exciting by inserting pictures etc.
  • The website can have the live chat option with its customers to help them with the better understanding and utilisations of services provided by the bank.
  • Customer Service numbers should be provided to the customers in a much easier way. A number should be put on the home page which can help them to have access to the customer via phone. The contact us page is too complex and a normal customer can at times face problems figuring out which number he needs to call precisely to get his problem solved.
  • The language options must be made more visible. People can easily overlook the different language options that are at the very bottom of the site in small font size. — Preceding unsigned comment added by Chennai5767 (talkcontribs) 21:21, 12 January 2011 (UTC)

changes in US laws?[edit]

Well, I just got off the phone with managers at two local local institutions, one calling itself "Huntington National Bank" and the other one calling itself "First National Bank." The supervisors I spoke to at each denied at great length and with great vehemence having any connections whatsoever, past or present, to the US Treasury Department, Federal Reserve, Office of the Comptroller of the Currency, etc., etc., etc. "We are a privately chartered institution wholly owned by private stockholders and not required by law to redeem checks backed by the US Treasury," etc.

Incidentally--and I apologize if this is an incorrect place to ask such questions, but I cannot find a better one--I have heard multiple people say that under US law, banks chartered by the OCC are required to cash Federal income tax refund checks and all other checks drawn on the US Treasury in legal tender at full printed value. Is this true? Or is this perhaps one of those outdated customs, like banks being forbidden by law to loan out funds they did not actually possess, being forbidden by law to ask about Social Security numbers, being forbidden by law to bundle up and sell their customers' financial and personal information to a million rapacious marketing departments, that the US banking industry successfully lobbied Congress to get rid of long ago in the name of "deregulation?" — Preceding unsigned comment added by (talk) 21:14, 4 April 2012 (UTC)

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