SMART Working
Smart working in simple terms referred to as finding time and quality management solutions, while multi-tasking in an effective and efficient manner. In a banking environment, it is important that the staff are following Smart working in order to provide an enhanced competitive customer experience with improved service quality.
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| Figure1: Smart Working (Source: Promigroup, 2020) |
Angelici and Profeta (2020) has stated that, by comparing
the treated and control workers, causal evidence has been discovered that
smart-working flexibility boosts worker productivity and improves their
well-being and work-life balance.
A study has stated that “the three elements; (a) the use of
ICT, (b) innovations in human resources management practices and in
organizational models (c) the reconfiguration of the workplace layout, have a
direct impact on the implementation of smart working” (Veglianti et al., 2021, p.4).
Practical scenarios for leveraging the existing technology for
Smart Working
As an example, if customer A walks into a branch to deposit
money over the counter and customer B walks into the branch to discuss
regarding opening a foreign currency account, the branch staff may assist and
encourage customer A to use the cash deposit machine instead, which will help
reduce unnecessary queues at the cash counter as well as it will help save the
time of the customer. Then the branch staff can help customer B to complete his
request at the same time.
Below two examples can be taken from HSBC HASE and UK to examine the applicability further in detail;
HSBC HASE: The bank has built a unique online smart form,
through which the customer request for account openings, account closures, and
many more, to avoid time consuming and exhausting unnecessary branch visits.
This also helps the bank to move from paper to digital forms. Therefore, if a
customer visits a branch in HSBC HASE, the branch staff can now easily advice
the customer to use their online smart form instead of filling a handwritten
document. This helps save the time of branch staff as well, which can be utilized
for some other meaningful tasks.
HSBC UK: The bank has introduced a smart form in their
public website, as well as in their Personal Internet Banking (PIB) mobile application
for their direct debits journey. The branch staff has been adviced not to provide
any physical forms to the customers and to direct the customer to use their
public website form or the PIB mobile application.
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| Figure2: WorkSmart (Source: Work Smart Austria, 2021) |
In this way, the leaders can also delegate different responsibilities
and tasks to the branch staff and the branch staff too will have more time to
take up challenging responsibilities, which will help their career
enhancements.
This is called using the advancement of the technology for smart
working, through which the efficiency is also being gained in a practical
manner at the end of the day.
The study of Veglianti et al., (2021) has also concluded
that the unique and widespread smart working experiment that we have been and
continue to live through during the COVID -19 pandemic is highlighting the role
and importance of digital transformation, which is not only causing major
changes in our personal and professional lives, but also appears to be a way to
organize future work settings in a sustainable and resilient manner.
Conclusion
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| Figure3: Digital Banking (Source: Verdict Media Limited, 2020) |
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ReplyDeleteThis is a very good article which elaborated the importunacy application of technology in a bank to enhanced competitive customer experience with improved service quality. This will help bank to increase their brand value as well as brand image which help to increase profit.
ReplyDeleteThank you so much for your valuable comment.
DeleteTechnological advancements have been rapid since the first decades of the twentieth century. As a result of this advancement, the banking industry has grown significantly.technology is causing a major shift in the banking industry. Clients will also benefit from the use of technology, as it will make it easier for people.
ReplyDeleteTimely topic with useful info. Smart Working is bringing benefits to the both parties employees and the organization as well. most of the organizations are using these concept to Being more productive, Improving job satisfaction, engagement and work-life balance and Becoming a more sustainable business incurrent business world. Good article.
ReplyDeleteThank you so much for your valuable comment.
DeleteReally nice topic and whatever the organisation or business we will always need bankers help and when they are up to date our job also beco.es easy
ReplyDeleteBanks can increase customer service with personalized offerings due to new creative technological developments. Customers can also benefit from banks' sharing possible products, upsells, cross-sells, and strategic planning.
ReplyDeleteVery informative and detail about Smart working. I learn something new. Technology plays a key role in the current era. Thanks for publishing.
ReplyDeleteThank you so much for your valuable comment.
DeleteTechnology improves daily lives; allowing to move physical storage units to virtual storage banks and more. Scientists of the time are also able to send astronauts to the moon thanks to technology.Your article make sense to read and understand the smart work using technology . ThankU
ReplyDeleteThank you so much for your valuable comment.
DeleteNew global challenges are forcing banks to change their old culture. To modify their structure, their customer service processes, their teams, and their own spaces to achieve a more agile and flexible work system.
ReplyDeleteThe new smart would bank also need change the culture.... I think this article can get more details and upgrade...
ReplyDeleteThank you so much for your valuable comment.
DeleteAttempts to improve customer experience management by advancing technologically are at the centre of efforts to better serve customers. As a result, for financial services companies to grow, they must adopt innovative banking technologies.Thank you.
ReplyDeleteThe smart and flexible working environment enables employees to apply thier creativity & talent effectively and thereby increase overall performance of organisation.
ReplyDeleteToday's success is built on a data-driven understanding of the business that drives intelligent consumer engagement. Technology and digitization have altered the banking industry by providing real-time actionable insights that allow them to make better decisions, gain a competitive advantage, and improve the customer experience. Customers can also be informed about possible items, upsells, cross-sells, and strategic planning. The possibility to alter clients' banking experiences with AI-backed models is genuinely exponential.
ReplyDeleteThank you so much for your valuable comment.
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