CommRN: Organizational Structure (Topic)最新文献

{"title":"The Human Challenges of the Digital World: The Paradigm of Employee Expectations in the Banking Sector","authors":"Supriya Sehgal, P. Garg","doi":"10.2139/ssrn.3743389","DOIUrl":"https://doi.org/10.2139/ssrn.3743389","url":null,"abstract":"Business Process Re-engineering (BPR) is a drastic and transformative means to help organizations rethink their existing processes from the fundamentals to totally re-engineer or to transform or to improve them. The aim is to achieve big cost reductions and a strategically differentiating and better customer service. Banking business processes are differentiated into three key elements: Customer inquiries or requests which form the Inputs, the Processing of data through some stages and various necessary internal channels and the delivery result as expected by bank and customer forming the Outputs. BPR predominantly mediates in the data processing part to alter it to become time and cost effective. Information technology has been regarded as the key enabler for the radical changes as seen after BPR exercises. A digital revolution of the processes is the most important goal for nearly all banks across the world. Use of Information Technology tools promises to deal with the numerous external and internal threats and pressures that the banks face. The mounting costs of multiple regulations and difficult customers who continuously seem to prefer more and more expediency and a coolness quotient are a few challenges that are overwhelming the banking sector. The hub of banks’ digital makeover is Information Technology, coupled with customized products, enabled by simplifying the processes to the maximum and ensuring offering as much convenience to the customers as possible by developing multiple delivery channels.<br><br>As the banking picture moved more towards the customers’ orientation from the bankers’ perspective, banks started offering a host of services like mobile banking, loans, internet banking, credit/debit card facilities, stock broking, and investment options among the vast pool of other services. The majority banks in India, particularly the large private sector lenders – HDFC Bank, AXIS Bank and ICICI Bank are now at different stages of digital promptness. HDFC Bank, ICICI Bank and AXIS Bank are the biggest private sector banks in India by Market Capitalization and proud members of the Big 4 banks of India – the 4th being the State Bank of India (SBI). These banks have adopted technology advancements swiftly enough to be called the Market Leaders of BPR projects in the Indian banking sector. These banks have re-imagined and re-engineered their processes using the latest tech-tools and software viz. Chat Bots, Artificial Intelligence (AI) led engines and Robotics Software. Even though these may be in their embryonic stages, these technologies would fundamentally alter the banking scenario sooner than anyone expects. Numerous banking experts foresee these technologies to take maximum five years to digitize all banking and trade ecosystems but Blockchain technology – the new kid on the block - has the latent to be the real game changer and may disrupt the complete financial systems. Of late, several Indian banks are feeling vulnerable and fac","PeriodicalId":189928,"journal":{"name":"CommRN: Organizational Structure (Topic)","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131072860","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}