An Innovative and Problem Solving Banking System

The company has set its standards to creating innovation and problem solving mechanisms for all its operations. This aspect creates unique attribute of the desire to being efficient in their service delivery.

Problem

The ownership of the company is at a problem, according to a survey conducted, the clients were gotten to be not that satisfied with the services being offered. It is as a result that they may not maintain the accounts and become loyal customers to the company. In addition to the customers having demonstrated luck of contentment, they end up spreading it to others with no consideration for the legitimacy of their claim that ends up giving a bad name for the company.

The company has also been attributed to the poor service offering of not giving the relevant information to customers. They instead clog the customers with huge chunks of information that are irrelevant and are mostly in small font that are hard to read (O'Connor, 2009). Another problem that most of the banks have is the problem of queues. Most of the customers have been used to following queues that tend to waste a lot of time. This lies in the length of time spend in attending to a customer.

Solution

The company attempts to create a unique attribute concerning the problem raised by the clients. Though not termed to as being the best and most successful method of handling it, it will do the job that will go a long way to solving the company.

A good instance is gotten from the Occupy Wall Street. The banking system is not known to acquiring credits as they have taken up a negative attribute. The company with its interest in mind aims to increase their revenues, bonuses and good shareholders.

For all of this to be achieved the company needs to lift its operations considering the manner in which information is passed to other customers who are willing and able to create an account with the company. The legal and bank system of the company is not rigid and requires rigid system to make successful its operations. The language used in the banking system should be liable in the operations of the company. The company ought to transform its operations with the attempt to give customers the reason to continue as well as to start to bank with the company.

The company should put in place steps that are meant to offer the customers brief but clear highlights of what the company is about, the services it offers and offer solutions to customers in the most efficient and effective mode known. The customer has to manage their account with highlights of only the most relevant issues that address their concerns. This is best done with an easy read format. Additionally, the customers are bound to ask questions on varied number of issues concerning banking, the company instead of throwing away this information it may be used to add benefit to the company.

Information should not be thrown around to the customers; mostly irrelevant information and huge words. There is a far better method that customers will not have knowledge of but has proven to be successful. The company ought to define the language for the customers, they are not supposed to be left vulnerable to big words that they do not know of or they will struggle to know. A simple and easy mode of addressing the issues ought to be available for them, take for instance when the customer wants to check his or her account. Another much better method that involves accessing information is to give the client the opportunity to look for information in a reference material (Ryan, 2003). This is best done by placing a brochure that gives information to the customer of what the company did initially offer to the customers, what it currently offers and what other new services it aims to add to the existing services.

The company aims to put more emphasis on what on other banks trail and show signs of weakness in the services they give to their customers and improve on that while similarly adding value to what they have gotten a strong basis. The problem of queuing in the banks can be solved with sourcing ideas from varied forms of industries that it had no connection. This problem lies in open innovation that company attempts to put into place.

Benefit

An effective customer service has the benefit of retaining the customers as well as improving on the morale for the company. The company is hence placed in a situation where it can focus on other innovative and developing activities. The introduction of queues will go a long way to giving customers the relevant information of what they need. The brochure is a simple yet easy method of giving customers the most relevant yet specific information desired. Time and money will hence be saved.

The benefit that can be gotten from the solution on queuing is that the company will be using a limited number of times in attending to their customers. The introduction of ticketing based on FASTPASS system as applied in Disney has been far successful in limiting the amount of time spent.

The ask

With the company aiming to improve its services solely is it really willing and ready to gain from other companies? Even considering that this is a business there are times that call for teamwork and cooperation. The other real question goes to in addition to improving and applying these solutions as recommended above, what steps are taken to return or even attract the lost customers there initially.