Market Positioning Strategies and Analysis

The assignment discusses the significance of market positioning strategies in business development. It explains the three components of STP - segmentation, targeting, and positioning - and provides examples of successful market positioning in various industries. The analysis also highlights the role of market research and customer insights in informing effective marketing strategies.

10180375_ME_A2.2_VuPhuongHoa

Table of Contents
INTRODUCTION........................................................................................................... 3
MAJOR FINDINGS........................................................................................................ 5
Task 1: Marketing Mix............................................................................................. 5
VIETCOMBANK & VPBANK.................................................................................... 5
Task 2: Marketing plan and SWOT...........................................................................9
CONCLUSION............................................................................................................ 18
APPENDIX................................................................................................................. 19
REFFERENCES........................................................................................................... 27

INTRODUCTION
Marketing is an essential part of every business. Thanks to marketing, businesses can grow
strongly together with other departments such as Sales, Finance, Customer services, etc.
Therefore, Marketing Department is one of the indispensable departments in the process of
formation and development of businesses.
Former Vietnam Foreign Trade Bank, now Joint Stock Commercial Bank for Foreign Trade in
Vietnam (Vietcombank) was founded and finally put into service on April 1, 1963 with either the
Foreign Exchange Agency's precursor organization (directly under the Bank). As the
government's first state-owned commercial bank to perform a pilot equitization, Vietcombank
formally operated as a joint-stock commercial bank on June 2, 2008 after it was successfully
implemented. Plan for equalization through the initial public offering. Vietcombank stock (VCB
stock code) was officially listed on the Ho Chi Minh Stock Exchange on June 30, 2009.
On August 12, 1993, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) was founded.
VPBank has grown its network to 227 payment points with a workforce of almost 27,000
employees after more than 26 years of operation. In the first six months of 2019, total operating
profits amounted to VND 16.832 billion. Gradually, VPBank asserts the community's credibility
as a competitive bank with reliable and responsible financial capacity. VPBank's phenomenal
growth is expressed vividly in the expansion of the nationwide network of branches and
payment points and the diversified creation of sales and distribution channels.

MAJOR FINDINGS
Task 1: Marketing Mix
VIETCOMBANK & VPBANK
The 7P Marketing paradigm is one of the concepts that accompany the business and
organizational leadership pattern of inspiring marketing. This marketing model of 7P consists of
Three steps: 1 phase is "4P," i.e. 4 basic marketing planning features.It is a collection of
consumer solutions (or strategies), from concepts to product development, in which the product
is an unforgotten array of benefits; The next class is the marketing solutions, ranging from value
to discount delivery and consumer price; next are distribution and selling solutions and finally
branding solutions. (Vietnam, 2019)
Marketing mix: The marketing mix applies to the set of conditions or strategies that an
organization uses to advertise its label or service. The 4Ps represent a standard advertising
mix-price, brand, promotion and venue. Nevertheless, the advertising mix nowadays frequently
involves several other Ps as critical mix components such as branding, positioning, people and
even politics.
1. Products
A service or product that is launched and developed in the market with the company's
ownership
Vietcombank is the first digital bank in the financial industry to develop internet banking services
in Vietnam, so their products and services are extremely prominent with VCB-IB @ NKING
which is considered as a remarkable product. a step forward of the market movement era and
the foundation for bringing a new habit in consumer behavior of users in the digital age.
Immediately after being launched to customers, VCB-IB @ NKING has made a breakthrough in
the industry and left many changes for many commercial banks. In Vietnam's trade industry,
they pay attention to boosting investment in digital products. For them, continuous improvement
and change has been a goal they have been aiming for over the years with continuous

improvement from functionality to expanding suppliers and other aspects such as telecom.
information, energy, insurance, etc. to cater to consumer needs
In addition, VCB provides other digital products such as Phone bank which are used as a tool to
search for information about services and products, promotions and financial knowledge. such
as exchange rates, emergency services and support consulting to take care of customers.
SMS Banking takes advantage of the telephone messaging service to support users with
transaction information, query information or newly upgraded services, promotions, etc. Mobile -
Banking is a banking service on phones with features such as information lookup or
transactions without having to go to a transaction point or bank.
Besides electronic products, VCB promotes other services such as bank cards, savings deposit
accounts or loan services such as accumulation for future preschools, savings for partial
withdrawals. Also available are loan services such as real estate or personal loans, etc.
Compared to VPBank, every bank issues basic services such as savings, loans, internet
banking, etc. However, with VPBank they only develop products such as debit cards,
Mastercard and Visa. On the other hand, VPBank's loans are more open, such as health care,
encouraging teachers to study finance abroad.
2. Price
Price is an important and competitive factor in the banking sector and especially with credit
business. VCB constantly competes in lowering interest rates when borrowing or when raising
money, so interest rates will increase with savings deposits. Incentives for new customers or
patrons or services to pay tribute to loyal customers such as birthday gifts or Tet holidays, VCB
implements an attractive loan interest rate strategy as a gift to recruit customers and attract a
large customer base. This brings great confidence of customers for the bank
Next, the internal factors such as cost, products and services (SMS BANKING and VCB-IB
@ANKING) are factors that increase the price of VCB. External influences like customers: they
value the prices and quality of the products is difficult due to excessive information, bank
competitors: they need to know the market and the values of the competitors. They are aiming
to achieve a fair policy. Furthermore, banks may be influenced by the law pricing under control
of the government.

Even VP Bank offers discounts for new customers, opening cards or other appreciation services
as well as VCB, VP Bank is also affected by consumers, the economy, antagonists,
intermediaries. VP Bank, on the other hand, is a joint-stock commercial bank, so interest rates
are regulated in accordance with federal rules; apart from Vietnam, VP Bank is a company with
little financial means, so that loans may not be appropriate to remain competitive
3. Place
VCB has two central, conventional and modern sources of distribution. Traditional channels of
distribution include subsidiaries and reporter banks, while modern channels of dispersion
include fully automated branches, limited budget branches, online banking, and internet banking
services. Due to its high performance and low cost, VCB uses modern distribution channels and
can satisfy consumer transaction criteria anytime and anywhere. For traditional channels, it can
answer customer demands and concerns that new channels can't do, quickly answering needs
such as cash advance, high value bank transfer.
Throughout Vietnam, as in VCB, the divisions were not fully automated. VCB has 89 branches
and more than 350 foreign investment centres, 2 offices and one state office abroad, 4
enterprises and partners for many years in trading activities. Furthermore, VCB has founded
Autobank with more than 2,100 ATMs and more than 56,000 places globally that accept cards.
A network of over 1,800 foreign banks also funds banking operations in more than 176 countries
across the globe.
The banks employ two commercial channels of distribution: new and ancient. But there is an
exclusive AIA insurance marketing platform in VP Bank, and there are no outlets or payment
points internationally, so the bank's growth is still tight, hard to develop and low in size
4. Promotion
To meet overall strategic goals, VCB Marketing also uses marketing strategies to promote
goods like ads, advertising, social media marketing, brand management and private
procurement. VCB's media are magazines, the internet, tv, broad advertisements, direct
customer contact, endorsement programmes.
In addition to enticing advertisements and appreciation programs, VCB also engages in
charitable initiatives such as: supporting poor households in 10 Central Highlands mountain

districts with a total of VND 15 billion, funding VND 7 billion for education and infrastructure in
Gia Lai 2014
Many rewards programs are available to allow consumers to open label products like "American
Express VietBank (Amex) credit card, receive trendy Samsung Galaxy A10s" The policy
extends to first-time customers opened cards and sending flowers to 900 approved customers
and reaching a minimum VND 10 million or more purchase turnover with Amex business credit,
in addition, the account holder is eligible for five years. Last, on the release date.
In comparison to Vietcombank, VP Bank also has rewards to allow customers to unlock cards
and use services such as a 30 percent discount when purchasing VP Bank cards at King BBQ,
Truly Viet, Khao Lao restaurants. But the program is not really working and does not cater to
daily cardholders.
5. People
Employees are the pillar of strength for the bank. Marketing staff often play a major role such as
promotions, banking services, designing marketing plans based on a combination of consumer
intends to make the business a profit. Business but still confident of attracting customers.
Besides professional qualifications and communication skills, communication, listening and
sharing disposition and call center concerns are the main factors deciding whether or not
customers choose to use VCB goods. Knowing the scope of the problem, VCB is one of the
banks with the most strict recruitment rules and the strongest reward and benefits system for
workers throughout its operating years. Rigorous training phase was also actively encouraged
to improve the performance of the VCB system's staff.
Likewise, at VP Bank, they realize that interacting and listening to customers in particular is very
critical in the marketing plan and the bank in total, so their recruitment process is very analytical
and consistent in delivering translation. Best Customer Support.
6. Physical evidence
The workplace at Vietcombank is new, and loosely coupled. The transaction offices are planned
and fitted with new and flexible facilities that completely meet a typical commercial center's
expectations. With a diverse and experienced staff, VCB offers consumers and the industry with
the highest quality of care a full spectrum of accessible banking products or services, aiming to
appeal to a wide number of clients.

As according to Bank, the concept of "customer is the priority," the interaction thresholds in
location, service centers have changed entirely. Like transfer offices at VCB-VIP users
frequently do not have their own workspace, they need to wait as actual customers for their
switch and at VP Bank each settlement point has a client working space. To guarantee their
freedoms, vip the products. To meet the needs of its clients, VP Bank's products and services
are continuously being developed.
7. Process
The services provided by Vietkut are basically standardized by the mechanism established by
the bank to maintain standardization and quality across all banking duties. The bank still can
not, however, overcome other constraints, such as the operation of some cumbersome
systems, which will require more time for customers.
For example, the system of opening a card at Vietcombank: First, ready the required
documentation like ID card, 3x4 photo, card opening fee (50,000 VND) Next, go to the nearest
sales office, filling out the application and pay upfront (other protocols will be finished by the
employees). Also, after completing the verification process, you could use the services directly
with your card number.
Eventually, issuing the card to a retailer who has signed the card and a security code (change
password) will take 4-7 days for the Bank: Prepare paperwork; Fill out the form; Get the card
The procedure for opening a card at VP Bank is like at VietBank, but you have to fill out the
identity verification form at VP Bank along with the following phase
- Step 1: Go to card.vpbank.com.vn
- Step 2: Click enroll but pay
- Step 3: fill in the registration profile
- Step 4: upload your profile
- Step 5: Fill in and wait for the registration profile
Generally speaking, the system of opening VCB cards is still traditional and difficult for
customers as VCB is an investment bank and online form methods including VP Bank need to
be ensured.

Task 2: Marketing plan and SWOT
Company overview:
Former Vietnam Foreign Trade Bank, now Joint Stock Commercial Bank for Foreign Trade in
Vietnam (Vietcombank) was founded and finally put into service on April 1, 1963 with either the
Foreign Exchange Agency's precursor organization (directly under the Bank). As the
government's first state-owned commercial bank to perform a pilot equitization, Vietcombank
formally operated as a joint-stock commercial bank on June 2, 2008 after it was successfully
implemented. Plan for equalization through the initial public offering. Vietcombank stock (VCB
stock code) was officially listed on the Ho Chi Minh Stock Exchange on June 30, 2009.
 Vision: Vietcombank strives to become one of the 100 largest banks in Asia and among
the 300 most powerful financial banking groups. In addition, they want to develop the
system according to international standards.
 Mission: Vietcombank always wants to explore the potential to support the poor, lead the
way in supporting people in remote areas and the fields of health, society, etc. The goal
is for social development.
 Business and achievements: Enterprises set goals that bring about the development of
enterprises and the growth of society. Vietcombank wants to become the leading
enterprise in retailing and second in wholesale. In addition, they want to consolidate
profitability and high profitability within the business. In addition, Vietcombank wants to
be at the forefront of customer satisfaction in order to attract more customers to use its
services. Moreover, they want to improve the human resource management system as
well as the risk management of the leading enterprise. Ultimately, they want to change to
become the business with the strongest digital banking transformation.
SWOT
SWOT analysis (analysis of strengths, weaknesses, opportunities and threats) is a
method for recognizing and evaluating internal and external factors that may affect the
viability of a plan, product, venue, or entity.

For a strong enterprise like Vietcombank, promoting strengths and opportunities and
reducing weaknesses and facing challenges are indispensable for the company.
 Strengths:
Vietcombank - the most influential financial bank in Vietnam financial market,
strengthens its advantages through: Their management is a group of representatives
who are sensitive to the market they are in. In addition, the Board of Directors is also the
ones who have many years of experience in the domestic financial market.
To get the position today, businesses have trained staff to become elite and excellent.
They require high staff capacity throughout the working process, moreover, the
incentives and remuneration policies of the business are also extremely diverse to be
able to keep excellent employees at the same time increasing the number of employees.
the amount of manpower over the years.
In addition, their brand position is also extremely strong. The building of a brand image
also depends on many factors such as politics, experience and time to market.
In addition, Vietcombank promotes bank card services and foreign exchange activities in
the market. As of 2011, Vietcombank had 6.5 million cards in the market to meet the
needs of users.
Moreover, they aim to be a brand of financial enterprises across the country and
diversify products along with the strongest domestic and international trading system in
the country. This supports businesses in promoting development advantages.
 Weaknesses:
However, a thriving business is one that can capture its weaknesses and improve it.
For Vietcombank, this is a business that has weaknesses in a bulky management
system, lacking close links between other commercial banks.
Next, the history of Vietcombank is a state-owned bank that causes restrictions on the
introduction of modern and leading information of the country.
In addition, the bank's learning and understanding of international finance is still limited
and has not been expanded, making it difficult to become a leading and strong
international system.
Finally, they are not well structured in terms of income and are easily volatile by the
market economy through interest rates and credit. Their products are not diverse, and
are restricted within many years of operation on domestic finance.
 Opportunities:

For Vietcombank enterprises, the market economy or the macroeconomic impacts on
the market economy such as PEST: including politics, economy, society and technology
are great opportunities for businesses to promote. future development
As a state-owned bank, Vietcombank has been expanding its opportunities by issuing a
government restricting cash usage and encouraging consumers to use cards and cash
transactions through banks to increase Suction of a bank with position like Vietcombank.
Finally, the opportunity to learn from the experiences in the world banking market is
expanded as the macro economy is increasingly integrated and diversified. Since then,
businesses have brought a positive change in the improvement of the apparatus and
future products.
 Threats:
After joining the WTO, Vietcombank faced the challenge of fierce competition in the
financial markets in Vietnam and in the banking industry. The challenges of competing
prices, products or services of businesses create difficulties for businesses.
Vietcombank is facing stricter regulations and standards in accordance with international
practices through additional legal documents, environmental protection, etc.
In addition, fluctuations in the market economy such as gold prices and CPI have
created inadequacies for individuals depositing money in banks, which can lead to loss
of customers and a decline in sales.
Finally, changes in the stock market across the country have a direct effect on clients'
investment habits and the shift in capital outflows from banks. Inadequacies can
markedly increase Vietcombank's development. (Dân Kinh Tế, 2019)
Marketing objectives:
First, regarding the challenges that businesses are facing compared to their financial
strengths, the goals that businesses should aim to expand their product lines at home
and abroad. Their position is a very strong advantage as well as the distribution network
both at home and abroad, Vietcombank should have more attractive incentives in issuing
services to consumers. For example, they should reduce transfer costs compared to
other banks just to promote the linkage between other commercial banks as well as to
perfect incentives for customers who choose other banks instead of Vietcombank. With

reasonable rates, they will attract more customers. For example, Vietcombank's
exchange price to some other bank with the same bank transfer fee of 3,300 VND /
transfer should be decreased, and totally free when switching to the same bank.
Secondly, with the opportunity that Vietcombank has about integrating into the
international market, improving the bulky apparatus in the working cycle of enterprises
and learning how to run businesses with brand name apparatus. rather than things worth
changing. With the change in international integration, international standards are also
applied more in the financial banking enterprises in Vietnam, so Vietcombank needs to
seize this opportunity to reform its apparatus become as convenient and efficient as
possible. From the reform of the bulky apparatus - supposedly their weakness, not only
benefits the leading enterprise in the country but also affirms their position with the
market and their strategic goals in supporting their goals will come true in the near
future.
The goals set are still not enough according to the S.M.A.R.T tool - because it has no
definition of time nor is it different from other goals set by the business. In addition to
factors such as achievable and specific numbers, the goal should be given a defined
year - this should be calculated through the impact of general economic volatility.
(Mindtools.com, 2019)
Segmentation, Targeting and Positioning:
 Segmentation: market segmentation is a concept that goes against mass
marketing and marketing a wide range of products. The goal of market
segmentation is to break down the market into sections that can better capture
each customer file. (Solution.com.vn, 2019)
Vietcombank is aiming at the leading retail market, so Vietcombank's market segment
has also become diversified, according to the following three criteria:
 Demographic - sociological segmentation: It can be said that for a business that wants to
be the top retailer, retail distribution channels become the most important. When
marketing a product in the field of finance and banking along with the development of an
era when the people's knowledge is further enhanced through press releases, the
Internet, etc. customers are increasingly asking for more information. Therefore, the

distribution channels of businesses can rely on the influence of the 4th industrial
revolution to promote the spillover of the importance and popularity of their businesses.
 Segmenting by customer behavior: Vietcombank with the motto of customer-centered,
identifying customer needs and loopholes in social security is the opportunity to move
out of the safe areas of the business career towards a future with many opportunities of
Vietcombank. They use consumer behavior to determine the product launch. For
example, customers need quick and convenient way to withdraw money from their
accounts, Vietcombank thanks to that expansion of branches and ATMs to help
consumers more convenient in making transactions.
 Segmenting by psychological characteristics: Based on the 4.0 revolution, transactions
are becoming more and more convenient for consumers, especially for students. The
financial connection with the trade, in particular, with fast and convenient transactional
applications, will attract customers more than ever. However, Vietcombank needs to be
more open to connecting with applications and reduce the cost per transaction made
through commercial connections. (Marketing Admicro, 2019)
 Targeting: A target market belongs to a group of potential clients whose products
and services a business wants to sell to. The category also contains specific
clients for whom the promotional efforts of a company are focused. A target
customers for a product or service is one part of an overall market. (Investopedia,
2019)
Relating to Vietcombank, identify target customers through standards of leads. Through
annual reports, businesses or individuals with potential investment, or based on sales,
savings are potential customers they target. Based on their strategy and goals,
customers who need financial assistance are always their priority for domestic and
foreign loan, credit and money products. For individuals, products such as insurance and
savings are assessed through real customers and determined by profession, age,
demand, etc. For example, their target customers are start-up activities of new
businesses, aiming to invest and promote benefits and capital for high growth of
businesses.
 Positioning: Market positioning depends on the ability of customers to affect their
understanding of a brand or product compared to peers. The aim of business

positioning is to develop a brand or item's image or identification so that
customers interpret it in some way. (Corporate Finance Institute, 2019)
Product positioning is an essential element in promoting Vietcombank's image and
position. For example, with the Vietcombank logo: With the brand's primary color being
blue, the logo evokes the sensation of combining the starting and persistent movement
of the letter "V" with both the sense of constantly linking each journey to offer a touch of
feeling. Exposed confidence is coming from the heart.
Vietcombank product attributes (Ingenuity — Continuous Growth — Insightful, Loyal —
Broad Link — Contrast — Health, Security) are defined in close connection with the
social values of Vietcombank. Founded and confirmed (Trust — Values — Ready for
Change — Sustainability — Humanities), this is a solid basis for Vietcombank's
sustainable and environmental protection in the coming years.
Vietcombank's specific brand contact message: "Together for the Future" as well as
client dedication to thorough development in both picture and service to be available for
collaboration.

Price
Vietcombank
Techcombank
VPBank
Qualities of products
As can be seen, the service at Techcombank is somewhat better and more affordable, besides
that, VPBank has not really confirmed its advantages and is still limited in attracting customers.
Meanwhile, Vietcombank has not attracted customers with Techcombank but the cost is higher.

Tactics and actions:
a. Tactics:
 Products: Developing your products is an urgent need at this time, with the working
system not really productive, businesses need to work to develop more products and
incentives for each product.
 People: Taking human resources as a basis for business development, but in human
resource issues, banks are still lacking. Need to adjust the attitude of the staff and
customer care team of the company's branches.
 Price: The basis for corporate valuation is based on macroeconomic background,
PESTLE and internal factors. Therefore, as a leader in the financial sector, the company
needs to reconsider the pricing of each product and give priority to increasing incentives
for each service they bring to customers.
b. Actions:
 Products: To realize product development, enterprises need to promote product
development. For example, during a monthly meeting, businesses need to ask
employees of the departments in charge of developing products on ideas about products
that bring more benefits and more reasonable prices to consumers.
 People: In general, in order to improve the personnel structure of the bank, it is
necessary to have more strict discipline for each department of employees, especially
the preferential regimes will be tightened to promote employee awareness for customer.
In addition, the behavior of customer care staff must be more carefully trained and bring
comfort to customers during the process of making transactions.
 Price: Pricing of products depends on many internal and external factors, so the impact
of both factors should be informed, the needs of customers about the products to be
marketed. For example, they can reduce the transfer fee when two accounts are in the
same bank. This makes customers feel more benefits from businesses and makes them
choose to use Vietcombank instead of other banks.
-> When changing the elements in marketing mix, the ultimate goal is to drive customer
satisfaction from which to increase work efficiency promoting product commercialization,
pushing sales and support Sales Department to achieve more Objectives and benefits
for their own business.

Evaluating and monitoring
a. Reviewing Sales Number:
This is the most common way of evaluating a company's marketing plan. Sales
and Marketing departments are the two departments most directly related to
each other. It can be clearly seen by how much percentage of Vietcombank's
revenue will increase or decrease compared to the previous year after changing
the marketing model. With a good marketing model will bring high revenue over
each period, about 1 month or 3 months or 1 year.
b. Customer response:
Customer-centered - is the motto of Vietcombank, so customer feedback is a
measure of high efficiency in assessing the marketing plan of the business. A
good marketing model is when they please customers from which to gain
customers' trust and help grow profits and revenue.
c. Return investment
When becoming a business with a foothold in the market, it is extremely
important to carefully calculate the investment money to a marketing campaign in
particular. Why? When calculating the investment and profit of that campaign,
businesses will know where the campaign is lacking, they will find ways to
improve the marketing campaign more and more stronger with the item The
ultimate goal is still to drive sales. (Smallbusiness.chron.com, 2019)

CONCLUSION
The marketing mix is an optimal business support tool while promoting the strengths and
opportunities for businesses. The company's marketing campaign not only that but also
minimize the weaknesses and challenges of the business. Since then, Vietcombank has
continued to improve its marketing campaigns and promote the goals that the business
has set. Vietcombank is an enterprise that wants to assert its position with financial
markets throughout Asia. Finally, based on the Marketing mix, they can identify the
success of the business through the effectiveness of the campaign.

APPENDIX
Task 1:
The 7P Marketing paradigm is one of the concepts that accompany the business and
organizational leadership pattern of inspiring marketing. This marketing model of 7P consists of
Three steps: 1 phase is "4P," i.e. 4 basic marketing planning features.It is a collection of
consumer solutions (or strategies), from concepts to product development, in which the product
is an unforgotten array of benefits; The next class is the marketing solutions, ranging from value
to discount delivery and consumer price; next are distribution and selling solutions and finally
branding solutions. (Vietnam, 2019)
Marketing mix: The marketing mix applies to the set of conditions or strategies that an
organization uses to advertise its label or service. The 4Ps represent a standard advertising
mix-price, brand, promotion and venue. Nevertheless, the advertising mix nowadays frequently
involves several other Ps as critical mix components such as branding, positioning, people and
even politics.

Task 2:
Factors affecting macro-scale businesses are approved under the PESTLE model, of
which there are 4 biggest factors affecting banking enterprises:
 Political: As a government-owned enterprise, all Vietcombank's activities are
under the control and law of the government.Government laws impact the
banking industry's environment. In banking matters, government may interfere at
a certain time, leaving the country open to political influence. It involves political
party bribery or specific laws including labor regulations, trade restrictions,
sanctions and prosperity.
 Economics: The banking industry and the economy are limited. Whether the
economy is stable or practically non-existent during a crisis, how income flows
influences the number of firms that can enter it. If consumers borrow or spend
money at a store, personal finances and the explanation behind them impact.
Furthermore, the bank faces the uproar when inflation continues to rise. Inflation
has an effect on exchange and its price, remaining stable. Foreign investors think

twice before they provide their funds whenever the value of the dollar of a
particular nation is high.
Exchange rates also affect banks worldwide — stable currencies like that of the
US dollar have a bearing on other commodities, personal finances, and inflation
rates elsewhere.
 Social: Cultural influences, including purchasing habits and needs, affect how
people see and use choices for banking. People turn to institutions for business,
residence, and educational loan assistance. Consumers are seeking knowledge
of saving accounts, financial-related debit cards, savings, and more from
cashiers. Consumers want a consistent experience of banking. Yet software is
evolving to make it easier for customers to buy goods without bank transfers
assisting.
 Technology: Technology has changed how their investments are treated by
customers. Most banks offer eyewitness reports, withdraw cash, and pay
smartphone payments through a mobile app. Smartphones could scan checks at
their venue and the bank can structure them from their later part. The change
would help conserve paper and the need to travel to the branch directly to
address these issues.
It's also switching debit cards. Chips were introduced which allowed users to
insert their card into deposit machines instead of swiping them. Some countries,
including Canada, have introduced a "click" option — tapping the debit card onto
the device that does not require a pin to complete a transaction. Such changes
make buying from banks simpler for the customer without the requisite
interference.

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