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Financial Services Assignment Sample

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Added on  2021-04-16

Financial Services Assignment Sample

   Added on 2021-04-16

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AL ARABI BANK1AL ARABI BANKStudent’s NameCourseProfessor’s NameUniversityCity (State)Date
Financial Services Assignment Sample_1
AL ARABI BANK2IntroductionThe Al Arab bank in Oman is owned jointly and offers financial services. The Al Arabibank has more than sixty branches and has four main operations that include retail banking,support activities, company banking as well as banking for the Islamic religion. (Oman ArabBank, Bloomberg, 2017) The bank appointed a new head of retailing function qualified in areasof project management and other operations that include marketing, digital marketing, and evensales. He would help in key operation management decisions of the bank hence smoothening itsoperations. The operations decisions mainly involve quality of services; sits inventorymanagement practices, the layout and process designs that contribute to the total performance ofthe bank.[ CITATION onl15 \l 1033 ]1.PRESENT ACTIVITIES.(i)Quality.Quality is defined by how well the bank offers banking services to its customers. Thebank has digitalized its operations by introducing a robotic system for to offer customers bestquality through ways like reduced response time to customers and resolution times. Furthermore,there is efficiency in operations, high accuracy as well as speed. Having the automated machinesgives the staff time to focus on offering solutions and better services that help achieve customerneeds. The staff also has more time to become innovative and come up with quality products thatmeet or exceed customer expectations. Automation has also helped increase productivity as wellas reduces errors in banking processes. The bank employees dedicate time to communicate withthe customers and understand their needs directly. Transparency has helped the bank reduceoverall costs of operations. Generally, quality involves a reduced time of operations, quick
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AL ARABI BANK3customer feedback, transparency, accountability, quality products and improved profits whichthe bank seems to meet. (Oman Arab Bank News, 2016)(ii)Inventory management.This involves processes that include ordering, use of a company`s stock or assets as wellas its storage. It further involves control of the movement of services and products from the pointof origin to the end user. In this case, the bank is offering services to customers. So it hasautomated its activities from the manual way of running bank tasks. It uses a desk software thathas improved mechanisms of being accountable and has visibility for its Information Technologyand bank services as well as the functions that support its running operations (Worall, 2012). Thebank also tracks all its communications and service requests from a single central point andmanages them. The machines also help in loan approval and cards which affect its level of assets.Other investors in Oman have acquired Al Arabi Bank`s Investment Management Group. Theacquisition included even systems, licenses, the assets, and liabilities of the Al Arabi Bank. Theentire acquisition led to more investments, better asset management as well as brokage. This isgood for the bank because it would make it to a first-class world bank. This way the bankmanaged its assets.(iii)Layout and process design.The Al Arabi Bank has many branches across the country. This helps it to reconnect andmaintain its customers. The bank has also connected its networks right from the CEO to allstakeholders through fostering local orientation and having creative processes for its workshops.The bank has its branches in malls to serve its retail customers, and it would also attractcustomers as well as serve the prestigious customers. The bank`s cityscape and the cubical layoutwith transparent blue against the skyline also against the mountain backdrop attract even tourists
Financial Services Assignment Sample_3

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