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Co-operative Bank fate.. discuss
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Othelo
#261 Posted : Monday, December 21, 2015 1:19:04 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
Very poor arrangement for people who deal in cash and bank daily. Before they know it, their deposits will be depleted smile
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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PeterReborn
#262 Posted : Monday, December 21, 2015 1:25:09 PM
Rank: Veteran

Joined: 1/3/2014
Posts: 1,063
Ericsson wrote:
Absolutely true PeterReborn.
They are trying to boost profits by cost reduction instead of growing the loan book and giving good customer service that will keep customers running to and not away from the bank.
In 2014 they lost a huge chunk of customers to competitors like KCB

The core of any business process re-engineering or operational management change is customer service.Everything else comes second.If you are chasing away your customers and making it very difficult to transact with you then you can as well close your business!!
Consistency is better than intensity
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MaichBlack
#263 Posted : Monday, December 21, 2015 1:58:06 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,838
PeterReborn wrote:
As a shareholder and a customer of this bank,I am very disappointed with how they are implementing the whole agency banking concept.You cannot chase away customers who have come to a banking hall and tell them to go to deposit to the agents.You go to the agents who are either selling meat,hardware items or other items with no regard to customers who are coming to deposit the money.It is quite unfortunate and this will be the start of the downfall.Poor customer service.

Othelo wrote:
Very poor arrangement for people who deal in cash and bank daily. Before they know it, their deposits will be depleted smile

Don't they have "agents" inside the banking halls? An insider had told me some time back that some people/institutions - landlords, schools etc. - were rejecting deposit slips from agents and insisting clients deposit money in the bank directly. The bank then decided to have "agents" in the bank so that even if you deposit money in the bank or with an agent, there is no difference and this would save the agency banking. But at the time there was no plan to send anyone away from the bank with money! is that what is happening now!!??
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Ericsson
#264 Posted : Monday, December 21, 2015 2:00:44 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
A bank in need of fresh ideas and a new broom.If not careful it will go the barclays bank way.
Gideon time is up ama his tenure was renewed for another ten years
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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subaru
#265 Posted : Monday, December 21, 2015 2:21:09 PM
Rank: Member

Joined: 3/15/2010
Posts: 391
Location: nairobie
MaichBlack wrote:
PeterReborn wrote:
As a shareholder and a customer of this bank,I am very disappointed with how they are implementing the whole agency banking concept.You cannot chase away customers who have come to a banking hall and tell them to go to deposit to the agents.You go to the agents who are either selling meat,hardware items or other items with no regard to customers who are coming to deposit the money.It is quite unfortunate and this will be the start of the downfall.Poor customer service.

Othelo wrote:
Very poor arrangement for people who deal in cash and bank daily. Before they know it, their deposits will be depleted smile

Don't they have "agents" inside the banking halls? An insider had told me some time back that some people/institutions - landlords, schools etc. - were rejecting deposit slips from agents and insisting clients deposit money in the bank directly. The bank then decided to have "agents" in the bank so that even if you deposit money in the bank or with an agent, there is no difference and this would save the agency banking. But at the time there was no plan to send anyone away from the bank with money! is that what is happening now!!??



i got angered about that juala cash deposit thing later they forced us to deposit to agents inside the hall who had the capacity to tell me float imeisha i later deposited outside the bank they should know am not going back there
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Othelo
#266 Posted : Monday, December 21, 2015 2:28:24 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
subaru wrote:
MaichBlack wrote:
PeterReborn wrote:
As a shareholder and a customer of this bank,I am very disappointed with how they are implementing the whole agency banking concept.You cannot chase away customers who have come to a banking hall and tell them to go to deposit to the agents.You go to the agents who are either selling meat,hardware items or other items with no regard to customers who are coming to deposit the money.It is quite unfortunate and this will be the start of the downfall.Poor customer service.

Othelo wrote:
Very poor arrangement for people who deal in cash and bank daily. Before they know it, their deposits will be depleted smile

Don't they have "agents" inside the banking halls? An insider had told me some time back that some people/institutions - landlords, schools etc. - were rejecting deposit slips from agents and insisting clients deposit money in the bank directly. The bank then decided to have "agents" in the bank so that even if you deposit money in the bank or with an agent, there is no difference and this would save the agency banking. But at the time there was no plan to send anyone away from the bank with money! is that what is happening now!!??



i got angered about that juala cash deposit thing later they forced us to deposit to agents inside the hall who had the capacity to tell me float imeisha i later deposited outside the bank they should know am not going back there

@MB, the agents are in the banking hall but they dont feel customers unlike bank staff. And when depositing large amounts of cash, the issue of 'sina float/float imeisha' keeps cropping up even in the banking hall. Not pleasant at all.

Partly we are also resisting change smile
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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MaichBlack
#267 Posted : Monday, December 21, 2015 4:59:59 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,838
Ouch!!! "Sina float!" and you are inside the banking hall.

That might piss you off from here to timbuktu!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Ericsson
#268 Posted : Monday, December 21, 2015 5:01:40 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Ouch!!!Ouch!!! "Sina float!" and you are inside the banking hall.

banking taken to stoneage days
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Lolest!
#269 Posted : Monday, December 21, 2015 5:17:30 PM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
Shocked they could be doing that! I thought the guys receiving cash are staff!! I liked the cheque deposit system though
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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FRM2011
#270 Posted : Monday, December 21, 2015 5:42:50 PM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
Just talked to an insider and apparently that was a key recommendation from the Mckinsey review.

The bank has made huge investments in technology but they are not getting the RoI from the same. Solution; throw atleast 50% of transactions to the alternative channels i.e. Atm, Internet, Mobile and agents.

Will be interesting to watch how this turns out seeing their customers are not amused by the new strategy.
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