CASELET: ABC Bank, one of the 26 PSBs of India, transformed itself into a process driven, IT-enabled bank, post nationalization. Over the past decade, ABC Bank had embraced new technologies by offering its services not only through internet but also through alternate channels including mobile banking at an early stage. Strategically, ABC Bank has positioned itself well at a time when rapid disruptive changes are taking place in the financial sector. It had faced the challenges in a much better way than many other peers through institutional leadership and digital drive. The history of ABC Bank's strategic digital positioning through its forward looking leadership is an example which is unique. The bank has set a target of becoming the 'Best Retail Bank in Customers' Perception by 2021'. The strategists at ABC Bank are pondering on the future course of action. It cannot ignore the competition from private banks and the new entrants but still has to step ahead of them if it has to realize its 2021 vision. Questions 1) What are the evolutionary forces shaping technology strategy and determinants of technology strategy? 2) What strategy should the bank adopt to drive growth in alternate channels in terms of percentage of electronic transactions and also income from channel operations? 3) State appropriate Vision and Mission statement for ABC Bank?
CASELET: ABC Bank, one of the 26 PSBs of India, transformed itself into a process driven, IT-enabled bank, post nationalization. Over the past decade, ABC Bank had embraced new technologies by offering its services not only through internet but also through alternate channels including mobile banking at an early stage. Strategically, ABC Bank has positioned itself well at a time when rapid disruptive changes are taking place in the financial sector. It had faced the challenges in a much better way than many other peers through institutional leadership and digital drive. The history of ABC Bank's strategic digital positioning through its forward looking leadership is an example which is unique. The bank has set a target of becoming the 'Best Retail Bank in Customers' Perception by 2021'. The strategists at ABC Bank are pondering on the future course of action. It cannot ignore the competition from private banks and the new entrants but still has to step ahead of them if it has to realize its 2021 vision. Questions
1) What are the evolutionary forces shaping technology strategy and determinants of technology strategy?
2) What strategy should the bank adopt to drive growth in alternate channels in terms of percentage of electronic transactions and also income from channel operations?
3) State appropriate Vision and Mission statement for ABC Bank?
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