Creating a customer source of wealth framework at Asian private bank: An action research

• Main Author: Tongco, Georgina A.
• Format: text
• Language: English
• Published: Animo Repository 2019
• Subjects: Banks and banking; Customer relations; Finance and Financial Management
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/7068
• Institution: De La Salle University

Purpose: The purpose of this action research is to create a framework that will aid the Marketing Associates and Relationship Managers in the preparation and presentation of source of wealth information for customer account opening proposals. Design: This action research follows the Action Research Cycle by Coghlan and Brannick (2014), a pre - step of context and purpose followed by the main steps of constructing, planning action, taking action and evaluating action. This paper covers two action research cycles, and the collaboration was done through co-inquiry with my team head (TH), other marketing associates (MA), relationship managers (RM) and two local compliance officers (PH CO). Findings: This action research highlights a research gap in private banking account opening practices. The guidelines and standards set forth by regulating bodies are straightforward, but the methods available to employees to meet these guidelines and standards are incomplete. The research has served as a platform for the creation of a customer source of wealth framework which we seek to continue improving given the evolving definition of a “robust” account opening proposal. Value: This research demonstrates the use of the action research cycle to create a collaborative space for colleagues to solve problems in the workplace. Within our team, it led to the creation of a customer source of wealth framework that assists in the task of preparing and presenting customer source of wealth information. Research Limitations: This action research will focus on the relationship manager and marketing associate’s role within the account opening process. This research will not cover changes to compliance policy or their evaluation process because these were created according to regulatory and industry standards.