Extension of banking hours by local banks
Since the development of the banking industry, banks have become more and more competitive. The increasing importance of customer-orientation has led banks to extend their banking hours. In order to ensure growth and competitiveness, banks not only have their branches open beyond normal office h...
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Main Authors: | , , |
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Other Authors: | |
Format: | Final Year Project |
Language: | English |
Published: |
2015
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Subjects: | |
Online Access: | http://hdl.handle.net/10356/62973 |
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Institution: | Nanyang Technological University |
Language: | English |
Summary: | Since the development of the banking industry, banks have become more and more
competitive. The increasing importance of customer-orientation has led banks to
extend their banking hours.
In order to ensure growth and competitiveness, banks not only have their branches
open beyond normal office hours but also on weekends. However, the necessity of
such a move by the banks is questioned, especially with the ready availability of
Automated Teller Machines (ATMs) which are sophisticated enough to perform
quite a number of the consumer banking transactions found in the banking halls.
The purpose of this report is to study the necessity for local banks -- Development
Bank of Singapore (DBS), Oversea-Chinese Banking Corporation (OCBC), Overseas
Union Bank (OUB), United Overseas Bank Group (UOB) and Post Office Savings
Bank (POSB) --to extend their banking hours.
The report starts off with a brief introduction on the past and present banking. It then
highlights the costs, benefits and alternatives of the extension programme. In order to
have the most up-to-date information regarding this topic, interviews and surveys on
bank managers/officers, tellers and customers of the banks were carried out. An analysis was also done on the data obtained to present the findings in a clearer
manner.
The report is finally rounded up with the project team's opinions on the topic in the
recommendation and conclusion chapters. |
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