Product and service delivery in banking refers to the process of providing financial products and services to customers through various channels. These channels include branches, online banking, mobile banking, ATM services, and other delivery channels. The aim of product and service delivery in banking is to ensure that customers have access to financial products and services in a convenient, efficient, and secure manner.
Banks offer a wide range of products and services to their customers, including savings accounts, current accounts, fixed deposits, loans, credit cards, and insurance products. The delivery of these products and services requires a well-coordinated effort from the bank’s operations, technology, and customer service departments.
In recent years, there has been a shift towards digital channels for product and service delivery in banking. Customers can now access banking services through online banking platforms and mobile banking apps. This has made banking more convenient and accessible for customers, and has also helped banks to reduce their operational costs.
However, the traditional branch-based delivery model still remains an important channel for many customers, particularly in rural areas. Banks need to ensure that they have a well-distributed network of branches and ATMs to cater to the needs of their customers.
The key to successful product and service delivery in banking is to understand the needs of customers and provide them with a range of products and services that meet those needs. Banks also need to ensure that their delivery channels are secure, reliable, and user-friendly, and that their staff are well-trained to provide high-quality customer service.
