The programs were basically revolving around the techniques which would be implemented by the organization. In this order of ideas, the most focus was placed on the De Le Rue coin counting machine and the Datacard 150i instant issue debit card machine. Employees were taught how to operate, maintain, balance and audit the according operations. Emphasis was also placed on the Relationship Bankers in reference to the new account bounding process including free gifts and the Refer-a-Friend process. The improvement plan sees the continued training programs which teach staff members how to most efficiently operate the new systems and how to explain their benefits and functionality to the customers. Also, BB&T should remain channelled on the emergent changes affecting the market and the industry and should develop ways of integrating the new demands and features.
Coin Deposit Center
The coin deposit center was developed keeping in mind the benefits it could generate upon the operations of the BB&T Corporations. The machine allows customers to deposit their coins without having to count or denominate. This means that the operations at the register and reduced and simplified, materializing in an increased operational efficiency and higher employee on-the-job satisfaction. The main specifications to be made relative to the potential improvements to the coin deposit center refer to the enlargement of the languages offered. In this order of ideas, convenience banking would be increased as more customers, coming from various cultural backgrounds, would have access to the machine. Also, the design could also be improved in order to make the interface more user-friendly.
Aside the improvements to be made directly to the product, convenience banking could also be supported through training programs which teach the employees how to best use the coin deposit center. Once this is achieved, the staff members will be able to transfer their knowledge to the customers. They will also be able to improve customer value and satisfaction (Talaris).
Instant Issue Debit Card Machine
The Datacard 150i is a revolutionary machine within the banking system which increases customer satisfaction as well as operational efficiency by reducing the time an order is served. Basically, the Datacard 150i issues credit and debit cards within minutes and "is ideal for banks, credit unions and retailers that want to offer new card products, increase revenue and strengthen customer loyalty." The key features of the product include "embossing, magnetic stripe encoding, color toping, indent printing (and) contact or contactless smart card personalization" (Card Wizzard).
Currently, BB&T only uses the Datacard 150i to issue debit cards. In this line of thoughts then, the suggestion is for them to also use it in the issuing of credit cards. This would lead to the better satisfaction of an increased palette of customers. Also, it is compulsory that the upgraded versions of the card issuing machine and its adherent software integrate the emergent changes in terms of client demands and market features.
When discussing the improvements that can be made relative to the Datacard 150i, one must consider the problem through financial lenses as well. In this order of ideas, the unit cost of a machine is of $10,943.00 and its maintenances and software costs rise to $27,060.12. The sums pose even more difficulties when the banking institution does not charge its customers for the rapid issuing of cards.
The company estimated an annual number of 5,684 reissued cards. Charging $2.00 per reissued card would total to revenues of $11,360.00; a $3.00 fee on a reissued card would total up to $17,052.00 and a fee of $5.00 per reissued card would generate annual revenues of $28,420.00. Adding such a cost would stand the risk of generating customer dissatisfactions. However, it would be useful and efficient for BB&T to charge a specified cost whenever the customer requires the issuing of an additional card before the expiry date of the first card. Such requests could be due to loss, theft or misplacement of the original card and the price would help the bank better amortise its expenditures.
The $3.00 fee seems the most appropriate one, due to several reasons. First of all, the customers would find it reasonable as it...
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