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Get a very important management strategic decision for bank is the channels that are to be used to offer transactional services. Banks ensure transactions are handled in the most profitable way for the banks and convenient way for their customers Atm installation services
Banks must consider the cost of each decision made as it impacts on their profits. The three channels considered in this article are Bank Branch network, ATM and POS.
The First channels is the Bank's Branch Network. Most banks have a chain of branches , spread throughout the country. Some banks even have cross border networks, meaning these kinds of banks have branches in other countries. Most branch networks are concentrated in urban areas or areas with high populations to prove the costs of their existence. Branches are the most expensive channels in place for banks. The expenses arise because the Bank must have physical residence and staff who run the branch. Many countries have a central regulatory body for banks and they regulate Atm installation apply the specification of the structured and design. The Building where the branches are must have physical security which are very costly. The Bank should make sure to make full use of the Branch Network And Atm machine installation to cut down the price of putting up these branches.
The second channel is the ATM. These give 24/7 services to customers who have access to the ATM. Apply for Registration The main access to the ATM is via Plastic cards, be they credit or debit cards. ATM are expensive to install and support and are found in highly populated areas. That is the reasons they are located in urban areas and areas where security is present. to improve the number of customers using the ATM, the Banks have to assure security to the customer. Customers visiting the ATM facility must feel and be safe. when the customer walks into an ATM lobby, the customers will not use the ATM if they feel threatened in any way. the Bank must consider the physical place of the ATM and avoid crime ridden neighbourhoods.
The last channel is the Point of Sale (POS). This channel is widely accepted and used in the developed nations. It is a recent development in many developing countries and not yet widely used or accepted. The Channel is very dependent on reliable network connectivity like the ATMs. The concept is that the POS is used as a substitute or supplement of the ATMs. The POS as a channel could reach more of the population because anywhere there is a shop with a POS machine, the channel is availed and used. POS machines may be hand-held and are used anywhere in the premises of the owner. This development has reduced skimming fraud by employees. POS machines are given to the agents by the banks on application.
The channels, that the banks option to use are in line with the strategic plans of the company. Banks combine at least two channels in providing transactional services to their customers.
Risk reduction measures are key and should be adopted by the Banks as they decide on the channels for transactional services.
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