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“Confidential Strictly for internal Circulation Only” ITEM NO. PUNJAB NATIONAL BANK MANAGEMENT ADVISORY SERVICES DIVISION HEAD OFFICE: NEW DELHI Meeting Date___________ MASD/EIC August 10, 2010 For Information GIST OF THE PROPOSAL: Leveraging Technology For Superior Customer Experience. EXECUTIVE COMMITTEE To improve our customer service and enhance our customer base, especially the high value customers, we need to change the way we interact with them. Some suggestions based on better utiliza
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  “ Confidential Strictly for internal Circulation Only”  PUNJAB NATIONAL BANK  MANAGEMENT ADVISORY SERVICES DIVISIONHEAD OFFICE: NEW DELHIMeeting Date___________ MASD/EICAugust 10, 2010 For Information GIST OF THE PROPOSAL:Leveraging TechnologyFor Superior CustomerExperience.EXECUTIVE CO M MITTEE  To improve our customer service and enhance our customer base,especially the high value customers, we need to change the way weinteract with them. Some suggestions based on better utilization of internettechnologies and digital communications are suggested hereunder : 1. Cocreation : Use of Web extends organization’s reach and lowers thecost of serving customers. For instance, we can have customer supportcommunities where more experienced customers give advice and supportto those who need help. The most significant contributors may becomevisible to the community by showing the number of questions they haveanswered and the number of “thanks” they have received from other users.When customer communities handle an issue, the per-contact cost can bemuch lower than the cost to resolve the issue through traditional callcenters. This can also be used for extending reach by using the Webfor word-of-mouth marketing . We can also utilize ouronline/internet/mobile banking and other customers on similar lines. An up-front research to identify potential participants who have the right skill setsand will be motivated to participate over the longer term can be enlisted forthis. 2. Socially networking the organization: Using social-networking, wecan utilize valuable inputs and knowledge resources among our world-wide staff  and other stakeholders. Using Web technologies toexpand access to experts around the world, Bank can set up new innovation communities across separate business units . E.g. RetailBanking can set up an interactive website where country-wide practicesbeing followed by our competitors can be posted by any employee whichcan be analysed and implemented or else countered in some better way byus. Social network can also help management in identifying the talent theyneed to execute projects across different business units and functions(including retired employees to broaden the pool of talent). ITEM NO .  “ Confidential Strictly for internal Circulation Only”  3. Collaboration at scale: Improved usage of    collaboration tools likevideo conferencing can be a great cost and time saver. The savings on timeand money on travel is more than often is much higher than the company’sinvestment on such technology. Besides, customer interactions can beviewed by staff to get insights. Top Management can also become a part of Customer Meets as well as Staff Meets across the country without need of being physically present which is often not convenient due to their busyschedule. Such improved availability would certainly reinforceconfidence levels, provide instant solutions to problems of field functionaries, generate greater ideas and create a better bondingbetween the corporate office and the field. Collaboration technologieslike video conferencing have the potential to revolutionize organizations,expand their reach & empower employees and hence we should look intothe ways to explore it more. 4. Experimentation and big data: What if we could analyze everytransaction, capture insights from every customer interaction, and don’thave to wait for months to get data from the field? There is a need toanalyse “big data” available with the Bank   through a   multifunctional teamof financial analysts, IT specialists and marketers. This way we can segment product wise customers for tailoring products toindividual risk profiles .  The team should conduct extensive surveys andexperiment with combinations of market segments and new products. 5. Green IT Initiatives:  To reduce the environmental impact of our IT, weshould adopt “green data center” technologies to reduce the energydemand of the ever-multiplying numbers of servers needed to cope withdata. Such technologies include virtualization software (which enablesmore efficient allocation of software across servers) to decrease thenumber of servers needed for operations.PNB as an organizations need to think strategically about adopting theabove to improve delivery and keep in sync with customers’ expectations inthis fast changing scenario. Submitted for information, please. (Reeta Kaul) (B.L.Patheja) (Sushma Bali)Chief Manager Dy. Gen. Manager GeneralManager(Nagesh Pydah)(M.V.Tanksale)Executive Director Executive Director(K.R.Kamath)Chairman & Managing Director  
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