14 Aug Increasing Visibility for NBF11. IntroductionThe Natoinal Bank of Fujeirah is on

Increasing Visibility for NBF11. IntroductionThe Natoinal Bank of Fujeirah is one of the most renowned financial servicesorganizations in Fujairah and the UAE. NBF has recently been tapping into the online trendand implemented the online banking service and therefore it creates an opportunity forclients to access their account details easily and securely.The paper emphasizes in framing recommendations based on the qualitative andquantitative analysis with the focus on new technological interfaces like mobile banking andinternet banking for retail customers. IT is essential for Natoinal Bank of Fujeirah tocompare itself with its better competitors like Emirates NBD and others (such as Mashreqand ADCB) in order to attract maximum of young consumers who are connected to theinternet most of the time and demand high level of efficiency and timeliness from the bank’sservices.With the above mentioned details and scenario, it can be said that Natoinal Bank ofFujeirah is a very robust organization with respect to its product and service offerings butlacks adequate exposure towards the technological tools and their applications which in turnaffect its visibility. The macro and micro environmental analysis is done to understand thevarious dynamic tools to discover the inherent strengths and weaknesses of the organizationalong with drawing its core competencies and competitive advantages (Easterby-Smith,2006).2. History of the Natoinal Bank of FujeirahThe Natoinal Bank of Fujeirah was incorporated in 1982 and has established itsreputation for excellence in the fields of corporate and commercial banking, trade financeand treasury and has recently expanded its range of services to personal banking.2The bank is committed to the financial growth of the UAE which is obvious through itsfunding of businesses through loans ranging from oil and shipping to facilities,manufacturing, building, schooling and healthcare (Lewis, 2005).The bank is the partner-of-choice for leading global counterparties in localassociations. Along with robust track record, stout national inheritance, deep marketawareness and steadfast concentration on service and innovation, Natoinal Bank of Fujeirahseeks to encourage lasting interactions with their consumers as they help them influencegrowth occasions in the ever-changing marketplace (Official website, NBF).3. Management problemNBF is a medium sized bank that is accomplished at corporate banking. On the brightside, their pricing is very good compared to the other banks. Therefore it is a popular bankwith companies that need financing. On the other hand, its retail banking is fairly new, that’swhy a lot of people haven’t heard of it. The retail banking is suffering because its reputationhas not been established in the market. The management problem is how to increase thebank’s visibility and how to make people recognize the bank.i.Competition: The utmost notable competition that Natoinal Bank of Fujeirah willexperience in approaching years is from Internet investment. Over this procedure,new banks are capable of proposing products parallel to those delivered byNatoinal Bank of Fujeirah. The change will be that new Internet banks will beable to deliver the similar services at much lower costs (Larence, 2012).ii.Substitutes: Substantial opposition amongst well established contenders in thebanking and financial business will pressurize Natoinal Bank of Fujeirah tosqueeze its processes and decrease fixed charges. Moreover, if Natoinal Bank ofFujeirah continues to be competitive with regard to alternates it will want toreflect internal instruments of cost control (Khirallah, 2002).3iii.Barriers to Entry: The marketing of online banking and creating visibly for thebank is the a problematic issue. Though the bank currently offers online bankingservices, other new financial entities operative exclusively through the Internetwill be able to radically cut charges, making it difficult for Natoinal Bank ofFujeirah to continue to be competitive, forcing them to cut their charges too.Clients expect not to pay for using online services (Khirallah, 2002).iv.Suppliers/Customers: The organization will have to take important measures tomaintain its clients and to enhance a new client base. This is compulsory for theassociation to safeguard reliable providers of revenue (Kandra, 2006).Visibility is a common theme in defining management success in many managementphilosophies. Visibility refers to the extent that an innovation can be observed before it isadopted. In order to increase a bank’s visibility and how to make people recognize the bank,various initiatives can be implemented. Online channels like search engine and social mediaoptimization, interstitial ads, and pay per click marketing; as well as offline channels likebillboards, direct marketing and e-mailers, and mail brochures. (Crumpton, 2010)5. Research questionThe research question which is to be answered is: What should be the most importantfactors that can be implemented by the Natoinal Bank of Fujeirah to ensure that it can caterto the retail customers as successfully as it has been doing at corporate client front?46. SignificanceThe significance of this research paper is to draw upon the experts opinions withrespect to the already available literature and the research done by the previous authors.This research will bring focus on the real time issues and the possible solutions of theproblem of reaching out to retail customers of Natoinal Bank of Fujeirah.7. Objectives of the research (managerial implications)The aim of this research can be explained in the following manner:1. Determine the factors for success of retails banking2. Gather the information for successful retail banking3. Know the results4. How to implement the results in order to market banking products to retailcustomers.8. MethodologyThe methodology for the above mentioned research question will be combination ofprimary and secondary research which will be carried out in phases with primary researchfollowing secondary research (Bogdan, 1975).9. Research Methodsi. Participant selectionThe sampling technique used for the research is convenience sampling since the samplingframe is limited to a particular group of individuals and it locates individuals which areselected randomly. Thus it is advisable to interview individuals who are easily available atthe right time to avoid problems because of the time constraint. The sample of experts onbanking and finance industry is 10 in number and the normal community members is 100,5which is enough to gather relevant information in a defined time frame (Rubin, 1995). Thepaper also sheds light on the evidential support required to implement the possible solutionsfrom the past literary work done by the various researchers in the area.Along with that, primary research will be done by carrying out the in depth interview in theunstructured forms and the group discussions. This will enable to gather information fromvaried sources as well as verify the real experience with the past literature review.ii. Methods for analysing research dataThe quantitative data can be filtered, consolidated and rewritten in the form of reviewreport. This data will be helpful in forming the opinions and judgement and also to contradictor corroborate the trends and patterns which are being displayed by the quantitative analysisresults. The quantitative analysis can be done by regression analysis to study the extent ofrelation and kind of relation between the independent variable and the dependent variables.Another test which can be done is the t-test to compare the averages, and test the hypothesisthat retail consumers are not related to these variables and the opposite results can hence leadto rejection of this hypothesis. Simpler techniques like percentages, average and variancescan also be calculated in order to arrive at much more comprehendible form of results(Taylor and Bogdan, 2004).iii. Expected ResultsCorporate Clients are the clients which belong to big companies and have a largeamount of investments with the banks. They are the most important set of customers whichshould be made aware of the change. The retail customer transactions are huge in number butcomparatively less in value so it is important to understand that the investment done inmaking the changes in marketing plan is justified by the financial gain by increasing theeffectiveness and efficiency of the processes. Also, the marketing team should be well awareof the facts and figures which will be improved. They should design a comprehensive plan of6how are they going to communicate the benefits to the customers and how will it affect them(Songini, 2001).10. ReferencesEasterby-Smith, M et al. 2006, ‘Management Research: An introduction’, 2nd ed. London:Sage Publications.Lewis, K. (2005). Remarks to National Bank of Fujairah Global Leaders Breakfast. NationalBank of Fujairah . Accessed March 16, 2006 at:http://www.bankofamerica.com/newsroom/speeches/speech.cfm?SpeechID=speech.20050926.03.htm.Larence, E. R. (2012). Information sharing: DHS has demonstrated leadership and progress,but additional actions could help sustain and strengthen efforts. GAO reports, 1-53.Khirallah, K. (2002). What banks can learn from insurers about CRM-and vice versa.National Underwriter/Life & Health Financial Services, 106(41), 14-16.Kandra, A. (2006). Baking on the web: Risky business? PC World, 24(3), 33-35.Michael A. Crumpton, (2010) "Leading Results: The importance of visibility", The BottomLine: ManagingBogdan, R.C. and Taylor, S.J. (2005), Introduction to qualitative research methods: Aphenomenological approach to the social sciences, Boston: Allyn & Bacon.Rubin, H. and Rubin, I. (1995), Qualitative interviewing: the art of hearing data, SagePublications, San Diego.Songini, M. (2001). Users mix and match when it comes to CRM. Computerworld, 25(17),12.7

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