Indicative FSP

Reassessment of the Internet banking strategy of national bank of Greece

A new strategy for the Internet Banking service of the National Bank of Greece is proposed. Initially, a market research was conducted in order to estimate the current situation. This market research was followed by a competitive environment analysis based on data from the Greek Banks Association along with an analysis of the current strategy, as it has been shaped since 2001. To reassess this strategy we used the appropriate methodologies of strategy shaping. Based on these methodologies we suggest a new strategy for Internet Banking Service provision together with a marketing plan for its implementation. Due to the conflict among the vertical organizational structure of the Bank and the horizontal operation of the Internet Banking services we suggest that processes are shaped. We have recorded 59 basic processes that can be shaped and extended in proportion with the needs of the Internet Banking system of the National Bank of Greece. Additionally, we have developed a methodology to estimate the readiness of the company to implement these processes, not only for their first appliance but also for their development in time. Finally, we analyzed a typical process under the prism of Total Quality Management.

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