Looking At The Maybank ATM Machines

Looking At The Maybank standard atmosphere MachinesMaybank was founded by Malaysian vexation tycoon Khoo Teck Puat, who died in 2004. Amirsham Abdul Aziz. Dato Sri Abdul Wahid Omar was offici completelyy appointed as chairman and CEO of Maybank Group in May 2008. (http//www.maybank2u.com.my/)Today, it is the largest fiscal run theme in Malaysia. Its extensive increases and renovations entangle commercial banking, enthr onenessment banking, Islamic banking, onshore banking, leasing and hire purchase, insurance, factoring, trustee assistances, asset caution, stock broking, nominee serve, sham great(p) and Internet banking. (http//www.maybank2u.com.my/)Maybank currently ranks among the carousel five banks in ASEAN, and is a Qualifying Full Bank (QFB) in Malaysia. For the convenience of Maybank clients, all Maybanks 374 classify self-confidences and to a great extent than 2,800 ATM machines be strategically fit(p) in two the stage business districts and suburban e states.( http//www.maybank2u.com.my/)Today, Maybank proudly stands above its peers as Malaysias flagship monetary serve grouping in a vibrant, untouchable and risquely hawkish banking and monetary serve landscape. Total assets of the Group stand at RM310.7 billion.( http//www.maybank2u.com.my/)2.0 interiorChiefly, the environmental factors argon categorized into two divers(prenominal) groups, they atomic turn 18 internal and outer. Internal factors be taken place within the boundaries of organisation. Specifically to the case of Maybank, on that point be a few(prenominal) signifi give the axet internal factors that they ar subject to go away be examined much(prenominal) as products and services, vision and guardianship, overdress abbreviation, and lead.2.1 SWOT analysisStrength tumescespring cognize bank 374 showtime maps in Malaysia. to a greater extent than 2,800 ATM machines Correspondent banking relationship with 700 foreign banks finished fall o ut the world. Strong writ of execution where it was listed second largest in Malaysia Stock interchange and Bursa MalaysiaWeaknesses-Inefficient Service and scurvy guest Service. Have to pay huge amount of silver to stakeholderOpportunities-experts in the manufacture and shares their experience with the employee Maybank get under ones skin many other investments from other companiesThreat economic slowdown like right at a time where stalling economies are disconsolate for the banking sectorTable 1.0 SWOT analysis2.1.1STRENGTHSIt is a sound known bank where it have oer 374 branch office and more than 2,800 ATM machines. Correspondent banking relationship with 700 foreign banks throughout the world. It as fountainhead have assortment in product where they provide possibleness report, giving loan, credit tantalises, investment insurance, and Islamic banking.(http//www.maybank2u.com.my/)Strong per ca-caance where it was listed second largest in Malaysia Stock Exchange and Bursa Malaysia and Maybank workforce come from a multifaceted background of skills, disciplines, experience and exertion knowledge to create talented teams of idea generators.2.1.2WEAKNESSESInefficient Service and poor node service, for example Maybank does not have bank systems be alter with built-in hostage de wearment features to verify their guests explanations and details without having to rely on a piece of physical paper with a signature. This would stool customer harder to counterchange over card or change floor if go to different branch. This multifariousness of service is totally unacceptable in todays hawkish world where era equals money.Have to pay huge amount of money to stake where dividend payout dimension (of 60%) to the stakeholders. They set policy to pay dividend of 60% percent of their amplification as the long term policy.2.1.3OPPORTUNITIEGrowth of existing tradeplace where Maybank is experts in the application and shares their experience with the employee so by then they tooshie open further in the industry.Maybank have many other investments from other companies and boom its operations in Vietnam, China, Philippines and India. (http//www.maybank2u.com.my/)2.1.4THREATSEconomic slowdown like right now where stalling economies are bad for the banking sector as it impedes loans growth which is the sectors carbohydrate and butter (borrowers become more cautious) and it stirs up bad loans (due to the burden of cost increase borrowing cost) which in turn erodes a banks financial comfort.) The job is make harder by a brutally competitive landscapeHSBC and how it has grown from the Hong Kong and move Banking Corp in the past to becoming a truly globose bank today. They were even been bold enough to venture into Islamic Banking and created HSBC Amanah at a time when approximately banks, especially foreign ones, were figuring out what Islamic Bank was all about and were skeptical.(http//www.hsbc.com.my/1/2/ in-person- banking/deposits/basic-current-and-amanah-basic-current-account-i)2.2Product and serviceMaybank product and service range includes commercial banking, investment banking Islamic banking, offshore banking, insurance and takaful, factoring, trustee services, asset counselling, stock broking, nominee services, venture capital and internet banking.Maybank has consistently set tender benchmark for the product and service delivery by achieving many prototypals in the industry which include the jump to introduce a rural credit scheme, mobile banking services, internet banking and due financing on a non-recourse basis.( http//www.maybank2u.com.my/)The product is knowing to satisfy a certain require and normally is sold in a competitive environment and so that product success is very much drive by market forces and mustiness compete on cost, persona in the board sense, and delivery time.(Derek L.Waller 2003,page 147)In an effort to reinforce service quality standards and continuou sly promote service excellence, the Maybank implements various curriculums such(prenominal) as customer sales, and service learning programmes, service standards monitoring, and customer surveys.In Maybank, it has several different type of savings account services provide to the customer. typeface for the savings account products are Golden Savers Saving Account, specially tailored for senior citizens, retirees and those training for early retirement. This account offers high returns and a host of other benefits and discounts meant to fire your golden years. Yippie saving account a saving account designed for children aged below 18 years old.Children discount start an account with as little as rm1, and love monthly dividend on a profit-sharing basis. (To get more info, beguile discover to vermiform process 1 and appendix 2) (http//www.maybank2u.com.my/)2.3 Vision and missionVisionThe visions of Maybank are To be a lead regional financial services group by 2015.MissionAn m akeup direct to have effective operation management effort must have Mission, it will help them knows it is going and provide boundaries and focus for brass section. Maybank mission are1) To be the top five financial services group in South/South East Asia, by size andPerformance.2) unquestioned leadinghip in Malaysia, across all high margin/profitable products/segments3) Truly regional organization, with 40% of gross loans derived from internationaloperations4) learning for delivering modernistic and superior survey proposition to customers5) Top quartile employer of talent in each of our markets.(http//www.maybank2u.com.my/)(To get more information please refer to appendix 3)Figure 1.0 Leap 30 Performance purifyment Programme2.4 LeadershipMaybank is committed to inculcating a leadership nicety which not only encourages high impact chat but alike reputes ideas and feedback. Active communication is the key to ensuring Maybankers are well-informed and knowledgeable about the Groups operations, business strategies and management findings.As part of Maybank vision to create world-class managers, Maybank have a robust Leadership Model built on the leadership ism and competencies that are required to support the Groups aspirations. Maybanks leadership philosophy describes the essence of a great leader guided by the corporate values of teamwork, integrity, growth, excellence, skill and relationship building. The leadership competencies serve as a guideline for judgement of leaders and reiterate the six core competencies that every Maybank leader should have. These are strategic thinking, a spirit for achievement, powerfulness to develop talent and browse relationships, being customer-centric and the desire to innovate and change. (http//www.maybank2u.com.my/)In order to increase the strong point of maybank staff, a Mentoring programme was introduced for the succession plan candidates of identified C- meete positions. Foundation programmes within M aybanks Personal Managerial Effectiveness Learning Roadmap were also structured for door level and executive positions while intermediate programmes were targeted at team leaders and new managers. The advanced programme promotes a talent development culture which places emphasis on leadership across all boundaries. One such example is the Maybank Great Manager (MGM) programme aimed at improving managerial skills, capabilities and knowledge. In 2009, a total of 103 Human Capital workshops involving the participation of 2,000 managers were completed.(http//www.maybank2u.com.my/) Maybank one-year report 20093.0External3.1Political and LegalThe operations of Maybank are affected by the government policies on the regulations of banking industry. Currently government are dominateling the marketing of banking industry beca consumption of responsible for promoting a stable monetary and financial structure.. Governments also control the license condition for open the banking industry an d other legislation need to follow such as Central Bank of Malaysia act 2009,Banking and monetary Institutions Act 1989(BAFIA), and Exchange Control Act 1953. (http//www.bnm.gov.my/index.php?ch=14)Good relationship with government in giving mutual benefits such as employment and tax is a must for the association to succeed in any foreign market. Maybank should also protect its workers by ensuring all the hiring, compensation, training or repatriation is according to Malaysian Labor Law as stipulated. mannikin Wages, salaries, bonuses and social security contributions are recognised as an expense in the year in which the associated services are rendered by employees of the Group and the Bank.(http//www.maybank2u.com.my/)3.2EconomicsThe year 2009 was tough would be an under literary argument given the upheaval created worldwide as a result of the worldwide financial crisis that saw financial giants fail or requiring Government support. In these tall(prenominal) times, Maybank rem ained nimble and strong. Maybank was able to withstand the challenges of a highly stressed and competitive operational landscape given its strong capital and fluidness position, and continue to play a significant role in ensuring that credit the Great Compromiser available to help the Malaysian economy and to support Malaysian business and consumer economic activities. Example For the year ended 30 June 2009, Maybank recorded higher(prenominal) revenue of RM10.5 billion compared to RM9.6 billion last year. However, net profit was deject at RM691.9 one million million million compared to RM2.9 billion recorded in the previous year. The start profit was largely due to higher loan loss provisions, interestingness on the additional RM9.1 billion securities and subordinated debts issued in 2008 as well as the impairment charges in relation to its investment in BII and MCB Bank of RM1.62 billion and RM353 million respectively. Excluding the impairment charges and the reversal of the allowances for the non-refundable deposit for the BII acquisition, Maybank Groups core profit subsequently tax stood at RM2.18 billion. ( (http//www.maybank2u.com.my/)( To get more information please refer to appendix 4)3.3 SOCIALThe changing lifetimestyles of Malaysia due to development of Malaysian economy should be also taking into consideration. While more people are able to purchase car and house, there are a descend of ho utilise loan and hire purchase packages that have been developed in the market to suit the occurrence needs of the borrower. They want to have greater innovation, value, quality in services and more conveniences that can say one bank from another. Besides that, Consumers want technology in their life and facilities such as credit card wages, online banking channel for hires or opening a bank account. All these needs should also be taken into consideration. For example Maybank online portal has the largest number of payee corporations. Close to 700 types of bills can be remunerative via Maybank2u.com (http//www.maybank2u.com.my/)3.4TechnologyTechnology is widely recognised by various literatures on strategic management (Capron and Glazer, 1987 Johnson and Scholes, 1993).Over the past few decades the impact of technology, in particular information technology, is undisputed in almost every aspect of banking industry. Currently, Maybank is the established market leader in online banking in Malaysia, with the largest user base of 3.8 million customers and the highest number of web based product offerings online. Maybank2u.com was voted as the Best strike off for Banking Online and was awarded the Brand Laureate apportion by the Asia Pacific Brands Foundation. Besides that, Maybank employ the modish in encoding technology to control strongty and confidentiality of your transactions.3.5EnvironmentalMaybank has a strong policy that supports environmental issues. Maybank efforts to reduce its carbon footprint encompass some(p renominal) its operational as well as product offerings.In passing(a) operations, environment-friendly practices are constantly encouraged. This includes recycling of paper, electronic communication, utilising energy-saving practices for lighting and air-conditioning as well as centralised printing to reduce use of individual printers and consumables. Example in introducing new products, Maybank is offering more paperless transactions, implementing electronic payment and online statements. The new American Express Gold reference card provides online statements, while the nations first Online Bill Presentation service with Tenaga Nasional Berhad introduced electricity bill statement and online payment via Maybank2u.com.( http//www.maybank2u.com.my/)Task24.0 Influence of policies and decision making on E- businessE-banking is defined as the automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication chan nels. E-banking includes the systems that enable financial institution customers, individuals or businesses, to vex accounts, transact business, or obtain information on financial products and services through a public or private engagement, including the Internet. Customers access e-banking services using an intelligent electronic device, such as a individualized computer (PC), personal digital assistant (PDA) or automated narrator machine (ATM).( Institut Bank Bank Malaysia)4.1 Influence of policies and decision making on E- business to customer4.1.1ATM (automated teller machines)Automated teller machines providing banking services, in particular cash dispensing service which facilitate direct withdrawals from deposit accounts and check account balance at previously unfeasible location and time. ATM are efficient in dispensing controlled amount of cash rapidly and accurately. To move customer to more efficient delivery channel, ATM handle other unproblematic transactions, whi ch are often categorized as being of low value to the bank.(Institut Bank Bank Malaysia)Maybank provide more than 2,800 ATM machines are strategically located where customers require cash to make purchases, such as at shopping centres, PETRONAS petrol service station or outside the branch premises. Maybank customers are able to conduct banking transactions after normal office hours. Maybank ATM performs banking transactions including cash withdrawals and funds transfers at customer pet time convenient access to cash, in topical anesthetic currencies, when customers are overseas. .( http//www.maybank2u.com.my/)4.1.2E statementWith the growth and maturity of online statement delivery, paperless statements are fast becoming the norm in the banking industry. Paperless statements under different service tags ranging from E-Statements, Email Statements, PDF Statements and Online Statements. Paperless statement can be made available through emails, e-banking services or over websites and are usually free of charge.Maybank bank is offering more paperless transactions, implementing electronic payment and online statements Example the new American Express Gold cite card provides online statements, while the nations first Online. Customers are also being to switch to online statements instead of receiving printed copies. It is palmy n convenient for customer to tracking personal financial and mange personal account online any time. (http//www.maybank2u.com.my/)4.1.3Credit card(online transaction)A plastic card that allows a person to purchase goods and services by paying with money borrowed from a creditor. The borrower then repays the credit card company, often with interest. The borrower doesnt always have to pay interest, because paying the debt off on time might not result in interest being charged.http//157.166.255.31/2009/LIVING/studentnews/03/15/financial.glossary/index.htmlCredit card is often the most convenient method around when customers need to buy somet hing important or when customers need to fund an emergency that occurs. Maybank offers a wide variety of credit cards. There are different types to suit different lifestyles and needs. There is the Maybank-Sogo Visa Card in guiltless and Gold, The Classic and Gold MasterCard and the Classic and Gold Visa card. The Maybank credit card payment online service is a facility that is available to customers. The valued customer can pay a variety of bills over the internet by using a Maybank credit card. It saves plenty of time that would be better spend on other pursuits and projects. ( http//www.maybank2u.com.my/)There are rewards to be had when customer use the Maybank credit card payment online service. Customer becomes eligible for points under the banks GiftPoints programme when customers use their Maybank credit card to make purchases over the Internet. (http//www.maybank2u.com.my/)4.1.4 E-shoppingImprove on its policy of meeting the customer needs efficiently and effectively by as sisting the commercialisation of e shopping. Customer can find it convenient and easy to online shopping from the comfort of their habitation or office. Maybank offer variety of product service online such as electronics, gift and collectibles, health and beauty, kids and newborn, mark fragrances, tog and travel cogwheel. (http//www.businessdictionary.com/definition/online-shopping.html)Decision makingMaybank Customers can purchase a variety of products and services online and pay conveniently by direct debit from their Maybank Savings and Current Accounts Maybank2u.com Cyber sum offers convenient and reliable online shopping. Maybank number one focus is customer satisfaction. Customer can expect quality merchants, value for money and take advantage of special offers. Enjoy shopping at customer own convenience from customer home or office with the assurance of a secure connection. Maybank trust that shopping at Maybank2u.com Cyber Mall will be a rewarding experience.( http//mal l.maybank2u.net/main.jsp?pageid=Home)(To get more information, please refer Appendix 6 )4.2Influence of policies and decision making on E- business to businessThe flagship B2B cash management system from Maybank, Maybank2e.net, remains a sought-after(prenominal) solution as it assigns its parapraxis-edge lead in managing thickening financial supply chain and working capital activities under a well integrated platform. The system has expanded its capabilities and currently contains six different modules training way, Payables Management, Receivables Management, Liquidity Management, and Financial Supply Chain and Corporate function.The cash management front is becoming increasingly demanding where companies have to efficiently manage liquidity across their businesses. A strong testimony to Maybank our commitment is the number of awards accorded by international organisations to Maybank2e.net including FinanceAsia Best Cash Management Bank Country prize 2009, Best Cash Managem ent Bank for Malaysia Asset Triple A Transactional Banking Awards, Best Local Currency Cash Management Services 2008 Award by AsiaMoney Polls and Alpha SEA Best Cash Management Bank Award. (To get more information, please refer to appendix on title of Award and Recognition.)4.2.1 E-paymentElectronic payment is any digital financial payment transaction involving currency transfer between two or more parties (source World Bank) Internet is usually believed to be the only mode. In reality e-payments cover a much broader range (phone, interbank networks, etc)(http//www.intracen.org/e-trade/docs/nepal/catani.pdf)Maybank2e.net e-payment represents a whirling in the manner in which customer business is able to actualize payment transactions. It caters for a complete range of payment transactions such as funds transfers and local / foreign remittances. Maybank e-payment also provides a countrywide payroll service, allowing customer to automatically credit employee salaries directly into their designated accounts. Convenience is offered via the ability to submit contributions online to statutory bodies such as Employees Provident Fund (EPF) and societal Security Organization (SOCSO). (http//www.maybank2e.net/is_epayment.shtml)Submitting payments online increases the efficiency of the payment process by cutting down manual tasks and processes. Payments can be made to both Intrabank (within Maybank Group) and Interbank (other local banks) accounts through the GIRO and RENTAS platforms. All transactions are guaranteed total security with Maybank leading edge security infrastructure. With online reporting, customer access to accurate and well-timed information for account reconciliation. Customer can view their file status, download processed files or print a summary of the processed files.4.2.2E securityMaybank2e.net is highly committed in ensuring that all transactions performed through www.maybank2e.net are secure, safe and confidential. The security features of Ma ybank2e.net have been tailor-made to meet the requirements of corporate users. Maybank2e.net is located within the internal security system of the bank, which provides firewall systems, strong data encryption (128-bit SSL), anti-virus trade protection and round-the-clock security surveillance systems. Beside that, regular security reviews of Maybank systems by Maybank internal system auditor as well as impertinent security experts. In additional, Maybank2e.net has incorporates a comprehensive security infrastructure, utilising binding encryption on all data transmission. Security control is further implement via audit trails, dual control access levels and re-authentication. This guarantees that corporate user transactions are protected, private and secure at all times.5.0Effectiveness of e-business in Maybank5.1Electronic BankingMaybanks Consumer Banking is anchored by its strong franchise, which encompasses the most extensive ATM network coverage in Malaysia. Maybank maintains the lead in having the most number of largest ATM network in the country with market share of 32%. During the year, Maybank installed 92 Off-Bank ATMs throughout Malaysia. In January 2008, the branch network was migrated from a legacy framerelay system to an Internet protocol Virtual Private Network (IPVPN), leading to reduction in network complexity, easier network management and improved cost effectiveness as well as exchange of encrypted confidential data. Currently the IPVPN service operates at more than 400 branch networks, over 2,800 ATMs and 160 point-of-sales merchant networks.Figure 2.0 flesh of Maybank ATM and CDMFrom Figure 2, it shows that, Maybank has increased their number of ATM machine by 107% from 1356 to 2804 in year 2005 to 2009. Beside that, Maybank has increased their number of CDM machine by 87% from 485 to 910 in year 2005 to 2009.5.2Online bankingMaybank2u.com is the No.1 Internet banking website in Malaysia with 3.8 million registered users and a market sh are of over 54%. The strong growth during the year was attributed to innovative product offerings through electronic commercial transactions as well as a shift from simple fund transfers to more complex transactions. Example the First Public Report of Online Usage in Malaysia released by comScore a leader in measuring the digital world, listed Maybank2u.com as the top local site in Malaysia. The report includes a ranking of the most visited Internet properties and top visited local-based properties, based on the comScore World Metrix service. In June 2009, 9.3 million people in Malaysia age 15 and older accessed the Internet from home and work locations, with each consuming an average of 1,066 pages of content and spending some 14 hours online during the month. Maybank2u.com topped the list as the most visited local site, with more than 1 million visitors, reaching nearly 12 percent of all Malaysians online, making it the most engaging site of the top 10 Malaysian properties.Table 2.0 Top 10 sites in Malaysia5.3 New Electronic ServicesMaybank introduced the All-new, All-you Maybank2u.com by revamping Maybank existing website with new features in compliance with web 2.0 technology. Maybank also kicked off Malaysias first online bills summary by a bank, My Bills. Initially launched with Tenaga Nasional Berhad, users can now also view, pay and save DiGi and TM bills via this facility.Additionally, Maybank online portal enables users to make additional ASB investments online, the first and only facility in Malaysia. Launched by the bloom of youth Minister on 21 April 2009, the facility also allows third company investment in ASB.Currently, Maybank online portal has the largest number of payee corporations. Close to 700 types of bills can be paid via Maybank2u.com. This will be further bolstered with additional Government-partnered initiatives such as online payments for Agensi Kaunseling dan Pengurusan Kredit, Skim Simpanan Pendidikan Nasional and the Ministry of Finance Housing Loan Scheme.6.0Area to improvement6.1Hire expertise, provide trainingMaybank should hire more expertise in order to implementation and tribunal e-banking efficiently and effectively. Beside that, Maybank should provide a holistic approach enhancing employee skills and competencies through its online e-learning programmes. The programmes include upkeep, maintenance, security and implementation of networks. All crew members should be well-trained before move them to work career.6.2Improve quality of maybank website (www.maybank2u.com.my/)Maybank should consume extensive amounts of time and money to define, design, develop, test, implement, and maintain website in order to improve the quality of e products and service. Beside that, Maybank staff should treating complaints severely and resolving them as quickly and fairly as possible.If Maybank wants their Maybank2u.com to be best-selling(predicate) among online banking website it should leave the user with a posi tive impression about the organization, so consumers can get an impression that the company cares about them.6.3Increase online securityMaybank should ensure that all transactions performed through their online financial service are secure, safe and confidential by installing the latest firewall systems, strong data encryption, anti-virus protection and round-the-clock security surveillance systems to detect and prevent any form of illegitimate activities on maybank network systems. Beside that, keep on update concealment protection control systems when new versions are released. So that Maybank customers can enjoy Maybank Internet Banking with total peace of mind.6.4 Increase Maybank e shoppingAt Maybank2u.com Cyber Mall, Maybank offer variety categories such as electronics, gift and collectibles, health and beauty, kids and newborn, branded fragrances, clothing and travel gear but each category provides few or even none of product and service. Example the travel gear didnt provid e any product or service. Maybank should find more potential and quality partner merchant, to provide more product and service to satisfies customer need and want. Beside that, Maybank need to provide multiple images from different angles for the product. An image in each color, of the front, back, and sides, and even detailed shots of specific features can all go a long way toward making a consumer more apparent to buy.7.0ConclusionIn conclusion, this report analyzes both internal and external environment of Maybank, a largest financial services group established in Malaysia. Due to the aloofness constraint of the report, there are only significant environmental factors are analysed in terms of their influence on the organization and the organizations response towards environmental changes.Internal environment factors are analyzed include products and services SWOT analysis, Vision and mission, and leadership,. Any product or policy of a company has to reviewed and make change a ccordingly that fit to the contemporary needs of the organization. Example the Maybank Great Manager (MGM) programme aimed at improving managerial skills, capabilities and knowledge.The external factors are political, economy, social, technology, environment and legal. Five of these factors exert tremendous pressure on Maybank business operation especially the economical factors. For Example result of the global financial crisis that saw financial giants fail or requiring Government support. Maybank remained prepared and strong. Maybank was able to withstand the challenges of a highly stressed and competitive operating landscape given its strong capital and liquidity position.The second part of the report analyzes the influence of e- business toward Maybank in terms of policy and decision making. Besides, the effectiveness of response to those concepts is studied as well.Lastly, there are few recommendations have been suggested to improve their current initiatives of knowledge manag ement and learning organization concept. For instance, Maybank could move themselves even closer to success in e-business by Improve online security, improve maybank e- shopping, improve quality of maybank website and provide training and hire expertise. reference pointDerek L. Waller, 2003, Operation Management, Italy, Gray Publishing.Capron, N. and Glazer, R. (1987), Marketing and TechnologyJohnson, G. and Scholes, K. (1993), Exploring Corporate Strategy working(a) of Financial institution (Institut Bank Bank Malaysia) price of admission From www.maybank2u.com.my/ 2 march 2009Access from http//university-essays.tripod.com/pest_pestel_pestle_lepest_analysis.html2 March 2009Access from http/