Examples of Innovative Products and Services
1. Objective
Identify current issues and areas of improvement for small business banking in Canada Recommend innovative banking products
3. Examples of Innovative Products and Services
Innovation Country Term Loans New Zealand Financing Products Diversity Loans U.S. Remote Deposit Capture U.S. Customer Customer Feedback Program, New Zealand Experience Online Banking Community Canada, U.S. Employee Benefit Programs U.S. Benefit Programs Priority Banking U.S. Foreign Exchange Order Watch Service Australia Factoring Canada Products Loans/Mortgages for Green Business Canada, UK, U.S., Greece “Think Card” UK Green Business Treasurers Reserve Account UK Green Business Advisory Support Canada Category
2. Research Methods and Scope
Official websites, professional reports, market surveys, government studies Domestic and international banks and credit unions (Canada, US, Europe, Australia and New Zealand)
4. SWOT Analysis
Strength • Advertisement capabilities • Familiarity with innovations • Scales of network allowing piloting • Difficulty with business process changes • Difficulty satisfying small business needs • Promote diversity loans • Promote green products
5. Gap Analysis
Gap analysis reveals potential solutions for the bank to fulfill customer requirements Most of the potential solutions can be categorized as “Social Responsibility Products”
6. Recommendations
Weakness
Opportunity Threat
A comprehensive social responsibility program includes: Loans to support local economies Loans to support women, youth, immigrant and disabled entrepreneurs Banking products to encourage and finance projects that contribute to environmental sustainability 7. References & Acknowledgements A point system to demonstrate recognition and appreciation for small business customers that share social values of the bank “Green Products for Commercial Banking Customers”, Business Banking Board, • Competitors going for Catalogue Number: BBB17TXCXH. Small Business
Identify current issues and areas of improvement for small business banking in Canada Recommend innovative banking products
3. Examples of Innovative Products and Services
Innovation Country Term Loans New Zealand Financing Products Diversity Loans U.S. Remote Deposit Capture U.S. Customer Customer Feedback Program, New Zealand Experience Online Banking Community Canada, U.S. Employee Benefit Programs U.S. Benefit Programs Priority Banking U.S. Foreign Exchange Order Watch Service Australia Factoring Canada Products Loans/Mortgages for Green Business Canada, UK, U.S., Greece “Think Card” UK Green Business Treasurers Reserve Account UK Green Business Advisory Support Canada Category
2. Research Methods and Scope
Official websites, professional reports, market surveys, government studies Domestic and international banks and credit unions (Canada, US, Europe, Australia and New Zealand)
4. SWOT Analysis
Strength • Advertisement capabilities • Familiarity with innovations • Scales of network allowing piloting • Difficulty with business process changes • Difficulty satisfying small business needs • Promote diversity loans • Promote green products
5. Gap Analysis
Gap analysis reveals potential solutions for the bank to fulfill customer requirements Most of the potential solutions can be categorized as “Social Responsibility Products”
6. Recommendations
Weakness
Opportunity Threat
A comprehensive social responsibility program includes: Loans to support local economies Loans to support women, youth, immigrant and disabled entrepreneurs Banking products to encourage and finance projects that contribute to environmental sustainability 7. References & Acknowledgements A point system to demonstrate recognition and appreciation for small business customers that share social values of the bank “Green Products for Commercial Banking Customers”, Business Banking Board, • Competitors going for Catalogue Number: BBB17TXCXH. Small Business
References: & Acknowledgements A point system to demonstrate recognition and appreciation for small business customers that share social values of the bank “Green Products for Commercial Banking Customers”, Business Banking Board, • Competitors going for Catalogue Number: BBB17TXCXH. Small Business Financing. [Online]. Canadian Bankers Association. A kick-off marketing campaign to promote the new program and a [2010, Oct. 20] website dedicated to providing information for the program • Losing customers to foreign We thank Prof. J.C. Paradi for providing us this valuable opportunity to work with a real client on an industrial project and Dr. J. Farvolden for guidance and advice Continuous cost/benefit analysis for products in the program and exchange companies along the way. We thank the Client for providing this project and supporting us with relevant information. We thank everyone who put in effort to make this changes as needed to match the social responsibility theme project available for us and wish the best for your future endeavors.