A few suggested points to talk about on why we should have a branch at the airport:
– Convince for customer
– Customer Satisfaction
– Around the clock 24 hour service
– Tap into a new customer base
– We may offer discounts or packages for airport staff so they can transfer their salaries There is a shopping mall inside the airport, there are telecommunications company, there is the ministry of communications, ministry of justice and customs who can transfer their salaries to the bank
– It can enhance our reputation, especially by word of mouth
– Benefit travelers
– Increases forex transactions
– Potential for multi currency ATMs at the airport. Currently a rival bank has one at the airport, and its the only one in Kuwait that dispenses foriegn currency (USD, GDP, AED, EURO, SAR, KWD) State the number of ATMs needed
– Our credit cards holder benefit from complimentary access to VIP lounges around the world, so the airport branch can encourage travelers to take a credit cards.
– Plot a table comparing a one shift branch to a two shift branch to the airport branch.
The transactions are the same, the timing will be different. One shift branches operate from 8:30 AM to 3 PM, two shifts operate from 9 AM to 1 PM then from 5 PM to 7 PM, however the airport will be 24 hours.
One shift and two shift branches give priority to Personal customers waiting over Corporate customers. The airport branch will give priority to customers with a boarding pass over personal customers over corporate customers.
– The airport branch will be in the banks eyes a service center, not a profit center. The main objective for the branch is for the strong image of the bank. In turn the service center will turn into a profit center.
– *** The main focus of the branch will be issuing credit cards, focusing on our Gulf Rewards program and promoting our Gulf entertainer app (Its an application exclusive for credit card holders which give you a buy one get one free package available on the app store), exchanging currencies, serving travelers and employees of the airport.
– Introduce the concept of an instant credit card issue for travelers, so they can apply for one and get it at the same time. (this is currently not available at the bank, the card takes one day to arrive to the branch)
– So far in order for the branch to operate we will need three shifts consisting of eight hours each, the branch will need approximately 21 employees One operation manager, Two Relationship officer (The people who open accounts), Three customer service representatives (Tellers), One Customer Relationship officer (The person at the door who distributes que numbers for the customer and guide them, to answer their questions) at a given time. No branch manager is required, to cut costs and be more efficent. You can also discuss the idea of a techno branch, which has no employees and are fully operational by machines in turn reducing the costs of hiring employees and it will be the first techno branch at the airport
– Discuss the concept of introducing a machine or device or a free standing station at the branch in which our customer can redeem their credit cards points. Currently they can only redeem their points by visiting our website online through their personal computers or devices. Our credit card holders can redeem their points for free airplane tickets or hotel reservations without paying.
– The new concepts may lead to word of mouth advertising for the bank and enhance its imagine significantly
– A new airport will be constructed in the soon future, therefore there is alot of potential.
– You may discuss the floor plan and structure of the branch (location of the tellers, the meeter greeter, operation managers office, the vault etc..)
– For your inforamtion, this is a list of banks available at the airport
– What will make us special between the remaining banks at the airport?
1) Our queuing system (We call it the Q-Matic) will give priority for those who have a boarding pass. You may discuss the idea of introducing a option within the Banks app where customers may choose to take virtual numbers while they are on their way to the branch, and they can see the number of people waiting in the que etc.
2) Offer competitive exchange rates since we are not only competing with banks we are also competing with other exchange companies at the airport
3) You can redeem credit card points at the branch with the new device or free standing stations I have discussed above.
You may conduct a SWOT analysis if required