Third party products of banking sector - mutual funds.. CiteSales
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third party products of banking sector

ashutosh Started The Discussion:

hi........... friends i am an MBA working with a nationalised bank i wantn to about the problem regarding the third party products like the mutual funds, and the LIC policies given by the bank

leolingham2000 - Contributing Member
IN BANKS OR ANY SIMILAR INSTITUTIONS,

THE THIRD PARTY PRODUCTS OFTEN FACES THE FOLLOWING

-TELLERS HAVE NO INTEREST

-TELLERS HAVE NO LOYALTY

-FRONTLINE MANAGERS DON'T FEEL ACCOUNTABLE TO THE RESULTS.
[ THE QUESTION IS -- WHAT IS THERE IN FOR ME ???? ]

-MARKETING DEPARTMENT IN THE BANKS HAVE NO OBLIGATIONS
TO PUSH THE PRODUCTS AT THE COUNTER ???

ETC ETC

THERE ARE LOTS OF NEGATIVES FLOATING IN THE OPERATION.
================================================== ======

THIS CAN BE OVERCOME BY THE FOLLOWING APPROACH

-the third party must workout a joint promotion with the bank's marketing department
and share the cost.

-the third party must train the bank tellers in product knowledge of their products.

-the third party must offer the ''CBT'' TRAINING FOR THE BANK STAFF.

-THERE MUST BE REFRESHER COURSES.

-there must be a incentive system --payable on quarterly on sales turnover
of these products .

-there must a joint review of the performance/ action plan.


regards

LEO LINGHAM

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