proposal

Name: ___________________________________________

Proposal Planning Sheet:

1. What is the subject of the proposal? Be specific. What is the problem or project?

Impacts of electronic banking on customer satisfaction. With the rise of technology and the usage of the internet, backing up with the post-pandemic new normal routines, there is a lot that has changed in terms of banking, the subjects elaborates more from the customer experience perspective on online banking.

2. Who is your proposal for? What is his/her position? Is he/she the person with the authority to decide on the implementation of such a plan?

The proposal is set to address the Manager of the Federal bank, which is the main body tasked with regulations of other financial institutions. The manager is in a position to address the matter, by recommending it to be discussed by outweighing the odds with the organization’s shareholders which will then come up with a verdict, if need be, the court of law would be involved.

3. What is the purpose of the proposal? Will it solve a financial or social problem? Will it impact the inner workings of one company or change the way business is done? Think specifically about what you are trying to accomplish.

The proposal is very intense as it tries to speak out the minds of the customers in the era of technology, there has been a lot going on lately, financial institutions have to keep up with the pace, in order to stay in business and have an edge over their competitors, it is all about business strategies, little to no considerations have been made from the side of the customers. the project is set to alter the way financial institution functions if the needs of their customers are not fully met, as it should be the priority of the firm. Customer satisfaction is what should be focused on, here is where they are given a platform to speak out.

4. Write a succinct (2 or 3 sentences) statement that outlines the problem which the proposal will address or the idea it seeks to support. Why is this proposal needed now? Why does this problem need you to solve it?

As we live in a world where customer satisfaction is more crucial in businesses as customers have revised their priorities as they no longer rush for price negotiations, but for the quality of the service offered. With efforts to keep up to that, financial institutions have spent a lot in implementation of e-commerce banking in attempts to combat the poor customer satisfactory issue. On the contrary, the negative odds seemed to outweigh the positives. The main problem resides from trying to achieve the equilibrium between efficiency, speed, and security in internet banking. With security, they seem to lack a proper and functional roadmap that prevents the banks from attacks and inconveniences.

5. What is your proposed solution or plan? Explain how and why the proposed solution will work. Is it the only solution or one of many?

With most of the problems linked to efficiency, speed and security. To increase the efficiency banks, need to promote and work with mobile phone companies as through adoption of e-commerce banking, mobile phones are essentials gadgets. With speed the banks need to improve infrastructure in increasing the network coverage, and internet speeds upgraded, customers may be frustrated about slow services online when the issue is from their end. With security, a lot has to be considered, from developing and designing authentication systems that only allow the account holder to access their funds such as finger prints, they can also educate their customers on how to stay on the safe side while transacting and accessing bank services online.

6. What sort of procedures and methods will you use to address or contain the problem? Outline these procedures in detail.

With the efficiency of the internet, it is easy to put up a hashtag and watch it reach millions in minutes, the same strategy will be implemented in raising a petition on the level of satisfaction from online and internet banking, safety and convenience are also considered. As the subject is biased, more users are expected to support the notion. Linked to the federal bank, action should be taken in the users’ favor.

7. What are the costs involved? Offer a concrete budgetary plan and outline a timeline on how the money will be allocated and spent.

Thanks to the same internet, a lot of the operations would be done through the internet, however, there are a few boxes to check out such as consultation from a legal advisor specialized in financial institutions.

Consultation

They charge within the range of $ 100 to $ 400 per hour. By this I will have acquired all the legal steps to present the case, the laws defending and those against my subject, it will be a head start.

Research

I will have to gather information from at least five countries from each state, the easiest way to do so is by carrying out surveys and filling out questionnaires. Printing and distribution, including transport, would range at about $ 500.

In total, it would cost roughly $ 1000 to run the project.

8. Who will implement the solution or plan? What are the pertinent qualifications of the individual offering this solution or plan? Has he/she done this sort of work or solved this type of problem in the past? Does he/she have good references?

If the committee in the Federal bank easily come up with a decision that will satisfy our interest then that would be the end of it, in case of any complexities then the court of law would have to be involved, which explains why we seek consultation from a legal advisor.