PNC BANK - Essay Example

PNC BANK PNC Bank Social Strategy The urgency and efficiency aspects mainly vital in the delivery of servicesto a large clientele in the baking field prompted PNC Bank to adopt Web 2.0 application (Adams, 2012). The core purpose of this application was to offer client tailored services to diverse, fragmented customers in their diverse locations. Mainly, Web 2.0 application encompassed mobile banking that would enable clients access the bank’s services anywhere and at any time without having to visit the bank physically (Adams, 2012).

Hence, the bank shunning long queues and long hours of waiting that was evident their earlier besides reaching large pool of clientele in a short time. This social strategy aimed to align itself with other social sites like Facebook, Tweeter or Orkut where their clients especially the students who do not like waiting in banks are able to access their accounts easily coupled with attaining various loans. Was the strategy effective? Why? The strategy has proved to be successful where besides enabling the PNC Bank to attain large pool of clientele; is capable of maintaining it with provision of easy and effective services.

This is especially in offering loans to students who belonged to diverse levels of education. Through accessing the website, students are able to access and apply for loans according to their educational requirements besides other transactions that entail banking (Adams, 2012). Primarily, this is especially to students who normally undertake part-time jobs while still studying and intent to save their earnings for future ventures or buy books and educational tutorials. Consequently, owing to the effectiveness and easy delivery of services, PNC Bank’s social strategy was successful not only serving the students but also other clients beyond the age of 34 years.

Since the clients were now able to transfer their cash via “Sliding bar option” mainly, found in their website once one logins in to his or her account. Additionally, clients have preferred the bank’s idea since they only require to access the services via their mobile phones; owing to the PNC Bank’ non-discriminative application, which is accessible by almost all ordinary cell phones that are internet enabled (Adams, 2012). What would you do differently? Why? The PNC Bank’s social strategy has enabled it to attain large pool of clientele, though this may prompt numerous people take advantage of its services.

This is via taking loans especially by the students where some may end up not repaying especially when a student. Unfortunately, dies or vacate to other state. To shun these unpredictable incidences and especially regarding offering of loans, I would advocate dealing with the educational institutions or employment corporations when offering loans (Adams, 2012). The strategy will entail giving loans via the educational institutions and corporations instead of dealing with the clients directly.

Hence, this will be almost 99% assurance of attaining funds given out as loans, since corporations and educational institutions are more reliable than dealing with individuals. This is because the bank will not have to wait for long durations when the students and workers will be able to refund because refunding will be on timely and predictable interval basis that are manageable (Adams, 2012). This leaves small percentage of clients, who would wish to apply for loans, which the bank’s staff can adequately handle with heightened effective convenience.

References Adams, J. (2012). Banks Give Live Web Chat A Try, But Cost Is Prohibitive. American Banker, 177(F328), 10.