IT transforming NCB's customer and business relations
The National Commercial Bank (NCB) has embraced the use of technology to serve its clients faster and also to do more with less.
Emerging technologies have changed the banking industry from paper- and branch-based banks to digitised and networked banking services.
Technology makes the transfer of data easy and has changed the accounting and management system of all banks. Information technology is now changing the way how banks are delivering services to their customers.
Although this technology comes at a cost, the rewards are limitless. According to Nadeen Matthews, NCB's chief digital and marketing officer, the rapid technological transformation at the company has played a significant role in improving services in the industry.
"We are meeting our customers where they already are. The statistics regarding digital technology and social media are growing by leaps and bounds and companies that are not responding to these trends are likely to become extinct. We are responding to these digital trends and are getting ahead," Matthews said.
Matthews stated that electronic banking is giving a competitive advantage to NCB. Online banking, mobile banking and Internet banking are just a few examples of how the company's digital technology is evolving.
"Customers are busy and do not have the time to go into the branch to wait in line. No one has the time or the desire to do this anymore. They want on-the-go solutions. Take taxi drivers, for example. They are the heaviest users of our 'Bank on the Go' system. They do not have to go into the branch during the day while they are on the job, to do their transactions," Matthews noted.
NCB, she said, is convinced that investing in information technology is critical, because its potential for the banking industry's future is enormous.
"It is simplicity that we are trying to meet. We are trying to move away from the archaic methods of banking and make our solutions faster, simpler and stronger, and digitisation is the key component," Matthews said.
According to her, with the company's online and digital solutions, customers take less than 10 minutes to complete a transaction. With more than 97 per cent of NCB customers expressing satisfaction with the company's online solutions, Matthews is encouraging other customers to make use of the digital options that are available to them.
"It is not that we do not want customers to come into the branch, however, for simple transactions, we do not want them to take hours out of their day to do them. Everything we do is customer-led with information technology. It is a strategic initiative, developing the right solutions to save time and money for our customers," Matthews explained.
Matthews, who is also chief executive officer of the NCB Foundation, indicated that the changes that new technologies have brought to NCB are enormous in their impact on officers, employees, and customers of the bank. She stated that advances in technology are allowing for delivery of banking products and services more conveniently and effectively than ever before, thus creating new bases of competition.
"The role for the leading digital financial institution is wide open in the English- and Spanish-speaking Caribbean, and we intend to take the lead. We were the first to market with drive-through ABMs, Bank on the Go, Loan at ABM, and online opening of accounts. We are confident that we will become that player," Matthews said.
Matthews, who joined NCB in 2010 as the head of strategy, has worked with the leadership of the organisation to establish cohesive, coherent and effective strategic plans for the NCB Group, including its subsidiaries. These strategies have helped to propel NCB to the leading position in Jamaica and a top-10 position in the English- and Spanish-speaking Caribbean.
"We are competitive in the marketplace. Our team has great skills and experience that has made our staff more attractive, locally and globally. We look at digital technology as an enabler and we are happy to be pioneers in the market. There really is no stopping us," Matthews said.