Western Union Outward Remittance Essay

Public Bank Berhad founded by Tan Sri Dato Sri Dr. Teh Hong Piow in twelvemonth 1966. The name of Public Bank conceptualized as a bank for the populace. Today, the Public Bank Berhad is a taking banking industry in Malaysia with abroad market in Cambodia, Vietnam, Laos, Hong Kong, China and Sri Lanka. As the terminal of twelvemonth 2012, Public Bank is the 3rd largest banking industry in Malaysia and ranked at top six by plus size with entire RM274.62 billion in Southeast Asia. Besides, Public Bank is besides is the largest non-government-linked company in Malaysia. Vision of Public Bank is to be the Top 100 Bank in the universe and the mission is to prolong the place of being the most efficient, profitable, and respected premier fiscal establishment in Malaysia.

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1.0.2 Company Philosophy

The Public Bank Berhad ‘s doctrine is care their clients by supplying the well-bred and efficient service in every activity of its concern and being advanced in their new banking merchandises and service development. Public Bank Berhad attention for its employees by advancing their staff through wage and utmost benefit and supplying staff preparation and development and chances for calling promotion. For caring its stockholders, Public Bank Berhad consolidates its place as a stable and efficient fiscal establishment and generates net incomes and returns back a just return on stockholders ‘ investing.

1.0.3 Company Principal Activities

Public Bank Berhad provides a broad scope of fiscal merchandises and services to their clients. It included personal banking, commercial banking, Islamic banking, investing banking, portion broking, bancassurace, legal guardian services, nominee services and general insurance merchandises.

Personal banking is banking, investing and other fiscal services which execute straight to clients. These services include recognition and debit card, sedimentations, loans, cyberspace banking and others. Commercial banking provided by Public Bank Berhad to clients is to assist finance client ‘s concerns in every possible country. These services include concern funding, hard currency direction, commercial cards, and others service like banker ‘s check.

Islamic Banking is offering Islamic banking merchandises and services to clients. It focuses on client and retail funding, little and average endeavor every bit good as funding and sedimentation pickings concern.

Investing banking of Public Bank Berhad provides a figure of types of investing to client and to assist them pull off their fundss.

1.0.4 Strategy to Competence among Rivals

In banking and fiscal services industry, every company has to develop their scheme or important competitory advantage to vie with their rivals. Public Bank Berhad adopts a scheme which is focal point and consistent growing. The company pursues organic growing in retail banking concern concentrating on retail clients and little and average size endeavor, and increases its leading in today ‘s banking industry. Growth in the retail banking concern is ever focal points on retail loaning, deposit-taking and fee-based concerns. In order to drive it concern growing and increase its market portion, Public Bank Berhad control its client service substructure and procedures and patterns to present the dependable service to run into the clients ‘ demands.

2.0 Company ‘s Production/ Operations Processes & A ; Facility Layout

2.0.1 Production/Operation Procedure

There are two types of service offered by Public Bank Berhad which are debit and recognition. The procedures under debit are salvaging history and Unit Trust. While for recognition, the procedures include hire purchase, loans and others.

The diagrams below are the production processes flow of Public Bank Berhad. Open a salvaging history.

Open salvaging account.jpg

When a client wants to open a basic salvaging history in Public Bank, the stairss involved in the diagram is needed. First, client has to take a figure and delay for his bend to be called to the service counter for opening a salvaging history. Client is required to make full in the information in the demand signifiers or paperss. Following, client has to demo the Identity Card and give the photocopy of the Identity Card to the staff. Then, client is required to pay minimal RM20.00 as initial salvaging to open and trip an history. After the history is verified and approved, a salvaging bankbook will be given to the client and he/she could get down utilizing it anytime. Strengths and failings

There are several strengths of opening salvaging history procedure in Public Bank Berhad. The procedure can acquire to be done in a short and efficient clip since there are merely really few stairss involved in opening salvaging history. It is non time-consuming and convenient to use for salvaging history. Temporarily, there is no any failings have been found in this production procedure as it the current flow is really utile and helpful for the bank. Unit Trust Fundss.

A unit trust is a fiscal vehicle which persons may put their money. Investing in unit trust offers investors several of advantages which are professional direction at low cost, safety through the spreading of hazards, liquidness, easiness of dealing, and capital grasp. Public Bank Berhad has a scope of unit trust financess which are managed by Public Mutual Berhad, presently the largest private unit trust company in Malaya with more than 20 old ages experience in fund direction. The diagram below shows the procedures how to get down puting a unit trust of Public Bank.

Unit Trust INVESTMENT.jpg

First of all, client is required to finish a new investor signifier before starts to put unit trust. Customer has to demo the original Identity Card to the staff, and a photocopy of Identity Card is needed to be submitted together with the signifier every bit good. After that, a check or hard currency with minimal RM1000.00 is needed to be enclosed by the client as an initial investing to get down puting unit trust. Checks must be made collectible to Public Mutual Berhad. The service agent will assist to subject the application signifier and initial investing to Head Office. Lastly, one time client has completed the application signifier submit together with the check made out to Public Mutual Berhad, client is considered to be the unitholder of the selected fund which is unit trust, besides known as common fund. Customer may add on to his/her bing investings on a regular footing. RM100.00 is the minimal extra investing for most of the unit trust. Customer could do the investing at any Head Office, subdivision offices or at Public Bank and Public Finance subdivisions or at any aggregation Centre throughout Malaysia. Strengths and failings

Public Mutual is a wholly-owned subordinate of Public Bank, its fiscal strengths and good trailing record is well-known in the investing industry as it subscribes readily to the Group ‘s excellence-oriented corporate civilization and high criterions of fiscal unity in the direction of its unit trust financess. While the chief failing of investing procedure is the related paperss are needed to be passed through non merely one party, it may do the missing of of import paperss and besides the money. Western Union Outward Remittance.

Public Bank and Western Union Company is the planetary leader in international money transportation services. Customers of Public Bank can direct money and receive money in hard currency through Western Union to more than 355000 service supplier locations in over 200 states and districts merely within 2 proceedingss and this is what they called “ Cash In Minutes ”.

Western Union Outward Remittance.jpg

The diagram above shows the operation procedure of remittal of Public Bank ‘s clients through Western Union.

First, remitter, the client who wants to make money transportation, has to travel to the nearest subdivision of Public Bank and finish the remitting faux pas. Following, subject the completed signifier, money and relevant paperss such as the sum of money that remitter want to direct, and besides the necessary transportation fees, together with remitter original Identity Card. The maximal sum that can be sent and receive is RM10000 and RM50000 per dealing severally and there is no bank history is required to direct or have money under this service. Remitter is required to subscribe a reception with managing watchword which helps to track the position of the money transportation online and it will be given to him/her. Then, remitter has to inform the payee, the individual who will have the sum of money, of the handling watchword. Once the stairss are finished and the payee ‘s info is verified, the dealing is completed. Strengths and failings

Transfer money within proceedingss is the strongest strength of Western Union Remittance. It is really convenient for those business communities or clients who need the sum of hard currency desperately as the procedure of remittal takes merely few proceedingss and they can acquire the money in clip and expeditiously. However, there are besides some jobs might be faced during this procedure. The reception with managing watchword may be lost easy since it is really hard to maintain it. Besides, the mistakes might be occurred while the remitter is informing the payee about the watchword because of typing errors or wrongly direct the message through unwritten manner. Home Loan.

Public Bank offers the place loan at easy installment payment system by giving the loan searchers with easiness of paying. There are 2 types of place loan programs with assortment of fiscal bundles of 5 Home Plan which the clients can take harmonizing to their comfortss. The fiscal bundles are Equal Monthly Installment Package, Fixed Monthly Installments Package, Graduated Payments Package, and HomeSave Package. The procedures involved in using for place loan are as shown in the diagram below.

Home Loan.jpg

The first measure involved in using for place loan is client is required to make full in the application signifier. After successfully make fulling the application signifier, the relevant and needed paperss have to be submitted to the bank together with the application signifier. The bank will set up the refund capacity based on the information of applier such as income, age, experience and so on, so if the applier is qualified, the countenance and offer missive will be given. After that, all the legal paperss of the belongings involved for using place loan have to be submitted. The bank will make the legal cheques on the belongings. The concluding measure is that the applier will be asked to subscribe the concluding understanding of the place loan and he/she will acquire the loan. Strengths and failings

One of the strengths of place loan procedure is the bank will analyze the information and makings of applier in order to forestall any errors will go on. After the paperss are checked lawfully and carefully, the loan will merely be approved. This is a really cautious procedure and besides considered as strength of place loan procedure. However, the procedure of using for place loan usually takes 5 to 7 yearss to acquire the full blessing, and clients will acquire the loan 4 hebdomads from the blessing is given. This takes a batch of clip and many procedures are needed to be gone through. Furthermore, the of import and relevant paperss have to be passed through many custodies and it will do the loss of paperss as good. Recommendations of Production Procedures

In order to keep the strengths and better the failings for the 4 types of procedure, here are some suggestions for Public Bank which may be helpful to upgrade the flows. In order to forestall the loss of of import paperss or money of clients while managing and look intoing by the staff, the bank should perchance do the stairss become easier so that the staff will non acquire baffled and can be more concentrating on managing the paperss during the procedure. Sing to the loss of reception with managing watchword, banker should supply another transcript of reception for the payee via electronic mail or nomadic phone. This can assist to cut down the wrong information happen and the work can be done efficaciously. Hence, the company will be able to derive good repute and image. Decision

Every production must hold been gone through many procedures to bring forth merchandises or to do the occupations work out. The ground that the production procedure is of import to the company is because the plants must be done methodically. Every measure has to be made clearly and carefully during the procedure so that if mistakes happened, it is easier and more convenient for the staff or directors to happen out where and how the jobs occurred. Besides, it is time-saving and occupations can be work out efficaciously through different procedures. Therefore, the client will remain loyal to the company because of their decent, satisfied and effectual production processes. This will assist the company addition more and more clients in the hereafter.

2.0.2 Facility Layout Diagram of installation layout





Bank Teller

Bank Counter

Standard atmosphere

Customer Service Representative


Standard atmosphere

Figure 2.1: Facility layout of Public Bank Berhad in Kampar Branch. Description of the Facility Layout

Layout is one of the of import factors that lead to the long-term efficiency of operations in Public Bank Berhad. A layout that is improperly designed will take to operations inefficiency among employees and clients. Hence, a good layout will take to efficiency in operation direction. The aim of layout scheme is to carry through the organisation ‘s competitory demands in a cost-efficient and cost-effective mode.

Harmonizing to the layout Figure 1, bank Teller is located at the right manus side of the bank office. The bank Teller is the first individual clients ever seek to as they enter bank. The bank Teller trades with the client straight in order to guarantee the clients that they entered the “ right ” bank and to guarantee that they had their best visit possible. The bank Teller besides maps to steer the clients to the several counters consequently. However, there is a restriction for this Teller. The Teller is located far from the entryway compared to the service counter. Since Teller should be the first individual client brushs as they enter Bankss, therefore the arrangement of the Teller is improper.

The service counter is located at the left corner once a client stairss in. This layout so shows that Public Bank Berhad accent on services provided to clients as it is the first counter that clients encounter as they step in the bank. This is a strength of the layout because client service counters are able provide information and work out the questions of clients. The service counter besides helps the clients in managing their jobs. The service counter will so mention the clients to allow counters for farther aid if they are unable to help the clients. The service counters maps to supply information sing the service clients requires and questions.

The bank counter located at the back portion of the bank maps to pull off fiscal issues such as money backdown, money sedimentation, check, account salvaging questions and investing issues. The employee behind the desk maps to manage the personal fiscal questions of clients. This includes assisting clients to publish checks, input money into fixed sedimentation and many other investings, money exchange into other currencies, and money exchange into smaller sums. They besides function to update the bankbook information, trading transportations, and sell bank bill of exchange. The failing of this bank counter is that there are deficient Numberss of counters available.

Office in which the directors and clerks work is situated behind the bank counter. The planning of the office in this layout is strategic. Confidential corporate paperss and database are situated in this office. The employees of this office maps to function “ high-class ” clients which consists of many corporates and to help the bank counter if there are jobs to happen. They besides functions to register and measure the paperss of the bank counter. However, farther information sing the occupation range of this office is ill-defined as the director is unwilling to supply more information as they are confidential.

The layout of the 2nd floor consists of three offices, a conference room and a bank counter. This bank counter handles issues of higher purchase, loan and mortgage. This bank counter manage loans such as lodging loans, auto loans, concern loans, belongings loans, instruction loans, and personal loans. However, the restriction of this is that the deficiency of information sing this counter.

One of the offices in the 2nd floor is used for loan section. Loan section maps to look into the background of the clients bespeaking for loans, mortgage and higher purchase. The loan section maps to guarantee that the clients bespeaking for loans are believable and able to return the loans. Information such as procedure and inside informations of the loan section are confidential and are non available for this assignment.

3.0 Study Area ‘s Literature Review and Contribution

3.0.1 Nature of service

Service is intangible, inseparable, variable and perishable ( Gronroos 1978 as cited in Sharaf M.A.2010 ). In many instances, the clients are portion of the service procedure. Service is different depending on who provides the services to whom and when and where the bringing of the service takes topographic point. Service can non be stored or stock lists and are perishable.

3.0.2 Service Development

Ojasalo work ( as cited in Sharaf M.A.2010 ) showed that the focal point of current service development is alining concern ends with service design. Business leaders need to place concern ends such as increasing productiveness and film editing costs and associate them to serve design to stay competitory. Service design involves understanding service procedure and bringing channels that meet clients ‘ demands and demands ( Ojasalo, 2009 ).

Schmenner work ( as cited in Sharaf M.A.2010 ) develops a theoretical account to sort services based on the two dimensions. First, it is the dimension of categorization. Schemenner ( 2004 ) classified the service landscape into four quarter-circles based on comparative throughput clip and grade of fluctuation. The comparative throughput clip is how rapidly a service brush can be rendered comparative to others in the industry ( service productiveness ). The grade of fluctuation is how much customization is necessary for the service proviso ( service interaction ).

A high relation throughput times requires intense labour per dealing to supply a high grade of fluctuation such as professional service ( jurisprudence houses and comptrollers ) or a low grade of fluctuation such as mass services ( retail banking and wholesaling ). Harmonizing to Schmenner, a low comparative throughput clip necessitate less labour per dealing to supply a high grade of fluctuation such as a service store ( infirmaries and fix stores ) or a low grade of fluctuation such as a service mill ( air hose and hotels ).

The banking industry is the mass service that requires a high comparative throughput clip and a low grade of fluctuation. Harmonizing to Schmenner ( 2004 ), mass services require a low grade of fluctuation in the service bringing. Bank leaders might supply low service customization for each client. In contrast, service suppliers are required to pay attending to employee capacity to service and manage client demands.

Second, it is the dimension of optimisation. Schmenner ( 2004 ) provided that the service suppliers strive to increase service productiveness by minimising the comparative throughput clip ( labor ) and grade of fluctuation ( customization ) to make the service mill degree of operations. For the banking services, the throughput clip is high, organisational leaders might concentrate on cut downing constrictions and taking service procedure wastes, such as numeration and telling hard currency during the sedimentations and backdowns or verifying client individuality.

Leaderships must take into consideration the grade of fluctuation, such as bear downing different clients different rates based on service types, and provide an even flow of the service bringing procedure. It provides the optimum service operations ( high productiveness ) and service interaction ( high customization ) that organisational leaders might seek to make to heighten overall services ( Schmenner, 2004 ).

3.0.3 The function of engineering

To accomplish higher productiveness and customization of service bringing, bank leaders were historically required to open subdivisions with many trained service desk employees to manage customer-specific services. All service brushs traditionally took topographic point in the presence of an employees and a client ( Bitner, Booms & A ; Teteault 1990 as cited in Sharaf M.A.2010 ).

With the addition of labour costs and inventions in engineering, more service suppliers shifted to self-service engineerings ( Dabholkar 1996 as cited in Sharaf M.A.2010 ). The usage of engineering allowed service suppliers to utilize engineering to get the better of operational disbursals and address customer-specific demands. Eyadat and Kozal 2005 ( as cited in Sharaf M.A.2010 ) found that the usage of engineering correlated positively with profitableness in the banking sector.

Technology -based services are technological interfaces that enable end-users to take advantage of a service without any direct employee intercession ( Mueter et al., 2000 as cited in Sharaf M.A.2010 ). A service brush is an interaction between a clients and a machine such as ATM, Internet site, or synergistic voice response system, and service suppliers focus on systems instead than employees and system functionality instead that employee ‘s interactions.

The usage of engineering provides concern leaders with three chief benefits ( Pasasuraman 2000 as cited in Sharaf M.A.2010 ). First, leaders can pass on more expeditiously, develop new merchandise and services, and analyse client behaviors with the support of calculating engineerings. Second, concern directors can interact with employees via an cyberspace and a knowledge-based database despite geographic locations or clip barriers. Third, the usage of engineering allows an employee to interact with a client via technological interfaces such as ATMs and e-services.

3.0.4 Invention in Financial Service

Alam work ( as cited in Schirr, Gary R., 2008 ) identified six nonsubjective for user engagement in new service development: ( 1 ) a better new service that matches clients demands ; ( 2 ) reduced development clip ; ( 3 ) facilitate user instruction about new services ; ( 4 ) rapid diffusion of inventions ; ( 5 ) good public dealingss ; ( 6 ) assists a long-run relationship with clients. Collaboration strengthens client dealingss by developing customer-friendly merchandises ( Lilien et al., 2002 as cited in Schirr, Gary R., 2008 ).

There have been multiple surveies of success factors in bank new service development. New service development is mostly informal in its early stages ( Kelly and Storey 2000 as cited in Schirr, Gary R., 2008 ). Customer support staff should [ put a important function in fiscal services invention ( de Brentani 1993 as cited in Schirr, Gary R., 2008 ).

Market research is frequently a missing ingredient in new service development at fiscal service houses ( Cooper et al., 1994 as cited in Schirr, Gary R., 2008 ). In a follow-up article to “ Evolving a New Dominant Logic for Marketing ”, ( Virgo and Lusch 2004 ), they argue that big established service houses could be misled by traditional goods-dominant selling logic. Such service houses, such as Bankss, infirmaries and universities, are likely to be guided by good dominant logic and are merely every bit likely to lose the client ‘s functions in value creative activity as are their goods-producing opposite numbers ( Vargo and Lusch, 2006 ).

3.0.5 NSD for Internet Service

The cardinal function of a client as co-producer of a service ( Grove and Fisk 1983 as cited in Schirr, Gary R., 2008 ) affects the success of the service event and can take to a stronger producer-customer relationship ( Rodie and Kleine 2000 as cited in Schirr, Gary R., 2008 ). A survey of engineering extract in service brushs indicated that alteration can be positive if manufacturers “ closely involve clients in the design procedure ” ( Bitner et al., 2000 ).

Growth of the cyberspace has accelerated self service development and helped houses better employee communicating, hammer strategic confederations and beef up relationship with clients ( Parasuraman et al., 2002 ).

3.0.6 Impact of Office Design on Employees ‘ Productiveness

Many writers have noticed that the layout of the workplace along the direction procedure is a major function in bettering employees ‘ productiveness and organisational public presentation. ( Uzee, 1999 ; Leaman and Bordass, 1993 ; Williams et Al. 1985 ). Better physical environment of office will hike the employees and finally better their productiveness. The American Society of Interior Designers ( ASID, 1999 ) had revealed that the workplace design is one of the top three factors which will impact employees ‘ public presentation and occupation satisfaction.

3.0.7 New Service Development Process

New service development procedure can be defined as procedure theoretical accounts. The development stages have to be accomplished from the initial thought until the concluding launch of the service ( Bullinger and Schreiner, 2006 ).

In the service development procedure, the first stage is generates new service thoughts. Those thoughts are analyzed in footings of costs and clip needed and besides the chance of hazard. After the rating, take the low cost and clip required and low hazard thought as the promising thought to execute it. ( Song et al., 2009 ). Thereafter, design the specification of the new service. For illustration, resources required to treat, the service bringing procedure, market steps of the service and outlook of the public presentation every bit good. The necessary resources are needed to apportion in the undertaking in order to execute the trial of the service specifications. ( Bullinger and Schreiner, 2006 ). If there is any possible failings go on, the trial has to re-perform until the specifications have passed the trial. At the terminal, the successful specification is eventually can present to the market place as a new service.

3.0.8 New Development Success Factor

In service industry, supplying a better or alone merchandise or service can be achieved in assorted ways such as doing it adaptable and updatable to specific and altering client demands, utilizing advanced engineering ( Cooper et al., 1994 ), supplying superior quality ( Easingwood and Storey, 1993 ), or offering superior nucleus properties and back uping services ( Melton and Hartline, 2010 ).

Successful services are suit to their designated markets ( De Brentani, 1991, De Brentani, 1989 ) and clients ( Cooper and de Brentani, 1991, De Brentani, 2001 ) and besides are compatible with the others merchandise in organisations, selling scheme ( Easingwood and Storey, 1993 ), resources ( De Brentani, 1989 ) and capablenesss ( Ottenbacher and Harrington, 2010 ).

Harmonizing to Neu and Brown ( 2005 ), the expertness of employees has been identified as one of the of import factor which will impact the NSD public presentation. In order to derive clients trust, service forces should demo their strong behavioural competences. Employees are able to do a difference whenever they are in direct contact with the client by exudating motive ( Neu and Brown, 2005 ), friendliness, courtesy, and efficiency ( Cooper et al., 1994 ). Furthermore, the ability to understand the client ‘s jobs and demands is indispensable to carry through their outlooks of the service offering.

3.0.9 Service Features

Service consists of three features. It includes inseparability which is the production and ingestion happen at the same clip, heterogeneousness which refer as the demand for human attempt and interaction, and perishableness which explained as the service can non bring forth at progress and to be kept for the hereafter usage. ( Locklock, 1983 ; A Zeithaml et al., 1985 ). Service features can specify what and how of an invention attempt, and assist place the cardinal factors of NSD. It is necessary to understand by a service house in assisting them recognize how service features may be used to develop strategic attempts in invention.

3.0.10 Five Dimensions of New service development competency

There five dimensions which will reflect a house ‘s competency in NSD are NSD procedure focal point, market sharp-sightedness, NSD scheme, NSD civilization, and information engineering ( IT ) experience.

The first dimension, new service development procedure focal point indicate as a set of activities or undertakings for carry out new service development attempts which allows to taking greater new service development efficiency and effectivity.

Following, 2nd dimension is market sharp-sightedness. It explained as the ability of the organisation to understand good their competitory environment and overcome and response to what their clients ‘ demands and wants. ( Roth, 1993: 22 ).

The 3rd dimension, new service development scheme enables the organisation ‘s direction to program and build the suited resources for the new service development attempts. The house ‘s new service development scheme besides must be related to the organisation ‘s overall concern scheme. A ( Cooper and Edgett, 1999, A Griffin, 1997A andA Sunbo, 1997 ).

The 4th dimension, new service development civilization is the organisation ‘s values and beliefs in a willingness and desire to introduce and the last dimension is information engineering experience. Information engineering ( IT ) is making and prolonging the organisation competitory advantage. A ( Price, 1998A andA Ross et al., 1998 ).A Fiedler et Al. ( 1996 ) A. Information engineering promotion is besides able to heighten the information processing and co-ordinate activities in operating environments.

4.0 Discussion and Conclusion

By developing new service development, bank leaders can derive an economic system of graduated table by increasing fixed cost in the engineering substructure to minimise variable cost in dealing. Besides, the bank can heighten its competitory place by efficaciously utilizing the new service development in engineering. Bank leaders can roll up client information for effectual usage by direction and besides gain market portions and knowledge in front of the competition.

Furthermore, clients might benefits from new service development in engineering because of control, velocity, convenience, easiness of usage, and enjoyment. They control over banking demands in term of when, where and how to bring forth the service. Customers might be attracted to the service that saves their clip, money and attempt. Besides, clients might salvage bank trips and waiting clip in Teller waiting lines.


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