NAB Connect And Online Business Banking Information Technology Essay

This case study is about NAB Connect which is a service given by National Australia Bank to the business owners. It is like a retail banking process which gives sub services to the owners that can be used anytime anywhere. In this case study I have placed many changes and their benefits which were occurred in 2 years in my presence. The case study covers the topics of leadership and change management. We were distributed in 2 teams one was in Jaipur Genpact and another was in Melbourne (Australia) who could directly contact to the respective organization’s bankers.

Changes were implemented in the process and our lean ideas upgraded our process. Our customers and team leaders were very happy with our work. The applications which were used to be processed manually now only because of OA we can now process even the complex application accurately. Without the support of my team members this will not be at all possible as team work is required to achieve a particular goal. Now the current situation of our process is that the team members can work on any application and my team members are now very participative in the process.

Leadership

Definition

Leadership is the “process of social esteem in which one person can influences others to attain an objective and directs the organization with a group of people to achieve a common goal through change.

Leader: An individual who has granted authority, usually based on hierarchal position, in an organization.

Leaders carry out this process by applying their leadership knowledge and skills make it more cohesive and coherent. Leadership is ultimately about creating a way for people to contribute to making something extraordinary happen.

My process (NAB Connect) leader was my manager. Earlier was Anurag Singh and now he is replaced with Rahul Swami as Anurag was promoted to senior manager in another process in NAB.

In my Team there were 16 members. Each one had individual skills and talents. My Manager Anurag Singh who leaded us for 1 year 10 months was a fan ominous and flexible leader. He used to take a daily huddle for 20-30 minutes. And in this huddle he used to encourage each one of us. He also delivered new ideas and knowledge to how to handle a team or a group of people and work. He used to tell us his experiences as he had an experience of 7-8 years in NAB.

My Australian leaders were Lidia Pipiekez, Sandra Pekez and team. Sandra and Lidia also visited to Genpact Jaipur site once when our pilot batch was started to teach us about our process. They have conducted a formal training to make us learn about the process NAB Connect.

It was great experience with NAB Connect team in Genpact.

I can relate this assignment to the leadership theory of Situational and Participative as our leaders chose the best course of action based upon the situational variables and our team members had taken the input of others into account. The leaders encouraged participation and contributions from group members.

Change Management

Definition

Change management is a structured advent to developing individuals, teams, and organizations from a current status to a desired future status. It is aimed at empowering the employees to secure and changes of the grip in their current business environment within the organizational process. In Change management, project changes are formally introduced and approved.

Every individual has a right to speak and dine their views for the company’s profits and up gradation during a change.

Organizational Change: Examples

Strategic changes- mean changing in the content of firm’s strategy as explained by competitive advantages, scope and synergies.

Structural changes- when the company changes its functions or operations to achieve a common goal.

Technological changes- as the name indicates the change in the technology or invention of a technology, the continuous process of improving a technology in an organization.

Changing attitudes and behaviors of personnel- changes in the behavior of the employees or an employee start taking interest in achieving the goals of an organization.

According to this case below changes can be related to the theory of organizational change i.e. behaviors of personnel and changing the attitudes as most of my team members including me had given ideas to make process easy and less time consuming. We helped each other in complex applications. Solved the problems of the customers and we were also awarded the recognitions.

NAB Connect (Case Study)

NAB Connect helps you streamline your business banking online, in spite of the size of the business or how you currently handle your banking process.

NAB Connect Actions

Moving from National Online

Current company uses national online to manage their own business banking however the company’s owners travel frequently, evenly overseas, in order to monitor their finances faster while on the road they are appearing to upgrade to an internet banking platform. But they have issues about the internet security and how the time consuming it will be for the owners in transferring the data to NAB Connect.

NAB Connect’s raised features can give owners repose knowing that their financial information is protected, by the use of their security tokens, the owners and authorized staff can access the platform and authorize payments, even while travelling.

Moving from NAB’s Internet Banking

NAB Internet Banking has been used by the families to handle their own personal and business finances for years. Example Hard Earth Removals Pty Ltd is small, but fast-expanding family business.

With NAB Connect, Hard Earth Removals would have greater control over their business banking.  The family could assign account viewing rights and service access for every user, and for better management they also can apply for daily payment limits to their cash flows. 

Moving from Branch and Telephone Banking

Christopher used as a lawyer to run his business in a traditional way. All of his accounts in log books are still filed and his banking is done within a branch or over the phone

With NAB Connect, Christopher can save time and administration costs. Instead of arranging through endless paperwork, he can simply log on to NAB Connect service. There he can view his transaction history and easily settle cheques, he has written and deposits by viewing images of his accounts. 

WHAT and WHY CHANGES implemented

I worked with NAB Connect in Genpact for 2 years. It was started on 21st July 2008. It was like a retail banking process. We had 2 teams one was our team which work in Jaipur Genpact and another was in Australia in National Australia Bank who were our clients. I used to check the form of the business owners which was filled by them to make the transaction through NAB Connect. The queries or incomplete information filled by the business owners’ bankers were sent to Australian team and then they contact to the bankers of respective organizations to update the incomplete or incorrect information in the form.

The following are the changes and reasons occurred while I was working:

December 2008

Data File Download service

Gives you the capability to download the below files:

Account Information File (BAI2 format)

Locked Box Reports

BPAY Reports

Direct Entry Return Reports

July 2009

Earlier authorizing users were not allowed to authorize payments not more than 10 but now the authorizing users can save a cogent amount of time by authorizing up to 20 payments simultaneously using their own security token. 

Account preferred names can now be modified by Security Officers.

October 2009

My team members given many lean ideas for the change in process or to make process easier. Following are the lean ideas:

The site ID of the customer to be written in the tracker so that during the preparation of the day end report it will be pulled out in the excel sheet and can be filtered to the respective organization.

Earlier the applications of the customers were onboarded by our team manually which used to take much time as the applications were used to be long as well. However now because of the lean idea given by one of my team members, the applications are now can be run on a tool called Onboarding Accelerator (OA) which onboard the client automatically with accuracy.

These changes can be related to the attitudes and behavioral change in the process as the team members were taking interest in improving the process and also helping other members in the team. It can also be related to the technological theory of change management.

By giving three lean ideas my team members were awarded Lean Recognition Certificate and they were offered Lean Six Sigma training as well.

March 2010

Now all the tools on which we used to work with different passwords on nab site were difficult to remember upgraded to different site in which all the tools are now accessed without password however the initial password is still required due to data privacy.

This can be related to the structural change as earlier the structure of opening a website on which we used to work was typical to remember the passwords of every tool and now the website structure was totally changed that now we no need to remember many passwords.

May 2010

The default access services which are given to Security Officers were not updated on OA so they were used to be added manually to the users profile however now these services are updated on OA and they are automatically added to the respective Security Officers in the organization.

The long forms are now upgraded to Delegated Authority Form (DAF) which contains a company name and the account number on the form. With the account number customer number of the organization is identified and sends back to Australian team. Then the Australian team asks the customer to fill in all the details which is then onboarded via OA.

This change can be related to the technological change as by the use of updated OA the applications were taking less time in onboarding.

July 2010

Earlier we used to send the application back to Australian team for Signature verification of the customer, warning indicator “T” or “Z” on an account as the

account can’t be added with these indicators to the profile and then Australian clients contact with respective organization banker for the resolution which was time consuming. However now we send the queries direct to the banker with a readymade template which reduced time and cycle. This lean idea was submitted by me.

Customers can now be able to create periodic payments. Periodic payments endorse you to manage payments to be made on a monthly, fortnightly, weekly or quarterly basis for all payment types, excluding International Transfers or payments.

The above changes can relate to the strategic change as the strategy of sending the application to the Melbourne and then to respective bankers was very time consuming, by these changes the turnaround time was reduced and simultaneously the strategy process also changed.

Conclusion

It was my great experience while working with NAB Connect in Genpact. We have reduced the business dependence and also increased job opportunities as nab Connect applications were gradually increasing. With all these above changes made our work very easy and convenient. Now we enjoy onboarding the complex application via OA. We increased from 16 to 20 in numbers.

Because of OA we are now able to onboard the client easily and accurately. Our customers were very happy with the accuracy of our work. The Australian customers should use NAB Connect as a tool for their business as the owners can access to NAB Connect anywhere, anytime.

We increased from 1000 to 35000 customers in 2 years and planning to increase the customers to 60000 by next year. The thing we need to focus on is accuracy although we are provided the best training. The team needs to be also focused upon turnaround time and SLA of the applications and amendments. As I mentioned above that we are now sending the queries direct to the bankers by this we can reduce the time and multiple follow ups of may be deducted.