Question

Identify one quality problem that a bank can be currently facing and discuss the procedures that can adopted

to solve it using appropriate quality tools

Answer 1

In the current scenario, in cities there are lot of banks which are opening day-by-day with several new names and all banks want that their depositors strength should be maximum and all banks are competitively working each day to maximize the number of the depositors but one major issue that is facing in the today's scenario is that every depositor wants that his hard earned money would not be in danger so everyone needs the tight securing on their deposits with the banks and this factor need to be focus by the bank to build the trust regarding the safe and secure deposits to their bank and i believe that trust building is one of the major problem that a bank can face or facing in today's scenario and if the bank does not build trust in the mind and heart of the depositor then it will be a negative sings of the bank to be shutdown in the near by future because banks are widely suffering due to failure in building trust within the depositors as well as in the employees of the bank.

The quality tools that the bank can follow are mentioned below:

1.They must show the guidelines of the central bank to the depositors that if any of the deposits deducts due to the any unfair transaction by anyone from online or by any other source through the checks or Debit/credit card, they will start scrutinize the fraudulent activities of the person who illegally did the crime of fraud of money through the bank accounts of depositors and now a days there are many cases that can be seen that the people loose their money though their credit cards and debit cards while they did not use but any other person hacks the accounts of the depositor form banks system so to eliminate this big concern the banks are engaged in upgrading their systems with tight security with may crosschecks that if a depositor puts an ATM to the machine he must know the ATM pin and if the ATM is entered incorrectly thrice a time then it's ATM will be blocked and to do internet banking a depositor is asked to fill the information regarding the pin generated at the time of registration and many other techniques that are developed by the banks in order to make their deposits safe and secure and to build the trust of the depositor with bank these techniques were implemented in the banks.