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Deposit Mobilization Techniques: Wegagen Bank S.C. Branch Operation Directorate

This document outlines techniques for banks to mobilize deposits, including: 1) Sensitizing employees on the importance of deposit mobilization and providing excellent customer service. 2) Establishing partnerships within the community and identifying target customer groups. 3) Providing door-to-door banking services to corporate customers and institutions. 4) Forging linkages with potential corporate customers and ensuring service excellence to exceed customer expectations.

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daniel nugusie
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3K views

Deposit Mobilization Techniques: Wegagen Bank S.C. Branch Operation Directorate

This document outlines techniques for banks to mobilize deposits, including: 1) Sensitizing employees on the importance of deposit mobilization and providing excellent customer service. 2) Establishing partnerships within the community and identifying target customer groups. 3) Providing door-to-door banking services to corporate customers and institutions. 4) Forging linkages with potential corporate customers and ensuring service excellence to exceed customer expectations.

Uploaded by

daniel nugusie
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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[ Deposit

Wegagen Bankmobilization Techniques ]


S.C.
[Type the abstract of the document here. The abstract is typically a short summary of the
contents of the document. Type the abstract of the document here. The abstract is typically a
short summary of the contents of the document.]
Branch
Operation
Directorate
I. Undertake Employees sensitization on Deposit Mobilization
activities
 full and fundamental awareness creation for branch staffs on the need for deposit
mobilization and attractive customer service
 Creating awareness among staff that low income groups should equally be targeted
as is the case with high income groups;
 Establish/revitalize branch task force for the intended purpose
 Effectively use periodic meetings (preferable on weekly basis) to share & evaluate
performance results;

II. Establish supportive partners and Identify target areas


 Branches should conduct regular customer sessions including influential persons and
community leaders to discuss and share information on the bank’s products/services
and related issues
 Establish strong relationships with microfinance, saving & credit cooperatives,
unions, and associations to collaboratively work to change the saving culture of rural
& urban communities;
 Establish strong relationship with community leaders, business men, religious leaders
and other influential and cause to play their part in promoting savings culture and the
benefit of using banking facilities;
 Establishing continuous relationships with schools and use them as a center to
deliver public education on banking services;
 School children would be able to transfer the message and help change parents
attitude towards saving and use of banking facilities;
 Deposit mobilization teams at branch levels need to visit every school in their domain
to share ideas on banking and saving;
 Branch managers encourage schools to arrange visits to their branches for students
& brief them about banking operations;

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 Cooperation with NGOs that are working on various social and economic issues
should be targeted as an organization to put their fund in our bank until they utilize it
for the intended purpose;
 Employees of NGOs including lobbying of their employers to pay salary
 SMEs that make periodic own savings to meet their plans of expansion, which can
temporarily be placed in the form of bank deposits;
 Petty traders operating under shades – traditional coffee and tea vendors, fast food
vendors, etc;
 Wholesalers, retail traders and service providers;
 Civil servants that have already developed some kind of saving habit
 Individuals that self-excluded from banking services or intermittently use limited
services of the bank due to various reasons;

III. Provide Door to Door Banking Services


There is a need for such banking services particularly for corporate customers and
institutions who have large cash sales and huge transactions. However, such services
once started, the service should not be terminated so as to maintain accessibility and
high customer confidence.
 Retail delivery of financial services at the door steps of customers;
 Consider availability of business potential for such services in:
 Large construction project sites; Road projects, Condominium houses;
 Manufacturing Projects;
 Mechanized commercial farms (like horticulture and cotton) that deploy large
labor forces;
 Areas where warehouses of the Ethiopian Commodity Exchange are
operating;
 Exhibitions & trade fairs

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IV. Forging Viable Linkage with Potential and existing corporate
customers
These include big companies with large sales volumes, local and international institutions
with huge budget, NGOs, unions, associations and so on. Linkage establishment process
may involve some set of activities:
 Identifying potential customers/institutions for linkage;
 Conducting discussions and reach an agreement with these institutions on areas that
support mutual benefits;
 Signing of memorandum of understanding;
 Drawing clear and detail procedures and communicating to the respective branches
and districts;
 Getting into the implementation phase;
 Having regular meeting to evaluate performance and resolve issues that may crop-up
in the process.
 These tasks can be done at branches, districts, & HO level, depending on the nature
of the partnership.

V. Persistently Promote Service Excellence to Exceed Customers


Expectation
 It is all about understanding customers’ needs and offer solutions professionally;
 If expectations excel performance, perceived quality would lead to dissatisfaction;
 Service excellence is key to customer base expansion
 Issues to consider are :
 Having enthusiastic, responsive employees & equipped with relationship
management skills;
 Persistent coaching and training of new employees;
 Assisting banking services with E-banking products of the bank;
 Sharing best practices collected from other banks and branches’ visit;

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 Special focus needed to Addis Ababa and regional towns, given volume of
business and degree of competition for larger depositors;
 Need to strive to increase customer satisfaction and decrease customer
complaints;
 Continued follow-up & ensure quality service is delivered.

VI. Enhanced Money Tracking Activity


 Large flow of cash in connection with government projects;
 Payments effected by one branch to others, need to be traced, tracked and
channeled to the banking system;
 Expenditure tracking may not only focus on government expenditures, but also on
private expenditures that have significant value.
 Activities to be carried out while tracking Money include:
 Lobbying and convincing recipients, especially when they are not the bank’s
customers;
 Increased coordination & synergy among branches and Head office
organs/districts;
 Use of van based mobile banking services at project sites;
 Large account holders need to be monitored at all levels including at the
corporate, districts and branches level.

VII. Exert Maximum Effort to broaden Customer Base of the Bank


 Supply lock boxes to potential savers particularly petty traders, small shop owners,
micro enterprises, etc.
 Handle salary payments by the Bank;
 Use E-banking services to attract more potential customers;
 Introduce door-to-door services for large and regular customers;

VIII. Deposit customers are the best source of cross-selling


opportunity particularly for electronic card sales . However, card

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sales should be with introduction of its usage on actual ATM & POS machines. After
sales follow up should also be exerted to ensure the card stay making transactions

IX. Deposit Growth Requires Delivering Value Across a Wide


Spectrum of Areas
 Convenience
 Best in Class Customer Service or act as a consultant or Adviser on banking services

X. Sales Support: Driving Change at the Front Line through a


Consistent Sales Process
 “Needs-based” selling process to support relationship building with all clients
 On-Board” new customers/ “2 by 2 by 2”
 Two days after a new account is opened, call the customer and thank them
for their business
 Two weeks after an account is opened, follow-up to make sure that they
have received debit card and checks
 Two months after account is opened, call to ensure that everything is going
smoothly and to see if there is anything else you can help them with

XI. Run Three Major Deposit Campaigns Each Year


 Put a campaign against the toughest months
 Hold weekly meetings, sharing best practices
 Reward teams with recognition and celebration

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