Investigating How Barclays Communicate With Their Customers
There are different types of ways; Barclays can communicate both internal and external customers. If the bank is communicating with internal customers (i.e. employees), this is known as internal communication. If the bank is communicating with external customers (i.e. community, shareholders), this is known as external communication.
Verbal communication
The financial bank can use verbal communication to communicate with customers within the organisation such as, face-to-face conversation, and outside the organisation such as, dealing with customer’s complaint over the telephone. The benefits of verbal communication to Barclays
Banc One uses the following investment to manage interest rate exposure. In the early 1980s, Esty, Tufano and Headley (1998) mentioned that it managed its exposure to interest rate risk by adding balancing assets to its investment portfolio until it felt it had enough fixed-rate investments to offset its fixed-rate liabilities. In 1983, Banc One began to use interest rate swaps to manage interest rate exposure. Swaps will be discussed in the later paragraphs. In 1986, Mortgage-Backed Securities (MBSs) was introduced.
The Royal Bank of Canada (RBC) is a blue-chip financial services company, and the largest of its kind in Canada. The bank is considered a blue-chip company due to its relative low-risk as an investment. With over 16 million public and private clients in over 35 countries, the bank has a secure international financial holding. They serve a wide fiscal demographic; with wealth management services for investments and high net worth clients in North America, and general personal/commercial banking services available for the general market ("Royal Bank of Canada"). As well as being an internationally recognized brand, RBC has weathered extreme economic strain, for example, during the crash of the American housing bubble in 2008 RBC boasted a 9 month high in their stocks ("Corporate Profile"). This evidence indicates a history of financial security and future stability.
Since I work at TD Bank, we are a bank that is extremely focused on “banking human” and “WOWing” all of our customers. Customer service has a great impact on all businesses because it is the determining factor on whether a customer is more likely to return in order to increase business. At TD Bank, we are trained to focus on profiling a customer’s account and to make sure that they are in all of the best accounts that suit them. We are also trained to introduce ourselves while using the customers name during a transaction to make it more personal. Another way to make it more personal is that we are a very open bank and are not aloud to have those glass windows separating us between the customers.
Barclays’ Internal and External Customers Barclays offers a wide range of services to both internal and external customers. Internal customers are member of staff/colleagues that work in an organisation. Examples of internal customers in Barclays include: Small Business Managers, Customer Relations Team, telephone operators, Financial Planning Managers, Customer Service staff, Counter staff, Accountants, Consumer Relations Team, and Relationship Managers. External customers are the majority of individuals who lives in the local areas. Examples of external customers of Barclays include: disabled people, elderly, foreign people, parents, couples, widows, divorcees and students (from schools, colleges, and universities).
quickly and they are next to you or if they are in the same area as
Communication in the workplace is vital to ensuring the success of a business. If communication is not effective in a business, miscommunication occurs which leads to conflicts which results in lost time and money. In the workplace today, different tools are utilized to connect us with management, co-workers and others, such as email, social media, teleconferences, as well as direct communication and presentations. Showing a clear, concise and error-free message is essential in delivering your message.
Currie (2007) states Effective Verbal Communication is important when building relationships with clients, customers, and the media (pg 1). Verbal communication is important along with listening skills so that communication between parties is clear. Verbal communication is accompanied by sign language called non verbal communication. This communication can be expressed in many ways: One can ask another “How are you today” Reply, “I’m okay” but the shrugging of the shoulders, squinting of eyes and lips closed tightly together gives another answer.
During the communication I often express the emotional opinions about the products and services to develop an emotional connection between the customers and the products or services that I am supposed to offer them. This communication style has helped me in my career as this style makes a lot of customers feel secure and safe.
In this case study it was stated that there were a problem happen in the outsourcing for the Royal Bank of Scotland. What happen was there were an error that happen during the routine software upgrade that cause million of that bank customer cant access to their account. The error happen when one junior technician in India was accidently wiped all the information during the routine software upgrade. The member of staff that was working under the program for the Royal Bank of Scotland, NatWest and Ulster Bank and it was based in Hyderabad, India.
Effective business communication is central to the success of an individual’s career and consequently to that of the overall business entity. It would be imaginable therefore that there is some form of correlation between effective communication skills and such success. To put this into context, University of Kent (2011) has placed Verbal Communication at the top of the ten skills that employers most commonly look for. On the same note, anything that hinders effective communication is bound to have a negative effect not only on the specific message delivery, but also on the overall success of a career. In this paper, some of the barriers to effective business communication are discussed, with a few examples of how they affect the process.
Barclays group PLC is one of the largest financial providers in America, Europe, Asia, Australia, Africa and Middle East. , It which is mainly engaged deals with credit cards, retail banking, investment banking, corporate banking, and wealth management. The bank is made up of investment and corporate banking, global retail banking and wealth management, each of which has several business units (Burn, Cartwright &Maudsley, 2009).
Bank of Maldives (BML) is a large organization and therefore needs to be able to communicate in various ways. The first way that Bank of Maldives communicates is verbally, Bank of Maldives (BML) relies largely on verbal communication. Verbal communication consists of two or more people. Verbal communication can be formal or informal often depending on who it between. There are many different ways of verbally communicating some examples are verbally communicating, on the telephone, video call, meetings, face-to-face and more. Face to face interaction where each person in the conversation will direct and the other person or people will receive the information and shortly after
In a business, communication not only takes place between the business and their buying customers, but also with their suppliers, within themselves and all of the stakeholders involved in the business. This includes all of the internal and external customers.
I will definitely use these aspects of communication in my business career the verbal and non-verbal communication shapes our interactions with others in business and interpersonal relationships, as well as our financial and personal success, and our physical and psychological well-being. I believe understanding the different aspects of verbal and non-verbal communication, and the important roles they play in our interactions with others is the first step to enhancing positive communication and nurturing