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NAB Connect Case Study

Question

Task: Conduct a detailed project over the NAB connect case study in your selected organization.

Answer

This report on NAB connect case study is drafted to make aware the readers regarding the service of NAB connect provided by the National Australia Bank. The service resembles the characteristics of retail banking which has some sub-service entailed in it. This particular service could be accessed from any part of the world at any time. A major effort has been done in portraying the changes that the global market has witnessed in the recent two years. Majorly the ideologies of management and leadership have been covered in this NBA connect case study. The task was being divided into two groups, of which one has conducted its observation and analysis in the organization of Jaipur and the other one in Melbourne city of Australia. The bankers of each institute were contacted personally to get a good hold over the provision of the National Australian Bank.

 We have witnessed a lot of changes in this process of drafting the NAB to connect case study which had helped us in noting down the certain observation that eventually enlightened us of the bank processes. The related customers and colleagues were much appreciative of our work since it had provided them with very valuable observations. Before our project, many of the activities in the company faced various complexities because they were handled in a manual manner. By making the use of this NAB connect case study, the company has simplified very complex tasks that has in turn contributed to the enhanced efficiency of the company. The goal of our project would not have been attained if our team hadn’t worked efficiently. This project has empowered our team to handle any difficult project at any hostile condition because it has decoded the way to reach the desired goal by active participation and hard work.

Leadership Definition
The phenomenon of motivating the subordinates by utilizing the aspects of self-esteem so that a certain target could be attained from the perspective of a particular person could be termed as leadership. The activities of the leader would encourage his subordinates to achieve a common goal for a particular organization by devoting themselves to the cause.

Leader
The person who has overall authority over a certain organization and is positioned at the top of the hierarchical system could be termed as the leader of that institute or system.

It is the skill sets and knowledge of the leader by which the whole process and system followed in an institute is made coherent and cohesive. By the ideology of the leadership, it is aimed to achieve an extraordinary contribution from the workers or the subordinates.

In our NAB connect case study, the manager of the company is considered to be the leader. When our project started, it was Anurag Singh, who later handed over his position to the Rahul Swami. The change in position had happened because Anurag Singh was promoted to the post of the senior manager in the department of NAB.

We have initiated our project with a team of 16 members. Each of the members in our team was unique and retained a special set of talents. For the initial phase of 1 year 10 months, the team was led by Anurag Singh who was a staunch follower of flexible leadership. A gathering of team members was arranged by him for 30 minutes on a daily basis. Every member of the team was encouraged to provide valuable ideas and suggestion which could improve the outcome and completion of the project. The leader also had contributed a lot by providing valuable ideas regarding the way in which the group should attain the common goal. All the experience he had acquired in his 8years of service in the NAB department has reflected in his leadership.

In Australia, It was Lidia Pipiekez and Sandra Pekez who operated as the leaders of our team. They also visited us at Jaipur division of Genpact when our project was at a starting phase. It was them who had enlightened us with the processes followed in the NAB Connect system of the company.

The team had learned a lot from the NAB connect division of Genpact which could be implied later in the corporate platform. It has been observed that the NAB connect case study reflect both the Participative and Situational form of leadership. This was ascertained when the respective leaders had taken the decision which was based on the changing situational variables. The team members had also considered the valuable information provided by the team members which could make it certain that the leaders have followed the situational and participative leadership.

Change management definition
To transform the existing system of business processes, team ideologies, the composition of organizations, etc. from the current status to that of the desired status, change management is implied by the organization. The major aim of this approach is to augment the skill set of the employees and hence the system established in the organization to further level. Though al the strategies for change management should be checked and verified by the higher authority.

It is the right and responsibility of every employee in an organization to provide the relevant bodies with valuable feedback and suggestion so that the efficiency of the organization could be enhanced to another level.

Some examples of organizational changes
Strategic changes: By this term, it is tried to signify the alterations made in the strategy of the organization which could provide them with cutting edge against their rivals in the operational market and thereby increasing the scope and synergies.

Structural changes: These changes are implied by the managing team when the operations and functions are targeted towards achieving a common goal.

Technological changes: The technological change is being implied in an organization to attain a higher level of productivity from the system. The company should conduct regular activities in the research and development field so that the attest technologies could be implied in the company system.

Behavioral and personal attitude changes
 The alteration in the attitude of the employees so that a much more interest should be taken in the business processes of the company is signified by the phrase of behavioral and personal attitude changes.

As per the above-provided instances, the changes could be associated with the ideology of organizational changes. The change of the behavior should be implemented among the employees who are assigned as the respective team members so that the whole process could become more effective and less time-consuming. When the team had to continue with complex activities, we helped each other with great team spirit. This approach towards the tasks helped us in solving various problems raised by the customers which consequentially ended being recognized by the highest authority of the company.

NAB Connect Case Study
With the help of NAB connect case study facilities, the companies could streamline their own business and respective bank transactions via online method. The factors like the magnitude of business transactions and the approach adopted in the business process would not affect the service of NAB.

Processes under NAB Connect case study
Transforming the stance from National Online: In the current scenario, the services of national online are being utilized by the companies operating in the global corporate platform. It should be noted that the respective owners of the companies have to travel throughout the world in spite of the fact that they are using the national online services. The owners and the respective officials have to travel overseas on a constant basis so that their financial transactions could be observed and supervised securely and efficiently. It is in this scenario that the significance of the online banking transactions would emerge. Though there are some confusions and doubts regarding the level of security and speed of transactions among the company owners regarding the NAB connect case study service.

In the augmented Nab connect services offered by the banks, it is been guaranteed to the ownership of the companies that all the crucial information regarding the financial transactions is kept safe. It could only by the use of the security tokens that the higher authorities and the designated staff could access the service provided by the banks. The Nab service could be availed from anywhere and hence could commence the transaction even while traveling.

Shifting from the Internet banking offered by NAB: The internet banking facilities provided by NAB were used at the personal level and families for a long time for their financial transactions. If taking the instance of Hard Earth Removal Pty Ltd, it is a small-scale industry family business which expanding on a very rapid basis.

With the implementation of the NAB connect facility in its business system, the financial transactions and other bank features controlled efficiently by the officials of Hard Earth Removal. For the designated employees, the company owners could provide the authority to access the bank details and its features so that the management could be conducted at a better level. The company could also assign some cash limits to the individual users so that there could not occur any discrepancy in the financial accounts.

Shifting from the Branch and Telephone banking systems: Let us take an instance of Cristopher to understand the scenario in a better way. Cristopher is a lawyer, who has opted for a traditional way to run his business. He uses offline methods for transactions and hence the log bolls are heavily used to conduct the bank transactions.  The communication is majorly conducted via hone by calling to the respective bank branches.

If the services of NAB are implied in the business of Cristopher, a significant amount of time could be saved, and simultaneously it would bring down the cost incurred for carrying out administration. Logging to the services of NAB is far more convenient than referring to the humongous paper works. The cheques could be easily settled by referring to the transaction histories in the bank official portal. Referring to the Nab connect facility would be each easier and cheaper for Cristopher.

Changes to be made are the reason behind it: My project in Genpact company in the background of the NAB connect case study extended to a period of around two years. The project has started exactly on the date of 21st July 2008. The whole process could have been compared to a retail banking process. The team was bifurcated into two, of which one was engaged in the National Australian Bank, Australia, and others in the Genpact division established in Jaipur. I was assigned with the task to scrutinize the forms submitted by the business owners before the transactions made via NAB connect. If the forms entailed were incomplete or provided vague information, it was forwarded to the Australian team for further verification so that the bankers related to each organization could fill it with relevant data. The form for transactions could not be processed by relying on incomplete or vague data. Below are listed some of the crucial changes which have occurred in the organization while my project was going on.

November 2008: Service of downloading the data file. The files which were made available to be downloaded by this action are listed below.

  • BPAY reports
  • Locked Box reports
  • Direct entry return reports
  • Account information file (BAI2 format)

June 2009: In the earlier phase of the service provided by the company, not more than ten transactions were allowed to be initiated or authorized by the users. The new feature would provide the user with 20 transactions at the same time though the security token was required to commence the transaction.

Under this act, the security officer could change or modify the security officers.

November 2009: To make the processes followed in the business more efficient and effortless a set of lean ideas were introduced by various members of the team. Below are listed down some of the lean ideas. Let us have a detailed look at it.

Inclusion of respective identification details of the customers in the tracker system. The preparation of day end report could be made much easier by following this approach. The respective financial data regarding each customer or organization could hence be extracted from the spreadsheet files.

The manual approach was being taken by our team in handling the forms or applications submitted by the customers before the NAB transactions. This was a very arduous task and consumed a lot of significant time. The scenario has entirely changed by following one of the lean ideas provided by our team members. He suggested using the tool of Onboarding Accelerator which has increased the accuracy and speed of registering the relevant data of the users.

The inception of the above-mentioned change could be traced down from the change in behavior and attitude adopted by the team members which had led to the augmentation of the business processes installed in the company. The technological aspect of change management could also be considered in this context.

The team has performed very well in providing the company officials with crucial lean recommendations and ideas by the virtue of which they were awarded the Lean recognition certificate. The members were also provided with a training program for lean six sigma so that the skills could be augmented at a personal level.

February 2010: It has been observed that almost most of the tools required confidential passwords to initiate the required operations. The users found it very difficult and hard to retain the login credentials for every tool. All the crucial tools are being made available to the users which could be used without any particular password or login credentials. Though to ensure the privacy of the financial data entailed in the bank account, the user should remember his old password.

The above-mentioned change could be compared or linked with the major structural change implied in the company by the higher officials. The major portal or the official website of the company required the authorized employee to provide the username and password. Similar was with the case of operating the crucial tools. The unification and simplification of the official website have just mandated or required it to remember one password.

April 2010: If the Context of OA with respect to each security officer is taken into consideration, it could be understood that the database was not updated automatically by default access service. The security officers were required to include the information about each customer on a manual basis. Though the new changes have enabled the company systems to automatically update the information of the customers to the respective database of the security officers.

The comparatively extensive or the long forms are eliminated and replaced by the DAF or Delegated Authority Form. The DAF only requires to fill the account number and associated company name. It is by using the account number that the specific customer number is identified and thereafter the data is transferred to the Australian team. It is the duty of the Australian team to contact the customer personally and henceforth fulfill the required data in the form. The same details are then passed onwards by using the platform of OA.

The above-mentioned changes in the system could be related to that of the technological advancements or changes which were facilitated by utilizing the platform of OA. The overall changes have helped the company in saving considerable time which was lost earlier in the process of onboarding.

August 2010: In the earlier phases of the business processes, the applications for forwarded to the Australian counterpart so that the signature verification of the customers could be obtained. AT this stage, some crucial indicators were used of which T and Z were the major ones. These were the warning indicators, which if were present on the form restricted the officials from adding the consumer information in the database. This process required the customers to contact personally the related officials in the bank and hence wasted a significant amount of time. The new approach mandates it to use a readymade template so that the related queries could be focused directly on the banker. This approach has helped the company in eliminating significant lag in the business process and transaction. The above-mentioned lean idea was put fore=ward by me in the official gathering.

The facility of periodic payments was also developed instead of just relying on the aggregate payment from the customers. It is on a monthly basis that the customers are required to pay the section of the aggregated amount. The customers had also the options provided for making the payments on a weekly, fortnightly, quarterly basis as per the convenience and the character of the business being pursued by them. These services were exempted from the payments made on the international or global platform.

These crucial changes could be classified under the division of strategic changes. In the old process of transferring the documents to Melbourne and back forth consumed a significant amount of time. The new approach has not only reduced the wastage of precious time but also increased the efficiency of the whole company. This was an initiation for the major change in the strategical approach of the company management.

Conclusion
Our team had acquired a very crucial set of skills by conducting our project regarding NAB in the company of Genpact. By making aware of the company and its management regarding the NAB connect case study, the company was being enabled to reduce dependency over the banking services and hence creating many more job opportunities in the company. When the company has assimilated new changes in their business processes, the whole task of conducting the project became very convenient and easy. Since the company has started using OA for carrying out the complex application, our team magnitude has increased from 16 to 20 members.

The onboard of clients have been oversimplified and more precise by the installation of OA in the company. The level of customer satisfaction has increased to a significant level after the intervention of our team. It is being highly recommended in this nab connect case study that the entrepreneurs or the organizations working in the economy of Australia should make the use of NAB connect since it is very efficient and could be accessed from any place.

It has been observed that by the implication of the NAB case study, the company was able to increase its customer base from mere 1000 to 35000 in just the time span of 2 years. The company is growing very rapidly and hence has targeted the goal of achieving 60000 customers by next year. Though the company provides the employees with an intensive training program more effort should be given in the preciseness and accuracy of the business processes. The company should continue with its research and development wing so that the technical supremacy should be maintained against its competitors. We have made it clear in the above section of this NAB connect case study that the process of forwarding the queries is now made more transparent and the time lag has been reduced considerably in the business processes.

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