Advanced Service Management

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152724: Advanced Service Management

Semester: One

Assessment: 3

Lecturer: Dr. Janet Sayers

Due Date: 5 June, 2012

Word count: 2509

Student Name: Saket Bajaj

Student ID: 12060998

Email: saketkbajaj@gmail.com

“Critically analyse the ASB’s competitive strategy and suggest improvements to its customer service. Demonstrate service logic in your answer.”

“Critically analyse the ASB’s competitive strategy and suggest improvements to its customer service. Demonstrate service logic in your answer.”

New Zealand Banking Industry comprises of four major banks; ANZ National Bank, Bank Of New Zealand, Westpac Bank and Auckland Savings Bank (ASB). Majority of the banks in New Zealand are under foreign ownership. Of the twenty one registered banks only two major banks are under New Zealand ownership (Kiwibank & TSB Bank). Since globalisation and deregulation of the financial sector, the New Zealand Banking industry has become a highly competitive market. In this competitive environment for banks to survive, innovation and improvisation play a vital role (Du, 2011) ASB Bank is one such bank which has grown and maintained its market position, by introducing different innovative services and technologies. Further in the essay we will see how the establishment started, the various changes it went through, the technological changes they brought in the banking industry and how these technological innovations are providing ASB a competitive advantage.

Auckland Savings Bank (ASB) has grown to become one of the four major banks currently in New Zealand. ASB was established in 1847, with a focus to providing the community banking services and housing loans to lower and middle sector of the population. An advertisement in The Auckland Times in 1845, inspired leading Auckland businessmen towards the establishment of Auckland Savings Bank (ASB).The advertisement stated, “What have the working class done, that they should be denied the national advantages and...