Role of Technology in Service Marketing

Presented by :Nair Venkatesh Ravidranath S3 MBA IMT

Technology in Banking
Automated Teller Machines (ATM)
It has been estimated that there are around 400,000 ATMs worldwide out of which 1,00,000 are located in Japan alone. ATMs allow the user to perform upto 150 kinds of transactions ranging from simple cash withdrawals and deposits, to fund transfer to trading in stocks to buying mutual funds to something mundane like payment of electricity bills, booking air-tickets and making hotel reservations.

 'Virtual' Bank
The customer activated terminal (CAT) or Kiosk is an interactive multimedia display unit, housed in a small enclosure, typically consisting of a computer workstation, monitor, video disk player and a card reader. It allows the customers to browse through information and use the available banking services at their own speed.

Image Processing
As financial services including capital markets and banking are highly document intensive, image processing technology can have a far reaching impact for such applications for its 'Less paper ' handling characteristics.

 Home Banking
Smart phones with screen built-in modems and programmable microprocessors let the customer access a variety of financial services from home.

Electronic Funds Transfer at Point of Sale

(EFTPOS)
While travelers' cheques meant 'pay-nowbuy-later' and credit cards had 'buy-now-paylater' advantages, EFTPOS or debit cards signify 'buynow-pay-now' but without cash transaction. The user presents his ATM card when he buys goods and the EFTPOS system immediately debits his bank account.

 Smart Cards
The 'Processor' type smart cards with in-built integrated circuits (ICs) or micro-chips offer a wide range of transactional opportunities even from remote areas. The smart cards are extensively being used for employee 'clocking in', withdrawing cash from ATM, using pay-phones, payment of various bills, etc.

Electronic Data Interchange (EDI)

EDI typically denotes paperless financial transactions across the locations. The companies can now operate their bank accounts through corporate banking terminals in their own offices which are linked to the bank computers. Companies can thus carry out transactions like transferring funds, managing its cash flow, opening letters of credit, etc.without any paper work.

Technology in Education

EDUCOMP

Improves teacher effectiveness and productivity in class. It brings abstract and difficult curriculum concepts to life inside classrooms. Makes learning an enjoyable experience for students. Improves academic performance of students. Enables instant formative assessment of learning outcomes in class.

 Projectors
Projectors are a basic way to introduce technology to students in the classroom. The projector is hooked up to the teacher's laptop and projects the screen from the laptop to the white board in the front of the room. This enables students to see a larger version of what is on the laptop screen. SMART Technologies A SMART board is an interactive white board that allows the teacher to project an image from a laptop to the front of the room. The amazing part is that the teacher can then digitally draw on that image.

 Mimio Boards (Interactive-white boards)

They are interactive white boards that allow the teacher to manipulate computer functions on the white board in the front of the room. Sensors are in place in the board that allows the teacher to use a special pen that acts like a mouse. Teachers maneuver through websites, graphs and other lessons using this technology.

Classroom PCs
Some educators are lucky enough to have individual PCs for every student in the class. When every student has his or her own laptop, learning takes on a whole different dynamic.

Technology in Insurance
E-CRM
Insurance industry is a data-rich industry, and thus, there is a need to use the data for trend analysis and personalization. It is very difficult to interact with each and every person to whom the insurer wants, and in the insurance sector the customer relationship management is base. Thus with the help of e-crm insurer are taking knowledge about their customer and providing information directly to them. It also reduces the cost of marketing which increases the profit of business.

E-Insurance
Today various insurance companies are providing facilities to their clients. They can check the balance premium, maturity date, dues and outstanding of their policy. They are provided various new information regarding new policy. The customer can pay the premium amount of there policy from the einsurance option.

Technology in Health Care

Electronic Medical Record (EMR)
This digital record can hold the full details of an individuals medical history, which ultimately helps to direct diagnostic and therapeutic decisions when a patient enters the healthcare system.