20244313 American Express

8/6/2019 20244313 American Express

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INTRODUCTION TO ORGANIZATION STUDY

Introductio

nThis is an overall study of the organization of American Express Bank Ltd. where

itsworking environment and various policies and practice arestudied.

Objectives:

The study has undertaken to get an exposure of actual working environment inanorganization. The main objective of the study is to familiarize with the frameworkand method of organizationworking.To know how AMEX works and method adopted.

To know the employee and employer relationship and co-ordination.To show up the different product range ofAMEX.To know the overall development ofAMEX.

Methodology

:Conducting personal interview with all the functional manager departmental headandsales executives. Collect the various data required to the study. Manuals andreportsof the company constituted the source of secondary

data.

Limitation

:The following limitation of this internshipreport:The study is limited to the study of whole organization and not onspecific

department.

This study is only subject to an organization and not consist the wholemarket.The study is time bound and would be applicable to current

scenarioIt is assumed that the information provided by the company is correctedand

reference is drawnaccordingly.

1


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Phase I

The General Bank of India was set up in the year 1786. Next came Bank ofHindustanand Bengal Bank. The East India Company established Bank of Bengal (1809),Bankof Bombay (1840) and Bank of Madras (1843) as independent units and calleditPresidency Banks. These three banks were amalgamated in 1920 and ImperialBankof India was established which started as private shareholders banks,mostlyEuropeansshareholders.

In 1865 Allahabad Bank was established and first time exclusively by Indians,Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between1906and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank,Indian

Bank, and Bank of Mysore were set up. Reserve Bank of India came in1935.

During the first phase the growth was very slow and banks also experiencedperiodicfailures between 1913 and 1948. There were approximately 1100 banks, mostlysmall.To streamline the functioning and activities of commercial banks, the GovernmentofIndia came up with The Banking Companies Act, 1949 which was later changedtoBanking Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965).

Reserve Bank of India was vested with extensive powers for the supervisionof banking in India as the Central BankingAuthority.

During those days public has lesser confidence in the banks. As an aftermathdepositmobilisation was slow. Abreast of it the savings bank facility provided by thePostaldepartment was comparatively safer. Moreover, funds were largely given totraders.


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Phase

III

This phase has introduced many more products and facilities in the banking sectorinits reforms measure. In 1991, under the chairmanship of M Narasimham, acommitteewas set up by his name which worked for the liberalisation of bankingpractices.

The country is flooded with foreign banks and their ATM stations. Efforts arebeing put to give a satisfactory service to customers. Phone banking and net bankingisintroduced. The entire system became more convenient and swift. Time is givenmoreimportance thanmoney.

The financial system of India has shown a great deal of resilience. It is shelteredfrom

any crisis triggered by any external macroeconomics shock as other EastAsianCountries suffered. This is all due to a flexible exchange rate regime, theforeignreserves are high, the capital account is not yet fully convertible, and banks andtheircustomers have limited foreign exchangeexposure.


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AMERICAN EXPRESS BANK Ltd.

INTRODUCTION

American Express Bank has presence in over 150 countries. It is a diversified

traveland financial services company. Established in 1850 in New York, AmericanExpressCompany was among the first and most successful express delivery businessestoarise during the rapid westward expansion of the UnitedStates.

American Express India was established in 1921 providing high quality travelandfinancial services. American Express in India is the largest company to havewidenetwork of travel locations in the country. American Express Travels has enteredintoa Memorandum of Understanding (MoU) with Department of Post to enable

thedesignated Speed Post offices in distributing and encashing AmericanExpressTravelersCheques.

American Express Travelers Cheques are available in the followingcurrencies:

AustralianDollarCanadianDollarEuro

Japanese

YenSaudi Riyal

South AfricanRandSwissFrancPound Sterling

USDollar


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HISTORY

Since its founding in 1850, American Express has conducted business accordingtoseveral guiding principles that over the years have become inextricably linkedwiththe companys brand, products, services and perhaps most notably itspeople.

Generations before the phrase company values entered the corporatelexicon;American Express employees across the organization were demonstrating thesamecore principles upheld by the companytoday.

American Express operates in over130 countries around the globe. Establishedin1850 in New York City, American Express Company was among the first andmostsuccessful express delivery businesses to arise during the rapid westwardexpansionof the UnitedStates.

The history of American Express is a fascinating one, filled with interestedandsometimes quirky characters that through a combination of brains, perseveranceandluck shaped the companys development during the past century and ahalf.

The express company that forwarded freight and valuables evolved into acompanythat created and sold financial products like money orders and travelerscheques.Following an era of international expansion, the company became an entity

perhaps best known for its charge card. Today, American Express is a globalpaymentscompany.

The attributes that today are the hallmarks of the American Express brandtrust,integrity, and security, quality, and customer service -- all have their roots inthiscompelling story. In this history, as well, are the genesis and development ofthecompany's aspiration to become the world's most respected servicebrand.


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AMERICAN EXPRESS BANK IN INDIA

American Express Bank is a diversified travel and financial services company. Itwasfounded in the year 1850. American Express Travelers cell is the worldleader.

American Express India was established in 1921 providing high quality travelandfinancial services. American Express in India is the largest company to havewidenetwork of travel locations in thecountry.

American Express Card division also tops upon other credit card issuer.AmericanExpress Credit Cards in India is of basic two varieties, namely InternationalGoldAmx Card and International Green AmxCard.

American Express Credit Cards

Criteria for availing American Express Gold and Green Cards are asfollows:

-

American Express in India has also launched Tata Finance American ExpressCreditCard with Tata Finance Limited which is globally accepted on the AmericanExpressglobal merchant network. This card is both issued and serviced by TataFinanceLimited and carries an American Express Blue Box logo at thebottom.

The American Express India Card Members enjoy discounts of 3% to 7% on

airlinetickets, convenience of booking tickets over the phone and 40% discounts onoverseashotelsrates.

Card type Public ltd.income

Self-employedincome

Salaried income

Internationalgold amex card

150000 150000 150000

Internationalgreen amex card

72000 72000 72000

American Express Travelers

Being the best in the world, and American Express India having the largestnetworkof travel locations in the country, American Express Travels has also entered intoaMemorandum of Understanding (MoU) with Department of Post. Thisarrangementenables the designated Speed Post offices in distributing and encashingAmericanExpress TravelersCheques.

American Express Online

American Express is online in the maximum countries out of over 130 countries ithasservices. The URL of American Express India is asunder:

www.americanexpress.com/india

Some of the following services can obtainedonline

View your Amex Card account statementonlineRegister to manage your Amex Card accountonlineView your American Express RewardsPointsReset your Amx Card accountpasswordUpdate your Personal Amex CardinformationOrder your promotionalmaterialApply to accept the AmxCard


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AREA OF BUSINESS

SMALL BUSINESS

Apply for Cards &Financing

CORPORATIONS

Apply for a CorporateCardCorporateCardBusinessTravel

MERCHANTS

Accept the

cardManage your MerchantAccount

PERSONAL

PERSONAL CARDS

Apply for a Card

MembershipRewardsBenefit

sShopping

GiftCards

TRAVEL

Flights

HotelsCars

CruisesVacationsLast MinuteDealsTravelers ChequeCards


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PRODUCTS & SERVICES

INVESTMENT PRODUCTS

We offer a full range of investment products and the highest standard in

investmentmanagement. The Private Bank has the flexibility to choose world-class sub-advisorsand investment managers from the world's leading asset management andspecialtyfundmanagers.

FOREIGN EXCHANGE & TREASURY

Around-the-clock trading of an extensive range of foreign exchangeproducts,including spot trading, options, derivatives and forward contracts, withparticularexpertise in non-G7 currencies. American Express Bank has trading centers inHongKong, Singapore, London and New York.

CREDIT AVAILABILITY

Secured loans to provide short-term liquidity without disrupting your long-terminvestment positions, or to increase your exposures for yield enhancement. Youcanleverage your assets in one jurisdiction for use in another, or your personal assetsforyour business. Pre-approved loan margins are in place for a wide range of

assets.People can call for the specific loan-to-value percentage for eachproduct.

FIDUCIARY SERVICES

Legal structures to protect your assets ensure your wishes are carried out andsecurethe future for you and your family. Fiduciary specialists are available in Europe,Asiaand the Americas to advise you on the structures that will provide protectionandaccomplish your objectives.


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INSURANCE

Insurance can provide liquidity at a critical moment, continuity in yourbusinessshould you become disabled, and the maximum number of choices for yourheirs.Policies are issued by established external insurance carriers selected on a region-by-

regionbasis.

CHOICE OF JURIDICTION

The Private Bank has offices in all of the major offshore private bankinglocations.American Express Private Bank offers access to a wide range of investmentproductsand services that can help you protect and build your wealth, regardless ofyourfinancialobjectives.

SIGNATURE PORTFOLIOS

For individual and institutional investors with $1 million or more, SignaturePortfoliosoffer professional management and a choice of fixed income, equity orbalancedorientation.

US Conservative FixedIncomeUS Moderate FixedIncomeEuro Fixed Income

Global FixedIncomeGlobalEquitiesUSEquitiesUS Mid CapEquitiesUS Large CapEquitiesJapaneseEquitiesEuropeanEquities

DISCRETIONARY PORTFOLIOS

These investments are designed for clients who want globally diversifiedportfolioswith professional management of asset allocation and underlyingproducts.


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CASH PLUS

Cash PlusConservativeCash PlusModerateCash Plus ModerateEuro

Cash PlusGrowth

BALANCED ENHANCED

Enhanced GlobalConservativeEnhanced GlobalModerateEnhanced EuropeanModerateEnhanced GlobalAggressive

TRADITIONAL

Traditional GlobalConservativeTraditional GlobalModerateTraditional EuropeanModerateTraditional AsianModerate

City College Dept. of Management

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FOCUSED EQUITIES

Focused GlobalEquitiesFocused Asia Ex-JapanEquitiesFocused USEquities

Focused Emerging MarketsEquities

MUTUAL FUNDS

American Express FundsWorld folio, American ExpressInstitutional andWorldExpress Funds offer a broad range of mutual funds designed to meet individualrisktolerance and time horizonpreferences.

PRIVATE BANKER

Your Private Banker can marshal resources on your behalf and craft solutions toyourindividual requirements. Wherever the need may arise, you can have access totheworldwide capabilities and services of the American Express Company, agloballeader in financial services, travel, and credit and chargecards.

The original card that set the standard for prestige and exclusivity, the PlatinumCardis offered to private banking clients at no annual fee with qualifyingbalances.Automatic credit card bill payments can also be arranged through your

PrivateBanker.

The original card that set the standard for prestige and exclusivity, the PlatinumCardis offered to private banking clients at no annual fee with qualifyingbalances.Automatic credit card bill payments can also be arranged through yourPrivateBanker.

Travelers Cheques are available in most currencies, including the Euro, and canbe purchased through your PrivateBanker.

The Private Bank has an extensive global network that has grown anddevelopedthroughout the years to meet the needs of our clients. American ExpressBankcurrently has 75 offices in 38 countries around theworld.

City College Dept. of Management

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WEALTH MANAGEMENT

American Express Private Bank offers a range of wealth managementservicesdesigned to meet your uniqueneeds.Protecting Your Wealth

Building Your WealthProviding for FutureGenerations

DEPOSITS

Traditional and innovative deposit and deposit-alternative products can help youmeetyour needs for liquidity and capital. American Express Premium Deposits,availablein most locations in U.S. dollars and Euro, offer an alternative to bank depositsandare particularly suited to investors who want both security and a competitive

rate.These non-bank deposits are available in terms of 1, 2, 3, 6 or 12 monthswithcompetitive rates relative to the London Interbank Rate, fixed for the term ofthedeposit.

Our investment management solutions are designed to grow your assetswhile

you achieve your unique financialobjectives.

Maximum flexibility and access to nearly all the major worldwideasset

classes characterize the Private Bank's family of mutualfunds.

Portfolio management by investment professionals who are among the bestin their

industry.Discretionary portfolios for investors who want globally diversifiedportfolios

and prefer professional management of their asset allocation andfundselection.

Alternative investment solutions for sophisticatedinvestors.Ideas and information that synthesize research from within and outsideof

American Express to assist you in making your investmentchoices.


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OTHER SERVICES

Your substantial assets require complex estate planning to ensure that your wealthis protected and managed for your benefit and for the benefit of futuregenerations.

A variety of structures to choose from, including trusts and privateinvestmentcompanies, depending on your individualcircumstances.Expert advice to meet your needs for estate planning, taxminimization,confidentiality, and management continuity andcentralization.

A choice of jurisdictions for the most convenient and advantageouslocation.


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ACTIVITIES

The American Express Bank

India

offers cards to meet everyrequirement

of their clients. The American Express Card division stands at the top of allothercredit card issuer. American Express Credit Cards in India is of twovarieties-1. International Gold AmexCard2. International Green AmexCard

The American Express India Card members enjoy discounts of 3% to 7% onairlinetickets, convenience of booking tickets over the phone and 40% discounts onoverseashotel rates. The American Express Bank India provides a wide range of cards like

theAmerican Express E-Credit Card, American Express Credit Card, AmericanExpressGold Credit Card, American Express Card, American Express Gold Card,AmericanExpress Platinum Card, MTNL American Express Credit Card, India TodayGroupAmerican Express Credit Card, Indian Airlines American Express Green Card,IndianAirlines American Express Gold Card, Indian Medical Association (IMA)AmericanExpress Credit Card for medical professionals and The Institute of Cost andWorksAccountants of India (ICWAI) American Express Credit Card for Cost andWorkaccountants

.The other noteworthy services offered by the American Express BankIndia

are the issue of the American Express Travelers Cheques which isrecognizedglobally and are safer to handle than cash. American ExpressTravelersCheques are replaced worldwide within 24 hours in case of lost or theft.Theyare available in a variety of currencies like the Australian Dollar,CanadianDollar, Euro, Japanese Yen, Saudi Riyal, South African Rand, SwissFranc,Pound Sterling and US Dollar.

The American Express Bank India also provides personal bankingserviceslike Savings, Current and Term Deposit Accounts, Personal Loans

andInvestmentServices.

The American Express Bank India with Tata Finance Limited haslaunched

Tata Finance American Express CreditCard.


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VISION, MISSION & OBJECTIVES

VISION

To become the world's most respected servicebrand.

.

MISSION

A logical extension of the Vision Statement is the Mission of the Bank,whichis to gain market recognition in the chosenareas.To build sizeable markets share in each of the chosen areas ofbusinessthrough effective strategies in terms of pricing, product packaging

and promoting the product in themarket.

To promote confidence and commitment among the staff members, toaddress

the expectations of the customers efficiently and handle technologybankingwithease

OBJECTIVES

CustomerprivacyCustomerconfidentialitySecurity of customerdataCustomersatisfactionProviding high quality services &products


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PEOPLE BEHIND AMEX

American Express was founded in 1850 by Henry Wells, William Fargo, andJohnButterfield as an express business. In 1882, American Express launched itsmoneyorder business to compete with the US Post Office's money orders. Thisproductquickly spread to Europe where no such financial product existed. Sometimebetween1888 and 1890, J. C. Fargo took a trip to Europe and returned frustratedandinfuriated. American Express India was established in 1921 providing highqualitytravel and financial services. American Express in India is the largest companytohave wide network of travel locations in the country. American Express Travelshasentered into a Memorandum of Understanding (MoU) with Department of Posttoenable the designated Speed Post offices in distributing and encashing

AmericanExpress TravelersCheques.

W. Richard Holmes has been elected chairman of American Express Bank,Ltd.,(AEB) American Express Company's international banking subsidiary, based inNewYork. He adds this title to his current one of chief executive officer of AEB, a roleheassumed in June, 2000. As chairman, he succeeds James Cracchiolo, who hassteppeddown as chairman of AEB to work full-time with the Company to complete thespin-off of American Express Financial Advisors

(AEFA).

William J. Blomquist, currently managing director and head of AEB'sFinancialInstitutions Group, and Sergio J. Masvidal, currently managing director and headofAEB's Private Bank, were elected ViceChairmen.

Holmes, 52, became president and chief executive officer of AEB in 2000. HejoinedAmerican Express in 1996 as managing Director and head of WorldwidePrivateBanking, leading that unit through a period of significant

expansion.

Holmes has more than 20 years experience in international banking, having servedinvarious positions at Wells Fargo Bank and at Bank of America. From 1993 to 1996hewas an executive vice president and head of Bank of America's Private Bank.He


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began his professional career with the accounting firm of Peat, Marwick & Mitchellin1974.

He holds a bachelor's degree in Economics from St. Johns College,CambridgeUniversity in England in 1974 and a master's degree in economics, also fromSt.Johns. He is also a Fellow of the Institute of Chartered Accountants in EnglandandWales and co-chairman of the International Private BankingCouncil.

William J. Blomquist, a 35-year veteran of American Express Bank, wasappointedmanaging director and head of the Financial Institutions Group in 1995. He hadbeenmanaging director and regional executive in charge of Europe, Middle East,andAfrica, from 1990-1995. Prior to that, he held wide-ranging senior managementroles

in Switzerland, Asia, and the MiddleEast.

Sergio Masvidal was appointed managing director and Head of the GlobalPrivateBank, based in Miami, Florida, in 2000. He joined AEB in 1987 as generalmanagerof American Express Bank International, the private banking arm of AEB. In 1992,hebecame president of AEBI and in 1996 he became Latin American region head forthePrivate Bank. He has more than 30 years of experience in the bankingindustry.


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BOARD OF DIRECTORS

Daniel F.AkersonManaging Director, The CarlyleGroup

CharleneBarshefskySenior International Partner, Wilmer Cutler Pickering Hale and DorrLLP

Ursula M.BurnsSenior Corporate Vice President and President of Business Group Operations,XeroxCorporation

Kenneth I.ChenaultChairman and Chief Executive Officer, American ExpressCompany

PeterCherninPresident and COO, NewsCorporation

Vernon E. JordanJr.Senior Managing Director, Lazard Freres & Co.

LLC

JanLeschlyChairman and Chief Executive Officer, Care CapitalLLC

Richard C. Levin

President, YaleUniversity

Richard A.

McGinnPartner, RREVentures

Edward D.MillerFormer President and Chief Executive Officer, AXA Financial,Inc.


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Frank P. Popoff

Chairman, Chemical FinancialCorporation

Steven S Reinemund

Former Chairman and Chief Executive Officer, PepsiCo,Inc.

Robert D.WalterChairman and Chief Executive Officer, Cardinal Health,Inc.

Ronald A.WilliamsChairman, Chief Executive Officer and President, Aetna,Inc


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POLICIES

Some of the policies of AMEX are asfollowing:

FAIR PRACTICES CODE FOR CREDIT CARD OPERATIONS

American Express Bank Ltd. (hereinafter referred to the Bank) has a reputationforcustomer service and soundcompliance.

The Bank has various policies and procedures that govern its business activitiesandoperations. Further, the Bank has compliance and other internal programs designedtoensure compliance with laws and regulations of countries where it does

business.

This Fair Practice Code (hereinafter referred to as the Code) for creditcardoperations is designed to guide and demonstrate the Banks commitment to fairandethical management of its business activities operations related to issuance ofcards,customer service and other relatedactivities.

COMPLIANCE WITH THE CODE

This is a non-statutory code and the Bank shall take efforts to adhere to itduringnormal operating environment. The Bank shall not be held responsible fornon-compliance due to force majored conditions and other reasons for which theBankenjoys privilege and right over thecode.

This code does not in anyway prevent the Bank from exercising its rightsanddischarging its duties and obligations under law, regulations, agreement, termsand

conditions, etc. in force and varied from time totime.


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OPERATING PRINCIPLES

We must provide a superiorvalue

proposition to our Customers

We must achieve Best-in-ClassEconomicsEverything we do should support the American Express

Brand.

BUSINESS ETHICS

The Bank and its employees shall ensure that ethical conduct shall permeate allour business dealings andrelationships.

In a rapidly evolving credit card business, the Bank and its employees shallensureethical conduct in offering products and services, business activities, operations

andcustomer services. The Bank shall conduct its business in accordance withapplicablelaws andregulations.

The Bank has competent individuals managing regulatory affairs andadvising business leaders about compliancerequirements.


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FUNCTIONAL AREAS


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ORGANISATION CHART


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AMERICAN EXPRESS INTERACTIVE

American Express Interactive (AXPi) drives online business strategies acrosstheentire enterprise. This means being cohesively integrated into every businessunit,

merging service and marketing with leading-edge interactive technologies.Workingwith AXPi provides a broad view of our entire organization, as well asthecompetitive landscape. It keeps a sharp eye on external indicators and buildsstronginternal relationships that allow identifying and responding to allemergingopportunities. AXPi clearly impacts the bottom line of our global company,withaccountability for developing new ideas and delivering on realresults.

MARKETING

American Express is a premiere marketing company, known for sharp,savvystrategies. Here, it develops and champion a well-established brand builtuponexcellent product and service attributes. It manages product lifecycles frombeginningto end, synthesizing information into actionable plans. It also developsanunderstanding of new product development, customer acquisition and loyalty,andpartnershipopportunities.

MARKETING BUSINESS UNITS

American Express Interactive(AXPi)Consumer Card Services Group(CCSG)Establishment Services(ES)Global Commercial Card(GCC)OPEN from American Express(OPEN)Global Network Services

(GNS)International Consumer & Small Business Services(ICSS)Global Business Travel(GBT)


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CARDS SALES AND MARKETING

The Bank shall provide full and complete disclosure of products and services,theirfeatures and costs to enable a prospective customer to make an informed decision/choice The Bank shall provide informationon:

Key features of our products andservicesApplicable fees and otherchargesDocuments required with regard to identity, contact, particulars,employment,

financial standing,etc.

How a customers personal information shall beusedDetails of Bank contact for seeking additionalinformationTerms and conditions related to fees and interest charges, billing and

payment,renewal, termination procedures and other aspects related to maintenanceandmanagement of cardaccounts.

The Banks advertising and marketing campaigns shall use truthful andwholestatements about Banks products andservices

The Bank shall ensure that the whole of an advertisement is truthful, shallinformcustomers of costs and obligations as well as benefits and features.

Theadvertisements may not mislead by using tricky or cleverwording.

The Bank shall have a Code of Conduct for its agents and others, who sell,distributeor otherwise market Banks cardproducts.

The Bank shall ensure that all agents who sell, distribute or otherwise marketBanksard products have a Code of Conduct for their dealings with prospectivecustomersand Card members. The Bank shall have monitoring process in place to reviewtheagents compliance to this code, at regularintervals.


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COMPETITORS OF AMERICAN EXPRESS BANK

Top Performing Public Sector

Banks1 Andhra Bank

2 State Bank of Mysore3 AllahabadBank4 Vijaya Bank

5 Punjab National Bank

Top Performing Private Sector

Banks1 HDFC Bank

2 UTI Bank

3 ICICI Bank

4 Kotak MahindraBank5 Centurion Bank of Punjab

Top Performing Foreign

Banks1 Citibank

2 Standard CharteredPLC3 HSBC Bank

4 ABN AMRO Bank


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CUSTOMER CARE

Customer Care, which is called Service Delivery Network (SDN), you willbecomefamiliar with our diverse customer base, their needs and expectations, andthe

industry-best products and services we provide. The work is about reengineeringandoptimizing processes for improved satisfaction and cost containment, as wellasdeveloping operational and network strategies for maximum efficiency. It's alsoaboutselling ideas, creating better solutions and responding to trends. Customer Careisopportunity to make decisions that impact millions of people around the world,takeownership for own success, and win for the customer at everyoccasion.

CARD OPERATIONS AND CUSTOMER SERVICE

The Bank shall have effective processes and systems to ensure quality inoperationsand customer service.The Bank shall maintain effective processes and systems to maintain qualityinfollowing card operationsactivities:

Timely processing for applications and communication of decisiontocustomersDispatch of credit card in a secured mode and follow-up communication

toinform about issuance ofcardAvailability of contact centers such as telephone service centers forcustomersto contact for information or queries on products, services and relatedsubjectsTimely dispatch of credit cardstatementsTimely processing of payments received from credit cardcustomersReceipt and satisfactory disposition of customer correspondencesandcomplaints


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The Bank may have processes to honor customers choices and preferences duringthe period of customer relationship The Bank may have processes to honorcustomerschoices with regard to the following, subject to certain terms andconditions:Change of payment modes within types offered by theBank

Opting out from receipt of Banks marketing and promotionalmaterialsVoluntary termination of credit cardfacility

The Bank shall treat customers with respect and dignity during collectionefforts.

The Bank has policies and employee training programs to guide employees toexhibitcourteous and fair behavior during collection efforts. The Bank shall ensure thatallcollection and recovery agents have a Fair Practice Code for their dealings withthecustomers.

The Bank shall have monitoring process in place to review the agents compliancetothis code, at regular intervals.


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CUSTOMER PRIVACY

The Bank shall safeguard the privacy, confidentiality and security of customerdata

entrusted withit:

The Bank has privacy principles to ensure that the customer information collectedisrelevant, accurate and confidential. The Bank has adequate standards toprotectcustomer accounts and information. These standards allow customers to removetheirnames from lists used for mail, telephone and online marketing. All employeesshallbe trained in customer privacy principles as appropriate to theirwork.

RISK & INFORMATION MANAGEMENT

In the financial services arena, the Risk, Information and Banking function isthe backbone of our operations. The work is truly global and transcends all aspectsofAmerican Express, including consumer cards, small business services,corporateservices, and our merchant partners. Here, it set the industry standard formanagingrisk associated with fraudulent activity, while also providing a strategic

perspective,overseeing the customer information cycle, and leveraging technology in supportofall business units. Because of this scope, Risk, Information and Banking is anideal place to get an "end-to-end" understanding of the Company's core businessesand position yourself for future growth across various departments andgeographies.


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FINANCE

Finance at American Express plays an integral role in everything from newproductdevelopment to corporate planning and reengineering. It is owner, guardianand

analyst of information, making strategic, financial and operational decisionsthatimpact customers, merchants and shareholders. Work may be focused on aspecific business unit or corporate-wide initiatives, giving exposure to a variety offinancial projects. Either way, work in Finance will make a lasting impact on globalcustomer base, as it excel on a collaborative, cross-functional team with a mission to betheworld's most respected servicebrand.

STRATEGIC PLANNING GROUP

What kind of company should American Express be in five years? That's the kindoffar-reaching question we answer as a member of Strategic Planning Group (SPG).Itserve as an internal consultant and incubator of innovative ideas, spearheadinglarge-scale strategy projects centered on growth opportunities, investmentprospects,acquisition targets and other high-level initiatives. SPG provides an alternativetotraditional consulting work, offering comparable challenges with a world-classcompany without the rigors of constant

travel.

HUMAN RESOURCE MANAGEMENT

The Human Resources team at American Express works in true partnership withour business clients. It provides service and support throughout the full spectrum oftheemployee experience, from selection, hiring and orientation, toleadershipdevelopment and talent management. It has the responsibility and opportunitytocommunicate messages about the company's global strategy, ensuring thatourprofessionals are placed in roles and environments where they - and our businessunits- will thrive. In short, work will be all about the extraordinary people whomakeAmerican Express one of the world's most recognized and respectedbrands.


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TECHNOLOGIES

The goal of our Technologies organization is to extend a competitive advantagewithcapabilities that support increased customer spending, company revenue andnet

income. Work in this area; focus on developing strategies and solutions fordeliveringan enhanced customer experience to all American Express card members. Itanalyze business systems, investigate emerging technologies, and makeeffectiverecommendations that will help bring new products to the market faster,exceed business partner expectations, validate investment decisions, and sustain aflexibleglobalorganization.


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SWOT ANALYSIS

STRENGTHS

Liberal economicsystem.Sound bank managements.Improved risk management.Diversity in bank fundingactivities.High systemicliquidity.Safety of depositors funds comes inpriority.Wide spread developed bankingculture.A healthy bankingsystem.Banking secrecy

laws.

WEAKNESS

Government financing by banks out of acceptablestandards.Very weak corporategovernance.Limitedbranches.

OPPORTUNITIES

Privatization creates ample opportunities for economicgrowth.Banking Over Borders extension to regionalcountries..

THREATS

Presence of nationalizedbanks.

Presence of foreignbanks.


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A STUDY ON THE CUSTOMER SATISFACTION LEVEL

OBJECTIVE OF STUDY

Customer satisfaction level from present Amex Services and to know otherservicescustomers expecting from AmexBank.

RESEARCH METHODOLOGY

MARKETING RESEARCH AND ITS METHODOLOGY:

A. Though Interacting with the Clients of AmexBank

B. QualitativeResearch

D.Questionnaires

E. Analysis andstatisticsStatisticsAnalysingDataSurveys withConfidence

SCOPE OF

REPORT

The scope of this report is limited up to services provided by Amex Bank not byother banks. These reports just show the level of customer satisfaction from AmexServicesand at the same time new product which customer is expecting fromAmex


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Sales

quality of service : 50%

customer interaction : 20%

interest rates & services : 5%

convinience : 10%

others: 15%


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Sa

q

ANALYSIS


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Table 3: Customers satisfied with the services of AMEX Bank

Sa

S


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Customers satisfied with the services of AMEX

Bank

Attributes No. of respondents Percentage

Satisfied 16 80%

Not satisfied 4 20%

Total 20 100%

ANALYSIS

This research was made on customer satisfaction of American Express bank.TheAmex is one of those banks who serve its customers in the best way and also givedueconsideration to its customer service. Maximum clients who have theirCorporateAccounts or individual Account with Amex are satisfied with its services.Amex provides all the modern services to itscustomer.

But there are also few customers who are not satisfied or expect more servicesfromthe bank.


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FINDINGS

Demand draft facility which is a basic customer satisfying service isnot

available in manycities.

Some customers feel that customer satisfying services should beimproved

however such group of customers was verysmall.

Few customers have confusion on charges that are charged on theiraccounts.

Maximum customers feel that the service & products provided by bankare

very good & they are satisfied with

it.

AMEX Bank provides quality services to their customers & customerschoose

bank on the basis of quality of services and customerinteraction.


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RECOMMENDATIONS

Need to improve on customer satisfying services, like; Demand Draftfacilityshould be available in allcities.

Need to improve on satisfying customer and handling their queries in asoundmanner.

Need to clarify customer for the charges that are being charged ontheiraccount withoutclarification.

Need to have a stabilized banking staff to co-ordinate with customer from

timetotime.


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CONCLUSION

American Express Bank provides different types of products & services tocustomers.The main objective of Bank is customer satisfaction, privacy & confidentiality.It provides quality services to their customers. Customer interaction is also goodin providing services. Maximum customers are satisfied with the services providedbythe Bank. The Amex is one of those banks who serve its customers in the bestwayand also give due consideration to its customer service. Maximum clients whohavetheir Corporate Accounts or individual Account with Amex are satisfied withitsservices. Amex provides all the modern services to itscustomer.


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BIBLIOGRAPHY

Philip Kotler 7thedition

Company Annual Report

Employee database

WEB SITES

www.americanexpress.co

mwww.google.com


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ANNEXURES

MARKET RESEARCH FORM

1. Name of Company:

Address (H.O)-

Phone No-

Fax-

Website-

2. Contact Person

Name

Designation-

Mobile-

E-

mail-

3. Business Details:

Description

Brand Name (if any)

4. Business Turnover (Yearly)

Rs.


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5. Do you have any Group A/Cs?

Yes

No

If yes, please specify name

.................................................................................................

6. Services availing from AMEX as of now?

Saving /Current A/C

Remittances

Draft Facilities

Foreign Exchange Services

Investment Products

Any Other Services

7 On what basis do you choose your bank? .

Quality of service

Customer Interaction

Interest rate & Charges

Convenience

Others(..)


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8. Is anything lacking in services? If yes please specify:

9. Are you satisfied with the services of Bank?

YES

NO

10. Would you like to give any Suggestion to Bank? If yes please

specify:

Yes

()

No

Date post:	07-Apr-2018
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