My name is Jehan Rahiman, working to Nations Trust Bank PLC
in a capacity of Deputy Branch Manager at Katugastota Branch. I have started my
banking career as a Trainee Banking assistant in 2011 & gained working
experience for about 8 years in the banking sector. Currently I am overlooking
overall branch operations & guide my subordinates to achieve a set goal by
the organization.
Globalization in simple terms relates to integrity &
connection between communities, people, societies & countries which makes
the whole world a single unit which can be operated in a simple manner. When it
comes to banking & finance sector, globalization plays a main role to
deliver their products & services to the customers & stakeholders where
it needs to managed in a proper way. At Nations Trust, we do have overseas
branches & 94 branches all around the country which connects them into one
core system where people do their banking transactions through mobile &
online banking facilities no matter where in the world. This makes very
comfortable to the banker & the customer to perform their duties &
transactions in a smooth way which effects in real time.
A main effect of globalization which needs to be highlighted
in Banking & Finance sector is the Technological Innovation. Globalization
is a term that we can’t use without combining the technology nowadays (Peter
Mcmahon, 2010). According to Justin Kuepper (2019), due to technological
Innovation competition for developing new technologies & strategies has
been increased & it has made a direct impact on the efficiency on processes
which followed earlier. As an example, previously banks opened accounts only
under the same branch but due to the technological innovations has happened branches
are opening accounts under different branches where they can view all the
documents from the system from any branch which is easier & flexible. According
to Velocity global (February 8, 2019), globalization has improved peoples living
standards, increased creativity & Innovation, Lowered costs for goods &
services, granted easy access to Foreign culture & created a job mobility.
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Figure 1: Pete Detlef from 24hourtranslation.com
