StraMaWorksheet 21 – Recommended Strategies

Name Ancheta, Martin, Obong, Pascua J., Pascua T. Date April 29, 2022
Section 3ALM

1. Recommended Strategies

Strategy (from your SWOT) Rationale

SO1. Include an around the clock customer
service in the BDO mobile app, providing human
chatbots and the like which will respond to
customer inquiries 24 hours a day.
Communication with the general public is one of
the most difficult tasks that banks undertake.
While many have sought to simplify their
language in order to attract a wider audience,
others, such as the BDO, have turned to
advanced technologies. As BDO has an effective
system to guarantee that complaints are
promptly investigated and resolved in a fair and
reasonable manner, the firm works to resolve
such complaints from seven to thirty days. The
said duration may extend the client's misery,
leading to a negative attitude against the firm.
Further, people hesitate to stand in long queues
and complete their banking operations due to
hectic schedules.

To cope with these struggles, the researchers

recommend implementing a human chat bot, a
computer program that is designed to generate a
conversation with a human being through the
BDO mobile application, to cut down on client
waiting time and paperwork, allowing the bank to
respond to customer inquiries more quickly and
deliver tailored services while saving time for
both workers and consumers. With the help of a
chatbot for banking, customers may use such to
execute any financial transaction via text or
speech without any difficulty. Chatbots may be
utilized to offer customers timely reminders and
regular notifications with regard to their bank
accounts.

Through this, chatbots are incredibly useful for

data analysis, fraud detection, and data capture.
It will provide a plethora of data and information
that can be utilized to better analyze customer
behavior and detect emerging risks and
opportunities as well as in keeping the consumers
informed about their accounts.

WT1. Invest on Customer Relationship Corporate governance in BDO pertains to

Management (CRM) Technology
customer related information
WO3. Create a Cyber-Security Management
Committee
to collect effective oversight, strict observance with
policies, and sustainable value creation to
promote the best interest of its various
stakeholders. However, in order to manage
customers and better understand their needs in
order to quickly provide the right solutions, the
researchers recommend creating a Customer
Relationship Management (CRM) Technology to
collect essential customer-related information.
The bank may categorize consumers, connect
with them on their preferred channels, and align
financial goals using CRM. The firm may better
anticipate customers' needs and engage with
them at the proper time throughout their
financial journey by employing a CRM to put
consumers at the center of the business. It can
also improve the effectiveness of the marketing
efforts. A CRM makes it easy to create reports
highlighting customer data points, engagement
channels, and product purchasing trends. With
this data, the marketing committee may identify
new ways to interact and provide each customer
with an informative, individualized marketing
journey. Furthermore, CRMs can boost bank
efficiency by reducing time-consuming
administrative activities, optimizing client
interactions, and keeping all departments
updated across the bank with just a few clicks.
CRM also increases sales, personalized customer
journeys, improves customer service, and
strengthens customer loyalty.
In January 2022, BDO was involved in a scandal
where massive bank accounts of their clients
were hacked. The hackers have illegally accessed
the online banking system to transfer the money
to a dummy bank account and include a series of
transfers in which the stolen money is moved to
the syndicate’s personal accounts. Recently, BSP
sanctions the firm for the December 2021
cybersecurity breach that victimized 700 BDO
clients.
With an alarming incident, the researchers
recommend an establishment of a Cyber-Security
Management Committee, which assesses data
breach incident response and recovery strategy,
including disclosure, investigation, remediation,

2. Recommended Organizational Strategies (if applicable)
Strategy (from your SWOT)
WO1. Evaluate and monitor competitor content
strategies
and post-breach security measures, is evaluated
by the committee. It will be in charge of
overseeing and understanding the Group's
cybersecurity risks, such as the possibility,
frequency, and severity of cyber-attacks and data
breaches. It also manages actions relating to
cyber security programs and top-level policies,
including privacy and security issues; and reviews
large cybersecurity investments and
expenditures, making recommendations as
needed.
This is to prevent further cyber-attacks from the
firm and maintain the accounts of its clients
secured and protected.
Rationale
Recently, the online poster ‘Do it
yourself’: Cybersecurity tip of Bank of the
Philippine Islands (BPI) for ATM withdrawal goes
viral. The bank was perceived to cast a “shade” at
2022 presidential bets who appeared in the
Manila Peninsula Press Conference on Easter
Sunday. On Facebook, the post has so far
received 12,000 comments, 239,000 likes and
reactions, and 125,000 shares. It also appeared
on the company's Twitter account, where it had
over 5,000 likes.
It deems there is a high level of competition in
online commerce. It is critical to know the rivals
inside and out to succeed. Competitor data is a
gold mine of information as the firm learns from
its victories and setbacks. In addition, Vice
President Guimayan stated that they were not
familiar with their rivals’ strategies. That being
said, the researchers would like to recommend
the firm an evaluation and monitoring of the
strategies of their competitors with regard to
content. The firm must make a list of their
competitors; review their rivals’ business core
and positioning; analyze key SEO metrics to
identify any potential content gaps; review their
on-site content; and turn the competitive content
analysis into action. The firm may also dive into

WO2. Invest in adopting fiber optic cable internet
WT1. Invest on Customer Relationship
Management (CRM) Technology to collect
customer related information
top-performing content pages and social media
content that can be good sources of content
inspiration.
With this, it is simple to locate the bank's
probable competitors' top-performing content
and weak spots and establish your competitive
edge by dividing the analysis down into steps.
As BDO ensured continues access to its products
and services, keeping almost all of its 1,542
branches open as the Bank adjusted branch
manpower requirements and operating
schedules (per government guidelines) so that
customers were well-served during the
pandemic, the researchers recommend the bank
to invest in adopting fiber optic cable. Study says
that despite satellite branches internet
connectivity, it was established that customers
queued for long periods due to system failure.
Adopting fiber optic cable internet will help
increase the speed of services delivery to
customers thus making connections efficient and
effective. This also helps the bank to store and
update data and information with speed and
convenience.
Corporate governance in BDO pertains to
effective oversight, strict observance with
policies, and sustainable value creation to
promote the best interest of its various
stakeholders. However, in order to manage
customers and better understand their needs in
order to quickly provide the right solutions, the
researchers recommend creating a Customer
Relationship Management (CRM) Technology to
collect essential customer-related information.
The bank may categorize consumers, connect
with them on their preferred channels, and align
financial goals using CRM. The firm may better
anticipate customers' needs and engage with
them at the proper time throughout their
financial journey by employing a CRM to put
consumers at the center of the business. It can
also improve the effectiveness of the marketing
efforts. A CRM makes it easy to create reports
highlighting customer data points, engagement
channels, and product purchasing trends. With
this data, the marketing committee may identify
new ways to interact and provide each customer
with an informative, individualized marketing
journey. Furthermore, CRMs can boost bank
efficiency by reducing time-consuming
administrative activities, optimizing client
interactions, and keeping all departments
updated across the bank with just a few clicks.
CRM also increases sales, personalized customer
journeys, improves customer service, and
strengthens customer loyalty.