The paper "Convergence, Cross Promotion, Compliance, and Currency at Commonwealth Bank and National Australia Bank" is an amazing example of coursework on marketing. The recent global crisis has forced the banking sector to look towards ways to improve their functioning and ensure that failures reduce. Banks are looking to strengthen their reforms and monitoring system at the same time ensuring that they are able to satisfy the customer. Commonwealth Bank and National Australia Bank are in the banking sector and there is very little to choose among the banks as all of them offer similar products.
The only difference seen in banks is the manner in which they render services and some basic differences among their working. The report looks into the manner Commonwealth Bank and National Australia Bank differ on certain important characteristics. Purpose of the report To compare the different issues surrounding the Commonwealth Bank and National Australia Bank like convergence, cross-promotion, compliance, currency, corporate, and corporate responsibility. To identify the manner in which Commonwealth Bank and National Australia Bank satisfies the different factors and the way the bank manages these vital issues Commonwealth Bank & National Australia Bank Commonwealth Bank is an Australian bank and is ranked second among the banks performing in the country.
The bank is in the service sector has ensured quality in service. For this, the bank has a code of conduct which employees need to follow. (Company Website, 2010) National Australia Bank is the 17th largest bank and has its operation in 10 countries. The bank has been able to grow because of the wide variety of services it offers to the different customers like corporate, personal account customers and even the loan providers.
(National Australia Bank Website, 2010) Convergence in Commonwealth Bank& National Australia Bank Convergence is when two or more development is used together to improve the efficiency of the working environment. In the banking sense, it is when technology is integrated with service to ensure a higher satisfaction level. When we compare the convergence of both Commonwealth Bank and National Australia Bank we see that both the bank has been able to evolve integrate the technology to ensure that they are able to deliver proper services. When we look at National Australia Bank we see that customers can report for stolen cards, request cheques, use electronic transfer and similar other facilities.
(National Australia Bank Website, 2010) Commonwealth Bank also offers similar functions where their customers can transfer electronically, check their balances, request for checkbooks, and similar other functions. (Company Website, 2010) Thus there is every difference in the convergence between the Commonwealth Bank and National Australia Bank.