Essays on Examining the Influence of Entrepreneurship to Khan Bank and XacBank Case Study

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The paper "Examining the Influence of Entrepreneurship to Khan Bank and XacBank" is a perfect example of a business case study. Khan Bank is among the largest leading commercial banks in Mongolia, ranked best in “ Awards for Excellence” in 2006-2012, top 150 in international rankings (2003-2012) and “ Best Bank of the Year” (2004-2010) as well as Best in the “ global finance” 2003-2011. It also received the “ Excellence Award” from CSR among other achievements. Its mission is to improve and better the lives of the people in Mongolia and increase its market base locally and internationally, ensure efficiency and consistency in growth and performance.

With this, Khan Bank is among the globally competitive banks that have adapted full use of automated banking systems across all its branches and are a fully operational and a direct financial service provider to its base clients. It is estimated to have 500 branches, dominating 80% of the market. Khan Bank is a good example of an entrepreneurial business enterprise demonstrated by its achievements and position in the market. Despite the recent recession in global markets, Khan Bank can still withstand the growing demand and changing competitive business environment.

It is ranking in the market is not an entirely determining factor of its entrepreneurial character but the unique innovative structures and product development systems. Products in Khan include the current and savings account, Credit, VISA, Gold Cards, Electronic money transfer, Internet and Mobile banking services among others. Internet and mobile banking are among the products offered where customers make transactions at lower affordable prices, money transfer from account to account within the Bank accounts and loan payment at a client's own convenience.

Innovative technologies at Khan Bank have seen clients make foreign transactions and receive payroll information with a click. In addition, it is possible to meet deadlines on bill payments saving them time and energy from long queues. Technology has never been any better; the introduction of the electronic device which is more secure and easy to operate. The “ Vasco device” has seen the evolution of new experiences to the clients where security on individuals’ account information is no longer an issue.

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