S-Curve and New Technology Development in Banks

New Technology Development in Banks - Complete Controller

The S-Curve is traditional art used in a number of fields by start-ups and other companies, which focus on technology and innovation to produce products. The s-curve illustrates that newly introduced technologies seek issues to meet the user’s demands. Consequently, it develops gradually to attain those expectations.

The introduced technology takes a dominant place, and the previously introduced technologies go into a decline. The S-Curve determines the difficulties that firms can address in a technological life cycle. The technological advancements introduced in the following case aim to improve the current customer service system’s efficiency level within the banking industry. Check out America's Best Bookkeepers

From the banking industry perspective, the bank can use the small branch of Instagram to increase customer convenience and reduce the time consumption of customer service employees. The following system can also be used to omit unproductive activities, which can increase and enhance performance and save time and money.

It can increase the innovation and advanced technological system in the company’s operations. Furthermore, the small branch on social media can be used to conduct some advertising activities. Firms resort to advertisement and promotions by using various platforms of social media. Social media has become a great, cost-efficient way to market your company and brand. To market their products and services, organizations leverage social media usage, which is becoming an increasing trend. Firms can seek more traffic using this platform as compared to other advertising mediums, including print media, Television, and others. Check out America's Best Bookkeepers

A declining position is also examined in s-curve to maintain a technological innovation. The decline demonstrates that technological innovation can be postponed. Therefore, it is important that previous technology should be integrated with the new ones. The technology introduced by the bank in terms of small bank branches can be referred to as a mature technology, as today social media websites have many visitors, and it is used almost everywhere in the world. However, the following innovation in the company’s technological structure will decline if the company does not properly focus on updating this system and bringing consistent innovation.

The S-curve can be used to suggest possible improvements in processes and technologies for the progression. However, several problems can be addressed while initiating the technology. Within the context of the selected case, these setbacks can be in terms of improper information provided through the small branch, which could dissatisfy the customer and increase employees’ time consumption to provide service to each of the customers. Therefore, it is important that the information should be properly updated, and employees should use innovative advertisements to use the following system. Check out America's Best Bookkeepers

Time-based Process Map

Furthermore, it can also be used to implement technological improvements to enhance its productivity, and the management can generate higher sales and enhance the bank’s profitability and reputation in the market and in front of its customers. However, certain limitations can also be addressed with the application of S-Curve. Through the S-Curve, it can be demonstrated that a thin line between the beginning of technological improvements and the implementation phase can address certain issues for the management to implement the planning into practice. There is very little distinction between the implementation phase and the initiation phase. Therefore, the S-Curve is limited in managing the improvement expectations.

It has been determined that many of the employees are included in the communication to provide information to each customer.


Thus, it can be concluded from the above study that management can address technological improvement by employing the use of the small branch Instagram, which was mainly aimed to attract customer traffic through the social media website.

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