Blue print of foreign exchange center
Introduction of Blue Print
A service blueprint is a graphical or visual representation of the process involved in providing a service. The purpose of service blueprint is to provide a clear and objective understanding of the service process to all the people involved in providing the service. It is also a useful tool for examining the effectiveness of existing service processes and designing new or improved service processes. A service blueprint displays in one document various aspects of service such as sequence of operations performed by different service providers, the points of customer contacts, the roles of customers and employees, and the visual elements of service.
A typical service blueprint separates the total service operations in four categories of customer actions, onstage contact employees actions, back stage contact employees actions, and support actions. In addition it also list the elements of physical evidence to which the customer is subjected.
This Question and answer section does not provide facility to give diagrams in the answers, therefore it is not possible to provide a service blueprint for any service. I am only listing here some of the operations which may be included in a banks treasury operations
* Foreign exchange operations like buying and selling of foreign exchange.
* Money markets like placements.
The range of operations and the way these are performed differ from bank to bank. Therefore while drawing a service blueprint of treasury operations it will be necessary to ascertain the exact nature of the operations followed in the concerned bank
INTRODUCTION TO FOREIGN EXCHANGE
The foreign exchange (also known as the currency, forex or FX) market exists wherever one currency is traded for another. It is the largest and most liquid financial market in the world and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the Global Forex and related markets is currently almost US$ 4 trillion.
Blue Print Of Foreign Exchange center
Physical Evidence: includes the various components that help to determine the physical flow of the services from the point of start to the point of end. The entire things physically look at events. Such as
* Location center
* Customer executive
* Internet facility
* Money Exchange counter
* Money transfer counter
* Visual display
* Chair and facilities of drinking water
* Exchange form
* Enquiry counter
Customer contact components: Those components of services are visible to the customers.
* Firstly the enquiry counter
* Take and fill the form either to transform the money or to exchange the currency
* Form will be taken and filled by the customer executives that connect the physical evidence with the onstage activities.
* Then center provide the money transfer control number (MTCN) to the customers.
(ii) BACK STAGE
· Executives or employees check the daily transactions of transferring the money or exchanging the currency.
* They also check the amount received or given in a day.
* They also store and edit daily transaction for the backups.
* First customer do enquiries
* Then decide or analyze in which currency he/she want to transfer or exchange his money
* Then he take or fill the forms
* Then receive the MTCN no's
* Then share by the person to whom he want to transfer the money
Support Process: Those components of services that are not visible to the customers/participants.
* Check name , ID and MTCN number
* Double check