PhD Graduate Aims to use Newly Acquired Knowledge to Help Grow the Banking Sector
Taking into consideration the ever evolving nature of the banking industry, Nedbank Retail’s KZN Regional General Manager, Dr Fayzel Omar, is confident his PhD in Business Administration will empower him with the knowledge he requires to keep abreast of the latest developments in the banking sector.
Omar, who has 27 years’ experience in the financial industry, said pursuing the doctorate had given him a great opportunity to do research into maximising retail bank branch profitability through world class customer service. He completed a comparative study (a Nedbank retail case study) the findings of which can be applied in the business strategies of banks.
‘The research was challenging and yet very interesting. I enjoyed the fact it was very relevant to the work I currently do and also how the insights from the research were highlighting the changing behaviour patterns in customers and the fundamental changes that retail banks need to make to remain relevant. It also helped shape my own thinking on strategic positioning for the future,’ said Omar.
He added that the academic journey towards obtaining his doctoral degree had been highly valuable.
‘I have seen the implementation of ground breaking initiatives in the financial services industry. The branch of the future, high tech, customer orientation, and retailing mind-set were all been discussed in my area of study. As leaders we do not only look for cost cutting measures to increase efficiencies and profitability but also the focus is on the right customer at the right price,’ said Omar.
He says business leaders need to empower themselves through education.
‘Education and keeping oneself relevant in an industry that is constantly changing is critical. The qualification will certainly enhance my marketability not only in my current industry but on a broader scale. The chance for exposure and opportunity to engage in both academic and business circles will grow and build confidence in me to explore future career avenues,’ he added.