Reducing the cost, development and pricing of banking using targeted cost management technology

Abstract

The intensity of competition in the banking sector, globalization, the development of new information and communication technology has forced the banking sector to constantly search for new techniques to stay competitive and maintain market share, through the use of the targeted cost approach as one of the methods of managing the modern cost and a method of reducing the cost and improving the pricing of the banking service, and through its application in Rafidain Bank, where the Iraqi banking sector is one of the most advanced sectors The reduction should be done through the use of targeted cost technology and improving service pricing to ensure that the bank remains in the market and maintain its market share by attracting the target customers, by constantly developing its services, pricing the service as the customer can pay for it, and the study is based on the use of the descriptive analytical method, measuring information as well as using the statistical method to analyze and distribute the questionnaire list, Through research it was reached that there is the possibility of applying the targeted cost technology in Rafidain Bank in order to manage the cost in the bank and pricing according to this cost, and also found that the application of the targeted cost technology in the research sample Rafidain Bank leads to reduce cost and increase profits and then to improve pricing and attract customers and develop banking services. One of the most important recommendations of the research is the adoption of the target cost approach in the Rafidain Bank for cost management in it, due to the presence of components and capabilities for their application in this bank.