CUSTOMER PERCEPTION OF ATM SERVICES
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CUSTOMER PERCEPTION OF ATM SERVICES
Chapter One: Introduction and Background of the Study.
The advent of Automated Teller Machines, also known as ATMs, has had the greatest impact on company operations and activities in the banking industry in recent years.
An ATM enables a bank customer to do banking transactions from both his bank and other banks. In truth, it is a self-service, highly computerised cash dispensing machine that allows bank customers to perform various financial transactions such as withdrawals, account balance inquiries, account transfers, and more.
As a result, an ATM is described as an automatic bank note dispenser that uses an electronic device and computer software/hardware to accept payments at bank branches or off-site sales venues.LUTHER GEORGE SIMJAIN invented the concept of ATMs as we know them in 1936. A functioning prototype was created in 1969, and DOCUTEL (an American firm) and DON WETZEL received a patent for it in 1973.
The most functionally equivalent type to today’s was introduced in the United Kingdom in 1973. Nigeria joined the developed world in its adoption and use in 2005, thanks to the efforts of the Central Bank of Nigeria.
The advent of ATMs has significantly improved the convenience, speed, and volume of business transactions, providing relief to bank customers while also minimising the challenges of withdrawing cash in the banking hall.
Today, Nigerians from all walks of life use ATMs for a variety of services; it is no longer reserved for the upper classes in society; instead, you can see students, traders, and others using their debit cards and cash cards on the system (ATM) to make cash withdrawals, pay utility bills, and more.
MOBAREK (2007) identifies speed of operation and waiting time as key predictors of ATM service quality. One of the numerous improvements brought about by the introduction of money counting machines or automated teller machines (ATMs) was the reduction of burden and the ability to meet consumer demand.
This has eased the operations of many institutions, such as bank tellers counting money and manually logging cash deposits. MOUTINHO (1992) established that an ATM facility resulted in faster transactions and saved consumers’ time.
Despite the enormous influence ATMs have had on banking services, they are nonetheless plagued by numerous issues such as a faulty card, debiting an account without payment, and network failures. The concern is if banks understand how their ATM customers/users feel about these issues, which could be a dissatisfying aspect in utilising the ATM.
To provide solutions for any challenges that may emerge. Call on banks to constantly identify and understand their customers’ perceptions of ATM service quality in order to deliver a convenient service that maximises customer/user happiness. This study aims to investigate consumer perceptions of ATM services in the banking industry.
Statement of Research Problem
Banks in Nigeria, like other commercial organisations, provide a variety of services through ATMs to fulfil their clients’ financial needs. However, there are several issues with the research study.
It is unclear if clients will gain from using the machine and if they are satisfied with the ATM service.
This research study aims to address the following questions.
What benefits does the customer get from utilising the machine?
Are customers satisfied with ATM-based services?
Do customers file complaints about ATM service quality, and how are those complaints handled?
OBJECTIVE OF THE STUDY
The study’s aims are as follows.
To determine the benefits to customers from utilising the equipment.
Determine the level of happiness that clients obtain from utilising the equipment.
To gather client complaints concerning ATM service.
To learn how customer complaints are handled.
SCOPE OF THE STUDY:
This study’s limitations are based on both the population of interest and the sample size. As a result, the scope of this research includes chosen banks in Ugbowo, Benin City, Edo State. The banks are Intercontinental Bank, United Bank for Africa, and Oceanic Bank.
Significance of the Study
However, the need for this study stems from its academic and practical implications. The advantages include its significance to both the financial business and the academic world.
In terms of the Nigerian academic world, this study would serve to raise knowledge regarding customer perceptions of ATM-based services and support the creation of relevant literature in the banking industry.
This study will assist Nigerian banks in understanding their customers’ perceptions of their ATM services, which is relevant to the banking industry and will aid in their operations and improvement.
It will also assist banks in identifying marketing tactics that will help them gain a competitive advantage in today’s highly competitive industry.
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