IMPACT OF AUTOMATED TELLER MACHINE ON BANK CUSTOMER SATISFACTION NIGERIA BANKING INDUSTRY
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IMPACT OF AUTOMATED TELLER MACHINE ON BANK CUSTOMER SATISFACTION NIGERIA BANKING INDUSTRY
CHAPITER 1
Introduction
1.1 Background of the Study
Global efforts to enhance the banking industry have been sparked by the realisation that it plays a critical role in fostering economic growth and development.
With the convergence of computer and communications automation now defining the operation in the banking sector of the global economy, using information technology (IT) to improve banking services is one key field of investigation.
When it comes to banking, automation refers to the use of automatic machines and computer-based devices to perform banking tasks in a way that increases speed, accuracy, and capacity. Automation is the use of machines rather than people to do a job or industrial process.
Bankers can provide a wide range of services at a cheaper cost and closer proximity to their consumers thanks to automation. According to popular thinking, there are four ways that automation can benefit the banking industry:
To accomplish more work, a larger basis must be handled
To significantly lower the real cost of handling payments
Free the banks from the historical limitations of space and time.
Describe new goods and services.
The following examples of automation in the banking sector:
Automated clearing service for banks
Reader for magnetic ink characters
Payment method Delivery method
the information’s origin
Our focus will be on the automated teller machine as part of the payment system for the study’s objectives. when a payment system involves commercial transactions without the use of cash, checks, or any other type of paper-based payment method.
With the help of the automated teller machine (ATM), customers can access financial services without having to interact with bank employees.
Through instructions built into the equipment, the ratio is directed. A personal identification pin number that consumers provide and that must be disclosed to a third party allows users access to the ATM system.
Luther George Simjian created and constructed a mechanical cash dispenser, which is arguably an ATM, which the City Bank of New York installed in New York City in 1939.
However, the machine was removed after six months due to a lack of over 25 years later, Nutill, De ta Rue created the first electronic ATM, which was first installed in Enfield, Town in north London on June 27, 1967, by Barclays bank.
John Shepherd Barron received credit for this idea even though several other engineers at the time received patents for related technologies. Shepherd Barron received an OBE for the 2005 New Year. Reg Verney of the 1960s British television programme “on the buses” fame was the first person to use the device.
The original ATMs only accepted a single-use coupon that was kept on file by the machine. To make fraud more difficult, these utilised a variety of concepts, such as radiation and low-coercivity magnetism, which were erased by the card reader.
James Good buddy, a British engineer, created the concept for a pin store on the card in 1965.
STATEMENT OF THE PROBLEM
The following questions will have answers presented throughout this essay.
What is the historical context at this time
Why was ATM technology introduced
What impact does ATM have
Are there any issues with ATMs in the Nigerian banking sector
OBJECTIVES OF THE STUDY
The following will be the paper’s goals in light of the aforementioned query:
To talk about the origins of ATM
study the rationale behind the introduction of ATM
To emphasise the results ATM
should evaluate critically the issues ATMs are encountering when providing services.
SCOPE AND LIMITATIONS OF THE STUDY
In order to determine the impact of ATM introduction in Nigerian Banking Industry, this research examines the influence of ATM in banks service delivery.
RESULT ANALYSIS METHODS
Both primary and secondary sources of data are used in this study’s data collecting. the primary source, which contains data from the bank and answers to the distributed questionnaire. While newspapers, magazines, and yearly reports are considered secondary sources.
RESEARCH HYPOTHESIS
The following general hypothesis will be examined throughout the duration of this project:
Automated Teller Machines won’t improve the way Nigerian banks provide services.
Hi: Automated Teller Machines will improve the quality of service provided by Nigerian banks.
SIGNIFICANCE OF THE STUDY
The results of this survey will help bankers identify and address any issues their customers may have using ATMs. The client will also profit since they will understand the significance of the ATM. Since everyone has an account or uses a bank, the general public will also profit from this study.
Plans and structure
Introduction, study scope and limitations, problem statement, study objective, methodology, and study design are all included in chapter one.
whereas the literature review is covered in chapter 2. The methodology is covered in Chapter 3, the presentation and analysis of the data are covered in Chapter 4,
and the findings, summary, and conclusion are covered in Chapter 5, along with suggestions for additional research.
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