AUTOMATED TELLER MACHINE (ATM) AND ORGANIZATIONAL PERFORMANCE A STUDY OF SELECTED BANKS IN PORT HARCOURT RIVERS STATE.
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AUTOMATED
TELLER MACHINE (ATM) AND ORGANIZATIONAL PERFORMANCE
A
STUDY OF SELECTED BANKS IN PORT HARCOURT RIVERS STATE.
ABSTRACT
This research work addresses the problem of
automated teller machine (ATM) and organizational performance. The study was
carried out on selected banks in Port Harcourt. The automated teller machine,
which has been in use for over 25 years, in several countries, today is not
used only dispensing (paying out) cash, but also to checks account balances,
transfer money between account make deposits and other routine transaction. The
main objective of this study is to find out if the use of ATM influences
organization performance in the banking sector. The survey research design was
used for the study and the primary and secondary sources of data collection
were used. Fifty (50) staff of the selected organization was randomly selected
and they served as respondents for the study. Simple arithmetic percentage and
tabular analysis were among the data analysis techniques used. Based on the
responses and results of our analysis, the use of ATM helps the decongestion of
banking halls, save time for both the customers and staff of the banks to face
more pressing issues, create an atmosphere of credibility. The researcher
hereby recommends that the use of the ATM should be made safer for users (the
present standard of the sophisticated criminals) with complementary protective
counter measures added. Example biometrics, bar code scanning and close circuit
TV, etc.
TABLE OF CONTENTS
Title page i
Declaration ii
Certification iii
Dedication iv
Acknowledgment v
Abstract vi
CHAPTER
ONE: INTRODUCTION
1.1 Background
of the study 1
1.2 Statement
of the problem 3
1.3 Objectives
of the study 4
1.4 Research
questions 5
1.5 Significance
of the study 5
1.6 Scope
and limitation of the study 6
1.7 Definition
of terms 7
1.8 Organization
of the study 8
CHAPTER
TWO: LITERATURE REVIEW
2.1 customer
response to ATM services 10
2.2 commercial
banking transformed by computer technology
11
2.3 ATM
and the law 11
2.4 liability
of ATM related assaults 13
2.5 historic
sources of liability 14
2.6 current
application 15
2.7 ATM
surcharging 15
2.8 ATM
surcharge and effect 18
2.9 ATM
and physical security 19
2.10 A
growing target 21
2.11 types
of attack 22
2.12 best
practice security 23
CHAPTER
THREE
3.1 Introduction 48
3.2 Research
design 48
3.3 Population,
sampling procedure and sampling size
Determination 49
3.4 Sources
of data collection 51
3.5 Instrumentation 52
3.6 Data
analysis technique 52
CHAPTER
FOUR
4.0 Introduction 54
4.1 Data
presentation and analysis 54
4.2 Questionnaire
distribution and retrieval 55
4.3 Presentation
of data in tables 56
CHAPTER
FIVE
5.0 Introduction 74
5.1 Discussion
for findings 74
5.2 Conclusion 76
5.3 Recommendations 77
References 78
CHAPTER ONE
1.0
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The
use of the Automated Teller Machine (ATM) is not a new technology. This has
been in use in most developed countries many years back, (for about twenty-five
years ago). This banking reform brought the uses of ATMs to the doorstep of
Nigeria banking sub-sector. The use of these cash dispensers wherever they are
banking used in any country is always a win-win situation both for the banks
offering the services and the customers that make use of the machines.
The
spread of the machine is the deployment of financial services is a technology
that cannot be ignored since the consolidation of the banking sub-sector. As a
today, over 8,000 ATMs have already been deployed by the bank through the Inter
–switch network in the last five (5) years, making Nigeria one of the fastest
growing ATM market in Africa.
According
to Femi Oyesanya (October, 28, 2007) in his recent article in a Nigeria
Newspaper quoted the Director General of Nigeria Information Technology
Development Agency (NITDA) as announcing that NITDA in partnership with a
private businesses will be over-seeing the installation of ATM machines at
various locations in Nigeria.
Over
100,000 ATMs installed and operating in the USA, France, Holland, Germany,
Austria and the Czech Republic to mention a few. These however owned and
operated by unions. In 1996, a major change occurred that led to the formation
of ATM machine.com the network of cirrus, the network of MasterCard and Plus,
the network of visa, both lifted their bans on anyone with a retail location could
own and operate an ATM.
Interestingly,
Automated Teller Machine are found in most convenience stores, restaurants,
shopping malls, hotels, petrol stations, parks, hostels, markets and many other
locations even churches, and individuals can freely have access to their
various accounts.
Today,
with ATM, customers make deposits, obtain cash from checking or saving
accounting, pay bills, transfer money between accounts and do other routine
transactions as they would at a bank teller window. Automated Teller Machine (ATM)
does much than dispense cash in preset increments. Some ATM machines cash
cheque to the penny, accept envelop free deposits, and print monthly statements
for mortgage, brokerage, or regular banking accounts. Some banks also in US
have programmed their machines to services available on the banks internet web
site, effectively duplicating the banking web site on the ATM display screen.
Despite
the above limelight of ATM, bank failures and merger activity have contributed
to employment declines; however, computer technology, in the form of ATMs may
have contributed as well.
1.2 STATEMENT OF THE PROBLEM
The
Automated Teller Machine (ATM) has assured strategic importance throughout the
world as the main instrument used by commercial banks to pay our cash of
limited amount to its customers. This had led to significant impact/benefits on
economic and financial activities worldwide.
However,
the industry watchers are concerned by the inefficient development of funds by
the banks in the setting up of ATM networks. According to the industries
sources, the bank are not utilizing the opportunities thrown up for
collaboration which may lower deployment and branding cost.
1.3 OBJECTIVES OF THE STUDY
The
main objectives of the research work are as follows:
i. To
examine if the use of ATM has led to the decongestion of the banking halls.
ii. To
investigate if the use of the ATM aids both the customers and the banking staff
time to face more pressing issues.
iii. To
ascertain if ATM creates an atmosphere of credibility.
iv. To
investigate if ATM saves both the banks and its customers money since
withdrawal/cheque slips are hardly used.
1.4 RESEARCH QUESTIONS
The
research is aimed at findings answer to the following questions.
1. Has the
use of the ATM led the decongestion of the banking halls?
2. Has the
use of the ATM aided the customers and staff of banks time to face more
pressing issues?
3. Has the
use of the ATM created atmosphere of credibility between the customers and the
bankers?
4. Does
the use of the ATM save both the customers and the banker’s money since
withdrawals lips and cheques are hardly used?
1.5 SIGNIFICANCE OF THE STUDY
One
major importance of the study is to look at the arrears of unavailability of
small denomination notes dispensed at the ATM machines (example N20, N50,N100)
etc.
It
is also the strong desire of the researcher to carry out an objectives inquiry
so as to come out with appropriate recommendations on ATMs and physical
security attacks increasing globally.
Finally,
the research will equally assist in finding out why incessant poor networking
on ATM machines, especially for many people who are traveling, without their
pas booklets or cheques slip, rendering many helplessly on the road.
1.6 SCOPE AND LIMITATION OF THE STUDY
The
study will be based on selected banks in Port Harcourt metropolis. The research
study did not go without some teething problem that one way or the other
affected the quality of the study.
The
major hindrance was the reluctance of the banks to release necessary data that
would have facilitated the smooth research work.
Time
constrains also affects the research study because it was not easy for the
researcher to combine the study work with academic and non- academic activities
simultaneously.
1.7 DEFINITIONS OF TERMS
The
following terms are used in this project with meaning specified.
ATM
An
automated teller machine (ATM) is a computerized telecommunication device that
provides the customers of a financial institution with access to financial
transactions in a public space without the need for a human clerk or bank
teller.
Branding Cost
The
cost of reforming a product image, so as to stand competition among others
products.
Consolidation
Two
or more firms combine/merge for greater efficiency or productivity.
Collaboration
Work
intellectual nature together to achieve common objectives/goals.
Decongestion
To
clear a group of people (crowd)
Dispense
To
paid out from a computerized machine.
Performance
This
is the level of efficiency of a machine employee in an organization in carrying
out his or her duties/productivity to achieve organizational goals.
1.8 ORGANIZATION OF THE STUDY
This
project is divided into five chapters. Chapter one is the background of the
study with different segments: statement of the problem, objectives of the
study, research questions, significance of the study, scope and limitation of
the study and organization of the study.
Chapter
two, literature review which deals with the different/various sources of
materials that aid the project work, the books, magazines, newspapers,
journals, and theses written and published by various authors that could be of
great importance to this research work.
Chapter
three primarily consists of research design, population, sampling and sampling
size determination, sources of data collection, instrumentation and data
analysis techniques.
Chapter
four, this chapter analyses and interprets the data collection from
respondents.
Chapter
five, this of course of the finally chapter, which discusses the summary of
findings, conclusions recommendations from the researcher work.
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