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Knowledge-based automation and new workforce implementation at a financial institution

  • Authors: Elsworth, Catherine
  • Date: 2018
  • Subjects: Industrial revolution , Artificial intelligence , Banks and banking - Technological innovations , Banks and banking - Customer services , Knowledge management , Banks and banking - Information technology
  • Language: English
  • Type: Masters (Thesis)
  • Identifier: http://hdl.handle.net/10210/402839 , uj:33730
  • Description: Abstract : Intelligent Automation (IA) entails advanced knowledge-based technologies associated with the so-called Fourth Industrial Revolution (4IR). In this study, the phrase “IA journey” refers to the processes of knowledge-based automation and new workforce implementation. The study’s unit of analysis is not as much the IA journey itself, rather it is an analysis of what constitutes a balanced approach to IA implementation and adoption within an organisation. For example, employees’ feelings of uncertainty during an organisation’s IA journey could cause an imbalance in staff morale and resistance from employees to adapt to the changes. Therefore, the main research question of this study is: What are the components of a balanced approach to knowledge-based automation and new workforce implementation of a financial institution? The research question aligns to the world of service delivery that is changing at an alarming rate, with customers expecting fast, personalised, digital service. The landscape for financial institutions is changing, for example, traditional competitors are taking steps to meet customer demands and non-traditional competitors are entering the market place, threatening the existence of traditional financial institutions, commonly referred to as banks. The literature reveals that the evolution of Internet usage and the influence of social media and smart phones have increased the significance of technology and digital service in the financial services industry. Adoptions of these technologies is vital if traditional banks want to remain relevant in the market where financial technologies companies (Fintechs), and small, digitally nimble start-ups can provide the quick, personalised service that customers expect. Already many financial institutions have started to investigate the opportunities that technologies such as IA and chatbots provide. The potential of chatbot technology to improve customer experience and reduce operational costs make it an attractive option for organisations to consider. Literature reveals that the cost of implementation of this technology is a fraction of the cost of legacy system re-writes. The ability of this technology to integrate with existing systems and improve turnaround time and service to customers makes the IA journey a favourable choice. The IA journey of one South African Financial Institution (SAFI) formed the focus of this study. Research was conducted within the SAFI into the application of this technology across the organisation to understand the impact that the changes experienced had on the employees of the organisation. Understanding how these changes impact employees helps in determining the best ways to manage the changes in order to develop a balanced approach to implementation and adaption of IA within an organisation. The empirical study followed a qualitative research design, featuring qualitative data collection and analysis techniques. Secondary data were collected and displayed in order to show case v hoe IA project were implemented into the organisation. The philosophical paradigm that suited a study of this nature was interpretivism as the research was socially constructed in its aim to understand the adoption processes of the organisation implementing an IA programme. The research followed an inductive approach as the study’s conceptual framework was developed based on data collected and conclusions drawn through the analysis of this data. The study involved the collection of data through the use of interviews conducted across junior and senior management levels within the business units impacted by the changes associated with the IA journey. The aim of these interviews was to gain an understanding of employees’ perceptions of the IA journey across the organisation as well as understand the experiences of those involved in the IA programme. Secondary data was also collected from five SAFI use cases, which provided a rich source for quantitative data. The presentation of results regarding the outcomes of use cases implemented across the organisation is in accordance to the University of Johannesburg Code of Academic and Research Ethics. The research findings informed the development of a conceptual framework, which can be used to encourage a balanced approach towards IA implementation and adoption throughout an organisation that is experiencing major changes. This study reveals that employees’ fears of the changes need to be identified and managed early in order to avoid resistance to the changes and negative perceptions of the technology being created. The conceptual framework identifies the components that a financial institution can use in its balanced approach to increase adoption and reduce fears. Moreover, the study revealed the need for organisations to invest in technologies of the future and the benefits that this technology can have for the organisation. Customer experience and expectations form a vital part of any organisation and the lessons learnt in the value this technology can provide in creating a great customer experience are invaluable. The study revealed that there is a difference between digitisation and automation and that knowledge-based automation technology plays a key role in enabling a digital customer experience... , M.Phil. (Information Management)
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The role of internal auditing on information technology within the banking industry

  • Authors: Khanyile, Bridgette
  • Date: 2019
  • Subjects: Banks and banking - Technological innovations , Management information systems , Banks and banking - Information technology , Financial services industry
  • Language: English
  • Type: Masters (Thesis)
  • Identifier: http://hdl.handle.net/10210/420075 , uj:35751
  • Description: Abstract: The Information Technology (IT) is a complex system used to conduct and process banking transactions. As a consequence, banking relies heavily on IT. Since banking transactions take place on an IT driven system, the systems’ infrastructure and security become the bank’s core functions. However, IT does have its risks and challenges, such as confidentiality issues, security breaches, non-compliance with regularity and poor quality services. IT governance is a framework that ensures that an organisation’s IT infrastructure supports the achievement of its corporate objectives. In the banking industry, IT governance plays a vital role, especially in the internal auditing function. Internal auditors are mandated by the Institute of Internal Audit’s standards to provide reasonable and objective assurance regarding the proper functioning of IT departments. This study considers the role of the internal audit function in IT governance in the South African banking industry. The study also highlights the IT governance risks that exist in the banking industry in South Africa. This is achieved through an extensive literature review on the governance frameworks and recommended practices for effective governance as well as the role and responsibilities of internal auditors in reducing IT risks. The study used purposive sampling to examine the integrated annual reports of the major banks in South Africa. The findings show that the banks demonstrate sound internal control systems while their internal audit approach reflects the effective and efficient implementation of systems, with embedded risk management practices, to ensure risk reduction. , M.Com. (Computer Auditing)
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Customer adaptation to continuous technology changes in the banking sector

Influence of automated teller machine service quality on overall customer satisfaction in retail banking sector

  • Authors: Nndwamato, Mulalo
  • Date: 2018
  • Subjects: Automated tellers , Banks and banking - Customer services , Banks and banking - Technological innovations , Consumer satisfaction
  • Language: English
  • Type: Masters (Thesis)
  • Identifier: http://hdl.handle.net/10210/283120 , uj:30522
  • Description: M.Com. (Business Management) , Abstract: Automated teller machines (ATMs) have become the most used electronic banking channel around the world. Customers’ experience with ATMs has forced banks to come up with effective strategies to satisfy their customers. The service quality and customer satisfaction have become a focal point of the banks due to benefits such as increased profit, competitive advantage, market share, customer retention and word of mouth. This study aims to investigate a link in the quality of ATM service experience influencing customer satisfaction. Bank management should be able to identify and know all factors of customer experience with ATMs in order to have sustainable financial growth. This study provides valuable information to banks to improve the quality of ATM service, bank management need to understand the importance of providing quality services with regards to ATMs. This study adopted a quantitative technique using survey research strategy. Self-administered questionnaires were conveniently distributed to ATM users of ABSA, FNB, Standard Bank, Nedbank and Capitec in Johannesburg using non-probability sampling. A total of 168 questionnaires were collected and considered useful. The Statistical Package for Social Science program (SPSS) version 24 was used to analyse the data, the following statistical techniques were employed; mean, standard deviation, correlation analysis, exploratory factor analysis (EFA) and multiple regression analysis. EFA constructed 6 factors (Ease of use, Reliability, Convenience, TangiblesCL, Responsiveness and TangiblesLI). The findings from correlation analysis revealed a positive correlation between all ATM service quality dimensions and satisfaction. However, after conducting regression analysis, reliability and tangiblesLI were found to have a positive and significant influence on customer satisfaction with ATMs. It is therefore suggested that banks effectively implement strategies which will enhance quality of service at ATMs. This include ensuring that ATMs: always have cash; are in working condition; issue quality notes; provide accurate information; are safe to use; are serviced by reliable employees; are visually appealing with regards to design, and portray good brand image.
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Factors impacting the adoption of biometric authentication in the local banking sector

  • Authors: Pooe, Antonio
  • Date: 2014-02-05
  • Subjects: Biometric identifications , Banks and banking - Technological innovations
  • Type: Thesis
  • Identifier: uj:3631 , http://hdl.handle.net/10210/9009
  • Description: M.Tech. (Information technology) , This research is concerned with establishing the causes for the slow adoption of biometric authentication in the South African banking sector and constitutes exploratory research. It looks at the widely accepted means of authentication and delves deeper into why these modes may not be sufficient to protect sensitive data. The scope of the research is limited to the banking sector only. The first sections of the study establish what the biometric authentication norms are amongst international banking institutions. This is then followed by an environmental study of the South African approach-to biometric authentication. Owing to the limited number of banks in South Africa compared to developed countries, the study is limited to the four major banking institutions in.South Africa, namely ABSA, Standard Bank, Nedbank and First National Bank. An online survey was used to g·ather the required data for analysis. The general approach adopted to investigate the extent to which biometric authentication is used by the said four banks was to first measure the respondents' knowledge of biometrics and to establish the level of exposure the respondents had to the said technology. The next step was then to establish the extent to which the participating banks had investigated the use of biometric authentication. This was followed by consideration of the current use of biometric authentication and lastly, the future use and user perceptions regarding various aspects of biometric authentication in the financial services sector. A matrix that identifies the factors perceived to be impacting the adoption of biometric authentication concludes the last chapter on user perception.
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