1.0 Background of the Study
Family Bank (formerly Family Finance Building Society) was registered as a Building Society in October 1984 in Kenya, under the Building Societies Act and commenced operations in the early 1985. Family Bank converted into a fully-fledged bank in May 2007 and the main driver for our conversion was the need to offer a wider range of products and services to our customers. In addition, many cashiers in the banking industry have experienced a 50% drop in their workload in the last five years with the setting up of ATMs and other sophisticated banking technology facilities in urban, semi-urban, and rural bank branches (2009). This has also halved bank pressure and workload, minimizing role of cashiers and other support staff.
Moreover, with increase in number of ATMs, clients prefer the no-fuss cash withdrawals ATMs provide and know their latest banking transaction statements hassle-free. As a result, the cashier community in the banking industry is feeling threatened because of the machines are taking over their work. There are no hard international or government-compiled numbers totaling the complete number of ATMs in use worldwide. Estimations that were developed by several researches place the number of ATMs in use worldwide at over 1.5 million as of August 2006 (2008) Typically, an ATM placed in a public place has undergone extensive testing with both test money and computer systems that allow it to perform smooth transactions. ATM installations’ another advantage is that they create ample employment engagements for thousands of people aside from the handiness and reliability it provides to customers.
2.0 Statement of the Problem
A consumer headed to an ATM machine undeniably has only one thing in mind: to get cash. If an ATM machine is not working on that particular day (or worse, malfunctions in mid-transaction), that person will most likely go to another ATM machine to get the cash they need. Factors that make ATMs malfunction and what the merchant must do about it is imperative because aside from the bank losing the profit from that particular transaction, worse is the future lost transactions. The person is going to remember that particular ATM as the one that did not work, and will not even bother to make a transaction there next time.
The appropriate locations in setting up an ATM machine are beyond crucial. Convenience and reliability are the two words that must be incorporated in the minds of consumers when going to an ATM machine. ATMs must not only be placed near or inside the premises of banks, but also in locations such as grocery stores, gas stations, restaurants, shopping centers, airports, or any place large numbers of people may gather. Also, knowing the parameters to consider when locating an ATM will make the consumer even happier with the service rendered.
3.0 Objectives of the Study
The main purpose of this study is to analyze the several activities or events that jeopardizes effective transactions done through the ATM. This research, specifically, purports to determine how these activities affect people in coming back for service they want to have in the first place. Looking at the major manufacturers of ATM machines would help Family Bank in making the customers feel pampered and convenient in making transactions through their ATM. The Family Bank should expect from these ATM companies the exact same service someone would expect from anyone offering a product—competitive prices, service after the sale, technical assistance, and the ability to upgrade ( 2004). This research takes into account the practices that affect the monitoring of parameters when locating an ATM, recognizing the economic, social, and environmental obligation of the people.
4.0 Research Methodology
This study will use the descriptive type of research. A descriptive research intends to present facts concerning the nature and status of a situation, as it exists at the time of the study and to describe present conditions, events or systems based on the impressions or reactions of the respondents of the research (1994). It is also concerned with relationships and practices that exist, beliefs and processes that are ongoing, effects that are being felt, or trends that are developing (1970).
In this study, primary and secondary research will be both incorporated. The reason for this is to be able to provide adequate discussion for the readers that will help them understand more about the issue and the different variables that involve with it. The primary data for the study will be represented by the survey results that will be acquired from the respondents. On the other hand, the literature reviews to be presented in the second chapter of the study will represent the secondary data of the study.
The research will be presented in written form with the addition of data charts which will present the project’s results. Pie charts and network charts will be needed to illustrate some of the analyzed data. This cannot be confirmed, however, until the research data have been analyzed.
Credit:ivythesis.typepad.com
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