Significance Of Automatic Teller Machine To Enhancing Customer Relations In The Nigerian Banking Industry (A Case Study Of Diamond Bank Plc Ilorin)

Project and Seminar Material for Marketing

Significance Of Automatic Teller Machine To Enhancing Customer Relations In The Nigerian Banking Industry (A Case Study Of Diamond Bank Plc Ilorin)


Abstract


For any organization’s survival constant maintenance of customer relationship is vital. One of the modern ways of enhancing this effectiveness is the use of automatic taller machine other wise know as branchless banking.

Although the usage of this machine is too mechanical. For the purpose of collecting and secondary source of data collection was used. To this end, for any organization to maintain and facilitate effective customer relation in banking industry automatic teller machine adoption is the answer.


Chapter One


Introduction

1.1 Background to the Study

The company’s effort at prevailing among thousand of competitors is surrounded by a number of strategies. Among this strategy is effective customer relation customers are the centre-pieces of any production outfit is goods based or services based. If there are no customers either existing or prospective there will not be the needs for productive activities talk less of creativity, inventions or innovations.

For any company to succeed and survive in this dynamic and ever changing environment, it must confirm and adapt to the change in other to compete effectively. One of the changes in the environment is the improvement in information technology, among which is automatic teller machine (A.T.M) that reduce the stress of compulsory visitation to bank’s braches.

As someone said ‘‘a good marketer, particularly of financial services products must be conscious of good consumers relation with adequate consideration of consumers need so as to perfect the ways and means of satisfying such needs. in order to satisfy the needs of consumer without stressing them. (the customers) banks in the banking industry realized that effective distribution of service is the key ingredient to survival. Thus, lead to the introduction of A.T.M an accretion for automatic teller machine with the following features and benefits in other to maintain customer relationship and loyalty.

  1. Balance enquires through the A.T.M
  2. Printing of mini statement from the A.T.M
  3. Transfer within your related accounts
  4. You can withdraw as many time as you wish subject to the daily limit
  5. No charge on withdrawals through the A.T.M
  6. Availability of clean cash at all times without doubt, the adoption of A.T.M in banking industry will leads to maintenance of customer relationship which will in-turn leads to the following.
    • Enhancing repeat sales thereby increasing total revenue grossed by salesman.
    • A satisfied customer is a willing albeit unconscious but additional promotional tools for the sales man.

1.2 Statement of Problem

In any research work, certain problems are usually identified for the study to solve. It is the way a problem is identified that governs the ability of decision makers to search and identify appropriate solution.
In this regard, below are the studies.

  1. To identify the significance of automatic teller machine to enhancing customer relationship in banking industry.
  2. What attitude does prospective customers stand to have towards the usage of A.T.M (automatic teller machine)
  3. To identify same problems that confront customer in the application of A.T.M as well as the possible solution.
  4. To know the likely view of existing customer towards the application of A.T.M in banking industry.

1.3 Aims and Objectives

This research work will be useful for practical purpose, which shows the significance of A.T.M in enhancing customer relations in banking industry other aims of the study are.

  1. To examine the significance of automatic teller machines in enhancing customer relation in the banking industry.
  2. To highlight the likely benefit of automatic teller machine both to firms and customer of the banking industry.
  3. To carryout investigation on the effect of automatic teller machine as a tool for gaining more market in the banking industry.
  4. To know the effective of A.T.M as one of the strategies for combating competitor in the Nigeria banking industry.

1.4 Significance of the Study

Apart from the benefit that the researcher stands to gain, this study is also benefit to the following group (s)

  1. The research: This study is significant or beneficial to the researcher as it is one of the pre requisites or requirement for the awards of higher national diploma (HND) in marketing. Also it enriches the knowledge of the researcher through different consultations.
  2. The case study: The research work is equally of immense benefit to diamond bank plc in knowing the rational of adopting the techniques of using the A.T.M
  3. It is significant to all firms in banking industry. This is because virtually all firms in the industry. Need to adopt similar but related strategies regardless of the location and potentialities. Therefore, and recommendation in this study regards the significance of ATM in exchanging customer relation can be useful to all firms in the industry.
  4. It is equality of immense benefits to customer in order to know the likely benefit that could be derive through ATM. With ATM customer stress is reduce up to the bears minimum and ability to cash new notes without any changers.

1.5 Scope of the Study

Conceptually, this study is limited to the significance of automatic teller machine in enhancing customer relation in Nigeria Banking industry.

Geographically this study is expected to cover the areas where automatic teller machine is located as it can not be found present I every nooks and corner of the towns .

Industrially, this research work will be limited to banking industry with emphasis of diamond bank Plc, 95 one of the firms in the industry

Time scope –this study is expected to cover the period of writing these projects that is second semester 2005/2006 session.


1.6 Limitation and Constraints to the Study

Generally speaking, all areas of human Endeavour are characterized by some hindevonces a research work of this nature is therefore of no exception

During this study, the following are the inciting factors.

(a) Financial Constraints:

This stand as a big barrier as a lot of many were required in gathering relevant data which could have jeopardize the full success of this study. Yet, with the assistance of parents, family

(b) Time Factor:

This is another bottle neck to the study, because a lot of sacrifice has to be made due to the fast nature of school calendar coupled with assignments and other academic work. Only a small portion has to be scheduled for the work

(c) Official Secrecy:

The principal limitation encountered in this study is in respect of data collection, as different names were given to relevant data such as ‘‘top secret” confidential” untouchables” out of bound” e.t.c

Despite all the above stated limiting factors the researcher is of hope that, the research will achieve it’s arms aims and objective with been bias.


Chapter Five


Summary, Conclusion and Recommendation.

5.1 Summary of Findings.

The scope of this project has been limited on the significant or application of “A.T.M” in the banking industry and why they have been introduced into the banking system and the benefit the bank have derived from the use of “A.T.M”.

Our research and analysis on this topic has been from diamond bank of Nigeria plc being our case study.
The topic started by introducing some fact about the subject matter (ATM) the scope and objective of the study which relate to importance of “ATM” to banking industry as a whole.

The literature review focuses on “ATM” the important of ATM, the benefit of ATM and the shirt coming of “ATM”
Although a tremendous benefit is being achieved by the bank for the use of “ATM” as it has been making it possible for easy access to balance enquires transfer within related accounts and availability of clean cash at all time. A serious threat has been posed on the human manpower, not only in the banking sectors, but also in many other business organizations. And by this many of the available manpower that could still be employed to do some of those activities perfectly on which they have been rendered jobless.

However, regardless of what “ATM” application in the banking industry has caused to the employment of labour, those problem will be minimized if the management control is well organized and planned.


5.2 Conclusion

Conclusively, the researcher dice med it necessary to read the following opinion that.

The management of diamond bank should emback upon mire enlightenment campaign to educated the customer on the uses and important of ATM as you can see that the literacy or awareness, of ATM is still very low in Nigeria.

The management of diamond bank should have an engineering department, so that these engineers will be easily available when ever the machine develops a fault.

The management of ATM should endeavor to send some of their brilliant engineers for further training abroad to have mire knowledge about its technological development so that they may develop the skills of those engineers, to manufacture their own ATM in the future. And this will variably reduced the cost of importing “ATM” from abroad and the local purchase cost.

The federal government should provide a conducive environment for the development of technological skill e.g. by providing subsidiary and other incentive for the scientist. The federal government should also provide a serious punishment for all those who carry out a fraudulent activities on the “ATM”

Thus, the ATM has been an ideal machine capable of performing a large cash transaction respectively in a very short hours without getting tired unlike in the manual labour and by this diamond bank of Nigeria plc has been able to achieve it’s goal in the service.


5.3 Recommendations

There is the need to include customer’s specimen signature and passport in the card and ATM so as to prevent fraudulent activities.

There is also need to improve the data communication network for the bank or the banks to make electronic teller and funds transfer facilities available.

The management of diamond bank should make available together with ATM. A specializes machine that will raise alarm whenever a wrong data is imputed into the ATM. This will keep fraudster at bag. Bank should send their engineers in to training and retraining courses so as to keep them abreast of ATM technological development.
The government should provide conducive environment for development of manpower.

Finally, government should provide low guiding the of ATM so as to prevent illegal money transfer.


Significance Of Automatic Teller Machine To Enhancing Customer Relations In The Nigerian Banking Industry (A Case Study Of Diamond Bank Plc Ilorin)


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Significance Of Automatic Teller Machine To Enhancing Customer Relations In The Nigerian Banking Industry (A Case Study Of Diamond Bank Plc Ilorin)


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