Self Service Technology and Customer Satisfaction in the Nigerian Online Sport Betting Industry

The eruption in technological innovation is felt in every industry of which the service industry is not exempted. This study examines the effect of SST on customer satisfaction among customers of the sport betting industry in a typical growing economy. Although extant literatures are replete with the effect of SST on customer satisfaction, empirical investigation on the nexus between e-service quality andcustomer satisfactions in the fast-growing sport betting sector is inchoate hence, earns the need for the research.  The main objective is to empirically investigate on the nexus between SST and customer satisfaction. To achieve this objective, a survey research was adopted, and unit of analysis represented online bettors in Anambra state. Quota sampling andquestionnaire was the sampling technique and research instrument respectively. A sample size of was drawn using cochran’s formula for unknown population. The internal consistency of the instrument was tested using Cronbach alpha coefficient test, with the entire variable above 0.70. The data was processed using SPSS version 23 and hypothesized nexus between SST and customer satisfaction analysed using multiple regression analysis. The finding revealed that accessibility, security and website design have a positive and significant effect on customer satisfaction while reliability showed a positive but non-significant relationship amongst online bettors in Anambra state. It was recommended that sport betting industry should ensure that their website layout is easily navigated and understood; that they should draw knowledge from banks and bear the data cost bettors incur in the process of betting. Finally, they should ensure a quick and prompt pay-out facility. Keywords: Self Service Technology, Customer Satisfaction, Online Sport Betting, Nigeria DOI: 10.7176/EJBM/12-8-01 Publication date:March 31st 202

Information Security Policy Development for Caribbean Financial Institutions

Governments of English-speaking Caribbean countries have begun to place greater emphasis on e-government to reduce bureaucratic inefficiencies and are encouraging, through legislation and other inducements, the expansion of e-commerce operations in order to enhance global competitiveness. This has expectedly led to a greater movement of data and with it information security risks. Information security managers continue to grapple with the difficulty of reengineering policies and standards to meet this new reality. Hence many Caribbean organizations have become more vulnerable to security risks that are initiated internally. This is of grave concern to the Financial Institutions of the Caribbean as they prepare to offer extended services in order to exploit the opportunities expected from the introduction of the Caribbean Single Market and Economy. In addition, these institutions attempt to increase their share of both remittances from the Caribbean Diaspora and foreign direct investments which also serve to exacerbate these issues. These organizations are less capable of stemming the tide of fraud through identity theft and by other means, which are on the rise globally. In most cases these acts are facilitated (inadvertently or deliberately) by the actions of insiders. This paper proposes an approach to the development of context-based information security policies for Caribbean Financial Institutions aimed at mitigating insider risks

Predicting retail banking customers’ attitude towards Internet banking services in South Africa

This paper investigates the predicators of retail banking customers’ attitude towards the adoption of Internet banking services in South Africa. This study extended the Technology Acceptance Model (TAM) by including trust, subjective norm and demographic variables, and presents an empirical validation in South Africa. The results suggest that perceived usefulness, perceived ease of use and trust have signifi cant positive relationships with attitude, while subjective norm has a relationship with attitude, albeit a moderate relationship. Consumers’ trust of the Internet banking system emerged as the strongest predicator of their attitude, while demographic variables were found to be weak and poor predictors of customers’ attitude. Moreover, the results indicated that, even though customers are sceptical of the Internet banking system, they intend to start using/continue using the service. The managerial implications of these findings on efforts aimed at increasing the adoption of Internet banking use among retail banking customers in South Africa and others operating in similar contexts are noted in this paper. This research also adds value to existing studies of Internet banking in South Africa. Moreover, it makes a contribution to the current literature on customers’ attitude towards Internet banking services, which is largely under-researched in South Africa.Key words: Internet banking, retail banking, attitude, technology acceptance model, SouthAfric

Drivers for Organizational Transformation A Case of Commercial Banks in Kenya

Purpose: The study sought to establish the factors that influence organizational transformation in commercial banks in Kenya. The study was guided by the following specific objectives:  To assess the extent to which changing customer preferences affect organizational transformation in the commercial banks in Kenya; To examine the extent to which competition affects organizational transformation in the commercial banks in Kenya; and To evaluate the extent to which technology affects organizational transformation in the commercial banks in Kenya Methods: A case study was used to undertake the current research. The population of interest in this study was all the commercial banks in Kenya, whose number stood at 44 as at 30th June 2011. A census was considered for the study owing to the fact the all the commercial banks have their offices strategically located within the Nairobi Central Business District and its environs. The study respondents from each of the banks were the heads of corporate planning or the equivalent. The survey method was used to collect data. The questionnaires were pilot tested on six randomly selected respondents before they were administered so as to ensure that the questionnaires were understood in their correct perspective, in order to meet the research objectives. The procedure that was used in collecting data was through distribution of the questionnaires by dropping and picking them from the respondents at their most convenient time that was agreeable to both parties. The data was analyzed by employing descriptive statistics such as percentages. For purposes of presentation, frequency tables, percentages, standard deviations and mean scores were used. Findings: The study findings show that the factors that influence organizational transformations are customer preferences, competition and technological changes. Keywords: Organizational Transformation; Commercial Banks; Technological Changes; Competition; Changing customer preference

Electronic Banking in Ghana: A Case of GCB Bank Ltd

The introductions of electronic banking products and services have changed the nature and way of financial service delivery to customers in Ghana. The purpose of this study is to gain an insight or a deep understanding into electronic banking products and services that customers subscribe to and to find out from both the bank and its customers perspective the benefits they enjoy and the challenges they are faced with whiles providing and accessing the facilities respectively. The methodology used to conduct this research consisted of questionnaires and interviews to collect data. Non-probability sampling which this research adopted and used provided a range of alternative techniques based on researchers’ subjective judgment. SPSS and Microsoft Excel were used for organizing, analyzing and interpreting the data collected. The population of interest was defined as retail customers of GCB Bank Ltd. The sample size for the study was 200 customers and 25 employees of GCB Bank Ltd. Data collection was conducted in four branches of GCB Bank Ltd in Kumasi. The study found out that ATM services were the most popular among users and constituted the main knowledge of customers as far electronic banking was concerned. It was followed by SMS or mobile banking. Similarly, that electronic banking was convenient and saves customers time was the major benefit for which reason most customers used the banks electronic products and currently persist. As a strategy, awareness of GCB electronic banking products and services is very essential to increase customer knowledge and usage since most of GCBs electronic banking products and services are new in Ghana and particularly to its customers. Effective presentations using all forms of media advertising such as leaflets, brochures, web pages etc will be useful to introduce the products and services to its customers and a wider audience. Finally, a high quality internet infrastructure and other systems support services and IT infrastructure should be provided by GCB since it is one of the primary requirements for electronic banking. Keywords: E-banking, Internet banking, ATM, SMS, PO

A Review on various E-business and M-business models & Research Opportunities

A business model is a set of process/activities that results in sustainable profit through desired revenue and customer value. The business model spells out how a company makes money by specifying its position in the value chain. A business model which uses electronic communication technology such as internet for exchanging information is called e-business model. The e-business model includes the roles and relationships among a firm's customers, allies, and suppliers; the major flows of product, services, information, and money; and the major benefits to the participants. This paper contains review on various business models used in e-business, m-business, and m banking. All the major E-commerce business models which fall under 3 main categories : B2B - Business to business, B2C - Business to consumer, C2C - Consumer to consumer are also discussed with their benefits and limitations. Based on business model framework, various research agenda and opportunities are identified and elaborated

Drivers for Adoption of Retail Banking Strategies in Kenya

The Purpose of this study was to investigate the factors that influence the adoption of retail banking strategies in Kenya. The specific objectives of the study were: to examine the extent to which changing customer preferences affect adoption of retail banking strategies in Kenya; to  assess the extent to which competition affects adoption of retail banking strategies in Kenya; to evaluate the extent to which technology affects adoption of retail banking strategies in Kenya. A descriptive design was used to undertake the current research. The population of interest in this study was all commercial banks in Kenya. According to the Central Bank of Kenya report as at 31st December 2010, there were 42 commercial banks in Kenya. A representative sample of 21 commercial banks, representing about 50% of the whole population was selected using stratified random sampling technique. Primary data was collected with the aid of a semi-structured questionnaire. The researcher personally collected the questionnaires. In addition, personal interviews were conducted with 6 of the respondents selected at random. For purposes of the current study, the data was analyzed by employing descriptive statistics such as frequencies, mean scores and standard deviations. The findings of the study indicate that customer preferences influenced the adoption of retail banking strategies. Specifically, customer preferences influenced adoption of the following practices, in order of strength:- reduction of minimum balances to open and maintain account; product diversification; market differentiation; and availability of a personal banker in the branches. Ranked the least was installation of Automated Teller Machines. The findings of the study further indicate that competition influenced the adoption of retail banking strategies. Specifically, competition influenced adoption of the following practices, in order of strength: - product diversification; market differentiation; increased branch network; and reduction of minimum balances to open and maintain account. The least ranked activities were personal selling of bank products and offering bank products online. Further, the findings indicate that Technological changes influenced the adoption of retail banking strategies. Specifically, technological changes influenced adoption of the following practices, in order of strength: - offering bank products online; installation of Automated Teller Machines; and product diversification. In conclusion, changes in customer preferences have also imposed changes in decisions related to offered services, as these services need to be of high quality in order to satisfy today’s demanding clients. The perceived value of the products and services of banks must be proportional to the prices charged while distribution means should be used in order to achieve a high level of satisfaction. Competition has influenced the strategic importance of satisfaction, quality and consequently loyalty, in the battle for winning consumer preferences and maintaining sustainable competitive advantages. Great attention is paid to all the bank-customer touch-points, aiming to optimize the interaction, towards affecting specific customer behavior variables. The use of information technology in retail banking creates unprecedented opportunities for the banks in the ways they organize financial product development, delivery, and marketing via the Internet. Keywords: Retail banking strategies, Changing customer preferences, Competition, Technolog

Factors that Influence Organizational Transformation: A Case of Life Insurance Companies in Kenya

Aims: The general objective of the study was to establish the factors that influence organizational transformation in Life Insurance Companies in Kenya. The specific objectives of the study were; to determine the effect of changing customer preferences on organizational transformation in the life insurance industry in Kenya, to determine the effect of competition on organizational transformation in the life insurance industry in Kenya and to determine the effect of technology on organizational transformation in the life insurance industry in Kenya.Metrology: A case study design was used to undertake the study focusing on the Life Insurance Sector, which comprises of six companies. A convenience sampling design was used to select the three respondents from each organization. The three were selected to meet the following criteria:- The Chief Executive Officer was meant to provide information on the strategic direction of their respective organizations; the marketing manager was selected in order to provide information on competition and changing customer preferences with respect to their organizations; and the Information Technology manager was selected in order to provide information on changes in information technology and their influence on organizational transformation. Survey method was used to collect primary data, a semi-structured questionnaire being the main data collection tool. The researcher used the questionnaire with open questions, aimed at meeting the objectives of the study. Primary data were analyzed by employing descriptive statistics such as frequency distributions and percentages. Statistical Package for Social Sciences (SPSS) was used as an aid in the analysis. Results: The findings indicate that the factors that were greatly influenced by changing customer preferences were: product diversification, market differentiation, personal selling, offering products and services online; and establishment of customer care desks/centers. The findings also show that competition in the insurance industry has resulted to the organizations adopting product diversification, personal selling, increased branch networks, establishment of customers care desks/centers and reduction of premiums costs and related charges. Further, the findings show that technological changes had greatly influenced adoption of product diversification, personal selling, offering products and services online, increased branch networks and reduction of related charges. Keywords: Organizational transformation; Life insurance companies; changing customer preferences; competition technolog

The impact of information and communication technology on banks‟ performance and customer service delivery in the banking industry

Information and communication technology (ICT) has become the heart of banking sector, while banking industry is the heart of every robust economy. If it collapses so will the economy. This is absolutely evident from current recession in European banks crises, and in turn. The effect of globalization, competition and innovation in the banking industry by its providers to offer their services makes essential the understanding of how various aspects of consumer behaviour affect the innovation and respond to customer service delivery. Within this context this paper has considered a critical literature review of previous researchers with the objective to examine the impact of Information and Communication Technology on banks performance and customer service delivery. This paper also makes of a critical review of peer reviewed, scholarly and organizational literature regarding the impact of ICT on banks’ performance to examine if banks have successfully achieved effective customer’s service delivery, by providing high level of c us t o me r service through online delivery channel, besides operating cost minimization and revenue maximization.peer-reviewe