Background of The Problem
The research proposal gives focus and direction to a research project. It assists the researcher to think through the “what” and the “how” of the intended research. The proposal outlines what you will research and how you will research it.
Once the research topic has been approved, you are in a position to write up your research proposal. You will find that many of the areas in the research topic submission correspond with the subheadings required in the research proposal. This means that you may use the approved information from the topic, elaborate on it where necessary, and present it as your research proposal.
The Questions Related To The Research Activity Will Relate To The
What Types Of Fraud Are Happening In The Banking Sector In South Africa?
Why Are Customers Not Comfortable To Use Banking Technology?
How Are The Banks Addressing The Fraud Issue?
How Can Technology Be Used To Curb Fraud?
What Strategies Can Be Implemented To Reduce Fraud And Increase Customer Trust In Xyz’s Banking Systems?
XYZ bank has evolved around technology. They have implemented cellphone, ATM which enables them to perform different banking operations effectively and in a hassle-free manner. They moved away people from going to branches for many banking operations and to deposit the money or to withdraw them, which they can easily do with the help of the Automated Teller Machine or ATM and other functions can also be performed with the help of online banking. This is how it has reduced the number of lines in the bank (Writer 2020).
There are several problems in the banking sector of the South African banks in Johannesburg. Among all of them, the fraudulent activities in the banking sector leads to the development of mistrust among people. The other problems being the fee structure of the banking sector which is almost four times higher than other countries like India, Germany and so on. Moreover illiteracy among the people creates a lot of fear in themselves where they don’t trust cashless, Automatic Teller Machines (ATM), any other banking facilities (Bis.org 2020).
Researchers have recognized the fact that South Africa are not big in the formal banking sectors. High levels of unemployment and a poor education system with a high esteemed income inequality have plagued the economy of the South Africa. Financial inclusion faces a lot of problem since it has been noted that they are linked with the well-being of the society and therefore adoption, usage and sustainability of the financial services seemed to face a lot of challenges in the South Africa (Ferreira and Dickason-Koekemoer 2019).Higher level of fraud and past abuses lead to the development of mistrust among the local people and moreover there are huge financial cost related to the usage of the financial activities in banks as compared to the other countries and therefore it led to the hesitance in the approach towards the financial activities. People don’t trust and they fear the fraud in the ATM and internet or mobile banking and that is the reason they prefer to transact in cash. Banks in South Africa has seemed to be not meeting the requirements of the formal banking sector (City of Joburg 2020).
The Aim Of The Study Is To Identify The Impact Of Fraud In Xyz’s Banking System.
To identify the types of fraud happening in the South African banking sector
To investigate why customers are not comfortable using banking technology
To explore how banks are addressing the fraud issue
To identify how technology can be used to curb fraud
To recommend strategies that will reduce fraud in XYZ’s banking systems and increase trust to customers
The research will be focused at the heard quarters on two areas of XYZ bank located in the Johannesburg area. Employees with working experience above two years in the Information Technology, Customer Contact Centre, Operational risk and Control divisions as well as any other employee responsible of handling related information will be interviewed. In total the organisation in scope has approximately 600 employees working in the targeted divisions (Hargarter and Van Vuuren2019).
Employees that amounting to almost 450 people per day has become the sample size of the study. Non-probability sampling technique will be used in the form of convenience sampling.
Writer, S. (2020) High prices, fraud and four other reasons why South Africans don’t trust SA banks, Businesstech.co.za. Available at: https://businesstech.co.za/news/banking/173527/high-prices-fraud-and-four-other-reasons-why-south-africans-dont-trust-sa-banks/ (Accessed: 15 March 2020).
Writer, S. (2020) All the South African banks that have failed in the last 30 years, Businesstech.co.za. Available at: https://businesstech.co.za/news/banking/231009/all-the-south-african-banks-that-have-failed-in-the-past-30-years/ (Accessed: 15 March 2020).
City of Joburg, banks under cyber attack (2020). Available at: https://www.timeslive.co.za/news/south-africa/2019-10-25-city-of-joburg-banks-under-cyber-attack/ (Accessed: 15 March 2020).
Bis.org (2020). Available at: https://www.bis.org/review/r041231f.pdf (Accessed: 15 March 2020).
Ferreira, S. and Dickason-Koekemoer, Z., 2019. A conceptual model of operational risk events in the banking sector. Cogent Economics & Finance, (just-accepted), p.1706394.
Hargarter, A., and Van Vuuren, G. 2019. Measuring conduct risk in South African banks. Qualitative Research in Financial Markets.