School of Business (SB)

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Browsing School of Business (SB) by Subject "Absa Bank"
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    Examination of digital adoption by customers in Uganda commercial banks: a case study of Absa Bank, Kampala
    (Makerere University, 2021-09) Kafuuma, Gonzaga
    The study examined the digital adoption by customers in Absa Bank. The study was guided by three research objectives; to establish the level of digital banking services adopted by customers in Absa; to analyze factors hindering digital adoption among customers of Absa; and to design a strategic framework that can ease digital adoption in Absa Bank. A cross-sectional design was used to collect data from 62 respondents at Absa Bank who were selected randomly and purposively, and these included senior staff, middle workers and clients of the bank, using both quantitative and qualitative research methods of data collection, analysis and presentation. The study found that Absa Bank had a variety of digital banking platforms and equipment and these tools included Intelligent-Automated Teller Machines (iATMs) which use cards and Personal Identification Numbers (PIN) to access accounts and effect transactions. Other digital banking platforms included Internet banking, Mobile banking and WhatsApp banking. The study concluded that digital banking adoption has greatly improved the customer-bank relations, hence bringing about good organizational performance. This has led to improved customer and bank relations as the bank staff have more time to attend to customer needs, while the customer is now allowed the convenience to do transactions from any place, without necessarily having to go to a bank. The study recommended that in order to improve digital banking adoption, it is vital to sensitize customers on availability and use of the available digital banking platforms, the security measures that customers need to aware of and undertake to avoid loss of cash and data, as well as providing atms at point-of-sale machines and swipe; Another vital strategic framework is to use debit visa cards to use in transacting in order to minimise costs, space and time. This could help to eliminate contact between customer and banking staff as well exchanging cash money which may be an avenue for transmitting the deadly COVID-19 virus. It could also enable customers to transact with convenience, accessibility anywhere, effectively and reducing on time and space to improve customer experience and bank-customer relationships with a better competitive advantage in the modern banking industry.
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    Regulation, innovation and safeguarding customers: the case of Absa Bank - Know Your Customer
    (Makerere University, 2024-05) Akello, Sharon Emma
    The study assessed Know Your Customer (KYC) regulation for protecting customers at Absa Bank Uganda. KYC guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The study objectives The study assessed Know Your Customer (KYC) regulation for protecting customers at Absa Bank Uganda were: to assess the Know Your Customer regulation at Absa Bank Uganda; to identify the elements that contribute to customer weariness while adhering to Know Your Customer regulations; and to evaluate Absa's framework for client protection through the Know Your client initiative. The study adopted a convergent parallel research design using a quantitative and qualitative approach. The units of inquiry entailed the following: managing director, head of departments, supervisors and staff of Absa Bank Uganda. Quantitative data was analyzed using IBM SPSS Statistics Version 20.0 and qualitative data from interviews was sorted, coded and entered in Nvivo version 20 to generate themes. The study established that the regulation of KYC requires Ugandan national clients to present the national IDs validated through the national NIRA portal Non-Ugandan clients present the passport, refugee ID card, employment status, declaration of PEP status, and Tax Identification Number. KYC entails customer call backs and follow ups on customer transactions complaint, business registered name, certificate of incorporation and stock exchange registration to ensure due diligence at Absa bank Uganda. However, the following were the challenges: inaccurate information uploaded by customers, KYC systems failure to reach customer, inconsistent in completing customer requests and KYC system error at Absa Bank. Customer weariness involves use of comprehensive verification procedures, functionality of e-KYC system for customer interface, NIN verification and NIRA validation system for the national IDs for due diligence at Absa Bank. The study recommends that Absa should set guidelines to verify the client’s identity, customer identification program, ongoing monitoring during on boarding, customer transaction types, digitizing of banking system, review of financial and non-financial crime trends, evaluation of employment history, frequent checks on customer complaints and regular upgrading of KYC framework for due diligence