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how to improve the secured transaction system and its impact on customer satisfaction to determine what should be done to secure the spot cash service.

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research proposal

  1. 1. Problem StatementXYBank Bangladesh ltd. Has recently created a service EASY WAYs TO SEND ANDRECEIVE REMITTANCE- Spot Cash Remittance Desk where a beneficiary can get easycash taka from their expatriate relatives. This service promises to facilitate sending moneyin Bangladehi Taka directly without any bank account.XY BANK currently has faced a fraudulent activity by using a fake ID. Though XYBANK use latest integrated software packages to facilitate their service process, there wasan attempt to withdraw money by showing fake voucher. In this case,on 22 January2012,the cashier found the documents were validated and signed by Forex incharge. Thetruth is beneficiary did not visit the spot spot cash desk and submitted the false foreignremittance cash receipt to the cash counter at the rush hour. He did the same thingrepeatedly at the same day. In this way he withdrew total BDT 290000 by using six fakespot cash voucher. They found that the given information is the same as the voucher usedin 12th January by Mr. Julius!Management desires information how to improve the secured transaction system and itsimpact on customer satisfaction to determine what should be done to secure the spot cashservice.Research Objectives:The purpose of this research is to discover the errors in the spot cash system. Specially, Iintend to identify the reason behind this fraudulent incident and without much hassle to 1
  2. 2. customer how we can improve the security. Taka Drawing Arrangement of the spot cashdesk is the important targets for investigation because they reveal:(1)How document validation process affect customer overall satisfaction and evaluate thebeneficiaries attitude towards XY BANK.(2)Which systems should be immediately improved to elevate the dishonest, indiscreet,hypocritical nature of people?Importance/Benefits:An extra ordinary response by the front desk officer at spot cash counter will preserve andenhance security and customer satisfaction. Hassle-free easy verification system willensure customer satisfaction and XY BANK reputation. Customer wants easy takadrawing system. High level of user satisfaction translates into positive word of mouthservice endorsement.This research has the potential for concerning to secured payment system and finding outthe weaknesses of remittance handling system of XY BANK. This study will explore theattitude and perception of customers towards services provided by XY BANK. It will alsoinvestigate key factors that influence to increase the inflow of remittances through officialchannels to meet our internal foreign exchange demand. Hence the subject matter of thisstudy is of extreme importanceResearch Design:Exploration: Qualitative. I will augment our knowledge by interviewing officers andbeneficiaries.To better understand and analyze the incident interviews will be taken asexpert opinion. The interviewees include- Md. Anisur Rahman, Senior Officer & System Administrator,FRSD, IBW, XY BANK,HO. 2
  3. 3. Md. Nurul Islam, Deputy Managing Director, International Banking WingMahmuda Sultana- foreign exchange inchargeI propose to develop an e-mail survey to remitter.Quiestionnaire Design:Some questions for this instrument will be based on the investigative questions accordingto that fraud incident and others drawn from the excecutive interviews. We anticipate amaximum of 10 questions . A new five point expectation scale will be designed. Acomment/ suggestions question will be included. Majority of the customers are fromDhanmondi branch as the incident happened in this branch.So the data collected may lackdiversification due to the customers limited experienceData AnalysisThe responses to the structured close-ended questions will be rated in percentages.The percentage of respondents for each alternative will be given and analysed. The datacollected will be analysed using the computer software known as Statistical Package forService Solution(SPSS)VideoVideo footage recorded by the CC camera of that day when the fraud incident happenedwill be investigated to know the client’s attitude.Visual analytics is an important part of a layered prevention approach to fraud andcompliance discovery.Case Study:A thorough study will be conducted based on the incident happened On 12th January 2012and 22nd January 2012. To enquire about these transactions, we will search the web page 3
  4. 4. by using the fake vouchers information. We will also collect the feedback from exchangehouse also. There will be an interview with front desk officers to investigate the case.Once the data that is going to be used for analysis has been identified, the next step isassigning that data or combination of data points to our visual entities. Lets begin with whatis most often captured during online remittance transactions: • Sender information including names, date of birth, address, email and phone • Funding source information such as credit card and bank account numbers • Recipient information such as name, address, phone and email address • Recipient disbursement information such as bank account numbers, cash pickup locations, identification presented and agent names. • eCommerce information such as IP addresses, cookie information or device ID fingerprinting information.All of the data contained in these five categories come together to form the infrastructurefor visual analytics.Results: Deliverables• Real-time authentication of receiver details• Faster problem resolution through efficient technology• Easy tracking of funds transferred•Transaction alerts confirming successful transfer and collection• Alerts reminding customers to transfer money• Find out the weaknesses in the whole drawing systemBudget1.Interviews tk 20002. Travel tk 10003. Communications tk 1200(Telephone, postage, etc.)4. Other (Equipment rental, tk 500etc.)TOTAL tk 4,700 4