INNOVATION ACTIVITY IMPROVEMENTS FOR GHANA COMMERCIAL BANK

УДК 336.7

Yussif Eliasu
Banking specialist, Ghana

Анотація: Протягом століть наука служить для полегшення життя людей. У цьому дослідженні Комерційний банк Гани запропонував інноваційну діяльність, таку як автоматизований банкомат (ATM) та точка продажу.

Ключові слова: інноваційна діяльність, інноваційна діяльність, банківські інновації, депозитний банкомат.

Abstract: For centuries science serves for easing people’s life. In this study innovation activities, such as deposit Automated Teller Machine (ATM) and Point of Sales, are suggested to Ghana Commercial Bank.

Key words: innovation activity, innovation activity, banking innovations, deposit ATM.

Innovation is the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organizational method in business practices, workplace organization or external relations [1]. R&D contributes a lot into innovations. So therefore a survey was conducted to get the overviews knowledge of the clients about the innovation service in Ghana Commercial Bank. Also we used the results of research [2].

In this section of the studying is to adopt measures to develop modern methods of innovation management activities after the justification of the need for the Ghana Commercial Bank to improve upon their innovation activities, which will enhance their the service delivery so far as innovation is concern, long queue of customers for transaction in the Ghana commercial bank is one of the major concern of customers due to that most of the potential customers keep their monies in their home in other not to miss of buying time limited property or transact a particular business.

First of all for the ATM machines has been in Ghanaian banking industry for decades now still not eradicate queues in the banking hall, because it only give opportunity of withdrawal of cash from customers accounts which a customer have to reach 0.5 kilometers minimum and 3 kilometers maximum a customer have to deposit, first before possibility of withdrawal that still left clients no option than to move into the banking hall to queues to deposit which take some of the 20 minutes to an hour to deposit cash into customer accounts and still more education should be done so that customer can have full utilization of ATM machines as 21.1% still customers have no knowledge or have little knowledge about the ATM machines and apart from the withdrawal ATM machines most the customers are not aware of the deposit ATM machines because there are not available in the Ghana commercial bank which represent 92.5% customers, 60.8% customers said there are sufficient space in banking halls which means the bank is spending a lot of money for banking halls not only that the banking cannot open a new branch if they do not have a sizeable space which increase the cost of operations,64.8% customers prefer cash transaction than electronic cards as against 35.2% which prefer cards transaction in which out this customers 59.8% shop online.

If those in authority consider this most likely improvement will reduce queue in the banking halls, small halls can be use for banking as well and which will be cost effective to the bank, wide opportunity for bank to open many other branches.

Because issues of large hall become insignificant and education can go down well in the rural areas of the country, sometimes not how much a client earn but how much client can save.

Let’s consider the significance of deposit ATM as well as point of sales (tab. 1).

Table 1

Significance of deposit ATM

Benefits Description
Bank workers benefits Successful deposit automation deployments through recycling terminals can assist with sorting and denominating cash which make replenishments fasters, checking the fitness/quality of the notes, and providing large storage capacity
GCB can choose to introduce deposit automation only for the channels that handle either the fewest or the most deposits
However, GCB would be better-suited with a more integrated approach including not only remote deposit capture, but also check imaging at their entire fleet of ATMs and at their branches
Customer benefits For people who live in a different area of the country for making the leap to deposit automation when considering the benefits of deposit automation, it is important for GCB to look at a comprehensive approach for point of sales in all the regions
Consumer who cannot easily bank at a branch can scan their checks on their home computer scanners.
Deposit automation enabled ATMs can accept single or multiple check and cash deposit
Deposit Automation day. and pos are a plus for business and customers as well who deposit large volumes of cash and checks each
The mostconvenient way to offer this to consumers is through a selection under theonline banking service

This holistic approach will ensure a positive result for the customer, who will ultimately receive a more consistent experience and good service.

List of recommendations for successful implementation of deposit ATMs in GCB is represented below:

  1. GCB should take into consideration that deposit automation technology involves all check acceptance points;
  2. GCB should put an integrated solution in place. An integrated solution can include everything from remote deposit capture to check imaging at the ATM and teller. This approach will offer consumers consistency and elevate the confidence in their banking experiences;
  3. Appropriate check imaging hardware and software for all capture points;
  4. Check imaging and cash accepting hardware and software at the ATM, which will accept cash as well as checks, all inserted without an envelope;
  5. Through superior imaging, and character recognition, the cheques should be printed on the receipt along with the transaction details;
  6. Software that provides on-screen assistance during the ATM transaction. Robust, descriptive transaction screens are critical;
  7. Item-processing software that collects the data and the image of the deposited cheque and transmits the information to a central site where the cheque clearing process can begin;
  8. Education for both GCB staff and consumers;
  9. Acritical step for consumer adoption is first preparing and training GCB employees;
  10. These are the individuals who will interface directly with the consumer regarding this new functionality;
  11. Branch staff should first be trained on how to use the cash and cheque deposit modules through a “hands on” program at the branch. Once they are comfortable with deposit automation, they can effectively help consumers;
  12. The GCB’s goal for consumer education is to convey and reinforce the message that deposit automation delivers the same branded and interactive experience as a teller interaction;
  13. With a higher level of convenience and flexibility. Educating your consumer about the benefits of deposit automation helps to create awareness, interest and trial use;
  14. Integrating all of these components can be a challenge. Choosing a single provider with an intimate knowledge of deposit automation, from the physical components to implementation best-practices enables a bank to take full advantage of these technologies in the most cost-effective and efficient way possible;
  15. When all the pieces are brought together in a seamless operation, GCB have the advantage of reduced operating costs and increased customer satisfaction.

Deposit Automation [3] is a plus for business customers as well who deposit large volumes of cash and checks each day. Successful deposit automation deployments through recycling terminals can assist with sorting and denominating cash which make replenishments fasters, checking the fitness/quality of the notes, and providing large storage capacity

REFERENCES

  1. Oslo Manual: Guidelines for Collecting and Interpreting Innovation Data / OECD Publishing. – 3rd edition // OECD I Library.

  2. Asante-Gyabaah G. Electronic Banking in Ghana: A Case of GCB Bank Ltd / Gabriel Asante-Gyabaah // European Journal of Business and Management. – 2015. – Vol.7, No.12. – P. 239–256.

  3. Asare M. The Effects of Electronic Banking on Financial Services in Ghana / Matthew Asare, Jonathan Sakoe // Research Journal of Finance and Accounting. – 2015. – Vol.6, No. 16. – P. 147–154.

Науковий керівник

к.е.н., доц. Котлик А.В.