Self Banking Units (SBU)
People’s Bank introduced Self Banking Units (SBU) along
with Digital Banking in place of traditional scenario of hybrid operation for
customers, operate their respective accounts with the Bank by present
themselves to a Branch counters to open, deposits, fund transfers, or getting
others services such as applying for internet banking, SMS banking, debit
cards, cheque books etc... Where, they used to stand in front of ATM only for
withdrawing cash. When this setup introduced in late 2016 several other competitive
banks had already in the business of Cash Deposit Machines (CDM). However, it
was experienced that they too never been able to attract our customers base
unless for adhoc deposit at request where beneficiary party maintain their
accounts with these competitive banks. Even though it is depositing cash or use
of CDM for depositing cash on the surface, real technological part had happened
in the background was Electronic Fund Transfers(EFT).
Therefore, in this paper it is intended to discuss
adoption to EFT rather than adoption to SBU, CDM, or Digital Banking because
potential and prime requirement of the
customer was remote depositing or transfer of bulk money to third party or
their own accounts at a late time of the day.
However, in addition to banking competitors, other potential set
competitors emerging in the market for Remote Deposition (RD), not only in Sri
Lanka but also in entire globe, which could have been identified as potential
threat to entire banking sector. They were none other than Telecom Operators (Telcos)
who are known threat in European Union, Africa and Eastern Asia.
Here in Sri Lanka in the given time only two Telcos were
operating and potentially gained some stake of the market, products namely were
EzCash and mCash where they have been able to compete with us who boasted for
biggest network of customer touch points.
Biggest advantage People’s Bank entertain at that time was these service
points operated all over the island even during the time of war and the amount
of customers counted on us for their fund transferring requirements not only by
the means of ability to transfer them into any corner of the country but also
reliability and swift transfers virtually happen within the same day. However,
the biggest disadvantage it of the scenario was the operating time, generally
bank had never gone beyond 8:00PM in the evening which had identified as the
maximum. Since it was located in the city of Borella, which have been famous
for huge traffic jams, customer convenience were very low for approaching the
location. Again it provided the facility to limited number of customers in neighboring
cities. With the presence of Telcos like EzyCash or mCash they too competed
with extended hours of operation and scattered serving points they had were
comparatively larger than entire banking sector. Where they transfer funds from
one mobile to another without having a bank account their EFT was preferred
mostly by lower class earners who only concerned about their requirement rather
than the way of operation.
How People’s Bank attracted customers for EFT
1. By the attraction of the Self Banking Units: Even though few other banks
operated SBUs prior to us, they did not focus on attraction where many people
fallen love with first impression. These colourful units were well attracted by
almost all sectors of the customers even though it had great criticism for
cheaper look which said to be not suitable for a bank mostly by our own staff
and unions. But User Experience (UX) shown it was otherwise. The
size,
number of machines at a point (2 ATMs, 1-2 CDMs, 1 Kiosk). In parallel, bank had been changed the
corporate colours and its logo. This was a radical change where most of our
internal parties started criticizing. However, management did not allow any
public criticism to staff. After gone
through Research Papers on Technology Acceptance Model(TAM), it seems easiest
way attracting customers these
developments would be introduction of
better user interface, vibrant euphoria at SBUs with our experience had
played a major role. .
2. Effective Marketing efforts in Parallel:
If bank let word of the mouth or attracting customers who travelled or
walked by these few units, it would not work where our competitors at that
point had more SBUs than ours will easily beat us. When these SBUs were in the
media, customers had been started to ask about when they could use these
facility. In videos usually use of the new technologies show very much easier
than real. Therefore, user’s enthusiasm towards this has enhanced even before
they really used them. Actually it did some physiological part changing the
mindset of the customers.
3. Deliberately Changing the Way of Operating: With introduction of SBUs all
customers waited at the counters for deposits were diverted to these SBUs where
well trained staff was at their help. Initially bank never let any customers
operating CDMs where with different level of cognitive ability it would result
big queues at SBUs where same would play a negative effect attracting potential
customers. At counters deposit slips were not available unless customers with
special needs insisted them, they were hidden behind. Since customers getting
their service done faster at their second or third visit they themselves
involved in the operation at will after experiencing the easiness of operation.
After 2-3 weeks customers for deposits never preferred counter operations ahead
of CDMs. Pilot CDM bank introduced needed the support of staff few months. With
introduction more units all over now UX have been increased and they no more
need help for CDMs. Towards the rapid UX
our competitors who operated CDMs also attributed where hardware used are same
and provided by same vendors while only User Interface was the different. After
introduction 100 units, it was ensured no more helped needed for 90% of the
customers while some foreign (other bank customers) only insisted for support.
However, still one agent there for support of the customer.
4. Bundle of Facilities Kiosk at SBUs loaded:
Paying utility bills, Internet Banking Facility, Phone reloads are few
widely used facilities out of many to name. Specialty here is customers with a
card can directly transfer funds or pay for services they wish using this touch
enable unit. Kiosk even reduced the queue
at the ATMs as it could use for balance inquiries. Bank had been able to reduce
losing customers for Telcos by providing reloads to their mobiles where even if
they used their facility to transfer funds, make sure customer would still
maintain their account with us as they could transfer their money to mobile.
5. Involvement of Specialized experts in different Areas: From beginning to end of
introducing these SBUs, staff involvement are only at supervision and testing
levels. Bank had identified experts in areas like interior/exterior designs,
vendor for ATM, CDM, Kiosk unit’s hardware, software & interfaces, new
background operation system like switching, etc make sure lesser number of
failures. In short number of parties involved into these project were divided
into many areas and let them handle their part effectively. Costs involved into
these developments were not considered much.
6. Effective Project Plan :
While one unit fully operated, few another locations were under
construction, when they are near finish staff of the are trained at operating
SBUs. When interior/exterior part is over, next teams (communications &
commissioning of hardware) are in business. When these things happening at two
three locations teams ended their parts are moving to next selected locations.
Once the model is identified operations went very smooth way. Frequent review meetings were held to make
every location looks operated at the same level.
7. Introduce Digital Banking along with SBUs : After SBUs have been able to gain
trendsetters place at the market even though some pioneers were in the
business, bank had introduced Digital Banking units coupled with SBUs. It would
identify as an extensions to these units.
8. Post implementation Reviews: After installation of every unit,
all the parties involved either from technological involvement or operational
involvement, got together and discussed what went wrong or right. Outcomes of
these meetings were automatically become inputs to next implementation.
Therefore, after each step, it was ensured that experience of previous attempt
was streamlined. Any ill efforts were addressed correctly.
Conclusion
In this effort it would quite evident that ‘intention’ of
the user had been changed in many possible ways. Either it was from TV
commercial or support of well trained staff, user’s impression to use of
technology had been changed. It has been discussed that it would play a major
role Fishbein & Ajzen, 1975 in
their paper about TRA. However, bank had effectively addressed it, even without
knowing about it. It was an unintentional adoption of TAM. Davis (1989)
discussed “The main purpose of TAM is to
present an approach to study the effects of external variables towards people’s
internal beliefs, attitudes, and intentions. TAM proposes the perceived ease of
use (PEOU) and perceived usefulness (PU) as the most important factors for
explicating technology acceptance”. All points are discussed above had
worked towards changing the attitude of the customer by changing their mindset
in different approaches.
In this effort there were many External Variables either
from negative perspective or positive perspective. However, they all
contributed towards the success of the project. They are user experience and
awareness of other banks, Telcos
involvement of the subject, where because of their radical approaches towards
EFT, banks had to innovate new ways of approaching it. Therefore, it also
contributed towards the success of the project. Other emerging technologies
such as use of touch phone and applications like facebook also intangibly
contributed towards TAM. For the success of those technologies countries
pioneering approach of introduction 3G/4G also contributed. There were huge
amount of criticism from staff and unions as well. It was experienced that with
the success of user’s feedback of these technologies their grief had fade away
merely. In fact now everyone has great enthusiasm about the project. Therefore,
this project could be considered one of the best for use cases for TAM.
