Customer loyalty programmes in the South African banking sector
- Authors: Mashau, Mulanga Lawrence
- Date: 2020
- Subjects: Banks and banking -- South Africa , Customer loyalty programs -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: http://hdl.handle.net/10948/48883 , vital:41167
- Description: This treatise explores factors that drive customer participation in banking loyalty programmes in South Africa. The literature review conducted revealed research is required in this area. The lack of research in this field led to the formulation of the problem statement for the study, which focuses on critical factors that drive customer participation in banking loyalty programmes in South Africa. There have been numerous studies conducted on customer loyalty as a concept. There is, however, a lack of studies on customer loyalty in banking loyalty programmes. The literature review explored definitions of customer loyalty, how they pertain to loyalty programmes, with attitudes and behaviours identified as customer loyalty intermediate factors. This study has approached the assessment of customer loyalty in the banking loyalty programmes by exploring the factors that influence or drive customer participation in loyalty programmes in South Africa. The study was conducted using exploratory factor analysis of loyalty programme measurement items that evaluated attitudes and behaviours related to customer loyalty. The factor analysis was undertaken using data gathered from a self-administered online questionnaire. This treatise is part of a bigger study of loyalty programmes and customer loyalty in different sectors. The sample for this study was randomly selected using snowball and convenience sampling. A sample size of n=613 was used in this study. As part of the data analysis, descriptive statistics were used to compress and organise the sample data. Inferential statistics were used to project the findings of the sample data to the full population. The study concluded that flexibility in the context of rewards not expiring was the most important factor that consumers considered when deciding to participate in a banking loyalty programme. This was followed by reward type. The study revealed that banking loyalty programme customers prefer monetary rewards over all reward types for participation in banking loyalty programmes and thus reward type is deemed as a critical factor in customers’ decisions to participate in banking loyalty programmes. The study also found that banking loyalty programme customers do not perceive reward programme communication methods as an important factor influencing their decision to participate in a banking loyalty programme.
- Full Text:
- Date Issued: 2020
- Authors: Mashau, Mulanga Lawrence
- Date: 2020
- Subjects: Banks and banking -- South Africa , Customer loyalty programs -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: http://hdl.handle.net/10948/48883 , vital:41167
- Description: This treatise explores factors that drive customer participation in banking loyalty programmes in South Africa. The literature review conducted revealed research is required in this area. The lack of research in this field led to the formulation of the problem statement for the study, which focuses on critical factors that drive customer participation in banking loyalty programmes in South Africa. There have been numerous studies conducted on customer loyalty as a concept. There is, however, a lack of studies on customer loyalty in banking loyalty programmes. The literature review explored definitions of customer loyalty, how they pertain to loyalty programmes, with attitudes and behaviours identified as customer loyalty intermediate factors. This study has approached the assessment of customer loyalty in the banking loyalty programmes by exploring the factors that influence or drive customer participation in loyalty programmes in South Africa. The study was conducted using exploratory factor analysis of loyalty programme measurement items that evaluated attitudes and behaviours related to customer loyalty. The factor analysis was undertaken using data gathered from a self-administered online questionnaire. This treatise is part of a bigger study of loyalty programmes and customer loyalty in different sectors. The sample for this study was randomly selected using snowball and convenience sampling. A sample size of n=613 was used in this study. As part of the data analysis, descriptive statistics were used to compress and organise the sample data. Inferential statistics were used to project the findings of the sample data to the full population. The study concluded that flexibility in the context of rewards not expiring was the most important factor that consumers considered when deciding to participate in a banking loyalty programme. This was followed by reward type. The study revealed that banking loyalty programme customers prefer monetary rewards over all reward types for participation in banking loyalty programmes and thus reward type is deemed as a critical factor in customers’ decisions to participate in banking loyalty programmes. The study also found that banking loyalty programme customers do not perceive reward programme communication methods as an important factor influencing their decision to participate in a banking loyalty programme.
- Full Text:
- Date Issued: 2020
A study exploring the relationship between employee happiness and financial performance within a South African financial institution
- Authors: Waugh, Geoffrey William
- Date: 2014
- Subjects: Financial institutions -- South Africa , Employee motivation , Financial institutions -- Ratings and rankings , Banks and banking -- South Africa , Bank employees -- South Africa , Job satisfaction
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:827 , http://hdl.handle.net/10962/d1012080
- Description: This research is an investigation of the relationship between employees 'happiness' and the financial performance of a financial services organisation in South Africa. As a component of the financial services industry the banking sector contributes greatly to the economic growth of the country. The South African Banking sector is concentrated and highly competitive. It is vital for banks to maintain competitiveness and ever increasing global competition adds further pressure on organisations to financially perform so as to meet the demands of their shareholders. The literature that has been reviewed and previous research suggest that employee 'happiness' is a vital variable influencing the performance and success of individuals. Organisational performance will be measured in terms of financial performance for the purposes of this research. The concept of financial performance and 'happiness' are discussed and a questionnaire based on the Satisfaction With Life Scale (Diener et al,1985) is used to determine the levels of 'happiness' at selected branches within the institution. The individual branches financial performance is determined via calculating selected ratios, namely cumulative leverage, cost to income ratio and net yield. An analysis of correlation was conducted to establish whether or not a relationship of statistical significance exists between employee 'happiness' and financial performance. It was concluded that there is no relationship of statistical significance between employee 'happiness' and the financial performance of branches within the organisation, it was suggested that other factors exert a much greater influence over financial performance. Some of these factors influencing financial performance are discussed and recommendations for further research are made.
- Full Text:
- Date Issued: 2014
- Authors: Waugh, Geoffrey William
- Date: 2014
- Subjects: Financial institutions -- South Africa , Employee motivation , Financial institutions -- Ratings and rankings , Banks and banking -- South Africa , Bank employees -- South Africa , Job satisfaction
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:827 , http://hdl.handle.net/10962/d1012080
- Description: This research is an investigation of the relationship between employees 'happiness' and the financial performance of a financial services organisation in South Africa. As a component of the financial services industry the banking sector contributes greatly to the economic growth of the country. The South African Banking sector is concentrated and highly competitive. It is vital for banks to maintain competitiveness and ever increasing global competition adds further pressure on organisations to financially perform so as to meet the demands of their shareholders. The literature that has been reviewed and previous research suggest that employee 'happiness' is a vital variable influencing the performance and success of individuals. Organisational performance will be measured in terms of financial performance for the purposes of this research. The concept of financial performance and 'happiness' are discussed and a questionnaire based on the Satisfaction With Life Scale (Diener et al,1985) is used to determine the levels of 'happiness' at selected branches within the institution. The individual branches financial performance is determined via calculating selected ratios, namely cumulative leverage, cost to income ratio and net yield. An analysis of correlation was conducted to establish whether or not a relationship of statistical significance exists between employee 'happiness' and financial performance. It was concluded that there is no relationship of statistical significance between employee 'happiness' and the financial performance of branches within the organisation, it was suggested that other factors exert a much greater influence over financial performance. Some of these factors influencing financial performance are discussed and recommendations for further research are made.
- Full Text:
- Date Issued: 2014
A strategic analysis of Capitec Bank Limited within the South African banking industry
- Authors: De Lange, Michael Coenraad
- Date: 2013
- Subjects: Banks and banking -- South Africa , Creative ability in business -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8835 , http://hdl.handle.net/10948/d1019932
- Description: The South African banking industry is well regulated and oligopolistic by nature. The financial sector in South Africa is of a world class standard, comparing favourably to that of developed countries i.e. United States of America and Great Britian, and developing economies such as the BRIC (Brazil, Russia, India and China) countries. The South African financial sector possesses the critical elements to exhibit good growth and sustainable profitabiblity. Capitec Bank Limited revolutionised the banking industry by providing a simplified and cost effective banking solution targeting the masses i.e. the "unbanked" population of South Africa. The company pursued a disruptive innovation strategy by targeting the lower income earning segment of the market i.e. individuals who are employed but do not have bank account. Capite's strategic approach and business model were designed around innovation and technology, exploiting a previously untapped market that no other competitor targeted. This approach has resulted in the bank's phenomenal growth over the past decade and most notably has seen Capitec's return on equity (ROE) increase from 12 percent to 26 percent and advances to costomers increase from R116 million to 16 billion. This has set precedent which the big four banks, namely ABSA, First National Bank, Standard Bank and Nedbank, could not match. Contributing to Capitec's success and the basis on which its business model is built are four pillars: accessibilty, simplicity, affordability and personalised service. These pillars have created a compatitive advantage resulting in the bid four banks playing catch up. A strategic analysis of Capitec bank was conducted in order to assess the feasibility of expansion by the bank into Africa. The conclusion of the study indicated that it was indeed a viable option for Capitec to expand its footprint across borders into Africa through mergers with banks exhibiting a similar business model, for example Equity Bank based in Kenya.
- Full Text:
- Date Issued: 2013
- Authors: De Lange, Michael Coenraad
- Date: 2013
- Subjects: Banks and banking -- South Africa , Creative ability in business -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8835 , http://hdl.handle.net/10948/d1019932
- Description: The South African banking industry is well regulated and oligopolistic by nature. The financial sector in South Africa is of a world class standard, comparing favourably to that of developed countries i.e. United States of America and Great Britian, and developing economies such as the BRIC (Brazil, Russia, India and China) countries. The South African financial sector possesses the critical elements to exhibit good growth and sustainable profitabiblity. Capitec Bank Limited revolutionised the banking industry by providing a simplified and cost effective banking solution targeting the masses i.e. the "unbanked" population of South Africa. The company pursued a disruptive innovation strategy by targeting the lower income earning segment of the market i.e. individuals who are employed but do not have bank account. Capite's strategic approach and business model were designed around innovation and technology, exploiting a previously untapped market that no other competitor targeted. This approach has resulted in the bank's phenomenal growth over the past decade and most notably has seen Capitec's return on equity (ROE) increase from 12 percent to 26 percent and advances to costomers increase from R116 million to 16 billion. This has set precedent which the big four banks, namely ABSA, First National Bank, Standard Bank and Nedbank, could not match. Contributing to Capitec's success and the basis on which its business model is built are four pillars: accessibilty, simplicity, affordability and personalised service. These pillars have created a compatitive advantage resulting in the bid four banks playing catch up. A strategic analysis of Capitec bank was conducted in order to assess the feasibility of expansion by the bank into Africa. The conclusion of the study indicated that it was indeed a viable option for Capitec to expand its footprint across borders into Africa through mergers with banks exhibiting a similar business model, for example Equity Bank based in Kenya.
- Full Text:
- Date Issued: 2013
The impact of economic downturn on black economic empowerment and banks
- Authors: Daniels, Sinclair Lonwabo
- Date: 2010
- Subjects: South Africa -- Economic conditions -- 21st century , South Africa -- Economic conditions , Business enterprises, Black -- South Africa , Blacks -- Employment -- South Africa , Employee empowerment -- South Africa , Banks and banking -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8620 , http://hdl.handle.net/10948/1505 , South Africa -- Economic conditions -- 21st century , South Africa -- Economic conditions , Business enterprises, Black -- South Africa , Blacks -- Employment -- South Africa , Employee empowerment -- South Africa , Banks and banking -- South Africa
- Description: The purpose of this treatise is to ascertain the impact of economic downturn on Black Economic Empowerment (BEE) and Banks. This has been sparked by the huge speculations in the market as to what will happen to BEE and how will the banks cope in general with the impact of this scourge. It is imperative to understand the influence of the 2008+ economic downturn on socio-economic reconstruction and development in South Africa and the black economic empowerment and its funding mechanisms. The treatise has two phases the, namely the theoretical phase and a bit of narrative phase. In the theoretical phase the research study interrogates what the literature review reveals about the economic downturn, BEE as well as performances of different banks across the world. This shows the economic impact that the banks have had to endure during the economic downturn. This resulted in stock markets losing their value. The dividend earners were significantly affected including a sizeable number of BEE companies. The BEE companies are perceived to be too reliant on debt on to finance their deals and this treatise will look at various options of financing a BEE deal and what is deem to the most suited financing structure. The narrative phase involves semi-structured interviews that were conducted in order to ascertain the real impact that South African were faced with and how they have managed to steer clear of the turbulent waters. This also looked at how the BEE consultant views the current occurrences in the market.
- Full Text:
- Date Issued: 2010
- Authors: Daniels, Sinclair Lonwabo
- Date: 2010
- Subjects: South Africa -- Economic conditions -- 21st century , South Africa -- Economic conditions , Business enterprises, Black -- South Africa , Blacks -- Employment -- South Africa , Employee empowerment -- South Africa , Banks and banking -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8620 , http://hdl.handle.net/10948/1505 , South Africa -- Economic conditions -- 21st century , South Africa -- Economic conditions , Business enterprises, Black -- South Africa , Blacks -- Employment -- South Africa , Employee empowerment -- South Africa , Banks and banking -- South Africa
- Description: The purpose of this treatise is to ascertain the impact of economic downturn on Black Economic Empowerment (BEE) and Banks. This has been sparked by the huge speculations in the market as to what will happen to BEE and how will the banks cope in general with the impact of this scourge. It is imperative to understand the influence of the 2008+ economic downturn on socio-economic reconstruction and development in South Africa and the black economic empowerment and its funding mechanisms. The treatise has two phases the, namely the theoretical phase and a bit of narrative phase. In the theoretical phase the research study interrogates what the literature review reveals about the economic downturn, BEE as well as performances of different banks across the world. This shows the economic impact that the banks have had to endure during the economic downturn. This resulted in stock markets losing their value. The dividend earners were significantly affected including a sizeable number of BEE companies. The BEE companies are perceived to be too reliant on debt on to finance their deals and this treatise will look at various options of financing a BEE deal and what is deem to the most suited financing structure. The narrative phase involves semi-structured interviews that were conducted in order to ascertain the real impact that South African were faced with and how they have managed to steer clear of the turbulent waters. This also looked at how the BEE consultant views the current occurrences in the market.
- Full Text:
- Date Issued: 2010
The antecedents of customer satisfaction in a financial institution : a qualitative study
- Authors: Bleske, Adrian
- Date: 2008
- Subjects: Standard Bank Properties , Banks and banking -- South Africa , Banks and banking -- Customer services -- South Africa , Financial services industry -- South Africa , Bank management -- South Africa , Banks and banking -- Customer services -- Effect of marketing on
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:840 , http://hdl.handle.net/10962/d1015482
- Description: The following is a case study report on the Cape Town business unit of Standard Bank Properties. The research project falls within the ambit of services marketing which introduces several unique management challenges for service businesses that sell services as a core offering. The principal aim of the case study is to gain an understanding of why customers bank at the business unit and to discover what aspects are critical to customer satisfaction. A further goal of the research is to examine how the business unit could improve customer satisfaction and to highlight any impediments to further improving customer satisfaction at the business unit. It is generally regarded that quality customer service is essential to building customer relationships and hence the research project emphasis on services marketing and customer satisfaction within a financial services context. The paper commences with an overview of the South African Banking Sector and its unique challenges such as the Financial Service Charter and newly introduced legislation such as Financial Intelligence Centre Act. The case study will specifically investigate the property finance industry and a detailed analysis of the business unit's operations and process flow will also be undertaken. The reason for this background information is to assist the reader to understand how the business unit operates. The research project will investigate four unique differences between goods marketing and services marketing whereafter three theoretical propositions are introduced, namely the dyadic interaction and service encounter, the Service Profit Chain and finally Relationship Marketing. Evidence in the form of a narrative will be led from insights obtained from interviews conducted with customers and staff at the business unit against these propositions with support (or otherwise) from independent surveys and documents from the business unit. The result of this analysis is the identification of several areas of concern specifically: New employees and the service encounter, Problems with FICA, Lack of a customer complaint handling system, Empowerment issues, Turnaround times, Reliance on key staff These insights together with the evidence from the literature review will be analysed and several recommendations made to improve customer service and ultimately customer satisfaction at the business unit. Several recommendations for further research are offered as well as the identification of limitations including but not limited to the specificity of the case study report.
- Full Text:
- Date Issued: 2008
- Authors: Bleske, Adrian
- Date: 2008
- Subjects: Standard Bank Properties , Banks and banking -- South Africa , Banks and banking -- Customer services -- South Africa , Financial services industry -- South Africa , Bank management -- South Africa , Banks and banking -- Customer services -- Effect of marketing on
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:840 , http://hdl.handle.net/10962/d1015482
- Description: The following is a case study report on the Cape Town business unit of Standard Bank Properties. The research project falls within the ambit of services marketing which introduces several unique management challenges for service businesses that sell services as a core offering. The principal aim of the case study is to gain an understanding of why customers bank at the business unit and to discover what aspects are critical to customer satisfaction. A further goal of the research is to examine how the business unit could improve customer satisfaction and to highlight any impediments to further improving customer satisfaction at the business unit. It is generally regarded that quality customer service is essential to building customer relationships and hence the research project emphasis on services marketing and customer satisfaction within a financial services context. The paper commences with an overview of the South African Banking Sector and its unique challenges such as the Financial Service Charter and newly introduced legislation such as Financial Intelligence Centre Act. The case study will specifically investigate the property finance industry and a detailed analysis of the business unit's operations and process flow will also be undertaken. The reason for this background information is to assist the reader to understand how the business unit operates. The research project will investigate four unique differences between goods marketing and services marketing whereafter three theoretical propositions are introduced, namely the dyadic interaction and service encounter, the Service Profit Chain and finally Relationship Marketing. Evidence in the form of a narrative will be led from insights obtained from interviews conducted with customers and staff at the business unit against these propositions with support (or otherwise) from independent surveys and documents from the business unit. The result of this analysis is the identification of several areas of concern specifically: New employees and the service encounter, Problems with FICA, Lack of a customer complaint handling system, Empowerment issues, Turnaround times, Reliance on key staff These insights together with the evidence from the literature review will be analysed and several recommendations made to improve customer service and ultimately customer satisfaction at the business unit. Several recommendations for further research are offered as well as the identification of limitations including but not limited to the specificity of the case study report.
- Full Text:
- Date Issued: 2008
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