Electronic Theses and Dissertations (Masters/MBA)

Permanent URI for this collectionhttps://hdl.handle.net/10539/37942

Browse

Has files: YesSubject: search.filters.subject.Financial institutions

Search Results

Now showing 1 - 4 of 4
  • Thumbnail Image
    Item
    Strategies to mitigate ransomware related cyber-attacks in South African financial institutions
    (University of the Witwatersrand, Johannesburg, 2023) Mahlangu, Nqobile; Pillay, Kiru
    Digital transformation has become topical amongst many organisations and industries alike. Inherent to the adoption of technology to optimise business processes and operations, cyber-attacks have become a growing concern, with ransomware becoming a top concern for organisations. South African banks have not been immune to the associated ransomware risks, as threat actors continue to find motivation to attempt infiltrating SA banks, compromising their confidentiality, integrity, and availability thereafter and demanding a ransom. Cyber-resilience is positioned as an attractive strategy to prevent and mitigate ransomware attacks. This study investigates the effectiveness of employing a cyber-resilience strategy in mitigating ransomware attacks within South African financial institutions, in particular SA banks. The study explores various best practices and factors that influence cyber-resiliency, the role that management plays in ensuring cyber-resiliency, and finally, various methods that can be employed to assess the effectiveness of cyber-resilience as a strategy. The study employs a qualitative research approach, using semi-structured interviews to collect data. With the permission granted by participants, all interviews were recorded, transcribed, and then analysed using thematic analysis. The research questions, which delve into the outlined research objectives, serve as a guide for the discussions of the findings. Literature and findings from the study show that ransomware is considered a top concern for SA banks, with an agreement that “it is not a matter of if ransomware attacks will happen, but rather a matter of when.” In response to this, findings show that the organisations covered in the scope of the study have employed a cyber-resilience strategy for prevention and mitigation of ransomware attacks, as it is noted as an effective strategy in preventing and mitigating ransomware attacks
  • Thumbnail Image
    Item
    Leadership and gender in a financial institution in South Africa
    (University of the Witwatersrand, Johannesburg, 2023) Bhana, Meera; Matshabaphala, Manamela
    For many years, the comprehension of leadership has been a crucial aspect in organisations and continues to be a pressing concern for businesses. Despite the efforts made by organisations to develop leaders, leadership has often been characterised by the failure to achieve desired outcomes. As such, there is a requirement to understand leadership from a gender perspective. This study is aimed at investigating the experiences of women in leadership. The focus is on comprehending the concept of leadership and how women have progressed in financial institutions in South Africa. A qualitative research design was employed to gain an in-depth understanding of women in leadership and their experiences as women in a male-dominated corporate environment. The data collection method involved semi-structured interviews with eight female participants and four male participants, in order to gather their perspectives. The findings indicated that the participants did face challenges in obtaining leadership roles and found it difficult to break the glass ceiling. However, there was a consensus that the older generation believed that women are only capable of being housewives and prioritising family responsibilities due to historical legacies and social norms. In contrast, the younger generation found it easier to assume leadership roles with the support of their organisation and male colleagues. The study revealed three main themes that emerged, namely, Leadership, Gender, and Diversity. These themes were further broken down into sub-themes. Although some of the participants exhibited a positive outlook based on the progress made by women in recent years, many still believe that the older generation needs to shift iv their mindset and embrace change. As more women are being recognised in leadership roles, it is recommended that women should also assert themselves, be empowered and encouraged to face challenges and confidently assume leadership positions.
  • Thumbnail Image
    Item
    Predicting Systematic Risk Using Artificial Neural Networks
    (University of the Witswatersrand, Johannesburg, 2023) Setloboko, Thabiso; Alovokpinhou, Sedjro Aaron
    Financial institutions and investors are always investigating mathematical models that can enable them to make accurate predictions of time varying variables. For the longest time, statistical and autoregressive models have been at the forefront of forecasting. However, these are only accurate in short horizons; that is, these models are more accurate in daily, weekly, and monthly forecasts. This paper seeks to investigate long-horizon (yearly) forecasts using machine learning models called Artificial Neural Networks. The network uses neurons similar to biological neurons in living things, allowing them to study complex data patterns and retain pattern behaviors that allow them to make accurate predictions. The paper is based on the novel discovery that in forecasting long-horizon time series data, neural networks outperform statistical models significantly. The paper uses market data from the Johannesburg Stock Exchange and the New York Stock Exchange to represent the emerging and advanced markets, respectively. The forecasted data involves pre and post COVID-19. The shock introduced by the coronavirus is investigated to check if the forecasting ability of the model is affected. The empirical results demonstrate that the models accurately forecast systematic risk in the South African market more than in the American market. The accuracy of the model is measured by using root mean square error and mean absolute error. The model produced low error values for both markets, indicating their effectiveness in forecasting. It was expected that the error measures would consistently get lower as the time horizon increased; however, there were inconsistencies. For a portfolio manager, the results obtained in this research are interesting because the model handles large quantities of data and forecasts long-horizon systematic risk with little error. However, further investigation on this model still needs to be done
  • Thumbnail Image
    Item
    Performance evaluation of FinTech applications in emerging market economies: a case of TelPay
    (University of the Witwatersrand, Johannesburg, 2022) Mvelase, Sibusiso Kenneth; Godspower-Akpomiemie, Euphemia
    The financial industry is at the receiving end of the anxiety that comes with the influx of FinTech, especially in the emerging market economies. This is because FinTech is globally restructuring the perception of people and businesses towards financial services product and services. There are so many benefits attached to FinTech (including ability and efficiency in addressing transaction cost and information asymmetry while providing financial services) that have escalated its global acceptance and usage. Despite the identified benefits of FinTech most academic and policy research focus more on FinTech disruption of the financial institutions, rather than the performance of the FinTech start-ups. Though the research on FinTech disruption requires attention, it is also vital to assess the efficiency of the FinTech companies already in operation, especially in Africa where technological infrastructure could be on a minimal supply. Therefore this study assesses the performance of FinTech, focusing on TelPay, a FinTech start-up that is spreading fast within the African markets, with the intension of getting into other emerging market economies. TelPay users (15) and developers (2) were interviewed, analyzed through content analysis using word could. The word cloud clearly show following characteristics of TelPay; affordability ease of usage, good performance, flexibility, fast, loan, credit, etc. This result posits that people were attracted to TelPay due to its affordability, along the line, they found that the app is unique, the process is easy and flexible, and the functionality is efficient and precise. The result also shows that TelPay has been an enabler of financial inclusion in the three countries of its current operation. According to the respondents, TelPay has created a door-way to financial inclusion in their countries, by creating inclusiveness to the lowincome earners, through access to credit. The study also concluded that TelPay will definitely survive in Africa, especially if it maintains and/or improves on the quality of the services it currently offers.