Faculty of Commerce, Law and Management (ETDs)
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Item Big Data Analytics as a Customer Retention and Acquisition Strategy within South African Retail Banking(University of the Witwatersrand, Johannesburg, 2024) Kharidzha, Muano; Chalomba, NakuzeBig Data analytics in banking can lead to superior performance, but the industry is still working to understand its relationship with organisational impact. To stay relevant, banks should invest in big data analytics, offering customer-centric experiences for retention and acquisition strategies, as threats from non-banks threaten the banking space. This study offers a novel approach to investigating how the application of BDA in the form of personalised customer engagements, product offerings, and fraud detection in the South African banking environment can be used as a customer acquisition and retention strategy. A quantitative method of study was used, where digitally active banking customers were requested to complete an online survey. The study's overall conclusion is that, thanks to the considerable impacts of the above-mentioned BDA applications on customer experience, there is a positive correlation between BDA and customer acquisition and retentionItem An Assessment of Digital Transformation and Maturity in the South African banking sector(University of the Witwatersrand, Johannesburg, 2024) Garane, Achumile Sinazo; Anning, Thomas DorsonThe present study investigates the nuances of digital transformation and maturity in the South African banking sector. In the present study, the prevailing problem is that documented scientific evidence seemingly suggests business customers have to wait a long time for their loan applications to be accepted because banks lack the necessary digital capabilities, business processes and IT competencies to respond to all sales requests promptly. To deal with this pressing empirical and practical gap in the literature, this study collected primary data through a semi-structured interview approach. To do this, two samples were drawn from business executives and retail and business client strata from the banking sector in South Africa. A total of 15 interviews were conducted, comprising 7 business executives and 8 from the retail and business clients group. Data was analysed using thematic analysis. The findings suggest that South Africa's banking industry has a well-advanced digital banking system that integrates business and retail clients with the global financial system and makes it easier for them to plan their cash flow streams using different products offered by digital banking platforms. Nonetheless, despite a relatively advanced banking system, evidence suggests that retail and business banking clients lack the knowledge on how to use digital banking applications. As such, the study recommends that financial institutions should develop user-friendly products, increase knowledge of product usage to clients, and eliminate the probability of cybercrime in digital banking platformsItem Government regulated collection systems and the financial corporate user in South Africa(University of the Witwatersrand, Johannesburg, 2021) Peters, ClaireFor years, South Africa has aimed to build a fit for purpose National Payment System that protects as well as serves various stakeholders. Collection systems hope to ensure that consumers are in control of and aware of debit orders being processed to their own bank accounts. It provides companies with the comfort of knowing that customers have acknowledged and are aware of debits orders and also allows consumers’ banks to record the debit order information and check the information before they process the debit order to their accounts. The study hopes to evaluate the level of efficacy of implementation from a technological point of view against the background of the South African technological landscape. The purpose of the study to investigate the relationship between technological advancements and corporate user capabilities in developing countries that forge ahead with technological advancements in banking payment collection systems (Bell, Pavitt, 1992). The study will attempt to evaluate the current technological interventions and the impact they have on business and consumer buy-in in the insurance industry with specific focus on payment collection systemsItem Determinants of intrapreneurial performance within the banking industry in South Africa(University of the Witwatersrand, Johannesburg, 2022) Govender, Thanusha; Urban, B.The ability for large corporates to remain competitive and grow ahead of the market in an era that has been defined by globalisation, the fourth industrial revolution, and more recently the COVID-19 pandemic has become increasingly difficult. Therefore, it is a critical imperative for organisations to develop a new capability that equips them to navigate the turbulent global macro-economic environment and complex business markets successfully. Globally, banks have experienced severe pressure to transform their business models from capital intense businesses into revenue diversification drivers through new fee-based services. Investors are leaning towards new generation banking models that serve customers holistically, intuitively, and better by employing “new age” technology solutions, as profitability levels within global banks have slipped below the cost of shareholder equity. Coupled with the reality on the ground pre-2020, COVID-19 has become awatershed transformation moment for banks. It has accelerated many long-term banking trends that have resulted in customer shifts in relation to their needs, behaviours and expectations and has subsequently impacted their recovery performance. As such, African banks need to pivot their focus towards growth and relevance by ensuring the establishment of a fundamentally different business model that provides integrated digital ecosystem solutions that go beyond traditional banking, and offer to ensure market competitiveness. Corporate entrepreneurship is a strategic capability that enables organisations to embed innovation as a core competency and simultaneously engage in explorative and exploitative activities, which are essential thrusts in the strategic renewal of a company. This research study enriched the domain of corporate entrepreneurship by deepening the understanding of the mechanisms that underpin the corporate entrepreneurial embedment process, within a dynamic complex organisational setting. This was through the development of a core embedment capability model of corporate entrepreneurship that predicts the value drivers of corporate entrepreneurial performance and explores the contextual corporate entrepreneurship nuances attributed to banking corporations domiciled in Africa. This study importantly furthered contextual setting theory development and shed light over the heterogeneity of corporate entrepreneurship, which arose due to an idiosyncratic corporate entrepreneurship embedment process. This process consists of institutional path dependencies that resulted from gradations in the macro, meso, and micro layers. The model and theories emanating from this study not only aimed to bridge the research gap by exploring the dynamic complexity of corporate entrepreneurship, but also assessed the knowledge transfer of market intelligence into corporate entrepreneurial performance, and the significance of network ties in developing countries as an influencer of corporate entrepreneurial activity. In this research study, the levels of corporate entrepreneurship within the financial services sector of companies domiciled in South Africa were analysed to determine the quantum of influence that organisational, individual, and environmental antecedent factors have as predictors of corporate entrepreneurial performance. This was a precursor to crafting an embedment capability model that would enable financial services organisations to embed a corporate entrepreneurial ecosystem systematically, and enable effective and agile corporate entrepreneurial transformation. The research purpose was achieved by employing a three-prong approach. First, a configurational method was applied to existing literature to consolidate prevailing theories and to integrate existing models and frameworks as a basis of the proposed theoretical model. Second, the theoretical model was empirically tested using partial least squares structured equation modelling (PLS-SEM) to validate the model and to establish causal relational influence among the three different sets of antecedent variables. This would determine their quantum of impact on corporate entrepreneurial performance. Finally, an optimal configuration was proposed as a premise to describe and predict corporate entrepreneurial performance as a function of system thinking. The empirical evidence from this study validated that the most significant transformational driver of corporate entrepreneurial activity within incumbents remained organisational antecedents and entrepreneurial corporate strategy as the bedrock of a corporate entrepreneurial embedment ecosystem. Its singular effect on corporate entrepreneurial activity was circa five times larger than any other predictor within the corporate entrepreneurial embedment ecosystem. This was flanked equally by employee enablement of the corporate entrepreneurial strategy and the execution of the corporate entrepreneurial strategy. Employee enablement consisted of two supporting predictors, namely, the decisions and behaviours of transformation leaders, and the entrepreneurial cognitive horsepower of employees to develop initiatives and formulate strategic plans that enable the delivery of the corporate entrepreneurial strategy. Strategy execution encompassed two underpinning predictors, namely, the implementation of an organic organisational structure and the deployment of novel resource recipes to build new capabilities and adjacent capabilities to a firm’s core offering. Considering the nuances in the African operating environment, both macro level antecedents and network ties were deemed non-significant direct value drivers of corporate entrepreneurial performance within African banks.Item Chat banking adoption by retail banking clients in South Africa(University of the Witwatersrand, Johannesburg, 2022) Ndamase, Simpiwe Dobela; Ruhode, EphiasDigital banking has been growing rapidly and many institutions are introducing different convenient option to process financial transactions. Retail banking clients have a number of banking channels offered by banks. Chat Banking is one of the ‘new’ channels in retail banking and is an effective and convenient way to conduct banking transactions. This study helps discover why clients are slow in adopting to Chat banking and also analyses customer behaviour in order to understand how banks can grow the channel and the clients perception to the channel. Research method used is qualitative and results were gathered using an online survey. 342 respondents replied to the survey which resulted in receiving great insight on the study. Insights highlight how clients use multiple channels and are more aligned to use one of the traditional digital channels rather than recently introduced channels like chat banking. Clients who completed the survey seem to be satisfied with mobile application. One important benefit about Chat Banking is that it uses low bandwidth which is cost effective for most South Africans, as a high percentage live in poverty. Respondents who completed the survey are not impacted by infrastructure and do not live in areas like townships or rural. Chat Banking will work best with the low LSM and unbanked marketItem Determinants of intrapreneurial performance within the banking industry in South Africa(University of the Witwatersrand, Johannesburg, 2022) Govender, Thanusha; B, UrbanThe ability for large corporates to remain competitive and grow ahead of the market in an era that has been defined by globalisation, the fourth industrial revolution, and more recently the COVID-19 pandemic has become increasingly difficult. Therefore, it is a critical imperative for organisations to develop a new capability that equips them to navigate the turbulent global macro-economic environment and complex business markets successfully. Globally, banks have experienced severe pressure to transform their business models from capital intense businesses into revenue diversification drivers through new fee-based services. Investors are leaning towards new generation banking models that serve customers holistically, intuitively, and better by employing “new age” technology solutions, as profitability levels within global banks have slipped below the cost of shareholder equity. Coupled with the reality on the ground pre-2020, COVID-19 has become a watershed transformation moment for banks. It has accelerated many long-term banking trends that have resulted in customer shifts in relation to their needs, behaviours and expectations and has subsequently impacted their recovery performance. As such, African banks need to pivot their focus towards growth and relevance by ensuring the establishment of a fundamentally different business model that provides integrated digital ecosystem solutions that go beyond traditional banking, and offer to ensure market competitiveness. Corporate entrepreneurship is a strategic capability that enables organisations to embed innovation as a core competency and simultaneously engage in explorative and exploitative activities, which are essential thrusts in the strategic renewal of a companyItem Transitioning to a Platform Business: A Resource-Based View Case Study of a South African Bank(University of the Witwatersrand, Johannesburg, 2022) Ramrup, Kashil; Lee, GregoryTraditional incumbent banks have seen upstart digital-only banks and fintech, free of legacy systems, challenging their market share. In an effort to avoid disruption by fintechs, banks are embracing the platform strategy. Developing a platform makes it possible to interact with current communities and benefit from shared network effects that can hasten growth, save costs, and increase brand awareness. This research report investigates the impact on a large incumbent bank's resources transitioning to a platform business. A case study was completed on one of South Africa’s big five banks, focusing on the corporate and investment banking(CIB) division. The division is considered a thought leader around platforms within the bank and is actively engaged in shaping and driving its transitional journey. A qualitative study was conducted through semi-structured interviews with senior management and executive leadership. The study population comprised employees of the CIB division of Bank X, South Africa. The sample was selected based on seniority and exposure to the bank's platform business strategy formulation and implementation. The study found that, despite the bank intentions to pursue the platform strategy, there was an internal misalignment in precisely what it meant at the various levels within the organisation, compounded by the lack of platform and technical skills in multiple areas to support the transition. As CIB is a high-touch banking model, there was little understanding of how the physical network would be impacted or could be leveraged/integrated into the platform model. It also found that transitioning to a platform requires individuals with a platform thinking mindset, the ability to challenge the traditional linear pipeline business model, and an enabled and aligned culture with a new operating model that could blend the physical and digital worldsItem Challenges of big data usage for risk management in a South African Bank(University of the Witwatersrand, Johannesburg, 2023) Mosiane , Boipelo; Ochara, NixonRisk management is a critical component in the effective operation of corporations, particularly for the purpose of identifying, assessing, and mitigating potential risks associated with running a business. In recent years, the exponential growth of data, along with technological advancements, has opened new opportunities for organizations to enhance their risk management capabilities. Big data is said to be a game-changer that has the potential to completely alter how different industries conduct business. However, there are several difficulties in effectively employing big data in risk management processes. Using a qualitative research approach, this research report highlights the usage of big data in risk management, emphasizing the potential benefits, challenges, and critical considerations for successful adoption. The research findings revealed that big data can enhance risk identification accuracy, proactive risk mitigation, strategic decision-making, and overall organizational resilience. The challenges hindering the adoption of big data in risk management are addressed, including skill gaps, data quality, technology infrastructure, talent acquisition, and bureaucratic barriers. The study highlights issues preventing widespread integration of big data in the risk community, particularly data trust and collaboration barriers between risk and technology teams. The research report recommends that the bank creates a robust talent acquisition strategy for analytics experts and prioritize retaining them to safeguard data resources. It also suggests fostering a learning-friendly environment for big data topics through accessible certifications and learning programs. Additionally, the research report emphasizes the need for addressing data quality issues in risk management, proposing solutions like RPA to improve data capture processes and enhance data accuracy and trust.Item The Impact of Technology in the Productivity of Corporate Banking: An Assessment of Emerging Markets(University of the Witwatersrand, Johannesburg, 2022) Moyo, NkosiThis paper assesses the role of technology within the banking environment and seeks to find a correlation between increase in technological investment and the financial performance of banking institutions. This is achieved through a comparative analysis of six banks in two emerging markets to prove that an increase in technological output results in improved productivity and ultimately, financial performance for banks within emerging markets. The paper illustrates how technological advancements in the twenty first century have been contributed significantly to the financial performances of major banks in South Africa and Kenya, to an extent that technology is a quintessential contributor to the increasing success of financial institutions and that even through the advent of the Covid pandemic, the role of technology has increased significantly, to the extent that the relationship and impact between banking and technology is immeasurableItem Business process management and innovation dynamics in a South African Bank(University of the Witwatersrand, Johannesburg, 2023) Chang, Kai-Ruin; Mzyece, MjumoInnovation has been a topical focus for banks in achieving strategic value through new products development, efficient processes and improved services. Whilstdriving innovation, banks are however faced with barriers such as inertia exerted by legacy systems, unsupportive organisation structures and restrictive mindsets that are too risk avoidant. Thus, how innovation is managed by banks has become critical in overcoming these barriers. Despite business process management (BPM) having an overlapping objective to that of innovation management in achieving efficiency and lowering costs for an organisation, it has developed as a separate discipline to that of innovation management. The purpose of this study is the exploration of integrating BPM principles in innovation management in banks to overcome barriers and provide practical recommendations. The study further aims to contribute to the gap that exists between the body of academic knowledge and what innovation managers are aware of in a South Africa bank context. In this study, data were collected through semi-structured interviews with senior employees within a South African bank. The data were further analysed using a qualitative research method to identify and interpret themes based on interviews with subject matter experts and managers in the South African bank. The study has identified the key layers from the total innovation management paradigm and BPM principles that can enable the innovation performance for a bank and raises further areas that can be explored