Telephone Banking Services Research Articles

Consumer Perception on Influence of Technology in Banking Sector

Abstract: This study seeks to understand how respondents view various technological aspects of e-banking, such as ATM services, Internet banking services, telephone banking services, and mobile banking services, and how these aspects affect the banking activities of both public and private sector banks.

CUPVC: A Constraint-Based Unsupervised Prosody Transfer for Improving Telephone Banking Services

CUPVC: A Constraint-Based Unsupervised Prosody Transfer for Improving Telephone Banking Services

Effective speaker spotting for watch‐list detection of fraudsters in telephone banking

This study describes a special-case application of speaker recognition in open-set speaker-identification mode, which nonetheless has wide applicability. Watch-list based speaker spotting in telephone banking can potentially provide valuable protection against ‘known’ fraudsters with access to stolen customer details. In this study, the detection of known fraudsters in a telephone banking service using commercial off-the-shelf verification engines is described. A new ‘delta scoring’ method for watch-list detection is proposed based on using the genuine customer model as a reference. The approach combines for the first time speaker recognition in both verification and identification mode. Empirical experiment results show a significant gain in performance using the new method.

European banks forge ahead with biometric tech

Barclays bank is introducing voice recognition for all users of its telephone banking service, reports The Telegraph. Separately, France's national interbank network, Groupement des Cartes Bancaires (CB), is evaluating the use of fingerprint biometrics in payment transactions and is expected to approve a strong authentication standard, defined by Natural Security for use in the CB system, before the end of the year.

The role of personal and social characteristics on acceptance of new telephone banking services

Article history: Received May 12, 2013 Received in revised format 12 August 2013 Accepted 28 September 2013 Available online October 2 2013 For over two decades, telephone banking has steadily become a useful feature and all banks have tried to provide this feature as part of their services. In this paper, we present an empirical investigation to study the role of personal and social characteristics on acceptance of new telephone banking services. The proposed study designs two questionnaires and distributes them among 384 randomly selected people who use telephone banking in city of Tehran, Iran. Using structural equation modeling, the study examines various hypotheses and the results of our survey indicate that there were some positive and meaningful relationships between perception usefulness and users’ attitude, perception and ease of use, perception and intention to use as well as perception and intention to use. In addition, the study has detected a negative and meaningful relationship between personal risk and intention to use and perception of personal time and intention to use among mobile users. © 2013 Growing Science Ltd. All rights reserved.

An exploration study on influential factors on information and communication technology

Article history: Received January 15, 2013 Accepted August 12, 2013 Available online August 14 2013 During the past few years, information and communication technology (ICT) has revolutionized banking industry in the world. People are now able to do their business banking activities such as bill payments, transfer funds, etc. through the art of ICT features such as automatic teller machines, internet or telephone banking services. This paper performs an empirical investigation to find important factors influencing ICT implementation in Iranian banking industry. The survey uses factor analysis to find important factors using a questionnaire consist of 26 variables. Cronbach alpha is calculated as 0.901, which validates the questionnaire. The survey detects six factors influencing ICT including efficiency approach, new advanced technological achievements, human resource management, service strategy, growth strategy and supporting systems. © 2014 Growing Science Ltd. All rights reserved.

On the role of SMS for transaction confirmation with IVR telephone banking

PurposeThe purpose of this paper is to deliver empirical results on the effects of (out‐of‐band) short message service (SMS) confirmation messages after transactions have been completed in an automated interactive voice response (IVR) telephone banking service. The research seeks to discover if SMS confirmations have a positive effect on customer relationship to furnish evidence for a proposed business case for a multi‐channel banking service. The paper aims to offer results on customer attitude on the role of SMS with IVR as a multi‐channel customer relationship management (CRM) strategy in digital banking.Design/methodology/approachThe methodology is an empirical study based on a controlled laboratory experiment using bank customers as participants. Questionnaires and user observation techniques were employed to collect quantitative and qualitative data, which were analysed using repeated measures ANOVAs.FindingsTransaction confirmation is shown to be important to customers – whether by an SMS message or within the IVR telephone call itself. Customers judged the role of SMS for CRM as highly desirable after monetary transactions; they prefer the version of the IVR banking service that provides (out‐of‐band) SMS confirmation compared to one that does not – and they judged it significantly higher for quality. However, there were no significant differences detected between customer attitude scores for usability of IVR calls involving funds transfers with, or without, an SMS confirmation. As a consequence, the business case was only developed as far as inclusion of transaction confirmation within the IVR call itself, and not extended to use of SMS.Practical implicationsImplications from the results are offered as management insights for the financial services sector in seeking integrated mobile CRM strategies, or “next call avoidance” strategies.Originality/valueThe paper reports findings from a controlled experiment with 116 participants that was based on extension of an existing IVR telephone banking service with which they were all familiar as users.

The mediating effects of brand music and waiting time updates on customers' satisfaction with a telephone service when put on‐hold

PurposeThe purpose of this paper is to deliver empirical data comparing the effects of music with the effects of providing waiting time information on customers who are kept on hold when telephoning their bank. It aims to discover if either has a more positive impact on their affective responses (satisfaction), and to discern if these effects are measurably different to a telephone call without music, or waiting time information, and for different durations of wait.Design/methodology/approachThe methodology is an empirical study using bank customers as participants. Questionnaires and user observations techniques are employed to collect quantitative data which are analysed using repeated measures ANOVAs.FindingsOverall the presence of updates, or music, has a positive influence on satisfaction when compared to just a ringing tone, but for a waiting time of one minute music has no influence on satisfaction. The acceptable waiting time threshold plays a very critical influence on satisfaction with the service. A waiting time above this results in larger differences being observed in the responses to the four treatments, with music and updates both having greater influence. In general, the presence of music and updates are also shown to reduce the overestimation of perceived waiting time.Originality/valueThis paper reports findings from an existing UK telephone banking service with 197 customers in three different locations. Implications from the findings provide insights for telephone service managers when choosing between adopting music or updates for managing on‐hold periods.

Hidden menu options in automated human – computer telephone dialogues: dissonance in the user's mental model

This paper explores the consequences of adopting an alternative strategy to that of explicitly listing all options within the main menu of a speech-driven automated telephone banking service. An existing service was augmented with an overdraft request dialogue, accessible at its main menu, which could be triggered using the keyword “overdraft”. However, the keyword was not explicitly mentioned as an option in the main menu. Instead, system-initiated proposals for an overdraft were introduced into the call flow, notifying callers that they could apply for an overdraft by saying “overdraft” at the main menu. An experiment with 114 participants was carried out to investigate the effectiveness of this strategy as a way of offering new services without increasing the length of the main menu. Results showed that a significant proportion of participants (37%) did not succeed in completing an overdraft request. The reasons for this failure are discussed.

Washington Trust Bancorp, Inc.

Mergent's Dividend AchieversVolume 2, Issue 2 p. 300-300 U.S. Company Report Washington Trust Bancorp, Inc.† First published: 22 April 2005 https://doi.org/10.1002/div.2471 † Contact: : John C. Warren — Chmn., C.E.O. Address: : 23 Broad Street, Westerly, RI 02891 Web Site: : www.washtrust.com AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Abstract Commercial Banking (MIC: 8.1 SIC: 022 NAIC: 22110) Washington Trust Bancorp is a bank holding company. Through its subsidiaries, Co. operates banking and other financial services and businesses. Co. provides a broad range of financial services, including: residential mortgages, commercial loans, construction loans, consumer installment loans, home equity lines of credit, merchant credit card services, automated teller machines, telephone banking services, Internet banking services, commercial deposits, consumer demand deposits, savings deposits, negotiable order of withdrawal and money market deposits, certificates of deposit, retirement accounts, cash management services, safe deposit boxes, and trust and investment management services. Volume2, Issue2Spring 2005Pages 300-300 RelatedInformation

Customer retention strategies at a UK telephone bank

When Frontier Bank (not its real name) set up its telephone banking service for businesses in 1995, the aim was to have 30,000 customers on board by 2000. The people at the UK’s Frontier Bank had done their sums. They knew each account would earn around £55.00 in commissions and bank charges and would cost about £155.00 to maintain a year. They also knew they wanted business customers who were cash‐rich but cost‐sensitive.

Retaining telephone banking customers at Frontier Bank

Examines and reports the customer retention practices of Frontier Bank as it provides telephone banking services to business customers. Assesses whether those practices at Frontier Bank reflect extant theories, and whether extant theories can explain customer retention practice in this context. Reviews two theoretical discussions on customer retention, discusses telephone banking services, describes and analyses four retention practices of Frontier Bank, and identifies gaps in both practice and theory. The findings suggest, first, that managers at Frontier Bank applied very few of the prescriptions suggested by extant theories. Managers of similar telephone banking operations could benefit from applying extant customer retention theory in their businesses. Second, authors are too simplistic in assuming that extant theories on customer retention are applicable in any business situations. States that researchers should be cautious in offering generalized customer retention strategies and should consider developing models of customer retention which take account of variations in business context.

Effects of Prompt Style on User Responses to an Automated Banking Service Using Word-Spotting

Two experiments were performed to measure the effects of differing styles of prompt wording in a simulated telephone banking service incorporating a speech recogniser with word-spotting capabilities. It was found that users gave longer input utterances in response to an ‘open‘ style of prompt (‘How can I help you?‘) than in response to a ‘closed‘ prompt which was more specific as to what input was expected, and that when a help facility was offered most users said ‘help‘ straight away. However, no significant difference was found in attitudes to the different versions of the service. Also no attitude difference was found with varying recognition accuracy. This may have been partly due to inadequate vocabulary coverage obscuring the effect of accuracy within the vocabulary, but the results suggest also that small numbers of recognition errors may have little impact on user attitude provided that the intended result of the call is achieved — this is a topic where further research could be valuable.

Voice-operated service

First Page

Technology and innovation in retail banking distribution

The issue of distribution of retail financial services has received growing attention in the academic and professional literature and has been hailed as an increasingly important factor in determining whether or not a company competes effectively in its chosen markets. In an increasingly competitive and deregulated environment, superior distribution strategies concerned with how to communicate with, and deliver products to the consumer can provide institutions with significant competitive advantage in the marketplace. In effect distribution provides the basis for differentiation rather than the core service itself. Discusses developments in the distribution of retail banking services in the UK; more particularly, the emergence of home and telephone retail banking delivery systems will be highlighted, with the successful introduction of a telephone banking service by First Direct, a subsidiary of Midland Bank, being used as a case study to explore current developments.

Anser: an application of speech technology to the Japanese banking industry

A system called Anser, which combines speech recognition and synthesis to offer telephone banking services to millions of customers, is described. Anser's design, its current application in banking services and the reasons for its success are discussed. Experience with Anser is examined and potential applications are indicated. >