An investigation of POS system upgrades on transaction error reduction in banking: a case study of Keystone Bank
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- NGN 5000
Background of the Study:
Point-of-Sale (POS) systems are critical to retail banking, facilitating efficient and secure transactions. Keystone Bank has recently undertaken major upgrades to its POS systems to reduce transaction errors and enhance customer experience. Between 2023 and 2025, the bank has implemented state-of-the-art POS technologies that incorporate real-time data analytics, automated error detection, and secure payment authentication. These upgrades are designed to streamline retail transactions, reduce manual processing errors, and ultimately improve operational efficiency (Afolabi, 2023; Musa, 2024).
The upgraded POS systems enable Keystone Bank to process a high volume of transactions with greater speed and accuracy, thereby reducing the risk of financial discrepancies and customer complaints. The bank’s investment in these technologies is part of its broader digital transformation strategy, aimed at modernizing its service delivery channels and staying competitive in a rapidly evolving market. By integrating new POS solutions with its legacy systems, Keystone Bank seeks to minimize transaction failures and boost customer satisfaction. However, challenges such as compatibility issues, system downtime, and staff training requirements may affect the overall effectiveness of the upgrades.
Furthermore, the impact of these upgrades on reducing transaction errors is critical not only for operational cost savings but also for enhancing the bank’s reputation for reliability. This study will assess the effectiveness of POS system upgrades by analyzing transaction error rates before and after the implementation of the new systems, along with qualitative feedback from frontline staff and customers (Ibrahim, 2025).
Statement of the Problem:
Despite significant investments in upgrading POS systems, Keystone Bank continues to experience transaction errors that affect overall service quality. Integration challenges between new POS technologies and existing legacy systems have resulted in intermittent system failures and increased error rates (Okeke, 2024). These issues cause delays, lead to customer dissatisfaction, and increase operational costs due to the need for manual corrections. Furthermore, inconsistent staff training and insufficient real-time monitoring contribute to the persistence of these errors. Consequently, the expected benefits of reduced transaction errors and improved customer experience have not been fully realized. This study aims to identify the factors contributing to these persistent errors and propose targeted strategies for further reducing transaction inaccuracies, thereby enhancing overall retail banking efficiency.
Objectives of the Study:
To assess the impact of POS system upgrades on reducing transaction errors at Keystone Bank.
To identify integration and training challenges affecting system performance.
To recommend strategies for optimizing POS system reliability.
Research Questions:
How effective are POS system upgrades in reducing transaction errors?
What integration challenges affect the performance of upgraded POS systems?
What measures can improve staff training and system monitoring?
Research Hypotheses:
H1: POS system upgrades significantly reduce transaction error rates.
H2: Integration issues with legacy systems negatively impact the effectiveness of POS upgrades.
H3: Regular staff training and real-time monitoring enhance POS system performance.
Scope and Limitations of the Study:
This study examines Keystone Bank’s POS system upgrades from 2023 to 2025. Limitations include technological variability across branches and potential biases in error reporting.
Definitions of Terms:
POS System Upgrades: Technological enhancements to point-of-sale systems to improve transaction processing.
Transaction Errors: Inaccuracies or failures occurring during the processing of retail transactions.
Integration Challenges: Difficulties encountered when linking new technologies with existing legacy systems.
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