The impact of debit charge policy reforms on enhancing transactional transparency in banking: a case study of United Bank for Africa
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
United Bank for Africa (UBA) has embarked on a comprehensive reform of its debit fee policy with the aim of enhancing transactional transparency. In today’s competitive banking environment, fee transparency is increasingly recognized as a key determinant of customer trust and satisfaction. UBA’s reform initiative involves the standardization of fee structures across all service channels, the elimination of hidden charges, and the use of digital platforms to communicate fee details clearly. By implementing a unified fee schedule, UBA aims to simplify the cost structure for customers, ensuring that all charges are easily understandable and consistently applied. This approach aligns with global best practices and regulatory mandates that call for greater transparency in financial services. Moreover, digital tools such as interactive fee calculators and real‑time disclosure features have been integrated into UBA’s online and mobile banking platforms to facilitate instant access to fee information. These innovations not only empower customers to make informed decisions but also streamline internal processes by reducing the complexity of fee reconciliation and audit procedures. However, challenges remain in integrating the new system with legacy technologies and ensuring that all customer segments—especially those with limited digital literacy—can access and comprehend fee information effectively. This study investigates how debit charge policy reforms impact transactional transparency and customer perceptions at UBA.
Statement of the Problem
Despite the recent reforms in debit fee policies, UBA still faces challenges in achieving complete transparency. Integration issues between the new standardized fee model and legacy systems have occasionally resulted in discrepancies between published fee schedules and actual charges applied during transactions. These discrepancies can lead to customer confusion and a decline in trust. Additionally, while digital platforms are used to communicate fee information, a segment of the customer base struggles with digital literacy, limiting the overall effectiveness of the transparency initiative. Moreover, balancing the need for transparency with revenue targets remains a critical challenge, as overly aggressive fee standardization might impact the bank’s profitability. These issues hinder UBA’s ability to fully leverage fee transparency as a tool to enhance customer satisfaction and reduce disputes.
Objectives of the Study
-
To assess the impact of debit charge policy reforms on enhancing transactional transparency at UBA.
-
To identify system integration and communication challenges affecting fee transparency.
-
To recommend strategies for ensuring consistent and accessible fee disclosure.
Research Questions
-
How do debit fee policy reforms affect transactional transparency at UBA?
-
What integration and communication challenges hinder effective fee disclosure?
-
What measures can improve the consistency and clarity of fee information for customers?
Research Hypotheses
-
H1: Debit charge policy reforms significantly enhance transactional transparency at UBA.
-
H2: Integration issues with legacy systems negatively impact fee disclosure consistency.
-
H3: Effective digital communication strategies are positively correlated with increased customer trust.
Scope and Limitations of the Study
This study examines UBA’s debit fee reform initiatives using internal transaction data, customer surveys, and system integration reports. Limitations include varying levels of digital literacy among customers and challenges isolating fee transparency effects from broader service factors.
Definitions of Terms
-
Debit Charge Policy Reforms: Changes in fee structures aimed at standardizing and clarifying charges.
-
Transactional Transparency: The openness and clarity with which transaction-related fees are communicated.
-
Legacy Systems: Older technologies that may impede the integration of new digital systems.
-
Digital Communication: The use of electronic channels to disseminate fee information.
Related Project Materials
GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN NIGERIA (1981 - 2015)
ABSTRACT
This study examined government expenditure and Nigeria’s economic growth within the samp...
The Role of Exercise in Managing Hypertension in Kebbi State
Background of the Study:
Regular physical activity is widely recognized as a key factor in managing and preventing hyperten...
A critical analysis of talent management strategies in driving business growth: A study of manufacturing firms in Nasarawa State
Background of the Study
Talent management is a critical aspect of organizational success, particularly in industries like manufacturing,...
An Examination of Profit and Loss Sharing Arrangements in Islamic Banking
Background of the Study
Profit and loss sharing (PLS) arrangements are foundational to Islamic banking, reflecting the prin...
PHYTOCHEMICAL AND ANTIFUNGAL STUDIES OF METHANOL LEAF EXTRACT OF TAPINANTHUS GLOBIFERUS (A.Rich) Tiegh GROWING ON VITEX DONIANA
ABSTRACT
Tapinanthus globiferus (A.Rich) (Loranthacae)is a semi-parasitic plant growing on several plant sepecie such as Vitex doniana, V...
An evaluation of the role of traditional diviners in decision-making in Ohaozara Local Government, Ebonyi State
Background of the Study:
Traditional diviners in Ohaozara Local Government have historically occupied influential positions...
The Effectiveness of Communication Strategies in Promoting Family Planning in Birnin Kudu Local Government Area, Jigawa State
Background of the Study
Family planning is a key component of public health strategies aimed at improving maternal and c...
FACTORS RESPONSIBLE FOR THE CONTRIBUTIONS OF SMALL AND MEDIUM SCALE BUSINESS TO ECONOMIC DEVELOPMENT (A CASE STUDY OF OIL FIELD TRANSPORT)
BACKROUND OF THE STUDY
The economy of Nigeria was mostly based on agriculture for a long time until oil...
An examination of online banking security measures on reducing cyber risks in finance: a case study of Citibank Nigeria
Background of the Study
Online banking has become integral to modern finance, but it is accompanied by heightened cyber ris...
IMPACT OF TECHNOLOGY ON ADULT EDUCATION DELIVERY METHODS
Abstract: The impact of technology on adult education delivery methods has become increasingly significant in recent years, transforming the l...
