Treating customers fairly : the South African Banks' state of adherence from the customer's perspective.
The Financial Services Board (FSB) has introduced the Treating Customers Fairly (TCF) regulation in the South African financial services industry. Prior to this, the FSB conducted a baseline study that included South Africa’s four major banks in which it assessed the state of readiness in terms of implementation of principles that embrace fair treatment of customers by financial services organisations. This study aimed to identify whether or not a gap existed between the expectations of the FSB, the application of the TCF outcomes by the financial services organisations in comparison to the customers’ end-to-end experiences of the delivery of the TCF outcomes. For this study, a total of 430 questionnaires were distributed to customers that use the products and services of the four major banks within KwaZulu-Natal. This sample was based on the literature review conducted. Of the 430 questionnaires distributed, 356 were returned giving a rate of response of 83%. This research found that there is misalignment in the view and evidence provided by the banks to the perceptions of the customers that they serve in terms of the delivery of TCF outcomes and has identified the scope of opportunity that exists for the four major banks to realign their delivery of the fairness outcomes in order to adequately satisfy the FSB’s requirements and expectations of their customers. It is recommended that, as part of the self-assessment criteria, an assessment tool drawing insights that measure customer satisfaction of the delivery of TCF outcomes be formulated. This tool would have to be constructed such that the ratable outputs are inter-related to the tool that measures the application of TCF by the financial services organisations particularly the four major banks under study.
Showing items related by title, author, creator and subject.
The development and evaluation of a community-based programme offering psychosocial support to vulnerable children affected by HIV/AIDS, poverty and violence. Killian, Beverley Janet. (2004)This research programme endeavours to develop, implement and evaluate an effective method of offering psychosocial support to vulnerable children. Vulnerability is defined by trained community members as including children ...
Worth, Steven Hugh. (2008)This thesis is about agricultural extension education. The context is agricultural extension in South Africa. It addresses the following questions: To what extent does current agricultural extension education in South ...
Loan products to manage liquidity stress when broad-based black economic empowerment (BEE) enterprises invest in productive assets. Finnemore, Gareth Robert Lionel. (2005)Investments in productive assets by broad-based black economic empowerment (BEE) enterprises in South Africa (SA) during the 1990s have been constrained, in part, by a lack of access to capital. Even if capital can be ...