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Cash Recycling Machine (CRM) & its impact on customer satisfaction: A study on UCB PLC Tanha, Moutusi; Siddique, Maliha Ahmed; Sumon, Md. Monirul Islam; Nurulhoque, Md.; Sazin, Rawshan; Hossain, Peas
Annals of Management and Organization Research Vol. 5 No. 2 (2023): November
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v5i2.1753

Purpose: The primary purpose of this research is to explore Cash Recycling Machine (CRM) systems and determine customer satisfaction after using CRM services. Research Methodology: To collect data for this research, a questionnaire was created and a survey was conducted to assess user contentment with the Cash Recycling Machine (CRM) of the United Commercial Bank (UCB) PLC. During the investigation of the Cash Recycling Machine (CRM) system, a secondary data source was utilized. Results: An analysis indicates that Almost 97% of respondents regularly utilized CRM services while continuing to depend on conventional banking methods. Nevertheless, a significant proportion of participants (over 20%) frequently employed CRM systems. Specifically, 47% utilize these systems four to seven times each month. This study demonstrates that banks are implementing novel services to entice a larger clientele, while consumers are allowed to utilize the banks' fundamental services, such as making deposits and withdrawals. Limitations: Banks are restricted from accessing crucial information owing to data privacy concerns. Furthermore, the use of secondary data may not adequately reflect the perspective of UCB PLC, owing to scalability issues. Ultimately, the limited sample size is a result of clients' strong unwillingness to allocate time for research. Contribution: This study and its implications can be used for additional research in emerging economies to comprehensively examine the adoption of new technologies in the banking industry. Novelty: The core reaction of consumers to an emerging technology for rapid economic growth.

The correlation of cashless banking and profitability in the banking industry in Bangladesh Tanha, Moutusi; Alam, Md. Karimul; Mahmud, Sultan; Hossain, Shahadat; Alam, Murshed; Sabahel, Md. Al
Annals of Management and Organization Research Vol. 5 No. 3 (2024): February
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar

Purpose: Cashless banking is an innovative banking policy that is gaining prominence in today's digital era of technological advancement. This study investigates the correlation between profitability of the banking sector and adoption of cashless banking in Bangladesh. Research Methodology: The profitability of the cashless banking industry in Bangladesh was measured using Return on Equity (ROE) and Return on Assets (ROA). Profitability is determined by the transaction volume of Mobile Financial Services (MFS), Automated Teller Machines (ATMs), bit cards, and internet banking fund transfers (IBFT). This study uses a multiple regression approach to analyze the association between a bank's profitability and cashless banking. The data used in this analysis were collected from the annual reports of the Central Bank of Bangladesh over a seven-year period. Results: The findings indicate that IBFT has a notable favorable influence on return on equity (ROE), whereas ATM and debit cards have major adverse impacts on ROE. Additionally, mobile financial services (MFS) and IBFT have a positive effect on return on assets (ROA), but debit cards have a negative effect on ROA in Bangladesh’s banking business. The data indicate that nearly all the components have either a positive or negative influence on ROA or ROE. Contribution: However, only IBFT has a positive and substantial influence on ROA and ROE. The results of this study have moderate importance for the regulatory bodies and stakeholders of both banks and non-bank financial firms as well as for academics and the government as a whole.

Factors influencing the development of the cashless payment system: Comprehending the function of the involved participants Tanha, Moutusi; Dolon, Md. Mohibul Alam; Al-Amin, Al-Amin; Nadi, Nusrat Afrin; Islam, Md. Monirul; Ali, Md. Hazrat
Annals of Management and Organization Research Vol. 5 No. 4 (2024): May
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v5i4.1959

Purpose: The prevalence of cashless payments has increased globally owing to their myriad benefits. Furthermore, the use of cashless payments has also increased. Nevertheless, there is a need for more comprehensive research on the acceptance and current methodologies of cashless transactions. This study aims to gain a thorough understanding by identifying the entities involved and their pivotal functions in the payment ecosystem. Research Methodology: This report seeks to answer two research questions: i) Which factors are involved in the cashless payment ecosystem? What key elements influence the players in adopting a cashless payment ecosystem? Six key ecosystem players and their influencing elements were identified by comprehensively evaluating 63 publications published between 2015 and 2021. Results: Several benefits are associated with cashless payments, which have led to their growing popularity worldwide. Furthermore, during the COVID-19 epidemic, there was a significant increase in the use of cashless payment methods. Limitations: On the other hand, more holistic studies on the widespread use of cashless payment methods and their respective modern behaviors are needed. Contribution: In addition to providing a foundation for further empirical research, this study contributes to resolving adoption-related concerns. Novelty: This study’s original approach to understanding the various elements driving cashless payment system development by focusing on participant roles and functions is unique. Unlike previous studies, this study examines human dynamics rather than technology or regulatory issues.

Factors impacting user acceptance of e-wallets in Bangladesh's transition towards a cashless society Tanha, Moutusi; Islam , Nurul; Priya, Farhana Akter; Emran, Mohammad Zonaed; Mahmud , Tanvir; Mortuza, Md.
Annals of Management and Organization Research Vol. 6 No. 1 (2024): August
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v6i1.2088

Purpose: This study investigates the impact of the digital revolution on everyday life, focusing mainly on the emergence of e-wallets as substitutes for traditional physical wallets, and the adoption of various banking technologies in Bangladesh. Research Methodology: This study examines the utilization of several banking technologies in Bangladesh, including bKash Limited's mobile banking services, which were introduced in July 2011, and offer secure and convenient financial services to individuals with or without bank accounts. Additionally, this study explores the National Payment Switch developed by Bangladesh Bank in 2012, which aims to standardize electronic payments among commercial banks, facilitating cash withdrawals using plastic cards at ATMs and point-of-sale (POS) locations. Results: The findings indicate that bKash Limited's mobile wallet facilitates secure transactions through its highly encrypted Visa technology platform, enabling customers to deposit for various services such as wages, loans, and domestic remittances. However, the availability of bKash is limited to specific networks and areas, with restrictions on the use of bank accounts. Moreover, implementing the National Payment Switch is expected to reduce transaction costs, enhance financial inclusivity, and streamline online transactions by eliminating individual payment networks. Limitations: One limitation of the study is the limited availability of bKash in specific regions and networks, and the restrictions imposed on bank account usage within the system. Contribution: This study contributes to the understanding of the evolving landscape of digital banking technologies in Bangladesh by offering insights into the adoption and impact of e-wallets and other banking solutions. The findings may inform policymakers, financial institutions, and researchers about strategies to enhance financial inclusivity, reduce transaction costs, and promote digitalization in the banking sector.

Impact of consumption values on cashless society: influence of perceived costs Tanha, Moutusi; Bhuiyan, Nayem Mahmud; Mukhopadhyay, Sudipta; Mannan, Sayed Sajib; Nath , Subroto Deb; Islam , Md. Nasirul; Muhammad Al Amin
Annals of Management and Organization Research Vol. 6 No. 3 (2025): February
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v6i3.2090

Purpose: This study aims to investigate the influence of consumption values (functional, social, emotional, epistemic, and conditional) on adopting a cashless society while examining the moderating effect of perceived cost and the mediating effect of cashless readiness. Research Methodology: A quantitative research approach was employed, utilizing a convenience sampling method to collect data from 200 respondents through a survey. Statistical analysis techniques such as structural equation modeling (SEM) were likely used to analyze the data and test the hypothesized relationships. Results: The study reveals that functional, epistemic, and conditional values significantly impact cashless readiness, which in turn affects the adoption of a cashless society. Perceived cost is identified as a significant moderator between cashless readiness and the adoption of a cashless society. Additionally, the findings indicate that cashless readiness partially mediates the relationship between functional, epistemic, and conditional values and the adoption of a cashless society. Limitations: A potential limitation could be the use of a convenience sampling method, which may affect the generalizability of the findings to a larger population. Contributions: The findings of this study could be valuable for mobile financial service providers, banking institutions, and governmental organizations in developing strategies to increase the adoption of digital payment systems. It contributes to the existing literature on consumer behavior and technology adoption, specifically in the context of cashless societies and mobile financial services.

Cash Recycling Machine (CRM) & its impact on customer satisfaction: A study on UCB PLC Tanha, Moutusi; Siddique, Maliha Ahmed; Sumon, Md. Monirul Islam; Nurulhoque, Md.; Sazin, Rawshan; Hossain, Peas
Annals of Management and Organization Research Vol. 5 No. 2 (2023): November
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v5i2.1753

Purpose: The primary purpose of this research is to explore Cash Recycling Machine (CRM) systems and determine customer satisfaction after using CRM services. Research Methodology: To collect data for this research, a questionnaire was created and a survey was conducted to assess user contentment with the Cash Recycling Machine (CRM) of the United Commercial Bank (UCB) PLC. During the investigation of the Cash Recycling Machine (CRM) system, a secondary data source was utilized. Results: An analysis indicates that Almost 97% of respondents regularly utilized CRM services while continuing to depend on conventional banking methods. Nevertheless, a significant proportion of participants (over 20%) frequently employed CRM systems. Specifically, 47% utilize these systems four to seven times each month. This study demonstrates that banks are implementing novel services to entice a larger clientele, while consumers are allowed to utilize the banks' fundamental services, such as making deposits and withdrawals. Limitations: Banks are restricted from accessing crucial information owing to data privacy concerns. Furthermore, the use of secondary data may not adequately reflect the perspective of UCB PLC, owing to scalability issues. Ultimately, the limited sample size is a result of clients' strong unwillingness to allocate time for research. Contribution: This study and its implications can be used for additional research in emerging economies to comprehensively examine the adoption of new technologies in the banking industry. Novelty: The core reaction of consumers to an emerging technology for rapid economic growth.

The correlation of cashless banking and profitability in the banking industry in Bangladesh Tanha, Moutusi; Alam, Md. Karimul; Mahmud, Sultan; Hossain, Shahadat; Alam, Murshed; Sabahel, Md. Al
Annals of Management and Organization Research Vol. 5 No. 3 (2024): February
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar

Purpose: Cashless banking is an innovative banking policy that is gaining prominence in today's digital era of technological advancement. This study investigates the correlation between profitability of the banking sector and adoption of cashless banking in Bangladesh. Research Methodology: The profitability of the cashless banking industry in Bangladesh was measured using Return on Equity (ROE) and Return on Assets (ROA). Profitability is determined by the transaction volume of Mobile Financial Services (MFS), Automated Teller Machines (ATMs), bit cards, and internet banking fund transfers (IBFT). This study uses a multiple regression approach to analyze the association between a bank's profitability and cashless banking. The data used in this analysis were collected from the annual reports of the Central Bank of Bangladesh over a seven-year period. Results: The findings indicate that IBFT has a notable favorable influence on return on equity (ROE), whereas ATM and debit cards have major adverse impacts on ROE. Additionally, mobile financial services (MFS) and IBFT have a positive effect on return on assets (ROA), but debit cards have a negative effect on ROA in Bangladesh’s banking business. The data indicate that nearly all the components have either a positive or negative influence on ROA or ROE. Contribution: However, only IBFT has a positive and substantial influence on ROA and ROE. The results of this study have moderate importance for the regulatory bodies and stakeholders of both banks and non-bank financial firms as well as for academics and the government as a whole.

Factors influencing the development of the cashless payment system: Comprehending the function of the involved participants Tanha, Moutusi; Dolon, Md. Mohibul Alam; Al-Amin, Al-Amin; Nadi, Nusrat Afrin; Islam, Md. Monirul; Ali, Md. Hazrat
Annals of Management and Organization Research Vol. 5 No. 4 (2024): May
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v5i4.1959

Purpose: The prevalence of cashless payments has increased globally owing to their myriad benefits. Furthermore, the use of cashless payments has also increased. Nevertheless, there is a need for more comprehensive research on the acceptance and current methodologies of cashless transactions. This study aims to gain a thorough understanding by identifying the entities involved and their pivotal functions in the payment ecosystem. Research Methodology: This report seeks to answer two research questions: i) Which factors are involved in the cashless payment ecosystem? What key elements influence the players in adopting a cashless payment ecosystem? Six key ecosystem players and their influencing elements were identified by comprehensively evaluating 63 publications published between 2015 and 2021. Results: Several benefits are associated with cashless payments, which have led to their growing popularity worldwide. Furthermore, during the COVID-19 epidemic, there was a significant increase in the use of cashless payment methods. Limitations: On the other hand, more holistic studies on the widespread use of cashless payment methods and their respective modern behaviors are needed. Contribution: In addition to providing a foundation for further empirical research, this study contributes to resolving adoption-related concerns. Novelty: This study’s original approach to understanding the various elements driving cashless payment system development by focusing on participant roles and functions is unique. Unlike previous studies, this study examines human dynamics rather than technology or regulatory issues.

Factors impacting user acceptance of e-wallets in Bangladesh's transition towards a cashless society Tanha, Moutusi; Islam , Nurul; Priya, Farhana Akter; Emran, Mohammad Zonaed; Mahmud , Tanvir; Mortuza, Md.
Annals of Management and Organization Research Vol. 6 No. 1 (2024): August
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v6i1.2088

Purpose: This study investigates the impact of the digital revolution on everyday life, focusing mainly on the emergence of e-wallets as substitutes for traditional physical wallets, and the adoption of various banking technologies in Bangladesh. Research Methodology: This study examines the utilization of several banking technologies in Bangladesh, including bKash Limited's mobile banking services, which were introduced in July 2011, and offer secure and convenient financial services to individuals with or without bank accounts. Additionally, this study explores the National Payment Switch developed by Bangladesh Bank in 2012, which aims to standardize electronic payments among commercial banks, facilitating cash withdrawals using plastic cards at ATMs and point-of-sale (POS) locations. Results: The findings indicate that bKash Limited's mobile wallet facilitates secure transactions through its highly encrypted Visa technology platform, enabling customers to deposit for various services such as wages, loans, and domestic remittances. However, the availability of bKash is limited to specific networks and areas, with restrictions on the use of bank accounts. Moreover, implementing the National Payment Switch is expected to reduce transaction costs, enhance financial inclusivity, and streamline online transactions by eliminating individual payment networks. Limitations: One limitation of the study is the limited availability of bKash in specific regions and networks, and the restrictions imposed on bank account usage within the system. Contribution: This study contributes to the understanding of the evolving landscape of digital banking technologies in Bangladesh by offering insights into the adoption and impact of e-wallets and other banking solutions. The findings may inform policymakers, financial institutions, and researchers about strategies to enhance financial inclusivity, reduce transaction costs, and promote digitalization in the banking sector.

Impact of consumption values on cashless society: influence of perceived costs Tanha, Moutusi; Bhuiyan, Nayem Mahmud; Mukhopadhyay, Sudipta; Mannan, Sayed Sajib; Nath , Subroto Deb; Islam , Md. Nasirul; Muhammad Al Amin
Annals of Management and Organization Research Vol. 6 No. 3 (2025): February
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v6i3.2090

Purpose: This study aims to investigate the influence of consumption values (functional, social, emotional, epistemic, and conditional) on adopting a cashless society while examining the moderating effect of perceived cost and the mediating effect of cashless readiness. Research Methodology: A quantitative research approach was employed, utilizing a convenience sampling method to collect data from 200 respondents through a survey. Statistical analysis techniques such as structural equation modeling (SEM) were likely used to analyze the data and test the hypothesized relationships. Results: The study reveals that functional, epistemic, and conditional values significantly impact cashless readiness, which in turn affects the adoption of a cashless society. Perceived cost is identified as a significant moderator between cashless readiness and the adoption of a cashless society. Additionally, the findings indicate that cashless readiness partially mediates the relationship between functional, epistemic, and conditional values and the adoption of a cashless society. Limitations: A potential limitation could be the use of a convenience sampling method, which may affect the generalizability of the findings to a larger population. Contributions: The findings of this study could be valuable for mobile financial service providers, banking institutions, and governmental organizations in developing strategies to increase the adoption of digital payment systems. It contributes to the existing literature on consumer behavior and technology adoption, specifically in the context of cashless societies and mobile financial services.

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