how to improve the secured transaction system and its impact on customer satisfaction to determine what should be done to secure the spot cash service.

1. Problem Statement
XYBank Bangladesh ltd. Has recently created a service EASY WAYs TO SEND AND
RECEIVE REMITTANCE- Spot Cash Remittance Desk where a beneficiary can get easy
cash taka from their expatriate relatives. This service promises to facilitate sending money
in Bangladehi Taka directly without any bank account.
XY BANK currently has faced a fraudulent activity by using a fake ID. Though XY
BANK use latest integrated software packages to facilitate their service process, there was
an attempt to withdraw money by showing fake voucher. In this case,on 22 January
2012,the cashier found the documents were validated and signed by Forex incharge. The
truth is beneficiary did not visit the spot spot cash desk and submitted the false foreign
remittance cash receipt to the cash counter at the rush hour. He did the same thing
repeatedly at the same day. In this way he withdrew total BDT 290000 by using six fake
spot cash voucher. They found that the given information is the same as the voucher used
in 12th January by Mr. Julius!
Management desires information how to improve the secured transaction system and its
impact on customer satisfaction to determine what should be done to secure the spot cash
service.
Research Objectives:
The purpose of this research is to discover the errors in the spot cash system. Specially, I
intend to identify the reason behind this fraudulent incident and without much hassle to
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2. customer how we can improve the security. Taka Drawing Arrangement of the spot cash
desk is the important targets for investigation because they reveal:
(1)How document validation process affect customer overall satisfaction and evaluate the
beneficiaries attitude towards XY BANK.
(2)Which systems should be immediately improved to elevate the dishonest, indiscreet,
hypocritical nature of people?
Importance/Benefits:
An extra ordinary response by the front desk officer at spot cash counter will preserve and
enhance security and customer satisfaction. Hassle-free easy verification system will
ensure customer satisfaction and XY BANK reputation. Customer wants easy taka
drawing system. High level of user satisfaction translates into positive word of mouth
service endorsement.
This research has the potential for concerning to secured payment system and finding out
the weaknesses of remittance handling system of XY BANK. This study will explore the
attitude and perception of customers towards services provided by XY BANK. It will also
investigate key factors that influence to increase the inflow of remittances through official
channels to meet our internal foreign exchange demand. Hence the subject matter of this
study is of extreme importance
Research Design:
Exploration: Qualitative. I will augment our knowledge by interviewing officers and
beneficiaries.To better understand and analyze the incident interviews will be taken as
expert opinion. The interviewees include-
Md. Anisur Rahman, Senior Officer & System Administrator,FRSD, IBW, XY BANK,
HO.
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3. Md. Nurul Islam, Deputy Managing Director, International Banking Wing
Mahmuda Sultana- foreign exchange incharge
I propose to develop an e-mail survey to remitter.
Quiestionnaire Design:
Some questions for this instrument will be based on the investigative questions according
to that fraud incident and others drawn from the excecutive interviews. We anticipate a
maximum of 10 questions . A new five point expectation scale will be designed. A
comment/ suggestions question will be included. Majority of the customers are from
Dhanmondi branch as the incident happened in this branch.So the data collected may lack
diversification due to the customers limited experience
Data Analysis
The responses to the structured close-ended questions will be rated in percentages.
The percentage of respondents for each alternative will be given and analysed. The data
collected will be analysed using the computer software known as Statistical Package for
Service Solution(SPSS)
Video
Video footage recorded by the CC camera of that day when the fraud incident happened
will be investigated to know the client’s attitude.
Visual analytics is an important part of a layered prevention approach to fraud and
compliance discovery.
Case Study:
A thorough study will be conducted based on the incident happened On 12th January 2012
and 22nd January 2012. To enquire about these transactions, we will search the web page
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4. by using the fake vouchers information. We will also collect the feedback from exchange
house also. There will be an interview with front desk officers to investigate the case.
Once the data that is going to be used for analysis has been identified, the next step is
assigning that data or combination of data points to our visual entities. Lets begin with what
is most often captured during online remittance transactions:
• Sender information including names, date of birth, address, email and phone
• Funding source information such as credit card and bank account numbers
• Recipient information such as name, address, phone and email address
• Recipient disbursement information such as bank account numbers, cash pickup
locations, identification presented and agent names.
• eCommerce information such as IP addresses, cookie information or device ID
fingerprinting information.
All of the data contained in these five categories come together to form the infrastructure
for visual analytics.
Results: Deliverables
• Real-time authentication of receiver details
• Faster problem resolution through efficient technology
• Easy tracking of funds transferred
•Transaction alerts confirming successful transfer and collection
• Alerts reminding customers to transfer money
• Find out the weaknesses in the whole drawing system
Budget
1.Interviews tk 2000
2. Travel tk 1000
3. Communications tk 1200
(Telephone, postage, etc.)
4. Other (Equipment rental, tk 500
etc.)
TOTAL tk 4,700
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