Obtain one (1) peer-reviewed (scholarly) article that is unique from your teammates, and relevant to the business problem
or research question.
Write a one-page paper, in an APA format, to include:
• Write out the team business problem or research question.
• Summarize briefly the salient points of the article.
• Explain each article’s importance on the RQ.
• Include proper in-text citations and references.
You can also do a creditable research online about Century National Bank - Account Balances and ATM Usage.
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Century National Bank
The community bank, Century National Bank (CNB) has greater than a hundred years of service to their community; in the present-day they service six counties in southeast Ohio. They have developed by "leaps and bounds" providing the community a bank where the spotlight remains on servicing their customers (Century National Bank, n.d.). CNB merges grand services with expedient banking and astonishing client service. CNB recognizes individual monetary needs and targets services for each customer. It provides extended hours in banking centers plus ATM's, Online Banking, Online Bill Pay, and Telebank to make it easy and convenient for clientele to take care of all their financial responsibilities. CNB remains committed to helping their communities thrive and prosper (Century National Bank, n.d.).
Team B has chosen Century National Bank to research the impact of ATM usage on account balances and bank services. The team will discuss the purpose of the research, a description of the research problem, and explain why the research problem is important for Century National Bank. The paper will define the problem, explain three possible outcomes of the research, and provide operational definitions of the study variables. Finally, the team will briefly explain the steps to complete this research project.
Purpose and Definition of Research
The purpose of this research is to determine any correlations between customer behaviors. The goal is to use this knowledge to create or adjust products and services that meet the needs of CNB's customers. For instance, how does CNB and its customers benefit if they were to add deposit capabilities at all of their ATM's. Would doing so increase ATM usage and raise account balances? Another purpose is to deepen CNB's knowledge of customer behavior and discover new directions for further research.
Team B will study the relationship between the number of transactions done with ATMs and the corresponding account balances and bank services used. The question is if ATM usage impacts account balances and bank services positively, negatively, or not at all. The research is being performed so that CNB can improve customer service and capital investment.
This research is targeting CNB's customers. CNB is most concerned with how its own customers interact with their services. Statistical analysis will be performed that determines the possible relationships between the different variables.
Research Question
The science of statistics encompasses a wide range of subjects and studies. Used to assist researchers in analyzing and understanding data, statistics are an extremely useful tool because they provide information specific to the hypothesis at hand. The question is: What impact does Automated Teller Machine (ATM) usage have on account balances and bank services? There are different possible outcomes that will result from this research.
Three Possible Research
Outcomes
ATMs provide customers with a do-it-yourself type of service, enabling individuals the opportunity to complete small-scale transactions without the aid of a teller or even walking into a bank. One of the possible outcomes from this particular research is the revelation that the easy access and use of ATMs results in more daily personal transactions and less traffic through the drive-through or visits into the lobby. This may cause a corresponding drop in the use of bank services. This might adversely affect CNB's profits. Additionally, account balances stand the chance of being negatively affected. It is possible that increased usage of ATMs causes people to spend more money resulting in less actual funds and more negative balances.
Another possible outcome revealed by the research regards the rates imposed by many ATMs. Certain transactions require an additional fee to be completed, whereas physically walking into a bank would only require time and travel. The impact of the fees may result in fewer transactions through the ATM and an increase in bank services as utilized by tellers. However, this is also a conditional situation as the charges associated with ATMs are specific to certain transactions. Account balances in this case would likely remain at a constant since often the inconvenience of fees and travel to a bank both outweigh the want for unnecessary items.
A third outcome occurring from the research is more closely monitored account balances in addition to less use of physical bank services.
ATMs are located in many different areas, often without being connected to a bank itself. Customers are able to check their account balances and transaction history without traveling to a bank. Therefore, bank services are slight and account balances remain well maintained.
Operational Definitions of Variables
This study considers three different variables. These variables each have an operational definition and a level of measurement.
ATM Usage
ATM usage is the use of ATM machines by CNB customers. ATMs are automated teller machines that are located in various convenient locations. Customers can access account information, receive cash, and make deposits without having to make a trip to the bank. This variable is measured by counting the number of times a customer uses an ATM machine within a month. This level of measurement is the ratio scale.
Account Balances
The account balance is the average amount of money on balance for one specific account. This balance is the cleared balance at the bank and does not include outstanding items like un-cashed checks. The ratio scale is the measurement scale for this variable.
Bank Services
CNB has different financial and other services offered to customers. These services may include money orders, wire transfers, and medallion signatures. This study is counting the number of services used by a customer in a month. The ratio scale is the level of measurement for this variable.
All three variables have the same level of measurement. They all have difference, order,
distance, and a unique origin. That means that the variables are discrete. A customer either used the ATM or they did not. They have rank and distance in the count of times a customer uses the atm. Finally they have a unique origin. Each variable has a zero origin. A customer could have zero ATM uses or it could have a positive number of uses.
Remaining Steps in the Research Process
The remaining steps we will be collecting the data, examining and measuring is the quantitative data, analyzing the data, and presenting a conclusion. Statistical analysis will be a large part of testing the relationships between the different variables in question.
Conclusion
In conclusion, the purpose of this research is to determine any new financial relationships that may benefit CNB's customers and to create products and services to support those needs. ATMs provide customers with a do-it-yourself type of service, enabling individuals the opportunity to complete small-scale transactions without the aid of a teller or even walking into a bank. Customers can check their account balances and transaction history without traveling to a bank. This research will test the impact ATM usage has on the account balances and bank services. There are three possible outcomes to this research. CNB will use the results of this research to make important strategic decisions and possibly determine future research opportunities.
Reference
Century National Bank. (n.d.).About Us. Retrieved from https://www.centurynationalbank.com/AboutUs/Pages/default.aspx