Self-Service Technologies (SSTs) have led to a reduction of and in some instances a complete elimination of person-toperson interactions. However, not all SSTs improve service quality, but they have the potential of making service transactions more accurate, convenient, and faster for the consumer. With the foregoing statements in mind, evaluate the wisdom of introducing SSTs by banking institutions and conclude by commenting on reasons for slow adoption of SSTs in South Africa.

Self-Service Technologies (SSTs) have led to a reduction of and in some instances a complete elimination of person-toperson interactions. However, not all SSTs improve service quality, but they have the potential of making service transactions more accurate, convenient, and faster for the consumer. With the foregoing statements in mind, evaluate the wisdom of introducing SSTs by banking institutions and conclude by commenting on reasons for slow adoption of SSTs in South Africa.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter15A: Auction Design And Information Economics

Section: Chapter Questions

Problem 2.1CE

See similar textbooks

Similar questions

In general, ordinary people only know that bank products and services are limited to conventional savings and loans, even though there are many more. There are many interesting banking products that can be used, including Islamic bank products or Islamic banking products that have not been widely known by the public. Currently, there are several types of Islamic bank products that are tailored to the needs and developments of the times. It should be noted that Islamic banks do not only serve hajj savings or umrah savings, but there are also several other products, including business capital loans. Explain what you know about Islamic products
Discuss the legal and regulatory environment for MFIs in Kenya.
Describe the concept of contingency valuation, and two of its limitations.
Automated teller machines (ATMs) expand bank services, especially since you can withdraw funds from other banks than your own. Should banks be allowed to charge fees to non-customers who use their ATM? What might happen if fees were banned? How would profit-maximizing banks respond? Why do some convenience stores offer “no-fee” ATM machines?
Which of the below is NOT a current characteristic of a cryptocurrency? A) The decentralization involves only two parties in the transaction, i.e., the sender and receiver. There is no third party such as a bank or an investment company to monitor the investor's actions. The blockchain technology will manage the database that has the bitcoin transaction records. B) Cryptocurrencies permit low cost trading and offer anonymity. C)The best part of using cryptocurrency is that every transaction you carry out with the recipient would be unique. You can get into terms negotiation in every deal. D) Cryptocurrencies are relatively low-risk-low return investments suitable for people with fixed incomes since they have fairly stable and predictable values.
Explain the problems of adverse selection and moral hazard caused by asymmetricinformation. How can financial intermediaries alleviate those problems?(b) Explain the Diamond model of delegated monitoring
Why did new technology make it harder to enforcelimitations on bank branching?
How does the fee-for-service payment model impact healthcare delivery and patient outcomes in comparison to alternative payment models?
After a loan has been made to a borrower, what can financial intermediaries do to reduce moral hazard?
Adverse selection and moral hazard are problems caused by asymmetric information. Explain their difference with reference to real daily examples.
Discuss the Benefits and Costs of Delinquency for: Microfinance Institutions Borrower In the field of lending
Suppose the credit market in Triumph, Illinois is described by the schedule shown below. Local financial regulators have set the maximum interest rate for commercial credit at 9%. Interest Rate Quantity of credit supplied Quantity of credit demanded 5% $800,000 $3,500,000 7% $1,100,000 $3,100,000 9% $1,500,000 $2,600,000 11% $2,000,000 $2,000,000 13% $2,600,000 $1,300,000 15% $3,300,000 $500,000 Illustrate this market in a supply and demand graph. What is the market equilibrium interest rate? How many fewer borrowers are there at the mandated interest rate than there would be at equilibrium.