The Role of Data Analytics in Bank Fraud Detection and Its Impact on Customer Experience in New Zealand

Thank you for your interest in this research project. This information is provided so that you can make an informed decision about participating in this study.

This project is being undertaken by Mae Therese A. Florita as part of a Master of Professional Practice Level 9 qualification and has been approved by the Whitireia and WelTec | Te Pūkenga Ethics and Research Committee.

What is the purpose of the project?

The purpose of this study is to examine how data analytics-based fraud detection and resolution processes influence customer experiences, financial outcomes, satisfaction, and trust from the perspective of customers who have experienced bank fraud incidents. It seeks to evaluate the effectiveness of detection tools from the customers’ point of view and contribute quantitative evidence to bank fraud detection with the goal of improving bank fraud detection systems and maintaining positive bank-customer relationships.

What type of participant are we looking for?

The participants of the study will be retail bank customers who experienced and reported bank fraud in past five years. Participants must be 18 years or older.

What are the possible benefits and risks of participation?

Benefits

The result of this study may help improve and strengthen the banking sector’s fraud detection systems.

Risk

Participants may experience emotional discomfort when recalling past fraud experiences or financial loss. However, they can skip any question or withdraw from the survey at any time. There will be strict research procedures to be followed to protect participant’s identity.

If you feel upset or would like to speak with someone after participating, you may contact the following free and confidential counselling services available in New Zealand (https://mentalhealth.org.nz/helplines):

· Need to talk? Free call or text 1737 to speak with a trained counsellor (available 24/7).

· Lifeline Aotearoa – Phone 0800 543 354 or free text HELP to 4357 (available 7am – midnight)

What will participants be asked to do?

Participants will be involved in a one-time online survey which they can access through social media or a QR code provided in person. In the first part of the survey, participants will see an information sheet explaining the purpose of the study, eligibility criteria, expected time commitment, risk and benefits, and their rights as participants. Those who agree will provide informed consent electronically before proceeding. The survey will take approximately 10 – 15 minutes. Participants may skip any question and may exit the entire survey at any time without penalty. No follow up contact or additional procedures will occur after survey completion.

Can participants change their mind and withdraw from the project?

Participants have the right to decline to participate in the research project/programme and withdraw from it at any time without providing a reason for their withdrawal, up until the time at which they press ‘Submit’. As answers to this online survey are anonymous, it will be impossible for the researcher to identify their answers to remove them from the data set once submitted.

What information will be collected and what use will be made of it?

The study will collect quantitative information from participants about their personal experiences of bank fraud and how banks detect and resolve the fraud. The survey questionnaire will consist of closed-ended questions, multiple choice questions, and Likert scale items. Participants will be asked the type of fraud they experienced, total financial loss, time taken to detect or whether they receive fraud alerts, stress level, and satisfaction and trust with the bank after resolving the fraud. Researcher will not collect any identifying data from the participants. Researcher will analyse survey data using descriptive and correlation analysis. Descriptive analysis, such as frequencies, means, and percentages, to summarise customer experiences and correlation analysis will be used to examine the relationship between detection timing and customer outcomes.

Data collected will be stored securely in a password protected device which is accessible only to the researcher and the researcher’s supervisor. Any survey responses will be destroyed upon completion of the qualification.

Will the information remain confidential and anonymous, and how will this be done?

All information will be kept strictly confidential within the research team and no names will be used. When the results are published you will not be personally identified. Any information provided by you can be viewed at any time, up until the time at which you press ‘Submit’.

What compensation/reimbursement will I be offered?

You will not be offered financial payment for your participation in this research project.

What if I want more information?

If you have any questions about this project, at any time, you can contact: Mae Therese Florita through email at mae-therese-alas-florita.florita01@student.wandw.ac.nz



Name of researcher: Mae Therese A. Florita

Contact email: mae-therese-alas-florita.florita01@student.wandw.ac.nz



Name of supervisor: Dr. Swati Puri

Contact email: Swati.Puri@weltec.ac.nz