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Table 4 The risks of losing banking projects in PSP companies

From: Risk identification and prioritization in banking projects of payment service provider companies: an empirical study

Main risks Sub-risks
Recipient production process (A) A1: Inappropriate marketing of the executive staff
A2: Inappropriate marketing of the bank
A3: Inappropriate marketing of the agencies
A4: Absence of a suitable program for identifying and attracting specific recipients(VIPs)
Terminal establishment process (B) B1: No timely allocation of the devices
B2: No timely installation of the devices
B3: Lack of adequate training of staff on how to work with the devices
Supporting process (C) C1: No timely repairing of faulty terminals
C2: Undesirable rolled up to the recipients
C3: Inappropriate call center response to financial problems
Recipient retention and satisfaction process (D) D1: Failure to provide the devices with desirable quality and hardware specifications
D2: Inappropriate quality of device software
D3: Frequent technical problems
D4: Failure to meet customer needs
D5: Not paying attention to specific recipients (VIPs)
D6: No paying attention to complaints
D7: Lack of suitable program for keeping specific recipients (VIPs)
Executive interaction with bank (E) E1: Successive changes of the project managers and experts
E2: Changes of bank managers and their approaches to the PSP company
E3: Inappropriate strategy of central office personnel
E4: Failure to comply with work ethics
E5: No timely response to bank requests
E6: Timely request for status
E7: Inappropriate behavior of personnel of agencies with the bank branches
E8: Bank’s dissatisfaction with the company
E9: No timely delivery of the devices
E10: Repeating infringements
E11: Failure to provide reports and clarifications for highlighting company achievements
The terms of contract and commitment (F) F1: Inappropriate contract with unreasonable terms
F2: Failure to adhere to the terms of the contract and mutual obligations
F3: Lack of proper planning for achieving the goals of the project
F4: Disclosure of confidential information and documents of bank’s customers
Company credibility and power (G) G1: Background of failure in other banking projects
G2: Increasing dissatisfied recipients
G3: Absorbing undesirable recipients
G4: Decreasing special recipients (VIPs) and attracting them by competitors
G5: Lack of covering the operating costs with incoming payments
Efficiency of agencies (H) H1: The inability and inappropriate financial situations of the provincial agencies
H2: No financial support of agencies from the central office
H3: Lacking sufficient standards and capabilities
Technical and operational (I) I1: Failure to establish a secure, stable and high-speed network
I2: Failure to quickly implement market needs
Research and development (J) J1: Lack of innovation and initiative in accordance with customer needs
J2: Lack of study and identification of market needs
J3: Being behind of competitive market
Advertising (K) K1: Being unknown in the market
K2: Lack of a quick notification of the company’s latest achievements for market penetration