Contents

1- Introduction ........................................................................................................................................... 4

Objective: .................................................................................................................................................. 6

2- Theoretical basis and background of the research .............................................................................. 6

The services/facilities available at ATMs .................................................................................................... 11

The survey focused on: .......................................................................................................................... 12

Survey Sample ......................................................................................................................................... 12

Key Findings .............................................................................................................................................. 13

Social responsibility ..................................................................................................................................... 16

Service process design and perceived waiting time ...................................................................................... 19

Financial literacy .......................................................................................................................................... 20

3-Literature review ..................................................................................................................................... 29

3. Research Methodology ............................................................................................................................. 31

Exploring the factors affecting in increase waiting of

customer service in Egyptian public bank (national bank

of Egypt case study)

1- Introduction

Waiting for customers in the Egyptian public banks

In this study, we try to explore what are the causes that lead to increased customer

waiting public banks, especially the National Bank of Egypt as a study case.

As a result of the privatization and the emergence of private banks, investment and the

intensity of competition between the Banks and each other. Was the public banks and

state-owned banks be cautious of leakage customers to foreign banks or investment.

A fiercer level of competition is becoming the most influential factor in the structure and

activities of the banking system around the globe. Banks are competing not only with

themselves, but also with other financial institutions within the financial industry. In a

plural society such as in Egypt.

And the loss of many investment opportunities or the profits of many of these banks for

not satisfying the customers and solving this problems. It is also the result of the social

responsibility of these banks and acting as some of the activities of the government, such

as pension and payment of salaries

These banks had to solve the problem and increase the number of branches and the

renovation work procedures and facilitate even works to reduce the waiting time of the

customers or the customers of these banks classification of a small and large customers.

In this study, we are trying to explore through the presence of a practical customer

service NBE branch Mansoura What are the reasons that lead to a strong increase in the

bank waiting for customers

Theproblemofwaitingisimportantinserviceactivities,whencustomersarepassive,

oftenstandinginaqueue.Thispaperreviews18publishedempiricalstudiestoidentifygroupsof

factorsandtheirinfluenceonwaiting customers.Some groupsoffactorsrevealsignificanteffects,such

aslack of E-banking; otherssuchasinternal factorsare disappointing.

Theseresultsalterourvisionofthephenomenon,andleadto newdirectionsforfurtherpractical

ortheoreticalinvestigations,forexamplereintegratingthenon-lineareffectsoftimeinthestudy

ofwaiting,exploringtheexpectationphenomenonanditsvariations,classifyingcustomersand

situationsinordertomanagecriticalwaitingcircumstancesbetter.

Forovertenyears,waitmanagementhasbeen studiedbyresearchers,asan aspectof

theincreasingimportanceof timeintheconsumerbehaviorfield

(Jacobyetal.,1976,Bergama1988;MownandMown1991;Sunnier1991).

Howcanwehelpcustomersduringthe wait?Howcanwemakethistimemore

agreeable?Howcanweavoidimpatience?Howcanwegivemanagersrelevant

recommendationsconcerningthisweaknessinthequalityoftheirservice?

Thissubjectisimportantbecauseoftheincreaseofserviceactivitiesinour economicenvironment,

andbecause of the increasing value of time for customers. In additionthis subject is complex.It

concernsthe intimate

perceptionsofthepersonwaiting,andhis/hermentalstateduringtheservice

delivery.Aswewillsee,empiricalstudieshaveoftengivensurprisingresults.

Theaimofthispaperistosummarizetheempiricalresearchonthewait

experience.We found about 30 publications exclusively on waiting, in academicjournals

orproceedings.Amongthem,18reportonempiricalstudies,

basedeitheronlaboratoryexperimentsoronfieldstudies.Thefirstpartofthis

articlewill reviewthestudies,lookingatthefirsttwopublicationsonwait managementto

illustratetheapproach,andexamining otherstosumupthe

resultsinatable.Thesecondpartofthisarticlewilldiscusstheseresultsfactor

byfactorinordertopresentpracticalandtheoreticalconclusions.

In this study we have the main problem is the high of a period of waiting for the

customers of banks Egyptian public.

Keywords:Internetbanking,bankingwebsite,work rules and

procedures,finance illiteracy, ATM

Objective:

In this study, we are trying to explore through the presence of a practical

customer service NBE What are the reasons that lead to a strong increase in the

bank waiting for customers

Scope and Limitation This research study only covers the waiting time to customers in public bank in

Egypt. As there are numerous studieson waiting time. Theoutcome of this study

is limited only to the data gathered from books and journals about waiting on

time for customer services and from the primary data gathered from the result of

the questionnaire survey and interview that will be conducted by the researcher

2- Theoretical basis and background of the research

2-1 Waiting customer services

Customer waiting means waiting for the bank customer for the service

they need from the bank has lengthened the duration of the service or

shortened depending on the quality of service.

The client waits space allocated to it in the bank parking lot to hear his

own or at the office, which is served

The possibility of the loss of activity due to leave the customer service line

before they receive the service or refuse to wait ab initio.

The possibility of loss of reputation. Low probability of customer

satisfaction.

The likelihood of confusion in the rest of the entity's business and / or

customers.

2-2 E’ banking:

Electronic banking has become a necessary survival weapon and is fundamentally changing

the banking industry worldwide. Today, the click of a mouse offers bank customers services at

a much lower cost and also empowers them with unprecedented freedom in choosing vendors

for their financial service needs. No country today has a choice-whether to implement E-

banking or not given the global and competitive nature of the economy. Banks have to

upgrade and constantly think of new innovative customized packages and services to remain

competitive. The invasion of banking by technology has created an information age and

rendered banking services more appealing.

What’s the Internet banking?

According to Arunachalam and Sivasubramanian (2007),

Internet banking is where a customer can access his or her

bank account via the Internet using personal computer

(PC) or mobile phone and web-browser. In addition,

Ongkasuwan and Tantichattanon (2002) further defines

Internet banking service as banking service that allows

customers to access and perform financial transactions

on their bank accounts from their webenabled computers

with Internet connection to banks' web sites any time they wish internet banking service.

Internet banking (IB) refers to the banking services provided via a secure website operated by

the bank provider, thus facilitating the useof the Internet as a remote delivery channel.

Internet banking allows bank customers with appropriate access to manage their finances

with minimal inconvenience as it provides a fast and convenientway to undertake various

banking transactions via the Internet banking website from home, office or elsewhere, 24

hours a day, 7 days a week. In Malaysia, Internet banking services havebeen operationalsince

the year 2000. Currently, only banking institutions licensed under the Banking and Financial

Institution

Online banking (Internet banking or E-banking) allows customers of a financial institution to

conduct financial transactions on a secured website operated by the institution, such as

withdrawals through cash dispensers or transfer of funds at point of sale.

To access a financial institution's online banking facility, a customer having personal Internet

access must subscriber with the institution for the service, and set up username and password

in order to able to access his account and make any transaction through the web site (24*7)

which give him the facility to access his account any time using his username and password.

Some online banking setup additional security steps to the access the banking account like

secure key generated after entering pass code in order to make accessing the account more

secure.

Online banking facilities offered many features and capabilities in common and some are

application specific. The common features divided into several categories:

1. A bank customer can perform non-transactional tasks through online banking, including

• viewing account balances

• viewing recent transactions

• downloading bank statements, for example in PDF format

• viewing images of paid cheques

• ordering cheque books

• download periodic account statements

• Downloading applications for M-banking, E-banking etc.

2. Bank customers can perform transactional banking tasks through online banking,

including:

a. Funds transfers between the customer's linked accounts

b. Paying third parties, including bill payments (BPAY).

c. Investment purchase or sale

d. Loan applications and transactions, such as repayments of enrollments

e. Register utility billers and make bill payments

3. Financial institution administration

4. Management of multiple users having varying levels of authority

5. Transaction approval process

6. The process of banking has become much faster

Advantage& Disadvantage of internet banking

Advantages of Internet banking

1. Convenience

Sometimes there just isn’t enough time in the day to get everything you need-to-do done,

that’s why convenience is one of the biggest advantages of online banking. With business

hours ranging from approximately 9 am to 2pm

2. No Lines

One of the things most people dislike about banks is waiting in line. It is not uncommon to

find yourself waiting in line at a bank, waiting to be helped. By banking online, you don’t

have to wait in line to get your baking done, leaving you with more time to get other things

done

3. Availability

With online banking, you can keep track of your money much easier because your account

information is available anytime online. To get your balance, simply login to your account.

Avoid getting stuck waiting for the bank to open again, having to visit an ATM, or calling a

time consuming customer service number to get the same information. You can even save

money, since some ATMs and customer service calls charge a small fee to get your account

balance.

4. Innovation

We all are seeking a convenient and innovative way to handle our personal finances,

consider banking online. In addition to the advantages listed above many online accounts

include features like online bill pay which helps you save time and money when paying bills.

Many online banks also offer the convenience of checking your account information from

your cell phone. Check your balance by SMS or receive alerts when money is withdrawn or

a check clears. In many ways online banking provides a better experience than a physical

bank branch thanks to these new features.

Disadvantages of Internet banking

1. Banking relationship

Customary banking allows creation of a personal touch between a bank and its clients. A

personal touch with a bank manager for example can enable the manager to change terms in

your account since he/she has some discretion in case of any personal circumstantial change. It

can include reversal of an undeserved service charge. –

2. Security matters

Direct banks are governed by laws and regulations similar to those of customary banks.

Accounts are protected by law.

3. Education Level an internet access limited

Egypt have over 50 % Illiteracy so this customer can’t use internet in the other hand there

are limited internet coverage specially in upper Egypt and region out of Cairo

Internet banking in Egypt

ListofInternetBankinginEgypt byBankingProviders

NBE

HSBC

CIB

Ref.

http://bankingandsavings.com.au/2013/04/25/advantages-and-disadvantages-of-internet-banking/

http://www.accountnow.com/content/online-banking/4-advantages-of-online-banking-2/

Khaled A. Gad ,Costumers’ Satisfaction with Online Banking: A Case Study on HSBC Egypt

http://ageconsearch.umn.edu/bitstream/19246/1/sp05ka03.pdf

2-3The spread of automated teller machines and the diversity of its services

*(ATM) definition

Automated Teller Machine is a computerized machine that provides the customers of banks

the facility of accessing their accounts for dispensing cash and to carry out other financial

transactions without the need of actually visiting a bank branch.

Type of cards can be used at an ATM

The ATM cards/debit cards, credit cards and prepaid cards (that permit cash with drawl) can be

used at ATMs for various transactions.

The services/facilities available at ATMs

. In addition to cash dispensing ATMs may have many services/facilities such as:

Account information *Cash Deposit ,Regular bills

payment, Purchase of Re-load Vouchers for

Mobiles, Mini/Short Statement ,Loan account

enquiry etc.

The survey focused on:

This fall, Wincor Nixdorf (www.wincor-nixdorf.com), one of the worlds’s leading providers of IT

solutions and services to retailers and retail banks, commissioned its first annual survey on

consumers’ ATM usage.

Knowledge, preferences and trends regarding ATM use

- User frequency, location and preferences

- Types of transactions conducted

- Pain points related to deposits, withdraws and other

ATM functions

• Desires and benefits of key ATM technologies, including

Intelligent deposit capability and one-to-one marketing

Survey Sample

The survey polled 200 consumers in the United States between the ages of 18 and 64 who visit

the ATM more than three times each month. The survey responses were almost equally split

between male (52%) and female (48%). Additionally, 63% of respondents primarily bank with a

large national bank and 20%primarily interface with a regional or community bank.

The remainder of the sample directly bank with credit.

Key Findings Overall, the findings of the survey revealed that consumers' desire more automated banking

processes:

• Consumers prefer to interact with an ATM rather than a teller

• More people prefer to make deposits at their ATMs than with a teller at their bank

• Cash and check deposit functionalities are key to the ATM

• The majority of respondents with envelope-less deposit capability feel this capability is

important and most of the people in this group use this feature at least three times per month

63%20%

17%

200 consummers

large national banke

community banks

bank with credit unions

Consumers Prefer the ATM vs. the Teller

Consumers prefer to use the ATM for their banking transactions. 74% of respondents hope that

one day, their ATM will offer all of the functionality and services as their teller

Features and Functionality at the ATM are Key Priorities for Consumers

74%

26%

consumer prefer ATM

consumers prefer use ATM

prefer teller

Envelope-less cash/check deposit saves time. More than 50% of consumers say they save at

least two or three minutes using envelope-less cash/check deposit compared to using an ATM

that requires a deposit slip.

Banks that offer envelope-less cash/check deposit have a clear competitive advantage. 63% of

the entire sample agreed that, if all else was equal, and one bank offered envelope-less cash

and check deposit and another didn’t, they’d prefer the bank with this functionality.

Conclusion

This survey validates that consumers are truly craving automation in their financial

transactions—preferring any feature and functionality that saves time and money.

Additionally improve, develop and displays new future & functionality of ATM represented

64%

34%

consumer prefer more ATM feature

consumer provied more fututure

depended on teller for more sevies

positive contributed to reduce number of query in the front tellers and main competitive

advance for banks.

Literature review

There are strong relationship between spread atm and its services which effect

on customer to inter to bank for receives some services and the customers can

take most of service by atm which finally effect on waiting customer services ,

Social responsibility

Definition of social responsibility of business:

The obligation of an organization's management towards the welfare and interests of the society in which it

operates.

Source: Read more: http://www.businessdictionary.com/definition/social-responsibility.

Social responsibility of governmental bank:

Question1: is social responsibility has an effect on the waiting time of customers is the bank?

Variables:

1- Operational decision

2- Segmentations….Mediating variable.

Summary:

Social responsibilities with the literal meaning of the term have no effect on the waiting time itself.

Social responsibility means the side activities will be contacted by the bank to help and support the society

like funding small projects, building schools, education scholarships.

Our main point here is the operational responsibility of increasing and expanding segments and targeting

with in the same segments.

Example:

Taking operational decision of dealing with retired employees and allow them to get their salary from the

bank.

For the bank, it's good decision to increase its operational working capital in which that will increase the

revenue of the bank at the end.

Negative impact will be on the customer itself, at some certain days during the month the number of

customers will increase because everyone will get his salary.

Solutions:

Allow the employee to get their salary by ATM, or sending their salary to the nearest post office, or have a

section in the bank to be responsible for this process.

Solution out of the box:

Establishing a delivery company to deliver salary with a fee to the retired employees.

Sources:

1-Ad Pruyn, Ale Smidts

Effects of waiting on the satisfaction with the service: Beyond objective time measures1

International Journal of Research in Marketing, Volume 15, Issue 4, October 1998, Pages 321–334

Article

2- Case Study : Monitoring and analysis of Customer Waiting Time – (Banking)

Literature review:

The experience of waiting for service is often the first direct interaction between customers and most service

delivery processes.

The literature on satisfaction with waiting has paralleled the literature on general service satisfaction, in

which the relative importance of actual performance, perceived performance, and the disconfirmation

between expected performance and perceived performance has been the subject of much debate.

This paper presents an empirical study of satisfaction with waiting for service in a fast food environment.

The study demonstrates that actual waiting time, perceived waiting time, and the disconfirmation between

expected waiting time and perceived waiting time are all related to satisfaction with the waiting experience.

It further demonstrates that the relative importance of each of these variables in predicting satisfaction

depends on the differences in the needs of the customers.

The implications for both theory and practice are significant: the importance of the perception of the

experience increases as the importance of the satisfaction measure increases.

More specifically, for customers who are concerned about time, the perception of the time spent waiting is a

better predictor of satisfaction than the actual waiting time.

A major concern for service managers is to counteract negative effects of waiting.

In this study, the effects of objective waiting time and waiting environment on satisfaction with the service

were investigated.

Two elements of the waiting environment were distinguished:

1-the attractiveness of the waiting room

2-the presence of television (TV) as an explicit distracter.

The mediating role of three subjective variables

1-perceived waiting time

2-acceptable waiting time

3- the (cognitive and affective) appraisal of the wait) was explored.

Waiting appears to influence satisfaction quite strongly. The adverse effects of waiting can be soothed more

effectively by improving the attractiveness of the waiting environment than by shortening the objective

waiting time.

Objective waiting time influences satisfaction mainly via a cognitive route: through perceived waiting time (in

minutes) and the long/short judgment of the wait. Perceived attractiveness of the waiting environment

operates mainly through affect, and thus serves as a mood inducer. The acceptable waiting time appears to

be a critical point of reference, since surpassing it provokes strong affective responses. Although the

presence of TV did not result in the expected effect of distraction, the tendency to watch it was found to be

dependent on the length of the wait (and thus, boredom).

Keywords

Time perception;

Waiting environment;

Waiting tolerance;

Cognition;

Affect;

Distraction

Service process design and perceived waiting time

Service process design is an important way that businesses use to improve service operations

and reduce customer waiting . Process design decisions such as the number of lines to be

formed, how customers join waiting lines, and how each line is served play a major role in

determining how long customers have to wait for service and consequently its service quality .

For each service, there are some alternative process designs that can be used to deliver the

service. Di7erent service process designs may exhibit varying abil- ities of dealing with server

=exibility, demand =uctuation, and customer arriving patterns .

In addition to waiting time, it is also conceivable that service process designs may have an

impact on customer expected and perceived waiting time. Thus, when considering service

process change, we should not only evaluate its e7ect on actual average waiting time but also

consider its impact on customer perceived waiting time.

3.1. Old process

The old service process required customers to wait in aFIFO line to place an order for the pizza slices desired.

3.2. New process

We can specialize some people or office to handling services such as

1- Group specialize to retail banking ( personal loans , auto loans, credit card )

2- Group specialize to open account and solve problems

3- Group to deposit money over than 500.000 EGP

4- Open office allocate RM (relationship manager )

. This redesigned process was selected because it wasthought to o7er the following bene”ts:

1. Reduced waiting times for all customers due to shorter lines and less time spent deciding on which pizza

to order,

2. An improved match between the production and demand of services, and

3. The possibility that additional sales volume would be generated because of the reduced waiting time, and

that the added revenue would likely more than compensate for the added labor cost.

Financial literacy

Financial literacy concepts is still emerging one that need a lot of efforts to obtain thei reap but

there is a great potential for them in Egypt and they will prosper.

In our study we ask if the customer culture effect the rate of customer waiting and caused the

hole of the public banks very crowed sometimes the customer do not know how he can do his

service or what service he need exactly ?

On the other hand some banks for achieve their targets in the product tend to carry his clients

by product they do not need it because those client have financial illiteracy.

Although if their customer have financial information they can contribute in doing the services

in banks and less the rate of waiting customer in banks.

As the world becomes more financially integrated & complex, individuals are facing highly

sophisticated and irreversible financial decisions. They need to make many financial decisions

during life time. From these decisions: marriage of sister / daughter, one's own marriage,

children's higher education, saving for retirement, etc.

Everyone saves money for future needs but what they save is surplus money without preparing

Household budgets or prioritizing personal financial goals or properly allocating investments in

different asset classes and without understanding the real rate of return (after adjusting for

inflation). Investors tend to use thumb rules or seek advice from friends and relatives. Most of

the time these are poor approximations compared to those that follow from a systematic

process.

These results often in poor outcomes and they lose faith in the financial sector. As a result of

that financial literacy is essential for individuals in order to make sound financial decisions.

Financial literacy is defined as a set of financial skills that informs decisions, affects behavior

and ultimately leads to financial security over the life course. It is a combination of awareness,

knowledge, skills, attitude and behaviors necessary to make sound financial decisions and

ultimately achieve individual financial wellbeing through effective use and management of

money. It stresses the importance of decision making, applying knowledge and skills to real life

processes and indicates that the impact should be improved financial wellbeing. The term can

encompass concepts ranging from financial awareness and knowledge, including of financial

products, institutions and concepts; financial skills, such as the ability to calculate compound

interest payments and financial capability more generally, in terms of money management

and

financial planning.

Financial literacy is a commonly used term but arguably an imprecise one. The concept of

financial literacy borrows from the reading literacy field in assuming that literacy can be taught

and measured.

The President’s Advisory Council on Financial Literacy 2009

defines financial literacy as ‘the ability to use knowledge and skills to manage financial

resources effectively for a lifetime of financial well-being.

as the Council’s definition highlights the

importance of being able to incorporate financial knowledge into one’s decisions and behavior.

Having low level financial skills and knowledge causes making wrong decisions that harm both

individuals and societies. Such problem is so serious and deeper in lower income due to their

less

human and social capitals. Financially illiterate households make poor choices that affect not

only the decision-makers themselves, but also their families and the public at large making the

improvement of financial literacy a first-order concern for public policy.

Many contemporary business leaders, like Peter Dracker and David Garvin introduce

knowledge

as the key factor in any organization that leads to a sustainable competitive advantage for

success. As a result of that in high-income countries financial literacy is often viewed as a

complement to consumer protection.

Many researchers have conceptualised financial literacy in different ways, some of whom

define as a set of financial skills that informs decisions, affects behavior

and ultimately leads to financial security over the life course. It is a combination of awareness,

knowledge, skills, attitude and behaviors necessary to make sound financial decisions and

ultimately achieve individual financial wellbeing through effective use and management of

money. It stresses the importance of decision making, applying knowledge and skills to real life

processes and indicates that the impact should be

processes that organisations employ to manage its contacts with current and

prospective customers improved financial wellbeing. The term can

encompass concepts ranging from financial awareness and knowledge, including of financial

products, institutions and concepts; financial skills, such as the ability to calculate compound

interest payments and financial capability more generally, in terms of money management

and

financial planning.

Financial literacy is a commonly used term but arguably an imprecise one. The concept of

financial literacy comes from the reading literacy field in assuming that literacy can be taught

and measured and in my opinion the literacy .

The President’s Advisory Council on Financial Literacy 2009

defines financial literacy as ‘the ability to use knowledge and skills to manage financial

resources effectively for a lifetime of financial well-being.

as the Council’s definition highlights the

importance of being able to incorporate financial knowledge into one’s decisions and behavior.

Having low level financial skills and knowledge causes making wrong decisions that harm both

individuals and societies. Such problem is so serious and deeper in lower income due to their

less

human and social capitals. Financially illiterate households make poor choices that affect not

only the decision-makers themselves, but also their families and the public at large making the

improvement of financial literacy a first-order concern for public policy.

Many contemporary business leaders, like Peter Dracker and David Garvin introduce

knowledge

as the key factor in any organization that leads to a sustainable competitive advantage for

success. As a result of that in high-income countries financial literacy is often viewed as a

complement to consumer protection.

Financial literacy concepts is still emerging one that need a lot of efforts to obtain their return

but there is a great potential for them in Egypt and they will prosper.

In our study we ask if the customer culture affect the rate of customer waiting and caused the

eat clients in public banks

very crowded sometimes the customer do not know how he can do his service or what service

he need exactly ?

On the other hand some banks for achieve their targets in the product tend to carry his clients

by product they do not need it because those client have financial illiteracy.

Although if their customer have financial information they can contribute in doing the services

in banks and less the rate of waiting customer in banks.

As the world becomes more financially integrated & complex, individuals are facing highly

sophisticated and irreversible financial decisions. They need to make many financial decisions

during life time. From these decisions: marriage of sister / daughter, one's own marriage,

children's higher education, saving for retirement, etc.

Everyone saves money for future needs but what they save is surplus money without preparing

Household budgets or prioritizing personal financial goals or properly allocating investments in

different asset classes and without understanding the real rate of return (after adjusting for

inflation). Investors tend to use thumb rules or seek advice from friends and relatives. Most of

the time these are poor approximations compared to those that follow from a systematic

process.

These results often in poor outcomes and they lose faith in the financial sector. As a result of

that financial literacy is essential for individuals in order to make sound financial decisions.

financial literacy framework that can be adopted in the Egyptian

banking industry.

Financial literacy concepts is still emerging one that need a lot of efforts to obtain their return

but there is a great potential for them in Egypt and they will prosper.

In our study we ask if the customer culture affect the rate of customer waiting and caused the

eat clients in public banks

very crowded sometimes the customer do not know how he can do his service or what service

he need exactly ?

On the other hand some banks for achieve their targets in the product tend to carry his clients

by product they do not need it because those client have financial illiteracy.

Although if their customer have financial information they can contribute in doing the services

in banks and less the rate of waiting customer in banks.

As the world becomes more financially integrated & complex, individuals are facing highly

sophisticated and irreversible financial decisions. They need to make many financial decisions

during life time. From these decisions: marriage of sister / daughter, one's own marriage,

children's higher education, saving for retirement, etc.

Everyone saves money for future needs but what they save is surplus money without preparing

Household budgets or prioritizing personal financial goals or properly allocating investments in

different asset classes and without understanding the real rate of return (after adjusting for

inflation). Investors tend to use thumb rules or seek advice from friends and relatives. Most of

the time these are poor approximations compared to those that follow from a systematic

process.

These results often in poor outcomes and they lose faith in the financial sector. As a result of

that financial literacy is essential for individuals in order to make sound financial decisions.

Question:

The need for financial literacy has become increasingly significant with the deregulation of financial markets

and the easier access to credit; the ready issue of credit cards; the rapid growth in marketing financial

products

and the Government’s encouragement for its citizens to take more self-responsibility for their retirement

incomes.

As the world becomes more financially integrated & complex, individuals are facing highly

sophisticated and irreversible financial decisions. They need to make many financial decisions

during life time. From these decisions: marriage of sister / daughter, one's own marriage,

children's higher education, saving for retirement, etc.

Everyone saves money for future needs but what they save is surplus money without preparing

Household budgets or prioritizing personal financial goals or properly allocating investments in different

asset classes and without understanding the real rate of return (after adjusting for inflation).

Financial literacy is defined as a set of financial skills that informs decisions, affects behavior and ultimately

leads to financial security over the life course.

It is a combination of awareness, knowledge, skills, attitude and behaviors necessary to make sound

financial decisions and

ultimately achieve individual financial wellbeing through effective use and management of money. It

stresses the importance of decision making, applying knowledge and skills to real life processes and

indicates that the impact should be improved financial wellbeing.

Financial literacy skills enable individuals to navigate the financial world, make

informed decisions about their money and minimise their chances of being misled on

financial matters (Beal and Delpachitra, 2003; CBF, 2004b; Raven, 2005).

The seminal definition of financial literacy was ‘the ability to make informed judgments

and to take effective decisions regarding the use and management of money’ (Noctor et

al, 1992). another definition “the ability to balance a bank account, prepare

budgets, save for the future and learn strategies to manage or avoid debt” (CBF, 2004a,

p. 1) and “enabling people to make informed and confident decisions regarding all

aspects of their budgeting, spending and saving and their use of financial products and

services, from everyday banking through to borrowing, investing and planning for the

future” (RMR, 2003, p. 1).

Financial literacy is a commonly used term but arguably an imprecise one. The concept of financial literacy

borrows from the reading literacy field in assuming that literacy can be taught

and measured.

Having low level financial skills and knowledge causes making wrong decisions that harm both

individuals and societies. Such problem is so serious and deeper in lower income due to their less

human and social capitals. Financially illiterate households make poor choices that affect not

only the decision-makers themselves, but also their families and the public at large making the

Improvement of financial literacy a first-order concern for public policy.

Many contemporary business leaders, like Peter Dracker and David Garvin introduce knowledge as the key

factor in any organization that leads to a sustainable competitive advantage for Success. As a result of that

in high-income countries financial literacy is often viewed as a Complement to consumer protection.

INCREASING NEED FOR FINANCIAL LITERACY

The need for financial skills has grown rapidly over the last decade because ‘financial

markets have been deregulated and credit has become easier to obtain as financial

institutions compete strongly with each other for market share’ (Beal and Delpachitra,

2003, p. 65). The ready availability of credit cards together with easier access to

personal loans, interest free and other payment options, has led to an increase in

spending on consumption and a rapid rise in both personal and household debt levels

(RBA 2005, pp. 10-11). Moreover, the development and marketing of financial products

and services has grown rapidly.

Thus, financial literacy will continue to be a prominent research topic and it is expected

that the focus will lean towards the implementation and evaluation of strategies to

improve the financial literacy levels of certain cohorts of populations where a lack of

financial knowledge and skill has been identified by previous research (FLF, 2005b;

RMR, 2003). Further, the high number of people with low levels of financial literacy

presents a serious problem for both the economic well-being of nations and the personal

well-being of such individuals (CBF, 2004a; Morton, 2005; RMR, 2003).

Researchers through many research talked about financial literacy and its relationship to the national

economy or methods of treatment and overcome

Financial Literacy, Financial Education and Economic Outcomes

the Effectiveness of Financial Education

Financial Literacy, Financial Education and Economic Outcomes

Financial literacy: an interface between

financial information and decision-makers in

organisations.

In our study we ask if the customer culture effect the rate of customer waiting and caused the hall of the

public banks very crowded sometimes the customer do not know how he can do his service or what service

he need exactly ?

On the other hand some banks for achieve their targets in the product tend to carry his clients by product

they do not need it because those client have financial illiteracy.

Although if their customer have financial information they can contribute in doing the services in banks and

less the rate of waiting customer in banks.

Question:

Does financial literacy affect the increase of rate of waiting in Egyptian public banks?

Answering the above questions should help the researcher understand and more

Effectively propose a financial literacy framework that can be adopted in the Egyptian

Banking industry.

Another Variable

It is being argued that the increasing level of bank product to support customers is having the opposite

effect the Regulator pressure on banks is likely to increase .

3-Literature review

The relationships between the previously described factors with respect to wait for customer further

expanded upon in the following paragraphs.

E-banking:

The relationship between waiting for customer services and e-banking

We found semi relationship that found in “Lucile Van Kerrebroeck and Josefine Steinhagen”2006(Too

busy to wait in line, just click and bank online- Customer loyalty in web-only banks) he arrived to that

the online banking increased of relationship between customer and his bank. And he got conclusion

when the banks provide the e – banking it will lead to decrease customer in customer are in bank building

WadieNasir (AssistantProfessor) 2011

(Factors Influencing the Adoption ofInternetBanking in Tunisia)

Through my experience in bank .The existence of relationship between e-banking and waiting for

customer in bank. Because if my bank provide most of product cross web bank in NBE, we will find

decrease in waiting in bank.

Service process design and perceived waiting time

Impactofprocesschangeoncustomerperceptionof waitingtime:a”eld study

WenhongLuo∗,MatthewJ.Liberatore,RobertL.Nydick,QB.Chung,ElliotSloane

Department ofDecisionandInformationTechnologies,CollegeofCommerceandFinance,VillanovaUniversity,

Villanova,PA19085,USA

Received7February2002;accepted26September2003

In summary, this study provided a methodology to evalu- ate the impact of process change on customer

waiting time. It demonstrates that we should not only look at the impact of process change on actual waiting

time but also its im- pact on perceived waiting time and customer satisfaction. Future research should

involve replicating the method presented here to other service settings to determine the conditions under

which the process change would lead to improved customer satisfaction. Another research direction

involves developing a comprehensive model of customer satisfaction that includes waiting time as well as

other process outcomes. In addition, future research is needed to determine the conditions under which

process change is (or is not) more e7ective than other types of change (waiting line distractions such as

music) in improving perceived waiting time and customer satisfaction.

Some studies founded the strong relationship between the customer service wait and procedures , process

and rules work .

Based on the literature review

a conceptual model was developed which consisted of the determinants high waiting

customerservices as the independent variables (IV), and of E’banking as the dependent

variable (DV). The model focused on the factors influencing high waiting

customerservices which consists of the relationship of E’banking, ATm spread ,work rules,

customers culture, system valid. The model is summarized in Figure 1

3. Research Methodology

Research Model

Based on the literature review, a conceptual model was developed which consisted of the determinants

of customer loyalty as the independent variables (IV), and of customers’ loyalty behavior as the

dependent variable (DV). The model focused on the factors influencing customer loyalty which

consists of the relationship of service quality, perceived value, trust, habit and reputation with respect to

customer loyalty towards Internet banking websites. The model is summarized in Figure 1.

Conceptual framework diagram

The high rate of customer

waiting

E BANKING

SERVICES

SPREAD ATM

SERVICES

Service process

design and perceived

waiting time

Financial illiteracy

Social

responsibility

Questions:

Is social responsibility has an effect on the waiting time of customers is the bank?

Does financial literacy affect the increase of rate of waiting in Egyptian public banks?

To what extent does E’ banking affecting on waiting in customer servicers?

Does spread ATM and valid it services affect in waiting in customer services?