I also would like to remind, especially the younger members of the profession, of a quote by John F. Kennedy which goes: “To those whom much is given, much is expected.” As trainees and newly qualified chartered accountants many of you have had the benefit of good schooling and tertiary education.
Today’s electronic payments are, however, made more complex (though not necessarily at customer level) with participation of other non-bank entities whose services may be used by banks in the form of outsourcing arrangements or through entities that offer specialised services integral to payment completion. Greater the number of players involved, more complex the process to address customer grievances within the shortest span of time.