Electronic Banking in Ghana: The case of the Kumasi branches of The Trust Bank
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Date
2008-10-21
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Abstract
Banking has changed. An increasingly innovative and aggressive financial services environment, as well as deregulation, has created more competition and a seemingly endless variety of products. These forces of change have banks moving towards electronic-based channels. Electronic banking services the ultimate factor which differentiates banks and determines whether or not they survive.
This research intends to show how customers and banks perception of electronic banking influences their adoption of electronic banking channels in Ghana. It focuses on customers of a bank that was first in Ghana to offer one of the forms of electronic banking channels (the ATM) and has plans of offering more e-banking channels in the near future. Based on this culture of innovation, The Trust Bank was selected for this research. Questionnaires were administered to customers personally, personal interviews with some experts in the industry were conducted and banking journals and books were researched.
The interesting result is that Convenience was found to be the main driving force that is prompting both banks and customers to go in for e-banking services and while customers perceive security, ease of use, usefulness and information on e-banking as the factors that affect the adoption or non adoption of e-banking, the banks expressed lack of adequate research on e-banking by their customers as the factors affecting provision, adoption and implementation of e-banking services. The adoption of e-banking services will help the banks improve the efficiency of their operations. The effect of providing e-banking services is to make banks less competitive, attract new customers, advance in technology; satisfy their existing customers and to make banks more profitable. Electronic banking also helps banks to adapt themselves to a changing environment and provide quality services.
Description
A thesis submitted to the Department of Accounting and Finance,
KwameNkrumah Univesity of Science and Technology in partial fulfillment of the requirements for the degree of Master of Business Administration, 2008