Cashless banking in Ghana. ―a case study of Cal Bank Limited
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Date
2016-08
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Publisher
KNUST
Abstract
Banks introduced IT as an alternative banking to the use of cheques, cash and other
negotiable instruments. With IT, banks are able to offer customer friendly and
convenient products and services. IT has significantly changed the transaction process
in the modern global economy, thereby, meeting the growing demands of customers,
organisations and clients of organisations. It is in light of this development that this
work sought to study cashless banking in Ghana with CAL Bank Ltd. as a case study.
The study adopted a mixed methodology of both quantitative and qualitative techniques
to answer the set of research questions. Questionnaires were developed to gather data
from both staff and customers of CAL Bank Kejetia Branch in the Kumasi Metropolis.
It was found that customers makes use of all other cashless products the bank offers but
mostly uses the CAL Visa Card service and that the majority of the respondents were
satisfied with the bank’s cashless banking services and are even willing to recommend
the bank to new customers. Though customers face some challenges using the services,
they stated that helplines and complaint email address help in efficiently addressing
challenges and thereby boosting bank responsiveness. It is recommended that banks
should invest in promoting and expanding the cashless banking system. Apart from
reaping financial benefits, this system will also ensure they are able to meet customer
satisfaction levels while competing with both the local and foreign markets. Banks
should also be innovative in developing more products and services that will promote
a cashless system of banking.
Description
A Thesis Submitted To The Department Of Accounting And Finance In Partial Fulfillment Of The Requirements For The Degree Of Master Of Business Administration (Finance- Option)