Adoption of E-Banking services: perspective of Ghanaian customers from selected commercial banks in Kumasi

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Demand for financial services is changing rapidly and customers’ behaviour regarding these services is also adapting rapidly. These changes are evident with the revolution of the traditional banking sector to electronic banking, new strategies have become necessary in order to attract and retain existing customers. This study sought to examine the adoption of e-banking and the perspective of Ghanaian customers. The specific objectives include to: assess the adoption of e-banking products among Ghanaian customers; identify factors that contribute to the adoption of e-banking; examine challenges hindering the effective patronage of e-banking products in Ghana and finally analyze customers’ perception regarding the quality of e-banking services provided by banks in the country. The study adopted a descriptive research design involving a cross-sectional survey of customers of various commercial banks found within the Kumasi Metropolis. Out of an estimated population of over 150,000 retail customers, a sample of 520 was used. The sampling technique used was convenience sampling; whilst data was drawn from both primary and secondary sources. Questionnaire was the main research instrument. At the end, the study found a high correlation between five independent variables (Information, cost/charges, customers’ level of education, speed of service, and convenience) and e-banking adoption. The correlation value was 0.915 with R2 value of 0.838. The study further revealed that information about various e-banking products was likely to increase the adoption rate by approximately 4% whilst users’ level of education and speed of service recorded 9 percent and 41 percent respectively. It is therefore recommended that promotional campaigns are geared toward educating customers on how to use e-banking products especially internet banking. Banks must also endeavour to guarantee the safety and security of online transactions. This will go a long way to instill confidence in the adoption of e-banking products.
A thesis submitted to the Department and Marketing and Corporate Strategy, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirement for the award of Master of Business Administration (Strategic Management & Consulting), 2015