Assessment of the knowledge, patronage and challenges of E-banking system in Ghana: Case studies of Gcb Bank Limited and Ecobank Ghana Limited in the Kumasi Metropolis

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July, 2015
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The study investigated the level of patronage and challenges of e-banking systems in Ghana using descriptive statistics and two selected branches of GCB and Ecobank in the Kumasi Metropolis as case studies and a sample of 376 clients. The study found ATM to be the most popular e-banking service to customers of both banks. Only 20% of the respondents from Ecobank and 15% from GCB reported having used the credit card before. None of the other products recorded patronage level above 20%. It was however found that there is slightly higher acceptability of e-banking products by customers of Ecobank than customers of GCB. It was revealed that about 10% of respondents use the ATM at least once every day whilst 30% use it at least once every week. The study established that respondents find e-banking services to be more efficient and convenient than traditional banking. In addition, majority of the respondents also identified e-banking services to be more reliable and accessible, and faster. The study identified the following as significant challenges that come with e-banking products: security threat posed by hackers, technological failures and frequent breakdowns, and ineffective servicing of delivery channels. It is recommended that there is the need for regular maintenance of e-banking infrastructure and enhanced education of e-banking services for customers.
A Thesis submitted to the Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of Masters in Business Adminstration (Finance Option),