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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Date
July, 2015
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Abstract
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.
Description
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),