Adoption of Electronic Banking: Evidence from Ghana

This paper sought to examine the adoption of Electronic Banking products by customers as well as the perceived benefits and the barriers experienced by Ghana Commercial Bank customers.Both primary and secondary data were used in the study. The population for this study was customers of Ghana Commercial Bank. Sample size of 520 customers was selected using convenience sampling.  SPSS was used for the data analysis. It was observed from the analysis that GCB has implemented E-banking products to stay in tune with its competitors for the market share and customers acceptability of the various banking products.  The study shown that of all the electronic banking products, ATM was rated high on the attribute of simplicity, enjoy-ability and less difficult when it comes to its usage. In addition, ATM was the preferred choice of the respondents in relation to the security of the various e-banking products and how comfortable the products have made banking easier. Finally, it was observed that 77% rarely have problems with the services and 86% sometimes seek assistance before using the products. The study recommends that GCB should improve on the technical and functional quality of their ATM since it is the most preferred electronic banking product by customers. In order to enhance customer retention, product innovation should be carried out on GCB’s, ATM. Keywords: Banking; Electronic; Adoptio

Consumer Choice Model of Mobile Banking

Research in the adoption of mobile banking (m-banking) has not offered a comprehensive explanation of low demand for the service. This paper proposes a theoretical model to account for the explanations of the consumer’s choice whether to adopt m-banking or not. The model underlies the cognitive processes of reasoning, referencing and contextualising, as postulated in the behavioural decision making. The proposed theoretical framework is based on a review of literature from services marketing, behavioural economics and information systems

What Influences Individuals to Use New Online Services: An Empirical Study of Online Banking

A considerable amount of academic research during the past decade has investigated what motivates individuals to use new online services by theory of reasoned action, technology acceptance model, theory of planned behavior, innovation diffusion theory, and/or the combination of the preceding two/three theories. As compared to understanding the adoption of a new online service from social psychology theories, which has been comprehensively investigated during the recent ten years, the literature on understanding individuals to move to a new online service or switch to another provider for the same new online service is seldom studied from the perspectives of economic theories. Therefore, this research aims to fill out the gap and make a contribution in this concern

Predicting retail banking customers’ attitude towards Internet banking services in South Africa

This paper investigates the predicators of retail banking customers’ attitude towards the adoption of Internet banking services in South Africa. This study extended the Technology Acceptance Model (TAM) by including trust, subjective norm and demographic variables, and presents an empirical validation in South Africa. The results suggest that perceived usefulness, perceived ease of use and trust have signifi cant positive relationships with attitude, while subjective norm has a relationship with attitude, albeit a moderate relationship. Consumers’ trust of the Internet banking system emerged as the strongest predicator of their attitude, while demographic variables were found to be weak and poor predictors of customers’ attitude. Moreover, the results indicated that, even though customers are sceptical of the Internet banking system, they intend to start using/continue using the service. The managerial implications of these findings on efforts aimed at increasing the adoption of Internet banking use among retail banking customers in South Africa and others operating in similar contexts are noted in this paper. This research also adds value to existing studies of Internet banking in South Africa. Moreover, it makes a contribution to the current literature on customers’ attitude towards Internet banking services, which is largely under-researched in South Africa.Key words: Internet banking, retail banking, attitude, technology acceptance model, SouthAfric

Adoption of financial innovation in the Ghanaian banking industry

This century has been full of innovations: new technologies, new products, new services and a plethora of new industries have emerged. Yet the call for innovation in business, especially in financial services, has never been more intense. Although research on this topic exists, there is no empirical evidence regarding the critical factors influencing customer adoption of electronic banking innovation in Ghana’s banking industry. The aim of this article is therefore to investigate the factors influencing the adoption of financial innovation in Ghana’s banking industry. Surveys were conducted involving 405 clients of the six major banks in the country. Using logistical regression, the results amongst other things show that innovation attributes such as lack of complexity, compatibility and perceived usefulness provided by financial innovation, increase the likelihood of e-banking adoption. In light of these findings, the study recommends that banks should focus on designing both useful and easy-to-use e-banking products that will attract potential and existing customers.Keywords: e-banking, financial innovation, Ghana, technology, West Afric

Client-Centricity In South African Retail Banking

Client-centricity deals with addressing the needs of clients as they change. It requires contact-personnel who are empowered to not only identify client needs, but address them speedily. This study investigated the perceptions of client-centricity for 559 contact-personnel at three major South African retail banks in central South Africa. The results indicate that in general the contact personnel regard their respective banks as enforcing a client-centric strategy. They do however feel that the support from administrative personnel and the processes that support the sales environment are not always conducive to client-centric principles. This is a particular problem as contact-personnel are attuned to addressing the sales-related product and service offerings of clients as opposed to the process-related administrative burdens attached to the delivery of such products and services. The study also found that the job function of contact-personnel is the most important factor to consider when developing a client-centric strategy. Further to this, contact-personnel with the longest number of years of experience in a specific function are the best to use for management when determining whether or not specific tools to achieve client-centricity are effective. The major contribution of the study is that it focuses specifically on the perceptions of contact-personnel and thus provides additional knowledge of what the bank (through its client-facing staff) itself considers important with regards to client-centricity

An Assessment of the Impact of E-Banking on Nigeria’s Economic Growth, 2008 - 2018

This study assesses the impact of e-banking on Nigeria’s economic growth between 2008 and 2018. It examines the impact of Mobile transfer; Point of Sale (POS); and Automated Teller Machine (ATM) on economic growth. Expost-facto research design was adopted wherein data was generated from Central Bank of Nigeria’s (CBN) statistical bulletin for various years, 2008 - 2018. Augmented Dickey-Fuller Unit Root test statistic, error-correction mechanism, Heteroscedasticity Breusch-Pagan-Godfrey Test, and Durbin-watson tests were used to analyse the data. The result of analysis reveals that Mobile Transfer and Point of Sales (POS) have both negative and positive impacts on the Real Gross Domestic Product (RGDP) for different years; while the Automated Teller Machine (ATM) exhibited strong positive impact on the Real Gross Domestic Product (RGDP). The implication of these finding for stakeholders and researchers in the banking industry and national economy includes its exposition of prevailing factors hindering the impact of e-banking regime, the need for urgent policy to resolve them and pursue aggressive public awareness campaigns of e-banking

Predicting the Attitude Towards Electronic Banking Continued Usage Intentions Among Rural Banking Customers in South Africa

Published ArticleBackground: The proliferation of electronic banking has revolutionised the delivery of financial services across the globe. E-banking services offer substantial benefits, such as reduced costs to transact, convenience and flexibility. Despite the considerable penetration of e-banking in South Africa, it remains unclear whether customers are willing to continue using these services, particularly given the safety concerns, because of the high incidence of cybercrime. Objectives: Owing to the paucity of research on customers’ attitude towards continued usage intentions of e-banking services, the aim of this study is to investigate the formation of attitude towards e-banking continued usage intentions among rural banking customers. Method: The study was underpinned by a positivist paradigm, and a descriptive design was employed. Primary data were collected by means of self-administered questionnaires, which yielded 139 valid responses. Regression analysis was utilised during the analysis for hypothesis testing. Results: The results revealed that e-banking attitude is mainly driven by perceived ease of use and perceived usefulness. Furthermore, the results showed that e-banking attitude strongly predicts continued usage intentions. Conclusion: The empirical evidence presented in this study adds value to the existing research on e-banking, particularly in the context of rural banking customers, an area which is largely under-researched in South Africa

Predicting the attitude towards electronic banking continued usage intentions among rural banking customers in South Africa

Background: The proliferation of electronic banking has revolutionised the delivery of financial services across the globe. E-banking services offer substantial benefits, such as reduced costs to transact, convenience and flexibility. Despite the considerable penetration of e-banking in South Africa, it remains unclear whether customers are willing to continue using these services, particularly given the safety concerns, because of the high incidence of cybercrime. Objectives: Owing to the paucity of research on customers’ attitude towards continued usage intentions of e-banking services, the aim of this study is to investigate the formation of attitude towards e-banking continued usage intentions among rural banking customers. Method: The study was underpinned by a positivist paradigm, and a descriptive design was employed. Primary data were collected by means of self-administered questionnaires, which yielded 139 valid responses. Regression analysis was utilised during the analysis for hypothesis testing. Results: The results revealed that e-banking attitude is mainly driven by perceived ease of use and perceived usefulness. Furthermore, the results showed that e-banking attitude strongly predicts continued usage intentions. Conclusion: The empirical evidence presented in this study adds value to the existing research on e-banking, particularly in the context of rural banking customers, an area which is largely under-researched in South Africa