Factors Affecting Technology Acceptance in Banking - A Case Study of the Ghanaian Banking Industry

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DOI: 10.21522/TIJMG.2015.04.02.Art001

Authors : Edmund Amponsah Opare


The introduction of new technologies has changed the way services are rendered by majority of organizations. Mensah, (2012) defines electronic banking as the provision of new and conventional banking products and services specifically to clients through electronic correspondence channels, usually using the internet. Parameswaran, (2012) defines electronic banking as the provision of financial services for the individual clients through the internet. (Parameswaran, 2012) further explains that electronic banking also involves the transfers of funds through an exchange of electronic signals between financial institutions rather than using cheques or other documentation.

The purpose of this study is to identify factors affecting the acceptance of technology in the Ghanaian Banking Industry.

The methodology used in this study is questionnaire, survey and information from Eco bank’s website.

The results of the studies showed that Eco bank is able to use its websites to advertise, provide information to their clients, sell products and reach new customers. Technological tools have also helped employees get task done more quickly and efficiently. This then translates into high profitability of Eco bank and hence high employee remuneration. Technology acceptance has made it simple to set up banking facilities in rural areas. Also through technology acceptance, the customers of Eco bank and the general public are able to access a branch for a variety of services through the convenience of home banking.

Electronic financial services either by Internet or via mobile phone or other means of remote transmission or through smart cards has rapid expansion and has changed the nature of financial services around the world strongly.

Keywords: modern business, information technology, economy, innovations, mobile banking and social influence.


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