Today, the banking system in ghana has seen a wide range of policies implemented to keep up with the western world. Virtual banking includes all non traditional and electronic means of banking such as atm, phone banking, internet banking ib, credit cards and debit cards etc. Electronic banking is the use of electronic and telecommunication networks to deliver a wide range of value added products and services to bank customers s teven, 2002. Vision 2020 would help the industry to understand the future evolution of banking and the evolving strategies for reaping maximum benefits from the changing scenario in banking and financial landscape. Mobile banking and mobile money adoption for financial. The aim of the paper was to determine the adoption, challenges and some critical successes of electronic banking in the ghana. The purpose of this study is to gain an insight or a deep understanding into electronic banking. Pwc 2016 ghana banking survey 2 vish ashiagbor country senior partner s even years after the launch of the first mobile money solution in ghana, the service can be said to be a game changer in the countrys financial services industry. In the finance and banking sector, this change is more tremendous.
Overview of the banking industry the banking system as at end march 2016 comprises the bank of ghana, 29 universal banks excluding arb apex bank which is a minicentral bank for rural banks, 9 rural and community banks, 61 nbfis, and 555 mfis. E banking conceptual framework remote banking, considered representative for the new economy, consists of electronic transactions between customers and their bank. E banking definition of e banking electronic banking, also known as electronic funds transfer eft, is simply the use of electronic means to transfer funds directly from one account to another, rather than by cheque or cash. With the passage of time, the bank was split into two. Pdf on feb 15, 2018, baffour owusu and others published improving electronic banking in g hana using ussd find, read and cite all the research you need on researchgate. The definition of electronic banking varies among researchers, because electronic banking refers to several types of services through which bank customers can request information and carry out most retail banking services via computer, television or mobile phone daniel, 1999. Financial sector reforms and bank performance in ghana t. Ebanking definition of ebanking electronic banking, also known as electronic funds transfer eft, is simply the use of electronic means to transfer funds directly from one account to another, rather than by cheque or cash.
In 1953 the bank of the gold coast was set up by the then government and alfred engleston, formerly of the bank of england. Reaction of online banking in economic and social aspects. Etim winston salem state university abstract as the developed economies are poised to transition many smart mobile phone users from the cashbased payment and other forms of digital payments such as the creditdebit card. First conceptualized in the mid1970s, some banks offered customers electronic banking in 1985. The core approach of the study is whether online banking adoption is performing well to return on asset, return on equity and margin. Over the last three decades banks have designed and rolled out many different electronic banking products. Ebanking, profitability, customer service, information and. This website uses cookies to improve your experience while you navigate through the website. Ebanking in ghana prospects and challenges graphic online. Adoption of electronic banking in ghana banking system a case study of guaranty trust bank ghana. Electronic banking has redefined the way banking is conducted across the globe and ghana was not left out.
Challenges of marketing ebanking services in a developing. Adoption of electronic banking in ghana banking system by dr. This study therefore seeks to examine the adoption of e banking in the ghanaian banking industry with guaranty trust bank ghana limited gtbank as the case study to identify the benefits, challenges and critical success factors for the adoption of e banking in the ghanaian banking industry. In the case of ghana, electronic banking is gradually becoming acceptable to all. Inquiry about the information of account the client inquires about the details of his own account. The introductions of electronic banking products and services have changed the nature and way of financial service delivery to customers in ghana. Mobile banking and mobile money, page 1 mobile banking and mobile money adoption for financial inclusion alice s. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Abstract the introductions of electronic banking products and services have changed the nature and way of financial service delivery to customers in ghana. Electronic banking, more commonly known as ebanking, is the newest delivery channel for banking services. Over the last three decades banks have designed and rolled out many different electronic banking. Exploring the factors that influence the adoption of internet. To assess the knowledge and patronage of electronic banking products by customers.
The main objective of the study is to examine the determinants of mobile banking adoption as a communication in the banking industry with specific emphasis on the access bank ghana limited. Electronic banking in tanzania specifically at nmb bank in morogoro municipality. Adelelouise carter abstract the internet and other electronic media have had a positive impact on the lives of individuals and businesses all over the world. Impact of mobile banking on service delivery in the. Electronic banking and the challenges of the ghanaian business. Abstract electronic banking e banking has brought about a revolution in the functioning of banks as it offers major opportunities to banks and their customers. The definition of ebanking varies amongst researches partially because electronic banking refers to several types of services through which a banks customers can request information and carry out most retail banking services via computer, television or mobile phone lustsik, 2004. The effects of electronic banking on financial services in. Daniel 1999 describes e banking as the provision of banking services to customers through internet electronic banking is defined to include the provision. Electronic banking has many names like e banking, virtual banking, online banking, or internet banking.
E banking, service quality and customer satisfaction in. The definition of electronic banking used in this study is. The advent of information and communications technology has led to the proliferation of electronic based banking products as an alternative channel for routing banking services to customers. From a humble start in 2009, mobile money solutions now account for cash flows. Electronic banking can also be defined as a variety of following platforms. Act 662 to promote and supervise electronic and other payments, funds transfer, clearing and settlement systems and in the exercise of its powers under section 51a 3 of the banking act, 2004 act 673 and section 4 1 d and e of the bank of ghana act, 2002 act 612, the bank of ghana hereby issues the following. In the process of the intensed competition, adoption of electronic banking was seen international journal of economic development research and investment, vol. The study assessed the impact of electronic banking on the profitability of a bank in ghana. The concept of electronic banking what is ebanking.
April 2011 151 as a necessity to maintaining a good competitive position, whereas, e banking stormed. By the end of 2008, 127 rcbs were in operation with a total 584 service outlets. Box 237, tarkwa, ghana abstract electronic banking has redefined the way banking is conducted across the globe and ghana was not left out. The impact of electronic banking on the profitability of banks. A case study of banks in ghana article by nii kwartei perryquartey ph. Impact of ebanking on the profitability of banks in ghana.
In the past, banks were providing services to their clients through the manual system, which results in long queues in transacting business in the banks. Have your paycheck deposited directly into your bank or. The study also provided some managerial implications and recommendations for future studies. Electronic banking is the conduct of banking business electronically which involves the use of information communication technology to drive banking business for immediate and future goals.
This has made the transition to electronic banking a necessity for banks in order to be. Ebanking services features, challenges and benefits 51 2. Adelelouise carter abstract the internet and other electronic media have had a positive impact on the lives of individuals and businesses all over the. The introduction of e banking services has improved banking efficiency in rendering services to customer. Impact of ebanking on the profitability of banks in ghana by.
Science has made the world more dynamic and progressive. Electronic banking has created a financial supermarket where many different financial services like insurance, investment, loans and current and savings accounts could be provided. A sample of 398 respondents was selected, out of the total number of 66,895 customer population. It is worth noting that the term mobile banking is. Functions of e banking at present, the personal e bank system provides the following services. Although we have taken all reasonable care in compiling this publication, we do. E banking services features, challenges and benefits 51 2. Gcb bank ltd, corporate banking division, head office, accra, ghana email of. Emerging developments in the banking industry of ghana. A special feature of virtual banking is the physical absence of the person seeking banking services at the premises and out of premises even abroad. Commercial banking in ghana predates colonial times. Box 237, tarkwa, ghana abstract electronic banking has redefined the way banking is conducted across the globe and ghana.
Financial sector reforms and bank performance in ghana. It is in this context, we hope that this report on banking on the future. Arising from the three major roles of the cbn in the areas. Whereas an alternative hypothesis was based on the fact that, the adoption of ebusiness in the banking industry in ghana through the use of atms, electronic fund transfer, electronic smart cards. A purposive nonprobability sampling technique was utilized in a 150 samplesize selection from e banking customers of trust bank ghana limited, ecobank ghana limited and barclays bank ghana limited 50 from each bank. In general, mobile money is a term describing electronic financial services performed via a mobile phone. Specifically the study sought to investigate the contribution of education to the adoption of e banking, to examine the relationship between the income and adoption of e banking, to assess the relationship between age and. The effects of electronic banking on financial services in ghana.
Daniel 1999 describes e banking as the provision of banking services to customers through internet electronic. Because the use of computers in banking ensured mathematical accuracy and promptness. Electronic banking, developing countries, user challenges, institutional challenges, ghana. Guaranty trust bank ghana limited gtbank as the case study to identify the. The effects of electronic banking on financial services in ghana matthew asare jonathan sakoe finance department, university of mines and technology, p.
Additionally, companies and individuals in ghana face the. Adoption of electronic banking in ghana ban king system a case study of guaranty trust bank ghana limited dr. I declare that an empirical study of e banking in cameroon is my own work and that all the sources that i have used or quoted have been indicated. It has been a common feature in the united kingdom, france and japan banking system, but nigeria never had experience until societe generale bank blazed the trail in november 1990 and popularly referred to as cash point 24 at their broad street and apapa braches. Electronic banking services have become an important practice among commercial banks in nigeria. Pdf improving electronic banking in ghana using ussd. People are using the digital platforms to purchase goods and services and transact businesses. Herein, we investigate into the impact of electronic banking e banking service delivery on customer satisfaction in ghana.
Electronic banking, or e banking, is the term that describes all transactions that take place among companies, organizations, and individuals and their banking institutions. It is simply the use of electronic and telecommunications network for delivering various banking products and services. Pdf abstract the introductions of electronic banking products and services have changed the nature and way of financial service delivery to customers. Pdf on feb 15, 2018, baffour owusu and others published improving electronic banking in ghana using ussd find, read and cite all the research you need on researchgate. The bank of ghana, established in 1953 by the bank of england, became the main banking institution in the country and oversaw issues of currency, business and personal banking bank of ghana annual report 1960 vol 1. As a strategy, awareness of gcb electronic banking products and services is very essential to increase customer knowledge and usage since most of gcbs electronic banking products and services are new in ghana and particularly to its customers. Three challenges mentioned by respondents in relation to ebanking services of gcb. Modeling external events for insurance and finance, new york. How the bank finds itself before a new fact imposed by technology revolution that has changed their work mechanisms from traditional means to electronic means. Salehi and zhila, 2008, describes e banking as an electronic connection between bank and customer in order to prepare, manage and control financial transactions. Exploring the factors that influence the adoption of internet banking in ghana alfred sekyere mbrokoh. Mar 23, 2018 ebanking in ghana prospects and challenges. However, there are some risks in e banking which sometimes make the clients anxious about the security of his account.
Fiscal electronic devices 21 communication service tax 21 special petroleum tax 22. Ghana s banks have performed poorly in the past, offering but a narrow range and inefficient delivery of financial instruments, being strongly biased in their reach to the urban formal sector and, in particular, to the holding of. The impact of electronic banking on the profitability of. Electronic banking is an important tool for all banks to survive in the competitive nigerian banking industry.
It made the banking transactions more easy, speedy and comfortable. Electronic banking and the challenges of the ghanaian. The study aims at examining the impact of mobile banking on service delivery in the nigeria commercial banks. In this article, we will look at the importance and types of e banking services. It has brought changes in economy, politics, culture, society and the people themselves. The concept of electronic banking has transformed the very process of banking from the manual to the electronic one. Agboyi research paper postgraduate business economics banking, stock exchanges, insurance, accounting publish your bachelors or masters thesis, dissertation, term paper or essay. The general objective of the study is to assess the contribution of electronic banking to customer satisfaction. Pursuant to the mandate of the bank of ghana under the payment systems act 2003 act 662 to promote and supervise electronic and other payment, funds transfer, clearing and settlement systems and exercising its powers under section 51 a 3 of the banking act. Electronic banking has blurred the boundaries between different financial institutions, enabled new financial products and services, and made existing financial services available in different packages. Adoption of electronic banking in ghana banking system.
To assess the availability of internet banking facilities at gcb bank, koforidua. This study examines the relationship between the quality of service and customer satisfaction in the e banking era. Adoption of electronic banking in ghana banking system a case study of guaranty trust bank ghana limited dr. Adoption of electronic banking in ghana banking system grin. Electronic banking, more commonly known as e banking, is the newest delivery channel for banking services. Teaching asistant, university of ghana, operations management and informations systems, ghana, tel. Determinants of mobile banking adoption in the ghanaian. E bank is the electronic bank that provides the financial service for the individual client by means of internet.
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