In the case of ghana, electronic banking is gradually becoming acceptable to all. There is high risk of becoming a victim especially young internet user. The aim of the paper was to determine the adoption, challenges and some critical successes of electronic banking in the ghana. As with every good innovation, comes some shortcomings and electronic banking has not been spared. Amc consult as is actively delivering its solutions, consultancy and support at a normal pace, keeping its operations the same as before the spread of the pandemic. Specifies how cheques are drawn, accepted and paid.
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. In line with global trends, the banking industry in ghana too has been undergoing. Electronic records and records management practices. Financial sector reforms and bank performance in ghana. Adoption of electronic banking in ghana banking system grin. The study also conducted a further test to ascertain the reliability and validity of the construct used for the study.
The crux of this study is on the adoption of epayment system in nigeria. Internet banking includes the systems that enable polytechnic, ghana financial. Payments, agency, mobile and electronic banking bank of ghana act, 2002 act 612. Abstract the introductions of electronic banking products and services have changed the nature and way of financial service delivery to customers in ghana. Mobile money all mobile operators collection and interfaces done on gcnet systems. Daniel 1999 describes ebanking as the provision of banking services to customers through internet electronic banking is defined to include the provision. The impact of electronic banking transaction in ghana. A purposive nonprobability sampling technique was utilized in a 150 samplesize selection from ebanking customers of trust bank ghana limited, ecobank ghana limited and barclays bank ghana limited 50 from each bank.
Pdf impacts of electronic banking services on the ghanaian. Developing ebanking capabilities in a ghanaian bank. This made it possible for qualified incorporation to file applications for. About 430 dedicated operating and service support offices in 17 countries. Determinants of mobile banking adoption in the ghanaian. There are other electronic mail account inquiry application or static file features. Simply put, electronic banking makes banking easy, faster, saves time, cost effective and increases customer satisfaction. The arrival of the internet has taken electronic payments and transactions to an exponential growth level. When you give your check to a cashier in a store, the check is run through an electronic system that captures your banking information and the amount of the check.
Three challenges mentioned by respondents in relation to ebanking services of gcb limited. The act makes the bog the authority responsible for payment and settlement systems in ghana. Electronic banking in nigeria problems and prospects abstract this research work is an attempt to analyse and find out the problem and prospects of eletronic banking in nigeria. Research has shown that the adoption of ebanking was a business strategy taken by banks in response to customer needs and changing market trends in the banking industry. An automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels. Electronic banking integrates and aligns the ghanaian economy globally. Electronic banking and the challenges of the ghanaian. The test revealed that all the remaining construct items had factor loadings above the cut off value of 0. The importance, how to, effect causes relationship, comparison, history, role, solutions are discussed.
People are using the digital platforms to purchase goods and services and transact businesses. Effects of electronic media advertising on rural banking in ghana. Ghanas banks have performed poorly in the past, offering but a narrow range and inefficient delivery of financial instruments, being strongly biased in their reach. Nonbank financial institutions business bog rules, 2000 as applicable to deposit taking institutions preamble the bank of ghana the bank, being satisfied that in the public interest and for the purpose of securing and promoting the proper functioning of the nonbank financial institutions licensed by it under section 41 of the financial. 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. Banking sector forms of electronic banking clients use modern communication media for remote communication with the bank. Ebanking conceptual framework remote banking, considered representative for the new economy, consists of electronic transactions between customers and their bank. A process has been set in motion by the bank of ghana to have this act.
Over the past decade, electronic business has grown as an emerging industry. The main aim of the study was to assess the adoption of electronic banking by rural and community banks and its effect on the livelihood of the people of bogoso. Balancing inclusive growth with financial stability 4 all the banks in ghana are class i universal banks doing business across all areas of banking. It further states that some banks practice electronic banking for informational purpose.
Case study uba bank cameroon sought out to examine the relationship between ebanking services and the profitability of the banking institution and to identify the. Have your paycheck deposited directly into your bank or. Adjei tettey of ecobank ghana limited, i appreciate the loving gesture in. This is approved for students in accountancy business computer science economics engineering arts. Review of interoperability and regulations of mobile money. Ghanas financial system has gone through a process of liberalization, restructuring and transformation over the last two decades. Bggovsec200821 and as such, the stipulations outlined therein are hereby rescinded, including the requirement for a manytomany model and the applicability only to deposittaking financial institutions. Ebanking can be defined as the deployment of banking services and products over electronic and communication networks directly to customers singh and malhotra, 2004. 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.
Introduction for many of the worlds poor, a number of obstacles limit access to finance and financial networks. Consumers could purchase goods and services from the internet and send unencrypted credit card numbers. Bank of ghana guidelines for emoney issuers in ghana. The availability and proper functioning of electronic banking services depends on many variable circumstances, including location, mobile network and internet availability and signal strength, and proper functioning of hardware, software, your mobile. Electronic check conversion converts a paper check into an electronic payment in a store or when a company gets your check in the mail. Bank of africa offers a rich and diversified range of products and services to its customers. Method of payment electronic or check may vary depending on local requirements and validity of beneficiary information. Cybercrime, an offence that is committed against individuals through the internet has bedeviled the global online industry. Get free research paper on the role of electronic banking e banking in the development of financial institutions in nigeria. The research geared toward explaining what electronic. Pdf on jan 1, 2016, richard eshun and others published adoption of electronic banking. 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.
Electronic banking in rural banks effects on livelihoods. Furthermore, analysis of qualitative data through interviews was done manually to determine the themes in the interview text. In general, mobile money is a term describing electronic financial services performed via a mobile phone. Ebanking involves services offered by banks to their private and business customers using computerized support to record, process and transport data automatically or without vouchers.
Interbank transfers took a long time to be cleared and electronic. 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. Ebanking, profitability, customer service, information and communication technology. A continuously expanding base of automated teller machines and electronic payment terminals, numbering around 600. The study also sought to identify the extent of use of mobile and internet banking in financial institutions. Elements of banking chartered institute of bankers, ghana. Acharacteristic feature of these services is the clientsuninterrupted roundthe. Exploring the factors that influence the adoption of. This study on the impact of ebanking on commercial banking operations in cameroon.
Achieving port efficiency and paperless clearance in ghana. We may vary the types of electronic alerts available without notice to you. It concludes with a set of recommendations for banks in developing countries seeking to adopt ebanking, and a call for further research in ebanking. From the findings, both local and foreign banks in ghana have demonstrated a high level of efficacy in managing the risks associated with electronic banking based on.
Banking clients should learn to keep their cards, documents and 24. The evolution of digital banking in ghana businessghana. Emerging developments in the banking industry of ghana. Electronic records include numeric, graphic, audio, video, and textual information which is recorded or transmitted in analog or digital form such as electronic spreadsheets, word processing files, databases, electronic mail, instant messages, scanned images, digital. Amcconsult as specialized in bank integration solutions. Previously, the provision of banking services in ghana was basically manual. This study sought to determine the impact of mobile and internetbanking on performance of financial institutions in kenya where the survey was conducted on financial institutions in nairobi. Electronic banking and the common banking products. To deal with the challenges of adopting ebanking services, the research paper. Adoption of electronic banking in ghana banking system a case study of guaranty trust bank ghana. Cybercrime is also criminal activity using internet facilities such as virus infections, identity theft and hacking. Bank of ghana guidelines for emoney issuers in ghana these guidelines replace the previous guidelines for branchless banking notice no. Ebanking services features, challenges and benefits 51 2. Journal of asian business strategy effects of electronic.
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. The study thus recommends the adoption of electronic banking to traditional banking. Finding the error in the data file second there is the need to find. Expected beneficiary receipt date may be 57 days from the date the beneficiary bank received the payment beneficiary bank may not necessarily apply on value date. A study of unity rural bank limited, ho ghana israel kofi nyarko department of marketing, ho polytechnic, volta region, ghana abstract advertising which uses electronic energy to transmit information to the end user is called electronic media advertising. Herein, we investigate into the impact of electronic banking ebanking service delivery on customer satisfaction in ghana. Electronic banking, more commonly known as ebanking, is the newest delivery channel for banking services.
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