Assessing Customers’ Perception of Electronic Banking Services: Evidence from Ghana Commercial Banks in Kumasi Metropolis

Ewool, Mary; Osei-Anim, Reindolph,; Quartey, Joyce Ama

dc.contributor.author	Ewool, Mary
dc.contributor.author	Osei-Anim, Reindolph,
dc.contributor.author	Quartey, Joyce Ama
dc.date.accessioned	2024-10-25T09:56:34Z
dc.date.available	2024-10-25T09:56:34Z
dc.date.issued	2023-05-17
dc.identifier.citation	References Abor, J. (2004). Technological Innovations and Banking in Ghana: An Evaluation of Customers’ Perceptions, School of Administration, University of Ghana, Legon, Ghana. Accenture Consulting. (2016). Banking on Value: Rewards, Robo-Advice and Relevance. North America Consumer Digital Banking Survey. Adams, V. (2019). Electronic Banking Reforms: Assessment of Customer Awareness and Satisfaction in Ghanaian Banks: A Case of Ecobank Ghana Limited, Accra. A Long INTERNATIONAL JOURNAL OF ACADEMIC RESEARCH IN ACCOUNTING, FINANCE AND MANAGEMENT SCIENCES Vol. 1 3 , No. 2, 2023, E-ISSN: 2225-8329 © 2023 HRMARS 196 Essay Presented to the Department of Finance, University of Ghana Legon, in Partial Fulfilment of the Requirements for the Award of Master of Business Administration in Finance. University of Ghana http://ugspace.ug.edu.gh. 94 pgs. Addai, B., Ameyaw, B., Ashalley, E., & Quaye, I. (2015). Electronic Banking and Customer Satisfaction: Empirical Evidence from Ghana. British Journal of Economics, Management & Trade 9(3): 1-8. Article no.BJEMT.19269 ISSN: 2278-098X Ahmad, S., Bhatti, S. H., and Hwang, Y. (2019). E-service quality and actual use of e-banking: explanation through the technology acceptance model. Inf. Dev. 36, 503–519. doi: 10.1177/0266666919871611 Akerlof, G. A. (1970). The Market for "Lemons": Quality Uncertainty and the Market Mechanism. The Quarterly Journal of Economics, 84 (3), 488-500. Alston, A. J., & Miller, W. W. (2001). Analysing the barriers and benefits towards instructional technology instruction in North Carolina and Virginia secondary agricultural education curricula. Journal of Southern Agricultural Education Research, 51(1), 50 -62. Amaoko, A. (2012). The Impact of Information Communication Technology (ICT) on Banking Operations in Ghana. International Journal of Business and Management Tomorrow. Cited in The Impact of Information and Communication Technology (ICT) on Rural Banks Management. A Case Study of Atiwa-Rural Bank Limited in Ghana. American Journal of Industry and Business Management, 2020. 10(10), 1681-1706. Anane, M., & Asamoah, F. O. (2015). Customers’ Satisfaction and Attitude towards Electronic Banking Services in Ghana: A Case Study of Selected Banks in Kumasi Metropolis. European Journal of Business and Management, 7(32), 93-100. Ankrah, E. (2012). Technology and Service Quality in the Banking Industry in Ghana. Information and Knowledge Management, 2(8), 52– 60. Arunanchalam, S., & Sivasubramanian, M. (2017). The impact of e-banking on the profitability of banks: A study of Pakistani Banks. Journal of Public Administration and Governance, 5(1), 45-67. In The History and Background of Internet Banking Marketing.UKEssays.https://www.ukessays.com/essays/marketing/the-history-andbackground- of-internetAsare, M., & Sakoe, J. (2015). The Effects of Electronic Banking on Financial Services in Ghana. Research Journal of Finance and Accounting, 6(16), 147-154. Baabdullah, A. M., Alalwan, A. A., Rana, N. P., Patil, P., & Dwivedi, Y. K. (2019). An integrated model for m-banking adoption in Saudi Arabia. Int. J. Bank Mark. 37, 452–478. doi: 10.1108/IJBM-07-2018-0183 Babbie, E., & Button, J. (2002). The practice of social research. Cape Town: Oxford University. Barde, M. P., & Barde, P. J. (2012). What to use to express the variability of data: standard deviation or standard error of mean? Perspectives in clinical research, 3(3), 113-118. Barnes, S. J., & Corbitt, B. (2013). Mobile Banking: Concept and Potential. International Journal of Mobile Communications, 1(3), 273–288. Bartlett, M. S. (1954). A note on the multiplying factors for various chi square approximation. Journal of Royal Statistical Society, 16(Series B), 296-8. Basel Committee on Banking Supervision (2001). Risk management principles for electronic banking. Bank for International Settlements. Bialas, W., Beaudoin, C. & Coradini, G. (2017). Branch Banks: Navigating a Sea of Industry Change. United States Banking Outlook. JLL Research, 5(2), 818-828. INTERNATIONAL JOURNAL OF ACADEMIC RESEARCH IN ACCOUNTING, FINANCE AND MANAGEMENT SCIENCES Vol. 1 3 , No. 2, 2023, E-ISSN: 2225-8329 © 2023 HRMARS 197 Boateng, R., & Molla, A. (2006). Developing E-banking Capabilities in a Ghanaian Bank: Preliminary Lessons, Journal of Internet Banking and Commerce, 11(2), 1-16. Broderick, A. J., & Vachirapornpuk, S. 2002. Service Quality in Internet Banking: The Importance of Customer Role. Marketing Intelligence & Planning 20(6):327-335. Cattell, R. B. (1966). The Scree Plot Test for the Number of Factors. Multivariate Behavioral Research, 1, 140-161. http://dx.doi.org/10.1207/s15327906mbr0102_10. Cited by Kanyongo, G. Y. (2005). "Determining The Correct Number of Components to Extract from a Principal Components Analysis: A Monte Carlo Study of the Accuracy of the Scree Plot, " Journal of Modern Applied Statistical Methods, 4(1) 13. DOI: 10.22237/jmasm/1114906380 Available at: http://digitalcommons.wayne.edu/jmasm/vol4/iss1/13. Chan, D. W., & Kumaraswamy, M. M. (1997). A comparative study of causes of time overruns in Hong Kong construction projects. International Journal of project management, 15(1), 55-63. Cited by Gunduz, et al. 2013. Quantification of Delay Factors Using the Relative ImportanceIndex Method for Construction Projects in Turkey. Journal of Management In Engineering, 29(2): 133-139. Chemtai, F. (2016). The effects of electronic plastic cards on the firm’s competitive advantage: A case of selected commercial banks in Eldoret town, Kenya. International Journal of Science Education Studies, 2(2), 29-39. Chen, Q., & Jin, R. (2013). Multilevel safety culture and climate survey for assessing new safety program. Journal of Construction Engineering and Management, 139(7), 805-817. Chen, W. T., Chang, P. Y., & Huang, Y. H. (2010). Assessing the overall performance of value engineering workshops for construction projects. International Journal of Project Management, 28(5), 514-527. Chepurna, M., & Criado, J. R. (2018). Identification of barriers to co-create online: the perspectives of customers and companies. J. Res. Interact. Mark. 12, 452–471. doi: 10.1108/JRIM-01-2018-0018 Claus, I. & Grimes, A. (2003). Asymmetric Information, Financial Intermediation and the Monetary Transmission Mechanism: A Critical Review. New Zealand Treasury Working Paper 03/19. Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 318-39. Dong-Her, S., Hsiu-Sen, C., Chun-Yuan, C., & Lin, B. (2004). Internet security: malicious e-mails detection and protection. Industrial Management & Data Systems, 104(7), 613-623. Eriksson, K., Kerem, K., & Nilsson, D. (2005). Customer acceptance of Internet banking in Estonia. International Journal of Bank Marketing, 23(2), 32 pp. DOI:10.1108/02652320510584412. Essvale Corporation Limited. (2011). Business Knowledge for IT in Global Retail Banking: A complete Handbook for IT Professionals. First Edition. Milton Keynes : Lightning Source Ltd. Ezeoha, A. E. (2005). Regulating Internet Banking In Nigeria: Problems and Challenges – Part. Journal of Internet Banking and Commerce, 11(1), 1-5 Available: http://www.arraydev.com/commerce/jibc/. Federal Financial Institutions Examination Council (2003). FFIEC IT examination handbook on E-Banking. Federal Register Ed. August, 67( 237). Felix, P. (2014). Prospects and Challenges of Electronic Banking in Ghana: The Case of Zenith INTERNATIONAL JOURNAL OF ACADEMIC RESEARCH IN ACCOUNTING, FINANCE AND MANAGEMENT SCIENCES Vol. 1 3 , No. 2, 2023, E-ISSN: 2225-8329 © 2023 HRMARS 198 Bank, Sunyani. International Journal of Advances in Management, Economics and Entrepreneurship, 1(1), 06-14. Field, A. (2009). Discovering Statistics Using SPSS for Windows, 3rd edition. London Sage Publications. Gan, C., & Clemes, M. (2006). A log it analysis of electronic banking in New Zealand. International Journal of Bank Marketing, 24(6), 360-383 Gerlach, D. (2000), ``Put your money where your mouse is'', PC World, March, pp. 191-99. Ghana-banking-survey. (2019). PwC https://www.pwc.com › assets › ghana-bankingsurv... Godwin-Jones, B. (2001). Emerging Technologies Accessibility and Web Design: Why Does It Matter? Language Learning & Technology, 5(1), 11-19. Greenbaum, S. I., & Thakor, A. V. (2007). Contemporary Financial Intermediation. 2nd Edition. New York.:Academic Press. Hackett, S., & Parmanto, B. (2005). A longitudinal evaluation of accessibility: higher education web sites. Internet Research, 15(3), 281-294. Hoffman, D. L., & Novak, T. P. (1996). Marketing in Hypermedia Computer-Mediated Environments: Conceptual Foundations. Journal of Marketing, 60(3), 50-68. Ho, C. B., & Lin, W. (2010) ―Measuring the Service Quality of Internet Banking: Scale Development and Validation, European Business Review, 22(1): 5-24. DOI 10.1108/09555341011008981. Hoseini, A., & Dangoliani, S. K. (2015). Investigating the effect of electronic banking services quality on the customer satisfaction. J. Intern. Econ. Bus. (1), 37- 42 Hosseini, M., Shajari, S., & Akbarabadi, M. (2020). Identifying multi-channel value co-creator groups in the banking industry. J. Retail. Consum. Serv. (in press). doi: 10.1016/j.jretconser.2020.102312 Igwenagu, C. (2016). Fundamentals of Research Methodology and Data Collection. Lambert Academic Publishing Available at: www.researchgate.net › publication › 303381524. Jayawardhena, C., & Foley, P. (2000). Changes in the banking sector - the case of Internet banking in the UK, Internet Research: Electronic Networking Applications and Policy, 10(1), 19-30. Jiaqin, A., Mike, H., & Katja, S. (2007). Comparative analysis of the financial performance of commercial banks in Tanzania. Research J. of Finance and Accounting, IV(19), 133-143. John, O. A, & Rotimi, O. (2014). Analysis of electronic banking and customer satisfaction in Nigeria. Europ. J. Bus. Soc. Sci. 3(3), 14-27. Johnston, R. (1995). The determinants of service quality: satisfiers and dissatisfies. International Journal of Service Industry Management, 6(5), 53-71. Johnston, R., (1997). Identifying the critical determinants of service quality in retail banking: importance and effect. The International Journal of Bank Marketing. 15(4), 111-116. Jun, M., & Cai, S. (2001). The key determinants of internet banking service quality: a content analysis. International Journal of Bank Marketing, 19(7), 276-291. Jun., M., Yang, Z., & Kim, D. (2004). Customers' perceptions of online retailing service quality and their satisfaction. International Journal of Quality & Reliability Management. 21(8), 817-840. DOI:10.1108/02656710410551728 Kaiser, H. (1970). A second generation Little Jiffy. Psychometrika, 35, 401-15. Kaiser, H. (1974). An index of factorial simplicity. Psychometrika, 39, 31-6. Kapoor, S. (2010). Succeeding in UK with the Bank-Focused Model of Mobile Banking. Finacle INTERNATIONAL JOURNAL OF ACADEMIC RESEARCH IN ACCOUNTING, FINANCE AND MANAGEMENT SCIENCES Vol. 1 3 , No. 2, 2023, E-ISSN: 2225-8329 © 2023 HRMARS 199 Whiteboard, Retrieved: August 10, 2014. Available: Http://Www.Infosysblogs.Com/Finacle/. Karjaluoto, H., Mattila, M., & Pento, T. (2001). Electronic banking in Finland: Consumer beliefs and reaction to a new delivery channel. Journal of Financial Services Marketing, 6(4) 346-361. Karjaluoto, H, Mattila, M., & Pento, T. (2002). Factors underlying attitude formation towards online banking in Finland, International Journal of Bank Marketing, 20(6), 261-272. Kehinde, J. S., Anyikwa, E. B., & Oladimeji M. S. (2015). The Electronic Banking System and Efficient Service Delivery in the Banking Sector. Journal of Information Engineering and Applications, 5(3), 229-34 . Kolsaker, A., & Payne, C. (2002). Engendering trust in e-commerce: A study of gender-based concerns. Marketing Intelligence & Planning 20(4), 206-214. Lichtenstein, S., & Williamson, K. (2006). Understanding Consumer Adoption of Internet Banking: An Interpretive Study In The Australian Banking Context. Journal of Electronic Commerce Research, 7(2), 50-66. Lyman, T. R., Ivatury, G., & Staschen, S. (2006). Use of agents in branchless banking for the poor: Rewards, risks, and regulation. Focus Note, October, 38, 1. Malaquias, R. F., & Hwang, Y. (2019). Mobile banking use: a comparative study with Brazilian and U.S. participants. Int. J. Inf. Manag. 44, 132–140. doi: 10. 1016/j.ijinfomgt.2018.10.004. Malar, D. A., Arvidsson, V., & Holmstrom, J. (2019). Digital transformation in banking: exploring value co-creation in online banking services in India. J. Glob. Inf. Technol. Manag. 22, 7–24. doi: 10.1080/1097198X.2019.1567216 McMillan, J. H., & Schumacher, S. (2010). Research in Education: Evidence-Based Inquiry, My Education Lab Series. Pearson. Mishra, P., Pandey, C. M., Singh, U., Gupta, A., Sahu, C., & Keshri, A. (2019). Descriptive statistics and normality tests for statistical data. Annals of Cardiac Anaesthesia, 22(1), 67-72. Mostafa, R. B. (2020). Mobile banking service quality: a new avenue for customer value cocreation. Int. J. Bank Mark. 38, 1107–1132. doi: 10.1108/IJBM-11- 2019-0421 Natarajan, T., Balasubramanian, S. A., & Kasilingam, D. L. (2018). The moderating role of device type and age of users on the intention to use mobile shopping applications. Technol. Soc. 53, 79–90. doi: 10.1016/j.techsoc.2018.01. 003 Nimako, S. G., Gyamfi, N. K., Mumuni, A. & Wandaogou, M. (2013). Customer Satisfaction with Internet Banking Service Quality in the Ghanaian Banking Industry. International Journal of Scientific & Technology Research, 2(7), 165-175. Norusis, M. J. (2011). IBM SPSS statistics 19 guides to data analysis. Upper Saddle River, New Jersey: Prentice Hall. Offei, M. O., & Nuamah-Gyambrah, K. (2016). The Contribution of Electronic Banking to Customer Satisfaction: A Case of GCB Limited. International Journal of Managing Information Technology, 8(1), 11pgs. Okechi, O., & Kepeghom, O. M. (2013). Empirical Evaluation of Customers' Use of Electronic Banking Systems in Nigeria. Business. https://www.semanticscholar.org › paper › Empirical-Eval. Ongkasuwan, J., & Tantichattanon, H. (2012). Internet banking. A survey of current and future development. Emerald Internet Research, 2(3), 323-339. Onuman, F., & Christopher, D. B. (2016). Prospects and Challenges of Electronic Banking in INTERNATIONAL JOURNAL OF ACADEMIC RESEARCH IN ACCOUNTING, FINANCE AND MANAGEMENT SCIENCES Vol. 1 3 , No. 2, 2023, E-ISSN: 2225-8329 © 2023 HRMARS 200 Societe Generale Ghana Limited: Evidence from Accra Metropolis. Research Journal of Finance and Accounting, 7(24), 43-55. Owens, J. (2006). RBAP Text-a-Payment and G-Cash Cash-in/Cash-out Services: Innovative Banking Services at Your Fingertips. Available: http://www.bwtp.org/asiamicrofinance /documents/JohnOwensRBAP.pdf. Raja, R. M. R., Muhd, Z. A. M., Shaza, R. S., & Noor, A. A. I. (2018). Relative importance index of sustainable design and construction activities criteria for green highway, Chemical Engineering Transactions, 63, 151-156. Raman, S. R., Alam, N., & Mphil, M. K. (2008). Information Technology in Malaysia: E-service quality and Uptake of Internet banking. Retrieved on [January, 2010] from World WideWeb:http://www.arraydev.com/commerce/JIBC/2008- 08/JIBCArticle_MuraliRaman. Rogers, E. M. (2003). Diffusion of innovations (5th ed.). New York: Free Press. Cited in: Kaminski, J. (2011).Diffusion of Innovation Theory. Canadian Journal of Nursing Informatics, 6(2). Theory in Nursing Informatics Column. ttps://cjni.net/journal/?p=1444 Rothschild, M., & Stiglitz J. (1976). Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information. The Quarterly Journal of Economics, 90(4), 629-649. Saha, P., & Zhao, Y. (2005). Relationship between online service quality and customer satisfaction, a study in internet banking, Master Thesis, Lulea University of Technology. Santos, J. A. R. (1999). Cronbach’s Alpha: A Tool for Assessing the Reliability of Scales. Journal of Extension, 37(2), 1-5. Scholtens, B., & Van Wensveen, D. (2003). The theory of financial intermediation: an essay on what it does (not) explain (No. 2003/1). SUERF Studies. Seitz, J., & Stickel, E. (2001). Internet banking—an overview. Electronic banking, 67-77 Shamsuddoha, M., & Alamgir, M. (2004). Loyalty and Satisfaction Construct in Retail Banking - An Empirical Study on Bank Customers. The Chittagong University Journal of Business Administration, (19), http://ssrn.com/abstract=1295427 Shankar, A., & Jebarajakirthy, C. (2019). The influence of e-banking service quality on customer loyalty: a moderated mediation approach. Int. J. Bank Mark. 37, 1119–1142. doi: 10.1108/IJBM-03-2018-0063 Shankar, A., Jebarajakirthy, C., & Ashaduzzaman, M. (2020). How do electronic word of mouth practices contribute to mobile banking adoption? J. Retail. Consum. Serv. 52:101920. doi: 10.1016/j.jretconser.2019.101920 Simon, V. T., & Thomas, A. S. R. (2016). Effect of electronic banking on customer satisfaction in selected commercial banks, Kenya. International Academic Journal of Human Resource and Business Administration, 2(2), 41-63. Singh, S., & Srivastava, R. K. (2020). Understanding the intention to use mobile banking by existing online banking customers: an empirical study. J. Financ. Serv. Mark. 25, 86–96. doi: 10.1057/s41264-020-00074-w Siriluck, R., & Speece, M. (2003). Business-to-Consumer Electronic Commerce Success Factors in Thailand: The Website Merchant Perspectives. Spence A. M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355– 374. Tabachnick, B. G., & Fidell, L. S. (2001). Using Multivariate Statistics, Allyn and Bacon, Boston, MA. Using Multivariate Statistics, 4th ed. Allyn and Bacon, Boston, MA. INTERNATIONAL JOURNAL OF ACADEMIC RESEARCH IN ACCOUNTING, FINANCE AND MANAGEMENT SCIENCES Vol. 1 3 , No. 2, 2023, E-ISSN: 2225-8329 © 2023 HRMARS 201 Yang, Z., & Jun, M. (2002). Consumer Perception of E-Service Quality from Internet Purchaser and Non-Purchaser Perspectives. Journal of Business Strategies, 19(1), 19-41. Yaseen, S. G., & El Qirem, I. A. (2018). Intention to use e-banking services in the Jordanian commercial banks. Int. J. Bank Mark. (36), 557–571. doi: 10.1108/ IJBM-05-2017-0082 Zhang, T., Lu, C., & Kizildag, M. (2018). Banking “on-the-go”: examining customers” adoption of mobile banking services. Int. J. Qual. Serv. Sci. (10), 279–295. doi: 10.1108/IJQSS07-2017- 0067	en_US
dc.identifier.issn	2225-8329
dc.identifier.uri	http://localhost:8080/xmlui/handle/123456789/30604
dc.description	STAFF/FACULTY PUBLICATION	en_US
dc.description.abstract	Abstract The study sought to investigate customers’ satisfaction about the quality, accessibility and challenges associated with electronic banking in Ghana with the Kumasi Metropolis as Focus. Quantitative research method with descriptive research design was used. The primary data obtained through purposive questionnaire were analyzed using Statistical Package for Social Sciences (SPSS), Principal Component Factor Analysis, and Relative Importance Index. The quality of electronic banking (e-banking), additional support services, benefits to banks, risks in internet banking, prompt responses and content format were regarded satisfactory; sophisticated software, diverse features, ease of use, banking cards, support services and environmental conditions were regarded quite satisfactory; internet connection, user’s ability to access, and availability of Automated Teller Machines (ATM) machines were however, unsatisfactory. The study concludes that customers have a mixed of positive and negative perceptions of e-banking services offered by commercial banks and suggests better means of raising funds to provide ATMs at vantage points and intensify their marketing to create more awareness. Keywords: Accessibility, Electronic Banking, Customers, Quality, Satisfaction	en_US
dc.description.sponsorship	CHRISTIIAN SERVICE UNIVERSITY	en_US
dc.language.iso	en	en_US
dc.publisher	CHRISTIAN SERVICE UNIVERSITY	en_US
dc.relation.ispartofseries	Vol. 13;No. 2
dc.subject	: Accessibility, Electronic Banking, Customers, Quality, Satisfaction	en_US
dc.title	Assessing Customers’ Perception of Electronic Banking Services: Evidence from Ghana Commercial Banks in Kumasi Metropolis	en_US
dc.title.alternative	International Journal ofacademic research in accouinting, finance and management science	en_US
dc.type	Article	en_US