Internet Banking: an Initial Look at Ghanaian Bank Consumer Perceptions

Banks and Bank Systems, Volume 3, Issue 3, 2008

Atsede Woldie (United Kingdom), Robert Hinson (Ghana), Habib Iddrisu (United Kingdom),
Richard Boateng (United Kingdom)

Internet banking: an initial look at Ghanaian bank consumer perceptions Abstract
Internet banking is a tool in the service delivery arsenal for banks. This study focuses on client-bank relationship and on how Internet adoption may improve the qualitative relationship between banks and firms in Ghana and the business they serve. The study adopted a triangulation approach in meeting its objectives. A sample of 180 companies was sampled from the manufacturing, commerce, and services sectors of the economy. The findings of the study were mainly reported by means of descriptive statistics. The research findings indicate that Internet banking services are at their infant stage. Of the respondents, 68% had heard about Internet banking while 33% have never heard about it.
55% of the respondents said security concerns were the major barrier to the adoption of Internet banking. 55.6% of the firms that responded were not connected to the Internet whiles 44.4% were. Majority of the interviewees said they would still visit the bank even if their company adopts Internet banking. Access to their account balance and understanding customer needs are the most important factors for facilitating a good bank client relationship for firms in
Ghana and their banks. Banks in Ghana need to start considering the introduction of Internet strategies in the development of customer relationship management (CRM) programs, which will ultimately increase the customer lifetime value of their clients. The present paper is one of the first Internet banking studies from a West African context on the usefulness of Internet banking technologies to bank clients.
Keywords: internet banking, Ghana, service quality, consumer perceptions, Internet adoption.
JEL Classification: G21.

Introduction1
Over the last

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