Adopting Internet Banking in Ghana

Abstract

This study looks at the benefits, challenges and barriers in adopting Internet banking at a major bank in Ghana. The development of the Internet is changing the way financial services are provided in Ghana. The Internet banking facility has resulted in new ways of delivering banking services. The research is a case study based on the staffs that has worked with the bank for more than three years. In evaluating benefits, challenges and barriers to the bank in adopting Internet banking, interviews were conducted with some management staff and twenty other staff who were directly involved with customers with respect to daily banking services. Secondary data on Internet banking was available from the retail banking section of the bank. Literature on aspects of Internet banking (its adoption, benefits, challenges and barriers) was reviewed. The results of the study indicate that there are numerous benefits to the bank in adopting Internet banking, just as there are challenges and barriers. On the whole, however, the benefits outweigh the challenges and the barriers put together. This should encourage other banks to offer Internet banking to all of their retail customers in Ghana.

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