Technological Innovations and Banking in Ghana: An Evaluation of Customers' Perceptions

Abstract

In Sub-Saharan Africa, developments in information and communication technology are radically changing the way business is done. These developments in technology have resulted in new delivery channels for banking products and services such as Automated Teller Machines (ATMs), Telephone Banking, PC-Banking, and Electronic Funds Transfer at Point of Sale (EFTPoS). This study evaluates the perceptions of banking customers regarding the effect of technological innovations on banking services in Ghana. The study focused on customers with banks that have at least one form of technological innovation. The results of the study generally indicate that, technological innovation or electronic delivery channels have contributed positively to the provision of banking services and the growth of the Ghanaian banking industry.

Ife Psychologia Vol.13(1) 2005: 170-187