Electronic Banking in Rural Banks – Effects on Livelihoods of People in Bogoso

Abstract

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. Over the past decade, electronic business has grown as an emerging industry. In recent years, the banking industry has strived on the emergence of the internet and has taken advantage of it to get competitive advantage over its competitors. A descriptive case study design approach was adopted in the methodology in which seventy questionnaires were administered through a gatekeeper, retrieved and used for analysis. The content of the questionnaire were formulated based on the discussions in the reviewed literature (primarily on the TAM) and with respect to the objectives outlined in the study. Furthermore, using statistical package for social sciences (SPSS) version 25, the data obtained was analyzed using descriptive statistics and simple linear regression analysis. The study further revealed that all the dimensions in the TAM had strong and positive significant relationships with electronic banking adoption. In order to make electronic banking more attractive and to increase returns on investments, it is important for rural and community banks to understand the critical success factors that influence customers adoption of the service.