Patronage of Automated Teller Machine (ATM) in Free Banking in Ghana: the Case of Standard Chartered Bank- Harper Road Adum Branch, Kumasi
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Date
2008-08-10
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Abstract
In Ghana, 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). Most retail banking research has explored Automated* Teller Machine (ATM) usage entirely from the viewpoint of customers' demographics. This study evaluates the perceptions of banking customers regarding the effect of Automated Teller Machine (ATM) innovations on banking services in Ghana.
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The study also seeks to examine ATM usage patterns on the basis of customers' perceptions of the patronage of this innovation. Besides, it seeks to determine the association between customer ATM usage patterns and their perceptions of ATM attributes by identifying those variables which distinguish users like convenience, reliability, and suitability. The study focused on customers with banks that have at least one form of technological innovation. Furthermore, it indicates that most users perceive ATMs as mere cash dispensers. 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.
Successful marketing strategies must be adopted to focus on the most important attributes of ATMs as well as identify different user groups and develop strategies to maximize their patronage.
In fact, information about banking industry in Ghana cannot be traced easily, but the researcher managed to get information from other reliable sources. This study employed the following data collection techniques: document, questionnaire and interviews. The type of data collected was quantitative and qualitative.
The secondary data sources were mostly textual, data gathered from business periodicals and reports, professional periodicals, annual reports and' financial statements of Standard Chartered Bank and the library materials such as, textbooks, articles, with relevant materials on the topic as well as reports and publications from other local and international newspapers, journals and magazines were consulted; the aim is to find development of automation system of banking under discussion. The documents used for the study were written and edited by experienced and renowned authors and institutions.
Description
A Thesis submitted to the Department of Accounting and Finance, KNUST School of Business,in partial fulfillment of the requirements for the degree of Master of Business Administration (MBA) in Finance, 2008