Electronic Banking Adoption Among Smes Banking With Gcb Bank Limited: Evidence From Accra Metropolis

Abstract

ABSTRACT Small and medium-sized businesses (SMEs) in Ghana are adopting e-banking due to its ability to significantly reduce information search and transaction expenses, making business operations more efficient with payment, credit processing, and other tasks taking less time. Dwelling on the technology acceptance model, and the institutional theory, this study adopted the quantitative research approach and the explanatory research design to assess the adoption of electronic banking and its effects among small and medium-sized enterprises within the Accra Metropolis that transact banking businesses with GCB Bank limited. The study sought to examine the adoption of e-banking among SMEs concerning the awareness level of SMEs on e-banking, SMEs' level of knowledge and usage of e-banking, benefits derived from e-banking adoption, and the challenges firms encounter when adopting e banking. The study used a quantitative method and questionnaires as a means of data collection. The result of the study indicated that SMEs of the selected branches of GCB are generally aware of the various e-banking platforms available at their respective branches. The study revealed that an average of 65.9% of SMEs stated that difficulty in assessing e-banking services informs their decision to use e banking products in their businesses. Finally, ignorance of SMEs regarding the security of e-banking services was identified as one of the main challenges affecting the smooth adoption of e-banking services among SMEs. The study recommended that SMEs should consider their weakness before adopting e-banking