Challenges and opportunities of Adopting E-banking services: The Case of Bank of Abyssinia
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Date
2021-03
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A.A.U
Abstract
The objective of this paper is to examine the current practice, challenges and opportunities of e banking adoption in case of bank of Abyssinia. The study follows descriptive research design and the data was collected from clerical staffs who worked in Addis Ababa branches and digital director of the bank by employing questionnaires for and interview methods. The secondary data was collected from several publications. Purposive sampling method was used to select respondents in branches. Quantitative and qualitative research approach used for the study. The quantitative data was analyzed by support of SPSS version 24 software using percentage, frequency, mean and standard deviation. Based on the finding from respondents, Bank of Abyssinia adopted several e banking products and services which enable the bank to compute successfully in the banking industry. ATM, POS, mobile banking, internet banking, virtual banking and agent banking are the major e banking products in bank of Abyssinia. Among the challenges of e banking identified by respondents security challenge is the major obstacle to implement e banking services effectively. Another challenges include customers resistance to change, lack adequate and of well-trained workforce and managerial efficiency, lack of sufficient government support and legal frame work, lack of public awareness, lack of ICT infrastructure and system failure, political instability, low economic development and low literacy rates. Despites of those barriers, there are some opportunities of e banking such as the existence of high demand, new government initiative about physical cash limit movement and security measures. In addition, the new upcoming banks also will facilitate the banking competition in near future. The number of mobile phone users is also increasing and it enables customers use several e banking products like mobile banking, internet banking and others.
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Keywords
Electronic banking, practices, challenges, opportunities, Bank of Abyssinia