Technology and Service Quality in the Banking Industry in Ghana

Abstract

Globally, retail banks are entering a new era. Setting out a clear strategy is becoming more difficult as regulatory and political intervention changes the market structure, and banks are under enormous pressure to restore public confidence in the role that they play in society. As banks respond to these structural pressures across markets and strive to obtain a competitive advantage, the challenge remains to keep the customer experience and wider brand perceptions central to all strategic thinking; in terms of technology and service quality. This research is aimed at the analysis of technology and service quality in the banking industry in Ghana. The research made use of both primary and secondary data instruments for data gathering; questionnaires were used for gathering primary data and the internet, organization’s website, Board minutes and brochures were means for secondary data collection. The population for the study was staff and customers of six Ghanaian Banks and the sample was restricted to 500 respondents. Data was analyzed and presented in tabular and graphical forms; tables, and bar graphs. This research has reinforced that there are few global trends in retail banking, as customer perceptions are driven by a range of things, including many cultural differences, varying levels of overall market maturity and significant differentials in technology and service quality. It is vital to recommend that banks combine their knowledge of the customer base with the technology available to improve their service offerings to ensure quality.

Keywords: Technology, Service quality, and bank