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Information Technology Usage and Customer Acceptance in the Banking Sector: a Case Study of Guaranty Trust Bank, Kigali, Rwanda

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Information Technology Usage and Customer Acceptance in the Banking Sector: a Case Study of Guaranty Trust Bank, Kigali, Rwanda INFORMATION TECHNOLOGY USAGE AND CUSTOMER ACCEPTANCE IN THE BANKING SECTOR: A CASE STUDY OF GUARANTY TRUST BANK, KIGALI, RWANDA KWIZERA JOHN MIS/0067/13 A Research Project Submitted in Partial Fulfillment for the Award of the Degree of Master of Science in Information Science (Information and Communication Technology Option) of Mount Kenya University DECEMBER 2016 DECLARATION This research proposal is my original work and has not been presented for a degree in any other University or for any other award. Student Name: Kwizera John Registration number: MIS/0067/13 Sign_________________________ Date______________________ I confirm that the work reported in this research proposal was carried out by the candidate under my supervision. Name: Prof. Raymond Wafula Ongus, PhD Sign________________________ Date______________________ ii DEDICATION This work is dedicated to my wife Mrs. Mbabazi Janet and my children Akaziguye Faith, Kwizera Prince Emmanuel, Kwizera Prince Samuel and my sister Mukarukundo Immaculate, for their love, care and commitment towards my success. iii ACKNOWLEDGEMENT The success of this research was a result of many people’s efforts that deserves appreciation. I would like to express my deep appreciation to my supervisor Professor Raymond Wafula Ongus and Mr. Philip Mbugua, for their support, guidance and encouragement over the past months to accomplish this research. My sincere thanks go to the staff of Mount Kenya University Kigali Campus, whose analytical skills and knowledge enabled me to produce this work. I convey my sincere thanks to MIS students, especially 2013-2014 intake, for their good cooperation and advice. My heartfelt gratitude goes to my late father; Mr. Magenda Canizio and my late mother Mrs. Mukakimenyi Mary Josephine for their love, financial and moral support they offered me since childhood. I am forever grateful to my uncle Mr. Bahorana Augustin and family for their endless assistance. Finally, my sincere thanks go to my family who has been helpful. Their love and support plays a big role towards the success of my education. iv ABSTRACT The study was inspired by the arising issues of concern related to why customer accounts were inactive. It was not known whether the customers really enjoyed using information technology to access their accounts or whether there were various challenges experienced in the process of using the services. The aim of the study was to examine effect of Information technology usage on customer acceptance at GTBank, Kigali Rwanda. The study would provide knowledge, to improve on information technology and design more strategies for better planning. It would also be helpful to customers by widening knowledge and understanding of information technology available. The research design was a case study, with target population of 20,335 customers who used either ATM, Internet banking or mobile banking technologies, 3 e-banking staff and 5 GTBank branch managers. The total sample size was 401 respondents, selected through simple random sampling and purposive sampling. Data was collected by means of questionnaires and interviews. A pilot study was carried out at I&M bank, which had similar information technology usage by customers for testing the reliability of the questionnaires. The data analysis tool used was Statistical Package for Social Sciences (SPSS) version 16.0. Data analysis methods included frequencies, percentages, tables, weighed means, standard deviations and multiple regression analysis to determine the correlation between variables. Findings revealed that Mobile banking and ATM were mostly used more than Internet banking, depending on features of use and security. ATM features were more accepted compared to Internet banking and Mobile banking features. Multiple regression analysis found R the coefficient of correlation to be 0.927 signifying a very strong positive correlation between information technology and customer acceptance. The P- value was found to be 0.001, hence statistically significant at the 95% confidence level. The coefficient of determination R2 = 0.859 indicated that 85.9% of the variability in customer acceptance depended on stochastic model developed, whereas the remaining 14.10% was attributed to factors beyond the control of the study. The study recommended trainings of customers and awareness campaigns about Internet banking technology so as to promote technological knowhow; high speed of the Internet, solved by broadband and 4G LTE to increase the number of customers using it in time. The study also recommended the provision of security awareness, to increase trust of customers using information technology provided by GTBank. v TABLE OF CONTENTS DECLARATION .............................................................................................. i DEDICATION ................................................................................................ iii ACKNOWLEDGEMENT ............................................................................. iv ABSTRACT ...................................................................................................... v TABLE OF CONTENTS ............................................................................... vi LIST OF TABLES .......................................................................................... ix LIST OF FIGURES ......................................................................................... x LIST OF ABBREVIATIONS AND ACRONYMS ...................................... xi OPERATIONAL DEFINITIONS OF KEY TERMS ............................... xiii CHAPTER ONE: INTRODUCTION ............................................................ 1 1.0 Introduction .......................................................................................................................1 1.1 Background of the Study ..................................................................................................1 1.2 Problem Statement ............................................................................................................5 1.3 Objectives of the Study .....................................................................................................6 1.3.1 General Objective ..........................................................................................................7 1.3.2 Specific Objectives ........................................................................................................7 1.4 Research Questions ...........................................................................................................7 1.5 Significance of the Study ..................................................................................................7 1.6 Limitations of the Study....................................................................................................8 1.7 Scope of the Study ............................................................................................................8 1.7.1 Content Scope ................................................................................................................8 1.7.2 Geographical Scope .......................................................................................................9 1.7.3 Time Scope ....................................................................................................................9 1.8 Organization of the study ..................................................................................................9 CHAPTER TWO: REVIEW OF RELATED LITERATURE ................. 10 2.0 Introduction .....................................................................................................................10 2.1 Theoretical Literature ......................................................................................................10 vi 2.1.1 Information Technology in Banking ............................................................................10 2.2 Empirical Literature ........................................................................................................14 2.2.1 Internet Banking and Customer Acceptance ................................................................14 2.2.2 Mobile Banking and Customer Acceptance ................................................................19 2.2.3 Automated Teller Machine and Customer Acceptance ...............................................23 2.2.4 Customer Acceptance of Information Technology ......................................................26 2.3 Critical Review and Research Gap Identification ...........................................................32 2.3.1 Critical Review ............................................................................................................32 2.3.2 Research Gap Identification .........................................................................................34 2.4 Theoretical Framework ...................................................................................................34 2.5 Conceptual Framework ...................................................................................................38 2.5.1 Independent Variables .................................................................................................38 2.5.2 Dependent Variable .....................................................................................................40 2.6 Summary .........................................................................................................................40
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