CHAPTER ONE
1.1 INTRODUCTION
The use of information and communications technologies (ICTs) have changed the way of conducting business transactions and meeting the growing demands of customers for most organizations (Mimako, Gyamfi and Wandaogou, 2013). The use of ICTs has brought in new products, service market opportunities and developing more information systems that are business oriented and support management processes such as planning, controlling and co-ordination (Liao and Cheung, 2002; Liao and Cheung, 2008). One of the areas ICT has gained growing significance is in the banking sector where financial institutions seek to be more competitive, increase customer base, reduce transaction costs, improve the quality and timeliness of response, enhance opportunities for advertising and branding, facilitate self-service and service customization, and improve customer communication and customer relationship management (Garau, 2002).
Technology is making a tremendous impact upon service companies in general and the financial services sector is no exception (Worku, Tilahun and Tafa, 2016). The application of information and communication technology concepts, techniques, policies and implementation strategies to banking services has become a subject of fundamentals importance and concerns to all banks and indeed a prerequisite for local and global competitiveness in banking industry. As a result of this technological improvement business environment in financial sector is extremely dynamic and experience rapid changes and demands banks to serve their customer electronically (Worku et al., 2016).
E-banking have been widely used in developed countries and in developing economies; however, the spread of e-banking is much limited. As suggested by Claessens, Glaessner and Klingebiel (2000), developing countries in general have an advantage as they can learn from the experience of advanced economies. During the recent years, the development of e-channels have dramatically changed the rules and operation in the banking industry (Gunasekaran and Love, 1999; Worku et al., 2016). Aladwani mentioned that while the industry has moved instantly to deploy and offer new banking services via e-channels for customers and in consequence the e-banking services have boomed promptly (Aladawani, 2001).
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