Technology and banking operations: Perspectives of international students in a Ghanaian University

https://doi.org/10.35912/amor.v4i1.1485
Published: May 12, 2023

Abstract:

Purpose: The study analysed perceptions of international students in a Ghanaian private university college on the effect of information technology on banking operations as they have experienced it in Ghana.

Research methodology: A mixed methods research approach was used for this study. Data were collected from 60 international students who were sampled randomly from the population of international students in the college. Descriptive statistics from IBM SPSS Statistics 24 was used to analyse quantitative data, while thematic analysis was used to analyse qualitative data.

Results: Findings showed that even though information technology affects banking operations positively by making operations efficient, easier and faster for both employees and customers; it has increased the rate of fraudulent banking activities. This has exposed clients and employees alike, to a higher risk of fraud and other fraud-related activities.

Limitations: This study was limited to international students of a private university college in Ghana. Data were collected from an online survey; hence a limitation to the number of international students who participated in the study.

Contribution: Despite the fact that information technology influences banking operations in Ghana positively, it has resulted in increased fraudulent activities related to banking operations. This requires that policymakers improve online security in the banking space.

Novelty: There is an emphasis that though technology’s use in banking operations has a positive effect, it also presents banking institutions with an increased risk of fraud as perceived by international students schooling in a private tertiary institution in Ghana.

Keywords:
1. banking operation
2. banking fraud
3. management
4. information technology
5. e-banking
Authors:
1 . Hanatou Laya Moussa
BlueCrest University College, Ghana
2 . Anita Bans-Akutey
BlueCrest University College, Ghana
https://orcid.org/0000-0003-0305-9377
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How to Cite
Moussa, H. L., & Bans-Akutey, A. (2023). Technology and banking operations: Perspectives of international students in a Ghanaian University. Annals of Management and Organization Research, 4(1), 21–33. https://doi.org/10.35912/amor.v4i1.1485
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Issue & Section
Vol. 4 No. 1 (2022): August
Articles
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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

References

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    Ada, ?., & Ghaffarzadeh, M. (2015). Decision making based on management information system and decision support system. European Researcher(4), 260-269.

    Adesola, M., Moradeyo, O., & Oyeniyi, K. (2013). Impact of information and communications technology on Nigerian banks operations: A study of United Bank for Africa (UBA) Plc. International Journal of Business and Management Invention, 2(9), 7-12.

    Agama, V. E. (2017). Effect of Electronic Banking on Service Delivery to Customers of UniCredit.

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    Alshubiri, F., Jamil, S. A., & Elheddad, M. (2019). The impact of ICT on financial development: Empirical evidence from the Gulf Cooperation Council countries. international Journal of engineering business management, 11, 1847979019870670.

    Ankumah, T., & Bans-Akutey, A. (2021). Effect of Management Information System on the Productivity of Livestock Farming in Ghana: A Case Study of Selected Pig Farmers in Akuapem. Global Scientific Journal, 9(8), 607-614.

    Appiahene, P., Missah, Y. M., & Najim, U. (2019). Evaluation of information technology impact on bank’s performance: The Ghanaian experience. international Journal of engineering business management, 11, 1847979019835337.

    Baltar, F., & Brunet, I. (2012). Social research 2.0: virtual snowball sampling method using Facebook. Internet Research, 22(1), 57-74.

    Bans-Akutey, A. (2019). Staff perceptions on paperless management–A qualitative study of RPS Engineering Services Ghana Limited. International Journal of ICT and Management, 6(1), 6-14.

    Bans-Akutey, A. (2022). The Influence of Technological Development on Organisational Productivity. International Journal of Science and Research (IJSR), 11(5), 1641-1648.

    Bans-Akutey, A., & Ebem, D. (2022). E-leadership and adaptation to technological development of telecommunication businesses in Ghana. Annals of Management and Organization Research, 3(4), 259-269.

    Bans-Akutey, A., & Sowah, J. K. (2020). EXAMINING MANAGEMENT INFORMATION SYSTEMS IN HEALTHCARE ADMINISTRATION AT THE SUNYANI WEST DIS-TRICT OFGHANA. GSJ, 8(10), 489-499.

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    Button, M., Nicholls, C. M., Kerr, J., & Owen, R. (2014). Online frauds: Learning from victims why they fall for these scams. Australian & New Zealand journal of criminology, 47(3), 391-408.

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    Chen, Y. (2018). Blockchain tokens and the potential democratization of entrepreneurship and innovation. Business horizons, 61(4), 567-575.

    Creswell, J. W., Plano Clark, V. L., Gutmann, M. L., & Hanson, W. E. (2003). Advanced mixed methods research designs. Handbook of mixed methods in social and behavioral research, 209(240), 209-240.

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    Fernando, A. J. (2020). How Africa is promoting agricultural innovations and technologies amidst the COVID-19 pandemic. Molecular Plant, 13(10), 1345-1346.

    Ghorbani, S., & Khanachah, S. N. (2020). Provide a model for establishing a comprehensive knowledge management system in knowledge-based organizations based on success factors. Annals of Management and Organization Research, 2(1), 1-12.

    Hla, D., & Teru, S. P. (2015). Efficiency of accounting information system and performance measures. International Journal of Multidisciplinary and Current Research, 3(2), 976-984.

    Indrasari, A., Nadjmie, N., & Endri, E. (2022). Determinants of satisfaction and loyalty of e-banking users during the COVID-19 pandemic. International Journal of Data and Network Science, 6(2), 497-508.

    Khan, M. M. R. (2020). Strategic human resource management in facilitating the organizational performance: Birds-eye view from Bangladesh. Annals of Management and Organization Research, 2(1), 13-24.

    Khanam, S., Siddiqui, J., & Talib, F. (2013). Identification of Total Quality Management Enablers and Information Technology Resources in the Information and Communication Technology Industry. Paper presented at the Khanam, S, Siddiqui, J. and Talib, F.(2013),“Identification of Total Quality Management Enablers and Information Technology Resources in the Information and Communication Technology Industry”, Proceedings of International Conference on Smart Technologies for Mechanical Engineering (STME-2013), org.

    King, D. (2019). The future of us fraud in a post-emv environment. Federal Reserve Bank of Atlanta.

    Kumar, V., Reinartz, W., Kumar, V., & Reinartz, W. (2018). Software Tools and Dashboards. Customer Relationship Management: Concept, Strategy, and Tools, 171-178.

    Kwami, J. D. (2020). Gendered Digital Inequities in African Contexts: Measuring and Bridging the Gaps.

    Lakens, D. (2022). Sample size justification. Collabra: Psychology, 8(1), 33267.

    Lekwauwa, N., & Bans-Akutey, A. (2022). Commercial banks’ profitability and portfolio management in Ghana. Annals of Management and Organization Research, 3(4), 245-257.

    Makambe, U., & Moeng, G. J. M. (2020). The effects of leadership styles on employee performance: a case of a selected commercial bank in Botswana. Annals of Management and Organization Research, 1(1), 39-50.

    Marcus, B. I. (2018). EFFECT OF INFORMATION COMMUNICATION TECHNOLOGY ON PERFORMANCE OF BANKS IN NIGERIA. Retrieved from https://www.academia.edu/49225695/EFFECT_OF_INFORMATION_COMMUNICATION_TECHNOLOGY_ON_PERFORMANCE_OF_BANKS_IN_NIGERIA

    Mawere, M. (2012). Critical reflections on the principle of beneficence in biomedicine. Pan African Medical Journal, 11(1).

    McDonald, R. L. (2013). Contingent capital with a dual price trigger. Journal of Financial Stability, 9(2), 230-241.

    Mittal, A., & Gupta, S. (2013). Emerging role of information technology in banking sector's development of India. ACADEMICIA: An International Multidisciplinary Research Journal, 3(9), 11-17.

    Mogaji, E., Soetan, T. O., & Kieu, T. A. (2020). The implications of artificial intelligence on the digital marketing of financial services to vulnerable customers. Australasian Marketing Journal, j. ausmj. 2020.2005. 2003.

    Mwangi, Y. K. (2014). The effect of risk management on financial performance of commercial banks in Kenya. University of Nairobi.

    Naab, R., & Bans-Akutey, A. (2021). Assessing the use of e-business strategies by SMEs in Ghana during the Covid-19 pandemic. Annals of Management and Organization Research, 2(3), 145-160.

    Okeke, U., Bans-Akutey, A., & Sassah-Ayensu, M. (2021). Benefits and risks associated with the use of blockchain and cryptocurrency as a form of payment in Ghana: A Case Study of Selected Bitcoin Trading Companies: IJICTM.

    Panchal, A. C., Khadse, V. M., & Mahalle, P. N. (2018). Security issues in IIoT: A comprehensive survey of attacks on IIoT and its countermeasures. Paper presented at the 2018 IEEE Global Conference on Wireless Computing and Networking (GCWCN).

    Phina, O. N., Ogechukwuand, N. N., & Shallom, A. A. (2021). Organizational climate and employee engagement: A commercial bank perspective in Southeast Nigeria. Annals of Management and Organization Research, 2(3), 161-173.

    Shetty, A. A., & Murthy, K. V. (2022). Investigation of Card Skimming Cases: An Indian Perspective. Journal of Applied Security Research, 1-14.

    Sims, R. R., & Bias, S. K. (2021). Human Resources Management and Ethics: Responsibilities, Actions, Issues, and Experiences (Contemporary Human Resource Management Issues Challenges and Opportunities): Information Age Publishing.

    Siyanbola, T. T. (2013). The effect of cashless banking on Nigerian economy. eCanadian Journal of Accounting and Finance, 1(2), 9-19.

    Tamaruddin, T., Firdaus, A., & Endri, E. (2020). Customer satisfaction mediates the effect of self service technology on customer loyalty in of islamic bank E-banking services in indonesia. ILTIZAM Journal of Shariah Economics Research, 4(2), 1-15.

    Tomasic, R. (2011). The financial crisis and the haphazard pursuit of financial crime. Journal of Financial Crime.

    Umuhoza, E., Ntirushwamaboko, D., Awuah, J., & Birir, B. (2020). Using unsupervised machine learning techniques for behavioral-based credit card users segmentation in africa. SAIEE Africa Research Journal, 111(3), 95-101.

    Uwaje, C. (2000). Nigeria choke under information overload. Guardian, January, 25, 2000.

    Whitty, M. T. (2013). The scammers persuasive techniques model: Development of a stage model to explain the online dating romance scam. British Journal of Criminology, 53(4), 665-684.

    Wiredu, J., Labaran, U. I., Nketiah, E., & Osibo, B. K. (2020). The impact of information and communication technology (ICT) on rural banks management. A case study of Atiwa-Rural bank limited in Ghana. American Journal of Industrial and Business Management, 10(10), 1681.

    Zahedi, M. R., & Khanachah, S. N. (2020). The impact of customer assisted knowledge production capacity on customer capital in a knowledge-based center. Annals of Management and Organization Research, 1(2), 107-121.

    Zunzunegui, M. V., Belanger, E., Benmarhnia, T., Gobbo, M., Otero, A., Béland, F., . . . Ribera-Casado, J. M. (2017). Financial fraud and health: the case of Spain. Gaceta sanitaria, 31, 313-319.

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  2. Ada, ?., & Ghaffarzadeh, M. (2015). Decision making based on management information system and decision support system. European Researcher(4), 260-269.
  3. Adesola, M., Moradeyo, O., & Oyeniyi, K. (2013). Impact of information and communications technology on Nigerian banks operations: A study of United Bank for Africa (UBA) Plc. International Journal of Business and Management Invention, 2(9), 7-12.
  4. Agama, V. E. (2017). Effect of Electronic Banking on Service Delivery to Customers of UniCredit.
  5. Ali, M. A., Azad, M. A., Centeno, M. P., Hao, F., & van Moorsel, A. (2019). Consumer-facing technology fraud: Economics, attack methods and potential solutions. Future Generation Computer Systems, 100, 408-427.
  6. Alshubiri, F., Jamil, S. A., & Elheddad, M. (2019). The impact of ICT on financial development: Empirical evidence from the Gulf Cooperation Council countries. international Journal of engineering business management, 11, 1847979019870670.
  7. Ankumah, T., & Bans-Akutey, A. (2021). Effect of Management Information System on the Productivity of Livestock Farming in Ghana: A Case Study of Selected Pig Farmers in Akuapem. Global Scientific Journal, 9(8), 607-614.
  8. Appiahene, P., Missah, Y. M., & Najim, U. (2019). Evaluation of information technology impact on bank’s performance: The Ghanaian experience. international Journal of engineering business management, 11, 1847979019835337.
  9. Baltar, F., & Brunet, I. (2012). Social research 2.0: virtual snowball sampling method using Facebook. Internet Research, 22(1), 57-74.
  10. Bans-Akutey, A. (2019). Staff perceptions on paperless management–A qualitative study of RPS Engineering Services Ghana Limited. International Journal of ICT and Management, 6(1), 6-14.
  11. Bans-Akutey, A. (2022). The Influence of Technological Development on Organisational Productivity. International Journal of Science and Research (IJSR), 11(5), 1641-1648.
  12. Bans-Akutey, A., & Ebem, D. (2022). E-leadership and adaptation to technological development of telecommunication businesses in Ghana. Annals of Management and Organization Research, 3(4), 259-269.
  13. Bans-Akutey, A., & Sowah, J. K. (2020). EXAMINING MANAGEMENT INFORMATION SYSTEMS IN HEALTHCARE ADMINISTRATION AT THE SUNYANI WEST DIS-TRICT OFGHANA. GSJ, 8(10), 489-499.
  14. Baran, M. L. (2016). Mixed methods research for improved scientific study: IGI Global.
  15. Berdik, D., Otoum, S., Schmidt, N., Porter, D., & Jararweh, Y. (2021). A survey on blockchain for information systems management and security. Information Processing & Management, 58(1), 102397.
  16. Bhatt, A., & Bhatt, S. (2016). Factors affecting customers adoption of mobile banking services. The Journal of Internet Banking and Commerce, 21(1).
  17. Bonsu, O.-A. M., Dui, L. K., Muyun, Z., Asare, E. K., & Amankwaa, I. A. (2018). Corporate fraud: Causes, effects, and deterrence on financial institutions in Ghana. European Scientific Journal, 14(28), 315-335.
  18. Button, M., Nicholls, C. M., Kerr, J., & Owen, R. (2014). Online frauds: Learning from victims why they fall for these scams. Australian & New Zealand journal of criminology, 47(3), 391-408.
  19. Cai, L., & Zhu, Y. (2015). The challenges of data quality and data quality assessment in the big data era. Data science journal, 14.
  20. Chen, Y. (2018). Blockchain tokens and the potential democratization of entrepreneurship and innovation. Business horizons, 61(4), 567-575.
  21. Creswell, J. W., Plano Clark, V. L., Gutmann, M. L., & Hanson, W. E. (2003). Advanced mixed methods research designs. Handbook of mixed methods in social and behavioral research, 209(240), 209-240.
  22. Cudjoe, A. G., Anim, P. A., & Nyanyofio, J. G. N. T. (2015). Determinants of mobile banking adoption in the Ghanaian banking industry: a case of access bank Ghana limited. Journal of Computer and Communications, 3(02), 1.
  23. Ebuka, A. A., Nzewi, H. N., Gerald, E., & Ezinne, K. M. (2020). Digital literacy in a post Coronavirus era: a management perspective for small businesses in Africa. Annals of Management and Organization Research, 1(3), 203-212.
  24. Fernando, A. J. (2020). How Africa is promoting agricultural innovations and technologies amidst the COVID-19 pandemic. Molecular Plant, 13(10), 1345-1346.
  25. Ghorbani, S., & Khanachah, S. N. (2020). Provide a model for establishing a comprehensive knowledge management system in knowledge-based organizations based on success factors. Annals of Management and Organization Research, 2(1), 1-12.
  26. Hla, D., & Teru, S. P. (2015). Efficiency of accounting information system and performance measures. International Journal of Multidisciplinary and Current Research, 3(2), 976-984.
  27. Indrasari, A., Nadjmie, N., & Endri, E. (2022). Determinants of satisfaction and loyalty of e-banking users during the COVID-19 pandemic. International Journal of Data and Network Science, 6(2), 497-508.
  28. Khan, M. M. R. (2020). Strategic human resource management in facilitating the organizational performance: Birds-eye view from Bangladesh. Annals of Management and Organization Research, 2(1), 13-24.
  29. Khanam, S., Siddiqui, J., & Talib, F. (2013). Identification of Total Quality Management Enablers and Information Technology Resources in the Information and Communication Technology Industry. Paper presented at the Khanam, S, Siddiqui, J. and Talib, F.(2013),“Identification of Total Quality Management Enablers and Information Technology Resources in the Information and Communication Technology Industry”, Proceedings of International Conference on Smart Technologies for Mechanical Engineering (STME-2013), org.
  30. King, D. (2019). The future of us fraud in a post-emv environment. Federal Reserve Bank of Atlanta.
  31. Kumar, V., Reinartz, W., Kumar, V., & Reinartz, W. (2018). Software Tools and Dashboards. Customer Relationship Management: Concept, Strategy, and Tools, 171-178.
  32. Kwami, J. D. (2020). Gendered Digital Inequities in African Contexts: Measuring and Bridging the Gaps.
  33. Lakens, D. (2022). Sample size justification. Collabra: Psychology, 8(1), 33267.
  34. Lekwauwa, N., & Bans-Akutey, A. (2022). Commercial banks’ profitability and portfolio management in Ghana. Annals of Management and Organization Research, 3(4), 245-257.
  35. Makambe, U., & Moeng, G. J. M. (2020). The effects of leadership styles on employee performance: a case of a selected commercial bank in Botswana. Annals of Management and Organization Research, 1(1), 39-50.
  36. Marcus, B. I. (2018). EFFECT OF INFORMATION COMMUNICATION TECHNOLOGY ON PERFORMANCE OF BANKS IN NIGERIA. Retrieved from https://www.academia.edu/49225695/EFFECT_OF_INFORMATION_COMMUNICATION_TECHNOLOGY_ON_PERFORMANCE_OF_BANKS_IN_NIGERIA
  37. Mawere, M. (2012). Critical reflections on the principle of beneficence in biomedicine. Pan African Medical Journal, 11(1).
  38. McDonald, R. L. (2013). Contingent capital with a dual price trigger. Journal of Financial Stability, 9(2), 230-241.
  39. Mittal, A., & Gupta, S. (2013). Emerging role of information technology in banking sector's development of India. ACADEMICIA: An International Multidisciplinary Research Journal, 3(9), 11-17.
  40. Mogaji, E., Soetan, T. O., & Kieu, T. A. (2020). The implications of artificial intelligence on the digital marketing of financial services to vulnerable customers. Australasian Marketing Journal, j. ausmj. 2020.2005. 2003.
  41. Mwangi, Y. K. (2014). The effect of risk management on financial performance of commercial banks in Kenya. University of Nairobi.
  42. Naab, R., & Bans-Akutey, A. (2021). Assessing the use of e-business strategies by SMEs in Ghana during the Covid-19 pandemic. Annals of Management and Organization Research, 2(3), 145-160.
  43. Okeke, U., Bans-Akutey, A., & Sassah-Ayensu, M. (2021). Benefits and risks associated with the use of blockchain and cryptocurrency as a form of payment in Ghana: A Case Study of Selected Bitcoin Trading Companies: IJICTM.
  44. Panchal, A. C., Khadse, V. M., & Mahalle, P. N. (2018). Security issues in IIoT: A comprehensive survey of attacks on IIoT and its countermeasures. Paper presented at the 2018 IEEE Global Conference on Wireless Computing and Networking (GCWCN).
  45. Phina, O. N., Ogechukwuand, N. N., & Shallom, A. A. (2021). Organizational climate and employee engagement: A commercial bank perspective in Southeast Nigeria. Annals of Management and Organization Research, 2(3), 161-173.
  46. Shetty, A. A., & Murthy, K. V. (2022). Investigation of Card Skimming Cases: An Indian Perspective. Journal of Applied Security Research, 1-14.
  47. Sims, R. R., & Bias, S. K. (2021). Human Resources Management and Ethics: Responsibilities, Actions, Issues, and Experiences (Contemporary Human Resource Management Issues Challenges and Opportunities): Information Age Publishing.
  48. Siyanbola, T. T. (2013). The effect of cashless banking on Nigerian economy. eCanadian Journal of Accounting and Finance, 1(2), 9-19.
  49. Tamaruddin, T., Firdaus, A., & Endri, E. (2020). Customer satisfaction mediates the effect of self service technology on customer loyalty in of islamic bank E-banking services in indonesia. ILTIZAM Journal of Shariah Economics Research, 4(2), 1-15.
  50. Tomasic, R. (2011). The financial crisis and the haphazard pursuit of financial crime. Journal of Financial Crime.
  51. Umuhoza, E., Ntirushwamaboko, D., Awuah, J., & Birir, B. (2020). Using unsupervised machine learning techniques for behavioral-based credit card users segmentation in africa. SAIEE Africa Research Journal, 111(3), 95-101.
  52. Uwaje, C. (2000). Nigeria choke under information overload. Guardian, January, 25, 2000.
  53. Whitty, M. T. (2013). The scammers persuasive techniques model: Development of a stage model to explain the online dating romance scam. British Journal of Criminology, 53(4), 665-684.
  54. Wiredu, J., Labaran, U. I., Nketiah, E., & Osibo, B. K. (2020). The impact of information and communication technology (ICT) on rural banks management. A case study of Atiwa-Rural bank limited in Ghana. American Journal of Industrial and Business Management, 10(10), 1681.
  55. Zahedi, M. R., & Khanachah, S. N. (2020). The impact of customer assisted knowledge production capacity on customer capital in a knowledge-based center. Annals of Management and Organization Research, 1(2), 107-121.
  56. Zunzunegui, M. V., Belanger, E., Benmarhnia, T., Gobbo, M., Otero, A., Béland, F., . . . Ribera-Casado, J. M. (2017). Financial fraud and health: the case of Spain. Gaceta sanitaria, 31, 313-319.