Abstract
The goal of this study is to identify the major barriers to E-Banking adoption at Libyan commercial (public and private) banks. According to the results, there are significant barriers to E-Banking adoption: (Electronic Barriers, Regulatory Barriers and Cultural Barriers). The study also found that there were no differences between the respondents’ answers in the presence of these Barriers due to the Ownership of the Bank, where, almost all participants, whether from publicly or privately banks, seemed to agree on the Barriers to E-Banking Adoption. This research suggests that in order to effectively execute E-Banking in Libyan commercial banks, the following process needs to be taken, necessity Increasing staff of banks awareness of modern banking technologies. The government should create a favorable environment for this industry. It provides adequate education and technological support, and banks should build their own E-Banking strategic plans.
Highlights
Electronic banking has triggered massive change in the commercial banking practices since it was first introduced as “home banking” services by the four major New York banks in 1981 (Osho, 2008)
This study derives its importance from the following: 1) Knowing the Barriers that limit the adoption of electronic banking gives an indication to the decision-makers of Libyan commercial banks about the Regulatory, Electronic and Cultural weaknesses which allows the management of banks to evaluate the banking system and take appropriate strategies
3) The author hopes that this study will contribute to enriching scientific research in Libya in the field of electronic banking as this study is the first that deals with the study of the Regulatory, Electronic and Cultural Barriers that limit the adoption of electronic banking in Libyan commercial banks
Summary
Electronic banking has triggered massive change in the commercial banking practices since it was first introduced as “home banking” services by the four major New York banks in 1981 (Osho, 2008). This has made banks shift their focus on E-Banking (Chhaya & Mittal, 2021), where Online banking (Internet banking) has emerged as one of the most profitable e-commerce applications over the last decade (Lee, 2009). Electronic banking known as online banking is a modern behavior practiced by consumers and sellers to engage in financial transactions through Internet platforms and through the mobile systems such as mobile payment applications (Mohammed & Faleel, 2021). In the context of an information system, E-Banking is defined as an electronic payment system that customers can use to conduct their online financial transactions (Bouthahab & Geador, 2014; Kimiagari & Baei, 2021). Other authors define E-Banking as the use of the Internet to offer banking activities such as transferring funds, paying bills, monitoring the current account balance and savings, paying mortgages and purchasing financial instruments and certificates of deposit (Zyberi, 2021)
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