Abstract
The objective of this study is to assess the strategic Impact of Information, Communication and Technology (ICT) in the rural banking sector and the benefits of introducing ICT in Ghana. SPSS and Microsoft Excel were used to analyze the responses. The study reveals that the Atiwa Rural Bank lacks the desired technologies to support its operations but also had the advantages of limitation of customers’ waiting time, fast business with customers, cut down on its operating costs, provision of convenient banking services to its customers and attraction of a large customer base thereby increasing its revenue volume and also experiencing a sharp increase in its profit level since the deployment of Information, Communication, and Technology into its systems. Again, Lack of funds, as well as restrictive ICT policies by supervisory bodies like the Bank of Ghana and the ARB Apex Bank, were found to be influencing against the utilization of Information, Communication, and Technology. The study recommended that the management of Atiwa rural banks should attempt to bring on board more innovative technologies to help the bank survive the current wave of competition in the banking industry so as to contribute its roles to the economic development of the nation.
Highlights
The following conclusions were made after interactions were made with customers, intermediate and lower-level workers and management by the study conducted in the Anyinam Branch of the Atiwa Rural Bank
The customers expressed their awareness of the importance of the bank (Atiwa Rural Bank) using computers
These assertions make it clear that the bank, Atiwa Rural Bank uses Information and Communication Technology (ICT) in its operations and most of its customers are aware of its existence and importance
Summary
A nation cannot boast of development without having Information and Communication Technology (ICT) as its backbone. Information and Communication Technology (ICT) is in recent times the highway on which the success of every Nation or organization relies and cruise. Laudon & Laudon (2001), said that banking as a form of the business venture was introduced into Ghana in the year 1896 by the colonial masters in the Gold Coast to help in the governance of their colony. They are designed to serve the needs of rural communities
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