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Customer Satisfaction on the Impact of I.C.T Based Products on Rural Banks: A Case Study of Anyinam-Rural Bank Limited in Ghana

John Wiredu*, Yu Bo, Qian Yang, Samuel Akwasi Agyemang

School of Management, Northwestern Polytechnical University, Xi’an China

Abstract: This research sought to assess customer satisfaction on the impact of Information and Communication Technology on Ghanaian rural banks. The extreme contest in the Ghanaian banking area has forced speedy changes due to high-tech innovations, improved awareness, and demands from customers. Nevertheless, some customers have shown their disappointment on unfortunate incidents such as; breakdown in-network, rampant breakdowns of Automated Teller Machine, to mention a few. Thus, the question one may ask is "how do I.C.T. based products contribute to the customer's satisfaction?" In response to the question, 300 questionnaires were given to the Anyinam rural Bank's retail customers randomly selected from one branch. Thus, I.C.T. based products chosen were A.T.M., Branch network, and Short Message Service Alerts. A Likert scale-typed survey was adopted with answers varying from strongly disagree, disagree, neutral, agree, and strongly agree. Also, Microsoft Excel was adopted to analyze the responses and outcomes showed that most of the respondents approve that I.C.T. based products contributed to their satisfaction. Henceforth, in conclusion, customers are satisfied with A.T.M. and SMS Alerts. However, they still use the branch network at least once a month due to limited A.T.M. withdrawal per day 3,000 GHC. Besides, the A.T.M.s cannot make inter-account transfers. The study recommended that Anyinam Rural Bank improve upon the performance of their A.T.M.s to increase customer satisfaction.

Keywords: I.C.T, satisfaction, customers, staff, rural banks, Anyinam, Ghana

Received October 17, 2021; Revised November 23, 2021; Accepted December 03, 2021

Citation: John Wiredu, Yu Bo, Qian Yang, Samuel Akwasi Agyemang, Customer Satisfaction on the Impact of I.C.T Based Products on Rural Banks: A Case Study of Anyinam-Rural Bank Limited in Ghana. Journal of Business and Management Sciences, 9 (4). 192-204. January 2021. doi:10.12691/jbms-9-4-5

1. Introduction

“Information and Communication Technology infrastructure expansion indeed defines the rate of progress of a nation or an association as reported by [1]. The capability to run and sustain the ICT infrastructure efficiently is crucial to the realization of a Country, and an association and administrators have vital functions to guarantee that. Also, [2] explained that banking as a form of the business enterprise was initiated into Ghana in 1896 by the colonial rulers in the then Gold Coast to assist in the domination of their colony. Thus, they are meant to operate the wants of rural areas.

It could be perceived that; Rural Banks are mainly founded to render banking assistance to the rural areas in which they function. More so, it also the network's investment primarily in the agricultural industry of the economy, likewise minor and middle scale businesses. By so doing, the bank managers execute a vital part in guaranteeing prosperous banking functions and performance. Furthermore, they are specially meant to serve the needs of rural areas. The record holds that in Ghana's pre-colonial period, trade among the people was term barter trade whereby goods were exchanged for goods. Similarly, items like shells, cowries, beads, etc., were approving as a means of exchange.

Thus, due to the above happenings, the BoG studied the rural carry system in the 1970s. The study revealed a clear gap in the present banking and credit system "with insufficient funds flowing throughout the systems to a huge number of rural debtors who needed credit most" [3]. The study suggested the formation of rural banks in the nation and representatives from the BoG was take to the Philippines to study the procedures of their rural banking structure. So, the Philippines was chosen to intend that it was among the little states that have effectively run such banks on a rationally huge scale. Again, their level of improvement was vital to ours. The Rural Banks were foremost founded in Ghana around 1976 to offer banking assistance to the rural people, offering credit to minor-scale agriculturalists and firms and supporting growth-related projects in rural areas. Thus, in 2002, one hundred and fifteen (115) rural banks had been founded, and they were managing by the clearing bank ARB Apex Bank under the law of the bank of Ghana which holds shares in the banks [4].

With the objective to serving this society competently and excellently, there is the necessity for these Rural Banks to introduce ICT in its functions and administration so to attain this aim since this current age has to do with ICT and also be capable of satisfying its customers to the highest. The part of technology in the "Information Age" is well known by the industry, business, and government and is totally intertwined into their administrative structures and tactical arrangement processes. Additionally, the incorporation of approaches, administrative structures, and business practices using specified information technology is a fundamental part of the performance management concept. Furthermore, the significant management component is information processing, and hence information technology structures are anticipated to affect significantly banking management.

1.1. Rural Banks in Ghana

Like in other Sub-Saharan states, Ghana customarily partook a succession of impediments such as low-income ranks, small household savings, low output, joblessness, and many others. Thus, it is through this that, in 1976, the leader of the government of Ghana via the BOG founded rural banks to offer credit to industrious rural projects and help rural growth. Therefore, rural development is a tactic planned to develop the value of life and the economic welfare of persons living in comparatively inaccessible and sparsely crowded areas. Again, in June 2006, the government of Ghana printed its next progress and poverty reduction strategy (GPRS II) between the year 2006 to 2009. Hence, the GPRS II is pointed to the goal of multiplying the size of the economy within the period, then getting the average per capita income of Ghanaians to the middle-income state level by 2015. Thus, this APR is the initial evaluation of growth made in enacting strategies described in the GPRS II and cover progress in 2006. Therefore, with the formation of rural banks and the introduction of ICT in its functions, management is anticipated to place extra effort to acquire the most satisfactory outcomes in the next evaluation by the (APR).

1.1.1. Statement of The Problem

A lot of the rural banks in Ghana are today providing ICT-based facilities with diverse levels of sophistication. Thus, ICT is projecting to advance service distribution and effectiveness in banks to the satisfaction of its customers. Furthermore, by this, it is expected to have considerable optimistic effects on bank efficiency, tellers’ work, banking operation, bank patronage, bank facilities distribution, customers plus bank services. Also, ICT, in the long run, is anticipated to increase on financial generality through a decrease of transaction cost, rising convenience, accessibility and timeliness of dealings and improved availability for fund management.

Nevertheless, customers have voiced their dissatisfaction through customer response media on the continues ATM damages, network failures, huge charges on visa-card-transactions and other things. It is in this view that the researcher takes to examine customer satisfaction on the effect of ICT and in what way is considered by Ghanaian rural banks to tailor-make it offers to the satisfaction of its customers. Also, to verify from the feelings of its customers on how good ICT products are made to suit the customer.

1.1.2. Research Objectives

This study targets at tackling a specific objective in developing the evaluation for extra analysis. Thus, the under listed are certain goals of the study;

I. To assess the different form of ICT established products used by Ghanaian Rural Banks.

II. To evaluate performance through the use of ICT.

III. To find out the effect of ICT established products to customer satisfaction.

IV. To relate Banking operations a time ago with the modern-day operations.

1.1.3. Research Questions

A. To what degree can the different forms of ICT established products used by Ghanaian Rural Banks assess?

B. How can performance be evaluated through the use of ICT?

C. To what degree can ICT based products give to customer satisfaction?

D. How different is a decade banking operation from current banking operations?

1.2. Significance of the Study

1.2.1. Theoretical Significance

After completion, this work would help the banking community in specific and the general public.

I. Administration, the business, and respected customers will be the principal shareholders to benefit from this study work.

II. An understanding of the usage of ICT established products may help develop customer satisfaction.

III. It was a debate that reports on ICT and bank operations are necessary. However, the developing part of ICT in-service distribution has been mostly overlooked, and limited study has been done on bank penetration.

IV. Previous studies of ICT adoption have generally been centered in the Cities. Hence, the current study tries to seal the theoretical gap.

V. This study would be of countless help to the administration of Anyinam Rural Bank; the study outcomes will be of enormous significance to their strategic role of verdict making. The outcomes of the study will enlighten them well and act as a standard for suitable decisions that will well place the bank on a respectable position for the attainment of their main objective, and on behalf of them.

1.2.2. Practical Significance

A. The administration of Anyinam Rural bank will be able, as a control measure or barriers relate their present performance with the ideal desired facilities level that the study work suggests.

B. This work will aid them to pinpoint their shortages and take steps to develop upon them. With this, the remedy will be discovered to iron out any customer displeasure wherever they exist.

2. Literature Review

2.1. Theoretical Review

Some years ago, there is a persistent effort regarding computerization in Ghana due to the rapid development of ICT. According to [5], ICT comprehends as "technologies that ease communication and the processing and transmission of information by electronic means. Thus, [6] intended to emphasize the customer's view of technology being used for distribution of financial goods and aids and in what way the customers can appreciate the influence of ICT in our day-to-day life. Also, Computers have given establishments with diverse means to their transactions, accounting, payment, as well as personnel management activities. Automation is the basis on which the prospect of the Ghanaian economy, specifically the financial part is being planned.

Automation of the undertakings of banking organizations is hence the standard of the day, worldwide. In contrast to commercial banks, rural and community banks stop late concerning the practice of such technology, specifically computers, and networking. Rural banking is the way of handling banking businesses in the nation wherever bank workplaces are incredibly distant from usage. Therefore, the rural banking is standard for small cities and cultivators who live afar from areas of more costly population and cannot create an effort to these places when they want to use banking facilities. Generally, an agent of the bank will go to these rural areas and offer deals in a legal ability [7]. Also, rural banks have the crucial responsibility in Ghana of rendering banking assistances to rural and communal Folks. So, these assistances include banking and creating interest for funds credited, making loans accessible to qualify rural folks, mainly persons in agri-businesses, minor trading, and small-scale manufacturing (Bank of Ghana, 2000).

[8] examined the effects and problems of ICT implementation in the banks. Moreover, their account states a condition for bankers to teach the community in the practice of online banking goods, finance extra in ICT infrastructure, and the government to reduce the dues on ICT devices. In this present day, the Ghanaian banking division has generated extreme contest levels [9]. However, regardless of the development in ICT, many of the roles of the rural banks are still done manually. Thus, this difficulty has decreased its competitive supremacy in the sector. It has become usual to witness the vast commercial banks expand their undertakings to cover target markets reserved for rural banks to expand their customer base, hence bringing the solid contest to the rural banks. ICT has broadened the range of banking practices and altered the type of banking and the competitive atmosphere in which they function. More so, a complete beginning has been experienced across the earth for banks. And they are currently taking correct benefit of these inventions to offer better client assistances in the look of the contest and quicker services that improve productivity [10].

2.2. Empirical Studies

There is no doubt that administrators cannot ignore Information Systems since they play a vital part in current establishments. Therefore, the practice of ICT philosophies, methods, rules, and execution tactics to banking services has become a matter of primary significance and interests to each bank and a condition for native and worldwide competitiveness. Again, ICT straightforwardly affects how administrators select, how they strategy, and what products, services; are offered in the banking sector. It has continued to alter the means banks and their corporate associations are designed worldwide, and the difference between modern devices obtainable to advance the quickness and quality of service distribution.

[11]. After the Greek economic crises, Loukis and his group embarked on a mission to analyze the ICT –related behavior of Greek banks from 2010-2014.

They concluded that apart from the normal urgent response to the crises by reducing ICT- associated costs, the Greek bank in a subsequent part of the economic crises kept to considerable reasoning of their ICT method and practices and improved their ICT capabilities likewise the usage of ICT ideas to the crises condition.

[12] Manda and his group embarked on a study to analyze the experience of rural customers on ICT-based banking products. Their goal was to investigate the patronage of ICT based bank products and services like ATM, credit cards, mobile banking, net banking and their acceptance among rural customers in Kannur district viz. from their study; they noted that most of the rural banks under the extend of the research are using ICT base services mentioned above. They also noted that most of the rural customers have already opted for e channel services, thereby reducing transactional cost. Based on their finding, it was suggested that more ICT-based products and services for rural banks enhance efficiency and productivity.

[13], Investigated the effect of ICT investment on the performance of the Lebanese bank. Using secondary data of banks from 2009 to 2016. They subjected the data into a rigorous analysis using a multivariate OLS model. The application such as ATM, Internet banking (IB), and Pont of sale devices (POS) does not significantly affect banks' performance. However, the application of Mobile banking (MB) and offering debit and credit cards to customers significantly and directly affect the performance of banks in Lebanon.

[14] In a similar spectrum, Nwakoby and his group examined the influence of ICT on the performance of deposit money taking banks in Nigeria between the periods of 2006 – 2015. They used the long-linear regression model to assess the effect of several kinds of ICT on banks' return on equity (ROE). Their result showed that the adaptation of several kinds of ICT has greatly influenced the quality of banking operations in Nigeria. Besides, it has specifically increased banks' return on equity.

[15], Asongu and his group assessed the role of ICT, more specifically internet and mobile telephone infiltration in complimenting the financial sector development for financial access. Their empirical evidence was based Generalized Method of the moment (GMM) of 53 African countries from 2004 through 2011. They established three main findings: - first, they found out that contact between ICT and financial solemnization increases financial activities. They realized there was a negative marginal effect from in- financial formalization; their overall net effect was positive. They also realized that the potential appealing contact among ICT and in-formalization produces positive thresholds within range.

[16] Lakshmi & Manoj investigating rural customer and ICT-based bank products in Kannur district conducted a similar study. Two banks were chosen for this work – Kannur District Co-operative bank and Kerala Gramin Bank. Their study showed that rural customers are more equipped to use various ICT- based services for better convenience and saving cost and time. They also released that ICT adaptation can tremendously increase service value and ensure high operational efficiency and competitiveness.

2.2.1. The Impact of ICT on Banks' Performance

According to [17], ICT contributes significantly to firm-level output. They establish that information machinery investment provides 81 % marginal rise in output, while non-information machinery investment provides 6%. Similarly, they show that information system professionals are more than twice as productive as non-information system professionals. [18] and [19], indicated that the association regarding information and communication technologies and bank performance have two promising effects. ICT can bring down the operational costs of the banks (the cost) advantage). For example, network technology aids and hurries up bank procedures to accomplish standardized and low value-added transactions such as bill payments and balance inquiry processes via an online network. ICT can encourage transactions between customers within the same network. ICT has entirely reshaped the landscape and the dimension of competition in the banking industry. Following the introduction of online banking, ATMs, and mobile banking, which are the initial targets of electronic banking, [20], pointed out that, an effort was made to assess the effect of ICT adoption on the selected bank clients of Bank of India. The investigator examined how the usage of IT affects the operations of a customers in terms of effectiveness, efficiency, competitiveness, customer base and globalization of the bank Information Technology led to increased customer satisfaction, improved operational efficiency, reduced transaction time, better competitive edge, reduced the running cost and ushered in swift response in service delivery.

2.2.2. ICT Based Products and Inventions by Ghana Rural Banks

There are several kinds of technological inventions or electronic delivery networks approved by banks. Thus, technological inventions have been recognizing to provide to the supply networks of Banks. These electronic distribution channels are together known as Electronic Banking. Hence, Electronic Banking is not a single technology; however, an effort to blend numerous different technologies. Furthermore, each of these developed in diverse ways, yet in current years distinctive groups and businesses have known the significance of operating together. Bankers today perceive a kind of progression in their business, relatively, since the world has occupied a huge leap in the usage of technologies in the latter numerous ages. Thus, the several electronic distribution networks are as follows; Automated Teller Machines (ATMs), Telephone Banking, Personal Computer Banking, Internet Banking, Branch Banking, and Electronic Funds Transfer at Point of Sale (EFTPOS). And these electronic distribution channels are the backbone to the current speedily progress in the Ghanaian Rural Banking system.

2.2.3. Challenges of Rural Bank

As at the period of its evaluation, the rural bank has been disturbed by their outstanding functioning, financial difficulties, and challenges that have hindered growth and weakened the performance of its basic functionality. Due to this, the BoG detached the banking certificate of twenty- three suffering rural banks in 1993/1994, additional twenty- three other rural banks in 1999/2000 and also three other rural banks in 2008/2009 [21]. [21] said that most noticeable of these woes are those that were connecting to liquidity, insufficient staffing, feeble management, small capitalization, low loan retrieval and profitability, unsuccessful internal control, and insufficient technology. Thus, he primarily categorizes the problems into four types:

I. Institutional Factors

II. Economic and Political Factors

III. Regulatory and Supervisory Factors

IV. Fraudulent Factors

Asiedu - Mante notwithstanding, was unable to concede the more significant risk of delivering credit to rural folks and industries, which are not paid for over high-interest charges. Though Credit services to improve agricultural developments in the rural regions are normally at the mercies of the climate and extra natural happenings.

The economic events in a local society may not be sufficient to aid the full functions of its area rural bank. In as far as rural banks create inventive answers to the peculiar trials they face in their services; extra capital savings can authorize them to vary their operations to lessening danger and manage surprises. A researcher by name Nair and fisher, 2010, provides numerous extra specific challenges and limiting outline of rural banks in Ghana. Their study, presented some essential factors like the low working environments for many rural banks and ability limitations, mainly regarding finance.

2.2.4. Service Quality and Customer Satisfaction

The service quality in business is a degree to which the service distributed meets the customer anticipations. The type of most facilities is such that clients are currently in the distribution course. Furthermore, this means that the view of quality is persuaded t by the service outcome and the service process. Thus, the perceived quality lies alongside a range. Also, customer satisfaction is the degree to which a company meets consumer wants, desires and hope [22]. Referring to [23], client satisfaction can be described as a conclusion of the satisfying level of utilization related to achievement comprising under fulfilment and over fulfilment.

Furthermore, customer satisfaction is vital since it aids firms to know what is vital because, whatever customer hopes are, and how good those hopes are being satisfied or met. According to [24], satisfaction is defined as a human opinion of desire or displeasure resulting from equating produce seen functioning relative to customer hope. Like the explanation makes clear, satisfaction is a role of seen performance and hopes. Therefore, if the performance is below expectations, then the customer is displeased. So, if the performance surpasses expectations, the customer becomes satisfied or happy.

In disparity, it is very vivid that several firms are targeting for high satisfaction since customers who are just pleased still find it cool to change when a superior offer occurs sideways.

According to [25], while sales are the best significant goal of any commercial business, it becomes crucial to satisfy customers. And for customer pleasure or satisfaction, it is required to ascertain and uphold certain vital features such as;

I. Quality

II. Fair prices

III. Good client control abilities

IV. Efficient delivery

V. Serious consideration of consumer complaints

It could be seen from the above circumstance that when customers scale their satisfaction with an element of the business performance- input, distribution- the business needs to know that customers differ in how they describe good supply.

3. Research Methodology

This section gives the approaches and procedures used to explore, investigate, and evaluate customer satisfaction on the effect of ICT on Ghanaian Rural Banks. The methodology purposely defines the research model, the research instruments, the data collection process, and also the procedure for the data analysis.

3.1. Research Design

In this research, a single approach was adopted: the survey research, which is among the best usual kinds of quantitative in social science research. So, survey study is a process used to get the information desired by giving out questionnaires to the associated populace. The survey research can be employed for explorative intention, explanatory or confirmatory, evaluation, prediction, operational research, and social indicators progress. It also permits the gathering of data about subjects that are entirely internal to the participant, such as attitudes, opinions, expectations, and intentions, and data on these areas are vital for the study. Moreover, it is regularly gotten by using a questionnaire; these data are standardized, allowing easy comparison by Saundeers et al., 2009.

3.2. Research Approach

This study uses a survey method to carry out the study. The survey method refers to a group of methods that emphasize quantitative analysis. Data for the study were collected through methods such as questionnaires, interviews, Etc., and these data are analyzed using statistical techniques.

3.3. Population and Sample Size

A population is a significant group of people understudy for this research, and it includes the whole individuals and objects of concern or measurement gotten from all individuals. By [26], the population comprises all elements, sharing some standard set of characteristics that includes the universe for the research problem.

Therefore, retail customers or Anyinam rural banks were used as the population for the study. This study employed a sampling technique, which, according to [27], is a group of events a researcher chose from a larger pool and generalized to the population. Using sampling decreases cost and makes it likely to assemble helpful information speedily and where samples were correctly chosen, precise results are assured. Due to this study's focus, 300 questionnaires were administered to 300 customers in one of the bank branches. The chosen branch was Anyinam.

3.4. Sampling Techniques

Here, the study used a simple random sampling technique in all events to choose the customers at the bank. It was to enable the researcher to access all the respondents at the occasion of data-gathering exercise. 

3.5. Data Collection Method

The data for the analysis was obtained from the field survey. Hence, descriptive analysis was primarily employed for the analysis. Customer satisfaction concerning ICT based products, descriptive statistics were used in the analysis of the outcomes. Again, the researcher used Microsoft Excel Program and SPSS to produce the outcomes. Because this research is exploratory, no thorough statistical technique was employed in evaluating the data.

3.6. Research Instrument

The study used the structured technique to get the proper information desired to meet the purposes of the study. Thus, this method uses a structured questionnaire. The questionnaire was the key research instrument employed to gather the data for studying to realize the precise objectives and taking into concern the sample size. For easy understanding and reading, the questionnaire was designed into three parts. Thus, the first portion of the survey took into consideration the demographic factor of the respondents. Also, the second portion of the survey considered the service quality and customer satisfaction. lastly, the third part is also about the effect of ICT established products to customer satisfaction. The surveys were closed ended-questions making it more straightforward for respondents to comprehend and reply. Also, it helped the explanation of data by regulating different answers. Thus, a Likert scale-typed survey was employed with replies varying between strongly disagree, disagree, neutral, and strongly agree.

4. Analysis and Discussion

4.1. Data Analysis

Here, the data for the study was extracted from the field survey. Descriptive analysis was used for the analysis. Customer satisfaction concerning ICT based products, descriptive statistics were employed to analyze the results. The study employed Microsoft Excel Program and SPSS to generate the results. Since this research is exploratory, no rigorous statistical technique was used in analyzing the data.

4.2. Organizational Profile

Anyinam Rural Bank Limited, like the centered case study, is the leading impressive rural banks in the Eastern area of Ghana, which is in Atiwa East District. Atiwa East Constituency is among the few inherently gifted areas primarily comprised of several communities with agricultural as their principal livelihood. The Anyinam Rural bank was incorporated as a Limited Liability Corporation under the companies' code, Act 179 of 1963 in January 2000 and was accredited to commence a business in June 2001. The Head Office is located at Atiwa - Kwabeng in the Eastern area of the Bunso to Nkawkaw highway and roughly twenty-five (25) kilometres from Anyinam. Credit share capital, loans, investment, and assets had since, in 2002, enhanced very greatly.

4.3. Socio-Demographic Data

The socio-demographic data is taken to know the respondent's personal information which helped understand their satisfaction with its ICT modernization. Therefore, this part included gender of respondent, the age distribution, marital status, religious background, educational level, and income level.

4.3.1. Gender of Respondents

The outcomes as shown by Figure 1 displays that, out of the 300 respondents, 200 were males then 100 females, which illustrates a whole representation of both sexes at the branches. This evidently portrays that genders' opinions were evenly represented in this study.

Figure 1. Gender of Respondents (Source: Field Work (2021))

4.3.2. Age of Respondent

The age of the respondents ranged from 20-35, 36-45, and above 45. Table 1 shows that many of the respondents were between 20-35 and 36-45, respectively, which denotes the total sample size.

Table 1. Age of Respondent

4.3.3. Marital Status of Respondent

The table below shows that the more significant number of the respondents were single, depicting 40%, followed by married with 36.67%. Likewise, 7.66% did not state their marital status followed by divorce with 7.00% respectively.

Table 2. Marital Status of Respondent

4.3.4. Type of Job Respondents

The respondents who replied the surveys were classified into three sets, i.e., Unskillful or semi-skilled workers, educated staff workers, and vocationally educated craftsperson. An aggregate sum of one hundred and thirty-one (131) signifying 43% are unskillful or semi-skilled workers whereas an aggregate number of ninety-two (92) representing thirty-one per cent (31%) are trained office workers. Also, seventy-seven (77) respondents are vocationally trained craftsperson representing twenty- six per cent (26%). The figure below gives the detail information on the type of job respondents.

Figure 2. Type of Job Respondents (Source: Field Work (2021))

4.3.5. Religion of Respondents

The respondents' religious beliefs as represented by Table 3 displays that, 50% of the respondents being the majority, are Christians, 33.33% being Muslims, and 7% representing other religions, then 9.67% also being a traditionalist.

Table 3. Religion of Respondents

4.3.6. Educational Level of Respondents

The BECE/WASSCE certificate holders from Figure 3 below, indicating 49% were highest, which shows that the bank is not for the educated but accessible to all no matter the educational level. Next were the Degree holders with 17%, diploma with 28% and 6% having a postgraduate degree, followed them.

Figure 3. Educational Level of Respondents (Source: Field survey (2021))

4.3.7. Income level of Respondents

Table 4. Income level of Respondents

The income level data disclosed that greater number of the respondents received income less than Ghc 1,000 depicting 59%, followed by Ghc 1,100-5,000 representing 32%, 5,100-10,000 signifying 6.67%, 10,100-20,000 denoting 1.67% and above 50,100 indicating 0.67%.

4.4. Service Quality and Customer Satisfaction

When examining the service quality and customer satisfaction, the researcher merged some questions under the second objective to determine these intentions. Hence, the variables involved:

a) Banking environment

b) Service

c) Products

d) Staff

4.4.1. Banking Environment

The banking environment customer's satisfaction assessed by taking the respondent's answers in parts such as the banking hall's tidiness, easy accessibility to branches, spacious banking halls, and parking lots. As presented in Figure 4 below, the more significant number of respondents depicting 43% agreed that the banking halls were tidy, followed by 22% who strongly agreed, 13% similarly disagreed, 17% strongly disagree, and 5% were neutral that banking halls were tidy.

Figure 4. Tidiness of Banking Halls (Source: Field Work (2021))

4.4.2. Easy Accessibility to Branches

Figure 5. Branch location is easily accessible (Source: Field survey (2021))

The place where the branches are can trigger difficulty to customers once they are not well-positioned. Thus, the outcome from Figure 5 displays the large number of the respondents indicating 43% agreed that the branch localities were easily accessible, followed by 18% who were neutral, 15% also strongly disagreed, 13% disagreed and 11% strongly agreed that the branch locations were easily accessible.

4.4.3. Spacious Banking Halls

How spacious banking halls and parking lots persuaded customer satisfaction of the banking setting significantly. Majority of the respondent agreed that the bank's banking hall and parking lots were spacious denoting 49% and 43% respectively. It is displayed in Figure 6 and Figure 7 correspondingly.

Figure 6. Spacious banking hall (Source: Field survey (2021))

Figure 7. Parking lots are spacious (Source: Field survey (2021))

4.4.4. Service

Service is another aspect that has a significant bearing on how a customer becomes satisfied with an institution. Service might come in various ways; i.e., easy accessibility to loans, timely service delivery, and customer grievance reply. Well, managing of customer grievances improves customer satisfaction and retention. Also, most of the respondents approved their easy accessibility to loans, timely service delivery, and instant response to customer grievances representing 48%, 45%, and 41% correspondingly. However, 15%, 12%, and 10% too, respectively disagreed. It is display in Figure 8, Figure 9 and Figure 10 below;

Figure 8. Easy Accessibility to Loans (Source: Field survey (2021))

Figure 9. Timely Service Delivery (Source: Field survey (2021))

Figure 10. Swift Response to Customer Complaints (Source: Field survey (2021))

4.4.5. Products

Products are mean to meet customers desires and want, and hence they should meet their requirements.

Table 5. Products meet their Need

As shown from the table above, most of the respondents denoting 43% agreed that the products met their needs, and 26.67% were neutral. Similarly, 10% strongly agreed, 13.33% disagreed and 6.67% strongly disagreed that products met their wants. However, the majority too agreed that the features of the products were exceptional from the other banks.

Figure 11. Product Features Are Unique from Others (Source: Field survey (2021))

4.4.6. Staff

With a persistent meeting with customers, the banks' team must have specific abilities that encourage their customers' satisfaction. By this, they must perform their services with speed, welcoming and sociable, and better understand the needs of the clients and banking products appropriate to meet those needs.

Table 6. Staff is friendly and Easy to Approach

Like indicated by Table 6 above, the staffs were understood to be friendly and welcoming as illustrated, 45% being the majority. The mass also agreed that the staff understood the bank's products; they also comprehended customer needs and wants and discharge service swiftly. Furthermore, this is display in the diagrams below:

Figure 12. Understanding of Bank's Products (Source: Field survey (2021))

The Figure 12 above depicts that 41% of the respondents agreed that staff have a better understanding of bank products, 7% of them disagreed, 18% are neutral, 15% similarly strongly agreed that staff understand the bank’s products and 19% strongly disagreed that statement.

Figure 13. Staff Understand Customer Needs and Wants (Source: Field survey (2021))

Customer needs and wants are incredibly essential to all service association. Hence, management measures to go afar and satisfy their customers by offering them what they need and want. Figure 13 above displays that when respondents are being solicited about how staff understand their needs and want, 45%, 15% agreed and strongly agreed that they understand their needs and wants. Also, 25%, 2% strongly disagreed and disagreed correspondingly. However, 18% were neutral about the issue.

Figure 14. Staff Execute Service with Speed and Accuracy (Source: Field survey (2021))

Figure 14 shows that 41%, 15% of the respondents agreed and strongly agreed that indeed staff does fine to perform service with swiftness and precision respectively. Whereas 7% and 19% of the respondents disagreed and strongly disagreed correspondingly to the point that they do so. Also, 18% of the respondents were neutral.

4.5. Impact of ICT Based Product towards Customer Satisfaction

Table 7. Impact of ICT based Products on Customer Satisfaction

Figure 15. Frequency of Visit to Branch (Source: Field survey (2021))

Among the kind of ICT product used by customers, the ATM happens to be the most commonly accepted and excessively used electronic provision tool as given in the table above. The branch network and SMS alert follow correspondingly. Thus, SMS Alert, the latest electronic banking invention, appears to be the slightest used electronic distribution network by bank customers. Meanwhile, the ATMs are the commonly accepted and vastly delivery network. Thus, it is vital at this point to establish the regularity of its usage among bank customers.

As shown by the above, majority of the customers go to the branch once a month. Although 5% of visits sometimes, 33.33% go to the branches every week, and 11.66% visiting daily. The outcomes also reveal that customers of banking services in Ghana still find it worthwhile to go to their bank branches every month to transact some banking business. Such as detailed bank statement requests, loan applications, foreign funds transfer, and deposits, to mention a few. for the ATMs cannot be used. Again, the respondents visited regularly or sometimes since the majority agreed that they have access to their fund everywhere, a close branch is. It saved them time and cost going to their original branches. It is shown in Figure 16 and Figure 17 below.

Figure 16. Accessibility to funds anywhere branch is located (Source: Field survey (2021))

Figure 17. Branch Network Saves Time and Transportation Cost (Source: Field survey (2021))

4.5.1. ATM

ATM remains the utmost generally used ICT product in a bank transaction. Table 8 displays outcomes on the frequency of ATM usage among bank customers. The outcomes display that customer frequently use the ATMs for bank transactions such as cash transfers, checking account balance, and printing mini statements. 50% of the respondents, who used ATMs, specified that they visit ATM points twice a week. They had diverse use of the ATM machine-like for a mini statement, checking account balances, and making a cash withdrawal. Nevertheless, persons who go there one to three times in a month were mostly for cash withdrawal reasons.

Table 8. ATM

The regular visits also were because the respondents said that the ATM reduced the time involved in the bank transactions, reduced long queues in the banking hall, and improved access to funds wherever the ATMs were positioned. This is displayed in the Figure 18, Figure 19 Figure 20 below.

Figure 18. ATM Reduces Time Involved in Bank Transaction (Source: Field survey (2021))

Figure 19. ATM Reduces Long Queues in Banking Hall (Source: Field survey (2021))

Figure 20. ATM Enhances Ability to Access Accounts at Any Location (Source: Field survey (2021))

4.5.2. SMS Alert

The SMS alert, although a moderately latest product by the bank, most of the respondents agreed that it gives them instant notification of debit or credit on their accounts. It specified in the diagram below;

Figure 21. Instant Notification of Debit or Credit in My Account (Source: Field survey (2021))

Figure 21 signifies that 57%, 21% of the respondents agreed and strongly agreed correspondingly that instant notifications of debit or credit are giving to them on their account. However, 2%, 5% disagreed and strongly disagreed respectively that the bank does not send them an instant notification of debit or credit on their account. At the same time, 15% of them were neutral.

4.6. Challenges Using ICT Based Products

Figure 22. Challenges using ATM, SMS, Telephone Banking and Internet (Source: Field survey (2021))

Figure 22 above, 72% of respondents representing yes said they face many challenges using the products (ATM, SMS, Telephone Banking, and Internet Banking). Nevertheless, 28% says otherwise because they feel happy using the products.

5. Conclusion

Anyinam Rural Banks management appreciates delivering quality service through ICT is a crucial tactical element in firm profitability. The significance of service provision and its influence on improving satisfaction and retaining customers, improving sales and market share, as well as improving shared image, cannot be ignored.

Furthermore, the study showed that ICT based products have a meaningfully positive influence on customer service. Therefore, this affects the development of Anyinam Rural Bank positively since customers can now amass money from any branch of the bank. Moreover, clients do not have to travel about with vast amounts of money, and customers served within a short period.

From the study, ICT now understands to hold the assurance of the latest business transformation by offering a cheap means of service provision to customers. Hence, this transformation in the market place has set an indication of a transformation within the banking business to deliver a payment structure that is well-suited with the requests of the electronic market place. With this, the progress in ICT has confidently initiated the latest distribution networks in Anyinam Rural Bank.

Additionally, for the type of ICT established product utilized by customers, ATM happens to be the utmost extensively known and greatly used electronic provision device. The next is the branch network and SMS alert, which appears to be the slightest used electronic provision network by its customers. The work also found out that most of the Anyinam Rural Bank customers nevertheless go to their bank branches frequently and find communication with human cashiers extremely essential.

The outcomes recommend that upgrading the service excellence throughout ICT proficiency will increase the general customer opinion of the excellence of service given by the bank. Whatever arises from the current study is that the customers of the bank generally seem satisfied with the high-tech sides of Anyinam Rural Bank. It is a clear indication that Anyinam Rural Bank ought to focus their efforts on those capacities’ customers sense are vital; that is; accuracy, timeliness, and convenience.

These are areas in which technology (capital expense) has been well utilized to replace costlier labor resources to accomplish essentially those services that the client is accustomed to doing for himself. In other words, most customers are now familiar with the basic service provided by ATMs and bank websites and thus expect that these services will be user-friendly, and in the case of ATMs, conveniently located and insecure positions. At the same time, some banks have already started implementing the augmenting electronic bank delivery services that customers have come to expect. Anyinam Rural Bank has taken its electronic service delivery a step further to stay one step ahead of their competitors.

Finally, the trend toward greater Internet usage, especially among younger users, suggests that Anyinam rural banks may need to re-evaluate their customer base on a more frequent and routine basis.

6. Recommendations

The research proposes that Anyinam rural bank delivery of banking service across ICT need to focus its energies in the following areas.

I. Anyinam rural banks must unearth means of making their electronic facility extra user-friendly. Again, fixing several ATM outlets is a problem that customers consider essential and yet not being attended to customer satisfaction. More so, Anyinam rural bank Limited must likewise offer customers with a toll-free number. This number can handle customer grievances and over-all response to electronic banking services. It might offer a service to unrestricted customers and offer the banks with precious trends for the prospect improvement of electronic service.

II. Anyinam rural bank ought to expand the safety of ATMs by creating well-lit at night-time.

III. Anyinam rural bank should develop their electronic services to serve the aged and disabled. Hence, ATMs that read out the keys pressed would help the sight-impaired, thereby lowering ATM screens creating the service accessible to persons in wheelchairs.

IV. Rural Banks should also know that customer response is an established theory of strategic planning. Thus, the study proposed that the performance of Anyinam rural banks be regularly checking. It is significant as isolated checking might give views only and not precisely illustrate movements.

V. The management of Anyinam rural banks should be well informed to organize regular marketing research studies on their customers, to incorporate increasing a database comprising the demographic and psychographic profile of its customer base. So, such a database would later permit the management to create a further informed choice about the level of the personal team to ensure good service delivery. Though extra research needs to be conducted to tackle the lack of information in the area, the current study positively offers future researchers with some essential parts in which to begin.

Acknowledgements

We wish to express our heartfelt gratitude to the various researchers who work were cited.

Abbreviation

IB: Internet Banking

MB: Mobile Banking

LAN: Local Area Network

ROE: Return on Equity

SPSS: Statistical Package for Social Science

GPRS: Growth and Poverty Reduction Strategy

APR: Annual Progress Report

ARB: Association of Rural Banks

BOG: Bank of Ghana

ATM: Automated Teller Machine

SMS: Short Message Service

WAN: Wide Area Networks

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