Assessing internet banking adoption rate by clients in commercial banks in Uganda; A case of Centenary Bank

Abstract

The purpose of the study was to assess internet banking adoption rate by customers of commercial banks in Uganda case of centenary bank. It was guided by a number of objectives, that is; to determine the factors that influence internet banking adoption rate by customers, to examine importance of internet banking adoption to customers and to come up with strategies that will improve internet banking rate in commercial banks. A cross sectional research design was used. The study utilized both descriptive and analytical, in that it describes and assesses the internet adoption rate in commercial banks. Simple random sampling design was also used to select respondents in centenary bank majorly in Kampala. The results indicated that internet banking is highly challenged and there are many factors affecting adoption, internet banking was of great value and it was necessary for the banks to attach greater value on internet banking for efficiency in the banking process and there are a number of strategies that could be adopted to improve internet banking.

From the results, a number of recommendations were made that include; need for the banks to take steps in solving the factors affecting internet banking, need to emphasize the value of internet banking by attaching greater value to it and encouraging clients of the bank to use internet by encouraging internal consultations and support to clients and need to develop practical strategies that can improve internet banking.