Effect of ICT on the financial achievements of Atwima Kwanwoma rural bank, Ashanti region

Abstract

Information and communication technology has for the last four decades become very popular with major commercial banks in Ghana. Presently, rural banks in Ghana have also computerized and networked their operations. Atwima Kwanwoma rural bank, with the support of Bank of Ghana, has helped embark on nationwide computerization of all the banks in Ghana. This research study aims to examine the impact of information technology on the financial performance of Atwima Kwanwoma rural bank in the Ashanti Region. Perceptions of the management staff of the bank, branch managers, staff members and customers were collected using a survey method. In all 40 people were sampled from Atwima Kwanwoma Bank. Questionnaires were used to collect data randomly from the customers and staff of the Bank. Two types of questionnaires were prepared and distributed among staff and customers. Both semi-structured and 6-point Likert scale questionnaire were developed. Data findings established that information technology has a positive linear relationship with the financial performance of banks. The study concludes that we can say information technology has a positive impact on the image, goodwill and growth of Atwima Kwanwoma rural bank. The study recommends that customers should be prioritized by Atwima Kwanwoma rural bank before information technology. It is vital to set the needs and wants of customers first before you introduce any technological program or device.