Determinants of mobile banking adoption: case study of Ecobank Togo

Konan, Jean Tolla
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Strathmore University
The purpose of this study is to identify factors that influence the uptake of Ecobank mobile banking app in Lomé-Togo and rank them according to importance. The study examines five objectives around the uptake of mobile banking application: determine the importance of ease-of-use, determine and rate the importance of perceived relevance/usefulness, determine and rate the importance of perceived risks, determine and rate the importance of customer support, and determine and rate the importance of social trends. It uses quantitative research method. Data is collected through questionnaires, and desk review of secondary data, and presented through descriptive and inferential statistics for analysis. The research focused only on Ecobank in Togo specifically Lomé town. The study mainly used at two theories to explain what influences the adoption of technology innovation in society: The Theory of reasoned action (TRA) and the Technology Acceptance Model (TAM). It is the aim of this study that the insights will be used by Ecobank Togo to boost the uptake of mobile banking and thus increase customer base. A total of 3017 individuals were sampled however, only 1422 responded to the survey. Therefore, the response rate was 47%. This study concludes that the five adoption factors are significant influencers of mobile banking adoption in Togo. The study confirms that the first three independent variables (Ease of use, Perceived risk & Perceived usefulness) explains the dependent variable by over 87%, it means that if Ecobank wants to improve mobile banking adoption, it needs to invest its resources in the order of priority, on ease of use, perceived risk and Perceived usefulness. This will be very useful to bank in identifying the priority areas for intervention to tackle the current uptake hiccups. In addition, this study will help to build the knowledge base on adoption of mobile banking among employees of Ecobank as well as general public.
A Thesis submitted in partial fulfillment of the requirements for the award of the Degree of Masters of Business Administration at Strathmore University Business School
Mobile banking, Ecobank_Togo