Maximizing the use of electronic banking for competitive advantage: A case study of the Zimbabwean commercial banking sector (2012 - 2013)

Abstract

This study sought to establish ways of maximizing the use of electronic banking for competitive advantage through understanding factors that determine customers’ usage of e-banking in Zimbabwe. A theoretical model was developed based on the technology acceptance model (TAM), a model which advances two beliefs: perceived ease of use (PEOU) and perceived usefulness (PU) as the main determinants of attitudes towards using new technology. The TAM incorporated control variables and tested their ability to predict customers’ behavioral intention to use e-banking. A questionnaire was used to collect responses from 200 banks’ customers from five banks with the largest branch networks. Respondents were selected using systematic random selection method from banks branch entrances. The findings of the study the usage of e-banking facilities in Zimbabwe is commendably high but trust, awareness of e-banking and its benefits; computer self-efficacy and auxiliary features have significant effect particularly due to their strong influence on perceived ease of use (PEOU) and perceived usefulness (PU). Demographics and resistance to change have mild impact except education and computer literacy which strongly promote computer self-efficacy. The results of this study are expected to aid the development of strategic plans that effectively promote customers’ usage of e-banking in the local and international banking community particularly in the region of Africa so as to maximize competitive advantage. The study incorporated discussion of the findings’ implications as well as suggestions for possible future research.