Assessing the adoption of electronic banking during the Covid 19 pandemic: a case study of Centenary Bank Uganda

Abstract

Electronic banking, through which various innovations such as agent and mobile banking are encompassed, is one of the ventures that can be embraced to enhance financial inclusion for economic growth in Uganda today. The Coronavirus Disease 2019 (COVID 19) instigated a pandemic that brought with it several challenges such as the extended lockdown periods, where the populace that once freely interacted with each other was prohibited from doing so to contain the virus. This study investigated the adoption of electronic banking during the COVID 19 Pandemic in Uganda. A Cross-sectional descriptive research design was adopted based on the population comprising of Centenary Bank customers and staff. The sample size was 100 customers, selected using purposive and simple random sampling methods. Interview guides and checklists were used to collect data from the respondents. The study revealed that most of the respondents had adopted electronic banking and used the service more regularly since the onset of the Covid-19 Pandemic, with mobile banking as the most used form of electronic banking. Given the findings, most customers found the cost of electronic banking services and security threats as the most challenging factors to the adoption of the practice. The study recommended reduced costs for transactions and investment in security to enhance the adoption of electronic banking today, among other factors.