Electronic Banking and Accessibility of Financial Services in Commercial Banks: Theoretical and Empirical Literature Review

Abstract

The Kenya 2030 vision for financial services aims at creating a vibrant and globally competitive financial sector that will create jobs and promote high levels of savings to finance the country’s overall investment needs. Electronic banking has influenced the provision of financial services in the world. It has enabled faster and efficient provision of financial services. Even though it has many advantages, electronic banking has its share of challenges such as security of accounts, access to the internet, technological failure, financial and technological literacy and regulatory challenges. This paper presents the background knowledge about electronic banking and accessibility of financial services by commercial banks. It then discusses the problem statement which includes the challenges faced by commercial banks in provision of financial services using electronic banking in Kenya. The paper progresses to review the theoretical and empirical literature in support of the title. It concludes by presenting findings of a benchmark case study done in Ghana on the effects of electronic banking on financial services and similar studies which are related to this study under findings and conclusion. Subsequently the paper provides insight for further research to be carried out under this area through providing a platform to research under conclusion and recommendations.