The rapid expansions and developments happening in the Information and Communication Technology fields are increasing competition in financial institutions worldwide. Thus, the deployment of advanced technologies is essential to achieve a competitive edge.
Recently, the banking industry was greatly affected by the technological evolution that transformed the way banks deliver their services, using technologies such as automated teller machines, phones, the Internet, credit cards, and electronic cash. In line with global trends, retail banking in Egypt has been undergoing many changes. In the past, banks faced significant uncertainty regarding investments in advanced technologies, but recently, banks have been investing heavily in technology to maintain a competitive edge. However, to better forecast the future, banks need to understand the different factors influencing customers’ choices between traditional and unconventional banking instruments.
Beyond the convenience and user-friendliness of it all, e-banking makes financial services accessible to everyone. This accessibility can alter the current economic and financial paradigm and could translate to higher cash flow solvency for banks and an overall healthier financial system.
