ABSTRACTThe study seeks to assess the purpose of the research, methodology, funding, conclusion and recommendations of information technology on financial inclusion among the financial institutions in Tain District. This contains the themes that were used to conduct the study basing on the core objectives; roles of ICT based products in …
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ABSTRACTThe study seeks to assess the purpose of the research, methodology, funding, conclusion and recommendations of information technology on financial inclusion among the financial institutions in Tain District. This contains the themes that were used to conduct the study basing on the core objectives; roles of ICT based products in attaining financial inclusion, challenges facing the use of ICT in driving financial inclusion and policy options to enhance the role of ICT in financial inclusion among the financial institutions. The study used survey design with purposive, convenience and stratified sampling methods in sampling 140 respondents for the study. Five financial institutions namely, Wenchi Rural Bank, Nkoranman Rural Bank, Baccsod, Berekum Teachers Cooperative Credit Union and Baduman Rural Bank were used. The following findings were found; On the roles of ICT based products in ensuring financial inclusion found a significant association on one Tailed table at confidence interval shows the probability values with the corresponding statements such as the web is used for both one-way dissemination of information through digitized words, the web has become a powerful tool for opening new portals of information services, ICT also provides the practical means through which citizens can enter the financial system and it is convenient and cost effective compared to paying visit to the bank branch located at nearby center. The study however found statistical insignificant relationship between statements such as ICT platform to create awareness on the concept of financial inclusion and ICT’s technological platforms are veritable tools and means for driving financial inclusion with the technical problems associated with the model, limited number of technology service providers. The study recommends that the government should support the financial institutions by reducing the high compliance costs, bureaucracy in registration and high cost of taxation for ICT based products.
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