Analysis of online banking adoption among the senior population in Uganda: a case study of DFCU Uganda
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This study examined the online banking adoption among senior population in Uganda with reference to DFCU bank Uganda. The study was guided by three objectives: to establish the factors that influence online banking adoption by older persons at DFCU bank, to analyze causes of low seniors’ adoption of online banking in Uganda and to design strategies that can be used to increase online banking adoption of seniors at DFCU Bank Uganda. The study employed a cross-sectional, descriptive and explanatory research design with a mixed study approach which involved collecting numerical data from 87 respondents out of a sample of 111 older persons customers, using a survey questionnaire and interviewing 8 staff of DFCU bank. Data were analyzed using the statistical package for social science (SSPS Version 23) for quantitative data and Atlas ti for qualitative data. Respondents agreed that online banking saves time, improves service quality, and allows convenient access. They also agreed that Online banking, accessible through computers, is a problem-solving method that has been embraced by older individuals due to its ease of use and comfort. On the other hand, Online banking adoption among older individuals is hindered by fear of electronic fraud, preference for bank branches, connection loss, incorrect bill information, and complicated technology, requiring government computer literacy improvement. Other strategies included the banking sector is addressing challenges faced by older individuals by providing computer training, promoting online banking adoption, improving security, offering incentives, and extending ICT infrastructures. Therefore, the study recommended that commercial banks to improve on security through regulatory technology to control online fraud so that customers can use online banking. Furthermore, the study recommends that commercial banks increasing privacy when customers are using online baking platforms.