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E-ISSN : 2288-2766

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Vol.3 No.2

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E-Banking Performance in Uganda: A Case Study of Bank of Uganda

East Asian Journal of Business Economics / East Asian Journal of Business Economics, (E)2288-2766
2015, v.3 no.2, pp.1-20
Alfred Nuwagaba (Cavendish University Zambia)
Alfred, N. (2015). E-Banking Performance in Uganda: A Case Study of Bank of Uganda. East Asian Journal of Business Economics, 3(2), 1-20.

Abstract

Online or e-banking has been adopted as key banking innovation in Uganda adopted by all financial institutions in the country. This research explored the state of e-banking and its efficacy in Uganda banking industry. A correlation analysis approach was adopted for this research. In Uganda, the banking sector has been liberalized with telecommunications allowed to effect e-banking and ecommerce transactions. The study concentrated on the periods of years 2011/2012 and 2012/2013. Findings from this research revealed that BOU uses UNISS for real time gross settlement (RTGS). Since its adoption a +1 coefficient correlation was realized. With the use of mobile money, also a +1 coefficient correlation was achieved for the period under consideration. As regards the use of e-cheques, there was a drop reflected by -2.8 percent which could have been attributed to perception of the users, though there was a +1 coefficient correlation when considering e-cheque transactions and the monetary value. The use of EFT in Uganda generated a +1 coefficient correction considering the number of users and the monetary value involved. Bank of Uganda should work hard and make or go live with electronic banking supervision software which would aid them with their supervisory roles.

keywords
E-banking, e-products, RTGS also called UNISS, Electronic clearing system, Electronic clearing system (ECS), local foreign currency clearing (LFCC), East African payment system (EAPS), regional payment and settlement system (REPSS), electronic funds transfer (EFT).

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