An empirical investigation into factors affecting the use of banking technologies by elderly citizens
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In this highly competitive business environment, banks are faced with the challenges of providing products which are relevant to their customers. In a quest of achieving this, there is a possibility of banks to redesign and integrate business processes and channels to achieve better market share. Karjaluoto et al. (2002) maintain that banks should keep a close look on how their customers respond towards service and products that are offered to them. This study determined the factors affecting the use of banking technologies by elderly citizens as customers of the banks. A quantitative research methodology was utilised in this study. A survey was conducted and 66 elderly citizens responded to the questionnaire administered to them. The study reveals that elderly citizens have average access to banking technologies and mostly A TM and the actual bank branch. Furthermore, the study reveals that elderly citizens are not comf01iable with using technological banking service and products due to lack of trust and confidence and futhermore they prefer human interaction when it comes to banking activities.