Institutional Trust and Affordability on Mobile Banking Adoption in Ghana: A System Dynamic Approach

Laud Ammah, Alexander Kriebitz and Luetge Christoph

Journal of Management and Sustainability, 2025, vol. 15, issue 1, 1

Abstract: Trust between mobile applications and humans is critical for a successful adoption in our society. This study aims to investigate mobile-banking (m-banking) adoption from an institutional trust (ICT performance and Fraud) and affordable mobile broad band point of view and their impact on m-banking adoption in Ghana. In this paper, we extended the Bass diffusion model using system dynamic approach and incorporated fraud, ICT performance and affordability of m-banking services and their effects on m-banking adoption in Ghana. The model is built using system dynamic methodologies (stock and flows), validated to confirm a real-life m-banking adoption behaviour, and simulated to analyse m-banking adoption response under different scenarios. The result shows that improving ICT infrastructure development, preventing cybercrime and reducing the cost of mobile data have a positive impact on m-banking adoption. However, affordability is the primary determinant of m-banking adoption in Ghana, although it can also be enhanced through tax incentives and policy schemes related to mobile communication technologies. The model currently relies on monetary aspects of ICT infrastructure, cybercrime, and broadband data pricing. However, to enhance the model’s reliability, it could be beneficial to expand its scope to include non-monetary factors and other relevant economic variables.

Date: 2025
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