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ABSTRACT
The research on e-Business Adoption and Customer Loyalty in the Banking Sector in Nigeria was carried out to ascertain what factors are responsible for customers’ acceptance and use of e-business technology in the banking sector. Using the extended Technology Acceptance Model (TAM), the study is aimed at establishing the relationship between Perceived Ease of Use, Perceived Usefulness, Perceived Credibility, Perceived Risk, e-Banking Adoption, and Customer Loyalty. A total of 391 responses (gotten via the administration of questionnaire) from bank customers within Benin City were used for the analysis with the aid of the Pearson’s Correlation Matrix and Regression Analysis. It was therefore discovered that there exist a positive relationship between Perceived Ease of Use, Perceived Usefulness, Perceived Credibility, e-Banking Adoption and Customer Loyalty, with e-Banking Adoption having the most influence on Customer Loyalty. However, Perceived Risk was discovered to have a negative relationship with Customer Loyalty. In the light of the findings, it is hereby recommended that banks through their IT departments/ software developers should ensure to channel their technological innovations towards getting customers to accept their e-banking platforms by making it more useful in carrying out transactions, easy to use, credible/dependable and also ensure the fortification of the systems in order to minimize the risk involved in its use, thereby guaranteeing the safety of customers’ deposits.
