Adapting ICT system in the Sri Lankan banking sector a case study of critical success factors from two Sri Lankan public banks

Abstract

Banking is the sector where ICT systems are used extensively and successfully. But, the Sri Lankan banking sector, it is not the same. Because there are two sectors such as public and private. The initial data has shown that public sector is fairly lagging behind than private sector. There may be multiple factors contributing it. Based on that, this research is focusing on what are the challenges faced by public bank employees who are implementing the ICT systems and the employees who are using the implemented ICT systems. However, in order to encourage the introduction of new ICT systems it is essential to identify and remedy the challenges faced by all levels of employees in the implementation process. This research aims to find out the critical success factors and the gap analysis of the challenges faced by System Designers, Chief Information Officers (CIOs), Heads of IT and ICT systems users in implementing and using IT systems in their banks. Technology Acceptance Model (TAM) and Task Technology Fit (TTF) model are the tools widely used to identify problems faced in introducing and accepting a new technology or system. Out of the banks in Sri Lanka identified by the Central Bank, there are two main categories of banks, such as Licensed Commercial Banka and Licensed Specialized Banka. Out of the two categories, four Licensed Commercial Banks and one Licensed Special Bank are selected as the primary study of this research. These selected banks represented three categories Known as public, private and global banks operating in Sri Lanka. The primary study revealed that public banks have to face enormous obstacles and challenges while implementing ICT systems than private banks. Private banks do a thorough need analysis regarding to the ICT systems implementation, where the public banks do not practice those kinds essential analysis. Therefore, two Public banks were selected for the exploratory study. Data were collected by conducting structured interviews with 64 bank employees. Those selected 64 employees are twofold: (a) 40 of IT system implementation employees and (b) 24 of IT system user employees. Further the interviewees were given the opportunity to express their comments and concerns in adapting ICT systems. The questionnaires for the interviewees were developed by TAM and TTF models. After analyzing the data and information collected and evaluating the results, it revealed that there are some CSFs, which would be essential for the successful IT system implementation process. In this research seven CSFs and Two perception gaps were identified and suggestions were proposed to narrow down the perception gaps. According to the observations and results of this study, some suggestions have been given for further study. The research findings (seven CSFs and two perception gaps) were validated through the expert intuition.