TECHNOLOGY AND ITS EFFECT ON HUMAN CAPITAL WITHIN THE FINANCIAL- SERVICE INDUSTRY IN GHANA: THE CASE OF EJURAMAN AND ASOKORE RURAL BANK LIMITED

ABSTRACT Technology transfer has brought about a revolution in the functioning of banks as it offers major opportunities to banks and their customers. This has made the transition to electronic banking a necessity for banks in order to be viable. Despite its benefits, developing countries still lag behind in the adoption of technology transfer. This study therefore seeks to examine technology transfer and its effect on human capital within the financial service industry in Ghana, focusing on Ejuraman rural bank and Asokore rural bank ltd. The study made use of questionnaires to collect data from staff of the selected banks. The study employed a descriptive research method, 75 respondents were consulted and primary data was used. The findings indicate that the banks have deployed various technology transfer, the staff does not have adequate training to assist customers who have problems with their products and services, The study recommends that the banks should train its staff on the use and the benefits associated with technology transfer adoption so that they can assist customers when the need arise, the banks should always update their information security systems to mitigate the occurrence of cyber-attacks. The banks should invest in cyber security infrastructure to safeguard their information system and the regulators should have robust legislation to govern all electronic transactions in the country. The bank management must organize seminars, to solicit the views of the employees when designing and deploying new technology to avoid some of the challenges identified.