CURRENT CHALLENGES AND PROBLEMS FACING THE ORGANIZATION

Electronic retail banking delivery channels are becoming important not only for competitive purposes among banks but also for their survival, development, and growth. Thus, banks in Egypt have realized the challenge to cater to the growing needs of the market to channel their interest in improving the infrastructure, while focusing on customers' needs rather than solely serving their competitive strategies. It is important to note that the more the banks will be able to provide a convincing value-proposition to their customers, the more they will realize their targeted objectives and increase their market share, which represents a vital challenge relating to the banks' visibility in the market as a technology service provider. However, at the same time, banks must cater to local values and cultures of the society and smoothly adopt, diffuse, and adapt such technologies to serve their customers' needs without facing major resistance.

The challenges also include the diffusion of innovation among the community and the development of the infrastructure required. Also challenging, is diffusing it among Egypt's 27 provinces, while avoiding the creation of communities of haves and have nots and attempting to leverage the statistics of technology penetration, which currently stand at 15% of the population engaged in retail banking and benefiting from its services. There are a lot of questions that need to be answered that represent a set of challenges. If turned into opportunities, these challenges could help boost the banking sector. Can banks cater to changing customers' needs? Can they provide a convincing value-proposition? Can they provide customers with easy-to-use trustful technology tools and delivery channels? Can they make that shift and still focus on their organization-based competitive strategy vision? With continuous development in electronic banking, banks in Egypt have realized that there are no easy solutions. At the same time, they realized that a change of strategy has to take place in order for them to remain in the competition, not only globally but also locally, and that represents the main challenge for the main players in the industry.

The research study results showed that despite the challenges faced while adopting various technology-based retail banking systems in Egypt, there are still strong indications that, over time, technology will permit banks to provide useful services to customers while improving their marketing and communication, increasing their efficiency, and reducing cost of delivery. Moreover, the analysis showed that, consistent with TAM, perceived ease of use and perceived usefulness are playing relatively important roles in defining the acceptance level of different banking technologies. Additionally, the role of trust as an external variable affecting the acceptance level proved to be significant for all systems, including ATMs, credit cards, phone banking, and Internet banking. To summarize, it is believed that major efforts in infrastructure build-up, including technology and human resources development, need to take place not only by banks but also by all players in the new digital economy, including governments and the private sector.