Mobile banking strategy and performance of KCB limited Kericho County, Kenya
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Date
2018
Authors
Morang’a, Monyangi Brendah
Journal Title
Journal ISSN
Volume Title
Publisher
Kenyatta University
Abstract
Banking institutions encounter a lot of problems ranging from debt crises to
exponentially increasing rivalry in the market which affects their performance
significantly. Currently, customers of financial institutions are well informed and have
all the information regarding the operations of such institutions and as a result they
have created brand and product loyalty. This has been escalated by the introduction of
mobile banking services in financial transactions and hence financial institutions are
now experiencing difficulties in embracing new technological advances. With
introduction of mobile services in the banking industry, the commercial banks are
faced with the challenge of embracing the new technological advances in the banking
industry or lose business. To address the challenges of performance, financial
institutions are supposed to adopt strategies to curb the problem of financial
performance. This study aimed at investigating the effect of mobile banking strategies
on firm performance of KCB Kenya Limited. The study is significant to KCB Bank
and academic knowledge. The study was guided by four theories; theory of
performance, diffusion of innovation theory, financial intermediation theory, and
delegation monitoring. Descriptive research design was used. The target population
was 100 which included employees, departmental heads and managers of KCB Bank
Kericho County. The sample size of 30% of the target population which was 30
respondents was selected using simple random sampling. Questionnaire were used to
collect data. The collected data was analyzed using descriptive and inferential
statistics. SPSS version 21.0 was used to aid in data analysis. The results indicated
that there is significant improvement in the firm’s performance due to cell phone
strategies. The cell phone savings did not significantly improve performance of the
firms but the cell phone credit, pay bill service and money transaction indicate
significant input to the bank performance. The research recommended that there
should be customer sensitization because the mobile banking strategies reduce cost of
operation. Further research should be done mobile transaction on customer
satisfaction and preference.
Description
A research project submitted to the school of business in partial fulfillment of the requirement for award of degree of master of business administration (strategic management option) of Kenyatta University May, 2018