The Kenyan Fintech industry has made great gains toward providing high-quality banking services i... more The Kenyan Fintech industry has made great gains toward providing high-quality banking services in a safe environment, enabled by modern information and communication technology. This study sought to understand how, mobile and internet banking affect the financial performance of deposit taking Savings and Credit Cooperatives (SACCOs) in Meru County, Kenya. This study was informed by three key theories; Theory of diffusion of innovation, asymmetric information theory, and resourcebased view theory. The study secondary data sources to look into the specific impacts of Fin Tech on the financial health of deposit-taking Sacco's. The study data was analyzed from 19 Deposit taking saccos that are licensed by Sasra within Meru county. Both mobile banking and internet banking show an increasing trend in usage over the years, as indicated by the coefficients for the year variable in the linear equations. The R² values for both mobile banking and internet banking indicate that the linear equations can explain a moderate to strong proportion of the variance in usage. The R² values suggest that the linear equations provide a reasonable level of predictability in both mobile banking and internet banking usage based on the year. The study therefore concludes that the use of mobile banking technology has the potential to enhance the operational efficiency, expand the customer outreach, and elevate the level of member contentment for Saccos. It is imperative for financial institutions to maintain a constant vigilance in detecting and identifying fraudulent activities, adopt sophisticated fraud prevention mechanisms, and impart knowledge to their clientele regarding prevalent fraudulent schemes and scams.
The Kenyan Fintech industry has made great gains toward providing high-quality banking services i... more The Kenyan Fintech industry has made great gains toward providing high-quality banking services in a safe environment, enabled by modern information and communication technology. This study sought to understand how, mobile and internet banking affect the financial performance of deposit taking Savings and Credit Cooperatives (SACCOs) in Meru County, Kenya. This study was informed by three key theories; Theory of diffusion of innovation, asymmetric information theory, and resourcebased view theory. The study secondary data sources to look into the specific impacts of Fin Tech on the financial health of deposit-taking Sacco's. The study data was analyzed from 19 Deposit taking saccos that are licensed by Sasra within Meru county. Both mobile banking and internet banking show an increasing trend in usage over the years, as indicated by the coefficients for the year variable in the linear equations. The R² values for both mobile banking and internet banking indicate that the linear equations can explain a moderate to strong proportion of the variance in usage. The R² values suggest that the linear equations provide a reasonable level of predictability in both mobile banking and internet banking usage based on the year. The study therefore concludes that the use of mobile banking technology has the potential to enhance the operational efficiency, expand the customer outreach, and elevate the level of member contentment for Saccos. It is imperative for financial institutions to maintain a constant vigilance in detecting and identifying fraudulent activities, adopt sophisticated fraud prevention mechanisms, and impart knowledge to their clientele regarding prevalent fraudulent schemes and scams.
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