FACTORS AFFECTING UTILIZATION OF MOBILE BANKING IN SELECTED BANKS IN THIKA TOWN, KENYA
Journal Title: European Journal of Business and Social Sciences - Year 2015, Vol 4, Issue 8
Abstract
Mobile banking applications have become increasingly popular in theory in emerging markets, particularly as a result of the success of initiatives such as SMART Money in the Philippines. In Kenya, there are an estimated twenty million customers with cellular phones. This is about two times larger than the banked population, and offers a significant opportunity for banks to use mobile phone networks to deploy banking solutions. The objective of the study is to determine the effect of network coverage, cost, security and handset use on utilization of mobile banking in Thika Town. The research design for this study is the explorative survey design. The study was conducted in Thika with a target population of 228 workers in selected banks. Data was collected using semi-structured questionnaires. The sampling design for the study was stratified random sampling. Data was analyzed using Statistical Package for Social Sciences (SPSS). The study revealed that mobile banking has been embraced by many people and most of them were satisfied with the different services that this service provides. Some concerns about security were cited by the respondents. Awareness creation should be enhanced so that more and more people can embrace the mobile banking. Banks should ensure that the different services that are provided within the mobile banking are secure to improve their level of satisfaction. The different risks that have identified should be checked and proper measures taken to eliminate them.
Authors and Affiliations
Rebecca Ndinda Wakungi| School of Business, Kenyatta University Correspondence Email: wakungi123@gmail.com
Keywords
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