Challenges of implementing financial innovations by commercial banks in Kenya

Abstract

Over the last 20 years there have been many changes in Kenyan banking sector. These changes have had considerable impact in the way they offer their services in the market. This research project was a census to determine the challenges in implementing financial innovations by the commercial banks in Kenya. In order to achieve these objectives a questionnaire was mailed to all commercial bank financial managers in Kenya. Technology power supply inadequate skills and political factors were the major challenges. Despite these challenges the implementation banks were able to offer their prober to the market. Further research on the sector can be undertaken by means of a cross sectional survey on financial innovation by the commercial bank who controls significant market share.