Electronic business practices as an operational strategy by commercial banks in Nairobi

Abstract

Electronic business practices in commercial banks have become an operational strategy to meet business goals and objectives. This is because the operation is able to handle both complex and simple tasks with huge benefits of accuracy. Hence, banks have adopted this mode of operation in both internal and external business activities. The purpose of this research was to examine how the electronic business practices have become a tool to maximise profit and minimise loss in commercial banks. Towards this end, the study collected primary data from members of management of commercial banks involved in strategic planning of process models. Primary data was collected by questionnaire method among thirty banks. The result of this study showed that fraud affected the returns because the amounts lost in shillings were high. The trends in branding versus primary responsibility of banks were catching up to creating an impact that rakes in customers’ attention for a lasting beneficial period. However, the absolute need to grow viral in positive branding was not achieved. All banks studied were found to involve in training of their work force so as to better the skills to cope with changing working trends and gain more competitiveness. However, few banks had embraced electronic running and assessment and most still engaged in paper work. The implementation of change to new trend such as cloud computing was successful as a result of competition towards gaining market share.