| dc.description.abstract | When globalization is used in an economic context it refers to the reduction and removal of
barriers between national borders in order to facilitate the flow of goods, capital, services and
labour. Globalization has had an effect on how banking business activities are conducted
worldwide and commercial banks in Kenya were not spared. Globalization of the banking sector
is essential in that it brings new technology which help improve banking services and
infrastructure hence reduce fraudulent activities, new risk management techniques and increased
confidence in the banking sector. Due to changing market trends and competition in the business
environment, many organizations are adopted globalization strategy in order to gain competitive
edge against their competitors. Major changes are currently taking place globally within the
banking industry due to emerging technologies in the banking sector. ICT adoption in business
practice by many organizations around the world has made globalization strategy a reality. With
the help of ICT adoption, many organizations are now providing their products and services in
multiple countries of the world to gain competitive edge in the in the global market.
Globalization and ICT adoption have been proved to be concepts that have revolutionalized
traditional business practices of many organizations around the world thus making them to be
more innovative, efficient and effective in their operations thus competitive edge The research
objectives were: to establish the effect of globalization on Kenya commercial bank and to
establish measures KCB put in place to deal with globalization. Secondary data was gathered
from library material, bank journals and reports, media publications and various Internet search
engines covering the implications of globalization to Kenya Commercial Bank. Primary data was
collected from respondents (Kenya Commercial Bank employees) by the use of interview guide
as the main instruments of data collection. Content analysis method was used to analyze data and
examine the intensity with which certain words were used and systematically describes the form
or content of written or spoken material. Content analysis helped to capture the in-depth opinions
of the respondents’ thus accurate decision making of the problem under investigation
qualitatively. Kenya Commercial Bank was used as a case study. Interview guides were used to
collect the data in addition to documentary review. It was found that globalization ensures
efficient service delivery as human bank tellers; long queues and underutilization of internet
were still in existence in the banking system. Globalization of the banking sector is essential in
that it brings new technology which help improve banking services and infrastructure hence
reduce fraudulent activities, new risk management techniques cost reduction in operation, new
product development, reduced lead time in service delivery to customers and increased
confidence in the banking sector. | en |
