Strategy Implementation Challenges of Mobile Banking in Commercial Banks in Kenya
Abstract
The introduction of mobile money transfer services in Kenya had a great impact on the
way in which Commercial Banks in Kenya conduct their day to day business. This state
of affairs compelled the researcher to conduct this study on the strategy implementation
challenges of mobile banking in commercial banks in Kenya. The data was collected
from senior IT staffs of Commercial Banks in Kenya. The researcher used an interview
guide to collect data from the respondents. The interview guide had different questions
covering the demographic details of Commercial Banks IT, the general information on
mobile money transfer services in the banking industry in Kenya and specific information
covering the implementation challenges of mobile banking in commercial banks in
Kenya. The findings of the study indicate that responses included improvement in IT
management, thorough research on the customer needs and development of products to
match such needs to achieve customer expectation and also attract new customers. The
most talked about challenge was the customers’ literacy levels. The banks have also
adopted a marketing system to reach its’ clients alongside the use of modern information
and technology system. Based on the findings it may be recommended that commercial
banks streamline transfer service charges and packaging of the mobile banking product to
match the one charged by mobile service providers especially M-pesa so as to remain
relevant in the sector.
Citation
Master Of Business Administration, University Of Nairobi 2013.Publisher
University of Nairobi College of Humanities and Social Sciences