| dc.description.abstract | Technological innovations play a significant role in improving efficiency of service delivery
and reduction of transaction costs in the banking sector. With the introduction of
technological innovations in the banking sector it was expected that accessibility of banking
services would be enhanced. However this has not been the case. Therefore this study sought
to investigate the effects of technological innovation on the accessibility of banking services
in Equity Bank, Nakuru. The objectives of the study were to find out the effects of agency
banking, mobile banking and internet adoption on the accessibility to banking services in
Equity Bank, Nakuru. The study also sought to determine the level of customer satisfaction
with the adoption of Information Technology on the accessibility of banking services in
Equity Bank, Nakuru. The study was based on a case study design. The target population of
the study was 295 registered small scale business account holders in Equity Bank, Nakuru
Town. Purposive and simple random sampling techniques were used to identifying a sample
size of 127 small scale business operators who held accounts in Equity Bank. The data was
collected using questionnaires and a scheduled interview and the data obtained analyzed
using the descriptive techniques and represented using Tables, charts and percentages. The
study has concluded that technological innovation has led to increased accessibility of bank
services through mobile banking, internet banking and agency banking. As a result of
increased accessibility to banking services through technological innovations the bank has
witnessed increased financial activities which include cash deposit, cash withdrawals, transfer
of funds, balance enquiry and payment of loans. The study has also concluded that the
customers’ level of satisfaction with the adoption of technological innovation was high and
the customer’s experience with technological innovation was favourable. The study
recommends that Equity bank should open more agency and mobile banking services in the
rural areas to reach out to more customers. It also recommends that basic education on the
use of the technology should be given to both the agents and the bank customers. It further
recommends enhanced capacity of IT at Equity bank to handle large financial transactions in
lieu of regular systems failure | en |
