Management perception of agency banking as a Competitive tool at Kenya Commercial Bank
This study sought to determine the management perception of agency banking as a competitive tool at Kenya Commercial Bank. This was a survey with one main objective which was to determine the management perception of agency banking as a competitive tool at Kenya Commercial Bank. The study adopted a descriptive survey design as the main design for the study. Stratified sampling was used to arrive at the study population of 55 senior managers at Kenya Commercial Bank as respondents. The study used questionnaires as the main method of data collection. Self-administered structured drop and pick questionnaires were distributed to the respondents who were senior managers in KCB working at the regional offices, agency banking unit, finance and strategy. Descriptive analysis was employed; this included the use of means, standard deviation, percentages, and calculation of perception index. The study found out that Kenya Commercial Bank is a market leader in agency banking and that adoption of agency banking led to increase in geographical coverage area, penetration of the unbanked population and improved customer service. The study recommends the adoption of agency banking as a competitive tool by all commercial banks and that banks should invest in systems and equipment that supports agent transactions and seamless interaction between agent banking systems and the banks main system, the study also recommends that banks should vet their agents properly to ensure that service standards are maintained across all the agent outlets. The study suggested that future researchers should undertake a study on the management perception of agency banking as a competitive tool in other banks and also on effectiveness of agency banking as a competitive tool in the banking industry.