Technology Enabled Banking Self Services And Performance Of Commercial Banks Listed In The Nairobi Securities Exchange
Information technology advancement is changing the marketing landscape of goods and services, such that service sectors like banks have increased the use of self-service technologies (SSTs) as one of the most important drivers of a firm‟s level of competitive advantage. By a firm adopting technology based strategy, they will be able to achieve increased customer satisfaction, cost reduction, and faster service delivery with increased reliability. The objective of the study was to determine the influence of self-service technology strategy on performance of commercial banks listed in Nairobi Securities Exchange. The study adopted a descriptive cross sectional research design and population of the study comprised of all the eleven commercial banks listed in the Nairobi Securities Exchange. The study used primary data and secondary data. The data was analyzed using descriptive statistics and regression analysis was used to assess relationship between self-service technology strategy and performance of listed commercial banks. The study found that SSTs such as internet banking, ATMs, Smart cards, credit cards and mobile banking were important for the commercial banks as they have resulted in improved service delivery, reduced operating costs, convenience to customers and are mostly secure. SSTs adoption by banks was found to have resulted in efficiency in serving customers thus increasing market share through customer numbers and impacting revenue positively through uptake of bank products. Regression analysis used established that there is a relationship between self-service technologies and performance of commercial banks listed at the Nairobi Securities Exchange. The study therefore recommends that commercial banks consider intensifying self-service technologies for better accessibility thus improving financial performance. Uptake should be affordable and deemed secure to encourage a culture of adoption and acceptance by customers thus ensuring the future sustainability of self-service technologies as a workable strategy for competitive edge.
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