INFLUENCE OF MOBILE BANKING SERVICES ON FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN NAKURU SUB-COUNTY KENYA

Kennedy Mugosi Sagide, Dr. Anthony Alexis

Abstract


Kenyan commercial banks have continued to make significant investments in innovation in order to cope with the challenges posed by new technologies and a rapidly changing competitive environment, including globalization, economic changes, regulatory reform, and privatization of the banking industry in the country. In this context, the researcher intended to determine the impact of mobile banking services on the financial performance of commercial banks in the Nakuru sub-county. It was decided to use a descriptive survey as the research strategy for this investigation. A total of 638 workers from all 26 commercial banks in Nakuru Sub-county were targeted by the campaign. The sample size was calculated using the Krejcie and Morgan table and consisted of 242 respondents from commercial banks in the Nakuru sub-county. Techniques such as random sampling were used to ascertain the number of responders. The data was gathered via the use of questionnaires and interview schedules. The information gathered was statistically evaluated with the use of descriptive and inferential methods. As a result, frequencies, percentages, and the chi-square test were utilized in the data analysis. The findings were provided in the form of tables, figures, graphs, and charts, among other formats. The study discovered that the usage of mobile banking banking has a positive and significant impact on the financial performance of commercial banks in Nakuru sub-county, Kenya. Use of  mobile phones has increased customer access to bank services, prompted more retail clients. The incorporation of mobile banking services will aid in the achievement of government goals and objectives that are centered on the provision of financial services to the public. it is necessary to do a cost-benefit analysis of the integration of financial services and mobile phones.

Keywords: Mobile Banking Services, Financial Performance, Commercial Banks


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