Factors influencing adoption of mobile banking in Kenya: a qualitative analysis of commercial banks in Nairobi County, Kenya
Authors
Mulili, Stellamaris Mwithi
Issue Date
2022
Degree
MSc in Financial Technology
Publisher
Dublin Business School
Rights holder
Rights
Items in eSource are protected by copyright. Previously published items are made available in accordance with the copyright policy of the publisher/copyright holder.
Abstract
The study focused on determining factors influencing adoption of mobile banking in Kenya. The main objective was to examine the influence of perceived risks (financial risk), perceived usefulness (convenience and cost reduction) and regulatory factors (interoperability and privacy) on the adoption of mobile banking. A sample size was 57 was obtained through convenient sampling. A correlation analysis between perceived usefulness, perceived risks, regulatory factors and mobile banking adoption was conducted. A statistically significant correlation between perceived usefulness and adoption of technology was found (r=.63, p=0.00). The study found the correlation between perceived risks and adoption of technology to be strong and statistically significant (r=.82, p=0.00). A statistically significant correlation between regulatory factors and technology adoption (r=.89, p=0.00) was established. From the findings, banking institutions must improve their systems security, enhance security, and reduce cost of mobile banking services.