Mobile banking as a savings strategy : impact on the saving behavior of the urban poor : case study of Kawangw'are and Githurai suburbs
Date
2012
Authors
Emongaise, Patrick Omunyu
Journal Title
Journal ISSN
Volume Title
Publisher
Strathmore University
Abstract
Savings have been said to be one of the main tools of reducing vulnerability which is the
inability to withstand the effects of a hostile economic environment among the poor. To reduce
the vulnerability, accumulation of savings is thus vital. This study is undertaken to find out the
impact of mobile banking on the savings' behavior among the poor. It investigates the savings
behavior among the poor and then finds out the impact of mobile banking on their savings
strategies. This paper is tailored to find out if mobile banking increases the rate at which the poor
save their money. With most of financial institutions in the past shunning the poor because of
their vulnerability, mobile banking is being investigated so as to find out if it increases the
savings rate since many banks in Kenya are partnering with mobile phone companies to offer
mobile banking and that is mainly tailored towards the poor. This paper is finding if these trends
are leading to increased savings. According to the findings, mobile banking has had impacts on
the savings behavior among the poor. The average savings frequency has reduced from 69 days to 19
Description
Abstracts only
Keywords
Mobile Banking