MBA Theses and Dissertations (2022)

Permanent URI for this collection

http://hdl.handle.net/11071/12953

Browse

Browsing MBA Theses and Dissertations (2022) by Subject "Cyber resilience"

Now showing 1 - 1 of 1
  • Thumbnail Image
    Item
    An Assessment of the factors affecting cyber resilience in microfinance institutions in Kenya
    (Strathmore University, 2022) Kiganda, Moses
    With the increased integration of new digital technologies in the financial industry, new risks and threats have emerged. One of the main threats to the operational efficiency and performance of financial institutions is the rise in cybercrimes which results in millions in losses annually. To curb this, institutions such as microfinance institutions (MFIs) have invested in cyber resilience practices. The current study sought to assess the various factors affecting cyber resilience in microfinance institutions in Kenya. The study specifically evaluated how management support, resource factors, and regulatory factors influence the cyber resilience in MFIs in Kenya. The research was guided by the resource-based view theory and the game theory. The examination was anchored on a positivist research philosophy with descriptive research guiding the study. The population for the examination was all the operational microfinance institutions in Kenya. The respondents for the survey were either the Chief Technology Officers, Chief Information Security Officers, or Technology Managers. A structured research questionnaire was adopted in the survey. The data collection for the study was done using Google forms and physical data collection where plausible. Data was analyzed using descriptive measures, correlation, and regression analysis. The findings of the study were presented using charts and tables. The research showed a positive relationship between the resource factors, regulatory factors, and management support with cyber resilience in MFIs in Kenya. The overall regression established that the selected factors contribute significantly to the cyber resilience state of MFIs in Kenya. The study recommends that to be more cyber resilient, the firms must be ready to allocate significant resources, both financial and technical to ensure that they meet the high costs associated with pursuing cyber resilience status. The study also recommends that managers align security decisions with organizational goals and capabilities to reduce organizational misalignment which can affect effective cyber resilience implementation. Lastly, policymakers in the MFI industry should assess the industry’s readiness and develop a set of standards and regulations that all firms are capable of meeting as this would promote cyber resilience.