MCOM Theses and Dissertations (2008)

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    Effects of digital banking channels on customer experience within microfinance institutions in Kenya
    (Strathmore University, 2024) Mulili, F. M.
    Customer experience remains a key success factor for financial institutions. With the current digital evolution, which has seen an increase in the number of customers, financial institutions have been pushed to re-design their products to adapt to the expectations of the growing digital customers. In a bid to avoid losing out to FinTech companies, banks have moved from their domain to design financial products fitting digital customer opportunities. Some customers prefer to undertake banking and pay bills from the comfort of their homes and transact on 24-hour basis. As a result, the trustworthiness of the banking applications, their ease of use, accessibility, assurance of customer privacy, availability of quality network and web interface is vital for speedy, convenient and reliable offering of satisfactory banking services leading to customer loyalty and positive referrals to their friends. However, Digital banking has also come with several risks including loss of funds and increasing cases of money laundering. Some customers also prefer hard cash because of illiteracy, lack of proper governing regulations and inadequate technological infrastructure. Even with the introduction of mobile, internet banking and electronic banking cards, some of the micro finance institutions customers are reluctant in utilizing the channels. The objective of this study was to determine the effects of digital banking on customers’ experience among microfinance bank institutions in Kenya. The conceptual framework in this study was based on the Technology Acceptance Model (TAM) and expectancy disconfirmation theory. For this purpose, the study used descriptive research design and a sample of 400 digital banking customers were selected. Further, primary data was relied upon and was collected using structured questionnaires. A quantitative approach was used to analyze data through SPPS software and the results interpreted and presented using tables and figures. Pearson correlation techniques were used to establish the nature of relationship between the independent and the dependent variables while regression technique was used to determine the effect of digital banking channels on customer experience among microfinance institutions in Kenya. The study concluded that mobile banking, internet banking and electronic card banking in the microfinance institutions are significant determinants of the customer experience among digital banking customers of microfinance institutions in Kenya. The study recommended that the microfinance institutions in Kenya ought to tap on the benefits of the digital banking channels to enhance the experience of their customers. However, the adoption of digital channels comes with its package of challenges including cyber-attacks. The security of the technology systems ought to be enhanced to avoid loss of customer funds and information. The study was limited to digital banking customers in microfinance sector only leaving out customer experiences from other financial sectors including Savings and Credit Cooperatives (SACCO), insurance companies, commercial banks and credit unions. Keywords: Mobile banking, internet banking, electronic card banking, customer experience and microfinance.
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    Factors determining member retention among Deposit-Taking SACCOs and Non-Deposit-Taking SACCOs in Kenya
    (Strathmore University, 2024) Bugasu, L. Z.
    This study presents a comprehensive examination of member retention in Kenya's Savings and Credit Cooperatives (SACCOs), focusing on two distinct types: Deposit-Taking SACCOs (DTS) and Non-Deposit-Taking SACCOs (NDTS). The sustainability and profitability of SACCOs depend heavily on member retention since it guarantees a steady membership base, which is essential to their long-term viability. High member turnover can undermine SACCOs and harm their financial stability because these organizations rely on member contributions for operating support and the supply of financial services. This study is among the first to compare and empirically document the member retention challenges faced by these two types of SACCOs since DTS was regulated in 2010. NDTS was only recently included in the regulatory framework by the Sacco Society Regulatory Authority (SASRA) in 2021. The research objectives were to assess retention levels, establish SACCO organizational factors for member retention strategies in DTS and NDTS, and evaluate management viewpoints on member retention in both DTS and NDTS. The study's theoretical approach was based on common bond, institutional, stakeholder, and agency theories. Using a mixed-methods methodology and positivist and post-positivist ideologies; the study combined quantitative and qualitative data. Cross-sectional data covering 2022 was analyzed using Ordinary Least Squares on data from 176 DTS and 185 NDTS in Kenya. SACCO officials’ questionnaires were used to enhance the data that came from SACCO annual reports. The results showed that while NDTS and DTS exhibited comparable member retention rates, DTS had somewhat higher average rates. The study determined that several factors affected member retention. Profitability was found to have a statistically significant, positive effect, whereas interest rates while hurting retention, were not. Retention rates were surprisingly negatively impacted by asset growth, although asset quality, while negatively correlated, was considered insignificant. The study also demonstrated the importance of corporate governance elements, indicating that while board diversity had no significant effect on member retention, board size had a positive effect. It was found that the most critical component for member retention was the composition of the board. Regulatory impact adversely impacted retention, and capital structure was not significant and hurt member retention. This study advances knowledge of SACCO dynamics in Kenya's financial industry and offers valuable information on member retention tactics and regulatory implications for SACCO management and legislators.
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    Factors influencing the adoption of cybersecurity in large manufacturing companies in Nairobi County
    (Strathmore University, 2024) Ngunju, S.
    Cyberthreats are now universal and affect most organizations around the world. This therefore makes it critical for organizations to adopt cybersecurity measures. This study evaluated how technological factors, organizational resource factors and management factors influence the adoption of cybersecurity in large manufacturing companies in Nairobi County. The research was guided by the Human, Organization and Technology theory and General Deterrence theory. The study focused on 114 large manufacturing firms who are members of Kenya Association of Manufacturers (KAM, 2021). The respondents for the survey were either the Chief Technology Officers/Chief Information Security Officers/Information Technology Managers and ICT Officer/Systems Analyst/System Administrators. The total sample size of the respondents was therefore 228. 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. The study obtained 80.7% response rate and the collected research data was coded into SPSS. Data was analyzed using descriptive measures, correlation, and regression analysis. The research showed a positive relationship between the organizational resource factors, management factors, and technological factors with adoption of cybersecurity in manufacturing companies in Nairobi County. The results of the regression analysis showed that 41.7% variation in the adoption of cybersecurity could be determined by their organizational resources, management capabilities and technological capability. Hence, the overall regression established that the selected factors contribute significantly to the adoption of cybersecurity. The study recommends that to adopt cybersecurity, the firms need to be ready to allocate significant resources, both financial, and technological to ensure that they meet the high costs associated with pursuing adoption of cybersecurity. The study also recommends that managers align security decisions with organizational goals and capabilities to reduce organizational misalignment which can affect adoption of cybersecurity. Keywords: cybersecurity, organizational resource factors, management factors, technological factors, manufacturing industry
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    Students admission policies and the quality of university education: a case of Kenyan private universities in Nairobi County
    (Strathmore University, 2024) Otieno, H. A.
    Worldwide, there has been an urgent need and a high demand for Higher Education due to the extensive social and private benefits attached to Higher Education (World Bank,2017). While universities are required to maintain the desired quality of education, this is sometimes not realized even as admissions continue to be critical towards attaining quality education at the universities. This study therefore seeks to evaluate the effect of admission policies on quality of University Education in Selected Kenyan Universities. The specific objectives are: to determine the effects of entry criteria, non-discrimination policy, applicant’s verification and university capacity on the quality of University Education in Kenya and also to establish the effect of applicants’ verification on the quality of University Education in Kenya, Kenya. The study is based on The Juran Theory as well as the RATER Model. The study adapted a cross-sectional research design to allow data collection at a specific point in time. The population of the study consisted of 324 members of University Admission Departments and members of faculty department from private universities although the study was specific to Private University of Nairobi. Stratified random sampling was also used to select respondents from the target Universities. Data was collected through structured-questionnaires. Both descriptive and inferential statistical analysis were used. Descriptive statistical analysis included mean and standard deviation, while inferential statistics was performed using Pearson's correlation and multiple regression analysis. The findings indicate that there is a positive significant relationship between all admission policy factor (entry criteria, University capacity, non-discrimination and applicants’ verification) and Quality of University Education in Kenya. The study recommends that the Commission of Education and Ministry of Education provide policy directive to ensure that quality of university education is improved and that the universities produce graduates that are competitive in the labor market, the universities should consider enhancing the effectiveness of their entry criteria, observe their University Capacity and non discrimination and ensure that applicants’ verification is improved through the application of the necessary technology in order to achieve the desired quality of university education. Additionally, the private universities need to identify the various challenges in admission to ensure that all drawbacks are addressed and the universities enhance their conformity to the provided guideline in admission to ensure the quality standards of university education is maintained.