An Assessment of the factors affecting cyber resilience in microfinance institutions in Kenya

dc.contributor.authorKiganda, Moses
dc.date.accessioned2022-11-07T15:45:00Z
dc.date.available2022-11-07T15:45:00Z
dc.date.issued2022
dc.descriptionA Thesis submitted in partial fulfillment of the requirements for the award of the Degree of Masters of Business Administration at Strathmore University Business Schoolen_US
dc.description.abstractWith 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.en_US
dc.identifier.urihttp://hdl.handle.net/11071/12982
dc.language.isoenen_US
dc.publisherStrathmore Universityen_US
dc.subjectCyber resilienceen_US
dc.subjectManagement supporten_US
dc.subjectResource factorsen_US
dc.subjectRegulatory factorsen_US
dc.subjectMicrofinanceen_US
dc.titleAn Assessment of the factors affecting cyber resilience in microfinance institutions in Kenyaen_US
dc.typeThesisen_US
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