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International Journal for Research Trends and Innovation
International Peer Reviewed & Refereed Journals, Open Access Journal
ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Impact Factor : 8.14
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| Paper Title: | Evaluation of financial innovation and performance of savings and credit cooperative societies in kenya, A case of nakuru county |
| Authors Name: | ABDIFATAH OMAR MAALIM , DR. RUTHWINNIE MUNENE |
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IJRTI_186450
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| Published Paper Id: | IJRTI2305035 |
| Published In: | Volume 8 Issue 5, May-2023 |
| DOI: | |
| Abstract: | The globalization of financial system has played a major role on financial innovation which involves advancement in financial technology. Innovation in financial system plays an essential and great role in competitive edge structuring of the organization, procedure as well as organization services. The increase of financial institutions has been due to the growth in the financial sector economy. There is also growth in financial systems with new cash payment methods and money and capital asset methods to holding funds. Innovation in financial technology enables and promotes faster flow of financial information and financial market incorporation. The primary research goals was to evaluate financial innovation and performance of SACCOs in county government of Nakuru County, Kenya. Specific objectives were to determine mobile banking and performance of SACCOs and to evaluate ATMS on performance of SACCOs and performance of SACCOs Nakuru County, and how they correlate. This study was conducted out between the month of November and December 2022 in all SACCOS in Nakuru County focusing on financial innovation on financial performance. The investigation was framed by the following theories agency theory, information system success theory, and task technology fit theory Descriptive survey research methodology was used for the investigation. The study target population were 47 managers in SACCOS within the county government of Nakuru County. Census method was used targeting all the 47 SACCOs. The research instruments for data collection were questionnaires for primary data and financial report sheets for secondary data. The instrument was piloted in three SACCOs from Nyandarua County. In order to ensure content validity, the questionnaire was given to three financial experts to assess the relevance of the items to research questions, clarity of the language, clarity and coverage of questions. A content validity index of individual items ranging 0.50 to 1.00 was used to ascertain whether the instruments was valid or not. To test reliability questionnaire was assessed using a Pearson Product moment correlation and yielded a coefficient of over 0.7 which was deemed reliable. SPSS was applied to analyze the data using linear regression. The results demonstrated that financial innovation had a big consequence on financial performance. Based on the levy and fees used as well as its ease, mobile banking was the most important, automated teller machines had very few meaningful predictors, but it was indirectly related to financial expansion in terms of liquidity. They gave bigger client base as well as open fresh unexplored market. The study comes to the conclusion that mobile banking is the most crucial factor that management of SACCOs must take into account when making decisions about financial innovation. According to the research, automated teller machines could be further utilized as a possible source of increased financial performance. This can be accomplished by introducing mobile-operated applications. |
| Keywords: | Financial innovation, Mobile money banking, financial performance, Saving and credit cooperative societies. |
| Cite Article: | "Evaluation of financial innovation and performance of savings and credit cooperative societies in kenya, A case of nakuru county", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.8, Issue 5, page no.229 - 244, May-2023, Available :http://www.ijrti.org/papers/IJRTI2305035.pdf |
| Downloads: | 000205277 |
| ISSN: |
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2305035
Registration ID:186450
Published In: Volume 8 Issue 5, May-2023
DOI (Digital Object Identifier):
Page No: 229 - 244 Country: -, -, Kenya Research Area: Management Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2305035 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2305035 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
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