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• W23052289 abstract "Agency banking is a recent model that hopes to enhance access to financial services by allowing small scale business operators to be engaged in banking services as satellite branched. This waslargely as a result of pressure experienced by commercial banks to reduce operational costs whileat the same time provides increasing returns to the shareholders. The purpose of the study was toassess the major factors affecting the adoption of agency banking in Nyeri Central District ofNyeri County. In particular, the specific objectives examined how relative advantage of theagency banking, complexity of the agency processes,personal factors and levels of publicawareness influenced the adoption of the agency banking. Both primary and secondary data wascompiled and linked to the specified objectives of the study. Stratified random samplingtechniques were used to obtain a working sample of 40 agency units operating in the centralBusiness District of Nyeri Town. Focus was the Equity Bank, KCB and Cooperative Bankswhich licensed agency operators under their banks. The study found that relative advantage ofthe agency banking transactions was a significant factor which affected the adoption of theagency banking. This was supported by the benefits of availability of services in various pointsaround the Nyeri Town, convenience and accessibility by the customers. In addition, the agencyservices were within the reach (Affordable) to most people viewed it as relatively complex andhence it as relatively complex and hence sustained sensitization was necessary. In the areas ofpersonal factors, the age factor of the agency users, social class and educational levels werefound to have a significant influence on the rate adoption of the agency. In respect to the levelsof public awareness, the study found that this aspect to a great extent influenced the rate at whichthe agency banking was being adopted in the market. The study concludes by pointing out thatagencies relative advantage compared to the traditional banking system, personal factors andlevels of public awareness to a great extent influenced the adoption rate of the agency banking.The recommendations include that the marketing staff of the commercial banks focuses theirattention to population centres such as the schools, colleges, government institutions andattending other forums to popularize the service. Another recommendation is that thecommercial banks should increase the commission payable to the agents in return for their addedtasks of popularising and marketing the agency service and the banks should encourage largescale traders like wholesales like wholesalers and supermarkets to open a counter for agencybanking. This would attract the attention of those engaged in frequent money transfertransactions such as the traders. Also more awareness campaigns and forums be prepared andfunded to cater for those market segments not currently served by the agency services. Finally,bank should encourage big institutions such as colleges, hospitals, schools and market to openagency banking services." @default.
• W23052289 created "2016-06-24" @default.
• W23052289 creator A5033986552 @default.
• W23052289 date "2014-10-27" @default.
• W23052289 modified "2023-09-27" @default.
• W23052289 title "An Investigation of the Facfors Affecting the Adoption of Agency Banking in Kenya (A Case of Selected Agents in Nyeri Central District" @default.
• W23052289 hasPublicationYear "2014" @default.
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