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Despite mobile banking business being a fast growing ICT-based innovation in line
with the face to face traditional banking industry little is known on the performance
of mobile banking business among many countries including Tanzania. A study was
conducted among four mobile network operators (MNOs), namely, Vodacom MPesa,
Tigo Pesa, Airtel Money and Zantel ZAP, and five banks (NMB PLC, CRDB
PLC, Exim Bank, TPB and BOA), to assess the mobile banking business
performance in Dar es Salaam City. The study was carried out based on specific
objectives: 1) to identify mobile banking services being offered, 2) to assess mobile
banking business organizational benefits, 3) to analyze potential strengths,
weaknesses, opportunities and threats (SWOTs associated with mobile banking
businesses, and 4) to assess customer's satisfaction on service delivery. Both
structured and unstructured questionnaires coupled with interviews, documentary
review and observations were employed among mobile banking business customers,
MNOs and banks management, and MNOs agents in Dar es Salaam city. A total of
150 respondents were both randomly and purposively selected for the study. Data
obtained on m-banking service delivery, organizational benefits, SWOT and
customer satisfaction were analyzed into simple descriptive statistics using Statistical
Package for Social Sciences (SPSS) version 15.0.
Findings revealed that there are various mobile banking services that are offered in
the Dar es Salaam City innovated from the banks and MNOs. These including
ATMs, NMB mobile, Sim-banking, Exim mobile, M-pesa, Tigo pesa, Airtel money
and Ezy pesa. The latter cause these organizations benefit in terms of increasing
number of customers in the industry 88% (N=44), increasing financial profit trend70% (N=105) and good reputation 78.7% (N=118). The strengths of the mobile
banking business including customer zero liability 70.6%% (N=106) and easy
customer registration processes 86%% (N=129) while the weaknesses are such as
lack of clear legal base 22.7% (N=34) as well as unstable and high service charges
32.7% (N=49). Opportunities such as high demand of services 21.3% (N=32) and
high business collaboration with easier tariff partitioning in mobile banking services
28.6% (N=43) whereas the threats in mobile banking business include cybercrimes
16.7% (N=25) and criminal financing 28% (N=42). Customers’ satisfactions were
20% (N=30) of the respondents satisfied with the customer services from MNOs and
banks.
It could be concluded that mobile banking industry is performing well in serving
both banking and unbanked customers but the identified internal weaknesses and
external threats impede their efficiency and utilization. |
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