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Mobile banking is growing at a remarkable speed around the world. In the process it is creating considerable uncertainty about the appropriate regulatory response to this newly emerging service. Tanzania is the one among the sub-Saharan country in Africa in which Mobile banking services are operated. This study seeks to explore the adoption of mobile banking system to financial institutions. A case study design was used. NBC bank being the key area of the study. Specifically, the study aimed at determining the strategies used by NBC bank in adoption of Mobile banking services. To find out the significance of Mobile banking as well as to identify the challenges faced on the performance of M-banking at NBC bank. The strategies includes; training strategies, research strategy, promotion strategy and expert strategy. Sampling techniques used were purposive and snowball sampling. Data collection methods were included; self administered questionnaires as well as interviews were used.
Result of this study revealed that; improving access of Mobile banking network services by providing good infrastructures facilities will improve the service and attracting more customers. Most of the people in Tanzania live in rural areas that are denied with financial services and more than half of the country’s GDP comes from agriculture. The use of M-Banking system could now be use as alternative way to promote the poor in accessing financial services. The significant of this study includes; reduce risk of carrying money to the bank, Mobile bank is convenience services, save time, convenience service, give the customer full control of money and reduce paperwork. Some challenges were noted including; system failure, cost of managing Mobile banking system and customer experience. Finally, the study recommends that; NBC bank should also understand their customers and make sure that their services are convenient, affordable and should also consider the easiness in usage of the technologies introduced. NBC bank together with Mobile money provider should provide good infrastructures on network services so that the service can be available 24/7 days, this will help NBC bank to improve its performance and attract more customers. |
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