Effect of electronic banking and financial performance of the banking industry
No Thumbnail Available
Date
2024-10-11
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Ucu
Abstract
This study examined the effect of electronic banking on the financial performance of the banking industry, with a specific focus on Stanbic Bank (U), Main Branch Kampala. The primary objectives were to evaluate the impact of mobile banking on the financial performance of Stanbic Bank, the effect of internet banking on the financial performance of the banking industry, and the influence of electronic funds transfers on the financial performance of Stanbic Bank.
A sample size of 30 respondents was selected through a combination of purposive and random sampling techniques. Financial institution tiers were clustered based on similar characteristics, from which heads of departments, employees, and clients were chosen to participate in the study.
The findings indicated that electronic banking had a substantial impact on the financial performance of Stanbic Bank and the broader banking industry. Mobile banking significantly contributed to increased operational efficiency and customer satisfaction. Internet banking expanded service accessibility and improved transaction speed, leading to enhanced overall performance. Electronic funds transfers facilitated more efficient financial transactions, contributing to cost savings and increased revenue.
The discussion of findings elaborated on the relationship between electronic banking and banking industry performance, addressing the study objectives. The results highlighted the importance of adopting and optimizing electronic banking services to improve financial outcomes in the banking sector.