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Impact of Financial Innovations on Financial Perfomance of Commercial Banks in South Sudan

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Impact of Financial Innovations on Financial Perfomance of Commercial Banks in South Sudan IMPACT OF FINANCIAL INNOVATIONS ON FINANCIAL PERFOMANCE OF COMMERCIAL BANKS IN SOUTH SUDAN BY LONGAR MATHIEC WOL UNITED STATES INTERNATIONAL UNIVERSITY- AFRICA SPRING 2019 IMPACT OF FINANCIAL INNOVATIONS ON FINANCIAL PERFOMANCE OF COMMERCIAL BANKS IN SOUTH SUDAN BY LONGAR MATHIEC WOL MATHIEC A Research Project Report Submitted to the Chandaria School of Business in Partial Fulfilment of the Requirement for the Degree of Masters in Business Administration (MBA) UNITED STATES INTERNATIONAL UNIVERSITY- AFRICA SPRING 2019 STUDENT DECLARATION I, the undersigned, declare that this is my original work and has not been submitted to any other college, institution or university other than the United States International University-Africa for academic credit. Signature: ___________________________ Date: ________/_______/2019 Longar Mathiec Wol (ID.NO: 639982) This project has been submitted for examination with my approval as University supervisor. Signature: ____________________________ Date: ___________/________/2019 Timothy C. Okech, Phd Signature: ____________________________ Date: ___________/________/2019 Dean, Chandaria School of Business ii ACKNOWLEDGEMENT I thank Almighty God for the gift of life, ability and courage to write this tiresome work. I would also like to appreciate all the people who contributed toward this journey whether directly or indirectly, my colleagues, my professors and particularly my supervisor Prof. Timothy C. Okech for his motivation and guidelines in the process of compiling this research work. Finally, I would like to thank my parents and siblings for their encouragement and immense contribution toward my education. In few words, to God for his mercy and to people on earth for their contribution toward this academic journey. iii DEDICATION This project is dedicated to my cousin Ajok Ayok Akol and her husband Adim Adim Yak for their immense contribution in availing the financial resources at my disposal. To my parents, Mathiec Wol Mathiec and Aluet Agou Anyar for their endless love. To my sisters, brothers and the entire extended family, for their encouragement and moral support throughout this programme. Finally, to my late grandmother Ayen Lueth Bak, your love to me is exceptional and unforgettable, your words made a man who I am today, Rest in Peace. iv ABSTRACT The purpose of this study was to determine the impact of technological financial innovations on financial performance of commercial banks in South Sudan. The study was guided by the following research questions: What is the effect of internet banking on financial performance of commercial banks?; What is the effect of mobile banking on financial performance of commercial banks?; and, What is the effect of electronic banking on financial performance of commercial banks? Explanatory research design was used in this study. The study targeted 24 commercial banks in South Sudan. Employees from these banks formed the population of this study and a stratified sampling technique was used to select the study sample. A sample size of 92 managers was interviewed in this study. The researcher collected primary data by use of structured questionnaire which was self-administered. The data collected was analyzed using SPSS and the findings were presented using tables and figures. The findings showed that there is a significant relationship between internet banking and financial performance of commercial banks. The study established that internet banking contributes greatly on banking operations, customer loyalty and revenues as well as on the profitability of commercial banks. The study found out that there exists a strong positive correlation between internet banking and financial performance of commercial banks. The study revealed that there is a significant relationship between mobile banking and performance of commercial banks. The findings established that internet banking enhances customer security, profitability, efficiency in the banking operations, market accessibility and customer satisfaction in commercial banks. The study also found out that there exists a positive correlation between mobile banking and financial performance. Furthermore, the findings showed that there exists a significant relationship between electronic banking and performance of commercial banks. The study established that electronic banking contributes in enhancing market penetration, resource utilization, and cost reduction, convenience in banking operations, customer security and fraud detection. The study established that there exists a positive correlation between electronic banking and performance of commercial banks. v The study concluded that internet banking is crucial for the perfomance of commercial banks in terms of its profitability, market share and customer attraction. The study asserts that internet banking offers convenince in the banking operations as customers have the flexibility and an easily accessible platform to carry out transactions from any given location allowing banking operations to take place twenty fours hours a day (24/7) thus enhancing financial performance of commercial banks. Recommendations for practice were made in respect to the findings of the study. The study recommended that commercial banks should focus on rolling out internet infrastructure throughout the nation so that more people can access financial services from their convenient location. The study showed that mobile banking services offered by commercial banks should be fully integrated with various telecommunication service providers to increase its usage and adoption among banking clients. Commercial banks in South Sudan should partner up with various telecommunication companies in offering mobile banking services through the use of a mobile enabled platform. The study further indicated that commercial banks should have an integrated electronic platform that supports both internet and mobile banking for convenience purposes that is desired by banking customers. Hence the study recommends that electronic banking services should give freedom for clients to perform various business transactions without any limitations to enhance its usage. Recommendations on further studies highlighted that since, this study investigated the effect of financial innovations on performance of commercial banks in South Sudan. Similar studies should be conducted in other countries like Cameroon, Malawi, Angola and Somalia to establish the impact of financial innovations on performance of commercial banks as well as raise the element of comparison. vi TABLE OF CONTENTS STUDENT DECLARATION ........................................................................................... ii ACKNOWLEDGEMENT ............................................................................................... iii DEDICATION.................................................................................................................. iv ABSTRACT ........................................................................................................................v LIST OF TABLES ........................................................................................................... ix LIST OF FIGURES ...........................................................................................................x LIST OF ABBREVIATIONS AND ACRONYMS ....................................................... xi CHAPTER ONE ................................................................................................................1 1.0 INTRODUCTION........................................................................................................1 1.1 Background of the Study ...............................................................................................1 1.2 Statement of the Problem ...............................................................................................5 1.3 Purpose of the Study ......................................................................................................5 1.4 Research Questions ........................................................................................................5 1.5 Significance of the Study ...............................................................................................6 1.6 Scope of the Study .........................................................................................................6 1.7 Definition of Terms........................................................................................................7 1.8 Chapter Summary ..........................................................................................................7 CHAPTER TWO ...............................................................................................................8 2.0 LITERATURE REVIEW ...........................................................................................8 2.1 Introduction ....................................................................................................................8 2.2 Internet Banking and Performance of Commercial Banks ............................................8 2.3 Effect of Mobile Banking on Performance of Commercial Banks ..............................12 2.4 Effect of Electronic Banking on Performance of Commercial Banks .........................16 2.5 Chapter Summary ........................................................................................................20 vii CHAPTER THREE .........................................................................................................21
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