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Fintech Collaboration and Perfomance of Commercial Banks in Kenya

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Fintech Collaboration and Perfomance of Commercial Banks in Kenya FINTECH COLLABORATION AND PERFOMANCE OF COMMERCIAL BANKS IN KENYA. BY JAMES ONYANGO OKODO A RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILMENT OF REQUIEMENTS FOR THE AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI 2019. DECLARATION This research project has not been submitted for examination in any other university and is my original work. Signature………………………………. Date……………………………... This research project has been submitted for examination with my approval as University Supervisor. Signature………………………………. Date……………………………. SUPERVISOR PROFESSOR. KATE LITONDO. DEPARTMENT OF BUSINESS ADMINISTRATION, SCHOOL OF BUSINESS UNIVERSITY OF NAIROBI. i AKCNOWLEDGMENT My Supervisor Prof. Kate Litondo. Your alacrity and wisdom is during the entire time writing this research project has been unparalleled. I would also like to acknowledge other Lectures and fellow classmates, who have always been positive and supportive. I owe my success to your sacrifices. \ ii DEDICATION My Family My Parents, for the moral and emotional support. For persistently encouraging me to always chase my dreams. My sibling Andrew, Antony, Michael and Emmanuel who continue to be my pillars of strength. My friends and colleagues Your emotional and moral support has been steadfast. May God Bless you. iii LIST OF FIGURES Figure2.1 The Conceptual Framework .............................................................................. 13 Figure 4.1 Period the Participant has worked in the organization…………………….….22 Figure 4.2 Bank – Fintech Collaborations Model……………………………………….24 Figure 4.3 Fintech - Collaboration Areas……………………………………………….27 Figure 4.4 Pre and Post Fintech – Collaboration TE Summary ………………………....30 iv LIST OF TABLES Table 3.1: Pre and post Fintech Collaboration periods .............................................. ……17 Table 3.2: The Variables in the DEA model ..................................................................... 17 Table 3.3: DEA input and output variables for the intermediation dimension………....19 Table 4.1: Rate of Response………………………………………………………….…27 Table 4.2: Designation in the Company ………………………...……………………....21 Table 4.3: Perception of Bank- Fintech Collaboration …………………………….……23 v TABLE OF CONTENTS DECLARATION ............................................................................................................... i AKCNOWLEDGMENT .................................................................................................. ii DEDICATION ................................................................................................................. iii LIST OF FIGURES ......................................................................................................... iv LIST OF TABLES ............................................................................................................. v ABBREVIATIONS AND ACRONMYNS ................................................................... viii ABSTRACT...................................................................................................................... ix CHAPTER ONE: INTRODUCTION ........................................................................... 1 1.1. Background of the Study....................................................................................... 1 1.1.1 Fintech Collaborations ................................................................................... 1 1.1.2. Bank Performance ......................................................................................... 2 1.1.3 Commercial Banks in Kenya .............................................................................. 3 1.2 Research Problem ................................................................................................. 4 1.3 Research Objective ............................................................................................... 5 1.4 Value of the Study................................................................................................. 6 CHAPTER TWO: LITERATURE REVIEW................................................................. 7 2.1 Introduction ................................................................................................................ 7 2.2 Theoretical Foundation .............................................................................................. 7 2.2.1 Theory of Financial Intermediation .................................................................... 7 2.2.2 Technology Acceptance Theory ......................................................................... 8 2.2.3 The Institutional Theory ................................................................................... 10 2.3 Fintech- Bank Collaborations ............................................................................. 11 2.3.1 Fintech Collaborations and Performance of Commercial Banks ................ 13 2.3.2 Conceptual Framework ................................................................................ 15 CHAPTER THREE: RESEARCH METHOLOGY .................................................... 17 3.1 Introduction ......................................................................................................... 17 3.2 Research Design .................................................................................................. 17 3.3 Study Population ................................................................................................. 18 vi 3.4 Data Collection ........................................................................................................ 18 3.4 Data Analysis ...................................................................................................... 20 CHAPTER FOUR: DATA ANAYSIS, FINDINGS AND DISCUSSION................... 22 4.1 Introduction .............................................................................................................. 22 4.2 Response Rate .......................................................................................................... 22 4.3 Background Information .......................................................................................... 23 4.3.1 Designation in the company ............................................................................. 23 4.3.2 Work Period of Participant in the Organisation. .............................................. 24 4.3 Bank- Fintech Collaborations .................................................................................. 25 4.3.1 Perception on Bank – Fintech Collaborations .................................................. 25 4.3.2 Bank – Fintech Collaborations Model .............................................................. 26 4.3.2 Bank – Fintech Collaborations Areas ............................................................... 27 4.3.2 Summary of secondary DEA models data ............................................................ 31 4.3.3 Results and Discussions ........................................................................................ 32 CHAPTER FIVE: SUMMARY CONCLUSIONS AND RECOMMENDATIONS .. 35 5.1 Introduction .............................................................................................................. 35 5.2 Summary .................................................................................................................. 35 5.3 Conclusions.............................................................................................................. 36 5.4 Recommendation of the Study................................................................................. 36 5.5 Limitation of the Study ............................................................................................ 37 5.5 Suggestion for Future Studies .................................................................................. 37 REFERENCES ................................................................................................................ 39 APPENDICES .................................................................................................................. 43 Appendix I: Commercial Banks in Kenya. .................................................................... 43 Appendix II: List of Fintechs. ........................................................................................ 44 Appendix III: Questionnaire Guide ............................................................................... 46 vii ABBREVIATIONS AND ACRONMYNS ATM Automated Teller Machines DEA Data Envelopment Analysis TE Technical Efficiency ESH Efficient Structure Hypothesis TAT Technology Acceptance Theory viii ABSTRACT As Fintech innovations continue to alter the landscape in the banking sector, banks in Kenya are forming collaborations that are envisioned to shape delivery of services. This study investigates the influence of Bank-Fintech collaborations on a bank’s efficiency using the data envelopment model with input-orientation based on the intermediation dimension. Efficiency scores are decomposed as technical efficiency. Secondary data for the period 2009-2018 is extracted from banks sampled from total population of 44 banks in Kenya. Technical efficiency is calculated based on Pre Fintech and Post Fintech times based on four Intermediation Models anchored on Deposits, Loans, Interest Income and Interests Expense as inputs and Outputs. ix CHAPTER ONE: INTRODUCTION 1.1. Background of the Study Technology based Innovations continue to change how we do our work, how we
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