The Effect Of Mobile Phone Technology Innovations On Financial Deepening Within The Banking Industry In Kenya

Abstract

The main purpose of this study was to establish the effect of mobile phone technology innovations on financial deepening within the banking industry in Kenya. The study adopted a survey research design since it focused on commercial banks in Kenya. It made use of secondary data that was partly collected from the published financial statements of commercial banks in Kenya while the rest of the data was obtained from various departments of the said commercial banks. The researcher managed to collect data from 35 commercial banks in Kenya. Regression analysis was used to establish the effect of mobile phone technology innovations on financial deepening within the banking industry in Kenya. The study revealed that mobile phone technology innovation explains some variance in the financial deepening of the banking industry in Kenya. However the variance explained is not higher than the unexplained percentage since there are other variables that explain a greater percentage of financial deepening in the banking industry. As such, the results of the model indicate that none of the variables is significantly related to the dependent variable.