Abstract: The study sought to establish how branchless banking technology can be used as an effective tool for the success of financial inclusion strategy of a bank. A descriptive research design was used with 108 respondents from strategic management and IT staff of Atlas Mara bank and three Mobile network operators. The study established that the type of branchless banking technology the bank uses for financial inclusion were prepaid cards and mobile banking represented by all respondents. However the banks technology was not effectively utilised represented by a high percentage who indicated average usage. The results further showed that majority of respondents indicated the importance of branchless banking technology as reducing risks, costs and improves convenience and accessibility. Branchless banking services were not accessible to previously unbanked due to accessibility challenges and convenience which are limited by the banks lack of technology capacity and infrastructure. Therefore the finding concluded that there was need for the bank to engage in partnerships with Mobile network operators and agents, engage in product awareness and sensitisations; and advance product innovations to sort out the gaps in effective delivering of innovative products and achieving their financial inclusion strategy. The study contributed by providing solutions to the gap in attaining financial inclusion despite the fact that banks have rolled out branchless banking products.
Keywords: Financial Inclusion, agent based branchless banking, mobile banking, kiosk, prepaid cards.
Title: ADVANCING BRANCHLESS BANKING TECHNOLOGY AS AN EFFECTIVE TOOL FOR FINANCIAL INCLUSION: A CASE STUDY OF ATLAS MARA BANK
Author: Chileshe Matesi
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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