Influence Of Internet Banking On Savings Among Low Cadre Employees In Mau Tea Multipurpose Cooperative Society Limited In Kericho County, Kenya

ABSTRACT

ICT innovation has revolutionized the banking sector in a bigger way and their application has led into emergence of internet banking. As a result, consumers are shifting from tradition channels to digital ones leading to the new and popular trends of financial transactions. This research seeks to examine influence of internet banking on savings among low cadre employees in tea industry in Kenya. The specific objectives were: To determine the effect of Mobile Network Operations, establish ATM use, examine the effect of IT knowledge and assess the effect of internet access among the lower cadre employees in Mau Tea Multipurpose Cooperative Society Ltd. The research adopted case study research design. A sample of 150 was selected from a population of 249 using simple random sampling techniques. Data was collected using questionnaires. Obtained data was analyzed using by descriptive and inferential statistics, to examine various sub categories of data in order to make meaning out of them. Multiple regression analysis method was used in testing effect among variables. There was strong effect between IT knowledge and Internet access, a weak effect on employee savings between Mobile Network Operations. Mobile Network Operations delivered a least performance as a predictor while IT knowledge was the best loaded compared to all other predictors in support of employees’ savings. Mobile Network Operation was generally the least performed. The employee saving support comes mainly ATM use, IT knowledge and Internet access, since their factors are loaded together indicating higher support. Banks need to focus on attention at a lower cadre of employees in both private and public sector, commercial banks need to carry out training on basic IT knowledge in collaboration with local tea producers, to harness further research of the Mobile Network Operations in order to establish its poor response and low support towards employee savings.