The Effects Of Modern Technology On The Level Of Employment Opportunities In Financial Institutions: A Case Study Of Equity Bank (Eqty) Katwe Branchmakindye Divisionkampala District

The Study was meant to investigate the effects of modem technology on the level of employment in financial institutions. The study was guided by the following Objectives; to find out the effects of modern technology on the level of employment opportunities in financial institutions, to find out the challenges facing modem technology in financial institutions in relation to employment opportunities, and to find out possible solutions to the challenges faced by modern technology in financial institutions. The study employed the cross-section design in which both the quantitative and qualitative techniques were used. Stratified and simple random sampling methods were used to locate 35 respondents that were considered during the study. Questionnaires were used to generate information from the respondents. The study findings revealed that modern technology leads to massive displacement of workers in financial institutions, it was also revealed that as modern technology changes, it causes a feeling of insecurity at work, indivisibilities at work, and that it makes jobs obscenest. However, on the other hand it was also revealed that modern technology reduces the level of illiteracy in financial institutions and makes people compete for more advanced technology jobs. Challenges facing modem technology in financial institutions in relation to employment opportunities and possible solutions were established. Conclusively, it was found out that through liberalization of the economy and privatization of government owned financial institutions, facilitation of exchange of foreign currencies, getting involved in management of some schools by financial institutions, use of later adopter opportunities, putting up a law that accommodates electronic contracts and signatures and reduction in taxes by the govemment, financial institutions can be in position to create more employment opp01tunities for more people in financial institutions as demanded by the uncontrolled speed at which modern technology is moving.