FACTORS HINDERING ADOPTION OF TECHNOLOGICAL INNOVATION BY CO-OPERATIVE BANKS A CASE STUDY OF CO-OPERATIVE BANK, MIGORI BRANCH

Abstract

The general objective of the study was to determine the factors hindering adoption of technological innovation by Co-operative Banks with a special reference to Co-operative Bank, Migori branch, the following were objectives; to identify the various types of technological innovation currently adopted by Co-operative Bank, Migori Branch, To establish the possible problems associated with the adopted technological innovation by Co-operative Bank, Migori Branch and to suggest possible strategies of enhancing adoption of technological innovation in Co-operative Bank, Migori Branch. The study targeted a population of 42 respondents who are employees of Co-operative Bank, Migori branch. The researcher used all the 42 employees of Co-operative Bank, Migori branch using a complete census method. This is because the target population is small and hence manageable. The researcher used both open and closed ended type of questionnaires in her data collection. The validity of the instruments was censured by the supervisor‟s expert opinion. The reliability of the instruments was tested using a test and re-test method. The data collected was checked and edited for clarity, legibility, relevance and adequacy. This involved checking for non-response and acceptance or rejection of answers, which was pre-coded by the researcher. The data was cleaned, tabulated, frequencies and percentages were used to analyze the data. The results of the analysis were presented in frequency tables and percentages. The study found out that mobile banking is one of the types of technological innovation currently adopted by Co-operative Bank, Migori Branch, similarly; the study found out that electronic transactions , customer automated and personal computer are other types of technological innovation adopted by the bank. Management is one of the possible problems associated with the adopted technological innovation by Co-operative Bank, Migori Branch, on the other hand; culture and infrastructure are also other possible problems associated with the adopted technological innovation by the Bank. Mentoring is one of the possible strategies of enhancing adoption of technological innovation in Co-operative Bank, Migori Branch, on the other hand; the study found out that training and development, incentives and rewards restructuring and are also other the possible strategies of enhancing adoption of technological innovation in the Bank