Publication: Investigation on Factors Facilitating Accessibility of Banking Services through Agency Banking in Kenya: (A Case of Equity Bank) in Kitui Central District, Kitui County, Kenya.
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2015-08
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International Journal of Scientific and Research Publications
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Abstract
Agency banking has become one of the essential services in the banking sector in bringing their services closer to the people at the grass-root or in remote areas where brick and mortar branches are not present. This study focused on the role of agency banking in providing and availing the banking services to the customers’ .The purpose of the study was to explore the functionality and contribution of agency banking. This study assessed the Role of agency banking in increasing accessibility to banking services and helping in decongesting the banking halls in Kitui central district, through an analysis of the costs and benefits raised by agency banking and how these are distributed among the stakeholders .The researcher was guided by the following objectives:-To investigate the cost of banking transactions through agency banking ,to investigate the efficiency of Agency banking in time saving, To investigate the convenience of banking products offered through agency banking and to investigate if availability of bank Agents has increased the opening hours to increase accessibility for banking services. The study used descriptive survey design and the target population was six Equity bank agents and one hundred (100 A/c holders) in Equity bank in Kitui central district. Data was collected using questionnaires and review of documentation .Data analysis was done quantitatively using inferential statistics mean ,mode, median and percentages with the help of computer software statistical package for social scientist(Spss) and the presented in tables, bar charts and graphs. Qualitative data was analyzed thematically according to the study objectives. The findings of this study are; the banking agency availed banking services closer to the customers leading to more accessibility hence saving the customers the transport cost, the agency banking is efficient in terms of transactions cost and time saving and most of the respondents were impressed by their performance, the agency banking like any other bank offered banking products which include; cash withdrawal, cash deposit, bill settlement and balance enquiry. The recommendations of the study are; Equity bank should do more advertising to sensitize the public on the availability and the services of agency banking, agency banking should also increase the products to include credit facilities and that the agency banking should have more money so that those who wants to withdrawal more would not be forced to go to the physical banks.
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Agency banking,, accessibility to banking services,, Agent,, banking,, Principal