Effectiveness of Mobile Banking Service Delivery in Tanzania: A Case Study of CRDB Bank

Abstract

Digitization of banking technology is an essential means in transforming the financial services industry delivery, resulting to the increase of number of people who use mobile banking services either through mobile money companies or through the cooperation between banks and mobile companies, and mobile banking services still needs an effective oversight framework to safeguard public confidence and financial stability. To examine the effectiveness of mobile banking service delivery in Tanzania, a case study of CRDB Bank. In attaining this objective, the study further examined three specific objectives. The study examined customers’ altitude towards the use of mobile banking services in Tanzania and examined the extent of customers’ adoption of mobile banking services in Tanzania and examined challenges experienced by customers towards mobile banking services usage in Tanzania. The study adopted mixed used research design by combining the use of quantitative and qualitative approach. The findings revealed that customers had positively altitude towards mobile banking services and to the great extent; the customers are using some of the services offered by mobile banking services. Main challenges identified were transactional costs, security and privacy and reconciliation challenges. It was recommended for the conduction of more campaigns on mobile banking services, provision of trainings and awareness sessions to customers on the issues of security and privacy in using mobile banking services.