How has traditional banking practices in Zambia been influenced by mobile banking: a case study of Atlas Mara Mongu.

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Mofya, Roy
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The University of Zambia
The motivation behind this study was the rapid changes that were happening in the banking industry with the coming in of mobile banking, but a gap remained in addressing the implications of this innovation on traditional banking practices in Zambia. The objective of this study was to examine the influence of mobile banking on traditional banking practices in Mongu and Atlas Mara Mongu branch as a case study. A research design using qualitative and quantitative data collection methods was used for this study. A descriptive research design was adopted in this study. Purposive Sampling procedure was used to select the 50 questionnaire participants. Quantitative data resulting from the questionnaires was analyzed using excel, Likert scale analysis and explanatory method on the collected data. It was established that though customers have remained loyal to banks, the banks have not been able to grow their businesses as a result of the advent of mobile money services. Recent decades have experienced the advantages of the unconventional methods in contrast to orthodox means of banking. The mobile banking service is one such result of the unconventional methods. Because of its utility and ease of use, most of the financial institutions are offering their consumers with mobile banking technology as an alternative to conventional banking system. Accessibility of mobile money services is very high compared to bank services hence banks should be able to work with mobile service providers to be able to remain profitable in the industry. Mobile money services are also very reliability and they are attracting a lot of customer because of the flexibility they provide. Mobile money services are also convenient and Safety to use and they are found almost every in the city of Mongu. The study recommends that commercial banks should develop growth strategies along the mobile banking business model. Atlas Mara should increase its accessibility, reliability and become more convenient making sure they are found everywhere in the city.
Banks and banking. , Electronic funds transfers. , Mobile Banking.