RUTH73
Impact of Financial Technology (Fintech) on Traditional Banking:…
Impact of Financial Technology (Fintech) on Traditional Banking: A Comparative Study of Consumer Preferences and Adoption Rates – A Comparison Between Kenya and the UK
1 Clearly outline the research methods used in the study.
2 Discuss the rationale behind the chosen methods and justify their appropriateness for the research objectives.
3 If primary research was conducted (e.g., surveys, interviews), provide details on the sample size, sampling method, and data collection process.
An online survey questionnaire was conducted for this study . 20 respondents from different locations and different demographics and age ranges from 20 to 60 were picked both from Kenya and the UK
The research objectives for this study are
1 Examining Customer Preferences and Adoption Rates
1.1 Adoption Rates of Fintech Services
1.2.Customer Preferences and Decision-Making Factors
2. Analysing the Factors Influencing Fintech Adoption
2.1 Trust and Security Concerns
2.2. Technology Infrastructure and Access
2.3 Financial Literacy Levels and Cultural Inclinations
3. Assessing the Impact of Fintech On Traditional Banking Institutions
3.1 . Market Share and Profitability
3.2 Customer Retention Strategies
4 Regulatory Frameworks
4.1 . Licensing Requirements
4.2 Consumer Protection Measures and Data Privacy Regulations
5.. Contextual Comparative Analysis
5.1 Customer Preferences and Adoption Patterns Comparison
5.2 Implications for Banking Practices
RESEARCH METHODOLOGY
This chapter delves into the comprehensive research methodology employed to explore the multifaceted impact of financial technology (Fintech) on the traditional banking sector in both Kenya and the United Kingdom (UK). The selection of an appropriate research approach is pivotal in ensuring a robust investigation of the intricate interplay between these two domains (Burrell & Morgan, 1979). In this chapter, we elucidate the methods chosen in alignment with the objectives of this study.
This chapter introduces the guiding principles that underscored the research and highlights the methodologies adopted based on these principles. The final sections sheds light on the instrumental role of questionnaires in data collection.
Guiding Principles
It is acknowledged in this body of work that human actions and decisions are fundamental drivers shaping complex social phenomena (Burrell & Morgan, 1979). The investigation are fuelled by a genuine desire to comprehend real-world scenarios, acknowledging the crucial role of human behaviour in shaping outcomes.
Balanced Comparative Analysis
Central to our research methodology is a balanced comparative analysis between the Fintech landscapes of Kenya and the UK. This approach embodies the principles of unbiased analysis and allows for the generalization of findings across diverse contexts (Burrell & Morgan, 1979). Our methodology subscribes to the empirical exploration of hypotheses and the generation of insights through rigorous examination.
Comparative Case Study Design
The exploratory nature of our research dictates the selection of a comparative case study design. This approach serves as an effective framework to unravel the nuances of Fintech adoption by juxtaposing the experiences of Kenya and the UK (Yin, 2018). By scrutinizing multiple cases within each country, this approach facilitates the identification of patterns, discrepancies, and shared attributes.
The qualitative methods used, such as interviews and content analysis, serve as tools for gaining nuanced insights into the preferences and attitudes of individuals, as highlighted by Saunders et al. (2019). The qualitative insights gleaned from these methods are combined with the quantitative analysis, resulting in what we propose is a comprehensive and multifaceted understanding of the phenomenon, as emphasized by Creswell and Creswell (2018).
The implementation of questionnaires as our primary data collection instrument facilitates the acquisition of standardized data from a range of participants spanning both countries (Saunders et al., 2019). The targeted age group of 20 to 60 is chosen to encapsulate a broad spectrum.
The quantitative data collected from the questionnaires will be analyzed using standard statistical methods to identify patterns, correlations, and trends. Similarly, the qualitative responses obtained from the interviews will be examined using thematic analysis techniques to uncover underlying meanings and insights, following the approach suggested by Creswell and Creswell (2018).
To conclude, this section has detailed the research methodology designed for our investigation into the impact of Fintech on traditional banking in Kenya and the UK. Building on the foundational work of Burrell and Morgan (1979), our methodology offers a practical framework for navigating real-world complexities. By combining a comparative case study design with a mixed methods approach, informed by insights from Saunders et al. (2019), our methodology enables a comprehensive exploration of the interplay between Fintech and traditional banking. The next chapter will present the empirical findings and facilitate a thorough discussion of their implications.
