IOSR Journal of Humanities and Social Science, 2013
The vitality of technology utilisation by banks in establishing competitiveness in rural areas is... more The vitality of technology utilisation by banks in establishing competitiveness in rural areas is unarguable. This paper provides primary information to guide banks in structuring their marketing strategies, quality improvements and business processes on the backdrop of rural milieus in order to achieve financial inclusion. The sample comprised of respondents drawn from various banks, agents of mobile operators, rural residents including farmers from irrigation schemes in Gwanda District. The hypothesis of study was that mobile money is reducing rural financial exclusion faster than traditional rural banking, microfinance and financial development aid. The majority of small scale rural business people were influenced to bank with banks which use advanced modern banking technologies and are partnering with mobile network operators because of convenient service and the reduction of trips made to urban centres for banking purposes. A lot of credit was given by rural dwellers to the Ecocash product of ECONET which enables small scale rural business people to undertake many low value money transfers as well as payments for their business activities. The study concludes that mobile banking has potential in reducing poverty by bringing into mainstream economic activity the previously excluded rural communities.
IOSR Journal of Humanities and Social Science, 2013
The vitality of technology utilisation by banks in establishing competitiveness in rural areas is... more The vitality of technology utilisation by banks in establishing competitiveness in rural areas is unarguable. This paper provides primary information to guide banks in structuring their marketing strategies, quality improvements and business processes on the backdrop of rural milieus in order to achieve financial inclusion. The sample comprised of respondents drawn from various banks, agents of mobile operators, rural residents including farmers from irrigation schemes in Gwanda District. The hypothesis of study was that mobile money is reducing rural financial exclusion faster than traditional rural banking, microfinance and financial development aid. The majority of small scale rural business people were influenced to bank with banks which use advanced modern banking technologies and are partnering with mobile network operators because of convenient service and the reduction of trips made to urban centres for banking purposes. A lot of credit was given by rural dwellers to the Ecocash product of ECONET which enables small scale rural business people to undertake many low value money transfers as well as payments for their business activities. The study concludes that mobile banking has potential in reducing poverty by bringing into mainstream economic activity the previously excluded rural communities.
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