Mobile banking and the performance of financial technology companies in Uganda. (A case study of Service Cops Limited)
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Financial sector assumes a vital part in the financial improvement of any country. The depth of the financial sector has customarily advanced monetary development by expanding financial productivity, ventures and growth. Mobile banking is a service administered by monetary institutions in collaboration with mobile service administrators. The study sought to establish the effect of mobile banking on financial technologies in Uganda. The study used a descriptive correlational research design. The target population for the study comprised of all 52 of the 81 employees from Service Cops Limited, a financial technology in Uganda. The study used secondary data from employees who have been employed in the company for over a year and also document review of transactions performance. Descriptive statistics and multivariate regression model was used to analyze data. The dependent variable was performance of financial technologies- measured in terms of customer satisfaction, Employee welfare maximization, sales maximization, and profit maximization- while independent variables were transaction volumes and the mobile banking products and services in Uganda. The study found out that the general intercept was 0.682. The independent variables that were studied explain a substantial 89% of the performance of financial technologies in Uganda as represented by adjusted R2 (0.89). This implied that mobile banking services positively and significantly affects the financial sector development in Kenya. The study concluded that transaction volumes and mobile banking products and services positively and significantly affect the performance of financial technologies in Uganda as it was observed with a 0.042 P- value. The study recommends about the subsidization of operations or a tax relief from the government of Uganda. The study further recommends the maximization of employee of financial technologies as in order to enhance a bearable customer journey.