Adoption of financial technology solutions by unbanked grant recipients in South Africa.
Date
2017
Authors
Tshabalala, Innocentia Nonhlanhla
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Journal ISSN
Volume Title
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Abstract
South Africa still has over 40% of its population without access to a full suite of financial services. With the introduction of financial technology organisation (Fintechs) could they improve access to financial services? Grant recipients are a sub-set of this population as they obtain funds on a monthly basis but do not have access to full suite of financial services. To better understand how financial technology can resolve this issue, the unified theory of acceptance and use of technology (UTAUT) was applied to identify what would influence the adoption of a financial technology for grant recipients that are unbanked or underserved. Through various interviews the following was noted:
Performance expectancy does influence the adoption of a new financial technology service by a grant recipient. In addition the habit and experience of the grant recipients will impact how performance expectancy influences the adoption of a new technology.
Effort expectancy will influence the adoption of a new financial technology by a grant recipient. However habit and experience will not influence grant recipients effort expectancy for the new technology
Price value will influence the adoption of a new financial technology by a grant recipient. However the habit and experience of the grant recipient did not impact how price value influenced the adoption of a new financial technology by a grant recipient
Based on the above financial service institutions can better address the needs of the grant recipients and potentially partner with Fintechs that can provide solutions that address all the above.
Description
MBA Thesis
Keywords
Financial services industry,Banks and banking -- Customer services -- South Africa,Low-income consumers ,Microfinance -- South Africa