MOBILE BANKING TECHNOLOGY AND ITS INFLUENCE ON FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN LODWAR MUNICIPALITY

Mobile banking technology is the most recent technological innovation in the modern banking industry. It has aided improvement in revenues by reducing overhead cost associated with financial institutions thus facilitating financial performance. The purpose of this study was to examine the influence of mobile banking technology on financial performance of commercial banks in Lodwar Municipality. The study adopted descriptive research design. Both primary and secondary data was collected using questionnaires, interview schedule and data collection sheet. The data collected was analyzed by the help of SPSS which yielded both quantitative and qualitative data using descriptive and inferential statistics. The study found that, mobile banking technology has a significant influence on financial performance of commercial banks in Lodwar Municipality.