The Effects of Information Technology on Marketing of Financial Services in Tanzania: A Case of Commercial Banks.

Mwita, Deus (2022) The Effects of Information Technology on Marketing of Financial Services in Tanzania: A Case of Commercial Banks. Masters thesis, The Open University of Tanzania.

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Abstract

The banking sector is one of the most important sectors in the economy of any modern society. In emphasizing the role of this sector in fostering economic development, it has been said that a modern economic system without a good banking sector is like a car without an engine. Countries around the world are striving to make sure that a reliable banking sector is occupying its space in the economy, and all stakeholders benefit from banking business. Following the liberalizations in the banking sector in Tanzania, for example, the government through the Bank of Tanzania implements prudent controls and regulations in this sector to ensure that it stands to benefit as wide a range of stakeholders as possible through the market mechanism. On the other hand, the sector has been greatly exposed to the effects of Information Technology (IT). This fact has led this study to specifically endeavour to investigate the effects of IT on marketing of financial services in Tanzania. To illustrate these effects, about seven (7) commercial banks with computerized information systems and eighty (80) bank customers were studied. The study found that IT is an unavoidable input in today’s Tanzanian banking sector. It not only affects the way the financial services are marketed, but also transforms the whole industry to be more competitive, more efficient and more effective. As the world moves towards the information age and an integrated world economy, financial services are increasingly marketed worldwide with IT as a pillar of the sector’s worldwide operations. Based on these findings, it is recommended by the researcher that the Tanzanian banks should align themselves with the rest of the world to utilize IT in reaching all possible niches that were traditionally unreachable. Keywords: Information Technology, Financial Services, Commercial Banks.

Item Type: Thesis (Masters)
Subjects: 600 Technology > 658 Gerneral management
Divisions: Faculty of Business Management > Department of Accounting and Finance
Depositing User: Mr Habibu Kazimzuri
Date Deposited: 05 May 2023 08:38
Last Modified: 05 May 2023 08:38
URI: http://repository.out.ac.tz/id/eprint/3612

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