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the changing face and pace of KENYA’s bANKING INDUSTRY

the changing face and pace of KENYA’s bANKING INDUSTRY. BY Habil O. Olaka CEO, Kenya Bankers Association . Management Practices in the Kenyan Banking Industry. Factors affecting management Practice in Banking Government Regulations Changes in Technology Social Development

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the changing face and pace of KENYA’s bANKING INDUSTRY

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  1. the changing face and pace of KENYA’s bANKING INDUSTRY BY Habil O. Olaka CEO,Kenya Bankers Association

  2. Management Practices in the Kenyan Banking Industry Factors affecting management Practice in Banking Government Regulations Changes in Technology Social Development Competition Geo-political Developments Areas Most impacted by Changes Human Resource Management Operations Management Marketing Product Development

  3. Human Resource Management Practices Banking As a career • Entry Level clerks ( ‘O’ Level ) • In-house training & Development • Over Time Promotion through the Ranks • Very little Personal Development • Promotion was slow and subjective • Salaries fixed to position Banking as a Profession • Graduate clerks • Management Development Programs • Learning and development in staff initiative • Performance management • Promotion based on performance • Positions advertised ( internal/External) • Reward based on individual performance

  4. Operations Management Centralised Operations based on Head Office Decisions made at Head Office Centralised Processing Banking with a Branch Customer Processes at Parent Branch Cheque Pay/No Pay decisions Account details in the branch Localised Data management • Branchless Banking • Wide Area Network systems • Banking with the Bank • Extended opening Hours

  5. MARKETING DevelopmentS • Fixed Product Set across Industry • Advances • Saving Accounts • Current Accounts • Regulated Interest Rates • Increased competition led to • Product Differentiation • Niche markets • Specialised products • Advertising and Marketing promotions

  6. Technology DevelopmentS • Processes were manual • Decisions slow • Costly operations • Use of ICT to automate processes • Cost-Cutting • Efficiency • Effectiveness • Wide Area Networks • Core Banking platforms • Self Service systems • E-banking • Internet Banking • ATM Networks

  7. OTHER DevelopmentS Innovations in the Industry to lower overall cost of banking services • SWIFT Network ( RTGS/KEPSS) • MICR Clearing and Cheque Truncation • Agency Banking • Mobile Banking • Currency Centres • Credit Information sharing

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