Title:
INFLUENCE OF INFORMATION CAPITAL READINESS ON IMPLEMENTATION OF CUSTOMER ASSET MANAGEMENT BY SACCOS LICENSED TO UNDERTAKE DEPOSIT-TAKING IN KENYA

Authors:
Dr. Caleb Odhiambo Onjure, PhD. ,Ms Faith Mukonyo Muia and Prof. Erick Aseka ,Kenya

Abstract:
Businesses are thinking hard now on how to break even during uncertainties that has made planning and strategic decisions difficult. Survival has become tough in the financial sector worldwide and leaders must think creatively and flexibly. This has been catalyzed by the spread of COVID-19. For survival, the SACCOs are looking into a future of revolution that will takes them to next level through approaches like web and mobile banking applications to embrace world class technology, affordable and flexible systems, no hidden costs, 100% customized processes and unbeatable time to the market. The SACCOs must re-strategize on how to stay afloat. The main objective of the study was to determine the influence of information capital readiness on implementation of customer asset management in SACCOs licensed to undertake deposit taking in Kenya. Specifically, the study investigated the influence of IT infrastructure, IT transformational application, IT analytical application, and IT transaction processing application on customer asset management by SACCOs licensed to undertake deposit-taking in Kenya. The study employed descriptive research design. The study population was 175and carried out a census survey on the same. The study established that information capital readiness has significant influence customer asset management by licensed deposit taking SACCOs in Kenya. The study found that there is a negative insignificant influence of IT transformation application on customer asset management. The study concluded that there were gaps in areas such as training, innovativeness, risk management, scenario planning, and general management. The study recommended leverage on technology, member development and staff training, intensifying monitoring and evaluation/ control, process reengineering, and proper data management. The study recommends for reengineering on IT analytical application and IT transformational applications processes. This will involve radical thinking and re-designing modern technology available.