Title: The Impact of Digital Banking on Financial Inclusion in Uganda: A Case Study of Centenary Bank Nansana Branch
Authors: Musiimenta Nancy, Kaziro Nicholas
Volume: 9
Issue: 2
Pages: 42-46
Publication Date: 2025/02/28
Abstract:
This study explored the impact of digital banking on financial inclusion, focusing on Centenary Bank Nansana Branch, Uganda. The research aimed to examine the relationship between digital banking usage and access to formal financial services, evaluate the perceived benefits and challenges of digital banking, and analyze its impact on customers' financial behavior and well-being. The study utilized a mixed-methods approach, incorporating both qualitative and quantitative data collected from surveys and interviews with bank customers. Data analysis was conducted using SPSS and STATA, applying multiple linear regression to assess significant relationships. The findings revealed that digital banking significantly improved access to formal financial services, with factors such as digital literacy, mobile phone ownership, and trust in platforms playing a crucial role. However, challenges such as high transaction costs and security concerns were identified. The study concluded that digital banking positively influenced customers' financial behavior and well-being, enhancing savings and financial planning. The results underscored the need for improved digital literacy, reduced costs, and strengthened security measures to fully realize the potential of digital banking in driving financial inclusion.