Vol. 9, No. 1, April 2018

Financial technology (FinTech) continues to receive much attention and promises to transform financial services industry. As this technology emerges there is a strong conviction that it will reduce costs and create new opportunities to the participants. And, although the development of FinTech is still in early stages, many believe that it will define and shape the future of the financial services industry, and at the same time increase participation by those who have until recently been under- or un served. Fin tech is evolving in an environment that portents intense competition and there is a doubt of outright success in this space. Various factors, both internal and external, will impact on this rather highly fluid product providing technology. Survival in this market will rely on how best a participant positions oneself and meet customer expectations. This article demonstrates some key factors that determine the success of FinTech firms in this competitive industry. Some of these factors, termed the LASIC (low margin, asset light, scalable, innovative and compliance easy) principles have been mentioned. FinTech companies could benefit from applying some of the ideas presented in this article to their businesses. We surveyed key firms in the financial sector investing and innovating new FinTech products. Safaricom was singled out and it’s LASIC basic principles isolated to illustrate how its success relies on these principles. The conclusion drawn is that in the ever changing financial environment consumers represent a key focal element. Firms should strive to manufacture products that meet the expectations of the changing needs of customers in the financial market- personalized services that provide convenience, security and connectivity. Connectivity can be achieved through smart phones, wirables and across radio signals. The financial market needs an integration of both social linkage and financial inclusion. FinTech expansion does not evolve in a vacuum. There will always be government and its agents ready to institute regulatory processes to protect both consumers and service providers. It is important to point out that regulation should be pro- tech rather than anti-tech. The regulations created should encourage growth of technologies like M-PESA because of the benefits that come with such technology.

There have been relatively few studies focusing directly on the way mobile payments are used to enhance the quality of the services of MSEs especially those in rural areas and therefore increasing their profitability. The main purpose of this study was to determine the effect of mobile phone-money transfer services (M-PESA) on the profitability of Micro and Small Enterprises in Bungoma County. The target population was Micro and Small Enterprises which consisted businesses such as retail shops, tailoring, chemists, hardware’s, carpentry, metal workers, hair salons, repair services and butcheries. Descriptive research design was used to obtain information about the existing phenomenon by use of questionnaires. The sampling technique used was multi-stage random sampling where a total of 57 sample size was yielded. Excel Computer Package was used to analyse data which was descriptive and presented in form of graphs, pie-charts and percentage tables. Some of the major findings included that almost each business own or have used a mobile phone in their business at 98% which signifies that the high penetration of the mobile phone among the MSEs in rural areas can serve to help the high percentage of unbanked small businesses access financial services through M-pesa which helps them to increase their profits and as a result, the mobile phone industry can be seen as an ideal partner to offer mobile services to MSEs in rural areas. The government should assist in bringing down the cost of m-pesa transactions so as to induce MSEs in using mobile money transfer services.

Devolution in Kenya has brought changes in many sectors of the economy. With the aim to attain the vision 2030 of industrialized nation and technological invention and innovation, many industries have embraced innovation in the field of information communication technology. ICT is seen as the main drive towards attainment of technological goals. Innovation in IT has been the force behind transformation of financial institutions in Migori County. Tremendous development in IT and the struggle to attain the vision’s goals has made banking services more effective, accessible and cheaper. The study investigated the effects of E-banking on financial performance of commercial banks in Migori County. There are 4 variables used to investigate the main objective of the study. The study investigated 6 banks in five towns in Migori County. 56 respondents filled the questionnaires and emailed them back. Purposive sampling was used to select banks in the towns whereas stratified random sampling was used to cover the total population. The study adopted descriptive research design where qualitative and quantitative approaches were used. Primary data was be collected through questionnaires developed and sent to respondents of commercial banks. The data was augmented with secondary data that was incorporated in the questionnaires and the central bank of Kenya supervisory reports. Regression analysis with aid of Statistical packages for social science and Microsoft Excel played a major role aid in data analysis and presentation. To test for significance, paired t-test and non-parametric test was used at 0.05 level of significance. The analysed data was presented using narrations, tables and line graphs.

There are various policies and programs being run by the government of India for uplifting the status of the citizens. This paper focuses on the policy that has been particularly introduced for the betterment of elderly people named Indira Gandhi National Old Age Pension Scheme popularly known as ‘Vridhdha Pension’. The main aim of this study is to gather information about the implementation of this scheme on elderly women in slum areas of Aligarh city and the behaviour of the people of the concerned departments towards them. 40 elderly women were selected randomly from slum areas for this study. Interview schedule was used for data collection. The analysis of the data results in the view that there are a number of impediments in the way of receiving the pension and in approaching the concerned authorities

In the present day scenario, Naxalism has become the major internal security threat. The root causes of spread of Naxalism are poverty, unemployment, famishment and difference in the status of people in the society. Since, the dawn of the human civilisation, poorer have been ill treated and harassed by the people of higher class and when the level of suffering and harassment reached the pinnacle, people decided to take up guns under the umbrella of Naxalism. There is need to identify and address the root causes of spread of Naxalism. Government has taken up the various steps and launched various schemes with an aim to win the hearts and minds of common people. However, it is important to ensure that these benefits of government initiatives must reach the common man.

Today the threat to national sovereignty is not limited to our borders, it has reached to the core of our nation. Naxalism is gradually becoming another major source of concern. Government is taking both kinetic and non kinetic efforts to subside this devil; however states of Bihar and Jharkhand are still in the grips of this devil. It lures the people of weaker section in its gamut and portrays as their fighters. Government has been genuinely working to get misguided people on the right track of normalcy and growth. Several initiatives and schemes have been launched by the government for the upliftment of the common man. At the sametime , it is important to ensure that the benefits reaches to the right person in right time.