Displaying items by tag: Client

In a competitive setup, by definition, many firms contend for a limited market share. In the financial sector, in particular, competition greatly affects consumers’ wealth and financial soundness of banks (Bikker and Bos, 2005). The competition also affects the quality and diversity of products and productive efficiency of financial institutions (Claessens and Laeven, 2005). In the globalized microfinance industry, where competition has become increasingly severe, especially among the MFIs in Tanzania and East Africa at large.

Financial management has often been regarded as an elite sector of banking, however, as financial institutions step into the 21st century by focusing on implementing new-age technologies, it sometimes seems that delivering a superior experience to high net worth investors has taken a back seat.

The financial sector for quite a number of days had been going through the challenge in its operations and management. the reason being many of its issues especially by the Microfinance and the micro-credit Institutions operating manually. These institutions together with their clients faced a problem of losing accurate data at some point. This brought about a bad image of mistrust in these small scale financial institutions despite the fact that they play a huge role in dealing with economic development.