Technology Adoption, Innovation and Financial Performance among Commercial Banks in Kampala, Uganda (Zenodo)

Summary

• Structured questionnaires were distributed to 161 bank employees and management staff.p.1
• Technology adoption and innovation show a strong positive correlation with financial performance (r = 0.696, p < 0.01).p.1
• The average mean score across statements was 3.88, reflecting general satisfaction with technological strategies.p.1
• The statement that new technologies improved the bank's financial performance received the highest mean score of 4.11.p.1
• Technology adoption and innovation explained 48.4% of the variance in financial performance.p.1
• Of 165 questionnaires distributed to a target population of 280 staff, 161 were usable, a response rate of 97.6%.p.9

Key insights

1. The R-squared value of 0.484 indicates that 48.4% of the variance in financial performance is explained by technology adoption and innovation.p.15
2. A one-unit increase in technology adoption and innovation is associated with a 0.402-unit increase in financial performance.p.16
3. High implementation costs, cybersecurity risks and legacy-system integration continue to hinder smaller banks from digital transformation.p.3