IJSRP, Volume 14, Issue 8, August 2024 Edition [ISSN 2250-3153]
Carmella TOGOGO MUGOLI, Dr. Joseph Macheru & Dr. Thomas Githui
Abstract:
In the contemporary financial landscape, the integration of technology into finance has emerged as a pivotal factor driving growth and efficiency. This study investigated the impact of Fintech services on the growth of asset management firms in Kenya. The research focused on how specific Fintech services, including Robo-advisors, mobile applications, and cybersecurity solutions, influence the operational and financial performance of these firms. A correlational research design was employed, incorporating both qualitative and quantitative methodologies to provide a comprehensive understanding of the subject matter. Data was collected from a sample of 160 managers from various asset management firms that have integrated Fintech services into their operations. The findings indicated that Robo-advisors significantly enhance investment returns and client satisfaction, with 64% of respondents reporting positive impacts on their financial performance. Mobile applications were found to be effective in increasing user engagement and transaction efficiency, with 67% of participants acknowledging their user-friendly nature and impact on client retention. Cybersecurity services were also shown to play a critical role in safeguarding client data and ensuring regulatory compliance, with 71% of respondents expressing confidence in their firm cybersecurity measures. These underscored the transformative potential of Fintech services in the asset management sector.