Customer Perception Towards Mobile Banking with Special Reference to India
CUSTOMER PERCEPTION TOWARDS MOBILE BANKING WITH SPECIAL REFERENCE TO INDIA
Purpose: The objective of this paper is to study customer perception towards mobile banking and finding important factors in India.
Design/Methodology/Approach: The research methodology is largely based on extensive literature review and is based on exploratory research followed by descriptive analysis. The data collected thorough questionnaire, which is based on both open ended and closed ended questions. The questionnaire is based on Likert scale. The data is analyzed through Factor analysis.
Findings: The important factors that affect the perception of customers towards mobile banking are convenience, security, faith on traditional banking and awareness.
Research limitation/implications: This study is based on the data collected form major metro cities of India. The study is based on customers availing the mobile banking services. The findings of the paper cannot be generalized, as the sampling technique is non-probability sampling.
Practical implications: The results of this paper will encourage mobile banking service providers to strengthen the security policy and provide augmented services to attract new customers.
Paper Type: Research Paper
Key Words: Mobile Banking; Customer Perception; Factor Analysis; India
INTRODUCTION
In recent years, the technological developments in information technology have lead to the evolution of a new concept in Banking Industry i.e. Mobile banking. Mobile banking is defined as the “type of execution of financial services in the course of which – within an electronic procedure – the customer uses mobile communication techniques in conjunction with mobile devices” (Pousttchi and Schurig 2004). Moreover, it is defined as “a channel whereby the customer interacts with a bank via a mobile device, such as a mobile phone or personal digital assistant” (Barnes and Corbitt 2003, Scornavacca and Barnes 2004). The evolution of Mobile
Purpose: The objective of this paper is to study customer perception towards mobile banking and finding important factors in India.
Design/Methodology/Approach: The research methodology is largely based on extensive literature review and is based on exploratory research followed by descriptive analysis. The data collected thorough questionnaire, which is based on both open ended and closed ended questions. The questionnaire is based on Likert scale. The data is analyzed through Factor analysis.
Findings: The important factors that affect the perception of customers towards mobile banking are convenience, security, faith on traditional banking and awareness.
Research limitation/implications: This study is based on the data collected form major metro cities of India. The study is based on customers availing the mobile banking services. The findings of the paper cannot be generalized, as the sampling technique is non-probability sampling.
Practical implications: The results of this paper will encourage mobile banking service providers to strengthen the security policy and provide augmented services to attract new customers.
Paper Type: Research Paper
Key Words: Mobile Banking; Customer Perception; Factor Analysis; India
INTRODUCTION
In recent years, the technological developments in information technology have lead to the evolution of a new concept in Banking Industry i.e. Mobile banking. Mobile banking is defined as the “type of execution of financial services in the course of which – within an electronic procedure – the customer uses mobile communication techniques in conjunction with mobile devices” (Pousttchi and Schurig 2004). Moreover, it is defined as “a channel whereby the customer interacts with a bank via a mobile device, such as a mobile phone or personal digital assistant” (Barnes and Corbitt 2003, Scornavacca and Barnes 2004). The evolution of Mobile
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