The findings of the study
provide some useful areas for the banks to increase the usage of one of their
Self Service Technology channel i.e. mobile banking. The empirical findings
about the consumer traits impacting intention to use mobile banking has
implications for strategy making by the Banks.
Mobile Banking provides a
variety of facilities but as evident from the results depicted in table 2 only
a handful of them have been used by more than 59% of the respondents eg shopping, Payment of bills, mobile phone
recharge and mini bank statement (balance enquiry). Many useful facilities like
opening/closing of the Fixed deposits, placing order for the demand draft have
very low usage among respondents. (5% or less). Banks can work towards creating
awareness about the variety of services available through this channel which
can increase the usage of this channel.
Also its evident from the
results that the education level and Income level also impacts the intention to
use mobile banking. So research by the banks on how to increase the usage of
this channel by consumers of varied education level and different Income
The statistical results support
the role of Self Efficacy, Hedonic Motivation and Technology Trust in the
behavioural intention to use the mobile banking technology of banking clients.
Therefore banks should focus on aspects related to these factors to motivate
their clients to use this channel. Various marketing actions (personal
communications, advertising etc.) can be used to motivate the customers.
Self-efficacy has been found
to be important determinant of intention to use mobile banking. Banks can
tie-up with wireless service providers to increase capability of prospective
consumers so it is comfortable for them to use mobile banking channel. Banks
can also have a free trial mobile banking service or a similar platform in
order to give experience to customers. Step-by-step guidance or demo videos
would also help in this regard.
As the results point out
Hedonic Motivation impacts the intention to use mobile banking. This supports
the fact that the likelihood of adoption of Mobile Banking as a banking channel
will reach high levels among the Bank clients if its perceived to be enjoyable
and entertaining. Indian economy is one of the fast growing economies and
people with smartphone accessibility is also increasing. Mobile banking does
provide an added value to banking customers in the form of anytime –anywhere
banking and hedonic motivation positively influences the intention to use this
self service technology. A smart and creative interface which can be
customized to consumer preferences can
add to hedonic motivation.
The results also point out to
the importance of Technology Trust in mobile banking. Mobile banking is
confronted with challenges like trust in this wireless technology. Therefore
banks have to ensure that the transactions using mobile banking channel are
secure and safeguards the privacy of the customers. And also it should be
reflected in bank’s policies and processes. This will create a positive impact
on the customer’s perception towards mobile banking. There should be emphasis
on transaction assurance and transparency of this channel. An effective
strategy which educates the customers about the wireless internet services and generates
awareness about the security of this technology will help banks increase their
customer database for mobile banking.
Managers have to consider how
to promote the usefulness of this banking channel as well as create a positive
attitude towards it by reinforcing the integrity of their banks.