The findings of the studyprovide some useful areas for the banks to increase the usage of one of theirSelf Service Technology channel i.e. mobile banking.
The empirical findingsabout the consumer traits impacting intention to use mobile banking hasimplications for strategy making by the Banks.Mobile Banking provides avariety of facilities but as evident from the results depicted in table 2 onlya handful of them have been used by more than 59% of the respondents eg shopping, Payment of bills, mobile phonerecharge and mini bank statement (balance enquiry). Many useful facilities likeopening/closing of the Fixed deposits, placing order for the demand draft havevery low usage among respondents.
(5% or less). Banks can work towards creatingawareness about the variety of services available through this channel whichcan increase the usage of this channel.Also its evident from theresults that the education level and Income level also impacts the intention touse mobile banking. So research by the banks on how to increase the usage ofthis channel by consumers of varied education level and different Incomebackground.The statistical results supportthe role of Self Efficacy, Hedonic Motivation and Technology Trust in thebehavioural intention to use the mobile banking technology of banking clients.Therefore banks should focus on aspects related to these factors to motivatetheir clients to use this channel. Various marketing actions (personalcommunications, advertising etc.) can be used to motivate the customers.
Self-efficacy has been foundto be important determinant of intention to use mobile banking. Banks cantie-up with wireless service providers to increase capability of prospectiveconsumers so it is comfortable for them to use mobile banking channel. Bankscan also have a free trial mobile banking service or a similar platform inorder to give experience to customers. Step-by-step guidance or demo videoswould also help in this regard.As the results point outHedonic Motivation impacts the intention to use mobile banking. This supportsthe fact that the likelihood of adoption of Mobile Banking as a banking channelwill reach high levels among the Bank clients if its perceived to be enjoyableand entertaining.
Indian economy is one of the fast growing economies andpeople with smartphone accessibility is also increasing. Mobile banking doesprovide an added value to banking customers in the form of anytime –anywherebanking and hedonic motivation positively influences the intention to use thisself service technology. A smart and creative interface which can becustomized to consumer preferences canadd to hedonic motivation.The results also point out tothe importance of Technology Trust in mobile banking. Mobile banking isconfronted with challenges like trust in this wireless technology. Thereforebanks have to ensure that the transactions using mobile banking channel aresecure and safeguards the privacy of the customers.
And also it should bereflected in bank’s policies and processes. This will create a positive impacton the customer’s perception towards mobile banking. There should be emphasison transaction assurance and transparency of this channel. An effectivestrategy which educates the customers about the wireless internet services and generatesawareness about the security of this technology will help banks increase theircustomer database for mobile banking.Managers have to consider howto promote the usefulness of this banking channel as well as create a positiveattitude towards it by reinforcing the integrity of their banks.