Mobile Banking

Internet banking refers to an online facility which provides an alternative channel for delivering banking or financial services and enables individuals to access their accounts anytime and anywhere through a bank’s web site (Z. Liao, Z., and M. T. Cheung, 2012). In other words, online banking named as E-banking, internet banking or virtual banking. Generally, the operation of online banking is connect to the core banking system designed by bank and then contrast to branch banking which refer to traditional way of bank customers accessed to banking services. Nowadays, internet banking is one of the most important businesses in electronic business around the world (Ariff et al, 2012). Most of the conventional banks have to operate and provide the online banking service to their customers as needs by

According to the most recent Federal Reserve study; most of us haven’t set foot in a banking hall in ages. It is a lost battle to banks that opt to use traditional methods to conduct their banking transactions (Gup 2003). By December of last year, close to half of all smartphone users in the United States had transacted some or all of their banking on their phones and iPhones. In the United Kingdom alone, rates of mobile banking transactions doubled over the course of a single year (Scn Education 2001). A banking business that invests in this type of technology gets assured of increasing their customer base.

Many previous academic studies (Wang et al., 2003; Agarwal et al., 2000; Venkatesh, 2000) have well documented the extent to which perceived self-efficacy is vital in Information System (IS). Perceived self-efficacy presents itself as being a major risk-factor in predicting sustainability of a new technology (Ellen et al., 1991). In the context of M-banking, perceived self-efficacy is defined as the “judgement of one’s ability to use mobile banking” (Venkatesh, 2000). Agarwal et al., (2000) state that there is empirical evidence to support the casual relationship between perceived self-efficacy and behavioural intention. However, among mobile banking adoption researches, Brown et al. [2003] supported self-efficacy was

. Mobile services not only offer a new, convenient channel for existing customers of banks, the technology will also provide access to 3 Bnstrong global unbanked population

Aijaz ,Shaikh & Karjaluoto (2014) carried out a literature review on mobile banking adoption. In their research report journal they acknowledged that e-commerce continues to play a significant role in the international business environment. They further stated that technologies and applications now focus more on mobile commerce, mobile computing among others. Consequently, mobile banking has been considered an instrumental channel of distribution and therefore research focus on its adoption. By the year 2017 there is a prediction that over 1 Billion people will be using mobile banking globally which is a representation of 15% of the overall number of mobile users. Statistics also indicate that around half of the overall number of mobile subscribers is unbanked. This therefore indicates growth opportunities for the banks and a current slow trend in adoption of the mobile banking application.

The Harvard Business School case study Mobile Banking for the Unbanked explores two very different examples of mobile financial service models:

The use, acceptance, adoption and application of internet technology to businesses to boast their performances are not something new. Saffu et al., (2008), states that there has been a significant increase in the use and application of e-commerce in businesses in the past decade. E-commerce has benefits such as reduction in costs, increased business opportunities, reduced lead time and providing more personalized service to the customers (Turban et al., 2008). Internet banking or e-banking is one of the many tools of e-commerce adopted by the banking industry. Tools of information technology such as internet banking have significantly improved the quality of services offered by the banking

I am a student from the Faculty of Computer Science and Information Technology in Kampala International University. You are kindly requested to participate in answering the following questions, which will be used in establishing the adoption process of Internet banking in Unguka bank. Any information provided will be used for academic purposes only. Please feel free to express your thoughts.

Across Latin America, about one-third of personal banking customers are adopting, and using regularly, online banking, and an even newer digital banking channel, mobile banking. The percentage doing so, varies country to country. Yet not every bank is performing equally. Finalta benchmarking studies have set out to uncover how some banks, during the past three years, have managed to increase their digital advantage over the laggards, being left behind.

Here the critical review of a research article, taken from a reputable published and refereed journal i.e, “INFLUENCING FACTORS FOR THE ADOPTION OF MOBILE OFFICE SERVICES: EMPIRICAL INVESTIGATION AMONG SALES WORKERS” written by Jin-Bo Sim and You-Jin Kim,Creative Future Research Laboratory, Electronics and Telecommunications Research Institute, Korea. It is observed a major amount of variation in consumer expectations from the available resources (ETRI, 2010). The authors were keen in identifying the factors behind this scenario. It was all about the smart concepts of IT and portability with security.

Characteristics in the Banking Environment: Positive and Negative Impact of Information Technology in Banking: Trends in Banking: How Sectors can affect Banking and Technology: Works Cited:

Introduction Mobile Commerce – Business Context Mobile Commerce Strategy Mobile Channel Strategy Mobile Marketing Mobile Sales Mobile Service Mobile Payment Mobile Wallets Mobile Commerce Transaction Mobile Banking and Mobile Money Mobile Commerce Transformation Roadmap Mobile Commerce – Payment Business Scenarios Card based Mobile User to Business – Payments (CM2B) Mobile – Wallet – User to Business – Payments (M2B) Mobile – Wallet Mobile Users to Mobile User – Payments (M2M) – Remittance Services Mobile – Wallet CrossBorderM2M Mobile – Wallet Cross Border M2Account. Mobile Commerce – Payment Processing Models Card based

The concept of flow has been proposed recently as a critical construct for gaining an insight into the consumer experience. (Bilgihan, 2012; Kim and Han, 2014; Wang et al., 2015). Although extensively covered within marketing research, only a limited number of studies have investigated the flow experience within the mobile banking (m-banking) setting. The current study investigates the concept associated with online consumer experience (flow) alongside the role it plays in affecting consumers’ repeated intentions towards mobile banking services. Flow is a fun-filled experience, which individuals feel while participating fully in activities (Hung et al., 2012), and acts as a base for investigating customers’ online experiences (Novak et al., 2000). This study tries to identify experience (flow) antecedents in mobile banking services from the perspective of developing countries in Middle East, and the Gulf region in particular.

The banking industry also involves the practice of offering varied products which are necessary to ensure that they are able to maintain the advantage in a highly competitive field and the globalization has brought in different players who are vying for the same number of customers and this forces the banks and financial institutions to look for various avenues to meet the customer needs. However, it needs to be understood that the Automatic Teller Machines (ATMs) had the most penetration in the environment in comparison to other measures like phone banking, mobile banking, and internet banking. There has been an exodus of offers with which the banks have penetrated in the economy and this sea change has been made possible by the availability of technology. However, there is a still a percentage of customers who would believe in the concept of conventional banking in comparison to the modern banking methods which are confusing and at times intrusive for the conventional customer who would still rely on the bricks and mortar banking system which works on hard physical currency being transacted over the counter. (Yaha and Laura, 1990)

The scale at which Mobile banking has the potential to grow can be gauged by looking at the pace users are getting mobile in these big Asian economies. The explosion as most analysts say, is yet to come as India has about one of the biggest untapped markets, China and South Korea all three of these countries have seen gradual roll-out of mobile banking services, the most aggressive being Korea which is now witnessing the roll-out of some of the most advanced services like using mobile phones to pay bills in shops and restaurants.