Build it – Will They Come?

2010 ◽  
Vol 8 (3) ◽  
pp. 1-14 ◽  
Author(s):  
Prateek Shrivastava
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Low Cost ◽  
Financial Resources ◽  
Control Group ◽  
Mobile Banking ◽  
Extended Access ◽  
Mobile Financial Services ◽  
Working Age ◽  
Money Transfers

Globally, only a sixth of the approximately 3 billion impoverished people of working age currently have access to formal financial services, which translates to 17% coverage of the market, leaving 83% under-served. The growth of mobile telephony has been rapid and has extended access well beyond already connected customers in developing countries. This rapid growth offers a new low-cost alternative for financial institutions to make a profit while dealing with small money transfers and payments. Consumers also benefit because they no longer need time and financial resources to travel to distant banks. The successful deployment of financial services via mobile phones has shown willingness from financial service providers to develop and provide such products. However, there are major perceived and real obstacles in the willingness of consumers to adopt these products. Therefore, a need exists to understand customers’ reasons behind adopting these services. In this paper, the author proposes a model that provides a framework to empirically test the attitudes of customers toward mobile financial services via a control group conducted in 2008 using Luarn and Lin’s (2005) mobile banking adoption model.

Predicting the Attitude toward Mobile Financial Services in Developing Countries

2012 ◽  
pp. 1141-1160
Author(s):  
Prateek Shrivastava
Keyword(s):  
Quality Of Life ◽  
Low Income ◽  
Financial Services ◽  
Group Analysis ◽  
Perceived Usefulness ◽  
Control Group ◽  
Mobile Banking ◽  
Mobile Financial Services ◽  
Working Age

Globally, only about a sixth of the 3 billion poor people of working age currently have access to formal financial services. This translates to 17% coverage of the market, leaving 83% under-served or “unbanked”. Addressing the needs of these people is the “self-sustaining approach” to microfinance. Mobile banking is one of the newest approaches to the provision of financial services made possible by the widespread adoption of mobile phones in low income countries. However, reports show that potential users may not be using these systems despite already being available. This study was conducted in 2008. It extends the Luarn & Lin mobile banking adoption model by adding two additional constructs: “Enhancement of image” and the “enhancement of quality of life by having access to financial service” to test the attitude toward mobile banking. In order to test these constructs, 11 hypotheses are proposed. The chapter successfully applies Luarn & Lin’s model in a new geographic and economic context. Consistent with their study, perceived usefulness, perceived credibility, perceived ease of use and perceived self-efficacy were found to be significant antecedents. Perceived financial costs, however, was found to have a positive relationship with attitude. This finding is diametrically opposite to Luarn & Lin’s study. Perceived enhancement to quality of life showed a strong relationship and Perceived enhanced image showed a weak relationship with the attitude toward mobile banking. The control group analysis showed the previously unbanked group (Mzansi) had the highest expectation of mobile banking and also found the idea most attractive. This study therefore concludes that mobile banking can indeed be a channel to reach out to low income groups.

Predicting the Attitude toward Mobile Financial Services in Developing Countries

2010 ◽  
pp. 112-131 ◽  
Author(s):  
Prateek Shrivastava
Keyword(s):  
Quality Of Life ◽  
Low Income ◽  
Financial Services ◽  
Group Analysis ◽  
Perceived Usefulness ◽  
Control Group ◽  
Mobile Banking ◽  
Mobile Financial Services ◽  
Working Age

Globally, only about a sixth of the 3 billion poor people of working age currently have access to formal financial services. This translates to 17% coverage of the market, leaving 83% under-served or “unbanked”. Addressing the needs of these people is the “self-sustaining approach” to microfinance. Mobile banking is one of the newest approaches to the provision of financial services made possible by the widespread adoption of mobile phones in low income countries. However, reports show that potential users may not be using these systems despite already being available. This study was conducted in 2008. It extends the Luarn & Lin mobile banking adoption model by adding two additional constructs: “Enhancement of image” and the “enhancement of quality of life by having access to financial service” to test the attitude toward mobile banking. In order to test these constructs, 11 hypotheses are proposed. The chapter successfully applies Luarn & Lin’s model in a new geographic and economic context. Consistent with their study, perceived usefulness, perceived credibility, perceived ease of use and perceived self-efficacy were found to be significant antecedents. Perceived financial costs, however, was found to have a positive relationship with attitude. This finding is diametrically opposite to Luarn & Lin’s study. Perceived enhancement to quality of life showed a strong relationship and Perceived enhanced image showed a weak relationship with the attitude toward mobile banking. The control group analysis showed the previously unbanked group (Mzansi) had the highest expectation of mobile banking and also found the idea most attractive. This study therefore concludes that mobile banking can indeed be a channel to reach out to low income groups.

Mobile investment technology adoption among investors

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Lu Fan
Keyword(s):  
Technology Adoption ◽  
Financial Services ◽  
Diffusion Of Innovations ◽  
Mobile Apps ◽  
Investment Decision ◽  
Risk Tolerance ◽  
Content Type ◽  
Investment Decision Making ◽  
Mobile Financial Services ◽  
Money Transfers

PurposeThe purpose of this study is to examine investors' internal characteristics, including investment literacy, risk tolerance and familiarity with mobile financial services, as antecedents of mobile investment technology adoption among American investors.Design/methodology/approachUsing the 2018 National Financial Capability Study and its supplemental Investor Survey, this study examined antecedents, including investors' internal characteristics, in relation to mobile investment technology adoption. Nested logistic regression analyses were performed for adopting mobile apps for investment decisions and for investment trading.FindingsThis study found that objective and subjective investment knowledge, experience using mobile banking for payments and money transfers, and certain ownerships of investment vehicles (such as whole-life insurance policies and ETFs) were significant determinants of mobile investment decision-making. On the other hand, subjective investment literacy, risk tolerance, familiarity with mobile financial services, and portfolio value, as well as certain types of investment vehicles were significantly associated with mobile investment trading.Originality/valueThis study is among the first to examine investors' investment literacy, risk tolerance and familiarity with mobile financial services as investors' internal characteristics in relation to mobile investment technology adoption. The diffusion of innovations theory and related concepts provide theoretical support for this study. The findings provide new insights into mobile investing as an emerging FinTech subject and provide implications for practitioners and FinTech developers, as well as contribute to the literature of mobile investment service adoption among retail investors.

scholarly journals Factors Influencing Users’ Behavioral Intention to Reuse Mobile Financial Services in Bangladesh

2020 ◽  
Vol 5 (3) ◽  
pp. 155-169
Author(s):  
Md. Rizvi Khan ◽  
Sirion Chaipoopirutana
Keyword(s):  
Behavioral Intention ◽  
Financial Services ◽  
Behavioral Intentions ◽  
Ease Of Use ◽  
Perceived Usefulness ◽  
Survey Method ◽  
Mobile Banking ◽  
Perceived Ease Of Use ◽  
Factors Influencing ◽  
Mobile Financial Services

Objective – This paper aims to empirically examine the factors influencing the users’ behavioral intention to reuse mobile technology to facilitate their financial services in Bangladesh. Methodology/Technique – A self-administered online survey method was used and 400 responses were collected with Likert-type questions using Google Forms as a medium. A model was developed and proposed based on different technology acceptance models like TAM, UTAUT and similar studies on factors influencing users’ intention to adopt and reuse mobile financial services in Bangladesh. The proposed model was tested by performing simple and multiple linear regression using SPSS software. Findings – The results show that perceived ease of use influences perceived usefulness of mobile financial services but perceived ease of use, perceived usefulness and security have no influence on trust in terms of behavioral intention to reuse mobile financial services in Bangladesh. However, with the exception of trust and perceived financial cost, the remaining variables such as perceived usefulness, perceived ease of use, security, perceived risk, social influence and facilitating conditions significantly influence behavioral intentions to reuse mobile financial services in Bangladesh. Novelty - This study examines crucial factors spotted in literature in the context of Bangladesh. Earlier papers have primarily focused on traditional banking clients’ behavioral intention toward their bank’s mobile banking facilities in Bangladesh. This paper is comprehensively designed to identify influential factors of reusing non-traditional mobile financial services like bKash, Rocket, Nagad etc. at the growth level in the industry of Bangladesh. The researcher tried to identify factors influencing both bank and non-bank users to reuse mobile financial services for their digital transactions. Type of Paper: Empirical. JEL Classification: M31, M39. Keywords: bKash; Bangladesh; Mobile Banking; Behavioral Intentions; Reuse; Mobile Financial Services. Reference to this paper should be made as follows: Khan, M.R; Chaipoopirutana, S. 2020. Factors Influencing Users’ Behavioral Intention to Reuse Mobile Financial Services in Bangladesh, J. Mgt. Mkt. Review 5(3) 155 – 169. https://doi.org/10.35609/jmmr.2020.5.3(4)

Mobile Financial Services

2020 ◽  
pp. 96-119
Author(s):  
Alexander Maina Kimari ◽  
Eric Blanco Niyitunga
Keyword(s):  
Financial Services ◽  
Developing World ◽  
Service Providers ◽  
Customer Experience ◽  
Financial Service ◽  
Financial Inclusion ◽  
The Poor ◽  
Financial Exclusion ◽  
Mobile Financial Services

The chapter explores financial exclusion, its causes, and consequences in society. The chapter found that the existing discrepancy in financial inclusion between the developed and developing world is driven by financial exclusion that makes it difficult for financial service providers to expand outreach to the poor at affordable prices. The chapter aims to investigate the role of mobile financial service design and development in dealing with financial exclusion. It was found that mobile financial services are promoting financial inclusion in various markets. However, few studies have been undertaken on the benefits of mobile financial services in dealing with the high rates of financial exclusion. The chapter recommended that to achieve financial inclusion, there is need for mobile financial services providers to take into account customer experience through the ease of using the phone interface. The chapter concluded that there is need for scholars in the fields of finance and economics to conduct research in the areas of mobile financial services and their role in society.

scholarly journals A study of the factors affecting mobile money penetration rates in the West African Economic and Monetary Union (WAEMU) compared with East Africa

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Sionfou Seydou Coulibaly
Keyword(s):  
East Africa ◽  
Financial Services ◽  
West African ◽  
Social Categories ◽  
Factors Affecting ◽  
Mobile Money ◽  
Level Data ◽  
Mobile Financial Services ◽  
Working Age ◽  
Micro Level

AbstractAccording to the 2017 Global Financial Inclusion (Global Findex) database, the average penetration rate of mobile money accounts in East Africa is higher than that of the WAEMU. This study attempts to understand the factors driving the adoption and the use of mobile financial services in the WAEMU compared to East Africa. To achieve this, micro-level data from the 2017 Global Findex database are used to perform probit and multinomial logit estimations. The findings reveal that the same determinants influence the adoption and use of mobile money accounts across the populations of both groups of countries, specifically those related to the least vulnerable social categories (i.e., males, older, more educated, richer and part of the workforce). Therefore, in comparison to East Africa, the delay in the penetration of mobile money accounts observed in the WAEMU may be attributed to insufficient policies for increasing the awareness of the benefits of mobile financial services. The study recommends that governments in WAEMU countries promote the use of mobile money accounts among the working-age population (adults aged between 25 and 64) through the improvement of individual income level, and the introduction of incentives into the education system to encourage their population to attain higher levels of education.

Measuring the Satisfaction Levels of Mobile Financial Services Users in Bangladesh

2016 ◽  
Vol 6 (1) ◽  
pp. 24-33 ◽  
Author(s):  
Md Abdul Hai ◽  
Mohammad Masudur Rahman
Keyword(s):  
Financial Services ◽  
Total Population ◽  
Service Providers ◽  
Descriptive Statistics ◽  
Service Users ◽  
Ample Opportunity ◽  
Mobile Financial Services ◽  
User Groups ◽  
Different Dimensions ◽  
Self Administered Questionnaire

Bangladesh enjoys fast growing mobile financial services (MFS) outlook that covers only 15% of the total population which indicates an ample opportunity yet to be tapped. This study aims to examine the satisfaction levels of mobile financial services users under different dimensions using SERVQUAL instrument. A self-administered questionnaire was used to survey in Dhaka with a sample of 201 respondents of various strata and data were analyzed by using descriptive statistics and ANOVA. The findings reveal that the overall satisfaction level of the users is somewhat satisfactory. The results also show that there are significant differences in satisfaction levels among the MFS user groups in terms of service providers' commitment, speed and sincerity and these differences are insignificant in terms of service users' income and convenience. The study suggests that the services need to be more customized and developed to improve the levels of satisfaction of the users.

scholarly journals Understanding Users’ Intention to Use Mobile Financial Services: A Study in Khulna City

2019 ◽  
pp. 1-8
Author(s):  
Md. Khashrul Alam
Keyword(s):  
Technology Acceptance ◽  
Financial Services ◽  
Reasoned Action ◽  
Service Providers ◽  
Financial Service ◽  
Intention To Use ◽  
Handheld Device ◽  
Mobile Financial Services ◽  
Strong Relation ◽  
Acceptance Model

Purpose: Mobile Financial Services are such applications of mobile computing which provide customers the support that is needed to access their bank accounts and bank anywhere and anytime using a mobile handheld device such as a mobile phone. Mobile Financial Services remove space and time limitations from banking activities such as checking account balances or transferring money from one account to another. The study tries to understand users’ level of intention to use mobile financial services in Khulna city. Methodology: Data have been collected from 110 respondents out of which 35 respondents are agents and rest is from different professions. All mobile financial service users in Khulna city have been assumed as population for the study. There has been no demographic barrier for the mobile financial services users to be taken or to be given priority. A structured questionnaire has been administered among the respondents to collect the data. There are 7 variables that have been interviewed among the respondents. These variables are taken from ‘Technology acceptance model’ and ‘Theory of reasoned action’. Correlation and multiple regression analysis are applied to understand the intention of the users. Findings: The study finds that there are strong relationships among the variables. It also shows that trust has strong relation with intention to use mobile financial services. Value: Different stakeholders like mobile financial service providers, mobile operators, regulatory authorities, government and others will get benefit from the study.

Prospects and Challenges of Mobile Financial Services (MFS) in Bangladesh

2022 ◽  
pp. 320-341
Author(s):  
Dhanonjoy Kumar
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Crucial Role ◽  
Development Strategies ◽  
Mobile Banking ◽  
Payment Systems ◽  
Automatic Teller Machine ◽  
Mobile Financial Services ◽  
Online Business ◽  
Financial Transactions

Microelectronic payment systems are speedily replacing the ordinary modes of payment. Electronic payment systems require online financial transactions that utilize some digital financial devices. They have allowed government, businesses, and financial institutions to propose a multiple of payment opportunities to their customers. These payment opportunities include charge account credit, master card, mobile banking, and automatic teller machine and payments bills through the mobile. Mobile financial services (MFS) performed a crucial role within the present online business and other business and financial services performed within the busy and pandemic world. The study is empirical in nature of MFS and its implications in Bangladesh. Finally, the study presents an overview of challenges and prospects of MFS in Bangladesh, focusing on some development strategies for policy holders. Researchers propose how MFS operators solve the MFS-related problems, overcome the challenges, satisfy the customers, and increase their service.

Digital Financial Inclusion in India

2019 ◽  
pp. 195-203 ◽  
Author(s):  
Gaurav Agrawal ◽  
Pooja Jain
Keyword(s):  
Financial Services ◽  
Financial Inclusion ◽  
Mobile Banking ◽  
Banking Services ◽  
Secondary Sources ◽  
Intention To Adopt ◽  
Banking Activity ◽  
Standards Of Living ◽  
Mobile Financial Services ◽  
Technology Intervention

Financial inclusion is a multidimensional approach. With technology intervention in financial inclusion, electronic banking activity in rural India leads to increased use of financial services and better living standards. In the rising market, many people using mobile phones still are not able to access banking products and financial services. This indicates a huge untouched market for commercial banks. In India, mobile banking services are still in the early stages of development. Thus, the main objective of the chapter is to understand the factors that would act as drivers towards the adoption of mobile financial services and understand people's intention to adopt and use of mobile banking services which lead to increases accessibility towards financial products among rural people as well improve standards of living and overall development of the nation. The study focuses on utilizing secondary sources which is related to financial inclusion to understand the new banking technology and identifies people's behavior towards adoption and uses of banking services.

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