Abstract
Nowadays, mobile banking apps are becoming an integral part of people lives due to its suppleness and convenience. Despite these benefits, yet its growth in evolving states is beyond expectations. However, using mobiles devices to conduct financial transactions involved a lot of risk. This paper aims to investigate customers’ reasons for non-usage of the new conduits in developing countries with distinct interest in Nigeria. The study adopts two methods of analysis, artificial intelligence-based methods (AI), and structural equations modeling (SEM). A feed-forward neural network (FFNN) sensitivity examination technique was used to choose the most dominant parameters of mobile banking data collected from 823 respondents. Four algebraic directories were used to corroborate the study AI-based model. The study AI results found risk, trust, facilitating conditions, and inadequate digital laws to be the most dominant parameters that affect mobile banking growth in Nigeria, and discovered social influence and service quality to have no influence on Nigerians’ resolve to use moveable banking apps. Moreover, the results proved the superiority of AI-based models above the classical models. Government and pecuniary institutes can use the study outcomes to ensure secured services offering, and improve growth. Finally, the study suggests some areas for future studies.
Highlights
Published: 31 May 2021Mobile banking is a podium in which clients access their bank reserves while on the move, at any suitable time and area, using any device
artificial intelligence-based methods (AI)-based method (ANN) was used to test the study parameters. It was first trained with all the survey parameters as network input to get an overall prediction for the proposed artificial neural network (ANN) model, and later trained with the constructs of each parameters separately in order to determine protection and privacy issues involved in Internet and other moveable banking, and to find out the factors responsible for Nigerians’ rebuff of mobile banking apps usage
The main findings are summarized based on the ANN results, due its superiority above the classic models, in this case structural equations modeling (SEM)
Summary
Mobile banking is a podium in which clients access their bank reserves while on the move, at any suitable time and area, using any device. It provides location-based dealings and other economic services like expense payments for goods or rendered services, savings, inter-account funds transfer via mobile platforms [1]. Zhang [3] stressed that there is reasonable upsurge on the quantity of smartphones usage in developed and few developing nations of the world These days, smartphones help banks to offer different kinds of services to their customers, as majority of the banks if not all are launching different forms of apps for financial dealings [4]. Mobile banking apps reduce customers’ operation time and removes geographical barriers [7], as clients can send money to their colleagues, friends, and relatives using just only the device keypad, unlike the traditional dealings that
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