Abstract
This research examines the information security of adopting mobile banking and suggests maximizing information security in mobile banking in different ways. Security issues pose a threat to mobile banking adoption and diffusion. Therefore, reliable security measures and improved trust improvement are suggested to address information security in adopting mobile banking for financial services. A questionnaire survey is conducted with users of mobile banking technology. Random sampling is adopted in the study. 650 questionnaires were sent to respondents, and 303 responses were recorded. A confirmatory factor analysis with varimax rotation was conducted following correlation and multiple regression analysis to test the hypothesis of the study. The research finds that (1) perceived security and trust affect mobile banking self-efficacy and performance (SEP) of adopting mobile banking for financial services; (2) Reliable security measure and perceive trust improvement positively influence (SEP) of adopting mobile banking for financial services. This study shows the significance of user perceptions of security by inspecting the content of the security rules of mobile banking for clients’ levels. It includes the adoption of technology in financial services. Therefore, the study links the technology acceptance model (TAM) with the literature on perceived security and trust of adopting mobile banking for financial services. The research has applied to the banking industry to develop and expand its banking market by developing reliable security measures and improving the perceived trust of customers to conduct banking transactions using mobile banking technology.
Highlights
The development of internet services and technologies has influenced the activity and the executives of general business and non-business frameworks, including banking services. (Sharma, 2017)
This study shows the significance of user perceptions of security by inspecting the content of the security rules of mobile banking for clients’ levels
It is showed that the null hypotheses on the relationship between the inherent risk and security (IRS; β = 0.057) and perceived trust improvement (PTI; β = 0.027) and self-efficacy and performance (SEP) expectancy of mobile banking cannot be rejected, implying that this factor has a negative influence on self-efficacy and performance (SEP) expectancy of mobile banking
Summary
The development of internet services and technologies has influenced the activity and the executives of general business and non-business frameworks, including banking services. (Sharma, 2017). The development of internet services and technologies has influenced the activity and the executives of general business and non-business frameworks, including banking services. While traditional banking services were restricted to bank branches, telephones banking, and automated teller machines (ATMs), Mobile Banking has removed such limitations from daily banking activities. The emergence of mobile banking has multiple benefits involving low-cost financial services to the unbanked population, easier cash handling, investing in assets creation or income generation, reduced vulnerability to cash flow shocks, and strong economics by encouraging trade and markets (Chen, 2000). Bangladesh is one of the growing nationals in the world having 56 commercial banks doing business competitively through the addition of branches, ATMs, POS devices, and the internet. The COVID-19 has made the essence of mobile banking (a way of home banking) inevitable to maintain communication, shopping, banking, and many other daily activities
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