Abstract
Mobile banking services are widely adopted in developed and developing countries, while their adoption by Malaysian consumers is relatively low. The effective adoption of mobile banking mostly depends on consumers. This study’s objective was to examine the factors that influence Malaysian customers’ behavioral intention toward mobile banking. A detailed literature review was conducted in order to identify the critical factors that affect mobile banking users. The research model was based on the Technology Acceptance Model, investigating the additionally perceived risk. Primary data were collected from 384 generation Y bank customers. Structure equation modeling through Smart-PLS was used for data analysis. Results revealed that consumers’ behavioral intention was significantly and positively influenced by perceived usefulness and ease of use, while a significant negative relationship was found between consumers’ behavioral intention and perceived risk. The findings also revealed a mediating relationship of attitude between perceived usefulness, ease of use and risk, and behavioral intention to use mobile banking. The study provides appropriate guidelines to Malaysian banks and mobile banking application developers for the effective implementation and design of mobile banking services.
Highlights
Mobile banking is defined as any form of banking transaction that is carried out through a mobile device [1]
Malaysia is among the fastest growing mobile and telecommunications technology countries in Asia, and the proportion of smartphone users continues to rise from 68.7% in 2016 to 75.9% in 2017, indicating a sharp increase in their penetration rate [12]
Results showed that the proposed model was able to reach an acceptable level of predictive power for all factors, as all the criteria related to the measurement model, i.e. construct reliability and validity, were met
Summary
Mobile banking is defined as any form of banking transaction that is carried out through a mobile device [1]. Mobile banking is widespread in developed and developing countries, such as the US [3], the UK [4], China [5], India [6], Pakistan [7, 8], Malaysia [9] and Iran [10]. Juniper research estimated that more than 2 billion mobile users would use their devices for banking by the end of 2021, compared to 1.2 billion people in 2016 [11]. Malaysia is among the fastest growing mobile and telecommunications technology countries in Asia, and the proportion of smartphone users continues to rise from 68.7% in 2016 to 75.9% in 2017, indicating a sharp increase in their penetration rate [12]. Developments in technology and mobile banking applications attracted gradually more users by time, but Malaysian customers show less attention and
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