Factors Influencing Behavioral Intention to Adopt Mobile Banking: With Special Reference to Gampaha District Sri Lanka

Abstract

Mobile phones have created a platform to expand commercial transactions and it has created a wide array of business opportunities. With the emerge of mobile commerce, the concept of mobile banking has emerged. Mobile banking offers ubiquitous and hassle-free access for banking customers. Nevertheless, it has been observed that Sri Lankan banking customers are sometimes cautious to conduct their financial activities through mobile devices. Therefore, this research study has been carried out with the objective of identifying the factors influencing behavioral intention to adopt mobile banking with special reference to Gampaha district, Sri Lanka. The dependent variable of this research study is the behavioral intention towards mobile banking adoption and the dimensions of the independent variable includes perceived usefulness, perceived ease of use, relative advantage, perceived risk and compatibility. 310 mobile banking users in the Gampaha district has been utilized as the sample for this study and data collection has been performed through an online questionnaire. Both quantitative method and deductive approaches were utilized to identify the determinants that influence on behavioral intention. Regression analysis has been conducted to analyze data and the results indicate that perceived usefulness, perceived ease of use, relative advantage and compatibility depicts a positive and significant impact on behavioral intention towards mobile banking adoption of customers. On the contrary, perceived risk depicts a negative and significant impact on behavioral intention. Therefore, banks should align their product offerings to the needs of their customers in the process of developing mobile banking products. It will be much more convenient to provide banking customers with a service in order to deliver a superior value and retain them in the long run.