MCDM Technique to Evaluating Mobile Banking Adoption in the Togolese Banking Industry Based on the Perceived Value : Perceived Benefit and Perceived Sacrifice Factors

Abstract

Development of new technological innovations in networks, platforms, and financial institutions has empowered m-banking service providers to target their business strategies plan with confidence. Nevertheless, lots of service innovations have failed to generate revenue due to lagging adoption issues. Even though, several prior researches have focused on the factors that influence the acceptance of mbanking, there is limited empirical study which simultaneously take the success factors (perceived benefit) and resistance factors (perceived sacrifice) that contribute to the customers adoption of m- banking. Furthermore, most previous researches investigate on the overall aspects related to the adoption of mobile banking, have used multiple regression methods (structural equation modeling or technology acceptance technique) or some MCDM tools. However, these studies still have some shortcoming due to lack of delivering the enough information about these factors and their prioritizing facets. Nowadays, only those organizations which major goal is to achieve customer’s expectations with maximum quality can be successful in the market environment. This research reviewed the literature, took the advice from the experts in the field of m-banking service, and constructed the structural hierarchical table of the factors that affecting perceived value on consumers' adoption of mobile banking. Via a pairwise comparisons scale, a questionnaire designated was distributed to some university students in Lome-Togo and later used AHP (Analytic Hierarchy Process) to weigh each criteria, sub-criteria and alternative in order to rank them according to their preference. The finding revealed that financial risk is the utmost factor impacting the m-banking adoption, follow by money saved element. Both factors explain how consumers are more concerned with the financial or monetary issues and far ahead Security & Privacy risk come to confirm that, Togolese Banking industry should guarantee the safety and personal detail issues when customers are dealing with this m-banking technology. This research contributes to the existing literature by providing new insights to how AHP can be applied to assess consumer’s preference in m-banking in a developing country. Moreover, knowledge acquire from the influential factors will enable firms to better exploit their scarce resources, by formulating management strategies based on the priorities of these factors, and consequently, satisfy consumer needs and wants at lower cost while greater efficiency should be promoted.