Abstract
Mobile-banking (m-banking) services, which are primarily engaged over Short Messaging Service (SMS) or tunneling General Packet Radio Service (GPRS) (or in some cases through Unstructured Supplementary Service Data (USSD), have enabled provisions of several financial services including intra- and interbank funds transfers and other merchant services. M-banking services reduce temporal and spatial constraints through internet-enabled mobile devices such as smart-phones. In the United Arab Emirates (UAE), the adoption of m-banking is still in its infancy and the statistics are low compared to Europe and North America. Although smartphones are the most dominant form of communications in the UAE, m-banking penetration has been relatively low. Using three constructs to develop a web-based survey instrument, a structured equation modeling (SEM) technique was implemented to assess the correlation between the extended Technology Acceptance Model (TAM) constructs with m-banking adoption. The results indicated that perceived ease, trust, credibility, and usefulness were significant predictors of m-banking adoption in the UAE. The revealing component of users in each of the Emirates representing the UAE was outside the focus of this study while focus on UAE consumers irrespective of their residents in the country. The findings of this study will provide financial institutions the critical information to help expand m-banking services especially in the UAE. In addition, this study may contribute to social changes in ameliorating the lack of effective customer service.
Highlights
Most banks in the United Arab Emirates (UAE) and across the Middle East are investing in information and communication (ICT) assets involving social media, banking, introduction of smart branches, and launching of mobile banks [1]
We found that the correlations between mbanking adoption and all Technology Acceptance Model (TAM) constructs were significant, except for the correlation between m-banking adoption and CT, which was weak even though significant
This study is strategic as it reveals the likelihood that mobile banking adoption requires a lot of appeal to consumers and provides sufficient value
Summary
Most banks in the United Arab Emirates (UAE) and across the Middle East are investing in information and communication (ICT) assets involving social media, banking, introduction of smart branches, and launching of mobile banks [1]. M-Banking includes the usage of mobile devices, such as smart-phones, tablets, in carrying out financial transactions and communications between financial institutions and their clientele. As a recent study, [3] pointed out - in order to facilitate financial transactions between two parties, mbanking services can be accessed through an application on a mobile device that is installed on the subscriber identity module (SIM) card of the device. Improved mobile banking may provide potential, reliable, and confidential services to individuals residing in areas where internet access is limited [4]
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