What Factors Influence the Increasing Dependency on Mobile Banking in Bangladesh? A Quantitative Study in Bangladesh

Abstract

Mobile Banking has expanded in Bangladesh at a rapid pace for the last two decades in Bangladesh. Mobile service providers have introduced this magical financial innovation. It’s significant to understand what factors may motivate individuals to use online banking in Bangladesh. The study aims to identify influential factors of rapid growing M-banking in Bangladesh. A quantitative study based on a survey was adopted with 200 mobile banking users was selected as participants for the study. Participants think a wide variety of m-banking features with easy access and use plays a significant role in surging the system. The covid-19 pandemic has also increased people's dependency on m-banking. Apart from that, m-banking authorities have no direct contact with its customers. Safety, large amount of money transactions, deposit and profit limit features and reduced charges are all factors that would attract more customers in the coming days. Banks can presently provide managing an account administration to the country and unbanked populaces through portable phones. Around 54% of respondents opinioned that this framework is less exorbitant and timesaving and 63% of respondents felt believe in this benefit. 83% of respondents consider it is simpler to get to, but this benefit isn't accessible for interbred transactions, as well as the nonattendance of an administrative system may lead to cash washing exercises.