Banking Apps Research Articles

Customer satisfaction analysis with Saudi Arabia mobile banking apps: a hybrid approach using text mining and predictive learning techniques

Customer satisfaction analysis with Saudi Arabia mobile banking apps: a hybrid approach using text mining and predictive learning techniques

Enhancing user adoption and satisfaction: A study of factors influencing CliQ payment service in the fintech market

This study explores the factors affecting CliQ payment service adoption in Jordan as it represents a major shift in the Jordanian market to Fintech and mobile marketing. This study presented a distinctive model by integrating the “unified theory of acceptance” and the “technology acceptance model” TAM with the “use of technology UTAUT” to measure the behavioral intention of consumers and the satisfaction of the users towards utilizing the CliQ service. The study measured the linkage between four predictors (perceived usefulness, social influence, perceived ease of use, and financial risk) as well as both utilizers’ intention to CliQ service usage and utilizers’ satisfaction with using the service, along with observing the association between these predictors to determine their contribution to the users’ satisfaction mediated by the users’ intention to utilize the service mentioned above. A survey instrument was distributed to 604 respondents, and it was developed and validated by academics, as a pilot test. As well as a pre-test. Hypotheses were tested with multiple linear regression analysis using SmartPLS software to interpret path coefficients, and reliability and validity within the outer model were tested through correlation analysis. Additionally, internal consistency was explored by applying Cronbach’s alpha. The outcomes proved that the predictors significantly affect both utilizers’ behavioral attitudes and satisfaction with using the CliQ service, except for financial risk. The data analysis also indicated a significant indirect influence of all the independent variables on utilizers’ satisfaction through behavioral intention to utilize the CliQ service, except for financial risk, which had an insignificant indirect influence on utilizers’ satisfaction through behavioral intention for service usage. The findings of the current article close the gap found in the literature concerning measuring usability to enhance user satisfaction and adoption of Fintech services. Therefore, bank managers and policy planners can find insights for developing and improving mobile banking apps.

Continuous Use of Mobile Banking Applications: The Role of Process Virtualizability, Anthropomorphism and Virtual Process Failure Risk

Aim/Purpose: The research aims to investigate the factors that influence the continuous use of mobile banking applications to complete banking monetary transactions. Background: Despite a significant increase in the use of mobile banking applications, particularly during the COVID-19 pandemic, new evidence indicates that the use rate of mobile banking applications for operating banking monetary transactions has declined. Methodology: The study proposed an integrated model based mainly on the process virtualization theory (PVT) with other novel factors such as mobile banking application anthropomorphism and virtual process failure risk. The study model was empirically validated using structural equation modeling analysis on quantitative data from 484 mobile banking application users from Jordan. Contribution: The study focuses on continuing use or post-adoption behavior rather than pre-adoption behavior. This is important since the maximum and long-term viability, as well as the financial investment in mobile banking applications, depend on regular usage rather than first-time use or initial experience. Findings: The results indicate that process virtualizable and anthropomorphism have a strong positive impact on bank customers’ decisions to continue using mobile banking applications to complete banking monetary transactions. Meanwhile, the negative impact of virtualization process failure risk on continuous use has been discovered. The found factors explain 67.5% of the variance in continuous use. Recommendations for Practitioners: The study identified novel, significant factors that affect bank customers’ decisions to use mobile banking applications frequently, and these factors should be examined, matched, satisfied, or addressed when redesigning or upgrading mobile applications. Banks should provide users with clear directions, processes, or tutorials on how to complete monetary transactions effectively. They should also embrace Artificial Intelligence (AI) technology to improve their applications and products with anthropomorphic features like speech synthesizers, Chatbots, and AI-powered virtual bank assistants. This is expected to help bank customers conduct various banking services conveniently and securely, just as if interacting with real people. The study further recommends that banks create and publish clear norms and procedures, as well as promote tolerance and protect consumers’ rights when the process fails or mistakes occur. Recommendation for Researchers: The study provides measurement items that were specifically built for the context of mobile banking applications based on PVT notions. Researchers are invited to reuse, test, and modify existing measurement items, as well as submit new ones if necessary. The study model does not consider psychological aspects like trust and satisfaction, which would provide additional insight into factors affecting continuing use. Researchers could potentially take a different approach by focusing on user resistance and non-adoption. Impact on Society: Financial inclusion is problematic, particularly in underdeveloped nations. According to financial inclusion research, Jordanians rarely utilize mobile banking apps. Continuous usage of mobile banking applications will be extremely beneficial in closing the financial inclusion gap, particularly among women. Furthermore, it could help the country’s efforts to transition to a digital society. Future Research: The majority of study participants are from urban areas. Future studies should focus on consumers who live in rural areas. It was also suggested that the elderly be targeted because they may have different views/perspectives on the continued use of mobile banking applications.

Exploring the Allure: What Drives Customers to Embrace Mobile Banking Apps?

This empirical investigation precisely explores the allure that drives customers to embrace mobile banking apps. This paper aims to examine the combined roles that perceived usefulness, perceived ease of use, perceived security and trust, and perceived hedonic motivation play in the adoption of mobile banking apps. It also aims to determine the effect of perceived hedonic motivation as a mediating variable in the relationship between these factors and the allure to embrace mobile banking apps. The research employed a positivist research philosophy and a descriptive research design, utilizing a survey method. Data were collected from 409 users of mobile banking apps from Karnali Province, employing a purposive sampling technique. The study exclusively conducted inferential analysis, employing the Partial Least Squares Structural Equation Modeling (PLS-SEM) technique to achieve its objectives. The study found a statistically significant positive impact of perceived usefulness, perceived ease of use, perceived security and trust, and perceived hedonic motivation on the adoption of mobile banking apps. Additionally, it identified the complementary partial mediating role of hedonic motivation. It accentuated its supportive influence on the relationships between PEoU, PSaT, and PU, and the allure to embrace mobile banking apps. These findings offer actionable insights for practitioners seeking to enhance mobile banking apps' appeal and user experience, acknowledging the intricate interplay of factors that collectively shape consumer willingness in the dynamic digital finance landscape

Use of Mobile Banking Apps in Pakistan: Extending UTAUT2 Framework with Trust and Innovativeness

Use of Mobile Banking Apps in Pakistan: Extending UTAUT2 Framework with Trust and Innovativeness

Advancement of Digital Transformation to Boost Financial Services Industry

In the financial sector, digital transformation refers to the process of leveraging technology to develop new services, optimise consumer experiences, and improve financial business operations. This can entail a variety of steps, such as developing mobile banking apps, integrating artificial intelligence into customer support, or utilising blockchain technology to enable safe and effective transactions. The financial services industry has a profitable chance to modernise traditional work practises, upskill, innovate, and begin embracing digitalization through the effective use of technology. This research study is to determine presence of digital transformation in financial services. It is secondary research study which also focussed on futuristic technical trends for digitalisation in financial industry.

An investigation of selected UTAUT constructs and consumption values of Gen Z and Gen X for mobile banking services and behavioral intentions to facilitate the adoption of mobile apps

This study aims to analyze the impact of consumption values on the adoption of NBG’s mobile banking services and the role of customers’ motivation and app adoption in this process. The study reveals users’ attitudes and behavior towards mobile banking by establishing significant connections between selected UTAUT constructs. Based on a critical case of the m-banking services of a leading Greek financial institution, we gathered 418 full-answered questionnaires from a convenience sample of 654 customers to test 18 research hypotheses. The research results confirm that the three selected UTAUT constructs, are antecedents of behavioral intention, supporting the initial assumption. This study analyzes the factors that drive the adoption and usage of mobile banking apps, providing valuable insights for marketing academia and managers.

Towards Understanding the Consumer Behavior of Mobile Banking Applications for Management Decision Makers

The rapid growth of mobile applications in the banking sector has been increasing due to the ease of use and saving the time of users. However, the fierce competition between banks draws attention to the factors that increase the use of banking mobile applications to maintain the level of satisfaction of the customers of each bank. One of the crucial aspects that decision-makers need to understand is the consumer behavior of mobile banking applications. Therefore, this research paper aims to present a comprehensive exploration of mobile banking adoption by examining the interplay of cultural dynamics, usability, cross-cultural comparisons, economic factors, and the significance of longitudinal insights. It elucidates how cultural norms and societal expectations impact adoption, emphasizing regional variations. The study also dissects mobile banking app interfaces to enhance user-friendliness, tailoring them to diverse user preferences. Cross-cultural comparisons shed light on the interplay between culture, economics, and regulations. It scrutinizes economic factors, considering income levels and financial literacy while emphasizing the importance of longitudinal studies for tracking evolving adoption patterns. This research not only advances our knowledge of mobile banking adoption but also offers practical insights for banks, policymakers, and service providers as they navigate the rapidly evolving mobile banking landscape in an increasingly digital world.

The Application of Delon and McLean Method and End User Computing Satisfaction to Analyze User Satisfaction of Mobile Banking Applications

The purpose of this study is to identify the variables that affect users' satisfaction with mobile banking apps. This study was carried out with a quantitative methodology. Users of mobile banking apps make up the study's demographic. Purposive sampling was used to choose 200 samples with active user criteria, ensuring that the participants in the study who answered the questionnaire were actual users of the mobile banking app. After that, analysis was done with Smart-PLS software and the PLS-SEM technique based on outer and inner models and demographics. It is possible to draw the conclusion that, in general, consumers are happy with the mobile banking application based on the discussion's outcomes. The variables content, accuracy, convenience of use, timeliness, system quality, information quality, and service quality that affect user satisfaction with the mobile banking application are the subject of seven recognized theories. One hypothesis is found to be false. This indicates that consumer happiness is unaffected by the variable. According to the study's findings, in order to keep users of the mobile banking app satisfied, it is imperative to maintain or enhance the system's quality, information quality, convenience of use, timeliness, content, and service quality.

Investigating customers’ continuous trust towards mobile banking apps

Gaining continuous trust from mobile banking customers is a critical step in retaining customers for their usage of the provided services. The current study aims to investigate how customers’ continuous trust is formed at the continuous-use stage. Online survey responses from 450 frequent mobile banking users are collected. The data were analysed using structural equation modelling (SEM) based on a proposed model that predicts trust. The findings successfully validated the model and its reduced form. Based on the model, customers’ continuous trust can be predicted by mobile banking apps’ perceived ease of use, privacy assurance and security features, organisation reputation, customer support, and customers’ previous experience. Furthermore, the interactive relationships among these proposed factors are proposed and validated in the model. By studying trust in mobile banking past the initial adoption stage, we provide evidence to support the theoretical framework of investigating mobile banking continuous trust from the three constructs—mobile app (perceived ease of use, privacy assurance, security features), organisation (reputation, customer support), and customer (prior experience).

Remote assessment of functional impairment in Alzheimer’s disease: results of the RADAR‐AD study

AbstractBackgroundRemote monitoring technologies (RMTs), such as smartphone apps and smartwatches, are changing the way functional and cognitive performance are measured in Alzheimer’s disease (AD). Due to their sensitivity, objectivity, and the option of long‐term and continuous measurement, RMTs have the potential to detect a subtle decline in the earliest stages of AD. Here, we present the results of the European RADAR‐AD project (Remote Assessment of Disease and Relapse – Alzheimer’s disease), which aims to test feasibility, acceptability and validity of RMT measures across all stages of AD, from cognitively normal to mild dementia.MethodFour study groups (amyloid negative healthy controls, and amyloid positive preclinical AD, prodromal AD, mild‐to‐moderate AD) were included in this cross‐sectional study (N = 175). During 8 weeks, participants wore two activity trackers (Fitbit and Axivity) measuring physical activity, heart rate and sleep continuously, and used two interactive smartphone apps (Mezurio and Altoida’s research algorithm: DNS‐MCI) measuring cognition daily/weekly. At baseline, participants underwent extensive neuropsychological, physical examinations, and did two sensor‐based tests (banking app and walk test). Features were extracted for all RMTs (Figure 1) and compared across groups using ANCOVA, with adjustment for relevant confounders. This study is part of an ongoing investigation into high‐end multimodal analyses for real‐world functional performance of continuous RMT data streams.ResultCompliance was high, but decreased with cognitive impairment (feasibility). User experience did not differ between groups but was lower for smartwatches compared to interactive smartphone apps (Table 1) (acceptability). Various individual sensors discriminated symptomatic AD participants from asymptomatic participants (p<0.05), for example the two active apps, but did not discriminate preclinical AD from healthy controls (Table 1) (validity).ConclusionThe RADAR‐AD study provides unique insights in the feasibility, acceptability, and validity of remote monitoring of functional abilities in AD and their potential to differentiate between syndromic stages. This work has received support from the EU/EFPIA Innovative Medicines Initiative Joint Undertaking (grant No 806999) and their associated partners. www.imi.europa.eu. This communication reflects the views of the RADAR‐AD consortium and neither IMI nor the European Union and EFPIA are liable for any use that may be made of the information contained herein.

A multimodal digital biomarker of functional deficits in early‐stage Alzheimer’s disease: results of the RADAR‐AD study

AbstractBackgroundRemote monitoring technologies (RMTs), such as smartphone apps, smartwatches, and in‐home sensors, are rapidly changing the way functional and cognitive performance is measured in Alzheimer’s disease (AD) patients. Here, we present results from the European RADAR‐AD study on the use of multimodal data streams for the identification of functional deficits across all syndromic stages of AD.MethodFour study groups (Healthy controls (HC), preclinical AD (pre. AD), prodromal AD (pro. AD), and mild AD) were included in this cross‐sectional study. The RMT features (gait measures from Timed up and Go (TUG), Dual Task Effect (DTE) using physilog, acoustic features from Speech task in Mezurio, neurocognitive function using Altoida, managing finances with Banking app) with in‐clinic neuropsychological (NP) tests, activities of daily living with Amsterdam IADL and demographics (age, gender, education years) were analyzed for different combinations of the multimodal digital biomarker of disease stage in AD across different pairwise comparisons. The analysis includes data from 175 participants (HC = 67, Pre.AD = 26, Pro.AD = 50, Mild AD = 32) collected for 8 weeks. An extreme gradient boosting (XGBoost) machine learning model was trained to obtain a multimodal biomarker of AD disease stage with repeated cross‐validation (5‐fold with 4 repeats) (Figure 1). This investigation is part of the ongoing RADAR‐AD study.ResultThe multimodal combination of RMTs achieved a mean AUC of > 0.60 in all pairwise comparisons with a mean AUC > 0.65 for HC vs (Pre.AD, Pro.AD and Mild) (Figures 2 and 3). The addition of NP tests increases the performance considerably across all pairwise comparisons except HC vs Pre.AD.ConclusionOur results highlight the advantage of combining RMTs to identify functional deficits in the early stage of AD. In particular, in prodromal and mild AD patients, a combined signal shows much more strength compared to individual tests. This work has received support from the EU/EFPIA Innovative Medicines Initiative Joint Undertaking (grant No 806999). www.imi.europa.eu. This communication reflects the views of the RADAR‐AD consortium and neither IMI nor the European Union and EFPIA are liable for any use that may be made of the information contained herein.

Transforming the Financial Ecosystem: The Synergy of FinTech, RegTech, and Artificial Intelligence

This paper explores how Financial Technologies (FinTech), Regulatory Technologies (RegTech), and Artificial Intelligence (AI) are changing the financial world. We aim to make these complex topics clear and engaging, using everyday language and avoiding jargon. Our study looks closely at recent research and real-life examples, like how mobile banking apps have revolutionized personal finance and how AI is used in fraud detection. We also focus on these technologies' critical ethical issues, such as data privacy concerns, the risk of biased algorithms, and how they might affect financial equality. By examining both the benefits and challenges, including these ethical aspects, our paper provides insights and recommendations for future research and discussion. The goal is to contribute meaningfully to the evolving conversation about technology's role in finance, making it understandable and relevant to a broad audience.

THE DETERMINANTS OF DIGITAL BANKING ADOPTION AMONG BANKS OFFERING ISLAMIC BANKING SERVICES

Technology advances in the financial sector have been a topic of much discussion within the banking industry. It is believed that the adoption of digital banking by banks depends greatly on their characteristics and the market they operate. This study examines the relationship between bank and market characteristics and the adoption of digital banking among banks that offer Islamic banking services in Indonesia. Data are gathered from banks’ annual reports, their first mobile banking app, financial reports, and banking statistics from 2010 to 2022. A panel logistic regression is utilized in the analysis. The results indicate that bank and market characteristics have a meaningful impact on a bank's decision to adopt digital banking. Additionally, it is found that banks are more inclined to adopt digital banking during the COVID-19 pandemic.

Financial Inclusion and its Impact on Banking Performance: A Study with Special Reference to Ranchi City

This study investigates the dynamics of financial inclusion and banking performance in Ranchi City through a comprehensive survey and data analysis. Utilizing factor analysis, four key components have been identified: "Financial Inclusion and Satisfaction with Services," highlighting the importance of accessible, efficient, and affordable banking services; "Accessibility and Technology Usage," emphasizing the role of mobile banking apps, fees, and geographical access; "Documentation and Literacy," revealing challenges related to documentation requirements and limited financial literacy; and "Savings and Consultation," underscoring the significance of saving behavior, financial advice-seeking, and prompt customer service. These results provide policymakers and financial institutions with significant insights that can be used to build targeted policies that increase financial inclusion and banking services in Ranchi City, which would eventually encourage economic empowerment and well-being in the area.

App atmospherics, personality factors and technology acceptance behaviour towards the adoption of mobile banking apps – a systematic literature review

Mobile banking apps have become increasingly popular in recent years, providing customers with a convenient and secure way to manage their finances. These apps have transformed the way we conduct financial transactions and have revolutionized the banking industry. However, despite the widespread adoption of mobile banking apps, there is still a significant gap in our understanding of the factors that influence customers' acceptance of these apps. This systematic literature review aims to provide a comprehensive overview of the current state of research in this area based on app atmospherics, personality factors, and technology acceptance behaviour. The review analysed 40 papers published between 2019 to 2023 to synthesize the evidence and identify key factors that influence the adoption and intention to use mobile banking apps. One of the key findings of the review is that app atmospherics, including the visual design, functionality, and interactivity of mobile banking apps, significantly influence customers' technology acceptance behaviour. Customers are more likely to adopt mobile banking apps that are visually appealing, user-friendly, and interactive. Additionally, technology acceptance behaviour, such as perceived usefulness, perceived ease of use, and perceived trustworthiness, also plays a crucial role in shaping customers' attitudes towards mobile banking apps. The review also identified personality factors such as emotions and attitudes that significantly influence the adoption and intention to use mobile banking apps. Customers who are open to change, innovative, and willing to take risks are more likely to adopt mobile banking apps than those who are not. Additionally, customer demographics, cultural differences, and technological advancements were identified as key factors that affect the adoption of mobile banking apps. Banks and financial institutions must keep up with technological advancements to stay ahead of the competition and provide customers with the latest and most innovative technologies. This study has identified the key research gaps and suggest a theoretical framework for future research agenda.

Mobile banking apps in Poland and their accessibility for consumers with disabilities: a case study

Proper adaptation of banking mobile applications to the needs of people with disabilities can play a crucial role in minimising the financial exclusion. The article examines selected mobile banking applications of four Polish banks in the context of their adaptation to the needs of consumers with disabilities. The project used a descriptive case study method based on analytical induction, and observation was carried out for six months. The analysis of the application was conducted in two parts: the adaptation of interfaces and functionalities to the preferences of people with disabilities in terms of readability, the efficiency of the application, and comprehensibility of the form of information transfer, and other accessible functionalities within the analysed applications that meet the needs of people with disabilities. The study’s results indicate the strengths of the accessibility of the analysed mobile applications as well as their limitations in enhancing independent living for people with disabilities.

Palm Payment System: Islamic Finance Perspective

Cashless payments have become an increasingly popular trend in recent years. Cashless payment methods can include the use of credit/debit cards, mobile banking apps, digital wallets, payments via smartphones, or even biometric technologies such as fingerprint scanners or facial recognition. Palm Payment System incorporates fingerprint biometrics in the palm of the hand to facilitate payments, making it safer and more reliable as long as we have a balance, internet network and hands. Descriptive qualitative research methods are research approaches used to describe certain phenomena or events by understanding and describing in depth the characteristics, context, and complexity of the phenomenon. The use of Palm Payment System is in accordance with Islamic finance principles that uphold transparency, honesty, and fairness in business. However, it needs to be improved in supporting infrastructure, the level of community adoption and adaptation. Security and privacy should not be leaked. Accessibility for people with physical disabilities who cannot use palm payment. Minimize technical obstacles due to environmental factors such as extreme temperatures or poor light because it can affect authentication. The latter is affordable in implementation

A digital cohort analysis of consumers' mobile banking app experience

AbstractThe literature on mobile banking has extensively explored various mechanisms underlying service acceptance and continuation. However, there is a lack of research on how the service experience and outcomes differ between digital natives (users born after the digital age) and digital immigrants (users born before the digital age). This study aims to fill this gap by investigating how mobile banking application experience, satisfaction and continued use intention interrelationships differ between digital natives and digital immigrants. The study posits that four components of mobile banking application experience (pragmatic, ease of use, emotional and sensorial) drive continued use intention directly and indirectly through satisfaction. The hypothesized relationships are analysed using a sample of 215 digital natives and 203 digital immigrants and employing the multi‐group analysis in the partial least squares structural equation modelling technique. The study finds that while pragmatic, ease of use and emotional experiences significantly predict satisfaction and continued use, the pattern of associations varies across the digital cohorts. Sensorial experience was consistently found to be insignificant. Satisfaction mediated between the experience dimensions and continued use. The findings suggest that bank managers should recognize the relevant experiences to achieve the satisfaction and continued use of the digital cohorts.

Factor Analysis of Sharia Mobile Banking Using the Utaut2 Model in Millenial Generations

The rapid development of technology has had an impact on a variety of fields, one of which is banking. All banks compete in making services digitally. Shariah Bank provides mobile banking app services for use by millennial-dominated customers. The aim of this research is to identify the factors that influence millennials use of mobile sharia banking using the UTAUT2 model. This research is quantitative research, where the research instrument is a questionnaire with a Google Form to obtain primary data from respondents. The population in this study is the millennials in the Jabodetabek region; the number of samples used was as high as 200 respondents. The sampling method is non-probability sampling with purposive sampling. The analytical method used is PLS-SEM. The results of this study show that performance expectancy, social influence, facilitating condition, price value, and habit influence behavioral intention. Use behavior is influenced by facilitating conditions, habits, and behavioral intentions. The conclusion of this study is that it proved that the construction of UTAUT2, consisting of performance expectancy, effort expectancy, social influence, facilitating conditions, hedonic motivation, habit, and price value, has important roles in determining the intentions and attitudes of mobile banking use.