Mobile Financial Applications Research Articles

Determinants of consumer adoption of biometric technologies in mobile financial applications

This study aims to identify what determines the use of biometric technologies in the financial applications of banks and FinTechs. The analysis uses data from a survey of 1,000 adult Polish residents. The estimated logit model indicates that the probability of using biometric solutions decreases with age and increases with the level of education and technological sophistication relating to personal innovativeness, experience with biometric technology, and the use of digital technology in both financial and non-financial areas. The work identifies the COVID-19 pandemic as a factor accelerating the adoption of biometric solutions and fostering awareness of the threat of digital technologies invading respondents’ privacy. The study demonstrates the positive impact of trust that phone manufacturers ensure the security of stored funds and data processing on the acceptance of biometric solutions in financial services. This relationship underpins the recommendation to financial institutions in the field of promoting biometric technologies.

A Study of Satisfaction and Loyalty for Continuance Intention of Mobile Wallet in India

How do satisfaction and loyalty drive Indian consumers' continued use of mobile financial applications? Do age, education, and income moderate these relationships? An analysis of 1,060 Indian participants revealed that consumer satisfaction and loyalty were correlated with continuance intention. Satisfaction seemed to be a more emotional factor for the continuance of mobile wallet use, while loyalty was more cognitive behavior. Income and education showed opposite and significant moderating effects on the main driving factors. In general, the research findings can provide a deeper understanding of the continued use of mobile financial applications.

Mobile financial applications development using an integrated approach of the netnography, fuzzy QFD and fuzzy flowsort

The growing popularity of mobile applications and technology has led to developing the relationships of many corporations with consumers through mobile apps. Therefore, designing applications based on consumers' preferences and requirements are very important. This research seeks to evaluate and rank the technical requirements of mobile financial applications according to the customer's needs. Firstly, the netnography technique has been used to identify customer needs through the analysis of customer comments. After determining the technical requirements, using the latest edition of ISO 25010 standards, customer requirements and technical requirements have been analysed using the fuzzy QFD method. Finally, to determine the most important technical requirements, the fuzzy flowsort method was used for ranking. The results showed that security requirements, maturity, availability, appropriateness recognisability, operability, user interface aesthetics, accessibility, and analysability are the most important and most effective requirements related to customer needs in the area of mobile financial applications.

GLOBAL FINANCE AND FINTECH: CHALLENGES, TRENDS AND SYSTEM DETERMINANTS OF DEVELOPMENT

Introduction. Recent years have become, without exaggeration, turning points in the de­velopment of the global financial environment and the financial technology sector. Among the main triggers of change are global digitization; quarantine restrictions caused by COVID-19; military aggression and full-scale Russian invasion of Ukraine. The answers to these challenges were: virtualization of FinTech and the emergence of new tools in the financial services sector; development of new habits in the use of non-banking services; partial transfer of savings into cryptocurrencies; improvement of mobile financial applications and introduction of innovative IT technologies in the financial sphere. The purpose of the article is to scientifically substantiate the modern challenges faced by the global financial environment and the market of financial technologies (including in wartime condi­tions); identify main trends in the development and implement financial technologies in the world market of financial services; outline the system determinants and prospects for the use of innova­ tive solutions by financial intermediaries with the aim to create a safe space and protect personal data; justify the need to introduce artificial intelligence in the field of financial technologies. Results. It was found that financial technologies significantly affect the landscape of the mod­ern global financial environment, its spheres, functionality, set of tools, internal and external struc­ture, expand the range of opportunities, modify rules and establish new traditions. It is argued that the global challenges caused by the global financial crisis of 2008, the COVID-19 pandemic and the war in Ukraine created the prerequisites for the development of innovations in the field of financial technologies. The research has shown that new trends in the development of financial technologies are outlined in the global financial environment, and in particular: automation of var­ious processes in all industries; improving access to financial services in all segments and areas of the global financial environment; inclusiveness and accessibility of financial services through remote customer service channels and virtual communication channels. It has been proven that during the Russian aggression, FinTech companies developed flexibility and loyalty in product development, developed a network of new partnerships, and changed the focus of their activity from the marketing sector to business efficiency and profitability. It is substantiated that important determinants of the development of the field of financial technologies are: deep understanding of the essence of market problems; reformatting of the legislative field and prudential supervision; implementation of innovative ideas into a real final product; favorable conditions of taxation in the field of entrepreneurial activity; high quality and availability of the Internet. Conclusions. Based on the results of the research, it was concluded that new trends re­garding the development of FinTech are being outlined in the global financial environment, which have significant consequences for the growth of financial markets and optimization of the global financial ecosystem. Changes in the global FinTech landscape are predicted due to the operation of the "FinTech sandbox"; expansion of customer service markets and accounts’ management; the opening of opportunities for the emission of electronic money by non-banking financial institutions and the use of ARI technologies, which will eventually allow FinTech market companies to offer new products and implement new business models.

Dual-Factor Approach to Consumer Acceptance of Mobile Banking

This study builds on relationship marketing literature and extends existing continuance intention theories by applying dual-factor model to understand the complex behaviors of Japanese consumers and continuance intention of using mobile financial applications, such as mobile banking and/or mobile wallet. The research model, originally developed by Amoroso and Chen, has been adopted and data collected with a sample of 513 Japanese mobile banking app consumers. A predictive structural equation model was derived from the covariance matrix and was produced to analyze the path coefficients. The results show a general support for continuance intention to use mobile banking technologies among Japanese consumers. The results show Japanese consumer satisfaction is found to be a strong predictor of loyalty and continuance intention, directly affected by perceived value, perceived enjoyment, and inertia/habit. While loyalty is found to be a key construct to directly affect continuance intention, a very strong predictor of continuance intention among Japanese mobile banking apps users.

BANK MARKETING IN THE CONDITIONS OF DIGITAL GLOBALIZATION

Introduction. The functioning of banks in the highly competitive environment requires some research on the patterns of their activity in the market. Increased competition between deposit institutions, the emergence of compete it or sin the face of non-banking institutions (insurance, trust companies, pension funds), the outflow of investments from banks due to the development of the securities market have led to the need for banks to use marketing tools. In this context, the importance of digitalization on banking business in Ukraine plays an important role. Therefore, a necessary prerequisite for effective banking is the integration of digital and traditional marketing components, which will vary depending on the business model adopted and the status of the product and price segments of the market. Purpose is to investigate the trends of influence of modern information technologies on the development of banking marketing, to substantiate on this basis the ways of development of innovations of the banking product line in the conditions of financial instability. Results. The basic essential and evolutionary features of banking marketing have been analyzed and systematized, which made it possible to define modern banking marketing as an active search by banks for profitable markets of banking products. The influence of modern information technologies on the development of banking marketing is investigated. The key aspects of the strategic transformation of the bank into the digital era are identified. The directions of introduction of banking innovations in the conditions of financial instability, increase of banks' ability to use information resources effectively, development of new banking technologies and products, preservation of their competitive positions in the market and customer trust are offered. Conclusions. We see the prospects for further study of the stated problem in the study of challenges and threats that bring features of digitalization of the economy to all participants of this process. Due to the constant growth of cyberattacks, it is necessary to protect Internet applications and mobile financial applications, smart contracts, payment and automated banking systems, etc. by increasing the level of information security. A more detailed exploration of systems approaches to ensuring that Big Data and cloud services are used as test platforms is promising.

Mobile financial applications development using an integrated approach of the Netnography, Fuzzy QFD and Fuzzy Flowsort

Mobile financial applications development using an integrated approach of the Netnography, Fuzzy QFD and Fuzzy Flowsort

Fingerprint Spoofing Detection to Improve Customer Security in Mobile Financial Applications Using Deep Learning

Online banking and financial services using mobile applications are seeing a persistent growth among customers, who are using these for their financial transactions. This rise in the use of such applications in smart devices has increased security concerns. There is need for secure mechanisms to prevent fraud and protect personal information. This paper investigates the use of biometric identification in banking and financial services, which leverage the use of smartphones and tablets. While customer engagement and brand loyalty are important concerns, these services are making use of biometric authentication to make customer interactions more secure. However, as technology is growing rapidly, spoofing attacks are becoming common. In this paper, authors have proposed a robust framework to detect spoofing attacks in fingerprint recognition. The process of spoofing detection involves contrast enhancement using histogram equalization and a deep convolutional neural network architecture. Authors have validated the results on various biometric spoofing benchmarks, each one containing real and spoofed samples of user fingerprints. The results indicate that our proposed framework performs better as evaluated against other existing pre-trained CNN models and state-of-the-art methods.

ANALYSIS OF MOBILE SERVICES IN THE FINANCIAL SECTOR / MOBILIŲJŲ PASLAUGŲ ANALIZĖ FINANSŲ SEKTORIUJE

Extensive research of mobile financial services has been conducted in digital finance, FinTech, blockchain and cryptocurrencies. These new technologies and products are changing the financial services industry. It is critically important to know how customers will accept these changes. This article aims to discuss the inclusion of Mobile services in the financial sector and how users are likely to adopt mobile financial applications (MFA). Empirical investigation was conducted into what a customer considers to be most important when using MFA and the correlation between level of income of the user and adoption of MFA in Lithuania and in Germany. The findings show that income influences the adoption of MFA in Lithuania, but has no effect in Germany. Also, the key factors of using MFA are: security, comfortability, fast performance and cost. In addition to analysing results, new recommendations are proposed to improve future mobile financial services.

M-Commerce and It's Issues

A new e-commerce applications that will be possible and significantly benefit from emerging wireless and mobile networks is envisioned. Mobile-culture among children and young person is happening all around the world. For the new generation, mobile phones are not only a devise to make calls, but rather as an instrument for coordinating their social life. SMS, MMS, games, music, and videos are features available on the mobile phones and teenagers are their main players. Little that they know that these activities are part of a new way commerce is carried out. Mobile commerce or M-Commerce is growing but its impacts on the young generation can be tremendous. Since there are potentially an unlimited number of mobile commerce applications, several important classes of applications such as mobile financial applications, mobile inventory management, proactive service management, product location and search and wireless re-engineering are attempted to be identified. This short article aims at highlighting possible issues that may arise with regard to minors and M-Commerce.

The Impact of Technology Anxiety on the Use of Mobile Financial Applications

Mobile Commerce activities will not expand without the proper support of mobile financial applications (MFA), including mobile banking, mobile brokerage service, mobile money transfer, and mobile micro-payments. MFA is expected to have a great impact on the future of mobile commerce industries and makes purchasing activities more flexible and convenient, also creating new markets. However, despite the advent of these MFA technologies and the availability of various mobile services, the adoption of mobile financial applications across the globe is still relatively low. In this regard, this study investigates the role of technology anxiety (TA) in the adoption of MFA and resolves the discrepancy between the apparent interest in and low adoption of MFA. The results of a broad survey of 595 mobile payment users in Korea indicate TA negatively moderates the influence of intention on actual usage in addition to the direct negative influence on intention to use MFA. Also, the author found that TA significantly differs depending on the frequency of use and gender. However, contrary to a common notion that older people are more anxious in context to new technologies, TA has been found to be higher among young people.

Support for real-time decision making in mobile financial applications

Mobile users making real-time decisions based on current information need confidence that their context has been taken into consideration in producing the system’s recommendations. This chapter reviews current use of mobile technologies for context-aware real-time decision support. Specifically, it describes a framework for assessing the impact of mobility in decision making. The framework uses dynamic context model of data quality to represent uncertainties in the mobile decision-making environment. This framework can be used for developing visual interactive displays for communicating to the user relevant changes in data quality when working in mobile environments. As an illustration, this chapter proposes a real-time decision support procedure for on-the-spot assistance to the mobile consumer when choosing the best payment option to efficiently manage their budget. The proposed procedure is based on multi-attribute decision analysis, scenario reasoning, and a quality of data framework. The feasibility of the approach is demonstrated with a mobile decisionsupport system prototype implementation.

Planning for IS applications: a practical, information theoretical method and case study in mobile financial services

We use information theory to justify use of a method to help managers better understand what new IT applications and features will be most valued by users and why and then apply this method in a case study involving the development of financial service applications for mobile devices. We review five methods for data gathering, analysis, modeling, and decision-making and compare them with information processing methods for IS planning. Then we develop an IS planning method, an extended version of ‘critical success chains’ (CSC), that supports five of six of the identified information processing needs. We use this method in a project to develop ideas for mobile financial services applications at Digia, a Finland-based R&D firm. We select a group of experts and potential early adopting users. In structured individual interviews, we ask why participants prefer particular specific features the participant would expect to be part of an application. We record this data as linked chains connecting features with consequential performance and with the perceived value of such performance. The data is analyzed across participants to create network models of features, performance, and values. We conduct an ideation workshop with Digia engineers and executives to generate ideas for new systems based on the CSC models. Workshop participants created back-of-the-envelope level ideas for three new applications and business models to show graphically the flow of information, value, and revenue among parties involved in producing and using the applications. We conclude by comparing the extended CSC and other IS planning methods in terms of information theory and the information processing needs for IS planning.

Mobile banking services

Adopting new and innovative mobile financial applications and service provisioning methods.

Mobile commerce: framework, applications and networking support

Advances in e-commerce have resulted in significant progress towards strategies, requirements, and development of e-commerce applications. However, nearly all e-commerce applications envisioned and developed so far assume fixed or stationary users with wired infrastructure. We envision many new e-commerce applications that will be possible and significantly benefit from emerging wireless and mobile networks. To allow designers, developers, and researchers to strategize and create mobile commerce applications, we propose a four-level integrated framework for mobile commerce. Since there are potentially an unlimited number of mobile commerce applications, we attempt to identify several important classes of applications such as mobile financial applications, mobile inventory management, proactive service management, product location and search, and wireless re-engineering. We discuss how to successfully define, architect, and implement the necessary hardware/software infrastructure in support of mobile commerce. Also, to make mobile commerce applications a reality, we address networking requirements, discuss support from wireless carriers, and present some open research problems.