Dissertation Regarding Mobile Banking Introduction and Analysis

 This Mobile Banking Introduction Analysis Dissertation discusses adoption of mobile banking by customers. It is a comparative study of Saudi Arabia and United Kingdom.


1.1 Introduction

In the past decades with the progress in technology consumers have start using the more digital mobile devices at a faster pace than ever. The Use of efficient digital mobile devices has opened the door of more convenient and easy to use mobile banking services for the customers. The Internet banking services which have been evolved in the past decades is not providing the efficient banking services in terms of the ubiquitous access to the personal and business information. The Digital mobile devices have been evolved very rapidly in UK but the penetration of digital mobile devices in Saudi Arabia was not as fast as compared to the UK but technology has advanced at consistent pace in Saudi Arabia as well.

The Invention of new digital mobile devices such as PDA and high technology cell phones have enabled not only voice and text messaging but also the accessing internet, making retail transactions and watching televisions etc. Mobile phones have become the interactive network based on various technologies such as SMS, MMS, Wi-Fi, GPRS and Bluetooth etc.

Indian banking system followed by the internet banking services provided by the banks have become the evolutionary steps in the world banking history as the various kinds of services have been provided with the help of mobile banking services such as SMS banking, thin client application and through the use of the direct internet access. These services provides full access to banking services and services provided are immediate and customers have to rely less on the internet access for the banking services.

Mobile devices caters to various services such as viewing the account details, making transfers and make stock transactions. Hence the general mobile Financial Stability can be categorized among the various categories such as mobile accounting services, mobile brokerage services and mobile financial information services. Mobile accounting services includes checking the account balances and making fund transfers with the help of the mobile devices. Mobile brokerage services will include the share transactions with the help of mobile devices and a mobile financial information service includes accessing financial information with the help of mobile device.

1.2 Background

In past various efforts have been made by the researchers in order to study the mobile banking phenomenon among the retail banking as well as business banking customers. The Adaptability of the new innovation in information communication theories has been studied widely with the help of various models such as holistic model, quantitative structural model, Technology acceptance model popularly known as TAM model and theory of resonated action (TRA).

Studies done by Fishben and Ajzen in year 1974 have revealed that the comprehensive adoption of the new ICT innovation management such as internet. Studies done by Nysveen and other co-researcher have highlighted the use of TAM model more for the work related activities rather than the everyday activities of the customers.

Another study done in the area of resistance caused by the users for the technology adoption process by Ellen and co-researcher in year 1991 has shown that the resistance to change in response to the new innovation process is natural consumer behavior. According to the study done by Ram and Seth in year 1989 have revealed that the resistance from the customers in natural phenomenon and marketers need to understand the process and accordingly.

1.3 Problem statement

The Problem which is confronted by the researcher is related with the behavioral study among the customers of the modern banking system. As mobile banking is relatively a newer innovation which poses various threats due to involvement of the various insecure and digital devices and gateways which at sometimes can cause big errors and due to that customers will have to face problems. Hence the main problem for the researcher here is to find out the adoption process for the mobile banking services among the customers. Hence the problem statement of the research would be as follows:

“What is the adoption process for the mobile banking services among the customers and what are the barriers to the use of mobile banking services among the customers of Saudi Arabia and UK”?

1.4 Research objective

 The Objectives for the research to be carried out are as follows:

  • Identifying the adaptability of mobile banking in Saudi Arabia in terms of volume of transactions, level of skills and knowledge on mobile banking, level of frequency and usability ease.
  • Critical comparison between the adaptability levels of mobile banking in the United Kingdom and Saudi Arabia.
  • Identification of the major barriers towards adapting mobile banking within the country both psychological and environmental barriers.
  • To study the factors encouraging the customers for using mobile as a medium for banking.
  • Benefits gained by customers indulging in mobile banking.
  • Measuring the awareness levels of mobile banking.
  • Providing practical recommendations to overcome barriers in mobile banking.
  • Providing guidelines to banking institutions to improve the awareness of online banking.

1.5 Target audience and utility

The Target audience for the present research includes the marketers and various academicians who are working in the field of mobile banking industry in Saudi Arabia and UK. The Service marketers which are working to understand the customer behavior for the mobile banking services which includes the adoption of mobile banking services and the various resistance faced by the mobile bankers in adoption of these services from the customers. The Academicians have done lot of research in the field of adoption process and consumer behavior in mobile banking services.

The Research will try to explore about the process through which customers adopt the mobile banking services. It will highlight the various stages of the customers through which they pass before adapting to any new innovation. Also another major motive for the research would be to bring in light the barriers in adoption of mobile banking services (Lin, 2003). Hence the present research will try to provide solution for removing the barriers in adoption of the mobile banking service which will help the banks to understand their customers better and also will give them an opportunity to enhance the use of mobile banking services in Saudi Arabia and UK.

1.6 Methodology

The Research methodology used for the present research would be descriptive in nature and will explore the consumer behavior in mobile banking industry in UK and Saudi Arabia. The Research will take into consideration the comparative analysis of the adoption process in UK and Saudi Arabia for the mobile banking services.

1.7 Data collection

The Data collection process for the present research will include the multiple resources such as primary as well as secondary data resources. The Data collection process is such that it takes into account information from the various available resources in order to make the research complete in all aspects and to make it free from any kind of biased arising from lack of proper data.

The Research will take primary data which will be collected especially for the purpose of conducting the research about adoption process of mobile banking and to find out barriers in mobile banking services for UK as well as Saudi Arabia. The Primary data collection for the task would be collected with the help of survey as well as with the interview method. The Survey method will include designing of questionnaire which will be filled by respondents in UK and Saudi Arabia. In depth interviews would also be conducted with the respondents in UK and Saudi Arabia for getting deeper insight about penetration of the mobile banking services among the customers.

The Secondary data required for the research would be gathered with the help of various available source of secondary data such as literature review done from recent news, magazines, research journals and bank marketing databases as well. These various sources of secondary data will help in analyzing the trends in mobile banking industry in UK and Saudi Arabia.

1.8 Sampling technique

For collecting the primary data sample units would be chosen in order to record the responses from the samples. As the research can’t be carried out taking into consideration all the population hence small part of the population would be taken as the sample for carrying out the research. The Sample unit for carrying out the research would be bank customers who are either the users of mobile banking services or non users of the mobile banking services. The Users if the mobile banking services will help in exploring how the technology adoption process takes place while the non users of the service will help in pointing out the barriers which are faced by the customers in adopting the mobile banking services. The Idea sample unit for the research would be banking customers in age range from 20-50 years, good educational background, and proper exposure to internet and other technology, users of the digital mobile devices and middle to high income group people.

The Sample size for the research would be different for the different primary data collection tasks. For the collection of data through the survey method sample size of 50 customers would be chosen in order to get the responses from the customers. For conducting the in depth interviews with the customers sample size of the 20 customers would be chosen. This group of customers would include the customers having proper exposure of the mobile banking services and some customers would be those who are not using the mobile banking services due to some hurdles. In both the countries i.e. UK as well as Saudi Arabia same sample size would be chosen and after data collection process a comparative study would be done based on the responses collected in the two countries.

1.9 Data Analysis

The Data collected with the help of the primary as well as with the secondary data would be analyzed with the help of various data analysis in order to analyze the trends in data and to bring out findings through data collection. For analyzing the primary data which will be collected with the help of survey method statistical tools such as Excel would be used to analyze the data. Various charts and cross tabs would be developed in order to analyze the data. While in order to analyze the data gathered through the interview process and secondary data analysis process content analysis method would be used.

1.10 Limitation of the research

The Present research would be carried out with lots of efforts and will try to reduce all the possible errors which can affect the results of the research. But still after taking into consideration various factors in mind there would be some limitations in the research which can possibly affect the results of the research. Some of the possible sources of error will include the small sample size chosen for collection of the primary data, comparative process of research which will compare results in UK and Saudi Arabia and responses from customers.

The Sample sizes which have been taken for the collection of the data in research is very small as compared to the overall size of the population which is very big. Hence the small sample sizes which have been chosen may not be representing the actual picture of the research. Hence there are chances of business to be added in the research due to choice of small sample size. The Research involves the comparative study among the UK and Saudi Arabia for the mobile banking services but the two countries are not same in terms of awareness, technology penetration, banking industry penetration and many other parameters hence the comparison process may not yield the right kind of results. {Also read: – Business Center Insurance Requirements Assignment}

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