An Investigation on The Intention to Adopt Mobile Banking on Security Perspective in Bangladesh
Keywords:
mobile banking, security, self-efficacy
Abstract
This research examines the information security of adopting mobile banking and suggests maximizing information security in mobile banking in different ways. Security issues pose a threat to mobile banking adoption and diffusion. Therefore, reliable security measures and improved trust improvement are suggested to address information security in adopting mobile banking for financial services. A questionnaire survey is conducted with users of mobile banking technology. Random sampling is adopted in the study. 650 questionnaires were sent to respondents, and 303 responses were recorded. A confirmatory factor analysis with varimax rotation was conducted following correlation and multiple regression analysis to test the hypothesis of the study. The research finds that (1) perceived security and trust affect mobile banking self-efficacy and performance (SEP) of adopting mobile banking for financial services; (2) Reliable security measure and perceive trust improvement positively influence (SEP) of adopting mobile banking for financial services. This study shows the significance of user perceptions of security by inspecting the content of the security rules of mobile banking for clients’ levels. It includes the adoption of technology in financial services. Therefore, the study links the technology acceptance model (TAM) with the literature on perceived security and trust of adopting mobile banking for financial services. The research has applied to the banking industry to develop and expand its banking market by developing reliable security measures and improving the perceived trust of customers to conduct banking transactions using mobile banking technology.
References
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Diamantopoulos, A. P. (2008). Advancing formative measurement models. Journal of Business Research, 61(12), 1203-18.
Edge, M. E., & Sampaio, P. R. F. (2009). A survey of signature based methods for financial fraud detection. computers & security, 28(6), 381-394.
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Featherman, M. P. (2003). Predicting e-services adoption: a perceived risk facets perspective. International Journal of Human–Computer Studies, 59(4), 451-474.
Fornell, C. A. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 1, 39-50.
Ganesan, S. (2003). Determinant of long-term orientation in buyer–seller relationships. Journal of Marketing, 2, 58.
Gefen, D. K. (2003). Trust and TAM in online shopping: an integrated model. MIS Quarterly, 27(1), 51–90.
H. E. Riquelme, R. R. (2010). the moderating effect of gender in the adoptation of mobile banking. International journal of bank marketing, 28(5), 328-341.
Hair, J. F. (2006). Multivariate data analysis. Upper Saddle River: NJ: Pearson-Prentice Hall.
Hair, J. F. (2009). Multivariate data analysis: A global perspective. (7th, Ed.) Upper Saddle River: NJ: Prentice Hall.
He, W. (2013). A Survey of Security Risks of Mobile Social Media through Blog Mining and an Extensive Literature Search. Information Management and Computer Security, 21(5), 381-400.
Heggestuen, J. (2014). “The Future Of Mobile And Online Banking. Retrieved from http://www.businessinsider.com/the-future-of-mobile-and-online-banking-2014-slide-deck.
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Hulland, J. (1999). Use of partial least squares (PLS) in strategic management research: A review of four recent studies. Strategic Management Journal, 20, 195-204.
Ibrahim, M., Al-Jabri, M., & Sadiq, S. (2012). Mobile banking adoption: Application of diffusion of innovation theory. Journal of Electronic Commerce Research, 13(4), 379–391.
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Jeong, B. K. (2013). An Empirical Investigation on Consumer Acceptance of Mobile Banking Services. Business and Management Research, 2(1), 31-40.
Joyce, F. M. (2010). Mobile banking liability: the elephant in the parlor. Innovator, 3(3), 29-32.
Karjaluoto, A. A. (2015). Mobile banking adoption: A literature review. Telematics and Informatics, 32(1), 129-142.
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Kesharwani, A. (2012). The impact of trust and perceived risk on internet banking adoption in India: An extension of technology acceptance model. International Journal of Bank Marketing, 30(4), 303–322.
Kim, D. J. (2008). A Trust-Based Consumer Decision-Making Model in Electronic Commerce: The Role of Trust, Perceived Risk, and Their Antecedents. Decision Support Systems, 44(2), 544-564.
Koenig-Lewis, N. P. (2010). Predicting young consumers’ take up of mobile banking services. International Journal of Bank Marketing, 28(5), 410–432.
Lee, H. Z. (2013). An Investigation of Features and Security in Mobile Banking. Journal of International Technology and Information Management, 22(4).
Liébana-Cabanillas, F. M. D. S. F. P. (2016). Unobserved heterogeneity and the importance of customer loyalty in mobile banking. Technology Analysis & Strategic Management, 1–18.
Lin, H. (2011). An empirical investigation of mobile banking adoption: The effect of innovation attributes and knowledgebased trust. International journal of information management, 31(3), 252-260.
Luarn, P. L. H. (2005). Toward an understanding of the behavioral intention to use mobile banking. Computer in Human Behavior, 21(6), 873-891. https://doi.org/10.1016/j.chb.2004.03.003
Luo, X. L. (2010). Examining multi-dimensional trust and multi-faceted risk in initial acceptance of emerging technologies: An empirical study of mobile banking services. Decision Support Systems, 49(2), 222–234.
Mohamed Merhia, K. H. (2019). A cross-cultural study of the intention to use mobile banking between Lebanese and British consumers: Extending UTAUT2 with security, privacy and trust. Technology in Society, 1-12.
Pavlou, P. A. (2003). Consumer acceptance of electronic commerce: Integrating trust and risk with the technology acceptance model. International Journal of Electronic Commerce, 7(3), 101–134.
Podsakoff, P. M. (2012). Sources of method bias in social science research and recommendations on how to control it. Annual Review of Psychology, 63(1), 539–69.
Podsakoff, P. M. Y. (2003). Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 5, 879–903.
Pousttchi, K. A. (2004). Assessment of today's mobile banking applications from the view of customer requirements. Proceedings of the 37th Annual Hawaii International Conference on IEEE. .
Rahman, M. H. (2016). Impact of Product Nature on Supply Chain in the Global Market: An Analysis of Bangladeshi RMG. Journal of Business and Economic Development, 1(1), 14.
Roni, S. M. (2014). Introduction to SPSS. Australia: School of Business, Edith Cowan University.
Runhua Peng, L. X. (2012). Exploring Tourist Adoption of Tourism Mobile Payment: An Empirical Analysis. Journal of Theoretical and Applied Electronic Commerce Research, 7(1), 21-33.
S. K. Sharma, S. G. M. (2017). A multi-analytical model for mobile banking adoption: a developing country perspective. Rev. Int. Business Strategy, 27(1), 133-148.
Saunders, M. P. (2009). Saunders, M., Philip, L., & Andrian, T. Upper Saddle River, NJ: Prentice Hall.
Shawki, S. H. (2020). Mobile banking services disrupted amid shutdown, clients suffer. Dhaka: The business standard.
Siddhartha, D., Rik, P., & Sanjay, F. (2011). Factors Affecting Behavioral Intentions towards Mobile Banking Usage: Empirical Evidence from India. Romanian Journal of Marketing, 6(1), 6-28.
Smith, L. I. (2002). A tutorial on Principal Components Analysis. John Wiley & Sons Inc.
Speece, S. R. (2003). Barriers to Internet banking adoption: a qualitative study among corporate customers in Thailand. International Journal of Bank Marketing, 21(6/7), 312-323.
Sumeet Gupta, H. Y.-W. (2017). An exploratory study on mobile banking adoption in Indian metropolitan and urban areas: a scenario-based experiment. Information Technology for Development, 23(1), 127-152. https://doi.org/10.1080/02681102.2016.1233855
Tavilla, E. (2015). Transit Mobile Payments: Driving Consumer Experience and Adoption. Boston: Federal Reserve Bank of Boston.
Viswanath Venkatesh, J. Y. (2012). Consumer Acceptance and Use of Information Technology: Extending the Unified Theory of Acceptance and Use of Technology. MIS Quarterly, 36(1), 157-178.
Viswanath Venkatesh, M. G. (2003). User Acceptance of Information Technology: Toward a Unified View. MIS Quarterly, 27(3), 425-478.
Wang, Y. S. W. M. H. I. (2003). Determinants of user acceptance of internet banking: an empirical study. International Journal of Service Industry Management, 14(5), 501–519.
Wang, Z. A. (2012). Understanding the intrinsic motivations of user acceptance of hedonic information systems: towards a unified research model. Communications of the Association for Information Systems, 30(1), 17.
Y. Yea-Mow Chen. (2000). The future of banking. Department of Finance, SanFrancisco State University.
Yousafzai, S. Y., Pallister, J. G., & Foxall, G. R. (2009). Multi-dimensional role of trust in Internet banking adoption. The Service Industries Journal, 29(5), 591-65.
Yu, C. S. (2014). Consumer switching behavior from online banking to mobile banking. International journal of cyber society and Education, 7(1), 1-28.
Zhou, T. A. (2014). Understanding Mobile SNS Continuance Usage in China from The Perspectives of Social Influence and Privacy Concern. Computers in Human Behavior, 37, 283-289.
Zorotheos, A. a. (2009). Users’ perceptions on privacy and their intention to transact online: A study on Greek internet users. Direct Marketing: An International Journal, 3(2), 139–53.
B. Sun, C. S. (2017). research on initial trust model of mobile banking users. Journal risk analysis crisis response, 7(1), 13.
Bhatt, A. (2016). Factors affecting customer’s adoption of mobile banking services. Journal of Internet Banking and Commerce, 21(1), 1–22.
Chemingui, H. (2013). Resistance,motivations, trust and intention to use mobile financial services. International Journal of Bank Marketing, 31(7), 574–592. https://doi.org/10.1108/IJBM-12-2012-0124
Chun, S. H. (2007). Who is responsible for the onus of proof on online fraud transactions? In perspectives of the eCommerce Law and Privacy Investment. In Proceedings of The Korea Society of Management Information Systems, Spring 2007 (pp. 699-704). The Korea Society of Management Information Systems.
Davis, F. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 319–340.
Diamantopoulos, A. P. (2008). Advancing formative measurement models. Journal of Business Research, 61(12), 1203-18.
Edge, M. E., & Sampaio, P. R. F. (2009). A survey of signature based methods for financial fraud detection. computers & security, 28(6), 381-394.
Elkhodr, M., Shahrestani, S., & Kourouche, K. (2012). A proposal to improve the security of mobile banking applications. . 10th International Conference on IEEE (pp. 260-265). ICT & Knowledge Engineering.
Fatima, A. (2011). E-banking security issues–Is there a solution in biometrics. Journal of Internet Banking and Commerce, 16(2).
Featherman, M. P. (2003). Predicting e-services adoption: a perceived risk facets perspective. International Journal of Human–Computer Studies, 59(4), 451-474.
Fornell, C. A. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 1, 39-50.
Ganesan, S. (2003). Determinant of long-term orientation in buyer–seller relationships. Journal of Marketing, 2, 58.
Gefen, D. K. (2003). Trust and TAM in online shopping: an integrated model. MIS Quarterly, 27(1), 51–90.
H. E. Riquelme, R. R. (2010). the moderating effect of gender in the adoptation of mobile banking. International journal of bank marketing, 28(5), 328-341.
Hair, J. F. (2006). Multivariate data analysis. Upper Saddle River: NJ: Pearson-Prentice Hall.
Hair, J. F. (2009). Multivariate data analysis: A global perspective. (7th, Ed.) Upper Saddle River: NJ: Prentice Hall.
He, W. (2013). A Survey of Security Risks of Mobile Social Media through Blog Mining and an Extensive Literature Search. Information Management and Computer Security, 21(5), 381-400.
Heggestuen, J. (2014). “The Future Of Mobile And Online Banking. Retrieved from http://www.businessinsider.com/the-future-of-mobile-and-online-banking-2014-slide-deck.
Horizons, E. (2008). Mobile phones can bring banking within everyone’s reach. Recuperado em, 20.
Hulland, J. (1999). Use of partial least squares (PLS) in strategic management research: A review of four recent studies. Strategic Management Journal, 20, 195-204.
Ibrahim, M., Al-Jabri, M., & Sadiq, S. (2012). Mobile banking adoption: Application of diffusion of innovation theory. Journal of Electronic Commerce Research, 13(4), 379–391.
Ryan W. J. (2014). A Resource Guide for Bank Executives: Executive Leadership of Cybersecurity. proceedings of the Conference of State Bank Supervisors.
Jeong, B. K. (2013). An Empirical Investigation on Consumer Acceptance of Mobile Banking Services. Business and Management Research, 2(1), 31-40.
Joyce, F. M. (2010). Mobile banking liability: the elephant in the parlor. Innovator, 3(3), 29-32.
Karjaluoto, A. A. (2015). Mobile banking adoption: A literature review. Telematics and Informatics, 32(1), 129-142.
Kazemi, A. N. (2013). Factors affecting Isfahanian mobile banking adoption based on the decomposed theory of planned behavior. International Journal of Academic Research in Business and Social Sciences, 3(7), 230–245.
Kazi, A. K. (2013). Factors affecting adoption of mobile banking in Pakistan: Empirical Evidence. International Journal of Research in Business and Social Science, 2(3), 54–61.
Kesharwani, A. (2012). The impact of trust and perceived risk on internet banking adoption in India: An extension of technology acceptance model. International Journal of Bank Marketing, 30(4), 303–322.
Kim, D. J. (2008). A Trust-Based Consumer Decision-Making Model in Electronic Commerce: The Role of Trust, Perceived Risk, and Their Antecedents. Decision Support Systems, 44(2), 544-564.
Koenig-Lewis, N. P. (2010). Predicting young consumers’ take up of mobile banking services. International Journal of Bank Marketing, 28(5), 410–432.
Lee, H. Z. (2013). An Investigation of Features and Security in Mobile Banking. Journal of International Technology and Information Management, 22(4).
Liébana-Cabanillas, F. M. D. S. F. P. (2016). Unobserved heterogeneity and the importance of customer loyalty in mobile banking. Technology Analysis & Strategic Management, 1–18.
Lin, H. (2011). An empirical investigation of mobile banking adoption: The effect of innovation attributes and knowledgebased trust. International journal of information management, 31(3), 252-260.
Luarn, P. L. H. (2005). Toward an understanding of the behavioral intention to use mobile banking. Computer in Human Behavior, 21(6), 873-891. https://doi.org/10.1016/j.chb.2004.03.003
Luo, X. L. (2010). Examining multi-dimensional trust and multi-faceted risk in initial acceptance of emerging technologies: An empirical study of mobile banking services. Decision Support Systems, 49(2), 222–234.
Mohamed Merhia, K. H. (2019). A cross-cultural study of the intention to use mobile banking between Lebanese and British consumers: Extending UTAUT2 with security, privacy and trust. Technology in Society, 1-12.
Pavlou, P. A. (2003). Consumer acceptance of electronic commerce: Integrating trust and risk with the technology acceptance model. International Journal of Electronic Commerce, 7(3), 101–134.
Podsakoff, P. M. (2012). Sources of method bias in social science research and recommendations on how to control it. Annual Review of Psychology, 63(1), 539–69.
Podsakoff, P. M. Y. (2003). Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 5, 879–903.
Pousttchi, K. A. (2004). Assessment of today's mobile banking applications from the view of customer requirements. Proceedings of the 37th Annual Hawaii International Conference on IEEE. .
Rahman, M. H. (2016). Impact of Product Nature on Supply Chain in the Global Market: An Analysis of Bangladeshi RMG. Journal of Business and Economic Development, 1(1), 14.
Roni, S. M. (2014). Introduction to SPSS. Australia: School of Business, Edith Cowan University.
Runhua Peng, L. X. (2012). Exploring Tourist Adoption of Tourism Mobile Payment: An Empirical Analysis. Journal of Theoretical and Applied Electronic Commerce Research, 7(1), 21-33.
S. K. Sharma, S. G. M. (2017). A multi-analytical model for mobile banking adoption: a developing country perspective. Rev. Int. Business Strategy, 27(1), 133-148.
Saunders, M. P. (2009). Saunders, M., Philip, L., & Andrian, T. Upper Saddle River, NJ: Prentice Hall.
Shawki, S. H. (2020). Mobile banking services disrupted amid shutdown, clients suffer. Dhaka: The business standard.
Siddhartha, D., Rik, P., & Sanjay, F. (2011). Factors Affecting Behavioral Intentions towards Mobile Banking Usage: Empirical Evidence from India. Romanian Journal of Marketing, 6(1), 6-28.
Smith, L. I. (2002). A tutorial on Principal Components Analysis. John Wiley & Sons Inc.
Speece, S. R. (2003). Barriers to Internet banking adoption: a qualitative study among corporate customers in Thailand. International Journal of Bank Marketing, 21(6/7), 312-323.
Sumeet Gupta, H. Y.-W. (2017). An exploratory study on mobile banking adoption in Indian metropolitan and urban areas: a scenario-based experiment. Information Technology for Development, 23(1), 127-152. https://doi.org/10.1080/02681102.2016.1233855
Tavilla, E. (2015). Transit Mobile Payments: Driving Consumer Experience and Adoption. Boston: Federal Reserve Bank of Boston.
Viswanath Venkatesh, J. Y. (2012). Consumer Acceptance and Use of Information Technology: Extending the Unified Theory of Acceptance and Use of Technology. MIS Quarterly, 36(1), 157-178.
Viswanath Venkatesh, M. G. (2003). User Acceptance of Information Technology: Toward a Unified View. MIS Quarterly, 27(3), 425-478.
Wang, Y. S. W. M. H. I. (2003). Determinants of user acceptance of internet banking: an empirical study. International Journal of Service Industry Management, 14(5), 501–519.
Wang, Z. A. (2012). Understanding the intrinsic motivations of user acceptance of hedonic information systems: towards a unified research model. Communications of the Association for Information Systems, 30(1), 17.
Y. Yea-Mow Chen. (2000). The future of banking. Department of Finance, SanFrancisco State University.
Yousafzai, S. Y., Pallister, J. G., & Foxall, G. R. (2009). Multi-dimensional role of trust in Internet banking adoption. The Service Industries Journal, 29(5), 591-65.
Yu, C. S. (2014). Consumer switching behavior from online banking to mobile banking. International journal of cyber society and Education, 7(1), 1-28.
Zhou, T. A. (2014). Understanding Mobile SNS Continuance Usage in China from The Perspectives of Social Influence and Privacy Concern. Computers in Human Behavior, 37, 283-289.
Zorotheos, A. a. (2009). Users’ perceptions on privacy and their intention to transact online: A study on Greek internet users. Direct Marketing: An International Journal, 3(2), 139–53.
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2020-12-15
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