Dynamics and Demand for Mobile Banking

Abstract

Presently almost all the banks in the world have started providing their customers “Mobile Banking” services. Recent innovations in the telecommunication have proven to be a boon for the banking sector and its customers: One of these is Mobile Banking, where customers interact with the bank via mobile phones and banks provide them the services like short message services, fund transfers, account details, issue of cheque book etc. The main issue of this study is to understand the factors which contribute to user’s intention to use the mobile banking services. The purpose of this review paper is to explore the factors that influence the adoption behaviour of mobile banking services by Indian consumers. The data was collected from 150 respondents from Delhi city in the month of November and December 2013. Around 61.33% respondents opined that this system is less costly and time saving and 58.67% respondents would like to try this service. In this paper, we will share what is mobile banking (m-banking), RBI guidelines for mobile banking in India, advantages of adopting this new technology both for the banking sector as well as the consumer and issues which needs to be addressed relating to this new form of banking.