Evolution of Mobile Banking Regulations.docx

Evolution of Mobile Banking Regulations.docx

《Evolution of Mobile Banking Regulations.docx》由会员分享，可在线阅读，更多相关《Evolution of Mobile Banking Regulations.docx（8页珍藏版）》请在冰豆网上搜索。

EvolutionofMobileBankingRegulations

EvolutionofMobileBankingRegulations

Writtenby

ClaireAlexander

Abstract

Mobilebankingisasubsetofelectronicbankingwhichunderliesnotonlythedeterminantsofthebankingbusinessbutalsothespecialconditionsofmobilecommerce.Itisthelatestandmostinnovativeserviceofferedbythebanks.Butnotenoughstudyhasbeendonetoknownregardinghowcustomersperceiveandevaluateelectronicallydeliveredmobilebankingservices.Thestudyconsidersthefourfactorsperceivedusefulness,perceivedeaseofuse,consumerawarenessaboutmobilebankingandperceivedrisksassociatedwithmobilebanking.Thisstudyalsopointsoutthatthesefactorshaveastrongandpositiveeffectoncustomerstoacceptmobilebankingsystem.Keywords-mobilebanking;perceivedusefulness,easeofuse,risk,awareness.

I.INTRODUCTION

Theproliferationof,andrapidadvancesin,technology-basedsystems,especiallythoserelatedtotheinternet,areleadingtofundamentalchangesinhowcompaniesinteractwithcustomers.Mobilephoneusagehasspreadinaverybroadmannerbothindevelopinganddevelopedcountries.Withmobilecommunicationsalreadyasaprimecaseforleapfroggingtraditionalinfrastructure,mobilebanking（M-Banking）hasgreatpotentialforextendingtheprovisionoffinancialservicestounbankedpeoplethroughatechnologythatisbothfamiliarandwidespread.Oneofthefirstcommercialapplicationsofthemobilecommercewasmobilebanking（m-banking）.Therapidgrowthofmobileapplicationshasgivenrisetoanewterm:

m-commerce.M-commerceisdefinedastheapplicationofwirelesscommunicationsnetworksanddevicestotheexecutionoftransactionswithmonetaryvalue–eitherdirectorindirect.Internetbankingandmobilebanking（m-banking）hasbecometheself-servicedeliverychannelthatallowsbankstoprovideinformationandofferservicestotheircustomerswithmoreconvenienceviathewebservicestechnology.AkeycomponentofmanyinitiativesistheimplementationofCustomerRelationshipManagement（CRM）software.ManycompaniesinthefinancialservicessectorhavebeenquicktoimplementInternetcapabilities,andelectronicserviceisbecomingaviableoptionforinteractionbetweenfinancialserviceprovidersandtheircustomers.Customersatisfactionandcustomerretentionareincreasinglydevelopingintokeysuccessfactorsine-banking.Technology,inparticular,hasbeenincreasinglyemployedinserviceorganizationstoenhancecustomerservicequalityanddelivery,reducecosts,andstandardizecoreserviceofferings.Mobilebankingserviceallowscustomerstomanagetheiraccountswithease.

II.BACKGROUNDANDOBJECTIVE

Molsetal,statedthatthediffusionofelectronicbankingismoredeterminedbycustomeracceptancethanbysellerofferings.Notenoughisknownregardinghowcustomersperceiveandevaluateelectronicallydeliveredservices.LeeandLinhavealsorecentlyhighlightedtheneedforfurtherresearchtomeasuretheinfluenceofe-serviceoncustomer-perceivedservicequalityandsatisfaction.Thisstudyconsidersthefourfactorsperceivedusefulness,perceivedeaseofuse,consumerawarenessaboutmobilebankingandperceivedrisksassociatedwithmobilebanking.Halfofthepeoplethathavetriedmobilebankingserviceswillnotbecomeactiveusers.Highlypublicizedcasesinvolvingmajorsecurityfailuresmighthavecontributedtothepublic’sconcernandlackofacceptanceofmobilebanking.Thepresentstudyaimsatexaminingtheimpactofperceivedusefulness,perceivedeaseofuse,consumerawarenessonmobilebankingandperceivedriskontheacceptanceofmobilebankingbytheconsumers.

III.MOBILEBANKING

Mobilebankingisasubsetofelectronicbankingwhichunderliesnotonlythedeterminantsofthebankingbusinessbutalsothespecialconditionsofmobilecommerce.MobileBankinghasbeengainingincreasingpopularityamongstvarioussectionsofthesocietyforpastfewyears,havingrecoveredfromtheshockofthedot-comburst.MobileBankingreferstoprovisionandavailmentofbanking-andfinancialserviceswiththehelpofmobiletelecommunicationdevices.Thescopeofofferedservicesmayincludefacilitiestoconductbankandstockmarkettransactions,toadministeraccountsandtoaccesscustomizedinformation.Withmobiletechnology,bankscanofferservicestotheircustomerssuchasdoingfundstransferwhiletravelling,receivingonlineupdatesofstockpriceorevenperformingstocktradingwhilebeingstuckintraffic.Smartphonesand3Gconnectivityprovidesomecapabilitiesthatoldertextmessage-onlyphonesdonot.Theconvergenceofmobilecommunicationsanddistributednetworkedcomputinghasprovidedthefoundationforthedevelopmentofanewchannelofelectronicbusiness,mobilebusiness.Mobilebusiness（m-business）isdefinedastheuseofthemobileinformationtechnologies,includingthewirelessInternet,fororganizationalcommunicationandcoordination,andthemanagementofthefirm.M-Bankingisatermusedforperformingbalancechecks,accounttransactions,payments,creditapplicationsetc.viaamobiledevicesuchasamobilephoneorPersonalDigitalAssistant（PDA）.itistheconvenient,simple,secure,anytimeandanywherebanking.Manynewe-commerceapplicationswillbepossibleandsignificantlybenefitfromemergingwirelessandmobilenetworks.Theseapplicationscancollectivelybetermedwirelesse-commerceormobilecommerce.TheearliestmobilebankingserviceswereofferedviaSMS.WiththeintroductionofthefirstprimitivesmartphoneswithWAP（wirelessapplicationprotocol）supportenablingtheuseofthemobilewebin1999,thefirstEuropeanbanksstartedtooffermobilebankingonthisplatformtotheircustomers.SMSBankingisaMobiletechnologythatallowsyoutorequestandreceivebankinginformationfromyourbankonyourmobilephoneviaSMS.WAPbankingisanotherformoftheE-bankingthatenablestheusertocommunicateinteractivelywiththebank,forwhichclientusesonlyGSMmobilephonewithWAPservice.Withits

optionsandthemethodofcontrollingWAPbankingremindsaneasyformofInternetbanking.WAPisauniversalstandardforbringingInternet-basedcontentandadvancedvalue-addedservicestowirelessdevicessuchasphonesandPDAs.

IV.CONSUMERATTITUDETOWARDSM-BANKING

Technologicalinnovationsarehavingsignificantimportanceinhumangeneralandprofessionallife.Thiseracansafelybeattributedastechnologyrevolution.Thequickexpansionofinformationtechnologyhasimbibedintothelivesofmillionsofpeople.Rapidtechnologyadvancementshaveintroducedmajorchangesintheworldwideeconomic

andbusinessatmosphere.Researchonconsumerattitudeandadoptionofmobilebankingshowedthereareseveralfactorspredeterminingtheconsumer’sattitudetowardsonlinebankingsuchasperson’sdemography,motivationandbehaviortowardsdifferentbankingtechnologiesandindividualacceptanceofnewtechnology.Ithasbeenfoundthatconsumer’sattitudestowardonlinebankingareinfluencedbythepriorexperienceofcomputerandnewtechnology.Theadoptionofelectronicbankingforcesconsumerstoconsiderconcernsaboutpasswordintegrity,privacy,dataencryption,hacking,andtheprotectionofpersonalinformation.Electronicbankingrequiresperhapsthemostconsumerinvolvement,asitrequirestheconsumertomaintainandregularlyinteractwithadditionaltechnology（acomputerandanInternetconnection）.Consumerswhousee-bankinguseitonanongoingbasisandneedtoacquireacertaincomfortlevelwiththetechnologytokeepusingit.Customeradoptionisarecognizeddilemmaforthestrategicplansoffinancialinstitutions.Severalstudieshaveinvestigatedwhyindividualschooseaspecificbank.Importantconsumerselectionfactorsincludeconvenience,servicefacilities,reputationandinterestrates.AccordingtoDelvin,customershavelesstimetospendonactivitiessuchasvisitingabankandthereforewantahigherdegreeofconvenienceandaccessibility.Theservice-qualityattributesthattheInternetbanksmustoffertoinduceconsumerstoswitchtoonlinetransactionsandkeepusingthemareperceivedusefulness,easeofuse,reliability,responsiveness,security,andcontinuousimprovement.Inanotherstudyby,theyfoundthatindividualexpectationsregardingaccuracy,security,networkspeed,user-friendliness,anduserinvolvementandconveniencewerethemostimportantqualityattributesintheperceivedusefulnessofInternet-basede-retailbanking.Thecrucialfactorsthataffectanindividual’sdecisiontouseornottouseonlineservicestheage,thedifficultiesofusingtheInternet,fearofchangesinbankingsectorduetotechnologicaldevelopmentandlackofinformationconcerningproductsandservicesprovidedtocustomersthroughelectronicdeliverychannels.FactorssuchasspeedoftransactionsorthecostofusingtheInternethavelittleimpactonanindividual’sfinaldecision.Inthestudyby,revealedsixcompositedimensionsofelectronicservicequality,includingtheprovisionofconvenient/accurateelectronicbankingoperations;theaccessibilityandreliabilityofserviceprovision;goodqueuemanagement;servicepersonalization;theprovisionoffriendlyandresponsivecustomerservice;andtheprovisionoftargetedcustomerservice.Perceivedusefulness,securityandprivacyarethemainperusingfactorstoacceptonlinebankingsystem.AccordingtoastudyWAP,GPRSand3Gfeaturesfrommobiledevicesareofnosignificanceorinfluenceintheadoptionofe-bankingservices.

V.RESEARCHMODELANDHYPOTHESES

PerceivedusefulnessandperceivedeaseofusearethetwocomponentsofTechnologyAcceptanceModel（TAM）.Accordingto,percei