A Study on usage of Mobile Banking Apps with Respect to People in North Bangalore

Abstract

Digitalisation is the driving force universally in all the fields. Developments in Information Technology has improved quality services of all types of industries worldwide. In the field of Banking, there is a paradigm shift by banks from traditional brick and motor banks to branchless banks. Internet Banking and Mobile banking has attracted more customers as there are more number of people who use smart phones, computers or laptops. Banks are offering various mobile and online banking services to enable the customers to transact easily at lesser cost.  Compared to computers and laptops, people prefer to use smart phones and tablets owing to its convenience and longer battery duration. Mobile Banking means the  financial and banking services offered by banks through telecommunication services. It is the emerging technology opted by the customers around the world where there is less chance for the customers to visit banks and personally communication with bankers. This gap is filled by the softwares developed by the bankers which helps customers to gain updated knowledge about banking services. The bankers in turn, are able to tap relevant information about the customers from their transaction history database. This study aims to find out whether demographic factors influence the people to perform financial transactions using Mobile Banking Apps and to know whether people are ready to accept the change in the recent banking system due to digitalisaiton. Quantitative data was collected using self administered questionnaire from 150 respondents residing in North Bangalore.