Examining consumers' intention, behavior, and beliefs in mobile banking adoption and continuous ...

160 Pages·2016·2.66 MB·English

by  Shaikh, Aijaz Ahmed

JYVÄSKYLÄ STUDIES IN BUSINESS AND ECONOMICS
172
AijKaza rAe hNmoervda Sphalaoikh
Examining Consumers’ Intention,
Behavior, and Beliefs in Mobile Banking
Adoption and Continuous Usage
JYVÄSKYLÄ STUDIES IN BUSINESS AND ECONOMICS 172
Aijaz Ahmed Shaikh
Examining Consumers’ Intention,
Behavior, and Beliefs in Mobile Banking
Adoption and Continuous Usage
Esitetään Jyväskylän yliopiston kauppakorkeakoulun suostumuksella
julkisesti tarkastettavaksi yliopiston Agora-rakennuksen Lea Pulkkisen salissa
joulukuun 16. päivänä 2016 kello 12.
Academic dissertation to be publicly discussed, by permission of
the Jyväskylä University School of Business and Economics,
in building Agora, Lea Pulkkinen hall, on December 16, 2016 at 12 o’clock noon.
UNIVERSITY OF JYVÄSKYLÄ
JYVÄSKYLÄ 2016
Examining Consumers’ Intention,
Behavior, and Beliefs in Mobile Banking
Adoption and Continuous Usage
JYVÄSKYLÄ STUDIES IN BUSINESS AND ECONOMICS 172
Aijaz Ahmed Shaikh
Examining Consumers’ Intention,
Behavior, and Beliefs in Mobile Banking
Adoption and Continuous Usage
UNIVERSITY OF JYVÄSKYLÄ
JYVÄSKYLÄ 2016
Editors
Tuomo Takala
Jyväskylä University School of Business and Economics
Pekka Olsbo, Ville Korkiakangas
Publishing Unit, University Library of Jyväskylä
URN:ISBN:978-951-39-6893-9
ISBN 978-951-39-6893-9 (PDF)
ISBN 978-951-39-6892-2 (nid.)
ISSN 1457-1986
Copyright © 2016, by University of Jyväskylä
Jyväskylä University Printing House, Jyväskylä 2016
ABSTRACT
Shaikh, Aijaz Ahmed
Examining consumers’ intention, behavior, and beliefs in mobile
banking adoption and continuous usage.
Jyväskylä: University of Jyväskylä, 2016, 104 p. (+ articles)
(Jyväskylä Studies in Business and Economics
ISSN 1457-1986; 172)
ISBN 978-951-39-6892-2 (nid.)
ISBN 978-951-39-6893-9 (PDF)
Changing consumer behavior continues to have a profound impact on digital
banking adoption and prolonged usage in developed and emerging markets.
Several factors influence the consumer decision journey when choosing any
specific digital channel or combination of channels. Among a variety of digital
banking channels, this dissertation research seeks to contribute to the mobile
banking (m-banking) literature by examining consumer behavior in m-banking
services as well as technology (application) adoption and continuous usage,
especially after considering the fact that financial service institutions have
entered a time when offering mobile-based services is no longer a novelty but a
necessity.
This dissertation analyzes and synthesizes a plethora of literature on
information systems/information technology and m-banking and their
adoption and usage across various strata of populations in developed and
emerging countries. The dissertation provides useful insights into the drivers of
adoption and continuous usage of m-banking services and application.
The most valuable findings indicate that the m-banking adoption and
usage literature is fragmented and lacks a clear road map or agenda. The extant
literature appears limited by its narrow focus on SMS banking in developing
countries. More surprisingly, no studies address the use of m-banking
applications via smartphones or tablets or consider the consequences of such
usage. Self-congruence is significantly related to perceived value (PEVA) and
addresses a critical gap in the extant literature, which does not seem to have
analyzed the effect of self-congruence on m-banking continuous usage. Overall,
PEVA is significantly associated with increased m-banking usage, and PEVA is
a significant antecedent of the intention to use for consumers in a mature
market. On a different note, the main motivation for the continuous usage of m-
banking is convenience. The results also indicate positive changes in bank
customers’ relationship commitment after using m-banking services.
Keywords: mobile banking, consumer behavior, pre-adoption, post-adoption,
perceived value, relationship commitment, Finland, South Africa
Author’s address Aijaz A. Shaikh
Jyväskylä University School of Business and
Economics
P.O. Box 35
FI-40014 University of Jyväskylä, Finland
e-mail: [email protected]

Supervisor Professor Heikki Karjaluoto
Jyväskylä University School of Business and
Economics

Reviewers Dr. Tommi Laukkanen
Professor of Marketing,
University of Eastern Finland Business School

Payam Hanafizadeh
Associate Professor,
Allameh Tabataba'i University, Iran

Opponents Dr. Tommi Laukkanen
Professor of Marketing,
University of Eastern Finland Business School
ACKNOWLEDGEMENTS

A few individuals deserve my appreciation and heartfelt thanks for their
academic and professional guidance in making my dream of a doctoral degree a
reality.
First and foremost, I am grateful to my supervisor, Prof. Heikki Karjaluoto,
who dedicated extra hours and kept me motivated and engaged in pursuing
and completing my doctorate within the stipulated time period and with a
valuable set of publications.
I am thankful to Mr. Tommi Laukkanen and Mr. Payam Hanafizadeh as
the pre-examiners of my dissertation. Their valuable insights, suggestions, and
feedback were instrumental in improving and shaping my dissertation.
Loving thanks to my parents, my wife, Shabnam Shaikh, and my children
for providing me continuous support, love, kindness, and motivation in
completing my doctoral studies within the stipulated time frame.
I especially thank the Foundation for Economic Education
(Liikesivistysrahasto) for generous research grants during my doctoral studies.
I would like to express my gratitude to my teachers, Professor Kimmo
Alajoutsijärvi, Matti Leppäniemi, Mari Suoranta, and Marjo Siltaoja as well as
my colleagues at the Marketing Department, who provided me required
guidance, advice, and stimulus during my research journey to achieve this
milestone.
I shall always remember the continuous administrative and logistic
support provided by the Admin Department at the Jyvaskyla University School
of Business and Economics (JSBE). Special thanks to Tapio Ruokolainen (Head
of Student and Academic Affairs), Marja Wollenberg (Study Advisor), Raija
Siltanen (Departmental Secretary), Pirjo Hämäläinen (Departmental Secretary),
Katja Mielonen (Coordinator), and Satu Pölkki (Departmental Administrator).
I express my deep gratitude to Mr. Mika Haapanen (Coordinator of JSBE
Doctoral School) for his generous and unwavering support as well as for
responding to my email inquiries on time.

Thank you all. (cid:45)

Jyväskylä, December 2016
Shaikh, Aijaz A.
FIGURES
FIGURE 1 Relative transaction cost per alternative delivery channel
usage ……………………………………………………………. 12
FIGURE 2 Birds-eye view of retail banking system including
alternative delivery channels ………………………………… 12
FIGURE 3 How individual articles are built on each other ……………. 22
FIGURE 4 Mobile banking ecosystem ………………..………………….. 37
FIGURE 5 Snapshot of the theories, models, and frameworks
developed over the last seven decades ……………………… 41
TABLES
TABLE 1 Research questions .…………………………………………… 20
TABLE 2 Scope and coverage of branch-oriented banking and
alternative delivery channels ………………………………… 32
TABLE 3 A snapshot of the article included in the dissertation ……... 54
TABLE 4 Summary of the key theoretical implications………………. 72
TABLE 5 Key factors influencing consumer behavior and attitude in
adopting and using m-banking services and applications in
Finland ………………………………………………………….. 82