Consumers Attitudes towards Mobile Banking in Bangladesh

Mohammad Majedul Islam1 and Md. Enayet Hossain2

1 Lecturer, Department of Marketing, University of Rajshahi, Rajshahi, Bangladesh
majedul@ru.ac.bd
2 Professor, Department of Marketing, University of Rajshahi, Rajshahi, Bangladesh
mehossain@yahoo.com
banking. The sample size was not necessarily
representative of the Bangladeshi population

ABSTRACT

as a whole as it ignored large rural population.

The aim of this study is to investigate the

This study identified two additional factors i.e.

factors influencing the consumer acceptance of

infrastructural facility and customer service

mobile

relevant to mobile banking that were absent in

banking

in

Bangladesh.

The

demographic, attitudinal, and behavioural

previous

characteristics of mobile bank users were

concerns of and benefits sought by the

examined. 292 respondents from seven major

consumers, marketers can create positive

mobile financial service users of different

attractions

mobile network operators participated in the

regulations for the expansion of mobile

consumer survey. Infrastructural facility, self-

banking services in Bangladesh. This study

control, social influence, perceived risk, ease

offers an insight into mobile banking in

of

Bangladesh

use, need for interaction, perceived

usefulness, and customer service were found

researches.

and

By

policy

focusing

addressing

makers

influencing

can

the

set

factors,

which has not previously been investigated.

to influence consumer attitudes towards

mobile banking services. The infrastructural
facility of updated user friendly technology
and its availability was found to be the most
important factor that motivated consumers
attitudes

in

Bangladesh

towards

mobile

KEYWORDS
Mobile Phone, Mobile Banking, Consumer
Attitude, Influencing Factors, and Bangladesh
Paper type Research paper

1. INTRODUCTION
Mobile banking is a system that allows
customers of mobile financial institution
(MFI) to offering banking services of
make deposits, withdraw, and to send or
receive funds from a mobile account
through a mobile device such as a mobile
phone or personal digital assistant. Mobile
banking offers services of banking like
account information; payments, deposits,
withdrawals, and transfers; investments;
ATM support; and content services.
Bangladesh
Bank
has
introduced
permissions for mobile banking on July
2011 to promote market development.
Initially five banks have responded
positively to establish active deployments
where three largest of these were launched
immediately at the time of launching and
others in early 2012. By the end of the first
quarter of 2012 the fastest early expansion
has come from bKash (Brac Bank) and
Dutch Bangla Bank Limited (DBBL).
Most retail banks in Bangladesh is
providing online banking as add-on
services to the existing branch activities
while mobile banking is in the initial stage
of implementation. This service is enabled
here by the use of bank agents that allow
mobile account holders to transact at
independent agents locations outside of the
bank branches. This involves a sequenced
set of activities includes finding and
training agents, marketing to bring
attention to the service, and acquiring
customers using know-your-customer
(KYC) and account opening processes
while at the same time helping new
customers to begin to transact.
There are 55.6 million Bank accounts are
operating through branch banking in July
2012 which is only 36% of total

population. The maximum portion of the

population is outside from banking sector.
It is certainly shows a positive sign to
intensification of the capital flows by the
introduction of mobile banking. Within
two years of operation mobile banking
customers proliferated at 7.21 million in
September 2013 [43]. Though the
increasing rate is little fast mobile banking
customers are very low considering mobile
phone subscribers penetration rate or
coverage of rural population. The mobile
phone subscribers in Bangladesh are
109.35 million [46] and 71.9% people are
living in low banking coverage are in rural
[51]. So, enormous opportunities are
waiting for the banking industry of
Bangladesh in the platform of mobile
banking service.
The existing features are primarily
beneficial for the consumers. But all the
banks are not so much aggressive to attract
their respective customers. This research
aims to investigate the factors influencing
the consumer acceptance of mobile
banking so that MFIs can improve their
facilities and make people aware for the
development of banking sector in
Bangladesh.
2. LITERATURE REVIEW
2.1 Mobile Phone Banking
M-banking involves conducting account
balance and transaction history inquiries,
funds transfers, bill payments, stock
trades, portfolio management, as well as
insurance ordering, via a mobile device
[47]. An emerging component of Mservices that could become a significant
revenue source to both banks and telecom
service providers is M-banking [34]. It
provides value for consumers, above other
banking channels, through ubiquitous

access, time convenience, and mobility [4,

29]. The degree of interest and the
willingness to pay vary for individual
services; it seems to be necessary to design
specific services taking the needs and
wishes of relevant target groups into
consideration. Banks ought to therefore
employ mobile channels with a clear
business- focus [48]. The proliferation of
mobile phone adoption, together with
advances in mobile technology, has
accelerated the development of M-services
[45, 49]. Despite its many advantages, the
use of mobile phones in banking services
is still in its and Internet banking retains its
position as the leading channel in
electronic banking [11, 25]. The
emergence of mobile banking underscores
how, occasionally, innovations emerge
from unexpected places and have the
capability of reconfiguring the significance
of a technology to its users, offering a way
to lower the costs of moving money from
place to place and opening a way to bring
more users into contact with formal
financial [6]. There appears to be no set of
clearly identifiable variables that serve as a
basis for success and that those necessary
conditions for the replication of mbanking models identified by the existing
literature to other countries around the
world do not guarantee results. Moreover,
we find that some of these conditions are
not present in countries where m-banking
models have been successful [16].
Consumer Attitude, Adoption,
Information, Environmental Influence
of Mobile Banking
2.2

The wide use of geographic, demographic,

socio-economic
and
psychographic
variables have not always been accepted as
good predictors in predicting buying
behaviour in financial services by past and

recent studies, which claimed that, the

benefits customers seek for in banking
services and/or the product attributes
should be identified instead [28, 30, 32].
Consumers motives also predetermine
consumers attitudes and behaviours
towards different banking technologies [7].
The findings increase the understanding of
customer-perceived value and value
creation on the basis of attributes of
mobile services and customer-perceived
disadvantages of mobile phones in
electronic banking context [23]. Perceived
usefulness, perceived risk, cost and
compatibility were found to affect
consumer acceptance of M-banking. The
results also support a mediation model,
whereby attitude transfers the effects of the
consumers perceptions to their intention
to use M-banking [50]. Usefulness, social
norms and social risk, in this order, are the
factors that inuence the intention to adopt
mobile banking services the most. Ease of
use has a stronger inuence on female
respondents than male, whereas relative
advantage has a stronger effect on
perception of usefulness on male
respondents. Social norms or the
importance of others in the decision, also
inuence adoption more strongly among
female respondents than male [41]. The
information and guidance offered by a
bank has the most signicant effect on
decreasing the usage barrier, followed by
image, value and risk barriers respectively.
The information and guidance showed no
effect on the tradition barrier [26].
Compatibility, perceived usefulness, and
risk are signicant indicators for the
adoption
of
m-banking
services.
Compatibility not only had a strong direct
effect but was also identied as an
important antecedent for perceived ease of
use, perceived usefulness and credibility.
Trust and credibility are crucial in

reducing the overall perceived risk of mbanking [20]. Customer value perceptions
in banking actions differ between internet
and mobile channels. It suggests that
efficiency, convenience and safety are
salient in determining the differences in
customer value perceptions between
internet and mobile banking [25]. The
framework offers an integrated view,
taking into account more predictors than
other studies on the adoption of
innovations. It was also observed that the
predictors inuence over the criterion
variable was different for each group of
mobile banking users and non-users [40].
It was found that perceived usefulness,
perceived
social
risk,
perceived
performance risk and perceived benefit
directly affect attitudes towards mobile
banking, and that attitude is the major
determinant of mobile banking adoption
intention [2].
2.3 M-banking in Emerging Markets
Chinese online and mobile bank users
were predominantly males, not necessarily
young and highly educated, in contrast
with the electronic bank users in the West.
The issue of security was found to be the
most important factor that motivated
Chinese consumer adoption of online
banking. Main barriers to online banking
were the perception of risks, computer and
technological skills and Chinese traditional
cash-carry banking culture. The barriers to
mobile banking adoption were lack of
awareness and understanding of the
benefits provided by mobile banking [22].
In Africa, m- banking is now being added
on to the services offered to existing
customers by a number of retail banks and
this is likely to continue. However,
genuinely transformational models of mbanking are few today; and they face

numerous obstacles. These include the

standard uncertainties about the pace and
scale of customer adoption, exacerbated by
the fact that low end models require higher
volumes of transactions to be viable [39].
Perception of cost, risk, low perceived
relative advantage and complexity were
revealed to be the main reasons behind the
reluctance to use the service. The inuence
of other background factors is less evident
[11]. The residents of the study site use
mobile money for a variety of transactions
related to the personal and professional
lives in Bangladesh [1]. M-banking has the
potential to bring basic banking and
electronic
transactions
services
to
unbanked consumers in developing
markets. But in enabling two-sided
markets, m-banking solutions also provide
specific questions for telecommunications
industry regulators [5]. The unbanked
require efficient utilization of varying
sources of cash inflows. Living off a cash
based economy, they receive irregular
income from occasional jobs, farm
produce, and welfare. Their limited
access to established financial channels
exposes them to financial risks and less
secure transactions [3]. To develop a good
distribution network, Vietnam Mobile
Services should build four elements into
its channel management execution
strategy: (i) engaging intermediaries to
help manage the individual stores; (ii)
ensuring that outlets were sufficiently
incentivized to actively promote the
service; (iii) maintaining tight control over
the customer experience; and (iv)
developing several different methods for
stores to re-balance their stocks [33]. In
Bangladesh, around 54% respondents
opinioned that this system is less costly
and time saving and 63% respondents felt
trust to this service. 83% respondents think
it is easier to access but this service is not

Consumers perceptions of mobile

available for interbank transaction, as well

as the absence of regulatory framework
may lead to money laundering activities
[17].

banking service attributes

3. RESEARCH OBJECTIVES

major concerns of mobile banking

In Bangladesh, mobile banking has

introduced newly in the banking sector
targeting unbanked people for the essential
money transactions. The service is
growing with increasing rate as it seems
less costly and time saving. But it has
some technological difficulties for most of
the unbanked people. Therefore, the
objectives of the study were:

to figure out the demographic

characteristics of mobile banking
users; and
to ascertain the factors influence
consumer attitudes towards mobile
banking

4. METHODOLOGY
The questions in the questionnaire were

Consumers

expectations

Demographic

and

factors,

psychological factors, social factors, and

infrastructural factors
The constructs/factors have been adopted
from existing literatures and field survey.
Among eight factors six were espoused
from

existing

literatures

those

are

Perceived Usefulness [2, 11, 13, 14, 19,

20, 21, 22, 27, 31, 36, 41, 50, 53],
Perceived Risk [2, 8, 9, 10, 11, 12, 14, 15,
18, 20, 22, 24, 26, 27, 29, 37, 38, 41, 42,
44, 50, 52], Self-Control [22], Perceived
Ease of Use [2, 11, 13, 14, 41, 50], Need
for Interaction [12, 14, 41, 50], and Social

based on review of literatures and the

Influence [2, 14, 18, 41]. Along with the

specific characteristics of Bangladeshi

six factors field survey had found another

people & market context. The specific

two factors named Infrastructure Facility

characteristics

(22% Respondents), and Customer Service

represented

different

services and facilities provided by the

(17% Respondents).

MFS institutions and expected by the MFS

The field study was carried out in June

consumers

The

2013 using empirical data. The sample size

questionnaire was translated into Bengali

decisions were primarily based on cost

language to make clear and simple to

considerations and in line with studies on

understand by every respondent. The items

consumer attitude and acceptance of

in the questionnaire were constructed

mobile banking, where sample sizes used

based on the consumer attitude and

were between 114 to 1,167 respondents. A

acceptance of mobile banking focusing:

total 292 respondents from six divisions of

of

Bangladesh.

Consumers attitudes and reactions

to mobile banking services

Bangladesh, including capital city, Dhaka,

were collected randomly at the time of

transaction from MFS agent stores through

the error of the estimates and also to purify

interview. Respondents verbally replied to

the data. The demographic profile and

their

mobile banking history of the respondents

answers were recorded accordingly by the

are summarized in Table 1. Most of the

interviewers.

respondents were at 18 to 25 years age

The analysis was performed using eight

range (62.7%), which implies that mostly

factors to rank their relative significance

students (55.1%) are using MFS for

and to describe their influences consumer

mobile banking. Male and female ratio of

acceptance on MFS of the respondents.

the respondents was 84.6% and 15.4%

Likert scale was used ranging from 1 to 6

respectively.

response categories where 1 denotes dont

It indicates female respondents are less to

know, 2 = not good, 3 = not so good, 4 =

operate mobile banking directly. Income

good, 5 = very good, and 6 = excellent. As

range of the respondents is less than BDT

far

were

10,000 and they are covering most of the

concerned, principal factor analysis was

regions of Bangladesh except Barisal

performed. In this study, the correlation

(2.1%). Mobile banking users are having

matrix was used to obtain Eigen values. To

mostly Dutch Bangla Bank Ltd. (DBBL)

facilitate

the

loading,

VARIMAX

structured

as

questionnaire

scale-based

and

variables

interpretation

of

factor

and bkash account for using MFS which is

rotation

was

45.9% and 46.9% respectively where they

performed. SPSS software version 18 was

are favouring Grameen Phone (GP) at

used for analysing the data.

66.1% as MNO subscription. Respondents

5. DATA ANALYSIS AND RESULTS

5.1 Descriptive Statistics

have opened mobile banking account

mostly for easy money transfer (82.2%)

Demographic characteristics of the study

for personal need (83.6%) of money

were investigated in regards to the

receive or payment, and doing maximum

respondents gender, age, occupation,

five transaction (65.8%) in a month.

income, residence region, mobile financial

In Table 2 the descriptive statistics of

services (MFS) account, mobile network

different

operator (MNO) subscription, reason for

presented with factor coefficients of

MFS account, monthly MFS transaction,

selected eight factors. The factor loadings

and purpose of MFS transactions. Missing

indicate the highest correlations between

values, outliers, and distribution of all the

variables and corresponding factors.

measured items were conducted to avoid

individual

items

has

been

Table1. Demographic profile and mobile banking history of the respondents.

Demographic
Characteristics
Gender

Age

Occupation

Monthly
Income
(BDT, 1$=78 BDT)

Residence
Region

MFS Account

Mobile Network
Operator

Reasons Behind
MFS A/C

Number of Monthly
Transaction
Purpose of
Transaction

Male
Female
< 18 Yr
18-25 Yr
26-30 Yr
> 30 Yr
Student
Business
Service
Agriculture
< 10K
10-20K
21-30K
>30K
Barisal
Chittagong
Dhaka
Khulna
Rajshahi
Rangpur
DBBL
bKash
TRUST
MERCENTILE
PRIME
NCC
ISLAMI
Grameen Phone
ROBI
AIRTEL
Bangla Link
Tele Talk
City Cell
No Bank A/C
Easy Money
Transfer
No Bank
at Locality
Purchase through
Mobile
Low Charge than Bank
<1
1 -- 5
6 -- 10
> 10
Business
Personal

Cumulative
%

Frequency

Valid %

247
45

84.6
15.4

23
183
49
37

84.6
15.4
7.9
62.7
16.8
12.7

7.9
62.7
16.8
12.7

84.6
100
7.9
70.5
87.3
100

161
50
67
14

55.1
17.1
22.9
4.8

55.1
17.1
22.9
4.8

55.1
72.3
95.2
100

185
59
36
12
6
48
47
61
81
49
134
137
5
2
6
2
6
193
48
17
27
4
3
32

63.4
20.2
12.3
4.1
2.1
16.4
16.1
20.9
27.7
16.8
45.9
46.9
1.7
0.7
2.1
0.7
2.1
66.1
16.4
5.8
9.2
1.4
1
11

63.4
20.2
12.3
4.1
2.1
16.4
16.1
20.9
27.7
16.8
45.9
46.9
1.7
0.7
2.1
0.7
2.1
66.1
16.4
5.8
9.2
1.4
1
11

63.4
83.6
95.9
100
2.1
18.5
34.6
55.5
83.2
100
45.9
92.8
94.5
95.2
97.3
97.9
100
66.1
82.5
88.4
97.6
99
100
11

240

82.2

82.2

93.2

12

4.1

4.1

97.3

0.7

0.7

97.9

6
47
192
36
17
48
244

2.1
16.1
65.8
12.3
5.8
16.4
83.6

2.1
16.1
65.8
12.3
5.8
16.4
83.6

100
16.1
81.8
94.2
100
16.4
100

Infrastructural Facility (IF). Thus, these

The greater the coefficients, the more the

variables were considered as group. As all

variable are pure measures of factor. For

of these variables were related to network

instance, VGN, SAE, ACS, NPN, and

& basic mobile banking platform, this

EAM show the highest correlations with

group named as Infrastructural Facility

Table2. Descriptive statistics of the variables.

Factors
IF
(Infrastructural
Facility)

SC (SelfControl)

SI (Social
Influence)

PR (Perceived
Risk)

EoU (Ease of
Use)

NFI (Need for

Interaction)
PU (Perceived
Usefulness)
CS (Customer
Service)

Item

Item Name

Mean

VGN
SAE
ACS
NPN
EAM
IU
USM
CDO
PF
AMB
CAI
PIU
FNFI
MPU
NAM
NMD
ECA
MSC
NSR
FMT
ATM
EAO
ATB
WPO
WUO
FNFS
AAT
AWB
ICS
ETS

Very Good Network

Service Available in Everywhere
Available ATM and Customer Service
No Problem in Network
No Difficulty in Account Manage
Independently Use
Use Self Mobile Phone
Can do like others
Purchase Facility
Lot of Advertisement for MBanking
Customer Agent Influence for MBanking
Profession Influence to Use MBanking
FNF Influence to Use Mobile Banking
Many People Use Mobile Banking
Not Available Money at Customer Agent
Network Most time Down
Extra Charge taking by Customer Agent
More Service Charge
No Service in Remote Areas
Fast Money Transfer
ATM Use without Bank Account
Easy Account Opening
Anytime Banking
Wants to Purchase like others
Wants to Use like others
Available Support from FNF
Any Amount Transfer
Anywhere Banking
Immediate Support Available from CS
Easy to Solve Wrong Transaction

3.90
3.98
3.92
3.91
4.78
3.87
3.64
4.14
3.64
4.26
3.88
4.19
4.10
4.27
4.20
4.01
4.17
4.2
4.16
5.31
4.22
5.08
5.09
4.56
4.92
4.44
4.39
4.68
3.73
3.44

Similarly, IU, USM, CDO, and PF show

Std.
Deviation
1.080
1.460
1.311
1.144
1.069
1.525
1.555
1.304
1.579
1.337
1.298
1.429
1.272
1.341
1.355
1.349
1.388
1.485
1.404
0.868
1.638
0.981
0.945
1.259
1.064
1.030
1.315
1.059
2.249
1.455

Factor
Loading
0.789
0.746
0.655
0.608
0.471
0.820
0.737
0.690
0.564
0.761
0.694
0.667
0.608
0.527
0.766
0.690
0.679
0.636
0.647
0.555
0.552
0.518
0.406
0.697
0.694
0.456
0.746
0.687
0.745
0.688

Cronbach's
Alpha

0.746

0.762

0.754

0.721

0.549

0.558
0.409
0.417

highest correlations with Self-Control;

5.2 Measures of Sampling Adequacy

This study has used KMO and Bartletts

AMB, CAI, PIU, FNFI, and MPU with

Test to examine the accuracy of sample.

Social Influence (SI); NAM, NMD, ECA,

The result of Kaiser-Meyer-Olkin Measure

MSC, and NSR with Perceived Risk (PR);

shows that the current sample is adequate

FMT, ATM, EAO, and ATB with Ease of

for factor analysis. Table 3 shows the

Use (EoU); WPO, WUO, and FNFS with

current data yield about 78.7% accuracy at

Need for Interaction (NFI); AAT and

1% level of significant for the said

AWB with Perceived Usefulness (PU);

analysis.

and ICS and ETS have highest correlation

with Customer Service (CS).

Table3. KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of
Sampling Adequacy.
Approx. ChiSquare
Bartlett's Test of
df
Sphericity
Sig.

ATB and FMT have scored 0.454 and

0.787

0.364 respectively those were kept as these

are basic attributes of mobile banking

2512.336

service. The score was low due to

435

introduction stage of the services in

.000

Bangladesh. The other 28 items having 0.5

or more commonalities score have been
accepted for further analysis. Since data

5.3 Scale Reliability

There are thirty items have been
considered for the study. Multi-item scales
(Six Point Likert Scale) response format
has been used to operationalize each
individual item of the questionnaire. The
overall measurement for contextually
formatted items is described in Table 4.
Result shows that scales used for the data
collection are reliable with highly
recommended alpha score (a0.825) which
is within the range of good scale reliability
[35].

have been collected from field survey,

author has considered current score level
for 30 items included in eight factors.
5.5 Scree Plot
In this study examines the optimal number
of

items

using

scree

plot.

This

demonstrates the distribution of variance

among the components. For each principal
component, the corresponding Eigenvalue
is plotted on the y-axis. The Eigenvalue of

Table4. Reliability statistics of items

each item in the initial solution is plotted

Cronbach's
Alpha
0.825

Cronbach's Alpha
Based on
Standardized Items
0.835

N of
Items
30

in the figure below. Figure shows that the

variance of each component is less than
the proceeding one. The sharp fall is

5.4 Extraction communalities

This study has examined communalities of

marked till fifth principle component and

each variable accounted for the research.

fourth components. It is known that

Initially 34 items were approached for this

components

test. This study did not find absolute

contribute little to the solution. Thus, it can

commonalities score for all items. Hence,

choice first four five principal components

four items (scored less than 0.5) have been

for

dropped from the data set. But, two items

towards mobile banking in Bangladesh.

last big drop occurs between third and

on

understanding

the

shallow

consumer

slope

attitude

Figure 1. Scree plot

5.6 Variance
The study identifies 30 items from initially
approached 34 items that are important to
measuring consumer attitudes towards mobile
banking in Bangladesh. All 30 items are
selected based on Eigenvalue - value 1 or
above includes into the list of items.
Statistically 30 items construct eight factors
which can explain 58.14% of the field. So, this

study considers these factors are important for

the study. Factor-1 explains 19.087% having
Eigenvalue of 5.726 and Factor-8 explains
3.612% with Eigenvalue 1.084 as lowest
(Table 5). Hence, factor-1 is the most
important in the current study which is related
to the infrastructural development of mobile
financial services in Bangladesh.

Table5. Eigen value and variability of the retained factors.

Factors
Eigen values
Variability
Cumulative %

IF
5.726
19.087
19.087

SC
2.616
8.722
27.809

SI
2.16
7.201
35.009

Pearson correlation coefficients of all factors

represents in Table 6. Here, considerable

PR
1.723
5.744
40.753

EoU
1.514
5.048
45.801

NFI
1.339
4.465
50.266

PU
1.278
4.259
54.525

CS
1.084
3.612
58.137

numbers of correlation coefficients among

factors are significant (p 0.01 or p 0.05).

Table 6. Pearson correlation coefficients among all factors

Factors
IF
SC
SI
PR
EoU
NFI
PU
CS

IF
1
.308**
.329**
-0.011
.329**
.277**
.250**
.211**

SC

SI

PR

EoU

NFI

PU

CS

1
.446**
.121*
.444**
.342**
.202**
.202**

1
0.053
.323**
.440**
.184**
0.1

1
.147*
0.082
0.007
0.027

1
.269**
.347**
.226**

1
0.097
.133*

1
.170**

Notes: **. Correlation is significant at the 0.01 level (2-tailed). *. Correlation is significant at the 0.05 level (2tailed).

5.7 Exploratory Factor Analysis

As result shows in Table 2, eight factors were
initially formed considering 30 variables to
influence consumer attitudes towards mobile
banking in Bangladesh. Factor analysis was
conducted to know the underlying factor
associated with all 30 variables. This study
exposes that consumer attitudes towards mobile
banking in Bangladesh is highly influence by
four factors i.e. infrastructural facility, selfcontrol, social influence, and perceived risk and
other four factors (ease of use, need for
interaction perceived usefulness and customer
service)have less alpha score than significant
level. But this study considers also the factors
having less Cronbachs alpha score as these have
high factor loading score. Again, the mobile
banking services are newly introduced in
Bangladesh and most consumers are not well
known about all measures. The eight factors are
briefly discussing in following paragraphs:
Infrastructural Facility: This study has
identified that infrastructural facility has high
influence on mobile banking attitude in
Bangladesh. This factor constitute with five
items - Very Good Network, Service Available
in Everywhere, Available ATM and Customer
Service, No Problem in Network, and No
Difficulty in Account Manage. This factors
Cronbachs Alpha 0.746 is quite satisfactory
within acceptable level (0.70 or above)[35].
However, the factor loading score for each item

is within the acceptable level (from 0.471 to

0.789).
Self-Control: Mobile banking influence by the
self-control on mobile technology of the
consumers in Bangladesh. This factor constitutes
with four variables with good factor loading
score range from 0.564 to 0.820. The Cronbachs
Alpha 0.762 is within the acceptable level.
Social Influence: Consumers using mobile
banking services in Bangladesh are highly
influenced by interpersonal & external forces of
the society. This study identified five variables to
construct social influence for forcing mobile
banking services use. The factor loading score
for all five items are range from 0.537 to 0.761
and Cronbachs Alpha 0.754 is at acceptable
level.
Perceived Risk: The factor perceived risk
creating difficulties on mobile banking attitudes
of consumers in Bangladesh. It has constructed
by five items with very good factor loading score
ranging from 0.647 to 0.766. Again, the
Cronbachs Alpha score 0.721 is positioning
within acceptable level.
Ease of Use: This study explores ease of use of
the technology for mobile banking has
influenced on consumer attitudes towards mobile
banking services in Bangladesh. This factor has
constructed by four items those have factor
loading score ranging from 0.406 to 0.555 and

the Cronbachs Alpha value 0.549 is almost

acceptable level.
Need for Interaction: The factor need for
interaction influence consumers on positive
attitude towards mobile banking services in
Bangladesh. It has three variables having factor
loading score ranging from 0.456 to 0.697 and
Cronbachs Alpha value 0.558 which is nearest
to acceptable level.
Perceived Usefulness: Perceived usefulness is
another factor to influence consumers attitudes
towards mobile banking services in Bangladesh.
This factor has only two variables with low
Cronbachs Alpha 0.409 but high factor loading
scores of 0.687 and 0.746.
Customer Service: The last factor is customer
service is the specific factor to influence
Bangladeshi consumers to show positive or
negative attitudes towards mobile banking
services. This factor also has only two variables
with low Cronbachs Alpha 0.417 but high factor
loading scores of 0.688 and 0.745.

6. GENERAL DISCUSSION
The primary theoretical contribution of this study
is the identification of factors that can be used to
enlighten and foretell consumers attitudes
towards mobile banking, particularly within the
Bangladesh context. This research also creates a
research interest on mobile banking for the
business researchers. Secondly, two additional
factors (infrastructural facility and customer
service) relevant to mobile banking that were
absent in previous researches were identified.
Finally, by investigating consumers attitudes
towards mobile banking within the Bangladesh
context, this study answers the call for additional
research to different fields of mobile banking
services.
This study found only 6.58% having mobile
banking account on mobile phone subscriptions
and 9.14% on rural population those are

relatively very low penetrations compare to other

emerging markets in the world. It indicates that
there is a huge scope of mobile banking in
Bangladesh and Banks and MNOs have massive
business opportunity. Again, the consumers of
this country are focusing highly on
infrastructural facility as a force to make their
intention to use mobile banking services. It is
suggested that along with others six factors
infrastructural facility is the most important
factor for Bangladeshi consumers and they also
concern on customer service facility of mobile
banking. Thus, by addressing the concerns of
and benefits sought by the consumers, marketers
can create positive attractions and policy makers
can set regulations for the expansion of mobile
banking services.
7. LIMITATION AND CONCLUSION
The sample size of this study was not necessarily
representative of the Bangladeshi population as a
whole as it ignored large rural population.
Secondly, the generalizability of this research
may be impacted by fact that the samples is
skewed towards males. This may be due to
general tendency of Bangladesh culture to do
outside tasks by maximum males. In addition,
this research only explores the factors to
influence motivators and inhibitors on behavioral
intentions. In terms of future research, a large
scale study with more representative sample
could be conducted to validate the factors of this
study and to enhance the generalizability of the
research conclusions.
Mobile banking services is very new to
Bangladeshi consumers and it is still at early
stages in Bangladesh. The current target market
for mobile banking is relatively small due to the
lack of updated user friendly infrastructural
facility. There is a good potential for introducing
mobile banking services. This research has
served to enhance the understanding of the
factors influencing consumers attitudes towards
mobile banking in the context of Bangladesh. It
has demonstrated that there were multiple factors

at work for influencing the consumers and that

some are more influential than others under
given circumstances. The knowledge gained by
this study into the motivators and inhibitors of
mobile banking is useful for practitioners who
aim to maximize consumer adoption of this selfservice banking service.

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