Factors Affecting Consumers’ Adoption of Mobile Banking in Bangladesh: An Empirical Study

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Mirza M. D. Alam

Abstract

Tremendous growth in mobile penetration among the people of Bangladesh has created an immense opportunity for banks to extend their investment in developing mobile banking system. Though more than 95 percent bank account subscribers are cell phone users, the adoption of mobile banking is slower than expected. In this connection, this study employs the Unified Theory of Acceptance and Use of Technology (UTAUT) model to identify the factors affecting individuals in their adoption of mobile banking in Bangladesh. Data had been collected from 225 respondents through self-administered questionnaire. Based on data analysis, this study empirically found that individual intention to adopt mobile banking was significantly influenced by social influence, effort expectancy, performance expectancy, and perceived financial cost, in their order of influencing strength. The behavior was considerably affected by individual intention in this regard.

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References

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