The Study of Borrowing Behaviour in Mobile Banking Application in Thailand

Abstract

          The objectives of this research are 1) to study the relationship between demographic factors and borrowing behaviour in mobile banking application in Thailand. 2) to evaluate consumer satisfaction with marketing mix through mobile banking application in Thailand. The sample consists of 400 borrowers who used to get loan through mobile banking application in Thailand.
          Using Chi-square statistic test, there is a significant relationship between demographic factors and borrowing behaviour in mobile banking application at the significance level of 0.05 as follows: 1) age, occupation, income, marital status, and education are related to loan purpose. 2) sex, occupation, income, marital status, and education are related to information channel. 3) sex, occupation, income, and education are related to types of recent loan approval. 4) income is related to which mobile banking application is used the most 5) sex, age, occupation, income, marital status, and education are related to the recently approved loan amount. 6) income and education are related to loan payment channel. However, the findings do not show that demographic factors are significantly related to the reasons to get mobile bank loan, frequency of borrowing, and time to borrow. According to marketing mix evaluation result, price is ranked first for customer satisfaction, followed by people, process, place, promotion, physical evidence and product.

This study suggests that to develop marketing mix strategy, bank should focus on product strategy by increasing types of loans offered in mobile banking application to be the same as bank branch and concentrating on males in home and car loans markets. Bank should also offer a higher credit limit. For physical evidence strategy, mobile banking application developers should adjust the application format to be beautiful and make the icons of various functions within the mobile banking application to be easy to use. For promotion strategy, bank branch should be supported to conduct more public relations.