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The rapid pace of advancements in mobile technology world has imposed several challenges on financial institutions to provide a convenient, easy-to-use, and useful mobile platform. Mobile banking (MB) has emerged to enable customers perform banking transactions on the go. Specifically, MB is the use of a mobile device (e.g. Smartphones) for conducting banking transactions such as making payment, transferring fund, and checking balance (Crowe, Tavilla, & McGuire, 2015). It is notable that not all MB apps have the same level of banking services offered; those banks with advanced services addressing customers’ concerns and preferences are more likely to sustain their market shares, leading to a higher competitive advantage. MB becomes a necessity and inevitable source among customers; hence, it should have greater attention and be included as a strategic pillar in the business model for a higher return on revenue.
MB has become very popular due to the easy access of banking services anytime and anywhere. As per the recent study from Citi (Weis, 2018), 81% of the people prefer to use MB for managing their money as well as 91% of MB users prefer to use the app instead of going to the branch. However, this surge of MB adoption comes with a considerable burden on banks in which they need to manage to stay competitive. With this increased demand on MB, several aspects may need further attention, for example, services to be more convenient, productive, and customized as well as the digital environment to be more safe and secure. This could help banks to provide a better banking experience to increase their customers’ satisfaction, which in turn leads to higher MB continuance intention. Continuance intention of using MB can be a major indicator of loyalty (Hew, Lee, Ooi, & Lin, 2016), which is a bottom-line goal for all banks.
Adoption and usage of MB have been abundantly researched (Riquelme & Rios, 2010; Koenig-Lewis, Palmer, & Moll, 2010; Lin, 2011; Aboelmaged & Gebba, 2013; Oliveira, Faria, Thomas, & Popovič, 2014; Hanafizadeh, Behboudi, Koshksaray, & Tabar, 2014; Albashrawi, Kartal, Oztekin, & Motiwalla, 2019). MB continuance intention has a greater value than MB adoption because it can measure customers’ loyalty (Hew et al., 2016); nonetheless, it lacks investigation in MB literature. Few studies have focused on MB continuance intention, for instance, Chen (2012) with his self-developed model has examined the impact of technology readiness, risk, and quality on continuance intention with Taiwanese MB users. Yuan, Liu, Yao, & Liu (2014) has integrated three acceptance models to explore Chinese’s continued intention of using MB. Albashrawi and Motiwalla (2017) have investigated the effect of privacy and personalization on continuance intention of US MB users. On the other hand, customization and security have been overlooked in MB literature despite the important role they can play in an electronic platform in terms of providing more convenience and leveraging higher trust among customers as indicated in online environment (Devaraj, Fan, & Kohli, 2006), in banking sector (Coelho & Henseler, 2012), and in online shopping (Guo, Ling, & Liu, 2012). This has motivated us to explore their impact on a MB platform.
This study can theoretically contribute through investigating the impact of customization and security as moderating factors on MB users and proposing a higher-order construct of efficiency quality, formed by TAM’s two pillars; perceived usefulness and perceives ease of use. Also, it can practically contribute through revealing insights to banks on how to improve their MB services to increase customers’ satisfaction and consequently their continuance intention of using MB.