A Conceptual Framework of Social Media Influence on Mobile Banking Usage Among Young Indian Consumers
With the advances in technology, consumers have equally shown positive inclination towards the adoption of the same on the premise of their saved time and energy and more so they have identified these technological advancements as a precursor to enhanced
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Abstract. With the advances in technology, consumers have equally shown positive inclination towards the adoption of the same on the premise of their saved time and energy and more so they have identified these technological advancements as a precursor to enhanced quality of life as a whole. Mobile banking is one such technology which has gained immense acceptance amongst its consumers. However, there is a need to gain an insight of mobile users’ attitude towards mobile banking if it has to replace the traditional ways of banking in eternity. There is no denying to the fact that Social Media has played the role of an immensely powerful arbitrator in orienting consumers towards mobile banking. This conceptual paper thereby attempts to seek the role of Social Media towards various stages of consumers’ attitude in accepting such technologies such as mobile banking in India. Through this paper we intend to build a framework which identifies the role of social media in the transition of mobile banking consumers from one stage of cognitive process to the other. The work primarily addresses young consumers for their being the early influencers of social media. The paper is expected to contribute towards decision making of the government agencies, mobile operators, financial institutions and researchers. Keywords: Mobile banking India
Attitude Social media Young consumers
1 Introduction Mobile phones have witnessed an exponential pattern of usage during the last decade and one of the distinctive and prominent usages of Mobile phones that has completely revolutionised the nature of transaction is Mobile banking (MB) owing to the technological innovations and the user-friendly software packages developed over the years. It is therefore precedented and desired that the government, the banks and the mobile operators work in alignment towards enabling mobile banking services for their customers and give way to mobile banking which can emerge more dynamically as one of the breakthrough revolution technologies in banking to provide a complete digital environment to the consumers. Changing consumer behaviour always takes a reasonable amount of time and there are instances when consumers are attracted to such technologies however refrain from actual usage. Thereby, it is imperative that the mobile operators understand the © IFIP International Federation for Information Processing 2020 Published by Springer Nature Switzerland AG 2020 S. K. Sharma et al. (Eds.): TDIT 2020, IFIP AICT 618, pp. 444–450, 2020. https://doi.org/10.1007/978-3-030-64861-9_39
A Conceptual Framework of Social Media Influence
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acceptability and usability pattern among consumers in order to sustain the continuous usage of mobile banking. There have been many studies which have tried to explore behavioural intention and intention to use mobile banking through various technology acceptance models (Sharma 2017; Liebana-Cabanillas and Lara-Rubio 2017; Riffai et al. 2012; Lee and Chung 2009). Researchers have also focused on the continuous usage of the
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