ABSTRACT
The present study aims at understanding and analyzing the COVID-19-induced behavioral change spurting artificial intelligence (AI) adoption in Indian banking industry. The study has further identified and analyzed the usage pattern of Indian customers for mobile banking/online banking services in the pre-pandemic phase and progression of Indian customers for mobile banking/online banking services during the pandemic. Secondary data has been used for deep understanding of the AI adoption in Indian banking industry, with reports from McKinsey, PWC, RBI, NPCI, BIS, etc., to form the base. The period of study was taken from 2016 to 20, and this was taken keeping in mind the timing of another unprecedented event of demonetization. Behavioral change of Indian banking industry customer was assessed on three broad parameters change in value and volume of mobile banking transactions on year on year basis. COVID-19-induced behavioral change translating in massive jump of 178% in volume of mobile transactions between March 2019 and 2021. The increase in number of smart phone users and access to connectivity and desired technology has helped the cause. With 2020–21 punctuated by several nationwide as well as localized lockdowns adoption of AI for customer engagement has been crucial for Indian banking industry, which has further translated in to designing and customizing products and risk profiling of customers further resulting in increased operational efficiency and intuitive decision making. The behavioral change induced by COVID-19 in the Indian baking industry achieves competitive advantage by truly responding to huge customer data base which has been utilized by other financial industries as now it can have systems which understand and are responsive to behavior of varied customers. From responses feeded chatbots to intuitively responsive AI bots, the customer engagement is going to be a whole new experience which will help in customer acquisition and retention. Further, with falling data storage costs, increasing processing speeds and capabilities and improved connectivity and access for all has helped the rapid automation and AI adoption. Enterprise level adoption of AI has led to revenue generation and optimization of functional resources this reducing the cost at functional level. The AI adoption has been continuous from the banks over the years though banks have started to harness its potential in the recent years with customers adoption of smart hand-held devices. © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2023.
ABSTRACT
The Covid-19 pandemic has changed the way people transact from physical bank to mobile banking transactions. The banks as financial companies are competing to offer the best service for mobile banking. Failure to fulfill consumer needs can damage a bank's reputation, profitability, and lead to gradual loss of customers. Hence, the bank needs to know its performance by measuring customer satisfaction. This study is aimed to know customer satisfaction of mobile banking using sentiment analysis. Sentiment analysis was conducted using data from Twitter, knowing that Twitter is a widely used media social with text-based content. The collected data was then predicted using the Support Vector Machine (SVM) model to get a positive or negative sentiment. From the model training result, this model achieved 92.5% of accuracy. The research analyzes customer satisfaction using sentiment analysis of BCA Mobile, Livin' by Mandiri, BRI Mobile (Brimo), and BNI Mobile. Brimo received the greatest percentage of positive sentiment compared to other platforms. Livin' by Mandiri and Brimo had a serious issue regarding its reliability. BCA Mobile should be more concerned regarding its usefulness. Meanwhile, BNI Mobile should have been more worried about its platform responsiveness. © 2022 IEEE.
ABSTRACT
Purpose: The study has two aims: first, it aimed to investigate the impact of contextual factors (such as information quality, service quality, system quality, trust in applications (app) and COVID-19 health anxiety) on the intention to use the Mobile Payment (MP) app, and subsequently, the actual use of the app. Second, the aim of this study is whether the COVID-19 threat has a moderating influence on the relationship between customers' intent to use MP app and the actual use of MP app. Design/methodology/approach: The data are collected through an online survey from 341 Mobile Banking (MB) app users from Pakistan to empirically analyze the relationship between service quality, system quality, information quality, trust in the app, COVID-19 health anxiety and COVID-19 threat, intentions to use MB-app and actual use of MB-app. Findings: The empirical analysis of the data collected from MB-app users from Pakistan shows that service quality, system quality, information quality, trust in the app and COVID-19 health anxiety positively related to intentions to use MB-app, consequently affect the actual use of MB-app. Furthermore, the results demonstrate that the COVID-19 threat positively moderates the relationship between intentions to use MB-app and actual use of MB-app. Originality/value: Although, prior research established a positive impact of mobile apps on customer service and consumer satisfaction. Yet, it is not clear which factors influence customers to adopt MB-app. This study contributes to the research on MB-apps based on adaptive structuration theory and examines the technological factors and contextual factors that collectively explain when and how individuals decide to adopt MB-app. © 2022, Emerald Publishing Limited.
ABSTRACT
Smartphones are having such a huge impact to our society and in our daily lives. However, most smartphone applications are not that user-friendly for a senior-aged person. Due to the COVID-19 pandemic, everything now is done online including mobile banking services. There are seniors who refuse to use mobile banking applications in Malaysia because they are not familiar nor comfortable with the app's interface and flow. This study aims to perform a need analysis on user interface and user experience (UI/UX) design for Malaysian seniors when using a mobile banking app. A questionnaire was used in this research as a quantitative research tool, involving 36 respondents aged 55 years old and above, and currently a resident of Sarawak. The questionnaire is split into 5 sections, i.e., demographic, technology background, task, task rating, and preferences. We observed that 'Fast loading time' is ranked as the most important feature with the highest mean value of 5.0. The least important feature is 'Payment via QR Code' with a mean value of 2.7. Our findings can be used as a basis to prioritize features when designing a mobile banking app to accommodate senior users. © 2021 IEEE.