engleski

Identification of mobile banking users and their motivations

In 1994, Microsoft founder Bill Gates stated “Banking is necessary ; banks are not”. He predicted the direction in which the banking market was going to move and what that would mean for banks. Today, we are watching these predictions unfold and become a reality. Banks, like any other company or institution, are participants and drivers of economic globalisation and must adapt to the changing landscape for financial services in the digital age. Several global trends have forced banks to redefine how they operate, among them demographic, social, economic and technological changes. Demographic and social changes have created a new generation of customers with different needs and wants. Economic changes have brought new market participants, while technological change refers in particular to digitalisation. The purpose of this paper is to identify the characteristics of mobile banking users in Croatia and to define the influence of three key characteristics of mobile banking, i.e. flexibility, security and finance management, on consumers’ motivation to adopt mobile banking. The banking system is slow to adapt to the emerging market trends, in particular to a customer-centric paradigm. To shift to the new paradigm and face the challenges of the digital age successully, banks must gain a deeper understanding of their customers first. This paper aims to identify what motivates consumers to use mobile banking services and their attitudes towards the various aspects of mobile banking. The results show that mobile banking users in Croatia are not overly concerned about the security of mobile applications, but appreciate their flexibility compared to online and traditional modes of banking, and find that they manage their finances more efficiently.

mobile banking, banking, digitalisation of banks, consumer motivation

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