Adoption of Mobile Banking and Perceived Risk in GCC

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The study deals with the adoption of mobile banking services by respondents in UAE and the perception of risk factors by them. A model was developed on the Customer Adoption Process of mobile banking. The model is validated based on the data collected using the questionnaire from a sample of 90 respondents in UAE. Factor analysis is used to evaluate and analyze the responses. Belief in technology and the value it creates are the major driving force for respondents to adopt mobile banking. Respondents perceive that mobile banking helps in proper financial planning due to continuous monitoring the transactions and time saving. Lack of privacy in the mobile banking transactions and not all banks offering mobile banking services in UAE are the major challenges perceived by the respondents for non-adoption of mobile banking. Respondents identify time risk, financial risk and performance risk as the most predominant risk factors compared to other risks in the adoption process.

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    • Figure 1. Conceptual model on mobile banking adoption
    • Table 1. Factor analysis on services respondents predominantly use in mobile banking
    • Table 2. Factor analysis on perceived ease of use by respondents
    • Table 3. Factor analysis on perceived usefulness
    • Table 4. Factor analysis on perceived benefit
    • Table 5. Factor analysis on the social risk of the respondents using mobile banking
    • Table 6. Factor analysis on the financial risk of the respondents using mobile banking
    • Table 7. Factor analysis on the privacy risk of the respondents using mobile banking
    • Table 8. Factor analysis on the time risk of the respondents using mobile banking
    • Table 9. Factor analysis on the security risk of the respondents using mobile banking
    • Table 10. Factor analysis on the performance risk of the respondents using mobile banking
    • Table 11. Attitude of respondents towards mobile banking usage
    • Table 12. Possible reasons for respondents to adopt mobile banking
    • Table 13. Possible reasons for respondents as to non-adoption of mobile banking