M-Banking Applications and paradigm shift in the Banking sector; a comparative illustration of users’ experience

Abstract

M-Banking applications have turned an innovation catalyst in banking sector. This paper portrays the change brought forward by these applications and looks into users’ experience by comparing banking applications of two major banking service providers viz. State Bank of India’s YONO and Federal Bank’s FedMobile. The study was conducted among the users in Kerala State by using purposive sampling with a sample size of 250 equally divided into both the applications. Responses were collected through structured questionnaire. Relevant statistical tools were used to analyse the data. The study concludes that there are multiple factors affecting the users’ experience. But the users don’t have same experience with different dimensions of each of the apps. One application stands better than the other in terms one parameter, but in another parameter it is not. These factors include Network/Server issues, Speed/Slow Process, Accessibility/arrangement of options, security/safety features, availability of features/services and design features.