Factors Affecting User Acceptance of Mobile Banking Applications in Sri Lanka

Abstract

In Sri Lanka, numerous banks are beginning to provide financial services via mobile. However, there is a limited number of studies examining the factors affecting user acceptance of m-banking applications. The purpose of this research is to find the problems in existing m-banking applications in Sri Lanka, gather factors affecting the user acceptance of M- banking applications, and collect suggestions from the users on mobile banking applications in Sri Lanka. The researchers are surveyed by using a google form which includes fifteen questions. The sample size of this research is seventy-five. According to the results of the survey, there are various issues in existing mobile- banking applications such as complex user interface, annoying security processes such as complicated steps to follow once the password is forgotten, application not functioning well, slow, language problems, connection problems, the application is being stuck and issues in taking screenshots. So when building a mobile application the banks should consider these problems to make sure the users can use the mobile banking application accurately and efficiently. It is very important to gather suggestions from users, As stated in the results of the survey, the responders have suggested that when building a mobile- banking application there should be some features such as an understandable and simple interface with simple icons, voice commands, and voice explanation with enabling a way that explains the features of the banking application, using simple language with different language options, personalization, enabling notification facility, userfriendliness, simplicity, and enabling authentic security with simple steps and enabling Chabot. The researcher has concluded that when creating a mobile-banking application the simplicity of the interface, using simple language with different language options, and good security with simple steps to follow are the most important factors.