Customer Satisfaction towards Mobile Banking Services: Evidence from Madhya Pradesh, India

Abstract

The purpose of the study is to determine the factors that lead to customer satisfaction towards mobile banking services provided by selected banks in India. Data collected from 315 respondents from both public and private sector banks were used to test the hypothetical model using a well-structured questionnaire. The results suggested that the such as awareness of online banking services, security, convenience, self-efficacy, transaction cost and time, and ease of use influence customer satisfaction. Results of multiple regression showed that out of the above-mentioned six factors, awareness of online banking services, security, convenience, transaction cost and time, and ease of use are found to be statistically significant at with customer satisfaction, while self-efficacy shows insignificant results. The study has a regional bias since the respondents belong to the state of Madhya Pradesh, central India. Taking findings into consideration, strategies could be drawn by the bankers to spread their businesses, as a large portion of the population in India is still not using banking services. Thus, the study is quite helpful for the policy makers for developing appropriate strategies for positioning themselves in the competitive marketplace.