CHAPTER ONE

1.1 Background of the Study

Electronic banking, or e-banking, refers to the provision of banking services through electronic channels such as
computers, televisions, telephones, and mobile phones. It encompasses various delivery means, including telephone,
PC, and the Internet, offering services like PC banking, Internet banking, managed network, and TV-based banking.
Mobile banking, on the other hand, involves consumers using the Internet to access their bank accounts and conduct
transactions. It has transformed traditional banking techniques and is gaining worldwide acceptance.

The evolution of mobile banking began with the use of ATMs, and Finland was the first country to lead in mobile
banking. While electronic banking has been widely used in developed countries, its diffusion in African countries has
been slow due to unique challenges. In Ethiopia, banks still rely on traditional teller-based methods due to
infrastructural limitations and the newness of e-banking technology.

The purpose of this research is to assess the factors that influence customers' adoption of mobile banking.
Understanding these factors is crucial for banks to improve mobile banking adoption by their customers and to
address their concerns effectively.

1.2 Statement of the problem

The study aims to identify the factors affecting the adoption of mobile banking in Ethiopia, considering the specific
context and challenges of the country. It addresses the lack of comprehensive research on various factors influencing
the adoption of mobile banking technologies in Ethiopia, as well as the scarcity of research on the factors of customer
adoption of mobile banking in developing countries like Ethiopia.

The research questions include:

1. What is the practice of mobile banking usage technology?

2. What are the major factors affecting mobile banking usage among customers?

3. What are the major demographic factors for the adoption of mobile banking usage?

4. What are the major technological factors that affect the adoption of e-banking technology?

5. What are the environmental factors for the adoption of e-banking technology?

Several studies have been conducted to improve the situation, focusing on factors such as performance expectancy,
habit, hedonic motivation, price value, facilitating conditions, security risk, lack of trust, legal and regulatory
framework, ICT infrastructure, and competition between local and foreign banks. However, there is still a need for
more comprehensive studies to assess the factors affecting mobile banking adoption in Ethiopia.
1.3. Objectives of the study
1.3.1. General Objective
The general objective of the study is an assessment of factors affecting customer adoption of mobile banking in the
case of Oromia banks in Ambo Town.

1.3.2 Specific Objectives

1. Identify the practice of mobile banking technology.

2. Determine the major factors that affect mobile banking among customers.

3. Identify the major demographic factors that affect the adoption of mobile banking.

4. Identify the major technological factors that affect the adoption and development of mobile banking services.

5. Identify the environmental factors that affect the adoption and development of mobile banking services.

1.4 Significance of the Study

 Recognize factors influencing mobile banking adoption by customers in Ethiopian commercial banks.
 Assist practitioners in Ethiopian banks to improve deposit mobilization and profitability through e-banking
channels.
 Address the needs of bank customers and improve service quality.
 Provide input for strategic decisions in fostering e-banking adoption.
 Customize and present mobile banking services according to customers' desires to capture and retain more
customers.

1.5 Scope of the Study

Focused on assessing factors affecting customers' adoption of mobile banking at Oromia Bank in Ambo town due to
resource and time constraints.

1.6 Organization of the Study

- Chapter One: Background, problem statement, objectives, and significance.

- Chapter Two: Literature review on mobile banking.

- Chapter Three: Methodology, including research design, sampling, and data analysis.

CHAPTER TWO

2. Literature Review

2.1. Theoretical Literature Reviews

2.1.1 Definition of mobile Banking
Mobile banking is a service provided by banks and other financial institutions that allows customers to conduct
financial transactions remotely using a mobile device such as a smartphone or tablet. It refers to the use of a mobile
device to access and manage one's banking accounts and conduct various financial transactions. Mobile banking apps
offer a convenient and secure way to manage one’s finances on the go, without the need to visit a bank branch or
ATM. Mobile banking is different from online banking in that it is performed on an app using a portable device, while
online banking can be carried out on any device and doesn't require users to download an app. Mobile banking
includes features such as checking account balances, transferring money, paying bills, and receiving push
notifications. It is a popular option for small to medium-sized enterprises (SMEs) and can help banks cut down on
operational costs while still maintaining client satisfaction.

2.1.2 The evolution of mobile Banking system

The evolution of mobile banking can be summarized as follows:

 Early 1970s: Banks began exploring mobile banking as a cost-effective alternative to traditional banking
functions.
 Early 1980s: Term "mobile banking" gained popularity, initially referring to using a computer to access
banking services via a phone line.
 Late 2000s to early 2010s: Proliferation of smartphones led to the emergence of mobile banking apps,
offering a wide range of transactions.
 Present: Virtually every major bank offers a mobile banking app, making it an essential part of the digital
banking landscape.

This summary provides a brief overview of the key milestones in the evolution of mobile banking, highlighting its
growth from a cost-effective alternative to a ubiquitous and essential service in the digital banking industry.

2.1.3 Mobile Banking in Ethiopia

The evolution of mobile banking in Ethiopia began in the late 2001 when the Commercial Bank of Ethiopia (CBE)
introduced the service for local users with its eight ATMs in Addis Ababa. Subsequently, other banks such as Dashen
Bank and United Bank S.C. entered the mobile banking space, introducing services like tele-banking, SMS banking,
internet banking, and agent banking. In 2010, Zemen Bank launched full-scale internet banking, a new service in the
Ethiopian banking industry, allowing customers to make online money transfers, access bank statements, and
exchange rate information. Additionally, there have been agreements among banks to share ATM resources, leading
to the establishment of the Premium Switch Solutions (PSS) by several banks. The evolution of mobile banking in
Ethiopia reflects the country's efforts to modernize its banking system and meet the growing demands of domestic
and international trades.

2.1.4 Forms of Mobile Banking

The forms of mobile banking include:

Plastic Cards: Debit cards, credit cards, and prepaid cards.

Automated Teller Machines (ATM): Enables cash withdrawals, fund transfers, and balance inquiries.
Point-of-Sale (POS): Allows customers to make payments for goods and services without physical cash.
 Internet/Extranet Banking: Accessing accounts and general information on bank products and services
through a personal computer or intelligent device.
E-Banking: Accessing a bank’s networks using cellular phones, pagers, or similar devices through
telecommunication wireless networks.
Tele-Banking: Providing banking services via phone, including account balance checks, funds transfers, bill
payments, and stock exchange transactions.
These forms of mobile banking provide customers with various options to access and manage their finances,
offering convenience and flexibility in conducting financial transactions.

2.1.5 Benefits of mobile Banking

Mobile banking offers numerous benefits to both customers and banks. For customers, it saves time, provides
convenience, and offers personalized services. It also enhances security and reduces the need for physical cash. For
banks, it leads to lower transaction costs, higher customer satisfaction and retention, and improved efficiency. Mobile
banking also allows banks to expand their geographical reach and gain cost benefits. It helps businesses to create
value and lower the cost of providing goods and services to the market. Mobile banking also facilitates the
development of new types of products and new business models for generating revenues in different ways.

2.1.5.1. Benefits of Mobile Banking for Customers

 Convenience: Customers can access their accounts and perform transactions anytime, anywhere, without the
need to visit a physical branch
 Mobility: Mobile banking can be done from anywhere with an internet connection, allowing users to manage
their finances on the go
 No fees: Mobile banking services are often free or low-cost, making them accessible to a wider range of
customers
 Real-time account information: Customers can access up-to-date account information and transfer funds
instantly
 Automatic bill paying: Mobile banking allows for the automation of bill payments, making it easier for
customers to manage their finances

2.1.5.2. Benefits of Mobile Banking for Banks

 -Better branding: Mobile banking helps banks differentiate themselves and attract more customers
 Cost-efficiency: Mobile banking reduces the need for paper statements and other administrative costs,
leading to cost savings
 Increased transaction volume: By offering mobile banking services, banks can increase the number of
transactions and grow their business
 Improved customer satisfaction: Mobile banking provides customers with a convenient and efficient way to
manage their finances, leading to higher satisfaction and loyalty
  Security: Mobile banking platforms use advanced encryption and authentication methods to protect user
information, ensuring a secure way to manage finances

2.1.6 Factors influencing Banks to adopt mobile banking system

Factors influencing banks to adopt mobile banking systems include:

 Technological factors:
 Perceived usefulness (PU)
 Perceived ease of use (PEOU)
 Compatibility
 Perceived risk
 Organizational factors:
 Organizational characteristics
 Existing technology infrastructure
 Skills to utilize technology
 Environmental factors:
 Government support
 Competitive landscape
 Customer preferences

These factors are assessed using frameworks such as the Technology-Organization-Environment (TOE) framework and
the Technology Acceptance Model (TAM). Key factors affecting adoption include perceived usefulness, perceived ease
of use, compatibility, and perceived risk, which influence attitudes and behavioral intentions towards mobile banking
adoption. Additionally, government support plays a role in mediating the adoption of mobile banking in certain
contexts

2.1.6.1. Technology-Environment (TE) Framework

The TE framework identifies three basic factors for the adoption of technological innovation: technological factors,
organizational factors, and environmental factors.

This framework is widely used in the context of innovation adoption by organizations.

2.1.6.2. Technological Factors

Perceived benefits and perceived risks are two basic factors related to technology competence that influence the
adoption of mobile banking.

Perceived benefits include savings on operational costs, improved organizational functionality, and increased
profitability, while perceived risks include issues related to security and customers' resistance to use the services.

2.1.6.3 Environmental factors

Legal frameworks, national ICT infrastructure, and competitive pressure are key factors influencing mobile banking
adoption.
2.1.6.4 Technology Acceptance Model (TAM)

Perceived ease of use and perceived usefulness are two basic factors used to analyze the perception of users on the
adoption of mobile banking system in Ethiopia.

2.1.7 Mobile Banking Challenges in Ethiopia

Challenges include low internet penetration, lack of infrastructure, absence of suitable legal and regulatory
framework, political instability, high rates of illiteracy, high cost of internet, absence of financial networks, and
frequent power interruption.

2.2 Empirical Studies Related With mobile Banking Adoption

The empirical studies related to mobile banking adoption have identified factors such as security concerns, perceived
usefulness, perceived ease of use, and compatibility as key factors influencing adoption. Solutions to security issues
include software-based systems and hardware-based systems. Studies have also found that legal and regulatory
frameworks, national ICT infrastructure, and competitive pressure are important environmental factors influencing
adoption. Challenges to mobile banking adoption in Ethiopia include low internet penetration, lack of suitable legal
and regulatory frameworks, political instability, high rates of illiteracy, and frequent power interruptions.

CHAPTER THREE
3. METHODOLOGY

3.1 Description of the Study Area

Ambo town, located in the East Shewa Zone, Oromia Regional State, Ethiopia, is the focus of the study. It has a
latitude and longitude of 8°59′N 37°51′E and an elevation of 2,101 meters. The town is divided into 6 kebeles, with a
total population of 108,000 according to the 2018 census.

3.2 Research Design

This study aimed to describe the current practice of mobile banking and identify the factors that can affect customer
adoption of mobile banking in Oromia Bank in Ambo, Ethiopia. Descriptive research was used to achieve the research
objectives. The study did not focus on the challenges of electronic banking practices or the effect of e-banking
services on customer satisfaction. Instead, it aimed to highlight the factors that can affect customer adoption of
mobile banking. The study did not provide any specific recommendations for designing a trustful user interface for
mobile financial services.

3.3 Research Approach

The study adopted both quantitative and qualitative research approaches to answer the research questions, aiming to
gather data that could not be obtained by adopting a single method.
3.4 Types and Source of Data
Data was collected from both primary and secondary sources. Primary data was collected from managers, customer
service officers, and customers of the Oromia Bank, using structured questionnaires and interviews. Secondary data
included books, past research, and annual reports of the banks.

3.5 Data Collection Instruments

Two data collection mechanisms were designed: a questionnaire for customers and interviews for managers and
customer service officers. The questionnaire included closed-ended and open-ended questions, while the interview
was conducted in English.

3.6 Target Population and Sample Size

The target population was managers, customer officers, and customers of the Oromia Bank in Ambo, Ethiopia. The
study used a stratified random sampling technique and determined a sample size of 94 customers from a total
population of 1500 customers.

3.7 Sample Size and Sampling Technique

The research used stratified random sampling technique. We considered population consisting of
1500 customers from the Oromia banks. that are found in Ambo town. From the total population,
the researcher will take only 94 customers as a sample using the formula, n=N/1+N(e)2
(yemane,1997) . This formula was used at 90% confidence level and 0.1 level of significance
(margin of error).

n=N/1+N(e)2 = 1500/1+1500(0.1)2  94

n - Sample size N- number of population

e- Margin of error

To make the sample proportional the researcher used stratified random sampling. This sampling
method takes the sample calculated in simple random sampling formula and make the sample
proportional as shown in the table below.
Table 1. Proportion of Sample in the Oromia banks

Name of the Bank Population Percentage Sample

Oromia Bank 1500 100% 94

Total 1500 100% 94

3.8 Method of Data Analysis

In order to meet the stated research objectives, the collected data was analyzed using Microsoft Office Excel
software. The analysis was done in descriptive statistics. Finally, the analysis result of the data was
interpreted and conclusion drown.

CHAPTER FOUR
4 DATA ANALYSIS AND INTERPRETATION
Introduction to Data Analysis
The data analysis chapter aims to analyze data collected through questionnaires and interviews related to the
adoption of mobile banking by Oromia Bank customers. The data was gathered from employees, customers, and
managers, and will be analyzed using a quantitative method of descriptive data analysis, including tables and
percentages.

4.2 Personal Profile of the Respondents (customers)

The chapter is organized to include the personal profile of the respondents and general information related to factors
affecting mobile banking adoption.

4.2.1 Sex distribution of the respondents

Table 2. Sex distribution

Sex Frequency Percentage (%)

Male 60 64%

Female 34 36%

Total 94 100%

(Source: own questionnaire 2016E.C)

 The above table 4.2.1 indicates the sex distribution of the respondent. From this, 64% of the
respondents are males and 36% of the respondents are females. Therefore, from the above table the
researcher concludes that most of the customers are males.

4.2.2 Age distribution of respondents

Table 3. Age of respondent

Age distribution Frequency Percentage

Less than 20 0 0%

20-30 48 51%

31-40 44 47%

41-50 2 2%

50 and above 0 0%

Total 94 100%

(Source; own questionnaire 2016E.C)

As shown in the above table 4.2.2, 51% of the respondents are in between 20-30, 47% in the age of
31-40, 2% between 41-50.

In addition to the above table, as the Oromia bank’s managers said most of mobile banking users
were youths (source; own interview 2016E.C).From all this information the researcher conclude
that most of the customer of the bank is youth and elder, and youths are the most mobile banking
users.
4.2.3 Occupational status of the respondent
Table 4. Occupational status of the respondent
Occupational status Frequency Percentage %

Non-Employee 15 16%

Self employed 52 55%

Government or private 27 29%

employee

Total 94 100%

(Source, own questionnaire 2016E.C)

As shown in the above table 4.2.3, 16% of the customers are not employee, 55% are self-employed and 29%
government or private employee .From this table the researchers conclude that most of the customers are self-
employed so they use banking service more frequently than government or private employees who’s paid on month
or week most of the time.

4.2.2 Educational back ground of the respondents

Table 5. Educational back ground of customers
Educational level Frequency Percentage (%)

1-12 grade 15 16%

Diploma 12 13%

Degree 30 32%

Masters and above 11 12%

Semi-literate 26 27%

Total 94 100%

(Source, own questionnaire 2016E.C)

As shown in the above table 4.2.2, 51% of the respondents are in between 20-30, 47% in the age of 31-
40, 2% between 41-50.

In addition to the above table, as the Oromia bank’s managers said most of mobile banking users were
youths (source; own interview 2016E.C).From all this information the researcher conclude that most of
the customer of the bank is youth and elder, and youths are the most mobile banking users.

4.2.2 Occupational status of the

respondent Table 4. Occupational
status of the respondent

Occupational status Frequency Percentage %

Non-Employee 15 16%

Self employed 52 55%

Government or private 27 29%

employee

Total 94 100%

(Source, own questionnaire 2016E.C)

As shown in the above table 4.2.3, 16% of the customers are not employee, 55% are self-employed
and 29% government or private employee .From this table the researchers conclude that most of
the customers are self-employed so they use banking service more frequently than government or
private employees who’s paid on month or week most of the time.

4.2.3 Educational back ground of the

respondents Table 5. Educational back
ground of customers

Educational level Frequency Percentage (%)

1-12 grade 15 16%

Diploma 12 13%
 Degree 30 32%

Masters and above 11 12%

Semi-literate 26 27%

Total 94 100%

(Source, own questionnaire 2016E.C)

The educational distribution of the respondents was as follows: 16% had education up to 1-12 grade ,
13% had a diploma, 32% had a degree, 12% had a master's degree or above, and 27% were semi-literate.
The researcher concluded that most respondents were educated, and the remaining were semi-literate,
indicating that most were familiar with technology, while some were not.

4.3 Data interpretation for Questionnaires related to factors affect mobile banking
adoption

4.3.1 Do you use mobile banking service?

Table 6. Do you use mobile banking service?

Response Frequency Percentage (%)

YES 43 46%

NO 51 54%

Total 94 100%

(Source, own questionnaire 2016E.C)

As shown in the above table 4.3.1, 46% of the respondent said “yes “and 54% of respondents said
“no. From this expression, we have understood that most of the respondents were not mobile
banking service users.

4.3.2 The type of mobile banking service used by the customer.

Table 7. Type of mobile banking service used by the customer
 Type of mobile banking Frequency Percentage %
service
ATM 42 45%
Mobile banking 17 18%
Internet banking 35 37%
Other 0 0%
Total 94 100%

As indicated in the above table 4.3.2, 45% of the respondent uses ATM machine,37% of
respondent use internet banking, 18% of respondent use mobile Banking .There for the researcher
concluded that most of the respondents use only ATM, internet banking and Mobile banking,
they do not use other type of E banking services.

4.3.3 Customers fear of Mobile banking service risk.

Table 8. Customer fear of Mobile banking service risk

Level of agreement Frequency Percentage (%)

Agree 34 36%
Strongly agree 16 17%
Disagree 29 31%
Strongly disagree 15 16%
Total 94 100%
(Source; own questionnaire 2016E.C)
The above Table 4.3.3, Highlighted that 36% of the respondent said agree, 17% strongly agree, 31%
disagree and 16% of the respondents said strongly disagree.

More over the manages include in they words that most of the customers don’t have detailed
knowledge about the Mobile banking technology and they are not sociable with the technology so
they fear losing their money (source; own interview 2016 E.C).From this table the researcher
conclude that the customers have a fear of Mobile banking service risk.
4.3.4 Learning how to use Mobile banking is easy.
Table 9. Learning How to use Mobile banking is easy
Level of agreement Frequency Percentage (%)
Agree 32 34%
Strongly agree 23 24%
Disagree 39 42%
Strongly disagree 0 %
Total 94 100%

(sourse:ownquestionnaire2016E.C)
As seen in the above table4.3.4, 34% of the respondents said agree, 24% strongly agree and 42%
disagree and no one said strongly Disagree. The researcher conclude that learning how to use
mobile banking is not easy for most of the respondents.

4.3.5 Environmental factor that affect mobile banking.

Table 10. Environmental factors that affect mobile banking

No Factor Strongly Agree Strongly Disagree Total

agree disagree

No % No % No % No % No %

1 Low internet access 24 24 34 35 9 9 29 30 94 100

2 Lack of available 26 29 33 34 21 21 16 14 94 100

ICT infrastructure

3 Lack of sufficient 27 26 47 50 5 5 17 17 94 100

public awareness

4 Frequent power 30 33 54 57 10 10 0 0 94
disruption

5 Relatively high cost 25 24 23 23 16 16 34 33 94 100

of using E- banking

6 Low level of 33 34 36 37 13 13 14 14 94 100

computer literacy

(Source; own questionnaire 2016 E.C)

The main factors affecting customer e-banking usage are:

 Low level of computer literacy

 Lack of sufficient public awareness

 Frequent power disruption

  Lack of available ICT infrastructure

 Low internet access

 Relatively high cost of mobile banking

These factors were identified through respondent surveys and interviews with managers.

4.3.6 Technological factors that affect mobile banking adoption.

Table 11. Technological factors that affect mobile banking adoption

Strongly Strongly
No Factor agree Agree disagree Disagree Total
No % No % No % No % No %

1 Lack of confidence 25 26 37 38 15 15 21 17 94 100

in technology
They do not trust
technology
provided by the
2 Bank 14 14 21 21 27 28 36 33 94 100
Fear of risk to use
E- banking
3 23 23 41 42 10 10 24 21 94 100
technology
(Source; own questionnaire 2016E.C)

Based on the above table 4.3.6, 26% of the respondents strongly agree that lack of confidence
affect the customer adoption, 38% agree, 15% strongly disagree and the rest 21% of them said
disagree.
From the respondents part 14% strongly agree, 21% agree, 28% of them said strongly disagree and
37% of the respondents disagree. From the given factors that fear of risk to use mobile banking
technology, 23% of the respondents strongly agree, 42% agree, 10% of them strongly dis agree and
25% disagree.

This all implies that lack of confidence in technology and fear of risk to use mobile banking
service were the main technological factors and the others technological factors affect the customer
in small percent we conclude that most of the customers are affected by lack of confidence.

4.3.7. mobile banking is safe as using other mode of banking services.

Table 12. Mobile banking is safe as using other mode of banking service

Level of agreement Frequency Percentage (%)

Agree 24 26%
Strongly agree 13 14%
Disagree 51 54%
Strongly disagree 6 6%
Total 94 100%
(Source; own questionnaire 2016E.C)

As indicated in the above table4.3.7, 26% of the respondents agree that using E-banking service is
safe as other mode of banking service.14% strongly agree, 54% disagree and 6% strongly disagree.
From this table the researcher conclude that customers do not trust the safeness of mobile banking
service.
 4.3.8 People with high income have high tendency of using mobile
banking.
Table 13. People with high income have high tendency of using
mobile banking
Level of agreement Frequency Percentage (%)
Agree 20 21%
Strongly agree 13 14%
Disagree 52 55%
Strongly disagree 9 10%
Total 94 100%
The factors affecting mobile banking adoption in Ethiopia include:
 Perceived risks
 Trust and reliability
 Lack of ICT infrastructure
 Low level of computer literacy
 Lack of sufficient public awareness
 Frequent power disruption
 Low internet access
 Relatively high cost of mobile banking
Drivers of mobile banking adoption include relative advantage, perceived ease of use, and perceived
usefulness. The income level of customers does not necessarily determine their tendency to use mobile
banking services.

4.3.9 People with high education level become more mobile banking users
Table 14. People with high education level become more mobile banking users

Level of agreement Frequency Percentage (%)

Agree 64 68%

Strongly agree 27 29%

Disagree 3 3%

Strongly disagree 0 0%

Total 94 100%

(Source; own questionnaire 2016E.C)

People with high education levels are more likely to use mobile banking services. This conclusion is based on the
following data:

 68% of respondents agreed that people with high education levels become more mobile banking users
 29% strongly agreed
 3% disagreed

Customer service officers from Oromia banks reported that educated individuals are more inclined to adopt
technology and are familiar with its usage, making them more likely to use mobile banking services compared to
uneducated individuals (source; own interview 2016E.C).
 4.3.10 The most mobile banking user age group.
Table 15. The most mobile banking user’s age group

Age group Frequency Percentage %

Youth 63 67%

Middle age 31 33%

Old age 0 0%

Total 94 100%

(Source; own questionnaire 2016E.C)

According to Table 4.3.10, 67% of respondents agreed that youth are more likely to use mobile banking
services due to their familiarity with technology and education.

Meanwhile, 33% of respondents believed that middle-aged individuals who frequently transfer and
receive money are the most likely to use mobile banking services.

The researchers concluded that the majority of mobile banking users are youth.

CHAPTER FIVE
1. CONCLUSION AND RECOMMENDATION

5.1. Conclusions
Conclusions Based on the detailed analysis and interpretation, the study found that most customers
were not users, and the major factors affecting mobile banking adoption were educational status, fear of
risk, environmental factors, and awareness. The study concluded that:

Customers with higher education levels were more likely to use mobile banking services, as they had a
better understanding of the technology.

Fear of financial risks, time risks, and cybercrimes were significant barriers to mobile banking adoption.

Environmental factors, such as frequent power disruptions, lack of technological infrastructure, and low
computer literacy, hindered mobile banking adoption.
Customers with high income were not comfortable with the safety of mobile banking services and
preferred traditional methods of money transfer.

5.3. Recommendations
Mobile banking is a new financial evolution in Ethiopia that has a great impact on the banking system.
However, it requires a lot of effort to be accepted by customers.

To increase adoption, the researcher recommends giving awareness to customers who do not have
access to media and providing easily understandable information.

Additionally, awarding customers for using mobile banking services can motivate them. To overcome
the problem of low computer literacy, the service should be simple and not require complex procedures.
The researcher also suggests studying cultural and social factors that affect customer adoption of mobile
banking