Exploring customer experiences and trust in mobile banking apps: A study of Sri Lankan commercial bank customers.

Sammanfattning

Mobile banking applications have drastically changed the banking industry byenabling customers to perform financial transactions via digital platforms at any timeand from any location. In Sri Lanka, customers' interactions with commercial bankshave changed due to the growing use of mobile banking. However, despite the easeof use provided by these apps, client experiences and ongoing use of mobile bankingservices are still influenced by issues with trust, security, technological dependability,and emotional assurance. While existing studies examine technological adoption andquantitative determinants of mobile banking usage, there is limited qualitativeresearch in Sri Lanka that explores customers lived experiences, emotionalperceptions and trust-related concerns regarding mobile banking applications.To fill this gap, this study used a qualitative research methodology. Using a purposivesampling method, a set of characteristic experiences and perceptions regarding mobilebanking services was obtained from commercial bank customers in Sri Lanka throughsemi-structured interviews. The Perceived Risk Theory, Schmitt's StrategicExperiential Modules (SEMs), and the IS Success Model form the theoreticalfoundation of this research. Trends were identified through thematic analysis tocapture the major factors influencing consumers' trust and experience with mobilebanking apps.The study results show that customers' main reasons for adopting mobile banking appsare convenience. Participants stated that mobile banking services break the limitationsof traditional banking and make services more accessible and rapid. The results,however, indicate that trust in mobile banking is closely related to emotional factors.They are constantly affected by technical problems, sales processes that go wrong, alack of security and poor customer service. A lot of participants experience anxietyand frustration in failed exchanges. And also highlighted the need for personal touch,openness and emotional security to keep people happy about mobile banking.Furthermore, the study found that despite the growth of digital banking, physical cashand branch banking services continue to provide customers with a sense of securityand control.This study would provide a better understanding of the reasons behind the continueduse of mobile banking in Sri Lanka beyond purely functional aspects and technologyacceptance, in contrast with earlier studies that mainly focused on these factors. Theresults show that, in addition to the system's efficiency, psychological levels ofcomfort, reliability and human-centered support are also significant factors that affecthow customers trust mobile banking. This study contributes to the broader literatureon trust in digital banking and provides practical implications for commercial banksseeking to improve customer trust, retention, and digital banking experiences indeveloping country economies.