Final 14-04-2022

CHAPTER-1
INTRODUCTION TO THE STUDY

MOBILE BANKING (M-Banking)
Banking in India has been originated in the 18th century. The first banks are The General Bank
of India, which was started in the year 1786 and Bank of Hindustan which was started in the year
of 1790. The oldest bank of India was the State Bank of India which was started in the year 1806.
Mobile banking has changed the traditional way of banking system that allows customers to do
the banking services like making deposits, withdraw, send, receive, and transfer funds from the
mobile account with the help of mobile device. Mobile banking offers various types of information
for the customers like
Nowadays consumers of banking have changed their attitude, Due to this Covid-19 Pandemic
that they don’t want to stand in the bank queues, no need of PC and laptop with the internet
connection just with the help of mobile phone all the activities are done with mobile banking
system. Mobile banking has been effectively used by all consumers because they don’t want to
wait for others, they can transfer their amount at any time, they can carry mobiles anywhere
without any trouble. Technology has been perfectly used by the banking system, where updating
of all the activities have been implemented in banking system. Mobile Banking has helped the
banks to improve the quality of services to the customers and it has created the customer
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relationship management. Through Mobile banking the banks can easily contact the group of
customers who are more valuable to the banks. Communication of the banks with the customers
helps the bank to sell the financial products.
1.1 OBJECTIVES OF THE STUDY
➢ To study customer perception towards mobile banking during Covid-19 pandemic.

➢ To analyse the usage level of mobile banking services during Covid-19 pandemic.
➢ To examine the barriers faced by citizen towards mobile banking during Covid-19
pandemic.
➢ To observe the overall customer satisfaction on mobile banking during Covid-19 pandemic.
➢ To analyse the factors influencing the customer attitude towards Mobile Banking in Mumbai
City.
➢ To analysis the reasons for customers adoption of mobile bank services in Mumbai city.
➢ To assess the customer usage of mobile banking facilities in Mumbai city.
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1.2 SCOPE OF THE STUDY
Mobile banking makes the change in the traditional processing of the Bank works. Customers of
the bank moved according to the technology because of their busy schedule of their work. During
non-availability of the banking service in holidays & Specially during covid-19 pandemic they are
moving towards the internet services or other online services transfer the amount for their
purpose, Where the mobile banking helps them to transfer and do all the activities in the same
place without moving anywhere. Based on the attitude of the customer there is a change in the
behaviour banking process with the help of mobile banking which is more comfortable. Banks that
are started to develop their activities with the help of mobile banking which is effectively used by
the customers. The present study aims at examining the customers’ perception towards mobile
banking services with special reference to Mumbai City.
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1.3 LIMITATION OF STUDY
❖ The study conducted has certain limitations which recommends future researchers.
❖ Time was limited to collect data.
❖ Sample could only be collected from 50 respondents only.
❖ Scope of the project was confined to Mumbai City only.
❖ As this project was confined to Mumbai City only the data showed the attitude of customers of
Mumbai City only.
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1.4 METHODOLOGY & SOURCE OF DATA
A detailed survey of customers was carried out to find out customer perception towards mobile
banking during covid-19 pandemic with special reference to Mumbai city. A well-structured
questionnaire was served as the primary source. 50 samples were taken from the customers
residing in Mumbai city for the study with the help of random sampling method. Secondary data
was collected through online journals, magazines, bank websites, books.
To address the key research objectives, this research used both qualitative and quantitative
methods and combination of primary and secondary sources.
Sample size is 50 respondents
Sources of data:
The study is based on both primary and secondary data.
Primary data:
The primary data were collected through structured questionnaire.
Secondary data:
The required secondary was collected from websites, online Journals, Official Banks
Websites.
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Research Methodology
Methodology is the study of research methods or more formally, "'a contextual framework' for
research, a coherent and logical scheme based on views, beliefs, and values, that guides the
choices researchers [or other users] make".
It comprises the theoretical analysis of the body of methods and principles associated with a
branch of knowledge such that the methodologies employed from differing disciplines vary
depending on their historical development. This creates a continuum of methodologies that
stretch across competing understandings of how knowledge and reality are best understood. This
situates methodologies within overarching philosophies and approaches.
Methodology may be visualized as a spectrum from a predominantly quantitative approach

towards a predominantly qualitative approach. Although a methodology may conventionally sit
specifically within one of these approaches, researchers may blend approaches in answering their
research objectives and so have methodologies that are multimethod and/or interdisciplinary.
Overall, a methodology does not set out to provide solutions - it is therefore, not the same as a
method. Instead, a methodology offers a theoretical perspective for understanding which method,
set of methods, or best practices can be applied to the research question(s) at hand.
1.A Methodology is the systematic, theoretical analysis of the methods applied to a field of study.
It comprises the theoretical analysis of the body of methods and principles associated with a
branch of knowledge. Typically, it encompasses concepts such as paradigm, theoretical model,
phases and quantitative or qualitative techniques. A methodology does not set out to provide
solutions - it is, therefore, not the same thing as a method. Instead, it offers the theoretical
underpinning for understanding which method, set of methods or best practices which can be
applied to specific case, for example, to calculate a specific result.
1.2 Research: The process of research came into being due to man’s quest to be at tune with his
environment and also understand nature. To achieve this, man uses the tools of experience and
reasoning available to him. Man also makes use of experience and authoritative sources beyond
his immediate circle. Experience and authority are rich and major sources of hypothesis, which
are based mainly on common sense knowledge and haphazard events, therefore it can be
unjustified for drawing conclusions on events. Hence research hypothesis formulation using
experience and authority is judged to be unscientific. Research anchors on scientific reasoning;
which could be inductive and deductive or both. Research is a combination of both experience
and reasoning and can be said to be the most appropriate way of discovering the truth, precisely
in the natural Sciences.
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1.3 Research methodology: This is a set of systematic technique used in research. This simply
means a guide to research and how it is conducted. It describes and analysis methods, throws
more light on their limitations and resources, clarify their pre- suppositions and consequences,
relating their potentialities to the twilight zone at the frontiers of knowledge. Advantages of
Research Methodology: The following are the advantages of research methodology: 1.
Advancement of wealth of human being 2. Provision of tools for carrying out the research 3.
Develops a critical and scientific attitude, disciplined thinking to observations 4. Enrichment of the
research process and provision of chance for in-depth study and understanding of the subject 5.
Helps to inculcate the ability to evaluate and use research results with reasonable confidence and
in decision making 6. Inculcates the ability to learn to read and think critically.
The Purposes of Research serves many purposes. Three of the most common and useful
purposes, however, are exploration, description, and explanation. Many studies can and often do
have more than one of these purposes, however each have different implications for other aspects
of research design.
PHILOSOPHIES AND RESEARCH METHODOLOGIES

1 Survey: This is used to obtain data about practices, situation views at one point in time through
questionnaire or interviews
2. Case Study: this involves an attempt to describe relationships which exist in reality
3. Simulations: This involves copying the behaviour of a system and is used in situations where
it is difficult to solve problems analytically. It typically involves the introduction of random variables.
It has a problem of making the data collected sufficient enough to resemble reality.
4. Subjective/argumentative research: This is used for generating new theories and ideas which
can subsequently be tested. It is subject to research bias. It is unstructured and subjective form
of research.
5. Action research: This is the most useful form of research. It involves application in which the
researcher attempts to develop results or obtain solutions of practical value to the people with
whom the researcher is working and at the same time developing theoretical knowledge.
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Source of Data
Data collection is the process of acquiring, collecting, extracting, and storing the voluminous
amount of data which may be in the structured or unstructured form like text, video, audio, XML
files, records, or other image files used in later stages of data analysis.
In the process of big data analysis, “Data collection” is the initial step before starting to analyse
the patterns or useful information in data. The data which is to be analysed must be collected
from different valid sources.
The data which is collected is known as raw data which is not useful now but on cleaning the
impure and utilizing that data for further analysis forms information, the information obtained is
known as “knowledge”. Knowledge has many meanings like business knowledge or sales of
enterprise products, disease treatment, etc. The main goal of data collection is to collect
information-rich data.
Data collection starts with asking some questions such as what type of data is to be collected
and what is the source of collection. Most of the data collected are of two types known as
“qualitative data “which is a group of non-numerical data such as words, sentences mostly focus
on behavior and actions of the group and another one is “quantitative data” which is in numerical
forms and can be calculated using different scientific tools and sampling data.
The actual data is then further divided mainly into two types known as:
1. Primary data
2. Secondary data
1.Primary data:
The data which is Raw, original, and extracted directly from the official sources is known as
primary data. This type of data is collected directly by performing techniques such as
questionnaires, interviews, and surveys. The data collected must be according to the demand
and requirements of the target audience on which analysis is performed otherwise it would be
a burden in the data processing.
Few methods of collecting primary data:
1. Interview method:
The data collected during this process is through interviewing the target audience by a person
called interviewer and the person who answers the interview is known as the interviewee.
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Some basic business or product related questions are asked and noted down in the form of
notes, audio,or video and this data is stored for processing. These can be both structured and
unstructured like personal interviews or formal interviews through telephone, face to face, email,
etc.
2. Survey method:
The survey method is the process of research where a list of relevant questions are asked and
answers are noted down in the form of text, audio, or video. The survey method can be obtained
in both online and offline mode like through website forms and email. Then that survey answers
are stored for analyzing data. Examples are online surveys or surveys through social media
polls.
3. Observation method:
The observation method is a method of data collection in which the researcher keenly observes
the behavior and practices of the target audience using some data collecting tool and stores the
observed data in the form of text, audio, video, or any raw formats. In this method, the data is
collected directly by posting a few questions on the participants. For example, observing a group
of customers and their behavior towards the products. The data obtained will be sent for
processing.
2. Secondary data:
Secondary data is the data which has already been collected and reused again for some valid
purpose. This type of data is previously recorded from primary data and it has two types of
sources named internal source and external source.
Internal source:
These types of data can easily be found within the organization such as market record, a sales
record, transactions, customer data, accounting resources, etc. The cost and time consumption
is less in obtaining internal sources.
External source:
The data which can’t be found at internal organizations and can be gained through external third
party resources is external source data. The cost and time consumption is more because this
contains a huge amount of data. Examples of external sources are Government publications,
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news publications, Registrar General of India, planning commission, international labor bureau,
syndicate services, and other non-governmental publications.
CHAPTER-2
INTRODUCTION TO THE TOPIC
Mobile banking was first introduced in India in 2002. Transactions were also carried out via SMS.
Almost all banking transactions, such as checking account statements, paying credit bills, utility
bills, and transferring funds, can now be completed using a computer, laptop, or smartphone.
Almost all banks have a mobile phone application in 2018. It allows customers to transfer funds
by simply downloading the mobile banking app to their Android or smartphone, after which they
can begin online banking transactions at their leisure. In the year 2008, ICICI Bank was the first
bank in India to launch mobile banking. Almost every bank has since followed suit.
• THE HDFC BANK MOBILE APP

The HDFC Bank is one of India’s largest private sector banks. Its mobile banking app allows
customers to view account transactions, transfer funds quickly, and make credit card payments
quickly. HDFC Bank’s mobile banking app has a 4.4-star rating on Google Play and has been
downloaded 10 million times. HDFC Bank’s mobile banking app is also available in Hindi and has
a “LITE” version that works with slower internet connections. While the LITE version lacks some
of the features found in the regular version, it still provides access to the most commonly used
services.
• ICICI BANK’S IMOBILE APPLICATION

The iMobile app by ICICI Bank is one of the highest rated mobile banking applications in India.
The app has 4.4-star rating on the Google play store and has over 10 million installs. The app
allows customers for transfer funds, to pay credit card bills, to pay utility bills online, also or open
fixed deposit and recurring deposit account, and manages Life Insurance Policies. The iMobile
app also allows its users to make use of ICICI Bank ATMs, transfer of funds quickly via UPI
payments, and transfer of funds to a mobile number. The app will be updated to reflect new
services that the bank offers with the app. In addition to this, ICICI Bank has also launched iWear-
ICICI Bank’s smartwatch app. wear allows its users to access their Bank account information
through their smartwatches, which includes information about their last 3 bank transactions,
available balance and credit card accounts.
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• AXIS BANK’S AXIS MOBILE APPLICATION
The Axis Mobile app is one of the most popular app. With over 10 million downloads and 4.6-star
rating on the Google play store, the app allows its customers to make use of different services
and functions. In addition to this transfer of funds and checking account statements, the app
allows users to make credit card payments for a date that suits them better, to convert card
payments to Equated Monthly Instalments, to block cards and to replace them and temporarily
deactivate debit cards and set limits on debit card purchases. App users can also set standing
instructions and auto-play bills for over 200 utility services.
HISTORY
A Brief History of Mobile Banking.
Before the introduction and enablement of mobile web services in 1999, mobile banking was
completed primarily through text or SMS; it was known as SMS banking. European banks were
on the frontier of mobile banking service offering, using the mobile web via WAP support.
SMS banking and mobile web were the most popular mobile banking products before 2010. With
the development of smartphones with iOS or Android operating systems, mobile banking
applications (apps) began to evolve. Clients were able to download the banking apps onto their
smartphones with more sophisticated interfaces and improved transactional abilities.
To date, many financial institutions make use of both SMS and mobile applications to keep their
clients informed of their account activities or to send out alerts regarding possible fraud and/or
updates and maintenance of service provision.
Examples can be a text message from a bank, notifying users that their ATMs or apps will not be
accessible during a particular time period due to system maintenance, or a confirmation text from
the bank regarding a transfer carried out by the client via the mobile app.
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A Mobile Banking Conceptual
In one academic model, mobile banking is defined as:
“Mobile Banking refers to provision and availment of banking- and financial services with the help
of mobile telecommunication devices. The scope of offered services may include facilities to
conduct bank and stock market transactions, to administer accounts and to access customised
information."
According to this model mobile banking can be said to consist of three inter-related concepts:
• Mobile accounting
• Mobile financial information services
Most services in the categories designated accounting and brokerage are transaction-based. The
non-transaction-based services of an informational nature are however essential for conducting
transactions – for instance, balance inquiries might be needed before committing a money
remittance. The accounting and brokerage services are therefore offered invariably in
combination with information services. Information services, on the other hand, may be offered
as an independent module.
Mobile banking may also be used to help in business situations as well as for financial situation.
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MOBILE BANKING SERVICES
Typical mobile banking services may include:
Account information
1. Mini-statements and checking of account history

2. Alerts on account activity or passing of set thresholds
3. Monitoring of term deposits
4. Access to loan statements
5. Access to card statements
6. Mutual funds / equity statements
7. Insurance Policies management
Transaction
1. Fund transfer between the customer's linked accounts

2. Paying third parties, including bill payments and third party fund transfer(see,
e.g., FAST)
3. Check Remote Deposits
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Investments
1. Portfolio Management services

2. Real-time stock
Support
1. Status of requests for credit, including mortgage approval, and insurance coverage
2. Check (cheque) book and card requests
3. Exchange of data messages and email, including complaint submission and
tracking
4. ATM Location
5. Loan Application
Content services
1. General information such as finance related news

2. Loyalty-Related offers
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IMPORTANCE OF MOBILE BANKING
The Importance of Mobile Banking
Mobile banking allows consumers to be able to access banking services from anywhere.
Businesses and business owners are now able to save time by making use of mobile applications
to process their payments or even receive funds from clients directly to their phone numbers. It is
particularly popular among small to medium sized enterprise (SMEs).
With mobile technology, banks are able to cut down on operational costs while still maintaining
client satisfaction. The fact that any client of a bank can make use of their app to request a service,
such as opening an account or even the ability to schedule debit orders or other payments from
an application, allows for larger transactional volumes, eventually driving business growth.
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TYPES OF MOBILE BANKING
Mobile banking is one step closer to creating a completely digitalized environment. It lessens
paperwork and shrinks waiting time which is otherwise wasted in long queues.
Banks provide mobile banking services to their clients in the different ways listed here:
• Mobile Banking over mobile applications (for smartphones, e.g. SBI Yono and iMobile by
ICICI Bank, etc.)
• Mobile Banking over SMS (also known as SMS Banking)
• Mobile Banking over Unstructured Supplementary Service Data (USSD).
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FEATURES OF M-BANKING
• Two-Factor Authentication and Biometric Authentication:

You should be the only one with the keys to your banking app. Two-factor
authentication and, even better, biometric authentication through fingerprint scans
or facial recognition help prevent others from accessing your account if you lose
your phone.
• Customizable Interface:
Once you’re in, your app should be able to adapt to you. You’ll want an app that you
can customize to fit your priorities and preferences, so you see what’s important to
you first.
• Basic Banking Functions:

The whole point of having a mobile app is to be able to access your money so it can
do what you need it to do. That includes the ability to deposit checks, pay bills, make
loan payments and transfer money between accounts from anywhere you are.
• Account Usage Alerts:

You should be able to set up alerts to fit your preferences so you can always stay
on top of your finances. Whether it’s a large purchase or a low balance, your app
should keep you in the know.
• Advanced Financial Management Tools:

We’ve come a long way from hand-written budgets and basic spreadsheets. A good
mobile banking app should have the ability to feed data into a dashboard that helps
you understand your cash flow, spending habits and balances better than ever
before.
• Create and Use a Digital Wallet:

There are a lot of reason to use digital wallet, and a worthwhile mobile banking app
should help make this even easier. This replaces the need for cash or cards, putting
the power of payment entirely in your phone
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• Click-to-Pay Convenience:
One of the worst parts about online purchases is filling (and refilling) information
about your card each time you use it. Click-to-Pay eliminates that headache so you
make payments quickly and move on with your day.
• Submit Travel Notices:

Traveling can present security challenges, leaving people locked out of their funds
when they’re away from home. Banking apps should allow users to alert their banks
that they’re traveling so that your trip doesn’t go off the tracks.
• Access to Bank Reps:

A chat function allows you to ask a question and get a response from anywhere
without the need to visit or call a branch location.
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ADVANTAGES OF M-BANKING
BENEFITS OF MOBILE BANKING FOR BUSINESS.
1. HIGH SPEED OF CUSTOMER SERVICE.
Data on all transactions, changes and other actions of the client are read automatically,
operations are carried out within the system.
2. LARGE SERVICE COVERAGE AREA.
This is due to the lack of binding to branches, regional centers, etc.
3. HIGH DOWNLOAD VOLUME.
When processing user requests involves the human factor, there are restrictions on the
production capacity of the resource, in contrast to the automated approach that is achieved
using a mobile application.
4. THE NUMBER OF MISTAKES MADE DECREASES.
The elimination of the human factor significantly reduces the variation in process execution,
which leads to a decrease in the number of errors and, accordingly, increases the stability and
quality of the process.
5. THE SPEED OF PERFORMING REPETITIVE TASKS INCREASES.
One of the most important benefits of a mobile app for banking is that with the help of it the
same tasks can be completed faster because automated systems are more accurate in their
actions and are not subject to decrease in performance from time to time.
6. THE CONTROL ACCURACY IS IMPROVED.
Due to the use of mobile applications for the bank in automated systems, it becomes possible
to store and take into account more data about the process than with manual control.
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7. FAST DECISION MAKING.
In automated online banking systems, decisions related to typical situations are made much
faster than with manual control. This improves process performance and avoids
inconsistencies in subsequent stages.
8. HIGHER COMPETITIVENESS.
Bank services can be quickly scaled up and integrated with other services.
9. REDUCING MARKETING COSTS.
Information and marketing channels are embedded in the mobile application. This reduces the
cost of informing customers, personalized adwords and clients’ notification.
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ADVANTAGES OF MOBILE BANKING FOR CLIENTS.
It is no longer possible to stop the processes of financial mobilization. Especially if you

consider that the degree of involvement of bank clients in these processes is very high and is
constantly growing. The advantages of the mobile banking system, as well as other
technologies for remote banking services, are many. What are the mobile banking benefits for
customers?
1. EASY TO START.
You do not need to have any special knowledge and skills in order to connect to a mobile
bank. You just need to download and install the required software, register and ... that's the
main pros of mobile banking!
2. AVAILABILITY.
Everyone has mobile phones, we have already talked about this. Mobile networks are present
even in the most remote corners of the world. This means that a person can use a mobile
bank in any conditions, wherever they are, and at any time of the day.
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3. COST REDUCTION.
In most cases, the tariffs for using the Mobile Bank are very low. The cost of services is so
insignificant that a person is unlikely to feel that he has spent something when connecting to
a bank. And if you calculate: a physical visit to a bank branch in terms of time costs, the cost
of gasoline or travel in public transport is much higher. The mobile bank allows you to save
money.
4. THE MORE YOU KNOW, THE BETTER.
Clients use the Mobile Bank also for the reason that they can always control the movement of
funds in their accounts, monitor their safety, use information services and have their own
personal assistant. On the one hand, it is much easier to make banking transactions with a
mobile phone, on the other hand, not a single penny will be lost from your account so that you
do not know where it went and for what reason.
5. SAFETY.
It is an ability to quickly block the card if the client notices its loss. To do this, just go to the
"card blocking" section, press the button and the card instantly stops functioning. This feature
helps those customers who are at risk of being used by other people who know the PIN if the
card is lost.
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DISADVANTAGE OF M-BANKING
Despite numerous advantages, you can face an array of issues while using a certain bank app
on your smartphone.
• Compatibility issues:
Not all apps are compatible with a certain model of smartphone. Also your device
may not support the platform a certain application is design for. Usually mobile
banking is available for high end devices. Also you need to have a stable internet
connection to make your application work properly and avoid lags.
• Security problems:
Starting from poor data encryption and ending with data leakage, modern bank-
dedicated apps have a range of security problems. Your personal account may
become an object for hackers. Don’t reveal your password and other billing details
in order not to become a victim of scammers. Once you lose your device, there is
always a chance the criminals get access to your bank account.
• Extra charges for internet services:

Mobile banking offers a slew of useful features, including different promotions,
discounts for services, credits, etc. Once you avail of certain paid features the
company may charge extra fees for their services.
• Not suitable for large business:

Bank apps usually provide limited deposits, which aren’t suitable for large
companies. Once you reach the designated limit, you will need to head to the branch
to deposit a new amount. The computer scanning software may recognize not all
types of checks. So this is a relatively time-consuming procedure.
• Convenient but not always prompt:

While it seems great to track all your financial activities on the move, it still takes
time until you access your money. All deposits and funds are reviewed by the
experts. So you will still need to wait for the approval. This policy implies to the
majority of banks.
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• Limited services:
Even though a mobile app allows you to do a lot of things, such as checking a bank
account, make deposits, pay for numerous services, you will still do more by visiting
the branch. For example, if you plan to transfer money to a debit card, it is necessary
to contact a specialist in a office.
• Technical Problems :
There are problems of technical issues, security concerns and cost constraints.
WAP proved to be too slow and cumbersome to satisfy the customer. People think
about security. But, their concerns are not adequately fulfilled by purveyors of m-
banking.
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MOBILE BANKING TECHNOLOGIES
With the popularity of online banking and the growing use of mobile web browsing, Mobile Banking
is becoming an everyday task for most people. More so, because it’s convenient, easy and can
be accessed on the go. Mobile Banking is the use of financial services over mobile devices such
as cellular phones.
The most common method of Mobile Banking is using a cell phone or personal digital assistant's
web browser to access your bank's website. Similar to using a personal computer, a cell phone
browser will allow you access to a bank's login website for account maintenance.
The 2 major Mobile Banking Technologies that ensure safety of your data in the process are-
Interactive Voice Response (IVR):
IVR is utilised to call users and communicate to them in person or solve their queries. Here is how
it works-
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• Banks advertise a set of numbers to their customers.
• Customers dial an IVR number on their mobile phones.
• They are greeted by a stored electronic message followed by a menu that has multiple
options.
• Customers select an option by pressing the corresponding number on their mobile

keypads.
• A text-to-speech program reads out the desired information.
• IVR only allows for inquiry-based transactions and general solutions.
Text messaging:
You can also track payments and receipts, receive alerts or pay utility bills via the InstaAlert
system. You will also be intimidated about when you balance falls below a certain level so that
you can maintain Average Quarterly Balance. For the same you have to register for mobile
services with your bank. SMS accommodates two-way communication, allowing messages to be
initiated by banks or by customers.
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How Safe is Mobile Banking?
Safety of Mobile Banking Applications- What are the parameters?
The safety and security of any mobile banking application depends upon-
• The bank’s fundamental data security feature for your bank account details.
• The telecom service provider.
Most of the banking applications use the two-factor authentication, i.e., verification of the
transaction they generate. In every transaction, an SMS with an OTP (One Time Password) is
sent to the user, i.e., you, which you must then enter and confirm that the transaction is good to
go. So that your information is protected from all malware attacks, your data is encrypted and
transmitted across the banking channels with high security.
Banks also put in place checks such as Device authentication and six digits PIN verification. This
blocks fraudsters from accessing your data by duplicating your details. Banks also keep a close
eye on fake applications posing as real ones on the Android platform to ensure that your data
does not fall prey to wrong usage and fraud.
Mostly, banking applications are tracked based on the volume of transaction and customer
behaviour. Your bank is thus, well aware of the nature and frequency of transactions taking place
on the platform and take appropriate steps if anything out of ordinary arises.
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Tips for Secure Mobile Banking
The following are tips on how to make your mobile banking app more secure.
• Use strong passwords with a combination of letters, numbers, and symbols. With a strong
password like that, an intruder will find it extremely difficult, if not impossible, to access
your mobile banking platform.
• Change your password every few months. Reconstructing a new password every three to
five months makes your mobile banking more secure.
• Don’t share your passwords with anyone, be it your family member or friend, no one.
• Stick to your home network rather than public WIFI. It is recommended that you disable
publicly accessible Wi-Fi and Bluetooth connections to your device before you make a
mobile connection to your bank.
• Download the official app from your bank. Thoroughly research all apps or software before
downloading to your phone and ask trusted peers for recommendations.
• Update your app every time there’s an update available. Keep your device operating
system and applications up to date. One way to do this is by ensuring automatic updates
are enabled under settings on your phone.
• Log out of the app every time you are through with it.
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• Regularly clear your browser cache so your information isn’t stored. Also, delete emails
and text messages from your bank when they are no longer needed so that your bank
information is not sitting in your inbox.
• Use two-factor authentication (or facial recognition when available). If your bank supports
it, enable two- or multi-factor authentication on your login like a code sent to your mobile
or a question about your first school’s name.
• Never automatically save passwords on your phone. Never let your browser automatically
save your bank account’s passwords, usernames, or credit card details, particularly if you
are sharing your device with other people.
• Have a way to erase your phone’s data immediately it is stolen. Consider using any free
security software provided by your bank or download/purchase your own high-quality
security software, preferably with remote deletion options that allow you to remotely wipe
any data stored on your device in the event that it’s lost or stolen.
• Sign up for online alerts each time account activity occurs.
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How to register for mobile banking?
Most banks offer mobile banking services. Given that the mobile phone is the most easily
accessible and widely used device among customers, it is convenient for them to carry out
banking transactions through this medium. Follow these steps to activate mobile banking.
1)Registration
Some banks require the customer to register for mobile banking by filling up a registration form
and submitting an identity proof with the form to a bank branch.
2)Mobile banking app

The customer is required to download the bank’s mobile banking application from the app store,
based on the make and model of the mobile phone they use.
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3)Activation process
The mobile banking application downloaded needs to be activated by following a few simple
steps. Some banks allow the customer to set a mobile banking PIN, others send a default MPIN
as an SMS. The mobile banking PIN must be entered each time the customer wishes to access
mobile banking services.
4)Login
After activation and entering the mobile banking PIN, the customer needs to use his net banking
log-in id and password to access the account.
5)Security
Each bank has different security features to ensure that customers have a safe, secure and
hassle-free mobile banking experience. There may be added authentications such as OTP, grid-
based authentication, etc. to carry out mobile banking transactions.
6)Points to note
The customer’s mobile number must be registered with the bank in order to access mobile
banking facility. To ensure security, it is advisable to not use the same PIN for mobile banking as
well as ATM transactions.
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HOW TO USE A MOBILE BANKING APP?
We all know what Mobile Banking is – practically everyone uses it these days. But did you know
how to use Mobile Banking properly? Are you aware of the many things you can do with that
handy app that you have in your mobile? If not, here’s a primer on the myriad things you can do
with a Mobile Banking app.
The ABCs of mobile banking apps

• Checking your balance: Well, this is one of the basic things that many people use a
Mobile Banking app for. Has that salary arrived in my account yet? Do I have enough
money in my account to last the month? Of course, these are important things, and it’s
always a good idea to know about them quickly through your mobile phone app to prevent
panic attacks.
• Funds transfer: Want to transfer money to your folks back home? No worries – the mobile
phone app will allow you to do that in a variety of ways like Immediate Payment (IMPS),
National Electronic Funds Transfer (NEFT) You can also use apps like UPI linked to your
bank that allow you to transfer funds quickly and easily.
• Pay your bills: There were days when you had to go to an office to pay your electricity
bill. You had to write out a cheque, wait in line, and hand it over to the cashier along with
the bill – and waste the better part of the day. That’s all history now. All you need now is
log into your mobile phone app and pay the bill – it’s over in just seconds! Even better, you
can leave standing instructions to pay bills automatically whenever they come – for power,
water, gas, mobile phone etc.
• Recharge your mobile phone: No problems -- the mobile app will do that for you.
• Open a fixed deposit: You don’t have to keep cash balances lying in your Savings
Account for long. Your mobile phone app will allow you to open a Fixed Deposit in no time
at all. You can thus maximise your returns and move funds to an FD whenever they come
into your account.
• Investments: You can check your share portfolio instantly by looking at your Demat
Account through the mobile app. You can even purchase Mutual Funds and insurance
products!
• Cheques: You can make various service requests like for a new chequebook etc. You can
also stop payments if you feel that you have issued a cheque wrongly.
• Check credit card transactions: You can check Credit Card transactions and pay your
bills too.
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The Mobile Banking app is a modern marvel, and you should make full use of it. This is what is
Mobile Banking, in the truest sense! Some Mobile Banking apps even offer you the options of
making train and airline bookings, hotel reservations and so on -- the possibilities are indeed
endless.
How to use Mobile Banking?
To use mobile banking, all you need to do is follow these simple steps:
• Download the mobile banking application from the play store
• You need to activate the app by following a few steps. Some banks allow the customer to
set a mobile banking PIN, while others send a default MPIN as an SMS. The mobile
banking PIN must be entered each time you wish to access the mobile banking services.
• After activation of the account and entering the mobile banking PIN, you need to use your
net banking log-in id and password to access the account.
Each bank has different security features to ensure that you have a safe, secure and hassle-free
mobile banking experience. There may be added authentications such as OTP, grid-based
authentication, etc. to carry out mobile banking transactions safely and securely.
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Online banking vs Mobile banking
Online Banking
Online banking refers to any banking transaction that can be conducted over the internet,
generally through a bank’s website under a private profile, and with a desktop or laptop computer.
These transactions include services traditionally offered at local branches without having to go to
one. Online banking is generally defined as having the following characteristics:
• Financial transactions are conducted over the internet through a bank’s secure website.
• The bank may have physical branch locations, or it may exist only online.
• The user must register with the financial institution online and create a login ID and
password.
Customers can perform financial transactions while banking online, like paying bills or transferring
money from one account to another. Other basic activities include:
• Viewing account balances at any time of day
• Viewing or printing statements
• Viewing images of checks
• Applying for loans or credit cards
In essence, a customer can do almost any activity online that he or she would be able to do in
person when visiting a branch.
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Mobile Banking
Mobile banking allows you to perform many of the same activities as online banking using a
smartphone or tablet instead of a desktop computer. However, simply accessing the bank’s
website on a mobile device is not the only method of mobile banking. Mobile banking’s versatility
includes:
• Logging into a bank’s mobile website
• Using a mobile banking app
• Text message (SMS) banking

While more banks are making their sites easier to use on mobile devices, mobile banking is more
commonly associated with accessing your accounts through an app.
Apps can offer a wide range of services that are not limited to account access and include the
following:
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• Making mobile check deposits
• Transferring money
• Paying Bills
• Locating ATMs
Mobile and online banking provides convenience to customers who want to manage their finances
while on-the-go; both options allow a person to conduct financial business from outside a banking
facility.
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MOBILE BANKING VS. TRADITIONAL BANKING
THE DIFFERENCE BETWEEN MOBILE AND TRADITIONAL BANKING
Internet banks may have fewer fees, but you won’t usually get personalized service. Traditional
banks provide one-on-one customer service, but you may have to complete your banking during
business hours. Some traditional banks, like American Savings Bank, offer combined elements
of online and traditional banking to give customers a hybrid option that serves all of their needs.
If you’re thinking about opening a new bank account, it can be difficult to choose between personal
customer service from a traditional bank or the convenience of an online-only bank. The good
news is there are options to get access to both a friendly banking team and useful online banking
tools through banks like ASB.
PROS AND CONS OF MOBILE BANKING
Mobile banking has gained popularity recently as many banking customers have become more
tech-savvy. Using an online-only bank can help startup businesses reduce banking costs or help
a busy family manage their money on the go. This convenience comes at a price, as most online-
only banks have limited customer service options. Some can only be contacted through email.
That means if you’re having issues with a product, you’ll have to wait until the customer service
team gets back to you.
Pros of Mobile Banking

• Easy to sign up or apply for new accounts online.
• Offer extensive mobile apps to manage almost every aspect of your account from almost
anywhere.
• Low fees or no fees for services like checking and savings accounts and some loan
products.
• Most online-only banks use an ATM network so you can still access cash from your
account.
• Typically have better interest rates on savings accounts over traditional banks.
Cons of Mobile Banking

• No access to in-person help and limited customer service options.
• Difficult to deposit cash without branch locations. You may need to put money into a non-
online bank and then transfer it to your online-only bank.
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• Limit access to products. For example, the bank might offer checking and savings
accounts, but not Certificates of Deposit or personal loans.
• There’s not much you can do if technological issues cause your bank to go offline, whether
it’s planned maintenance or an unexpected website crash.
• Potential limits on daily cash withdrawals.
PROS AND CONS OF TRADITIONAL BANKING
Sometimes it just makes more sense to talk with someone face-to-face. Traditional banks have
physical locations that you can visit and get instant support from in-person interactions with a
teller. However, using a traditional bank might mean you have higher fees on your account. Some
traditional banks also offer limited online banking options. If you can’t complete a task over the
phone or online, you’ll have to go to a branch during business hours to manage your account.
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Pros of Traditional Banking
• The banking team often gets to know their customers for more personalized and friendly
service.
• Easy to manage cash deposits by going to a local branch.
• Fast cash withdrawals from branch ATMs, drive-thru, or inside the branch with few
limitations.
Cons of Traditional Banking

• You may not have online banking access, or the online features are outdated.
• Fees tend to be higher than online banks.
• You may earn less interest on money in a savings account.
• Opening an account can take longer and you may need to complete a paper application.
• If there’s something you can’t manage online, you’ll have to wait until you can get into a
branch for service.
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Top mobile banking apps in India 2021
1) ICICI Bank iMobile Application
Google Play Store rating: 4.5 stars
Downloads: 10,000,000+
The iMobile app by ICICI Bank is one of the most preferred mobile banking applications in India.
The app is supported by both Android and iOS operating systems. iMobile app is a comprehensive
and secure mobile banking platform with over 170 banking services.
The app allows users to enjoy a host of banking and financial services. iMobile application
provides safe and secure banking anytime, anywhere.
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Features and benefits offered by iMobile app
ICICI Bank account holders can download the iMobile app and enjoy the following
services:
• Send and receive funds instantly through UPI payments to and from contact number and
email ID.
• Quickly transfer funds with NEFT/RTGS/IMPS.
• Pay credit card, utility bills online.
• Scan to pay.
• Open fixed deposits and recurring deposits.
• Buy and manage life insurance policies.
• Start investing in mutual funds.
• Check your bank balance, view and email detailed account statement and passbook
online.
• Complete your transactions like mobile, DTH, etc. recharge.
• Track your deliverables.
• Check the status of your cheque and order a chequebook.
• Track your service requests.
There is a wide range of other services that ICICI Bank customers can avail themselves of through
the iMobile app.
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2) HDFC Bank Mobile Banking Application
HDFC Bank is one of India’s largest banks. With the HDFC Mobile Banking App, customers can
instantly and securely access both personal and business banking services through their
smartphones or tablets.
The app is designed with advanced encryption and security features to keep customers’
information private and secure. Supported by both Android and iOS, the app allows its users to
access a wide spectrum of banking services on the go.
Features and benefits offered by HDFC Mobile Banking app
Customers can install the HDFC Mobile Banking App to carry out over 120 banking functions right
from their own comfort. Here are some of the top features and benefits that customers can avail
of using the HDFC Mobile Banking App:
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• View their account summary.
• Transfer funds.
• Make credit card, utility bill, and recharge payments.
• Instant and secure login.
• Quickly transfer funds with NEFT/RTGS/IMPS.
• Manage your Demat account and start investing.
• Update personal information.
• Download TDS certificate.
• Apply for a loan.
• Apply for a new savings account.
3) State Bank of India YONO Application
Needless to say that State Bank of India is the largest bank with the largest customers in the
country. The bank offers a wide spectrum of banking services to its customers through the SBI
YONO app.
It allows customers to transfer funds, pay bills, make investments, shop, apply for cards, book
movies and IRCTC tickets, and a lot more. The app can be used for banking services even
outside India.
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Features and benefits offered by the YONO app
SBI customers can download the YONO app and enjoy the following services:
• Instant account opening in just 5 minutes

• View your bank statement online
• Quickly transfer funds with NEFT/RTGS/IMPS
• Carry out basic banking transactions such as fund transfer, shopping, bill payment, ticket
booking, etc.
• Place request for checkbooks and ATMs
• Get a pre-approved personal loan on the go in 2 minutes
• Avail overdraft against Fixed Deposit
• Quick fund transfers with UPI enabled payments
• Change ATM PIN, block ATM cards/Debit cards or stop cheques
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4) Axis Bank Axis Mobile Application
The Axis Mobile app is a new-age mobile banking platform with over 100 cutting-edge features
and services for all banking needs of customers. Apart from usual services like fund transfer and
balance inquiry, the app allows users to schedule credit card payments, convert credit card
payments to EMIs, block cards and replace them.
Features and benefits offered by Axis Mobile app
Axis Bank customers can download the Axis Mobile app and enjoy the following services:
• Scan and pay instantly through UPI.

• Make your UPI QR code.
• Apply for retail and business loan.
• View account summary, bank statement, transaction details.
• Instantly open an online savings account in 3 steps.
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• Open FD & RD with a click.
• Access your deposit, forex, Demat, and mutual fund details easily.
• Block and replace your cards.
• Instantly transfer funds with NEFT/RTGS/IMPS.
• Locate nearby Axis Bank Branches, ATMs, and dining delights.
• Temporarily deactivate debit cards and set limits on debit card purchases.
• Set standing instructions and auto-pay bills for over 200 utility services.
5) Bank of Baroda’s BOB WORLD Application
The bob world App is a feature-loaded mobile banking app of Bank of Baroda. The app allows
users to access a host of banking products and services, from instant fund transfer to utility bill
payment and cardless cash withdrawals from Bank of Baroda ATMs. Customers don’t need to
pay for these services.
Features and benefits offered by Bank of Baroda app
Customers can download the Bank of Baroda bob world app to get the BOB mobile banking
benefits:
• Instant fund transfer within BOB, to other banks via NEFT/RTGS/IMPS.

• Mobile/DTH/utility recharges.
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• BOB card bill payment.
• Scan to pay.
• Request a checkbook.
• View account balance and transaction details.
• Open and close FD and RD.
• Update Aadhaar and other information.
• Change MPIN, De-link accounts.
• De-link accounts.
• Locate branch and ATM near you.
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6) Kotak- 811 & Mobile Banking Application
To offer customers seamless banking services on the go, Kotak Mahindra Bank has launched
Kotak- 811 & Mobile Banking App. Kotak Mahindra Bank customers can use 100+ features
available on this app.
New customers can open a Kotak Mahindra savings account and start using this app for almost
all banking services like bill payment, fund transfer, investment, shopping and accessing bank
statements.
Features and benefits offered by Kotak- 811 & Mobile Banking App
Download Kotak-811 & Mobile app to access digital banking services as follows:
• Transfer money instantly using UPI.

• Transfer funds easily on the go via NEFT/RTGS/IMPS.
• Book train tickets using IRCTC.
• Shop on Flipkart, KayMall, and Goibibo.
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• Instantly recharge your mobile & DTH subscriptions.
• Purchase and redeem Mutual Funds and maintain your investments accounts.
• Apply for a Kotak Credit Card.
• Regenerate your Debit/ Credit card PINs.
• Temporarily switch off your Kotak Debit Card for security purposes in case of loss or
pilferage.
• Make Credit Card bill payments online.
• Check your savings/ current account statement.
• Check your account balance.
• Open a Fixed Deposit or Term Deposit.
• Click a selfie or upload your photo to set it as a profile picture.
7) Canara Bank CANDI- Mobile Banking Application
With the objective of offering almost all banking services through one platform i.e. ‘One Bank,
One App’, Canara Bank introduces ‘CANDI’ mobile banking app, a lite version of the bank’s
internet banking.
CANDI app is an intuitive and multi-channel mobile Banking app that offers a host of customer-
centric functionalities such as multi-mode funds transfer i.e. RTGS, NEFT & IMPS, loan
application, scheduled payments, EMI payment, integrated bill pay, integrated UPI, etc., as
additional features.
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Features and benefits offered by the CANDI app
You can download the CANDI app to enjoy digital banking services offered by the bank as under:
• Fund transfer to other bank customers through IMPS.

• Manage beneficiaries.
• Scan to pay QR codes using Bharat QR.
• The view account statement, loan, credit card, and term deposit details.
• Request for Cheque book.
• View all the transactions initiated from your Canara Mobile Banking app.
• Locate nearest Canara Bank Branches & ATMs using GeoLocate.
• Open additional Canara Bank account.
• Switch on/off, set debit card limit.
• Swipe facility for missed call and message services.
• Get all your account information like account statements, credit cards, etc.
• Get the latest updates on Banking Products.
• Pay your bills.
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8) IDBI Bank GO Mobile+ Application
IDBI Go Mobile+ App simplifies the consumer’s banking experience by providing a wide range of
features and services anytime, anywhere. The IDBI Go Mobile+ app allows users to view account
statements, transaction history, transfer funds, make bill payments, etc. IDBI Bank implements
sophisticated encryption technology for data security and privacy.
Features and benefits offered by IDBI Bank GO Mobile+ app
You can download the IDBI Bank GO Mobile+ app to enjoy digital banking services offered by the
bank as under:
• Transfer funds with NEFT/ RTGS/ NEFT.

• View your bank statement, account statement, transaction details.
• Access Demat holdings.
• Pay bills, add billers, scheduled auto-pay.
• Recharge your prepaid mobile and DTH subscription.
• Request a checkbook.
• Link and update Aadhar card.
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• Calculate returns on investment to make the informed decision.
• Set your own ATM and PoS transaction limit to control your debit card.
• Switch your Debit card transactions On or Off.
• Set domestic or international usage on your card.
• Instantly block misplaced or lost cards.
• View your frequently used options on the main screen or menu drawer at the bottom of the
screen.
• Apply, view, and manage your credit card from IDBI Bank.
• Apply for loans or credit ca
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CHAPTER 3
REVIEW OF LITEARTURE
Manjula Bai. H (2019): He has analysed “Mobile Banking Services and Customer Satisfaction
with Reference to ICICI Bank”. This paper aims to analyse the recent developments in mobile
banking system in India and to determine the optimistic and pessimistic influence of mobile
banking on the customers of ICICI bank. The finding of the study shows that majority of
respondents are satisfied with the mobile banking services provided by ICICI bank.
Ankita Pathak and Sunil Mishra (2019): They had presented a study on “Consumer Behavior
and Attitude towards Mobile Banking: An Empirical Analysis”. This study aims to analysethe
attitude and consumer awareness towards the use of mobile banking services. This research
study revealed that the various factors such as ease to use, usefulness, and convenience makes
the people to use facility of mobile banking. Consumer mindset has been changing frequently
based on the changes in technology in banking organization.
Amola bhatt, S. B. (2016): In his article “Factors Affecting Customer’s Adoption of Mobile
Banking Services. Journal of Internet Banking and Commerce” he says demographic, attitudinal,
and behavioural characteristics of mobile bank users were examined. The infrastructural facility
of updated user friendly technology and its availability was found to be the most important factor
that motivated consumers’ attitudes. This study identified two additional factors i.e. infrastructural
facility and customer service relevant to mobile banking that were absent in previous researches.
Preeti Singh(2011):The study finds out that there are several problems applicable to mobile
banking services. According to this study from the customers point of view security, standard of
services provided by banks, mobile operations are some of the analytical issues or challenges
faced by mobile banking in India.
Giuseppe Tardivo, Milena Viassone and Gian Luigi Gola(2014): They have presented a study
on “Young customers’ perception of the quality of M-banking services”. This study mainly focuses
on the diffusion of Mobile banking among young people and to measure their satisfaction towards
mobile banking. This research study revealed that a good level of customer satisfaction by young
people towards Mobile banking services that prevalently comes from reliability and the possibility
of saving time offered by these services.
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Miss. R. Elavarasi and Dr.S.T.Surulivel (2014): In this study indicated about the various e-
banking services provided to customers and had also identified satisfaction level among
customers about internet banking. The data analysis shows that age, educational qualification,
occupation, income level of customer are significant factor that decide usage of e-banking
services of various banks in the study area.
Sandhya Ragaur (2014): In this study it was mentioned that in today’s scenario people are using
and doing mobile transaction at a large scale. Mobile banking is a subset of electronic banking. It
is the latest and most innovative services offered by the banks through electronic channels such
as ATM, Internet banking, tele-banking and mobile banking. The research is an attempt to study
the consumer awareness on mobile banking.
Ubadineke, Francis.N (2009): In this study it indicated that advances in information technology
and telecommunications are resulting in new delivery channels for bank products and services in
the developing countries.
Simplice A.Asongu ,Nicholas M Odhiambo (2017): A study that enquire into the relationship
between mobile banking & inclusive development that includes quality of growth , in equality and
poverty. The conclusion that can be drawn out is that mobile banking application will play a
supreme role in responding to the problems of deficient growth, inequality & poverty of the
developing countries.
NidhiSingh, Neena Sinha (2016): This study is concerned with mobile banking which states that
the banking sector has to create more consciousness to the customers regarding the banking
services provided by the banks. This study also reflects the alteration of traditional method of
transaction used by the customers by adding mobile banking services.
Hsiu-Fen-Lin(2011):This study proves that the new technological improvements in banking

services like mobile banking have improved to a great extent which promotes the customers to
follow the new banking services like mobile banking .The results of this study states that some of
the advantages of mobile banking helped the customers to accept the mobile banking services
provided by the banks.
Dr.Rejikumar G, Sudharani Ravindran D(2012): In the journal of internet banking & commerce
studied about the factors affecting the prolongation decisions of the early adopter of mobile
banking services. The study proved that after choosing the new technology, the customer finds
satisfaction in the quality frame work of the services.
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Prerna Sharma (2012)9: This study was conducted on mobile banking in India: barriers in
adoption and services preferences. He revealed in his study mobile banking is growing yet there
are numbers of issues and threats in mobile banking system and the major problem of mobile
banking is its non-adoption by the customers and also research focuses on the barriers in
adoption of mobile banking. It further focuses on preferred services by the mobile banking
customers and influence of demographic variable on mobile banking service adoption. A cross-
section descriptive design was adopted and data collected was subject to Product moment
correlation, one-way Kolmogorov-Smirnov test and frequency analysis. Finally this study
suggests that customers security concern is the major barrier in adopting mobile banking services
and also preferred services are concern balance check tops, as customers prefer information
based services rather than financial services provided by the bank.
LalithaBalakrishnan (2016) 13: This study also revealed on factors affecting mobile banking
services–An empirical study on adoption of mobile banking mode of services, presently the
Internet technology has brought the third revolution to this world. The banking sector has been
upgrading their services with the use of technology from time to time like introducing the ATM –
Automatic Teller machine which took more than a decade to get popular and the phone and net
banking took half the time of ATM. In this study identifies mobile banking technology which is the
third era of technology of banking sector after phone and net banking and comparatively its growth
is phenomenal when compared to the first two eras. Even in India the Mobile Banking is growing
fast because of the world‟s largest subscriber base in mobile sector after China.
Suresh(2017) 14: This study focused on changing consumer behaviour for mobile banking
services in India. Mobile banking is the latest and most innovative service offered by the Banks.
The purpose of the study is to investigate determinants of Mobile banking adoption based on an
individual “benefits and costs of adopting mobile banking. The main factors that determine the
customer satisfaction of mobile banking in India are security, efficiency, cost effectiveness, easy
demand fulfillment and correctness in results. It aims to analyse the customer response and
customer satisfaction of mobile banking through these factors. Mobile banking is one of the
alternatives in e- channels available to customer for quick and efficient of service at anytime of
the day and from anywhere to use. Banks can also use to unable the banking for increasing the
efficiency of their staff create a platform. Finally this paper an endeavour has been made to
explore the consumer satisfaction of the new electronic payment service as mobile banking and
the factors influencing the adoption of mobile banking services.
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Vyas (2009): Stated that Indian banks will target non- online banking users who may lack regular
access to desktop internet but are very likely to own a mobile device, thus reporting great potential
of Mobile banking in India. This report of Vital Analytics suggested huge potential of Mobile
banking in India, as it found that urban Indian customers‘ checking account balance is the most
frequently cited reason for using Mobile banking. 40 million Urban Indians used their mobile
phones to check their bank account balances followed by viewing last three transactions.
A.Palani, P. Y. (2012): In his article” A Study On Customer Perception Towards Mobile Banking
In Indian Overseas Bank Chennai” his research , carried out to confirm the model of mobile
banking. The causes were identified and researched through correcting the causative factors so
that mobile banking can be used by more people. This will help the banking operations to be more
cost effective. The research is focused on what are the customer’s perceptions about mobile
banking offered by Indian Overseas Bank and what are the drivers that drive consumers. He
found that still the users face many problems right from the telecom operator to banks, the
handset to software application support for using services.
Chandran, R. (2014): In his article “ Pros and cons of Mobile banking. International Journal of
Scientific and Research Publications” he says that Over the years, banking has transcended from
a traditional brick-and mortar model of customers queuing for services in the banks to modern
day banking where banks can be reached at any point for their services. It is well recognized that
mobile phones have immense potential of conducting financial transactions thus leading the
financial growth with lot of convenience and much reduced cost. For inclusive growth, the benefits
of mobile banking should reach to the common man at the remotest locations in the country.
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CHAPTER-4
DATA ANALYSIS
INTERPRETATION:
• The above pie chart indicates of 100% respondents. (50 respondents)
• 56% of respondents were Male.
• 42% of respondents were Female.
• 2% of respondents didn’t reveal their Gender.
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INTERPRETATION:
• 76% of respondents age were between 18-30 years.
• 22% of respondents age were between 31-60 years.
• 2% of respondents age were above 61 years.
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INTERPRETATION:
• 24% respondent were HSC.
• 62% respondent were Graduate.
• 14% respondent were Post Graduate.
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INTERPRETATION:
• 6% of respondents were Government employees.
• 20% of respondents were private Employees.
• 66% of respondents were Students.
• 8% of respondents were Professional Services.
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INTERPRETATION:
• 56% of respondents started using M-Banking after opening bank account.
• 20% of respondents started using M-banking Before Covid-19 pandemic.
• 14% of respondents started using M-banking During Covid-19 pandemic.
• 10% of respondents still not using M-banking.
(Note: - The questionnaire got close for those who are not using M-Banking)
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INTERPRETATION:
• The above pie chart indicates of 100% respondents. (45 respondents, 5 respondents
excluded because they are not using M-Banking)
• 27% of respondents got to know about M-Banking through Media.
• 6% of respondents got to know about M-banking through newspaper.
• 40% of respondents got to know about M-Banking through Relatives/friends.
• 27% of respondents got to know about M-Banking through Bank Staff Members.
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INTERPRETATION:
• 22% of respondents have experience of using M-Banking Below 1 year.
• 36% of respondents have experience of using M-Banking between 1-2 years.
• 27% of respondents have experience of using M-Banking between 3-4 years.
• 15% of respondents have experience of using M-Banking above 7 years.
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INTERPRETATION:
• 24% of respondents use M-Banking on Daily Basis.
• 31% of respondents use M-Banking on Weekly Basis.
• 22% of respondents use M-Banking on Monthly Basis.
• 22% of respondents use M-Banking Occasionally
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INTERPRETATION:
• 9% of respondents are interested in checking Account Balance.
• 9% of respondents are interested in Paying Bills
• 22% of respondents are interested in transferring money between own and other party.
• 60% of respondents are interested in all above transactions.
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INTERPRETATION:
• 60% of respondents have sufficient knowledge about M-Banking.
• 40% of respondents have Average knowledge about M-Banking.
• It shows that all respondents have enough knowledge of M-banking.
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INTERPRETATION:
• 60% of respondents Agree that Covid-19 Pandemic Highlighted the importance on M-
Banking.
• 7% of respondents Disagree that Covid-19 Pandemic Highlighted the importance on M-
Banking.
• 33% of respondents having neutral decision on above question.
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INTERPRETATION:
• 64% of respondents Agree that Transfer of funds though mobile banking is safe and
secure.
• 0% of respondents didn’t agree that Transfer of funds though mobile banking is safe and
secure.
• 36% of respondents Don’t No whether Fund transfer through mobile banking is safe or not.
Page 68 of 80
INTERPRETATION:
• 20% of respondents got motivated to use M-Banking because it is time friendly as it saves
time.
• 20% of respondents got motivated to use M-banking because it is easy to understand and
use.
• 9% of respondent got motivated to use M-banking because of covid-19 pandemic.
• 51% of respondent got motivated to use M-banking because of all the above factors.
Page 69 of 80
INTERPRETATION:
• 18% of respondents Agree that they have privacy issues with usage of M-banking.
• 51% of respondents Disagree that they have privacy issues with usage of M-banking.
• 31% of respondents are neutral on any privacy issues with usage of M-banking.
Page 70 of 80
INTERPRETATION:
• 44% of respondents are Extremely Satisfied with usage of M-banking during Covid-19
pandemic.
• 42% of respondents are Satisfied with usage of M-banking during Covid-19 pandemic.
• 13% of respondents are Neutral with usage of M-banking during Covid-19 pandemic.
• 0% of respondents are dissatisfied with usage of M-Banking during Covid-19 pandemic.
Page 71 of 80
CHAPTER-5
FINDINGS OF THE STUDY
Following are the major findings of the studies: -
• As per the data we got to know that male use major M-banking services.
• Data shows that M-Banking services are majorly used by young generation of country.
• Study shows that the most users are graduate and postgraduate.
• Majority of population were students and very few were government employees.
• Majority of population started using M-Banking service after opening bank account and
more population started using M-Banking service during Covid-19 Pandemic.
• Most of the population got to know about M-Banking services through Relatives and
Friends.
• Majority of population have experience of using M-banking service of 2 years and very few
user have experience of less than 1 year and some users have M-banking experience of
more than 7 years.
• Study shows that most of the population use M-Banking services regularly.
• Main reason for using M-banking service is to pay Bills, making online transfer to another
person and check balance.
• As per data we got to know that majority of population have sufficient knowledge about
usage of M-Banking services.
• Most of the people understood the important of M-banking service during Covid-19
pandemic.
• All users agreed that fund transfer through M-Banking service is safe and secure.
• Majority of population got motivated to use M-Banking service due to easy interface, time
friendly and cost effective.
• Study shows that majority of population don’t have any privacy issues with the M-Banking
services.
• During Covid-19 pandemic most of the users are extremely satisfied with the usage of M-
Banking service.
Page 72 of 80
CHAPTER-6
SUGGESTIONS
✓ The banks should maintain the safety and security transactions for the customers.
✓ The banks try to develop the highly satisfaction level of customers towards every mobile
banking services.
✓ The banks should increase their service quality in means of accuracy of transaction,
transaction speed, trustworthy, easily accessible services and reliability of services.
✓ Customers must be given individual training regarding the usage of the mobile banking
services who want to avail such services as they may not be technically sound and also it
takes some time for understanding the technology.
✓ Bank should give clear information to the customers about charging of service cost while
the mobile banking transactions.
✓ Bank should give more advertisement to attract the mobile banking customers.
✓ Customers should be motivated to use more or other e-banking services.
✓ Customers should be explained regarding the benefits of using various e-banking services.
✓ Majority of the bank customers using ATM services for their consumption so here it is an
opportunity for the banker to do marketing of various banking services through ATMs.
✓ Time is precious therefore the banks must come up with a system that tries to solve the
issues on such factors affecting the Mobile banking services.
Page 73 of 80
CHAPTER-7
CONCLUSION
The current study focused on customer’s perception towards mobile banking services specially
in Covid-19 Pandemic. From this analysis majority of the customers have positive opinion, mobile
banking is very easy to understand and navigate. Mobile banking provides faster services, easy
to make transfer funds and easy to make a balance inquiry. This study concluded that out of 100%
of population 90% of population use M-banking services. As per Gender, more than 50% male
population use M-Banking services whereas more than 40% female population use M-Banking
services. Through primary data we conclude that more than 60% of population started using M-
Banking services which shows that Banks haven’t done well in their M-Banking service promotion
during Covid-19 pandemic year 2021. As more and more customers adopt the M-Banking service
for their banking transactions, it becomes important for management of banks to be innovative in
their approach to customer requirement.
This study finds out that out of 100% of population 86% of population are satisfied with usage of
mobile banking service during Covid-19 pandemic in Mumbai city. This study shows that bank
should provide a training and create awareness to customers regarding the technical aspects
more effectively through Media promotion which will definitely lead more customers to adapt the
mobile banking services in Mumbai City.
Page 74 of 80
CHAPTER-8
ANNEXURE
1. Gender
a) Male
b) Female
2. Age Group
a)18-30
b)31-60
c)61+
3. Qualification/Education
a) Below SSC
b) HSC
c) Graduate
d) Postgraduate
4. Occupation
a) Govt Employee
b) Private Employee
c)Student
d) Professional Service
5. When You started using Mobile Banking?

a) After Opening Bank Account
b) Before Pandemic Covid-19
c) During Pandemic Covid-19
d) Not using M-Banking
Page 75 of 80
6. Awareness of mobile banking
a) Through Media
b) Newspaper
c) Relatives/Friends
d) Through Banks Staff Members
7. Your Mobile banking experiences?

a) Below 1 year
b) 1-2 years
c) 3-4 years
d) Above 4 years
8. Frequency Of using Mobile Banking during Pandemic?

a) Weekly
b) Monthly
c) Yearly
d) Occasionally
9. Most Interested Mobile Banking Activities During Pandemic.

a) Checking Bank Account Balance
b) Paying Bills
c) Transferring money between own/another party account.
d) All of above.
10. Knowledge of Mobile Banking

a) Sufficient Knowledge
b) Average Knowledge
c) Poor Knowledge
Page 76 of 80
11) Do you feel Covid-19 Pandemic Taught you the Importance of using Mobile Banking?
a) Agree
b) Disagree
c) Neutral
12) Do you feel Transfer of funds through Mobile Banking are safe?
a) Agree
b)Disagree
c)Neutral
13) Factors motivating you to adopt Mobile banking

a) Time friendly
b) Easy to use
c) Covid 19 Pandemic
d) all above
14) Do you have any privacy issues with usage of mobile banking?
a) Agree
b) Disagree
c) Neutral
15) Satisfaction Level For using Mobile Banking Specially During COVID-19 Pandemic.
a) Extremely Satisfied
b) Satisfied
c) Neutral
d) Extremely Dissatisfied
Page 77 of 80
CHAPTER-9
BIBLIOGRAPHY
❖ Ankita Pathak and Sunil Mishra (2019) “Consumer Behavior and Attitude towards Mobile
Banking: An Empirical Analysis”. International Journal of Innovative Technology and
Exploring Engineering (IJITEE), Volume-8, Issue-6S, April 2019.
❖ Manjula Bai. H (2019)“Mobile Banking Services and Customer Satisfaction with Reference
to ICICI Bank”. International Journal of Commerce, Volume: 7, Issue: 2, Month: April, Year:
2019.
❖ Mohan Raja (2018) “A study on customer attitude towards mobile banking with special
reference to Erode district”, International Journal of Trend in ScientificResearch and
Development (IJTSRD), Volume – 2, Issue – 1, July 2018.
❖ Dr. Krishnasamy. S, Maharaja. M and Vinayasree. S (2018) “Customers’ satisfaction
towards mobileBanking services in Tuticorin district, Tamilnadu”. International Journal of
Management, Technology and Engineering, Volume-8, Issue-xii, December-2018.
❖ Aiswarya Sivarajan, Juby Fachel Philip and Abymon. A (2018) “A study on the consumer
perception towards Mobile banking services of State Bank of India”- With special reference
to Kollam District”. International Journal of Pure and Applied Mathematics, Volume-119,
no. 15 2018.
❖ Ms. Shilpa D. and Dr. Veena K.P (2018) “Customer Satisfaction on Adoption of Mobile
Banking Services: A Study with Special Reference to State Bank of India (SBI)”. IOSR
Journal of Business and Management (IOSR-JBM).Volume-20, Issue-1. (January. 2018),
PP 44-50.
❖ Trilok,Singh., (2017).“A study of changing consumer behavior for mobile banking services
in India”. International Journal on Arts, Management and Humanities, ISSN No. (Online):
2319–52316(2): 72-75.
❖ Mahalakshm. K. R and Kalaiyarasi. P (2016)“A study on use of mobile banking and
customer satisfaction with special reference to Trichy region”. Imperial Journal of
Interdisciplinary Research (IJIR) vol-2, issue-5, 2016.
❖ Giuseppe Tardivo, Milena Viassone and Gian Luigi Gola (2014)“Young customers’
perception of the quality of Mobile-banking Services”. Universal Journal of Industrial and
Business Management, 2(8): 200-209, 2014.
❖ Umrez. M, Jyothi. K and Haseena. D (2014) “An empirical study on the customers opinion
towards mobile banking” Global journal of commerce and management perspective,
Vol.3(3):15-17 (may–june, 2014).
Page 78 of 80
❖ Open Access Journals | OMICS International (omicsonline.com)
❖ https://www.afinoz.com/blogs/top-mobile-banking-apps-in-india
❖ https://www.bobworld.com/
❖ https://www.hdfcbank.com/\
❖ https://www.axisbank.com/
❖ https://www.onlinesbi.com/
❖ https://www.icicibank.com/blogs/mobile-banking/difference-between-mobile-and-
internetbanking.page
❖ https://www.kotak.com/en/digital-banking/ways-to-bank/mobile-banking.html •
❖ https://canarabank.com/
❖ https://www.idbibank.in/
❖ https://www.centralbankofindia.co.in/en
❖ https://www.investopedia.com/terms/m/mobile-banking.asp
❖ https://www.palisadesfcu.org/blog/mobile-banking-benefits
❖ https://www.incrediblebank.com/news-and-articles/7-benefits-of-mobile-banking
❖ https://www.bankbazaar.com/savings-account/top-5-mobile-banking-apps.html
❖ https://taxguru.in/finance/mobile-banking-services-india.html
❖ https://www.paisabazaar.com/banking/mobile-banking/
❖ https://en.wikipedia.org/wiki/Mobile_banking
❖ https://corporatefinanceinstitute.com/resources/knowledge/finance/mobile-banking/
❖ https://www.bankofindia.co.in/
❖ http://www.jctjournal.com/gallery/93-nov2019.pdf
Page 79 of 80
❖ https://journals.sagepub.com/doi/10.1177/2158244020935887
❖ https://www.worldwidejournals.com/indian-journal-of-applied-research-
(IJAR)/article/customer-satisfaction-towards-mobile-banking-
astudy/MTQ3MDc=/?is=1&b1=21&k=6
❖ https://www.ijitee.org/wp-content/uploads/papers/v8i12S/L109410812S19.pdf
❖ https://economictimes.indiatimes.com/industry/banking/finance/banking/five-tips-to-
securemobile-banking-transactions/articleshow/37828220.cms
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CHAPTER-1

INTRODUCTION TO THE STUDY

1.1 OBJECTIVES OF THE STUDY

➢ To study customer perception towards mobile banking during Covid-19 pandemic.

Sample size is 50 respondents

Methodology may be visualized as a spectrum from a predominantly quantitative approach

PHILOSOPHIES AND RESEARCH METHODOLOGIES

Few methods of collecting primary data:

• THE HDFC BANK MOBILE APP

• ICICI BANK’S IMOBILE APPLICATION

A Brief History of Mobile Banking.

In one academic model, mobile banking is defined as:

Typical mobile banking services may include:

1. Mini-statements and checking of account history

1. Fund transfer between the customer's linked accounts

1. Portfolio Management services

1. General information such as finance related news

The Importance of Mobile Banking

• Two-Factor Authentication and Biometric Authentication:

• Basic Banking Functions:

• Account Usage Alerts:

• Advanced Financial Management Tools:

• Create and Use a Digital Wallet:

• Submit Travel Notices:

• Access to Bank Reps:

BENEFITS OF MOBILE BANKING FOR BUSINESS.

1. HIGH SPEED OF CUSTOMER SERVICE.

2. LARGE SERVICE COVERAGE AREA.

This is due to the lack of binding to branches, regional centers, etc.

3. HIGH DOWNLOAD VOLUME.

4. THE NUMBER OF MISTAKES MADE DECREASES.

5. THE SPEED OF PERFORMING REPETITIVE TASKS INCREASES.

6. THE CONTROL ACCURACY IS IMPROVED.

9. REDUCING MARKETING COSTS.

It is no longer possible to stop the processes of financial mobilization. Especially if you

4. THE MORE YOU KNOW, THE BETTER.

• Extra charges for internet services:

• Not suitable for large business:

• Convenient but not always prompt:

Interactive Voice Response (IVR):

• Customers dial an IVR number on their mobile phones.

• Customers select an option by pressing the corresponding number on their mobile

• A text-to-speech program reads out the desired information.

• IVR only allows for inquiry-based transactions and general solutions.

Safety of Mobile Banking Applications- What are the parameters?

• The telecom service provider.

• Sign up for online alerts each time account activity occurs.

2)Mobile banking app

The ABCs of mobile banking apps

How to use Mobile Banking?

• Viewing account balances at any time of day

• Viewing or printing statements

• Viewing images of checks

• Applying for loans or credit cards

• Logging into a bank’s mobile website

• Using a mobile banking app

• Text message (SMS) banking

THE DIFFERENCE BETWEEN MOBILE AND TRADITIONAL BANKING

PROS AND CONS OF MOBILE BANKING

Pros of Mobile Banking

Cons of Mobile Banking

PROS AND CONS OF TRADITIONAL BANKING

Cons of Traditional Banking

1) ICICI Bank iMobile Application