Customer Experience with Mobile Banking: An Analysis

Abstract

With continuous changes taking place in various areas worldwide, the most significant has been in the field of communication. Even developing countries in Africa are not an exception to this. In fact, the speed at which the communication revolution is taking place in countries like Nigeria has surpassed the progress made by developed countries, and within a short span of two decades, the entire communication scenario has undergone a total change. Today, because of the latest technologies being used in communication, more and more people are resorting to mobile banking, which is increasing the number of customers who are accepting mobile banking. Mobile banking has become a significant part of the global banking business, giving customers access to their banks in a convenient manner. When a bank offers multiple delivery channels for its services without changing the production process, the customer can choose the channel that best meets their needs. One of the most competitive industries is financial services. To gain a competitive advantage, banks are seeking to develop integrated customer services and decrease costs. The mobile phone will shortly become the primary point of contact with professionals outside the home. These and other forces will converge to generate a powerful picture of the rise of the mobile economy. For the banks, wireless technologies will offer a continuum of opportunities to explore their business and servicing models that will improve their product offerings, distribution opportunities, and ultimately profitability.