banking pdf1
Abstract
Online banking applications have fundamentally changed financial management.
Users can access banking services anytime, anywhere.
This study assesses the effectiveness of online banking apps among students of Colegio de la Purisima Concepcion.
Mixed-method methodology: quantitative data from 332 respondents and qualitative data from 6 participants.
Effectiveness is analyzed across context, input, process, and product dimensions by demographic variables (age, sex, and department affiliation).
Findings show online banking apps are perceived as highly effective but vary based on sociodemographic profiles.
1. Introduction
Online banking apps allow virtual financial management (checking balances, paying bills, transferring money).
Effectiveness: meeting user expectations, ensuring security, and ease of use.
Previous studies indicate a need for banks to educate customers on new technologies.
Usage of online banking apps significantly correlates with usability, perceived risk, trust, and assurance.
2. Literature Review
Context
Online banking landscape evolving due to user demographics and competition.
Investment in mobile banking apps outpacing mobile-optimized websites.
Input
Security measures in digital banking could improve user experience.
Preferences of older users for essential functionalities over advanced options.
Process
Data analysis is essential for understanding online banking user behavior.
Studies suggest that perceived utility and convenience positively influence user attitudes.
Product
Effective online banking correlates with customer satisfaction.
Quality disparities impact willingness to adopt online banking.
3. Methods
Mixed methods approach, utilizing explanatory sequential design:
Phase 1: Collecting quantitative data (questionnaire).
Phase 2: Collecting qualitative data (interviews).
Statistical tests: ANOVA, correlation, regression for hypothesis testing.
4. Results and Discussion
Overall Effectiveness
Mean score of 4.29 (Very Effective).
Highest effectiveness in the product dimension (4.33).
Context Effectiveness
Grand mean of 4.26 indicates overall effectiveness.
High ratings for versatile service offerings and accessible design.
Input Effectiveness
Grand mean of 4.26 indicates high effectiveness.
Users appreciate diverse security features, reinforcing trust.
Process Effectiveness
Grand mean of 4.28 shows apps are effective in guiding user transactions.
Users value features like account history for better financial management.
Product Effectiveness
Grand mean of 4.33 confirms strong performance of apps in functionality and security updates.
5. Demographic Differences in Effectiveness
Context
Significant difference based on age; older respondents rated apps more effective.
No significant differences based on sex or department affiliation.
Input
Significant differences noted by age and department but not by sex.
Process
Significant differences in effectiveness observed based on age and department.
Product
Perceptions of effectiveness vary significantly based on age and department affiliation.
6. Semi-Structured Interview Results
Themes
To Do: Focus on convenience and ease of use.
To Transact: Highlight core functionalities like payments, account management, and transfers.
To Expedite: Emphasis on integrated and streamlined processes.
To Gain: Mention investment functionalities through banking apps.
7. Conclusions and Implications
Overall effectiveness of online banking apps is perceived as very effective.
Demographic factors significantly influence perceptions of effectiveness.
Recommendations include enhancing security, user-friendly design, and regular maintenance.
8. Acknowledgements
Acknowledgements include gratitude for divine support, guidance from mentors, contributions of respondents, and the researcher team's efforts.
References
Detailed reference list provided, citing studies and research that underpin the findings and conclusions of the study.