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.