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How perceived value drives the use of mobile financial services apps

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  • Karjaluoto, Heikki
  • Shaikh, Aijaz A.
  • Saarijärvi, Hannu
  • Saraniemi, Saila

Abstract

Mobile information services have revolutionized business models and service delivery methods by facilitating consumer access to information and order placement via mobile apps. In developed markets, mobile banking (m-banking) and mobile payment (m-payment) applications have replaced text-based mobile services. However, extant research has not addressed these mobile financial services apps (MFSAs) adequately from the perspective of consumer behavior. Thus, the present study developed and tested a series of hypotheses related to the antecedents of perceived value of MFSA use; it also examined how such use affects the development of customers’ overall relationships with banks. Our hypotheses were tested using two samples (N = 992; N = 524) comprising different types of MFSA end-users in one of the leading countries in digital banking, Finland. The results supported most of the hypotheses and revealed that self-congruence and new product novelty are the principal drivers of perceived MFSA value. In addition, the findings show that the perceived value of MFSAs yields strong positive effects on customers’ overall satisfaction and commitment to their bank. The present study’s key managerial implication is that banks’ investments in developing MFSAs result in improved relationships with customers and increased business.

Suggested Citation

  • Karjaluoto, Heikki & Shaikh, Aijaz A. & Saarijärvi, Hannu & Saraniemi, Saila, 2019. "How perceived value drives the use of mobile financial services apps," International Journal of Information Management, Elsevier, vol. 47(C), pages 252-261.
    • Handle: RePEc:eee:ininma:v:47:y:2019:i:c:p:252-261
    DOI: 10.1016/j.ijinfomgt.2018.08.014
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    Citations

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    Cited by:

    1. Wu, Lei & Yu, Dongli & Lv, Yongbin, 2023. "Digital banking and deposit: Substitution effect of mobile applications on web services," Finance Research Letters, Elsevier, vol. 56(C).
    2. Lambert Kofi Osei & Yuliya Cherkasova & Kofi Mintah Oware, 2023. "Unlocking the full potential of digital transformation in banking: a bibliometric review and emerging trend," Future Business Journal, Springer, vol. 9(1), pages 1-18, December.
    3. He, Jiaxun & Zhang, Shuang, 2022. "How digitalized interactive platforms create new value for customers by integrating B2B and B2C models? An empirical study in China," Journal of Business Research, Elsevier, vol. 142(C), pages 694-706.
    4. Sudipa Majumdar & Vijay Pujari, 2022. "Exploring usage of mobile banking apps in the UAE: a categorical regression analysis," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 27(3), pages 177-189, September.
    5. Lara Stocchi & Naser Pourazad & Nina Michaelidou & Arry Tanusondjaja & Paul Harrigan, 2022. "Marketing research on Mobile apps: past, present and future," Journal of the Academy of Marketing Science, Springer, vol. 50(2), pages 195-225, March.
    6. Dastane, Omkar & Goi, Chai Lee & Rabbanee, Fazlul, 2023. "The development and validation of a scale to measure perceived value of mobile commerce (MVAL-SCALE)," Journal of Retailing and Consumer Services, Elsevier, vol. 71(C).
    7. Maduku, Daniel K. & Thusi, Philile, 2023. "Understanding consumers' mobile shopping continuance intention: New perspectives from South Africa," Journal of Retailing and Consumer Services, Elsevier, vol. 70(C).
    8. Zhong, Junying & Chen, Tiao, 2023. "Antecedents of mobile payment loyalty: An extended perspective of perceived value and information system success model," Journal of Retailing and Consumer Services, Elsevier, vol. 72(C).
    9. Eryka Probierz & Adam Galuszka & Tomasz Grzejszczak & Karol Jedrasiak & Tomasz Wisniewski & Tomasz Dzida, 2022. "Overview of Financial Applications for Investing on the Stock Exchange - Regression Models and Sentiment Analysis," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 395-408.
    10. Zogaj, Adnan & Mähner, Philipp M. & Yang, Linyu & Tscheulin, Dieter K., 2023. "It’s a Match! The effects of chatbot anthropomorphization and chatbot gender on consumer behavior," Journal of Business Research, Elsevier, vol. 155(PA).
    11. Zhani, Najlae & Mouri, Nacef & Ahmed, Tariq, 2022. "The role of mobile value and trust as drivers of purchase intentions in m-servicescape," Journal of Retailing and Consumer Services, Elsevier, vol. 68(C).
    12. Rodríguez-Rad, Carlos & Sánchez del Rio-Vázquez, María-Elena, 2023. "The relevance of participation Behavior, organizational Commitment, and attitudinal loyalty to the management of professional associations," Journal of Business Research, Elsevier, vol. 154(C).
    13. Hamzah, Muhammad Iskandar & Ramli, Faten Aisyah Ahmad & Shaw, Norman, 2023. "The moderating influence of brand image on consumers' adoption of QR-code e-wallets," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    14. Wang, Guoqiang & Tan, Garry Wei-Han & Yuan, Yunpeng & Ooi, Keng-Boon & Dwivedi, Yogesh K., 2022. "Revisiting TAM2 in behavioral targeting advertising: A deep learning-based dual-stage SEM-ANN analysis," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    15. George Konteos & Vaggelis Saprikis & Giorgos Avlogiaris & Aristides Papathomas, 2023. "An Extended UTAUT Model to Explore the Influential Factors towards M-Banking Apps’ Use," International Journal of Business and Management, Canadian Center of Science and Education, vol. 17(7), pages 1-29, February.
    16. Seon Hee Kim & Se Ran Yoo & Hyeon Mo Jeon, 2022. "The role of experiential value, novelty, and satisfaction in robot barista coffee shop in South Korea: COVID-19 crisis and beyond," Service Business, Springer;Pan-Pacific Business Association, vol. 16(3), pages 771-790, September.
    17. Alyahya, Mansour & Agag, Gomaa & Aliedan, Meqbel & Abdelmoety, Ziad Hassan & Daher, Maya Mostafa, 2023. "A sustainable step forward: Understanding factors affecting customers’ behaviour to purchase remanufactured products," Journal of Retailing and Consumer Services, Elsevier, vol. 70(C).

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