Mobile Banking in Russia: User Intention towards Adoption

Mobile banking is one of the most dynamic developing types of distance banking services. For the recent years in Russia, the amount of individual bank accounts with the ability of the distance access through mobile devices increased more than by 20 times. Every year more and more banks start to offer mobile banking services. Despite this, the popularity of mobile banking applications is lower than the popularity of other banking services. Thus the problem of mobile banking adoption by customers is still an extremely important problem. The authors analyzed foreign surveys devoted to the exploration of the incentives to mobile banking usage. The model developed by the authors is based on the well-known theoretical and empirical approaches and taken into account Russian peculiarity. As a theoretical basis, the most widespread theories describing technology acceptance and innovation diffusion were used. Using structural equation modeling (SEM) approach, the authors verified key incentives to use mobile banking by mobile Internet users i.a. perceived usefulness and perceived efforts. These results are in accordance with most foreign surveys in this subject area. The findings also will be helpful for banks as they allow these financial institutions to highlight the cutting edge of mobile banking in Russia.