A Study on Mobile Banking and its Impact on Customer's Banking Transactions: A Comparative Analysis of Publicand Private Sector Banks in India

In India, we have more than 900 million mobile users but still mobile banking is used by 40 million customers approximately. There can be various reasons behind this, such as need of active collaboration between banks and Telecom Company, lack ofaccessibility to customers, cost, awareness about the mobile banking app etc. Banks have to work on creating mobile banking awareness among the customers. They need to promote the benefits of mobile banking and its effectiveness. In this paper, we aim to determine customer perception about mobile banking services of banks. Customer has different views on mobilebanking services provided by their service providers. We examine the expectations of customers from banks towards mobilebanking system. In this paper we also evaluate the impact of mobile banking on customer experience after using mobile banking. This paper reflects the change in transactions mode of customers through mobile banking. This paper also shares the initiatives taken by customers in their banking usage after switching to mobile banking. For the survey, we have selected ten banks (five public sector and five private sector banks) and tried to identify the characteristics of mobile banking system of these banks.