Adoption of Mobile Banking by Microentrepreneurs at the Bottom of the Pyramid

Ruano-Arcos, Leidi; Orejuela, Augusto Rodríguez; Solís-Molina, Miguel

doi:10.25100/cdea.v36i67.8744

Cited by 5 publications

(4 citation statements)

References 34 publications

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“…Trust in technology: This research determines a strong relationship between trust in technology and mobile financial services. Significantly, these findings are consistent with prior research (Benamati and Serva, 2007;Kibicho and Mungai, 2019;Msweli and Mawela, 2021;Ruano-Arcos et al, 2020;Salemink et al, 2017) that considers trust as one of the most important predictors of mobile banking adoption. Moreover, the lack of trust in technology is a factor impacting the adoption of mobile banking.…”

Section: Discussionsupporting

confidence: 91%

“…In Colombia, research has been conducted on mobile banking adoption in various contexts such as services for microentrepreneurs in vulnerable conditions, where trust and attitude are two common factors enabling the adoption of digital services (Ruano-Arcos et al, 2020). Another study highlighted perceived trust and security as the factors influencing the acceptance and use of mobile banking in Colombia (Giraldo et al, 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

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A financial inclusion app and USSD service for farmers in rural Colombia

Nova

González

2022

Information Development

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This study reports the implementation of a financial inclusion app for farmers in rural Colombia. Stemming from the triple helix initiative, this study aims to make public financing instruments more readily available to farmers. Through a design science research approach, the app was collaboratively conceived, designed, implemented, and evaluated. We provide this reflective design as a case study of how a combination of triple helix collaboration, design science, and agile software development contributes toward the creation of context-oriented artefacts. The app could potentially benefit rural farmers to obtain information regarding the credit access, which is traditionally delivered in face-to-face meetings with bank staff. The findings provided evidence of the benefits and ease of use of the app, including certain affordances and constraints that are perceived by farmers. Moreover, factors such as technology literacy, experience using information and communication technologies (ICT), trust in technology, age of farmers, and mediation suggest that we should consider both material features of technology and social determinants for adoption in case of designing ICTs for rural communities.

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Section: Discussionsupporting

confidence: 91%

Section: Literature Reviewmentioning

confidence: 99%

A financial inclusion app and USSD service for farmers in rural Colombia

Nova

González

2022

Information Development

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“…Research has shown that digital financial services, excluding certain low-penetration variables, contribute significantly to financial inclusion (Fernandes et al, 2020). Moreover, the use of mobile phones globally has provided developing countries with the opportunity to improve financial inclusion through mobile banking, thereby benefiting microentrepreneurs at the bottom of the pyramid (Ruano-Arcos et al, 2020). In the context of financial inclusion, the role of blockchain technology and cryptocurrencies has garnered attention.…”

Section: Key Technologies Driving Financial Inclusionmentioning

confidence: 99%

Financial Inclusion Through Technology: A Review of Trends in Emerging Markets

Titilola Falaiye,

Oluwafunmi Adijat Elufioye,

Kehinde Feranmi Awonuga

et al. 2024

Int. j. manag. entrep. res

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Financial inclusion, the universal access to affordable financial services, has emerged as a critical component for fostering economic development, especially in emerging markets. This study presents a comprehensive review of trends in financial inclusion through technology, focusing on its transformative impact in emerging markets. In recent years, technological advancements have paved the way for innovative financial solutions, breaking down traditional barriers to access and bridging gaps in financial services. Mobile banking, digital wallets, and blockchain technologies have become instrumental tools in extending financial services to previously underserved populations. This review delves into the key trends shaping the landscape of financial inclusion in emerging markets, highlighting the role of technology as an enabler. The rise of mobile banking has been a game-changer, allowing individuals with limited access to traditional banking infrastructure to conduct financial transactions seamlessly. Digital wallets have gained prominence, offering a secure and convenient means for users to store, transfer, and receive money. Blockchain technology, with its decentralized and transparent nature, has facilitated the development of innovative financial products like cryptocurrencies, providing alternative avenues for financial inclusion. However, challenges persist, including concerns related to data security, regulatory frameworks, and the digital literacy of users. The review critically examines these challenges and explores potential solutions to ensure the sustainable growth of financial inclusion initiatives in emerging markets. Moreover, the COVID-19 pandemic has underscored the importance of resilient and accessible financial systems. The review assesses the pandemic's impact on financial inclusion trends, highlighting both the vulnerabilities exposed and the opportunities for further integration of technology in addressing economic shocks. This review contributes to the evolving discourse on financial inclusion through technology in emerging markets. By identifying trends, challenges, and opportunities, it offers valuable insights for policymakers, financial institutions, and technology innovators seeking to drive inclusive economic growth through technological interventions. Keywords: Finance, Technology, Emerging Markets, Financial Inclusion, Review.

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“…Furthermore, they also foster mobile banking usage by agreeing that they would recommend it to other people (M = 4.34). Equally, the study of Ruano-Arcos et al (2020) The respondents' behavior towards comfort using AI mobile banking services is presented in Table 9. The results show that it gathered the lowest composite mean (M = 3.62).…”

Section: Descriptive Statisticsmentioning

confidence: 99%

Enhancing Perceptions and Behavior: Exploring Factors Influencing Mobile Banking Services and Artificial Intelligence Adoption in Lipa City, Batangas

Matthew A. Carandang

2023

IJRP

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The adoption of mobile banking is now low in the country, making it critical to understand consumer perceptions and behaviors toward it. This study utilized a descriptive and causal research design to investigate the respondents' perceptions of technology and non-technology-based determinants of mobile banking. The study also investigated the behavior of the respondents towards mobile banking usage and comfort using Artificial Intelligence (AI) mobile banking services. It also determined if technology and non-technology-based determinants significantly affect mobile banking usage and comfort using AI mobile banking services. Through purposive sampling, 150 mobile banking application users in Lipa City, Batangas, were chosen as the respondents. The data gathered were analyzed using simple percentage, mean and composite mean, and multiple linear regression. The study's results indicated that technology-based determinants positively and significantly affect mobile banking usage and comfort using AI mobile banking services. The study also found that the respondents often and will likely continue using mobile banking mainly due to its relative advantage. However, their high comfort level with mobile banking has yet to extend to AI mobile banking services.

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Adoption of Mobile Banking by Microentrepreneurs at the Bottom of the Pyramid

Cited by 5 publications

References 34 publications

A financial inclusion app and USSD service for farmers in rural Colombia

A financial inclusion app and USSD service for farmers in rural Colombia

Financial Inclusion Through Technology: A Review of Trends in Emerging Markets

Enhancing Perceptions and Behavior: Exploring Factors Influencing Mobile Banking Services and Artificial Intelligence Adoption in Lipa City, Batangas

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