Abstract
Purpose – This longitudinal study explores how socio-demographic factors, including ethnicity and Living Standards Measures (LSM), alongside trust in banks, influence mobile banking adoption in South Africa.
Design/methodology/approach – Using ten years of FinScope survey data, logistic regression analyses were conducted to assess the impact of socio-demographics and trust on mobile banking use.
Findings – Trust in banks positively influenced adoption, though its economic impact was modest. Individuals aged 30–39, higher-income earners, and those with advanced education were most likely to adopt mobile banking, with income increasing adoption probability by 9.44%. Black individuals showed higher adoption rates compared to other ethnic groups.
Originality – This study uniquely integrates socio-demographic factors with trust in banks, offering fresh insights into financial inclusion and the distinct roles of ethnicity and living standards in mobile banking adoption.
Practical implications – Findings enable banks and fintechs to tailor strategies for targeted consumer segments, while providing evidence for policymakers to address socio-demographic barriers to enhance financial inclusion.
Keywords banking, bank trust, consumer behaviour, ethnicity, financial inclusion, financial services, mobile banking, socio-demographic characteristics
Design/methodology/approach – Using ten years of FinScope survey data, logistic regression analyses were conducted to assess the impact of socio-demographics and trust on mobile banking use.
Findings – Trust in banks positively influenced adoption, though its economic impact was modest. Individuals aged 30–39, higher-income earners, and those with advanced education were most likely to adopt mobile banking, with income increasing adoption probability by 9.44%. Black individuals showed higher adoption rates compared to other ethnic groups.
Originality – This study uniquely integrates socio-demographic factors with trust in banks, offering fresh insights into financial inclusion and the distinct roles of ethnicity and living standards in mobile banking adoption.
Practical implications – Findings enable banks and fintechs to tailor strategies for targeted consumer segments, while providing evidence for policymakers to address socio-demographic barriers to enhance financial inclusion.
Keywords banking, bank trust, consumer behaviour, ethnicity, financial inclusion, financial services, mobile banking, socio-demographic characteristics
| Original language | English |
|---|---|
| Journal | International Journal of Bank Marketing |
| Publication status | Accepted/In press - 17 Apr 2025 |