Abstract:
Recent developments in the banking sector have greatly improved bank customers' access to and use of banking services. However, such development in the industry is subjected to various risks, causing mistrust of the banking infrastructures among its users. Using the Extended Parallel Process Model (EPPM) and Trust Theory, this paper aims to examine cyber security dynamics that affect commercial customers' decisions to use mobile banking services in Tanzania. By adopting a cross-sectional research design and Partial least squares structural equation modelling (PLS-SEM), this study found that customers' self-assessment, customers' decision to take risks and customers' confidence in Automated Teller Machines (ATM) applications have a positive and significant effect on mobile banking services usage. Moreover, the findings indicate that access to passwords has a negative significant relationship with mobile banking services usage. The influence of customers' trust in mobile phone applications was conformed insignificant towards mobile banking services usage. Based on these findings, a positive evaluation of the potential cyber risks and security measures enhances customers' trust and confidence when adopting and utilizing mobile banking services. Thus, customers should be aware and carefully consider possible risks associated with mobile banking and adopt a sensible approach to cybersecurity while taking proactive measures to help protect their financial information.
