The Impact of Mobile Banking Services on the Financial Behaviour of GEN Z Consumers of Kerala

Abstract

This study, "The Impact of Mobile Banking Services on the Financial Behaviour of Gen Z Consumers in Kerala," investigates how mobile banking affects the financial behaviors of Gen Z consumers. Using a quantitative approach, the research surveyed 109 participants aged 12-27 to analyze the influence of mobile banking features on saving and spending habits. The study aimed to assess the impact of mobile banking accessibility, features, and financial literacy on financial behavior. Findings revealed that mobile banking accessibility alone did not significantly influence financial behavior. However, specific features like Spending Alerts and Budgeting Tools were positively correlated with improved financial management. Contrary to expectations, financial literacy through mobile banking did not significantly affect financial behavior. The results suggest that while mobile banking features are crucial in shaping financial behavior, accessibility and financial literacy measures require better integration and engagement. These insights provide actionable recommendations for financial institutions to enhance mobile banking services, focusing on effective features to improve financial behavior among Gen Z consumers in Kerala.