Perils and Perks Pertinent to Progressive Mobile Banking in reference to Quality Management aspect: Lean and Agile Approach

Purpose: The main purpose of this paper aims at identifying the major perks and perils in context to mobile banking applications both on part of the customers as well as banks and how with help of lean and agile principles the perils could be minimized and how the maximization of perks would be possible. Design/Methodology/Approach: Lean and Agile approaches along with total quality management were applied for eliminating the perils and strengthening the perks of mobile banking applications. The study sample consists of 3200 respondents. Findings: The findings of the study suggests that convenience and competitive advantage are the two major perks that attract customers towards the use of mobile banking applications whereas security and cost arc the two major perils pertinent to progressive mobile banking which hinder the use of mobile banking applications among customers. Research limitations: The study takes into consideration only two major perks and two major perils of mobile banking which limits the horizon of the study and paves way for future research on this topic. Practical implications: On amalgamation of banking with their handsets or mobile phones, customers arc engrossing themselves in apps like never before. This brings in the need for ensuring that customers are completely satisfied with the services offered to them and are ready to accept the technological changes without any hesitation and fear. Originality/value: The study discovers the application of lean and agile principles in the working of mobile banking applications for improving the quality of the services rendered thus leading to satisfaction among both the customers as well as the banking institutions.