Mobile banking enables customers to access their bank account, check their balance or conduct financial transactions through a mobile device. While the convenience of having access to banking information anytime and anywhere provided by mobile banking is empowering to the consumers on the one side, the possibility of loss, theft or exposure to malware of the stored personal financial information presents obvious risks on the other side. Although technology and applications for mobile services offer low costs, increase computational power and provide ease of use to consumers, mobile banking service market is still in its infancy stage. Hence, it becomes necessary for bankers to study the factors that are suitable and adoptable for banking customers, which will also help them in designing mobile services. This paper reviews the mobile banking literature and the factors antecedent to user’s behavioral intentions through the lenses of various adoption theories. It was found that mobile banking adoption is a complex and multifaceted process, and considering customers’ risks (which includes security, financial, privacy, social, time/convenience and performance risks) along with it is also important than analyzing adoption alone.

Banking industry is witnessing a revolution due to the technological advancements in the area of telecommunications and information technology. In the past few years, banking industry has been experiencing major changes in delivering financial services. Sohail and Shanmugham (2003) concluded that banks, aided by technological developments, have accepted the challenges by adopting a new strategy with the intention of not only building customer satisfaction through offering better products and services but also minimizing operation costs. Today’s banking takes place increasingly online and the importance of traditional branch banking has declined, thus decreasing the cost of both banks and the customers. The growing trend throws up a number of electronic channels used by banks. Some of them are telephone, Internet, mobile phone or interactive television through which banks receive instruction and delivers their products and services to their customers. Among them the most capable electronic channels, while still marginally adopted, is mobile banking. Pousttchi and Schurig (2004) concluded mobile banking to be among the most recent electronic delivery channels to be offered by banks. It is one of the growing branchless banking distribution channels providing increased facilities for customers in performing banking transactions.

Information Technology Journal, Adoption, Risk perception, Mobile banking, Risk Perception, Adoption, Mobile Banking Services.