Interacting with Computers 21 (2009) 385–392

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Interacting with Computers

journal homepage: www.elsevier.com/locate/intcom

Understanding factors affecting trust in and satisfaction with mobile banking

in Korea: A modified DeLone and McLean’s model perspective
Kun Chang Lee a, Namho Chung b,*
a
SKK Business School and Department of Interaction Science, Sungkyunkwan University, Seoul 110-745, Republic of Korea
b
College of Hotel and Tourism Management, Kyung Hee University, Seoul 130-701, Republic of Korea

a r t i c l e i n f o a b s t r a c t

Article history: As mobile technology has developed, mobile banking has become accepted as part of daily life. Although
Received 11 January 2008 many studies have been conducted to assess users’ satisfaction with mobile applications, none has
Received in revised form 11 June 2009 focused on the ways in which the three quality factors associated with mobile banking – system quality,
Accepted 14 June 2009
information quality and interface design quality – affect consumers’ trust and satisfaction. Our proposed
Available online 21 June 2009
research model, based on DeLone and McLean’s model, assesses how these three external quality factors
can impact satisfaction and trust. We collected 276 valid questionnaires from mobile banking customers,
Keywords:
then analyzed them using structural equation modeling. Our results show that system quality and infor-
DeLone and McLean’s IS success model
Mobile banking
mation quality significantly influence customers’ trust and satisfaction, and that interface design quality
Customer satisfaction does not. We present herein implications and suggestions for further research.
Trust Ó 2009 Elsevier B.V. All rights reserved.
Quality

1. Introduction managing these systems (Bank of Korea, 2008). Korea is not the
only country experiencing this phenomenon; countries such as
The Internet revolution, which has spread visibly since the Finland, China, Japan and Taiwan also are dealing with a similar
1990s, fundamentally changed the banking business sector in problem (Suoranta and Mattila, 2004; Mallat et al., 2004; Scorn-
terms of the variety of financial services and how they are pro- avacca and Barnes, 2004; Laforet and Li, 2005; Laukkanen and Lau-
vided. In particular, the Internet has significantly affected internal ronen, 2005; Luarn and Lin, 2004; Riivari, 2005; Laukkanen, 2007;
banking processes. The biggest change is in banks’ service channel, Kim et al., 2008). For example, fewer than 1% of banking transac-
which has changed from branch offices in the past to incorporate tions in Taiwan were conducted via mobile banking in 2003 (Luarn
CDs/ATMs (cash dispensers/automated teller machines), phone and Lin, 2004). Even though mobile banking technology and appli-
banking, PC banking, Internet banking and mobile banking. cations are available, international usage rates have remained fairy
As of late June, 2007, 40.11 million Koreans had singed up for low (Suoranta and Mattila, 2004).
Internet banking services (Bank of Korea, 2008). Internet banking What is the reason behind the belated dissemination of mobile
allows customers to conduct financial transactions on a secure banking, when it benefits both banks and their customers? The
website operated by their retail or virtual bank, credit union or reason can be found in these systems’ limitations (tiny screens
building society. People can perform financial transactions such and keypads and slower transaction speeds than Internet banking)
as an account to account transfer, bill payment, wire transfer, loan compared to Internet banking, and in users’ distrust of wireless
application, new account creation, etc. (http://en.wikipedia.org). transactions’ security, although mobile banking does offer users a
Mobile banking (Internet banking using mobile devices, also financing method that is cheaper, safer and more convenient than
known as M-Banking, mbanking, SMS Banking, etc.) can be used Internet banking wherever and whenever they need it (Luarn and
to perform balance checks, account transactions, payments, etc. Lin, 2004; http://www.wooribank.com).
via a mobile device such as a mobile phone (Rajnish et al., 2007). From the perspective of banks that develop mobile banking, a
Considering that 96.1% of Internet banking in Korea is done on great number of customers should use mobile banking in order
personal computers, mobile banking in Korea can be described as to produce a high return on their investment. Of course, users will
highly unsatisfactory compared to the costs of developing and embrace mobile banking if they consider its actual value in terms
of time, cost and effort. Therefore, the factors that affect acceptance
* Corresponding author. Tel.: +82 2 961 0802; fax: +82 2 964 2537.
of mobile banking are complicated by the relationships among
E-mail addresses: kunchanglee@gmail.com, leekc@skku.edu (K.C. Lee), them. Yet, little research has studied mobile banking. In particular,
namhochung@gmail.com (N. Chung). almost no research has examined how interface design quality,

0953-5438/$ - see front matter Ó 2009 Elsevier B.V. All rights reserved.
doi:10.1016/j.intcom.2009.06.004
386 K.C. Lee, N. Chung / Interacting with Computers 21 (2009) 385–392

which is a special property of mobile banking, affects customers’ study’s model because this study is based on individuals and indi-
trust and satisfaction. vidual mobile phone banking systems.
This study’s aims are threefold. First, it examines mobile bank- DeLone and McLean (1992) insisted that an information sys-
ing from an information system perspective, based on DeLone’s tem’s quality affects the extent of its utilization and its users’ sat-
and McLean’s IS (Information System) success model (1992, sys- isfaction, ultimately influencing the behaviors of individuals and
tem quality and information quality). Second, it investigates issues the organizations to which they belong. As the quality of an infor-
related to interface design quality. Third, it considers the causal mation system, DeLone and McLean (1992) proposed the quality of
relationship between trust in and satisfaction with mobile banking, the information system itself, in addition to the quality of the infor-
in order to find ways to increase customers’ acceptance. mation that is the product the information system provides. Mo-
Exploring mobile banking’s characteristics hopefully will in- bile banking can be considered a type of information system.
crease our understanding of how they influence customers. This System and information quality are very important elements of
kind of study will be able to offer some information system and de- mobile banking (Aladwani and Palvia, 2002; Palmer, 2002).
sign guidelines and strategies for companies involved in mobile Unlike conventional information systems, however, mobile
banking. The rest of the paper is organized as follows: Section 2 banking involves using a very small terminal screen that limits
presents the theoretical background. Section 3 describes the re- the amount of content that can be displayed. Therefore, how infor-
search model and hypotheses. Section 4 presents the research mation is organized and presented is extremely important. Evalu-
methodology, and Section 5 describes the analysis and findings ating mobile banking services’ quality requires analyzing the
of our research. Section 6 shows the discussion and implications, interface design’s adequacy.
and the Section 7 concludes with limitations and suggestions for System quality is based on the productivity model, which eval-
further research. uates the extent of information system resource and investment
utilization. System quality is important in the Internet and mobile
environments. Furthermore, information quality signifies the qual-
2. Theoretical backgrounds ity of information output by the system, rather than the quality of
the system itself. Also, not only what is presented (information
In Korea, mobile banking is defined as banking transactions quality), but also how the information is organized on the limited
using mobile devices such as cellphones, PDAs (Personal Digital interface, is important in a mobile environment.
Assistants), smart phones and other devices (except for laptops). System quality and information quality are important factors in
It can be considered a type of Internet banking because it requires the IS success model, which determines users’ trust in financial
Internet access. transactions. Because mobile banking does not involve face-to-face
This study therefore regards mobile banking as something of an contact, high system quality and information quality are critical to
information system. The study is based on DeLone & McLean’s ensure users’ trust (Kim and Benbasat, 2003). Trust is an important
(1992) IS success model and examines the issues of interface de- concept in marketing, MIS and organizational behavior (Milne and
sign quality and trust. Following is an explanation of why the IS Boza, 1999; Morgan and Hunt, 1994; Smith and Barclay, 1997;
success model was introduced and why trust is an important factor Stewart, 2003; Yoon, 2002). Trust indicates a willingness to believe
in mobile banking. partners in a business contract, belief in business partners’ credibil-
DeLone and McLean (1992) reviewed IS success measures and ity and honesty (Morgan and Hunt, 1994), and favor and credibility
devised a model of the interrelationships between six IS success offered to believe partners (Ganesan, 1994; Kumar, 1996). It is lik-
factors: (1) system quality, (2) information quality, (3) IS use, (4) ened to the continuous relationship between business partners.
user satisfaction, (5) individual impact and (6) organizational im- Trust has two dimensions, credibility and benevolence. Credi-
pact, as in the Fig. 1 (Wang and Liao, 2008). bility is the belief that business partners will fulfill their roles effec-
Based on prior studies, DeLone and McLean (2003) updated tively and reliably, and benevolence is the belief that business
their model of IS success by adding a ‘‘service quality” measure. partners have the intent and motivation to provide benefits in spe-
In general, the IS success model consists of three dimensions – sys- cific new situations (Ganesan, 1994). Trust is as an important factor
tem quality, information quality and service quality, as in the Fig. 2. in mobile banking because it occurs online and involves money (Ba
Whether service quality should be included in the IS success model and Pavlou, 2002; McKnight et al., 2002a,b). Various preceding
is controversial. studies have found that trust plays an important role in the accep-
According to DeLone and McLean (2003, p. 18), ‘‘To measure the tance of technology and the willingness to make purchases online.
success of a single system (individual system), ‘information qual- This study also considers trust a key ingredient for customers’ sat-
ity’ or ‘system quality’ may be the most important quality compo- isfaction with mobile banking (Ba and Pavlou, 2002; Jarvenpaa
nent. For measuring the overall success of the IS department, as et al., 2000; McKnight et al., 2002a,b; Gefen, 2002; Genfen et al.,
opposed to an individual system, ‘service quality’ may become 2003). Thus, we assume that the IS success model combined with
the most important variable.” Therefore, service quality is impor- interface design and trust can be adapted to customer satisfaction
tant for mobile banking; however, it was excluded from this in the mobile banking context.

System
System Use
Use
Quality
Quality

Individual
Individual Organizational
Organizational
Impact
Impact Impact
Impact

Information
Information User
User
Quality
Quality Satisfaction
Satisfaction

Fig. 1. DeLone and McLean’s Model (1992).

 K.C. Lee, N. Chung / Interacting with Computers 21 (2009) 385–392 387

Information
Information
Quality
Quality

Intention
Intention
to
to Use
Use Use
Use

System
System Net
Net
Quality
Quality Benefit
Benefit

User
User
Satisfaction
Satisfaction

Service
Service
Quality
Quality

Fig. 2. DeLone and McLean’s (2003) updated IS success model.

3. Research model and hypotheses with results that might have occurred had they chosen differently
(Kahneman and Miller, 1986).
The IS success model (DeLone and McLean, 1992) explains the Similarly, trust development has been depicted as the process of
impact of IS at the individual and organizational levels. The re- setting expectations of another’s behavior and then evaluating
search model used in this paper (Fig. 3) builds on the individual le- whether or not those expectations have been confirmed (Garbarino
vel constructs of system quality, information quality and interface and Johnson, 1999). Expectations can act as cognitive filtering de-
design quality, and their subsequent impact on trust and customer vices by predisposing one person to interpret another’s behavior as
satisfaction. consistent with original expectations. For example, Holmes (1991)
found that trusting marriage partners blocked out or reinterpreted
(positively) actions by their spouse that did not match their trust-
3.1. Trust and customer satisfaction ing expectations. In this same way, a consumer who trusts an insti-
tution has expectations for satisfaction with regard to that
User satisfaction is a common measure of IS success, for which institution’s website that are likely to be confirmed. If an offline
several standardized instruments have been developed and tested bank is considered trustworthy, that positive satisfaction will pro-
(Zviran and Erlich, 2003; Doll et al., 2004). User satisfaction is a crit- ject toward the bank’s online (or mobile) counterpart. This is why
ical construct because it is related to other important variables, trust in mobile banking should positively affect customers’ satis-
including systems analysis and design. Satisfaction has been used faction. The hypothesis is as follows:
to assess IS success and effectiveness, the success of decision support
systems, office automation success and the utility of IS in decision H1: Trust for mobile banking will positively contribute to cus-
making (Zviran et al., 2006). In web-based systems, in particular, sat- tomer satisfaction.
isfaction can depend on numerous factors, including web design,
content, user interface, navigation and information structure.
From a marketing perspective, satisfaction depends largely on 3.2. System quality
performance; however, product experience alone does not deter-
mine overall satisfaction (Anderson and Sullivan, 1993). Research The concept of system quality, first introduced by DeLone and
has shown that the expected performance level and knowledge McLean (1992), was defined as quality manifested in a system’s
of outcomes that were not experienced are also important. When overall performance and measured by individuals’ perceptions (De-
people evaluate outcomes, they compare their experienced results Lone and McLean, 2003; Liu and Arnett, 2000; Schacklett, 2000).
Vendors are faceless on the mobile banking, so their systems’ quality
becomes the ‘‘online storefront” by which first impressions are
System formed. It stands to reason that if a consumer perceives a vendor’s
System
Quality
Quality system to be of high quality, that consumer will be likely to have high
H2
levels of trust in the vendor’s competence, integrity and benevo-
H3 lence, and will be willing to spend money with that vendor
Trust
Trust (McKnight et al., 2002a,b). Given that this study is based on DeLone’s
H4
& McLean’s model, it attempts to test the following hypotheses:
Information
Information
Quality
Quality H1 H2: System quality of mobile banking will positively contribute
H5
to trust.
H3: System quality of mobile banking will positively contribute
Customer
Customer to customer satisfaction.
H6 Satisfaction
Satisfaction
Interface H7
Interface
Design
Design 3.3. Information quality
Quality
Quality
The quality of information, as assessed by customers, usually
Fig. 3. Research model. influences their satisfaction (Bharati and Chaudhury, 2004; Kim
388 K.C. Lee, N. Chung / Interacting with Computers 21 (2009) 385–392

et al., 2008; Misic and Johnson, 1999). Gallagher (1974) also used environment. The above argument leads to the following
customers’ perception of an information system’s value to deter- hypotheses.
mine information quality. Another study underscored informa-
tion’s perceived importance and utility; but others do not H6: Interface design quality of mobile banking will positively
consider information quality separately, but as an integral part of contribute to trust.
satisfaction. The above argument leads to the following H7: Interface design quality of mobile banking will positively
hypotheses: contribute to customer satisfaction.

H4: Information quality of mobile banking will positively con-

4. Research methodology
tribute to trust.
H5: Information quality of mobile banking will positively con-
The main method of data collection for this study was a survey.
tribute to customer satisfaction.
The data from the survey were tested using partial least square
(PLS) regression (Lee et al., 2003), and the unit of analysis was
3.4. Interface design quality
the individual mobile banking customer with prior mobile banking
experience. Prior experience was necessary because the trust and
Interface design quality is an area of research that examines
satisfaction levels we propose can only be derived from repeat
how information is displayed (Bharati and Chaudhury, 2004). In
purchase.
mobile banking, an interface is often the first point of contact. It
is therefore important that a good image is presented, as users will
form their impressions based on this initial information (Everard 4.1. Measures
and Galletta, 2006). Numerous studies have assessed such factors
as display formats, colors, and graphs versus tables and how these After developing the research framework, we conducted a series
factors affect customer satisfaction (Jarvenpaa and Todd, 1997; of personal interviews with three mobile banking professionals in
Lohse and Spiller, 1998; Everard and Galletta, 2006). Fung and Korea to assess the external validity of our research model. Based
Lee (1999) and Everard and Galletta (2006) argued that good inter- on our review of related literature and the comments gathered
face design quality such as presentation, format, and processing from our interviews, we created a survey instrument using a multi-
efficiency enhance the formation of trust. These studies say that ple-item method. Each item was measured on a seven-point Likert
interface design quality is important in a web system, but that cus- scale, with answers ranging from ‘‘strongly disagree” to ‘‘strongly
tomers are not satisfied, even with good interface designs, if they agree” (see Table 1). The items in the survey were developed by
do not trust the system. Particularly in the case of mobile banking, adapting existing measures validated by other researchers, or by
improperly designed screens and interfaces can cause customers converting the definitions of the construct into a questionnaire
unnecessary work and can negatively influence their utilization format.

Table 1
Constructs and related literature.

Latent variables Construct Measurement Related literature

System quality SYSQUAL1 I would find mobile banking secure enough to conduct my Bharati and Chaudhury (2004), Delone and McLean (1992,
banking transactions 2003), Liu and Arnett (2000) and Schacklett (2000)
SYSQUAL2 Mobile banking provides convenient access
SYSQUAL3 Mobile banking is easy to use
SYSQUAL4 I could use mobile banking at anytime, anywhere I want
Information quality INFOQUAL1 Mobile banking will provide accurate information Kim et al. (2008), Bharati and Chaudhury (2004), Fung and
INFOQUAL2 Mobile banking will provide complete information Lee (1999) and Misic and Johnson (1999)
INFOQUAL3 Mobile banking will provide relevant information about
transactions
INFOQUAL4 Mobile banking will provide precise information
INFOQUAL5 Mobile banking will provide timely information about
transactions
Interface design quality IDSQUAL1 Visual graphics of mobile banking are user friendly Bharati and Chaudhury (2004) and Fung and Lee (1999)
IDSQUAL 2 The screen colors used for mobile banking are appropriate
IDSQUAL 3 The presentation style of mobile banking is easy to
understand
IDSQUAL 4 Mobile banking is easy to navigate
Trust TRUST1 Mobile banking keeps its promises Stewart (2003) and Pennington et al. (2003)
TRUST2 Mobile banking services meet my needs
TRUST3 Mobile banking is trustworthy
TRUST4 I think mobile banking is concerned with the present and
future interests of users
TRUST5 Overall, I trust mobile banking
Customer satisfaction SATIS1 I strongly recommend mobile banking to others Anderson and Sullivan (1993) and Kohli et al. (2004)
SATIS2 I think that I made the correct decision to use mobile banking
SATIS3 I am satisfied with the way that mobile banking has carried
out transactions
SATIS4 I am satisfied with the service I have received from mobile
banking
SATIS5 Overall, I was satisfied with mobile banking
 K.C. Lee, N. Chung / Interacting with Computers 21 (2009) 385–392 389

We refined the initial version of the survey through extensive Table 2

pre-testing by 10 academics with significant expertise in studying Demographic characteristics of sample.

mobile banking. The survey was further tested on 15 students en- Characteristics Frequency %
rolled in an MIS course at a Korean university. Gender
Female 125 45.3
Male 151 54.7
4.2. Data collection procedure
Age
21–30 169 61.2
Data were collected using a self-administered Korean version of
31–40 87 31.5
the questionnaire. To avoid cross-cultural methodology issues, 41–50 20 7.3
backward translation (with the material translated from English
Education
into Korean and then back into English, versions compared, and High school 27 9.8
discrepancies resolved) was used to ensure consistency between College 102 37.0
the Korean and original English versions of the survey (Mullen, Undergraduate 129 46.7
Graduate 18 6.5
1995; Singh, 1995).
The Shinhan Bank of Korea assisted with this survey by make an Mobile banking usage frequency
Everyday 10 3.6
online survey of the bank’s web site. Also, the sample of this
1–2 time a week 63 22.8
study’s targets was set to be customers who use mobile banking 3–4 times a month 103 37.4
among the users of Internet banking service of the local banks. It Occasionally use 100 36.2
should be noted that in Korea, there are various types of mobile Total 276 100.0
banking, such as VM (virtual machine) or WAP (wireless applica-
tion protocol). Therefore, in order to analyze mobile banking users
and their characteristics more precisely, this study limited the sur- widely used in theory testing or confirmation. It is also an appro-
vey respondents to be those who had IC chips (Smart card) for mo- priate approach for examining whether relationships might or
bile banking installed on their mobile phones. Fig. 4 shows mobile might not exist, and thus for suggesting propositions for later test-
banking transactions in snapshots. ing (Fornell and Lacker, 1981). We used PLS-Graph version 3.0 to
The survey was conducted for 15 days in 2007, notice of the on- analyze the measurement and structural models.
line questionnaire in web sites of Shinhan banks. Gifts worth $15
were given as incentives for volunteers to fully answer the survey
5.2. Measurement model
questions. Incomplete answers were designed to be removed from
the system. Table 2 shows the respondents’ demographic informa-
To validate our measurement model, we undertook validity
tion in terms of gender, age, and average number of mobile bank-
assessments of content, discriminant, and convergent validity.
ing experiences. There was no significant difference for gender,
Content validity of our survey was established from the existing
age, and mobile banking experiences.
literature, and our measures were constructed by adopting con-
structs validated by other researchers, as a result of the pre-tests
5. Analysis and findings we conducted with experts in the field of mobile commerce, and
from the pilot test data gathered in Korea.
5.1. Analysis method Discriminant validity of our instrument was assessed by exam-
ining the correlations among questions (Fornell and Lacker, 1981).
Because of the limitations of such exploratory approaches as The rule of thumb in discriminant validity is that a measure should
regression analysis, we adopted a confirmatory approach using correlate with all measures of the same construct more highly than
partial least squares (PLS) as our analysis method. PLS has been it does with any measures of other constructs (Chin, 1988).

Fig. 4. Snapshot of mobile banking service menu (loan/payment).

390 K.C. Lee, N. Chung / Interacting with Computers 21 (2009) 385–392

Finally, convergent validity was assessed by examining the of variance in trust. System quality, information quality, interface
composite reliability of measures and the variance extracted by design quality, and trust also account for 56.5% of variance in cus-
measures. Although many studies employing PLS use 0.5 as an tomer satisfaction with mobile banking services. These results pro-
indication of reliability of measures, a score of 0.7 is the recom- vide strong support for the posited relationships between system
mended value for reliability (Chin, 1988). As shown in Table 3, quality, information quality, interface design quality, trust, and
our composite reliability values ranged from 0.874 to 0.909 – customer satisfaction with mobile banking.
above acceptable levels. For variance extracted by measures, a The above results in Table 5 can be summarized as follows:
score of 0.5 indicates acceptability (Fornell and Lacker, 1981). Hypothesis H1 examines the link between trust and customer sat-
Table 3 shows that our variance extracted by measures ranged isfaction. Trust is significantly related to customer satisfaction
from 0.595 to 0.693, exceeding the recommended values. (b = 0.389; P < 0.01). Therefore, hypothesis H1 is supported.
Apart from the validity assessment of the measurement model, In terms of the PLS analysis predicting trust, three paths (sys-
we performed a check for multicollinearity among the indepen- tem quality, information quality, and design quality) are signifi-
dent variables. Table 4 displays the correlations among the deter- cant. The effect of system quality is significant, as indicated by
minants of customer satisfaction. The highest correlation, 0.669, the path coefficient of 0.290 (P < 0.01). The path coefficient
existed between information quality and system quality. The (b = 0.364) from information quality is also statistically significant
remaining correlations ranged from 0.417 to 0.669. These correla- (P < 0.01), as is the path coefficient (b = 0.107) from design quality
tions indicate that multicollinearity was not a serious problem in (P < 0.05). Together, these three paths account for approximately
the proposed model. 38.6% of observed variance for the intention to use. Therefore,
hypotheses H2, H4, H6 are not rejected.
5.3. Structural model Two paths (system quality and information quality) are signifi-
cant predictors of customer satisfaction, but interface design quality
A bootstrapping procedure was used to generate t-statistics and has no effect on satisfaction. The effect of system quality is signifi-
standard errors (Chin, 1988). Interpreted in the same way as multi- cant, as indicated by the path coefficient of 0.191 (P < 0.01). The path
ple regression, the R2 indicates the amount of variance explained coefficient (b = 0.216) from information quality is also statistically
by the model. The path loadings and R2 resulting from the PLS significant (P < 0.01). Together, these two paths account for approx-
model are illustrated. In terms of goodness of fit indicators, system imately 56.5% of observed variance for intention to use. Therefore,
quality, information quality, and design quality account for 40.9% hypotheses H3, H5 are not rejected, but H7 is rejected.

Table 3
The result of confirmatory factor analysis.

Measure Item Factor loading t-Value Cronbach ’a Composite reliability Average variance extracted
System quality SYSQUAL1 0.839 41.208 0.853 0.900 0.693
SYSQUAL2 0.826 31.275
SYSQUAL3 0.837 38.764
SYSQUAL4 0.827 39.683
Information Quality INFOQUAL1 0.816 39.101 0.865 0.903 0.650
INFOQUAL2 0.794 27.926
INFOQUAL3 0.793 29.855
INFOQUAL4 0.840 43.554
INFOQUAL5 0.788 26.479
Interface design quality IDSQUAL1 0.838 32.955 0.806 0.874 0.637
IDSQUAL 2 0.842 40.596
IDSQUAL 3 0.845 37.859
IDSQUAL 4 0.649 12.061
Trust TRUST1 0.769 25.208 0.828 0.880 0.595
TRUST2 0.807 33.858
TRUST3 0.789 32.469
TRUST4 0.666 14.554
TRUST5 0.818 36.911
Customer satisfaction SATIS1 0.821 37.527 0.874 0.909 0.666
SATIS2 0.767 23.976
SATIS3 0.826 31.151
SATIS4 0.848 38.866
SATIS5 0.815 24.505

Table 4
Correlation matrix.

Construct System quality Information quality Interface design quality Trust Customer satisfaction
System quality 1
Information quality 0.654** 1
Interface design quality 0.512** 0.532** 1
Trust 0.556** 0.589** 0.417** 1
Customer satisfaction 0.603** 0.625** 0.481** 0.669** 1
**
p < 0.01.
 K.C. Lee, N. Chung / Interacting with Computers 21 (2009) 385–392 391

Table 5 7. Concluding remarks

Results of hypothesis testing.

Hypotheses Path Coefficient t-Value Results This study assessed a survey of how consumer trust affects sat-
H1 Trust ? customer satisfaction 0.389 6.174 Accepted isfaction with mobile banking. It further considered mobile bank-
H2 System quality ? trust 0.290 3.933 Accepted ing service quality as an external factor for customer acceptance,
H3 System quality ? customer 0.191 3.005 Accepted including trust. Customer mobile banking activity was used for a
satisfaction
practical analysis of the ways in which trust and information sys-
H4 Information quality ? trust 0.364 4.399 Accepted
H5 Information quality ? customer 0.216 3.195 Accepted tem quality affect mobile banking satisfaction. Data were collected
satisfaction from 276 mobile banking users to perform an empirical analysis,
H6 Interface design quality ? trust 0.107 1.986 Accepted which identified trust and all three quality factors as significant
H7 Interface design 0.070 1.094 Rejected variables. Trust and two quality factors (not design quality) were
quality ? customer satisfaction
variables that were significant in customer satisfaction.
The following is a summary of the results of this study. First,
trust was found to be the variable that most impacts customer sat-
6. Discussion and implications isfaction. This tells us that trust is still the most important factor in
banking, both on and offline. Second, it was found that system
One of the important issues in this study is the role trust plays quality and information quality affected trust more than user sat-
in assessing the degree of satisfaction of mobile banking users. As isfaction. This means that these factors are more important in
in Internet banking, mobile banking involves processing banking building trust. Third, interface design quality was found to be an
tasks without having face-to-face contact with bank staff. Such ac- important factor in building trust, although it was not as important
tions inevitably involve risk and uncertainty, and eliminating these as other factors.
things requires more effort in mobile banking than in Internet This study has some limitations. First, since mobile banking is a
banking. Consequently, the quality of mobile banking and custom- relatively new application, users can experience varying degrees of
ers’ trust levels affect the degree of satisfaction with mobile bank- quality and trust. Specifically, the degree of satisfaction could be
ing. This study shows that trust significantly affects the degree of tied to how familiar users are with mobile banking. Further analy-
satisfaction, which corresponds with the results of other studies sis is necessary, including using respondents’ degree of familiarity
about the relationship between trust and Internet banking or on- with mobile banking as a moderate variable. Also, the variables
line shopping malls. These results suggest that trust is an impor- chosen for this study do not reflect the inherent characteristics of
tant variable in customer satisfaction for the mobile banking the mobile environment. Other factors can affect user satisfaction
environment. in mobile banking, in addition to those mentioned in this study.
Another point of interest in this study is how the quality of mo- Secondly, since the research is limited to Korean context, the re-
bile banking service affects trust and customer satisfaction. As sult needs to be interpreted carefully, especially in terms of gener-
mentioned earlier, this study found that three quality factors have alizing the finding. Issues related to expansion of mobile banking
significant effects on trust. Factors that enable customers to trust show similar pattern throughout the world, and yet the solutions
mobile banking are therefore said to include stability and accuracy will be different from country to country depending on the condi-
of the corresponding mobile banking system, provision of accurate tion of mobile infrastructure and cultural background. Thus, it is
information for conducting banking transactions, and adequate necessary to interpret implication of the research according to cir-
presentation of information. cumstance of the country.
While system quality and information quality were classified as Thirdly, compared to research of elaborate experimental design,
significant variables for customer satisfaction, design quality was this research was based on survey, and has more uncontrolled vari-
not. This suggests that system quality and information quality ables. There could be a bias in the result. However, I regard it inev-
must be provided to satisfy mobile banking customers, but that de- itable since a survey for mobile banking users is very difficult to
sign quality is not as important. It is possible that since mobile conduct.
banking is a very utilitarian transaction, design quality has a rela-
tively minor impact compared to system or information quality;
Acknowledgment
still design quality indirectly affects customer satisfaction through
trust. It is not an element that can be dismissed.
Kun Chang Lee’s work was supported by the MEST (Ministry of
Based on our findings, it is in the best interest of mobile banking
Education, Science and Technology), Korea, under the WCU (World
service providers to gain the trust of their customers. Providing
Class University) Program supervised by the KOSEF (Korea Science
reliable and appropriate information are more effective ways of
and Engineering Foundation) (No. R31-2008-000-10062-0).
doing this than having a good-looking design interface. In the early
days Internet banking, interface technology and design were
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