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 utilising 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.
