Customer Preferences for Mobile Banking Apps: A Comparative Study of Public, Private, and Small Finance Banks

Sunita Sharma

Customer Preferences for Mobile Banking Apps: A Comparative Study of Public, Private, and Small Finance Banks

Author(s)	Sunita Sharma
Country	India
Abstract	India's mobile banking market is served by three distinct ownership groups public sector banks (PSBs), private sector banks and Small Finance Banks (SFBs) whose customer bases, legacies and technology strategies differ markedly. While a large literature examines the adoption of and satisfaction with mobile banking in general, comparatively little is known about how customer preferences for mobile banking app attributes differ across these bank groups, and whether banks are delivering the attributes their own customers value most. This paper undertakes a comparative empirical analysis of customer preferences for mobile banking applications across public, private and small finance banks in India. Secondary data on the digital footprint of the three bank groups are drawn from Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) sources for 2019–20 to 2024–25, and primary evidence is presented through an illustrative structured survey of 450 mobile banking users (150 from each bank group), analysed using Garrett ranking of preference attributes, weighted mean scores, one-way ANOVA, chi-square tests and correlation analysis. The analysis reveals a stable core of preferences shared by all customers transaction reliability, security assurance and ease of use rank at the top for every group surrounded by significant group-wise differences: PSB customers place relatively higher weight on trust in the institution, branch-linked support and vernacular access; private bank customers prioritise speed, feature richness, integration with payments and investment ecosystems, and interface quality; and SFB customers value doorstep-linked service continuity, higher deposit rates visibility, simplicity and assisted usage. Perceived delivery lags preference most severely on grievance redress for PSBs, on human support for private banks, and on app stability for SFBs. Attribute importance differs significantly across groups for eight of twelve attributes (ANOVA, p < 0.05), and switching intent is highest where the preference–delivery gap is widest. The paper concludes that a one-size-fits-all app strategy misallocates technology investment, and offers group-specific recommendations for aligning app roadmaps with the revealed preferences of each customer base.
Keywords	Mobile Banking, Customer Preference, Public Sector Banks, Private Banks, Small Finance Banks, Garrett Ranking, ANOVA, Comparative Study, App Attributes, Switching Behaviour.
Published In	Volume 7, Issue 3, March 2026
Published On	2026-03-06

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Customer Preferences for Mobile Banking Apps: A Comparative Study of Public, Private, and Small Finance Banks

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