From the below mentioned research paragraph, extract the following information:

1. Identify the research gap.
2. Identify the research objective of the study.
3. On the basis of the research objective suggest research question of the study.
4. Identify the theory used in the study.
5. Suggest title for this research paragraph.

Traditionally, banks have adopted the brick-and-mortar approach in order to expand geographically and capture a larger market share (Tan & Teo, 2000). Nevertheless, ever since the 1990s, the banking sector has started to shift from its traditional financial delivery mediums toward autonomous, self-service delivery channels (Pikkarainen et al., 2004). This movement has been fueled by the advent of the internet, which allowed banks to opt for the latter revolutionary approach, thereby enabling greater market access and reach (Tan & Teo, 2000). Indeed, and due to its highly competitive nature, the banking industry has remained a leader when it comes to the adoption of new technologies such as the internet (Luo et al., 2010). These contemporary technological innovations have significantly benefitted the commercial sector, allowing banks to provide better services to customers (Afshan & Sharif, 2016). For example, modern telecommunication and networking technologies led to the development of automated teller machines (ATMs), which have facilitated and simplified consumer banking transactions (Adesuyi et al., 2013).

ATMs marked the beginning of the banking self-services era that was later followed by the advent of mobile banking (m-banking): a new stage that offered even greater convenience to end-users (Afshan & Sharif, 2016). M-banking is a new form of electronic banking technology that enables a consumer to directly interact with his/her bank and access financial services through a mobile device, such as a smartphone (Chawla & Joshi, 2017). The first m-banking services enabled consumers to complete bill payments and inquire about their account balance via SMS (Laukkanen & Lauronen, 2005). Today, m-banking allows customers to access a wide variety of banking services, such as account transfers, money deposits and virtual payment completion (Gu et al., 2009).

M-banking is a specific form of internet banking; both offer to consumers’ similar characteristics and facilities, yet m-banking presents the added convenience of immediate access at any given location (Singh, 2014). M-banking applications facilitate the ability to complete many services in the absence of an internet connection while internet banking services require such a connection to function (Laukkanen, 2007; Khan & Khan, 2012). Thakur (2014) indicated that m-banking provides more convenience to customers than other forms of self-service banking options since it presents no restrictions on time and place (Gu et al., 2009). As a result, m-banking has not only improved clients’ relationships with their banks, but has also increased the efficiency of individual banking services as a whole (Lin, 2011; Malaquias & Hwang, 2016). Moreover, m-banking enables the extension of financial and non-financial banking services to customers in all areas, including those with minimal access to physical banks (Shaikh & Karjaluoto, 2015).

Nonetheless, m-banking today is still at its initial stages of adoption and the concept requires more research, especially within developing countries that have been slow to accept such advances (Laukkanen, 2007). This study aims to study m-banking adoption in Pakistan, where the service was introduced as recently as 2009 (Mustafa & Waheed, 2016). Interestingly, Pakistan holds approximately 139m unique mobile subscribers, accounting for more than 54 percent of the nation’s population (State Bank of Pakistan, 2016); this number is expected to rise by an 17m new subscribers by the year 2020 (Groupe Speciale Mobile Association, 2017b). As a result, Pakistan ranks eighth globally with respect to the number of mobile users (Afshan & Sharif, 2016); however, the number of registered m-banking users within the nation is only 1.6m (Shaikh & Karjaluoto, 2015). These usage figures indicate noticeable consumer reluctance toward m-banking adoption in Pakistan. Therefore, this study aims to investigate the factors behind consumer m-banking adoption intention (BI) and offer recommendations to help boost the rate of m-banking in the country. The extant literature highlights the need to conduct studies on m-banking adoption across different cultures and specifically within developing nations that include a large number of rural areas (Oliveira et al., 2014; Baptista & Oliveira, 2015; Tam and Oliveira, 2017), such as Pakistan, which can benefit significantly from this type of banking. To date, and to the best of the researchers’ knowledge, no studies have utilized the unified theory of acceptance and use of technology (UTAUT) theory to assess m-BI in Pakistan.

In addition, the vast majority of extant literature discusses the external factors influencing m-banking with little analysis of the behavioral reasons impacting consumer m-BI (Wessels & Drennan, 2010; Goswami, 2017). Indeed, Yu (2012) highlighted the need for studies that further examine the behavioral factors impacting consumer’s’ m-banking adoption. Furthermore, research on m-banking is fragmented and based on different theoretical frameworks (Shaikh & Karjaluoto, 2015). Many theories and models have been devised to understand individual behavioral intention with regard to technology usage, including the technology acceptance model (TAM) (Davis et al., 1989), TAM2 (Venkatesh, 2000), TAM3 (Venkatesh & Bala, 2008), UTAUT and UTAUT2 (Venkatesh et al., 2003, 2012). However, few studies have analyzed m-banking adoption based on these theories (Yu, 2012; Tam & Oliveira, 2016; Tan & Lau, 2016). Notably, the vast majority of studies related to m-banking adoption have utilized the TAM theory, thereby signifying the importance of utilizing other theories in order to cover any possible knowledge gaps (Tam & Oliveira, 2017); likewise, researchers have suggested that future research must employ the updated UTAUT2 to further comprehend consumer intentions with regard to m-banking (Oliveira et al., 2014; Thakur, 2014). Moreover, most studies using the UTAUT and UTAUT2 employ these models in relation to moderating factors such as age, gender and experience (Yu, 2012; Baptista & Oliveira, 2015), with few studies attempting to expand the theory itself to further enhance its accuracy. In addition, m-banking research highlights the fact that most studies and theories solely assess m-banking relative to adoption intention; in turn, Koksal (2016) emphasized the importance of conducting future studies that additionally measure the causality between m-BI and actual behavior itself. Therefore, this study will adapt the UTAUT2 theory and examine the impact of each of its constructs on a consumer’s intention to adopt m-banking facilities within the Pakistani context and the impact of intention on actual behavior itself. This study will help banking managers understand consumers’ perceptions and intentions with regard to m-banking, thereby ultimately enabling banks to access a greater customer base and increase their overall revenues.

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