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Factors Impacting Adoption Of Mobile Technology In Asset Financing Industry - A Case Study

Authors: Sangram Kesari Samal, Dr. Deepika Pandita

Journal: International Journal of Modern Agriculture

Publication date: 2020

Publisher: International Journal of Modern Agriculture

URL: click here


Abstract:

Customer Acquisition System (CAS) is the key driver for smooth onboarding of customers in retail finance companies. A simplified acquisition system in a Mobile platform brings speed and scalability to operation. However, companies often face challenges of technological adoption and seamless transition to new platform.
Through a real-life case study, this paper investigates the factors that impacts adoption of Mobile Technology especially by the employees in a customer facing role in an asset finance company of India. In this study, the role of training vis-à-vis other factors in quick adoption of technology is explored and explained. The study spans over a time from launching a mobile technology for loan processing to its successful implementation. Pilot projects were rolled out in different locations. Post adoption behaviors were studied for each of the pilot group to ascertain what is working and what is not. Also, line managers of specific groups were interviewed to find out the reasons of low adoption at specific locations.
The study revealed that there are multiple factors with different degree of proportion that impact technology adoption. Even though training played a significant role in dissemination of knowledge among employees, usage of new platform depended upon other factors such as: (a) ease and convenience of using new platform (b) involvement of line manager in driving the change (c) IT support system in resolving technical issues in the new platform (d) motivation of employees through introduction of incentive for early adoption.
The study was limited to an India based Asset Finance company with 5000+ employees spread across the country. However, the findings from this study were implemented in subsequent roll out of changes in technology and had its pie of success.