Big Data Analysis on Demographic Characteristics of Chinese Mobile Banking Users

Mobile banking as a kind of new combinative product of electronic currency with the advantage of handling a variety of financial businesses whenever and wherever, is rapidly becoming an alternative, efficient and relatively safe way to conduct banking services, compared to traditional banking. A lot of research has been conducted in this field. However, it can be seen that most researches are focusing on the influence factors of mobile banking adoption. Specific researches on the relationship among demographic characteristics and the mobile banking functions and marketing strategies are quite few. This article aims to offer a comprehensive analysis of the influence of demographic characteristic factors on the use of mobile banking functions via the use of questionnaires and big data analytics. Several cross analyses and decision trees are used in the process in order to provide banks with implications to find potential target clients groups according to the demographic characteristics, which can help them to improve certain products and services. Since the investigation includes both users and nonusers of mobile banking, Chinese domestic banks can plan, to not only find potential new customers, but also retain existing clients based on the results of the analysis.