This study examines customer experience and user perceptions of SBI YONO and HDFC Mobile Banking applications by integrating the Technology Acceptance Model (TAM) and SERVQUAL framework. Using a comparative quantitative approach, 2,000 user reviews (1,000 reviews per application) collected from the Google Play Store between 1 January 2023 and 31 December 2025 were analysed using frequency analysis, chi-square tests, and ordinal logistic regression. The findings revealed that Attitude Toward Use (ATU) was the most frequently occurring construct, while Reliability (REL) emerged as the most prominent service quality dimension. HDFC Mobile Banking performed significantly better than SBI YONO in terms of Attitude Toward Use and Perceived Ease of Use. However, no significant difference was found between the two applications regarding Reliability. The regression results indicated that Attitude Toward Use and Reliability significantly influenced user ratings, whereas Perceived Ease of Use and application type did not. The study concludes that customer evaluations of mobile banking applications are primarily driven by users’ overall experiences and perceptions of reliability. The findings provide practical insights for banks seeking to enhance user experience and improve service quality in mobile banking applications.