Millennials Behavioral Intention in Using Mobile Banking: Integrating Perceived Risk and Trust into TAM (A Survey in Jawa Barat)

Abstract

To analyze the major factors influencing user acceptance in using mobile banking, this current study integrates the Technology Acceptance Model (TAM) model with risk (privacy, financial, security, and time risk), trust, and attitude constructs. This research employed a quantitative approach through an online survey and distributed it through Line, Twitter, WhatsApp, and Instagram. The questionnaire consisted of 46 questions and 400 valid responses received. Structural Equation Modeling (SEM) was applied to examine the prescient behavior of the proposed components of the research model. All constructs passed the validity and reliability test. Results reveal that risk influences usefulness and ease of use impacts on usefulness. Furthermore, usefulness influences attitude, and usefulness and attitude influence the intention to use mobile banking. Surprisingly, it is found that trust did not influence attitude, and trust and ease of use did not impact on the usage intention mobile banking. Mobile banking related issues are yet to be examined empirically in millennials users, especially in West Java. This research was developed by extending the TAM model with perceived risk with 4 sub-dimensions and trust to reveal the need of acquring mobile banking.

Behavioral Intention to Use FinTech in Millennial Generation (Extension of TAM Model)

“…Therefore, even with lower trust, if they need to use a specific FinTech for payment, millennials will still like using it because they also enjoy utilizing technology. Although the research of Kumar and Yukita (2021) supports these results, they do not align with the findings of several prior studies (Shahzad et al, 2022;Armanditya & Rahmiati, 2020).…”

“…These findings suggest that people's perceptions of the benefits of using FinTech are inversely correlated with their perceptions of the risk and loss associated with utilizing it for the payment process. The research results of S. Kumar & Yukita (2021), Armanditya & Rahmiati (2020), Aji et al (2020), andCabrera-Sánchez et al (2020) support these results.…”

“…The risks that users believe come with using technology are known as perceived risks. the higher the perceived risk of using technology can reduce the perceived usefulness (S. Kumar & Yukita, 2021;S. Kumar & Yukita, 2021).…”

Efek Perilaku dan Persepsi Milenial terhadap Minat Menggunakan Mobile Banking Perbankan Syariah di Indonesia

“…Dimana semakin tinggi persepsinya terhadap kualitas produk dan layanan perbankan syariah, maka semakin tinggi pula minatnya untuk menggunakan mobile banking perbankan syariah tersebut. Hal ini sejalan dengan penelitian terdahulu yang membuktikan adanya pengaruh signifikan antara persepsi seseorang akan layanan, produk, maupun kinerja suatu perbankan (baik bank umum maupun syariah), terhadap minat untuk menggunakan mobile bankingnya, baik di Indonesia maupun di negara lain seperti Malaysia, Pakistan, dan Afrika Selatan yang karakter masyarakat (khususnya milenial) maupun kondisi ekonominya tidak berbeda jauh dengan Indonesia (Kholid, 2019;Kumar & Yukita, 2021;Tan & Leby Lau, 2016;Thusi & Maduku, 2020;Yussaivia et al, 2021).…”

“…Seperti yang telah dijelaskan sebelumnya berdasarkan berbagai penelitian terdahulu, minat konsumen pada dasarnya dipengaruhi oleh berbagai faktor eksternal dan faktor internal seperti perilaku keseharian, termasuk perilaku yang berkaitan dengan keuangannya, serta persepsinya akan suatu produk atau layanan tertentu. Karenanya, penelitian ini akan menganlisis apakah perilaku keuangan milenial dapat mempengaruhi minatnya untuk menggunakan mobile banking perbankan syariah baik secara langsung maupun tidak langsung yang dimediasi oleh persepsi milenial terhadap produk dan layanan perbankan syariah sebagai variabel intervening (Hasanuddin Ali et al, 2020;Hasanuddin Ali & Purwandi, 2016;Huang et al, 2022;Kholid, 2019;Kotler & Keller, 2016;Kumar & Yukita, 2021;Mahyarni, 2013;Pong et al, 2023;Schiffman & Kanuk, 2007;Shah et al, 2016;Sulistyowati et al, 2020;Tan & Leby Lau, 2016;Thusi & Maduku, 2020;Yussaivi et al, 2021).…”