Modeling Millennials’ Adoption Intentions of E-banking: Extending UTAUT with Perceived Risk and Trust

Mer, Akansha; Virdi, Amarpreet Singh

doi:10.1177/23197145211052614

Cited by 11 publications

(3 citation statements)

References 63 publications

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“…The perceived risk theory highlights multiple customer risks, potentially affecting users' BI adoption and products and service usage. Perceived risk has widely been studied along with UTAUT in the following research e-Healthcare (Ben Arfi et al, 2021), Internet banking adoption (Martins et al, 2014), cashless payment system (Namahoot and Jantasri, 2022), E-banking (Mer and Virdi, 2021), restaurant industry (Jeon et al, 2020), Mobile Payment (Al-Saedi and Al-Emran, 2021), and M-Banking (Abu-Taieh et al, 2022), but none in the context of neo banking in India as per our detail literature search. Studies have identified model predictive power to increase when constructs like perceived risk and UTUAT are studied together (Martins et al, 2014).…”

Section: Perceived Risk (Pr) Theorymentioning

confidence: 99%

Neobanking adoption – An integrated UTAUT-3, perceived risk and recommendation model

Bhatnagr

Rajesh

2023

SAJM

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PurposeThe authors aim to study a conceptual model based on behavioural theories (UTAUT-3 model) to evaluate the adoption, usage and recommendation for neobanking services in India.Design/methodology/approachThe authors propose this model based on the UTAUT-3 integrated with perceived risk constructs. Hypotheses were developed to determine the relationships and empirically validated using the PLSs-SEM method. Using the survey method, 680 Delhi NCR respondents participated in the survey.FindingsEmpirical results suggested that behavioural intention (BI) to usage, adoption and recommendation affects neobanking adoption positively. The research observed that performance expectancy (PE), effort expectancy (EE), perceived privacy risk (PYR) and perceived performance risk (PPR) are the essential constructs influencing the adoption of neobanking services.Research limitations/implicationsLimited by geographic and Covid-19 constraints, a cross-sectional study was conducted. It highlights the BI of neobanking users tested using the UTAUT-3 model during the Covid-19 period.Originality/valueThe study's outcome offers valuable insights into Indian Neobanking services that researchers have not studied earlier. These insights will help bank managers, risk professionals, IT Developers, regulators, financial intermediaries and Fintech companies planning to invest or develop similar neobanking services. Additionally, this research provides significant insight into how perceived risk determinants may impact adoption independently for the neobanking service.

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Section: Perceived Risk (Pr) Theorymentioning

confidence: 99%

Neobanking adoption – An integrated UTAUT-3, perceived risk and recommendation model

Bhatnagr

Rajesh

2023

SAJM

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“…Ref. [52] Research conducted on millennials for e-banking services in India revealed a negative intention to use the services. Based on the data and analysis, we were not able to find a good amount of evidence proving that the "risk" factor has a great deal of influence on the "purchase intention".…”

Section: "Social Influence" Has a Significant Impact On "Purchase Int...mentioning

confidence: 99%

A Study on the Acceptance of Mobile-Banking Applications in India—Unified Theory of Acceptance and Sustainable Use of Technology Model (UTAUT)

et al. 2022

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This research makes an attempt to understand various factors that influence the adoption of mobile applications. Within the context of the “Unified theory of acceptance and use of technology” (UTAUT) modified model, considering the upcoming demand and increase in demand for mobile-banking applications, the researcher tried to explore the theoretical concept between random people of various states in India. The primary data was collected by preparing a questionnaire and circulating it using Google Forms. The collected data was further coded into Smart PLS 4 to understand the model and structural equation with reference to mobile-banking technological adoption and factors that had a significant impact. The conclusions derived from the study is that social influence, “effort expectancy”, and “trust” factors had a very strong influence on the “purchase intention”, whereas “effort” and “risk” factors had a negligible impact on purchase intent. It was also found that the UTAUT model is appropriate for evaluating the technological adoption of mobile-banking applications. With the advent of many players in the market and their unique banking management applications on mobile platforms, consumers are moving towards different third-party app than their origin bank in which they hold account. This has forced banking institutions to up the pace in the competition, introducing a lot of new features. It is also important to understand that, as a customer, there are a lot of attributes that he would be looking into for adoption. This paper is an attempt to understand the advancements in various variables that consumers would look at in the area of mobile-banking applications.

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“…Trust: This includes initial trust belief and initial trust attitude toward the fintech service providers (Mer and Virdi 2021). Respondents were asked about the safety of their personal information and money.…”

mentioning

confidence: 99%

A STUDY OF THE ROLE OF FINANCIAL TECHNOLOGY IN FIRM GROWTH: THE CASE OF INDIAN MSMEs

Gupta,

Agarwal

2023

Gurukul Business Review

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Purpose: The purpose of this paper is to examine the role of Financial Technology on registered Micro, Small and Medium enterprise of India. The paper reveals the viewpoint of MSME sector on Risk Management, Financial needs, and Use of Technology. The paper also revealed the respondents' behavioural intention for adopting Financial technology as well as preferences and acceptance for using financial technology. Also, the impact of financial technology acceptance on firm growth is studied. Design/methodology/approach: The paper was based on a descriptive and inferential research design for which original data is collected using a close ended questionnaire. The measurement items used in the questionnaire were derived from previous studies carried out in developing countries. Findings: The Financial technology has changed the ecosystem of Indian MSMEs as well as Banking Sector. The Financial technology acceptance rate among the MSMEs is high as 49.2% respondents consider themselves as Early Adopters. MSMEs believes that financial products and services available to them through traditional banks does not sufficiently meet their business's needs (6% non-adopters, 24% early-adopters and 18% moderateadopters) which echoes the need of alternate finance. Further 2% non-adopters, 47% earlyadopters and 46% moderate-adopters strongly agreed that using technology is vital for Business Financial needs. Also, Financial technology acceptance has significantly positive impact on their growth in terms of Turnover, Profitability, Market share, and Productivity. Originality/value: This empirical study contributes to the novel understanding of the acceptance and preference of MSME sector towards Financial technology and studies the impact of Financial technology acceptance on Firm growth.

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Modeling Millennials’ Adoption Intentions of E-banking: Extending UTAUT with Perceived Risk and Trust

Cited by 11 publications

References 63 publications

Neobanking adoption – An integrated UTAUT-3, perceived risk and recommendation model

Neobanking adoption – An integrated UTAUT-3, perceived risk and recommendation model

A Study on the Acceptance of Mobile-Banking Applications in India—Unified Theory of Acceptance and Sustainable Use of Technology Model (UTAUT)

A STUDY OF THE ROLE OF FINANCIAL TECHNOLOGY IN FIRM GROWTH: THE CASE OF INDIAN MSMEs

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