Factors influencing academic use of internet banking services: An empirical study

Abstract

This study explores factors influencing the adoption of Internet banking. Based on the literature and the unified theory of acceptance and use of technology (UTAUT) model, six constructs which influence academics’ usage of and behavioural intention to adopt Internet banking were identified: performance expectancy, effort expectancy, facilitating conditions, social influence, perceived risk and trust. Data was collected from 272 academics through a survey questionnaire, and correlations and regression were used to analyse the relationships. The results indicate that, while performance expectancy, effort expectancy and facilitating conditions had a positive association with academics’ Internet banking usage, it was not possible to find support for a positive association for social influence with academics’ Internet banking usage. Secondly, while trust had a positive association with academics’ behavioural intention to use Internet banking, the null hypothesis that perceived risk has no association with intention to use Internet banking could not be rejected. Facilitating conditions is the most influential factor explaining the usage of Internet banking. Implications from these findings may help banking institutions to structure their service model tactically for broader Internet banking usage and adoption.