Investigation of Effective Factors on e-Banking using the Technology Acceptance Model

Abstract

In the changing and challenging COVID world, E-banking and E-commerce have become certain. Here the question of acceptance and use of technology raises. The adoption of new technologies has e vital importance in all businesses, and the banking industry is not excluded. The implementation of emerging technology has been under deliberation since the year 1970. Over many decades, many theories and models have proposed to address the consumer adoption issues; one of them is the Technology Acceptance Model (TAM). Perfect usage of information and communication technology by banks not only decreases the operational costs but also increases customer satisfaction. This paper aims to determine whether the motivation for using banking technology in the banking sector, can be explained by perceived ease of use and perceived usefulness as the main elements of the technology acceptance model. This paper also empirically investigates the correlation between using different types of e-banking services. Besides, the paper studies the effect of several parameters like customer’s age, gender, annual revenue, education, and level of information technology skill on the utilization of e-banking services. To derive the results, Chi-square and Friedman’s non-parametric ranking tests were used. It also provides the banks with appropriate approaches to present effective training to clients and efficacious customer notification of e-banking advantages. The results confirmed that both elements of the technology acceptance model significantly influence the acceptance of Internet banking. It is concluded that demographic and economic characteristics and perceptions of individuals affect the acceptance and use of Internet banking. The results showed that both elements of the technology acceptance model influence the acceptance of Internet banking.