Adoption of Internet Banking in Greece, a Consumers’ Perspective
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- 3.4.1 Studies of Internet Banking Using Other Models
3.4 TAM and Internet BankingThe first part of the literature review was conducted using the method described above. Nevertheless, the snowball effect revealed literature concerning internet banking in other journals. Specifically the last years there was an increased amount of research on internet banking. The emergence and the inarguable advantages of internet banking for both consumers and banks initiated an effort to examine the determinants of individuals’ acceptance. It is of great importance for the banks to have full knowledge of their service as it is relatively new and quite complex. It is noteworthy that the examination of internet banking as an innovation was conducted not only in developing countries but also in developed countries with high rate of adoption like Finland. The constructs and the research methodology used in these studies vary; most of the times depend on the differences between each country. The adoption of new technologies is always a matter that proclaims investigation. Taiwan, Finland and Turkey are three very different countries in terms of culture, mores and way of living. Wang et al. (2003), Pikkarainen et al. (2004) and Celic (2008) examined the acceptance of internet banking in Taiwan, Finland, and Turkey respectively. All of the researchers based their studies on the same model, TAM, but each one adapted it accordingly to needs of his country. Wang et al. (2004) added computer self-efficacy as an individual difference variable and perceived credibility. They conducted telephone interviews to 123 respondents. The results indicate the appropriateness of using TAM to examine the adoption of internet banking. Interestingly the results show that perceived ease of use is the strongest determinant and the new construct, perceived credibility, found to be more significant than perceived usefulness inconsistent with other studies. Pikkarainen et al. (2004) on the other hand extended TAM by adding perceived enjoyment, information on online banking, security and privacy and quality of internet connection. Perceived usefulness, the basic construct of TAM proved to be the most significant of the model consistent with previous studies. All the hypotheses were supported but in contrast with the study in Taiwan perceived usefulness is the strongest determinant as well as the information about internet banking that consumers have available. The time the study was conducted, approximately the 55 percent of the private banking customers used internet banking whereas according to Table 1.1 (See Chapter 1, pg 10) 84 percent of individuals between sixteen and seventy four years old used internet banking in 2007. The most recent study about internet banking conducted in Turkey, country very similar to Greece. Celik (2008) added perceived behavioral control (PBC), perceived playfulness (PPL) and perceived risk (PR). The survey was conducted online and 161 respondents participated. The model finally explained 54 percent of the variance and the results indicated that perceived usefulness and perceived ease of use are the strongest determinants of customer’s attitude towards internet banking with PU explaining big proportion of the attitude. Moreover, PPL, PR and PBC found to be significant and affect behavioral intention to use internet banking. 3.4.1 Studies of Internet Banking Using Other ModelsAccording to Sathye (1999), Australian consumers did not seem to use internet banking. Since the first appearance of internet banking, the adoption and growth of internet banking was slow. Sathye built a framework to examine what determinates consumers’ perceptions to use the system. The main factors of the model were; ease of use, security, price/cost, resistance to change, availability of computers/internet and awareness of the service. The main barriers inhibiting the acceptance of internet banking in Australia were according to the results security concerns among users about the new service and lack of awareness about the new service and its advantages. Both determinants can be manipulated by the banks. On the other hand, the results indicated availability of resources like computers and internet and resistance to change form the traditional ways to conduct transactions were not significant. In Singapore, internet banking first appeared in 1997 when simple features based on web sites were supported. Slowly the process of internet banking became familiar but not widespread. Tan and Teo (2000) examined the adoption of internet banking and tried to find the determinants of acceptance from consumers’ perspective. In order to conduct their study they built a framework combining Theory of Planned Behavior and Diffusion Innovation Theory. Three factors were used in the framework; attitude, subjective norms and perceived behavioral control. Finally, the results indicated that subjective norm do not have any significant effect consistent with studies that found that subjective norm is not significant for voluntary technologies and the availability of technology support was almost insignificant. As we mentioned before the construct of availability of resources was insignificant in Finland (Pikkarainen et al. 2004) and in Australia (Sathye 1999). In Thailand, banks started to provide an increased number of alternative ways to conduct banking by taking advantage of the Internet. Still at an infant phase, internet banking made its appearance and enabled Thailand consumers to conduct basic banking transactions in a faster and more comfortable way. In order to better understand and improve the process of online banking Jaruwachirathanakul and Fink (2004) conducted a very interesting study about internet banking. Their study is based on decomposed theory of Planned Behavior model, according to this model the adoption of internet banking by Thailand consumers depends on three factors:
Moderating factors were also included in the model: age, gender, educational levels, income, internet experience and internet banking experience. In order to facilitate the examination of the determinants of user adoption of internet banking the authors further categorized the factors into, “facilitating factors” which represent what the banks can control and change and “inhibiting factors” as the factors that inhibit the proliferation and they cannot be controlled by the banks. The most important facilitating factors are: perceived usefulness and features of the web site, while the most significant impediment is external environment. This interesting and useful categorization helps banks to discern what they can improve in the service by themselves in order to to increase its use by customers. Directory: pub pub -> Project Scoring Template Pre-Construction Phase New Core/Branch Campus Projects pub -> Acm word Template for sig site pub -> The german unification, 1815-1870 pub -> Baltic Olympiads in Informatics: Challenges for Training Together pub -> Preparation of Papers for ieee transactions on medical imaging pub -> Forthcoming meetings and conferences pub -> Asilomar Conference on Circuits, Systems & Computers, Pacific Grove, ca, November 1978, pp. 55 58 pub -> Forthcoming meetings and conferences pub -> Harmonised compatibility and sharing conditions for video pmse in the 7 9 ghz frequency band, taking into account radar use Download 0.7 Mb. Share with your friends:
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