Abstract
Online banking has become a mainstream model of conducting banking, especially in the developed economies. Unfortunately, the adoption in the developing countries is still lagging behind due a number of factors. Prior research studies have identified these factors (positive or negative) that affect online banking adoption using a plethora of technology adoption models. One such model widely used in adoption studies is the unified theory of acceptance and use of technology (UTAUT). The research constructs outlined in this study were developed based on the UTAUT2 with additional control variables in South African context. There is limited empirical work that combines adoption factors and usability of the service that might hinder potential users from accepting the technology. This paper explores the factors affecting online banking adoption using an integration of UTAUT2 model and usable security principles to propose a theoretical model to explain customers’ intention to use online banking. To researchers, the paper offer insights to the usefulness of integrating UTAUT and other aspects such as usability in identifying and addressing adoption obstacles of new technologies. The implications of integration of UTAUT and usability into the proposed online banking adoption model are discussed. The paper presents a research model that combines UTAUT and usable security to address online banking adoption and security.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
Internet World Stats: Internet World Stats. http://www.internetworldstats.com/stats.htm. Accessed 15 August 2017
Gonzalez-Garcia, J.: Online and mobile banking statistics. http://www.creditcards.com/credit-card-news/online-mobile-banking.php. Accessed 20 November 2017
Statista: Online banking penetration in selected European markets in 2014. https://www.statista.com/statistics/222286/online-banking-penetration-in-leading-european-countries/. Accessed 8 September 2017
Statista: Global online banking penetration in April 2012, by region. https://www.statista.com/statistics/233284/development-of-global-online-banking-penetration/ Accessed 6 November 2017
FinMark Trust: FinScope South Africa 2016. http://www.finmark.org.za/wp-content/uploads/2017/12/08Nov2016_FinScope_Consumer-survey-South-Africa-2016.pdf. Accessed 5 April 2018
Berger, A.N.: The economic effects of technological progress: evidence from the banking industry. J. Money Credit Bank. 35(2), 141–176 (2003)
Vatanasombut, B., Igbaria, M., Stylianou, A.C., Rodgers, W.: Information systems continuance intention of web-based applications customers: the case of online banking. Inform. Manage. 45(7), 419–428 (2008)
Hernando, I., Nieto, M.J.: Is the internet delivery channel changing banks’ performance? The case of Spanish banks. J. Bank. Finance 31(4), 1083–1099 (2007)
Poon, W.: Users’ adoption of e-banking services: the Malaysian perspective. J. Bus. Ind. Market. 23(1), 59–69 (2008)
Brown, I., Hoppe, R., Mugera, P., Newman, P., Stander, A.: The impact of national environment on the adoption of internet banking: comparing Singapore and South Africa. J. Global Inform. Manage. 12(2), 1–26 (2004)
Mujinga, M., Eloff, M.M., Kroeze, J.H.: A socio-technical approach to information security. In: Proceedings of the 23rd Americas Conference on Information Systems (AMCIS), Boston, MA, 10–12 August, 2017, pp. 1–10
Brown, I., Molla, A.: Determinants of internet and cell phone banking adoption in South Africa. J. Internet Bank. Commerce 10(1), 1–9 (2005)
Venkatesh, V., Davis, F.D.: A theoretical extension of the technology acceptance model: four longitudinal field studies. Manage. Sci. 46(2), 186–204 (2000)
Venkatesh, V., Morris, M.G., Davis, G.B., Davis, F.D.: User acceptance of information technology: toward a unified view. MIS Q. 27(3), 425–478 (2003)
Brown, S.A., Venkatesh, V.: A model of adoption of technology in the household: a baseline model test and extension incorporating household life cycle. MIS Q. 29(3), 399–426 (2005)
Venkatesh, V., Thong, J., Xu, X.: Consumer acceptance and use of information technology: extending the unified theory of acceptance and use of technology. MIS Q. 36(1), 157–178 (2012)
Dodds, W.B., Monroe, K.B., Grewal, D.: Effects of price, brand, and store information on buyers’ product evaluations. J. Market. Res. 28(3), 307–319 (1991)
Limayem, M., Hirt, S.G., Cheung, C.M.K.: How habit limits the predictive power of intention: the case of information systems continuance. MIS Q. 31(4), 705–737 (2007)
Ajzen, I.: The theory of planned behavior. Organ. Behav. Hum. Decis. Process. 50(2), 179–211 (1991)
Tabachnick, B.G., Fidell, L.S.: Using Multivariate Statistics, 6th ed. Pearson Education, Essex (2014)
Hair, Jr., J.F., Black, W.C., Babin, B.J., Anderson, R.E.: Multivariate Data Analysis, 7th ed. Pearson Education, Essex (2014)
Comrey, A.L., Lee, H.B.: A First Course in Factor Analysis, 2nd edn. Psychology Press, New York, NY (1992)
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this paper
Cite this paper
Mujinga, M. (2022). Factors Influencing the Adoption of Online Banking in South Africa: An UTAUT Study. In: Arai, K. (eds) Intelligent Computing. Lecture Notes in Networks and Systems, vol 283. Springer, Cham. https://doi.org/10.1007/978-3-030-80119-9_76
Download citation
DOI: https://doi.org/10.1007/978-3-030-80119-9_76
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-80118-2
Online ISBN: 978-3-030-80119-9
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)