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An investigation of the factors driving the use of internet banking

The manner in which the Internet has transformed services and more especially the banking industry is discussed. The main objective of the research is to develop, test and validate a model that identifies the key factors driving usage of Internet banking. An extensive review of the literature, and exploratory qualitative research helped develop a conceptual model depicting the multiple influencing factors relevant to usage of Internet banking. The critical cornerstone of the research is a large scale electronic survey of Internet banking users. The Web survey was conducted using a non-probability sample of convenience, whereby 964 respondents constituted a final sample that broadly resembled the profile of Internet banking users which is cited frequently in the literature. Although, the branch continues to be the most favoured channel for a number of banking products and services, findings from this research indicate that the majority of respondents are willing to consider buying a wider range of banking products and services online in the future (e. g. current account, personal/car loan, and investment/savings), but also that the majority would definitely not buy more complex products (i. e. mortgage, life and pension) online in the future. The research has identified a number of significant demographic differences with respect to Internet banking. Also, people who have been using Internet banking for longer are more likely to use the services of more than one Internet banking provider. A number of variables showed large average estimated differences in the population groups when tested against the constructs. Most of the constructs are positively related to each other and there is a particularly strong positive relationship between Usefulness and Attitude to Internet banking. The results indicate a weak relationship between Usage and Satisfaction; and between Usage and Intentions. Control and Fun/Enjoyment are two significant predictors of Internet banking Usage, and Demographic are relatively weak in predicting Usage. A number of items were identified as strongly encouraging Usage. A revised conceptual model depicting Internet banking Usage is presented. CHAID analysis results suggest that many of the construct, behavioural, and demographic factors included in the revised model can be used to distinguish between high and low users of Internet banking.
Date January 2009
CreatorsFleming, Declan
PublisherUniversity of Manchester
Source SetsEthos UK
Detected LanguageEnglish
TypeElectronic Thesis or Dissertation

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