Examining adoption of internet banking system among future managers and ICT professionals using unified theory of acceptance and use of technology model

Abstract

Internet banking provides greater effectiveness and efficiency in banking transaction, and fast exchange between users, banks and financial institutions. In addition, there are many advantages of internet banking system which encourage users to consider adopting the system, such as convenience, flexible, no time restriction and real time interactivity to the adopters. However, some users, especially young users are not adopting the system because of some problems, such as security and confidentiality issues. These issues are very much related to the human behavior to adopt information systems. Due to these rising issues, and limited used of Unified Theory of Acceptance and Use of Technology (UTAUT) model to determine and validate the adoption of internet banking system in the Malaysian context, this study attempts to examine users’ behavior intention of internet banking system using the model. A conceptual model of performance expectancy (PE), effort expectancy (EE), social influences (SI) and facilitating conditions (FC) towards users’ behavioral intention which will then lead to their use behavior in Internet banking system was developed. Two groups of respondents-the future managers who are undergraduate students from Faculty of Management (FoM) and the ICT Professionals of Faculty of Computing (FoC)-all are pursuing their degree in a Malaysia’s public university participated in this study. The analyses performed on the 277 completed questionnaires indicated that PE, EE, SI and FC were positively and significantly influenced the behavioral intention of the future managers and ICT Professionals in adopting the internet banking system. SI appeared to have the highest effects on their behavioral intention towards the system. The behavioral intention of the respondents is positively and significantly influenced their use behavior of the internet banking system. Theoretical implication of this finding was discussed and effective marketing strategy and programs are proposed for bank managers to convince these groups to continuously use the internet banking system.