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Adoption of electronic banking services in India: an extension of UTAUT2 model

Author

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  • Vikas Chauhan

    (Medi-Caps University, Indore)

  • Rambalak Yadav

    (Institute of Management Technology)

  • Vipin Choudhary

    (Prestige Institute of Management and Research)

Abstract

Indian banks have paid sufficient attention to recent innovations in banking services delivery such as e-banking, mobile banking, mobile payment, e-wallet, and e-money services, still the acceptance of these services among consumers is sluggish. Therefore, the present study aims to identify the intention of consumers to adopt various e-banking services. The study adopted the UTAUT2 model (Unified Theory of Acceptance and Use of Technology) and extended it with constructs such as consumer innovativeness, perceived risk, and security information availability. The extended research model was tested using a questionnaire-based response collected from 721 consumers. CB-SEM (Covariance-based structural equation modeling) was used to examine the hypotheses. An empirical examination of the model helped explain the impact of the UTAUT2 model's constructs in predicting adoption intention toward e-banking services. The study also revealed the importance and impact of newly incorporated variables in explaining consumers' adoption intention toward e-banking services. The study has provided some useful insight into the factors influencing consumers' intention to adopt e-banking services to shed new light.

Suggested Citation

  • Vikas Chauhan & Rambalak Yadav & Vipin Choudhary, 2022. "Adoption of electronic banking services in India: an extension of UTAUT2 model," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 27(1), pages 27-40, March.
    • Handle: RePEc:pal:jofsma:v:27:y:2022:i:1:d:10.1057_s41264-021-00095-z
    DOI: 10.1057/s41264-021-00095-z
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    2. G. M. Azmal Ali Quaosar & Md. Abidur Rahman & Md. Siddikur Rahman, 2024. "Factors Affecting the Adoption of HRIS: An Empirical Study Using Extended UTAUT2 Model," International Journal of Business and Management, Canadian Center of Science and Education, vol. 19(3), pages 213-213, June.
    3. Vikas Chauhan & Rohit Joshi & Vipin Choudhary, 2024. "Understanding intention to adopt telematics-based automobile insurance in an emerging economy: a mixed-method approach," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(3), pages 1017-1036, September.
    4. İbrahim Aydın & Zübeyir Çelik & Kaan Yiğenoğlu & Ayhan Cesur, 2024. "Consumers' foresight for the digital Turkish lira: an empirical study," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 214-228, June.
    5. L. Vimal Raj & S. Amilan & K. Aparna & Karthick Swaminathan, 2024. "Factors influencing the adoption of cashless transactions during COVID-19: an extension of enhanced UTAUT with pandemic precautionary measures," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 488-507, June.
    6. Eloy Gil-Cordero & Pablo Ledesma-Chaves & Sunghoon Yoo & Heesup Han, 2023. "Luxury tourism and purchase intention factors: a mixed approach applied to luxury goods," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-20, December.
    7. de Blanes Sebastián, María García & Antonovica, Arta & Sarmiento Guede, José Ramón, 2023. "What are the leading factors for using Spanish peer-to-peer mobile payment platform Bizum? The applied analysis of the UTAUT2 model," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    8. Mohd Shafie Rosli & Nor Shela Saleh & Azlah Md. Ali & Suaibah Abu Bakar, 2023. "Factors Determining the Acceptance of E-Wallet among Gen Z from the Lens of the Extended Technology Acceptance Model," Sustainability, MDPI, vol. 15(7), pages 1-23, March.
    9. Egemen Hopalı & Özalp Vayvay & Zeynep Tuğçe Kalender & Deniz Turhan & Ceyda Aysuna, 2022. "How Do Mobile Wallets Improve Sustainability in Payment Services? A Comprehensive Literature Review," Sustainability, MDPI, vol. 14(24), pages 1-30, December.
    10. Shagun Tyagi & Ashulekha Gupta & Nabila Ansari, 2024. "Adoption and perception of banking customers towards green mode of banking: a demonstration of structural equation modelling," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(3), pages 826-842, September.
    11. Weidong Huo & Wang Xiohui & Muhammad Zulfiqar & Ahmed Chand & Muhammad Rizwan Ullah, 2024. "Communication dynamics: Fintech’s role in promoting sustainable cashless transactions," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
    12. Samuel Godadaw Ayinaddis & Birhan Ambachew Taye & Bantie Getnet Yirsaw, 2023. "Examining the effect of electronic banking service quality on customer satisfaction and loyalty: an implication for technological innovation," Journal of Innovation and Entrepreneurship, Springer, vol. 12(1), pages 1-18, December.
    13. Kaushik Mukerjee, 2024. "Augmented reality and customer engagement in the context of e-banking," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(4), pages 1559-1571, December.

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