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Analyzing the factors influencing adoption intention of internet banking: Applying DEMATEL-ANP-SEM approach

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  • Wan-Rung Lin
  • Yi-Hsien Wang
  • Yi-Min Hung

Abstract

The main purpose of this study is to propose a research model to explore the key factors affecting consumers’ willingness to use online banking. There are two stages in this research. Firstly, the decision making trial and evaluation laboratory (DEMATEL) and analytic network process (ANP) were used to explore the key factors of companies in operation of online banking. Secondly, the structural equation modeling (SEM) was used to explore the key factors of consumers’ actual use of online banking. The results showed differences in the factors that companies and consumers adopted. Based on the findings, companies can adjust their business strategies and improve the consumers’ willingness of online banking usage. The primary factor valued by both companies and consumers is trust. Hence, in the business of internet banking, the companies must strengthen areas such as liquidity monitoring, information security, and compliance with financial regulations, in order to reduce risks and gain customers’ trust.

Suggested Citation

  • Wan-Rung Lin & Yi-Hsien Wang & Yi-Min Hung, 2020. "Analyzing the factors influencing adoption intention of internet banking: Applying DEMATEL-ANP-SEM approach," PLOS ONE, Public Library of Science, vol. 15(2), pages 1-25, February.
    • Handle: RePEc:plo:pone00:0227852
    DOI: 10.1371/journal.pone.0227852
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    References listed on IDEAS

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    1. Abdulwahed Mo. Sh. Khalfan & Yaqoub S.Y. AlRefaei & Majed Al-Hajery, 2006. "Factors influencing the adoption of internet banking in Oman: a descriptive case study analysis," International Journal of Financial Services Management, Inderscience Enterprises Ltd, vol. 1(2/3), pages 155-172.
    2. Rahi, Samar & Abd.Ghani, Mazuri & Hafaz Ngah, Abdul, 2019. "Integration of unified theory of acceptance and use of technology in internet banking adoption setting: Evidence from Pakistan," Technology in Society, Elsevier, vol. 58(C).
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    Cited by:

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    2. Faruk Ahmeti & Burim Prenaj, 2022. "Determinants Affecting Consumer Acceptance and Adoption of Internet Banking in Developing Countries: The case study of Kosovo," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 60-79.
    3. Ammari, Aymen & Allodi, Evita & Salerno, Dario & Stella, Gian Paolo, 2023. "An asymmetrical approach to understanding consumer characteristics in banking trust during the COVID-19 pandemic in Italy," Research in International Business and Finance, Elsevier, vol. 64(C).
    4. Haifeng Zhao & Nosherwan Khaliq & Chunling Li & Judit Oláh, 2024. "In quest of perceived transaction cost’s impact on fintech users’ intention: the moderating role of situational factors," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-13, December.
    5. Gibson Muridzi, 2023. "Implication of internet of things (IoT) on organisational performance for SMEs in emerging economies – a systematic review," Technology audit and production reserves, PC TECHNOLOGY CENTER, vol. 6(4(74)), pages 27-35, December.
    6. Nwankwo Cosmas Anayochukwu & Kanyangale MacDonald Isaac & Abugu James Okechukwu, 2021. "The Basics of a Mobile Money-Based Financial Service: Perceptions of University Students in Nigeria," Foundations of Management, Sciendo, vol. 13(1), pages 209-218, January.
    7. Batara Surya & Hernita Hernita & Agus Salim & Seri Suriani & Iwan Perwira & Yulia Yulia & Muhlis Ruslan & Kafrawi Yunus, 2022. "Travel-Business Stagnation and SME Business Turbulence in the Tourism Sector in the Era of the COVID-19 Pandemic," Sustainability, MDPI, vol. 14(4), pages 1-37, February.
    8. Tengku Ikmal Hakimi & Johanna Abdullah Jaafar & Nor Azah Abdul Aziz, 2023. "What factors influence the usage of mobile banking among digital natives?," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(4), pages 763-778, December.
    9. Santiago Carbo-Valverde & Pedro Cuadros-Solas & Francisco Rodríguez-Fernández, 2020. "A machine learning approach to the digitalization of bank customers: Evidence from random and causal forests," PLOS ONE, Public Library of Science, vol. 15(10), pages 1-39, October.

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