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An empirical study on factors affecting customers’ acceptance of internet-only banks in Korea

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  • Cheolho Yoon
  • Dongsup Lim

Abstract

Internet-only banks have recently emerged in the financial industry because of the rapid development of fintech, which combines information and communication technologies with finance. This study investigated the factors affecting customers’ acceptance of internet-only banks in Korea. A research model was developed in which relative advantage, complexity, compatibility, image, trialability, perceived critical mass, personal innovativeness, and computer self-efficacy influence perceived usefulness; image, trialability, perceived critical mass, personal innovativeness, and computer self-efficacy influence perceived enjoyment; and perceived usefulness, perceived enjoyment, and subjective norms influence the intention to use internet-only banks was developed. A total of 305 valid data were collected through questionnaires and analyzed using confirmatory factor analysis and path analysis through structural equation modeling. Results showed that relative advantage, image, perceived critical mass, and personal innovativeness influence perceived usefulness; image, trialability, perceived critical mass, personal innovativeness, and computer self-efficacy influence perceived enjoyment; and perceived usefulness, perceived enjoyment, and subjective norms influence the intention to use internet-only banks. This study suggests practical implications for research on the factors affecting customers’ acceptance of internet-only banks in Korea.

Suggested Citation

  • Cheolho Yoon & Dongsup Lim, 2020. "An empirical study on factors affecting customers’ acceptance of internet-only banks in Korea," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1792259-179, January.
    • Handle: RePEc:taf:oabmxx:v:7:y:2020:i:1:p:1792259
    DOI: 10.1080/23311975.2020.1792259
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    Cited by:

    1. Saif, Mashaal A.M. & Hussin, Nazimah & Husin, Maizaitulaidawati Md & Muneer, Amgad & Alwadain, Ayed, 2024. "Beyond conventions: Unravelling perceived value's role in shaping digital-only banks' adoption," Technological Forecasting and Social Change, Elsevier, vol. 203(C).
    2. Zhang, Xingyi & Wen, Han & Shao, Xiaolong, 2024. "Understanding consumers’ acceptance of edible food packaging: The role of consumer innovativeness," Journal of Retailing and Consumer Services, Elsevier, vol. 80(C).
    3. Valor, Carmen & Antonetti, Paolo & Crisafulli, Benedetta, 2022. "Emotions and consumers’ adoption of innovations: An integrative review and research agenda," Technological Forecasting and Social Change, Elsevier, vol. 179(C).
    4. Sangho Lee & Cheolho Yoon, 2022. "Factors of the Adoption of O2O Service Platforms: Evidence from Small Businesses in Korea," Sustainability, MDPI, vol. 14(23), pages 1-18, November.

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