Volume 19, Issue 3 (9-2024)
J. Mon. Ec. 2024, 19(3): 325-359 |
Back to browse issues page
Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
Mohammadbeigi S. The Impact of Customer Behavioral Factors on Digital Banking Decisions. J. Mon. Ec. 2024; 19 (3) : 3
URL: http://jme.mbri.ac.ir/article-1-678-en.html
URL: http://jme.mbri.ac.ir/article-1-678-en.html
Imam Khomeini educational & research institute
Abstract: (1498 Views)
This study investigates the impact of customer behavioral factors on digital banking decisions by integrating key constructs from the Technology Acceptance Model (TAM) with trust theory and social influence. A cross-sectional, questionnaire-based survey collected data from 550 digital banking users across major urban regions in Isfahan. The analysis utilized descriptive statistics, multiple regression, and structural equation modeling (SEM) to examine the relationships between perceived ease of use, perceived usefulness, trust, social influence, and digital banking adoption. Findings indicate that perceived usefulness and perceived ease of use are the strongest predictors of digital banking decisions, while trust and social influence also exhibit significant positive effects. Collectively, these factors explain approximately 42% of the variance in digital banking adoption, underscoring the multifaceted nature of customer decision-making in this domain. The study contributes to both theory and practice by extending the TAM framework to include relational constructs such as trust and social influence, thereby offering a more comprehensive model of digital banking adoption. Practical implications for financial institutions include the need to enhance platform usability, implement robust security measures, and leverage positive social endorsements to improve customer engagement. These insights provide a valuable roadmap for optimizing digital banking strategies in an increasingly competitive market.
Article number: 3
Keywords: Digital Banking, Customer Behavior, Technology Acceptance Model, Trust, Social Influence, Digital Adoption.
Type of Study: Original Research - Case Study |
Subject:
Economics
Received: 12 Feb 2025 | Accepted: 1 Jul 2025 | Published: 1 Jul 2025
Received: 12 Feb 2025 | Accepted: 1 Jul 2025 | Published: 1 Jul 2025
References
1. Abd Ghani, M., Rahi, S., Yasin, N. M., & Alnaser, F. M. (2017). Adoption of internet banking: extending the role of technology acceptance model (TAM) with e-customer service and customer satisfaction. World Applied Sciences Journal, 35(9), 1918-1929.
2. Ahmad, M. (2018). Review of the technology acceptance model (TAM) in internet banking and mobile banking. International Journal of Information Communication Technology and Digital Convergence, 3(1), 23-41.
3. Ajzen, I. (1991). The Theory of planned behavior. Organizational Behavior and Human Decision Processes. [DOI:10.1016/0749-5978(91)90020-T]
4. Al-Ajam, A. S., & Nor, K. M. (2013). Internet banking adoption: integrating technology acceptance model and trust. European Journal of Business and Management, 5(3), 207-215.
5. Al-Madadha, A., Al Khasawneh, M. H., Al Haddid, O., & Al-Adwan, A. S. (2022). Adoption of Telecommuting in the Banking Industry: A Technology Acceptance Model Approach. Interdisciplinary Journal of Information, Knowledge, and Management, 17, 443-470. [DOI:10.28945/5023]
6. Alnemer, H. A. (2022). Determinants of digital banking adoption in the Kingdom of Saudi Arabia: A technology acceptance model approach. Digital Business, 2(2), 100037. [DOI:10.1016/j.digbus.2022.100037]
7. Anggraeni, R., Hapsari, R., & Muslim, N. A. (2021). Examining factors influencing consumers intention and usage of digital banking: evidence from Indonesian digital banking customers. APMBA (Asia Pacific Management and Business Application), 9(3), 193-210. [DOI:10.21776/ub.apmba.2021.009.03.1]
8. Baraba, R. A. A., & Mahmudi, M. (2023). Understanding The Millennial Generation Behavior in Using Digital Banking. Asean International Journal of Business, 2(1), 1-13. [DOI:10.54099/aijb.v2i1.394]
9. Bhatti, M. A., Juhari, A. S., Alyahya, M., Saat, S. A. M., Alshiha, A. A., & Aldossary, M. (2022). Banking Customer Behavior and Banking Sector Performance: The Role of the Digital Infrastructure. The Journal of Modern Project Management, 10(2), 7-15.
10. Chauhan, S., Akhtar, A., & Gupta, A. (2022). Customer experience in digital banking: A review and future research directions. International Journal of Quality and Service Sciences, 14(2), 311-348. [DOI:10.1108/IJQSS-02-2021-0027]
11. Chotitumtara, A., & Namahoot, K. S. (2023). Assessing the Optimal Digital Banking Model for Service Users in Thailand: A Structural Equation Modelling Approach to Risk Analysis. International Journal, 10(5), 111-130. [DOI:10.15379/ijmst.v10i5.2428]
12. Gefen, D. (2000). E-commerce: the role of familiarity and trust. Omega, 28(6), 725-737. [DOI:10.1016/S0305-0483(00)00021-9]
13. George, A., & Kumar, G. G. (2013). Antecedents of customer satisfaction in internet banking: Technology acceptance model (TAM) redefined. Global business review, 14(4), 627-638. [DOI:10.1177/0972150913501602]
14. George, A., & Kumar, G. G. (2013). Antecedents of customer satisfaction in internet banking: Technology acceptance model (TAM) redefined. Global business review, 14(4), 627-638. [DOI:10.1177/0972150913501602]
15. KA, A. A., & Subramanian, R. (2024). Current status of research on mobile banking: an analysis of literature. Vision, 28(1), 7-18. [DOI:10.1177/09722629211073268]
16. Kamel, S., & Hassan, A. (2006). Assessing the introduction of electronic banking in Egypt using the technology acceptance model. In Cases on electronic commerce technologies and applications (pp. 296-320). IGI Global. [DOI:10.4018/978-1-59904-402-6.ch018]
17. Kaur, S. J., Ali, L., Hassan, M. K., & Al-Emran, M. (2021). Adoption of digital banking channels in an emerging economy: exploring the role of in-branch efforts. Journal of Financial Services Marketing, 26(2), 107. [DOI:10.1057/s41264-020-00082-w]
18. Khan, I. U. (2022). How does culture influence digital banking? A comparative study based on the unified model. Technology in Society, 68, 101822. [DOI:10.1016/j.techsoc.2021.101822]
19. Kusumawati, N., & Rinaldi, A. A. (2020). Trust Role in Acceptance of Digital Banking in Indonesia. International Journal of Trade, Economics and Finance, 11(1), 13-18. [DOI:10.18178/ijtef.2020.11.1.659]
20. Lai, V. S., & Li, H. (2005). Technology acceptance model for internet banking: an invariance analysis. Information & management, 42(2), 373-386. [DOI:10.1016/j.im.2004.01.007]
21. Lim, W., & Soesilo, P. K. (2024). Factors Affecting the Intention to Use Digital Banking Services: Case Study. Achieving Sustainable Business Through AI, Technology Education and Computer Science: Teaching technology and business sustainability, 2, 271. [DOI:10.1007/978-3-031-71213-5_25]
22. Lule, I., Omwansa, T. K., & Waema, T. M. (2012). Application of technology acceptance model (TAM) in m-banking adoption in Kenya. International journal of computing & ICT research, 6(1).
23. Madhumita, G., Das, T., Das, S., Khatri, E., Ravisankar, P., & Hemachandu, P. (2024, April). IoT and AI for Real-Time Customer Behavior Analysis in Digital Banking. In 2024 5th International Conference on Recent Trends in Computer Science and Technology (ICRTCST) (pp. 198-203). IEEE. [DOI:10.1109/ICRTCST61793.2024.10578458]
24. Marakarkandy, B., Yajnik, N., & Dasgupta, C. (2017). Enabling internet banking adoption: An empirical examination with an augmented technology acceptance model (TAM). Journal of Enterprise Information Management, 30(2), 263-294. [DOI:10.1108/JEIM-10-2015-0094]
25. Marakarkandy, B., Yajnik, N., & Dasgupta, C. (2017). Enabling internet banking adoption: An empirical examination with an augmented technology acceptance model (TAM). Journal of Enterprise Information Management, 30(2), 263-294. [DOI:10.1108/JEIM-10-2015-0094]
26. Martínez-Navalón, J. G., Fernández-Fernández, M., & Alberto, F. P. (2023). Does privacy and ease of use influence user trust in digital banking applications in Spain and Portugal? International Entrepreneurship and Management Journal, 19(2), 781-803. [DOI:10.1007/s11365-023-00839-4]
27. McKechnie, S., Winklhofer, H., & Ennew, C. (2006). Applying the technology acceptance model to the online retailing of financial services. International Journal of Retail & Distribution Management, 34(4/5), 388-410. [DOI:10.1108/09590550610660297]
28. McKnight, D. H., Choudhury, V., & Kacmar, C. (2002). Developing and validating trust measures for e-commerce: An integrative typology. Information systems research, 13(3), 334-359. [DOI:10.1287/isre.13.3.334.81]
29. Melnyk, V. (2024). Transforming the nature of trust between banks and young clients: from traditional to digital banking. Qualitative Research in Financial Markets, 16(4), 618-635. [DOI:10.1108/QRFM-08-2022-0129]
30. Mousa, A. H., Mousa, S. H., Aljshamee, M., & Nasir, I. S. (2021). Determinants of customer acceptance of e-banking in Iraq using technology acceptance model. TELKOMNIKA (Telecommunication Computing Electronics and Control), 19(2), 421-431. [DOI:10.12928/telkomnika.v19i2.16068]
31. Mufarih, M., Jayadi, R., & Sugandi, Y. (2020). Factors influencing customers to use digital banking application in Yogyakarta, Indonesia. The Journal of Asian Finance, Economics and Business, 7(10), 897-907. [DOI:10.13106/jafeb.2020.vol7.no10.897]
32. Naeem, M. (2020). Developing the antecedents of social influence for Internet banking adoption through social networking platforms: evidence from conventional and Islamic banks. Asia Pacific Journal of Marketing and Logistics, 33(1), 185-204. [DOI:10.1108/APJML-07-2019-0467]
33. Ngo, H. Q., & Le, M. T. (2023). The role of perceived security and social influence on the usage behavior of digital banking services: An extension of the technology acceptance model.
34. Nguyen, O. T. (2020). Factors affecting the intention to use digital banking in Vietnam. The Journal of Asian Finance, Economics and Business, 7(3), 303-310. [DOI:10.13106/jafeb.2020.vol7.no3.303]
35. Ouzzani, M., Hammady, H., Fedorowicz, Z., & Elmagarmid, A. (2016). Rayyan-a web and mobile app for systematic reviews. Systematic reviews, 5, 1-10. [DOI:10.1186/s13643-016-0384-4]
36. Pavlou, P. A. (2003). Consumer acceptance of electronic commerce: Integrating trust and risk with the technology acceptance model. International journal of electronic commerce, 7(3), 101-134. [DOI:10.1080/10864415.2003.11044275]
37. Pikkarainen, T., Pikkarainen, K., Karjaluoto, H., & Pahnila, S. (2004). Consumer acceptance of online banking: an extension of the technology acceptance model. Internet research, 14(3), 224-235. [DOI:10.1108/10662240410542652]
38. Pikkarainen, T., Pikkarainen, K., Karjaluoto, H., & Pahnila, S. (2004). Consumer acceptance of online banking: an extension of the technology acceptance model. Internet research, 14(3), 224-235. [DOI:10.1108/10662240410542652]
39. Pratama, S. F. (2024). Analyzing the determinants of user satisfaction and continuous usage intention for digital banking platform in Indonesia: A structural equation modeling approach. Journal of Digital Market and Digital Currency, 1(3), 267-285. [DOI:10.47738/jdmdc.v1i3.21]
40. Radomir, L., & Nistor, V. C. (2013). An application of technology acceptance model to internet banking services. In The Proceedings of the International Conference" Marketing-from Information to Decision" (p. 251). Babes Bolyai University.
41. Revathi, P. (2019). Digital banking challenges and opportunities in India. EPRA International Journal of Economic and Business Review, 7(12), 20-23. [DOI:10.36713/epra2985]
42. Samar, S., Ghani, M., & Alnaser, F. (2017). Predicting customer's intentions to use internet banking: the role of technology acceptance model (TAM) in e-banking. Management Science Letters, 7(11), 513-524. [DOI:10.5267/j.msl.2017.8.004]
43. Samar, S., Ghani, M., & Alnaser, F. (2017). Predicting customer's intentions to use internet banking: the role of technology acceptance model (TAM) in e-banking. Management Science Letters, 7(11), 513-524. [DOI:10.5267/j.msl.2017.8.004]
44. Santos, A. A. D., & Ponchio, M. C. (2021). Functional, psychological and emotional barriers and the resistance to the use of digital banking services. Innovation & Management Review, 18(3), 331-348. [DOI:10.1108/INMR-07-2020-0093]
45. Shaikh, I. M., & Amin, H. (2025). Influence of innovation diffusion factors on non-users' adoption of digital banking services in the banking 4.0 era. Information Discovery and Delivery, 53(1), 12-21. [DOI:10.1108/IDD-05-2023-0044]
46. Shaikh, I. M., Qureshi, M. A., Noordin, K., Shaikh, J. M., Khan, A., & Shahbaz, M. S. (2020). Acceptance of Islamic financial technology (FinTech) banking services by Malaysian users: an extension of technology acceptance model. foresight, 22(3), 367-383. [DOI:10.1108/FS-12-2019-0105]
47. Sikarwar, T. S. (2019). Social influence and individual financial behavior for Digital Banking: A causal study. International Journal of Accounting and Financial Reporting, 9(4), 242. [DOI:10.5296/ijafr.v9i4.15905]
48. Souiden, N., Ladhari, R., & Chaouali, W. (2021). Mobile banking adoption: a systematic review. International Journal of Bank Marketing, 39(2), 214-241. [DOI:10.1108/IJBM-04-2020-0182]
49. Tam, C., & Oliveira, T. (2017). Literature review of mobile banking and individual performance. International Journal of Bank Marketing, 35(7), 1044-1067. [DOI:10.1108/IJBM-09-2015-0143]
50. Usman, H., Projo, N. W. K., Chairy, C., & Haque, M. G. (2022). The exploration role of Sharia compliance in technology acceptance model for e-banking (case: Islamic bank in Indonesia). Journal of Islamic Marketing, 13(5), 1089-1110. [DOI:10.1108/JIMA-08-2020-0230]
51. Venkatesh, V., & Davis, F. D. (2000). A theoretical extension of the technology acceptance model: Four longitudinal field studies. Management science, 46(2), 186-204. [DOI:10.1287/mnsc.46.2.186.11926]
52. Vuković, M., Pivac, S., & Kundid, D. (2019). Technology acceptance model for the internet banking acceptance in split. Business Systems Research: International journal of the Society for Advancing Innovation and Research in Economy, 10(2), 124-140. [DOI:10.2478/bsrj-2019-022]
53. Wewege, L., Lee, J., & Thomsett, M. C. (2020). Disruptions and digital banking trends. Journal of Applied Finance and Banking, 10(6), 15-56.
54. Yaghoubi, N. M., & Bahmani, E. (2010). Factors affecting the adoption of online banking: An integration of technology acceptance model and theory of planned behavior. International journal of business and management, 5(9), 159-165. [DOI:10.5539/ijbm.v5n9p159]
55. Yousafzai, S. Y., Foxall, G. R., & Pallister, J. G. (2010). Explaining internet banking behavior: theory of reasoned action, theory of planned behavior, or technology acceptance model? Journal of applied social psychology, 40(5), 1172-1202. [DOI:10.1111/j.1559-1816.2010.00615.x]
| Rights and permissions | |
 |
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. |
