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

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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.

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Authors and Affiliations

  1. Medi-Caps University, Indore, A.B. Road, Pigdamber, Rau, Indore, Madhya Pradesh, PIN 453331, India

    Vikas Chauhan

  2. Department of Marketing, Institute of Management Technology, Hyderabad, India

    Rambalak Yadav

  3. Prestige Institute of Management and Research, 2, Education and Health Sector, Scheme No. 54, Near Bombay Hospital, Indore, Madhya Pradesh, PIN 452010, India

    Vipin Choudhary

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  1. Vikas Chauhan
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Chauhan, V., Yadav, R. & Choudhary, V. Adoption of electronic banking services in India: an extension of UTAUT2 model. J Financ Serv Mark 27, 27–40 (2022). https://doi.org/10.1057/s41264-021-00095-z

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