User Motivation and Role of the Technology Acceptance Model (TAM) in Banking Services

Abstract

The development of financial technology and the ubiquity of the Internet are causing changes in consumer behavior, increasing competition in the financial services sector, and encouraging banks to actively implement digital technologies in their activities. Various initiatives and implemented innovations have attracted the attention of researchers in this industry. Previously, the main focus of researchers has been on technological development, but is now shifting to user-centered research. As practice shows, potential users may not use innovations despite their availability. This points to the need for additional research. The study was designed based on the Technology Adoption Model (TAM), and the model empirically examines changes in traditional banking services using a sample of 93 customers. The questionnaire included three parts. In the first part, respondents were asked what motivations for using online banking and traditional bank services are the most important for customer retention in the context of emerging technology. The second part asked about attitudes towards changes in bank services. The third part was demographic questions about the participants. According to the results, perceived usefulness, perceived ease, and attitudes toward use are determinants in the use of online banking services; the main motivators are getting banking services easier and faster, more control over financial banking activity, and a better customer experience. The implications of the results are discussed and suggestions for the future are made.