Intention to use chat banking: A behavioural reasoning and cross-environment perspective
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Date
2023
Authors
Mabuyana, Brian
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Free State
Abstract
This study examined the adoption of chat banking by considering cross-environment evaluations originating from the use of the bank’s mobile banking application. The researcher discovered that there are deficiencies in studies that simultaneously address the determinants (reasons for and against) in a single framework related to chat banking, which the current study addresses. The researcher believed that incorporating characteristics of the innovation diffusion theory (reasons for) and perceived risk dimensions (reasons against) would be an essential linkage between people’s openness to change-attitude towards the chat banking relationship that resultantly leads to the intention to use chat banking. The study also aimed to ascertain the influence of attitude toward chat banking on intention to use chat banking. A quantitative research approach was used for this study and a non-probability sampling method was employed. Data was collected from 305 mobile banking users using an online survey. According to the structural equation modelling analysis results, the tested relationships produced satisfactory results consistent with how they were hypothesised. Forty-seven hypotheses were tested and the hypotheses results confirmed that eleven hypotheses were statistically significant and therefore accepted. Specifically, it appeared that openness to change had a positive and a significant impact on attitude towards chat banking. It was also discovered that attitude towards chat banking has a positive and a significant impact on the intention to use chat banking. The results of the statistical testing showed that direct effects of openness to change on characteristics of innovation diffusion theory (perceived relative advantage, trialability, complexity and observability) and perceived risk dimensions (performance risk, time-loss risk and privacy risk) were statistically significant. Moreover, the data supported the hypothesised effect of perceived risk dimensions (performance risk, financial risk, social risk, time-loss risk, privacy risk) on attitude towards chat banking. However, the characteristics of innovation diffusion theory on attitude towards chat banking were statistically insignificant. Moreover, it was discovered that trust in mobile banking did not positively moderate the nexus between openness to change and all the characteristics of the innovation diffusion theory (perceived relative advantage, trialability, complexity, observability). Trust in mobile banking did not negatively moderate the association between openness to change and perceived risk dimensions such as performance risk, time-loss risk, privacy risk, and security risk. By comprehensively examining the intention to use chat banking, this study has valuable implications for academics and practitioners such as marketers and bank managers. This research will add to the corpus of information on chat banking in Africa, which is generally overlooked by academics in developing countries. The theoretical contributions of the study include the following: The study contributed to the limited body of knowledge of customer’ intention to adopt chat banking. The study results extended the findings from prior literature by providing evidence that within the perceived risk construct, psychological risk could not be a mediator of the openness to change -attitude towards chat banking relationship. Specifically, this study provided evidence that reasons against (perceived risk dimensions: performance risk, financial risk, social risk, time-loss risk, privacy risk and security risk) mediated the openness to change – attitude towards chat banking relationship in a chat banking context. Also, the study discovered that reasons for (perceived relative advantage, trialability, complexity and observability) are not mediators of the openness to change – attituded towards chat banking while attitude towards chat banking did not mediate the openness to change – intention to use chat banking relationship in the chat banking context. Based on the results of the study, managerial recommendations were proposed to enhance the amplification of customers’ openness to change onto the attitude towards chat banking of non-users of chat banking. The study concludes with identifying the limitations of the study and presented future research opportunities.
Description
Thesis (Ph.D.(Business Management))--University of the Free State, 2023
Keywords
Chat banking, mobile banking, perceived risk, behavioural reasoning theory, cross-channel marketing, electronic banking