Factors affecting digital banking services acceptance: An empirical study in Vietnam during the COVID-19 pandemic
Objective: The objective of this article is to examine some factors that affected the acceptance of digital banking services among consumers in Vietnam during the COVID-19 pandemic. Research Design & Methods: A research model was proposed based on the unified theory of accepta...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Cracow University of Economics
2024-03-01
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| Series: | Entrepreneurial Business and Economics Review |
| Subjects: | |
| Online Access: | https://eber.uek.krakow.pl/eber/article/view/2170 |
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| Summary: |
Objective: The objective of this article is to examine some factors that affected the acceptance of digital banking services among consumers in Vietnam during the COVID-19 pandemic.
Research Design & Methods: A research model was proposed based on the unified theory of acceptance and use of technology (UTAUT). Multivariate data analysis techniques were used alongside partial least squares structural equation modelling (PLS-SEM). The survey data were collected from 779 respondents who have been using digital banking services in Vietnam. Those respondents were recruited through convenience sampling.
Findings: The results show that performance expectancy, effort expectancy, social influence, facilitating conditions, trust, and the perceived risk of COVID-19 affect the acceptance of digital banking services. Furthermore, the perceived risk of COVID-19 has the most significant impact on the acceptance of digital banking services, followed by effort expectancy, performance expectancy, social influence, and trust.
Implications & Recommendations: Therefore, banks have to enhance the quality of services as well as improve their advertising to help customers acknowledge the benefits of the financial services in question.
Contribution & Value Added: This study is among few studies that apply the unified theory of acceptance and use of technology (UTAUT) in the Vietnamese context of the banking industry, particularly during the COVID-19 pandemic. Thus, this study fills in the gap of the topic in a developing country context like Vietnam.
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| ISSN: | 2353-8821 |