Factors Affecting Technology Adoption in The Mobile Banking Sector in Kenya
Keywords:
UTAUT Model, Performance Expectancy, Effort Expectancy, Social Influence, Facilitating Conditions, Culture, Mobile Banking Services, KenyaAbstract
Banking has grown to be a technology-savvy industry with the development of mobile technologies. With this development, the number of smartphone users globally is steadily increasing and the number is estimated to grow to over 3 billion by 2022. Many people have gradually adopted mobile technology, and smartphones are the most common category of mobile devices in both emerging economies and developed countries. The objective of the present study is to examine the effects of UTAUT model factors in predicting the intention of bank customers to adopt mobile banking services in Kenya. The study adopted a mixed-method approach which involved both quantitative and qualitative research designs. The sample of the study consisted of 240 respondents dawn from three leading commercial banks in Kenya. The questionnaire method was used to collect data which was analyzed using Partial Least Squares-Structural Equation Modeling analysis techniques. The findings of the study indicated that Performance Expectancy, Effort Expectancy, Social Influence, Facilitating Conditions, and Culture had a significant and positive effect on the adoption of mobile banking services. The study contributed to examining the adoption intention behavior of mobile banking apps among bank customers in Kenya since the context of mobile apps is relatively new to these customers. The main theoretical implication of the study was the application of the UTAUT in explaining the adoption of digital mobile banking services and applications in the banking sector in a developing country like Kenya.
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