Title: Application of the UTAUT model toward individual acceptance: emerging trends in artificial intelligence-based banking services

Authors: Preeti Sharma; Sanjay Taneja; Pawan Kumar; Ercan Özen; Amandeep Singh

Addresses: USB-Commerce, Chandigarh University, NH-95 Chandigarh-Ludhiana Highway, Mohali, Punjab, 140413, India ' DOMS, Graphic Era Deemed to be University, Climent Town, Dehradun, Uttarakhand, 248002, India ' USB-Commerce, Chandigarh University, NH-95 Chandigarh-Ludhiana Highway, Mohali, Punjab, 140413, India ' Faculty of Applied Sciences, University of Uşak, 1 Eylul Campus, 64200 Uşak, Turkey ' Chitkara Business School, Chitkara University, Punjab, India

Abstract: In the business world, acceptance of new technologies, in particular internet banking is becoming more crucial. Numerous researches on internet banking have discovered that the opinions and experiences of customers are crucial to the service's effectiveness. To determine factors influencing internet banking adoption, the study may employ the use of technology and unified theory of acceptance anxiety, and security risk. For the data collection, 116 replies were received, and factor analysis was performed using PLS-SEM. The SEM found that roughly 55.66% of the variation in intention of users to use digital banking was explained by predictors. The integrated UTAUT model had the biggest impact on consumers' intents to utilise digital banking. Additionally, use of the UTAUT model can help academics to gain an updated knowledge on ways to encourage internet banking acceptability for clients of public and private banks, thereby assisting in the expansion of internet banking acceptance. In this paper, commercial bank customers offer a fresh viewpoint on technology-based banking services. In order to increase trust of banking clients, the RBI as well as bank officials shall concentrate on technological and factor driving customer satisfaction.

Keywords: UTAUT model; internet/digital banking; anxiety; security risk; PLS-SEM.

DOI: 10.1504/IJEF.2024.139584

International Journal of Electronic Finance, 2024 Vol.13 No.3, pp.352 - 366

Received: 11 Mar 2023
Accepted: 04 Apr 2023
Published online: 04 Jul 2024 *

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