Adoption of electronic banking distribution channels in South Africa: the Unified Theory of Acceptance and use of technology.
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Date
2020
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Abstract
Globally, every industry is on the path of a technological revolution that is radically shaping
how people and organisations relate to the world and to one another. The Fourth Industrial
Revolution’s (4IR) digital technologies are transforming supply chain management from a
linear model to a more integrated model in which information flows in multiple directions.
The invention of e-banking has provided customers with a whole new experience of
banking services. In South Africa, banks have invested heavily in technological solutions.
However, socio-economic complexities and challenges are slowing down the adoption of
e-banking channels. This study examines the key determinants of the adoption and
acceptance of electronic banking through the theoretical constructs of the extended Unified
Theory of Acceptance and Use of Technology model (UTAUT2). The first research
objective of the study was to determine the magnitude of acceptance and utilisation of
downstream electronic banking distribution channels by generation-based clients. The
second objective was to determine the effect of the cultural factor, uncertainty avoidance,
on the use of electronic banking distribution channels. The third objective was to establish
the downstream supply chain customer experience on the underlying impact of facilitating
conditions on electronic banking systems. The penultimate objective was to determine the
degree to which the downstream electronic banking simplicity practice influences usage of
electronic banking distribution channels. The final objective was to develop the integrated
electronic banking model that influences the downstream site generation-based customers.
A self-administered questionnaire was used to collect data in this study where the purposive
and simple random samplings were selected. The study applied a quantitative approach to
a 307 sample size of students doing post-graduate qualifications from three Higher
Education Institutions (HEIs) in Durban. The collected data were analysed using univariate,
bivariate and multivariate methods. The findings revealed that facilitating conditions, effort
expectancy, and social influence are key determinants that explain the users’ adoption and
use of e-banking channels in South Africa. The study also revealed that uncertainty
avoidance influences the use of e-banking channels. The retail banks can use these findings
to further improve their electronic channels feature in the future.
Description
Doctoral Degree. University of KwaZulu-Natal, Durban.