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Customers’ Intentions to Switch to Internet-Only Banks: Perspective of the Push-Pull-Mooring Model

Author

Listed:
  • Cheolho Yoon

    (Department of Business Administration, Mokpo National University, Cheonggye 58554, Korea)

  • Dongsup Lim

    (LINC+ Project Team, Mokpo National University, Cheonggye 58554, Korea)

Abstract

The advent of fintech is blowing a new wind into the financial industry. New business models have been created and consumers’ access to financial services is higher than ever. Internet-only banks based on advanced information technologies have emerged as a leader in the fintech industry, and these banks are fiercely competing with large banks using internet banking as a weapon to attract new customers. The purpose of this study is to explore the factors that influence customers’ intention to switch to internet-only banking services from traditional internet banking services in Korea. To this end, a research model was developed based on the push-pull-mooring model (PPM), which is a migration theory. The research model was analyzed using partial least squares structural equation modeling (PLS-SEM). The findings will provide the practitioners of the new internet-only bank with strategic guidance for attracting new customers and help practitioners of traditional banks to retain current customers.

Suggested Citation

  • Cheolho Yoon & Dongsup Lim, 2021. "Customers’ Intentions to Switch to Internet-Only Banks: Perspective of the Push-Pull-Mooring Model," Sustainability, MDPI, vol. 13(14), pages 1-20, July.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:14:p:8062-:d:597196
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    References listed on IDEAS

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    Cited by:

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