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Modeling Millennials’ Adoption Intentions of E-banking: Extending UTAUT with Perceived Risk and Trust

Author

Listed:
  • Akansha Mer
  • Amarpreet Singh Virdi

Abstract

The rationale of this research is to analyse and observe the factors that persuade millennials’ acceptance, adoption and usage of e-banking services in the banking industry in India. This research used primary data gathered from millennials in India. The sampling technique used is judgment sampling. Statistical analysis is conducted using structural equation modeling. The study’s findings indicate that effort expectancy, trust, social influence, performance expectancy and perceived risk are the factors that impinge on millennials’ behavioural intention of e-banking. The study suggests that effort expectancy, trust, social influence and performance expectancy posit a positive association with the e-banking behavioural intention of millennials in India. On the contrary, perceived risk is in a negative association with the e-banking behavioural intention of the millennials. The study makes a novel contribution to the literature with reference to India, being a pioneer attempt to investigate the factors that affect e-banking acceptance by millennials in Indian banks by extending UTAUT with perceived risk and trust. The present study contributes to the literature on e-banking adoption in India by highlighting that trust plays a crucial role in Indian millennials’ intention to adopt e-banking technology in high-power distance country like India.

Suggested Citation

  • Akansha Mer & Amarpreet Singh Virdi, 2023. "Modeling Millennials’ Adoption Intentions of E-banking: Extending UTAUT with Perceived Risk and Trust," FIIB Business Review, , vol. 12(4), pages 425-438, December.
    • Handle: RePEc:sae:fbbsrw:v:12:y:2023:i:4:p:425-438
    DOI: 10.1177/23197145211052614
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    References listed on IDEAS

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    Cited by:

    1. Crispin Jean Chris MUKAMBA BYAMUNGU, 2024. "Analysis of e-banking use by commercial bank customers in Bukavu, DRC," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 15(2), pages 2-18, December.
    2. Isaac Kofi Mensah & Muhammad Khalil Khan, 2024. "Unified Theory of Acceptance and Use of Technology (UTAUT) Model: Factors Influencing Mobile Banking Services’ Adoption in China," SAGE Open, , vol. 14(1), pages 21582440241, March.
    3. Taiane Keila Matheis & Eliete dos Reis Lehnhart & Ana Carolina Constante Costa & Julia Tontini & Kelmara Mendes Vieira, 2026. "Analysis of the determinants of behavioral intention to use digital financial channels: user perspectives," Future Business Journal, Springer, vol. 12(1), pages 1-11, December.

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