Sử dụng internet banking ở Việt Nam nhìn từ góc độ người tiêu dùng

Nội dung text: Sử dụng internet banking ở Việt Nam nhìn từ góc độ người tiêu dùng

1. INTERNET BANKING ADOPTION IN VIETNAM: THE CONSUMERS’ PERSPECTIVE SỬ DỤNG INTERNET BANKING Ở VIỆT NAM NHÌN TỪ GÓC ĐỘ NGƯỜI TIÊU DÙNG Chiachi Tsan Nguyen Thi Huyen Ngan Lunghwa University of Science and Technology, Taiwan Abstract In recent years, it has been observed that electronic technology has played a major role in various industries, including the financial services industry. This phenomenon is also prevalent in developing countries. The objective of this study aims to examine the critical variables that can lead to a better acceptance of Internet banking service and give recommendations to practitioners in order to promote Internet banking service in Vietnam. Six factors affecting Internet banking adoption in Vietnam, including perceived usefulness, perceived ease of use, government support, trust, privacy, and security, were identified. 280 survey questionnaires were distributed to respondents and 210 valid samples were collected and used for further analysis. The results showed that perceived usefulness, perceived ease of use, trust, privacy and security had positive impact on intention to use Internet banking in Vietnam. Government support, in contrast, was found to be not statistically significant in this study. This study demonstrateda deeperunderstanding about Internet banking adoption in Vietnam. This study also extended original Technology Acceptance Model (TAM) by adding other factors to make the model more suitable for special scenario in a developing like Vietnam. In addition to the theoretical implication, this study also provided some guidance for bank managers in improvement Internet banking services. Banks should focus more on creating the sense of trust among customers and enhancing more on the security of the system. Moreover, practitioners are advised to create sense of usefulness and simplify interface and task on their website. Additionally, banks should also improve privacy and security to enhance customer’s trust in the sensitive environment of Internet banking. Keywords: Internet banking, TAM, government support, trust, privacy, security, Vietnam. Tóm tắt Quan sát cho thấy trong những năm gần đây công nghệ thông tin đóng vai trò ngày càng quan trọng trong nhiều ngành công nghiệp, bao gồm cả ngành dịch vụ tài chính. Hiện tượng này diễn ra ở nhiều quốc gia đang phát triển. Nghiên cứu này nhằm mục tiêu xem xét các biến số chủ chốt góp phần giúp dịch vụ Internet banking được đón nhận rộng rãi hơn và đưa ra một số khuyến nghị đối với những người thực hiện nhằm phát triển dịch vụ Internet banking ở Việt Nam. Có 6 nhân tố ảnh hưởng đến sự đón nhận dịch vụ Internet banking ở Việt Nam, bao gồm mức độ hữu ích được cảm nhận, mức độ dễ sử dụng được cảm nhận, sự hỗ trợ từ chính phủ, sự tin tưởng, tính riêng tư và an ninh. 57
2. Một khảo sát đã được tiến hành với 280 bảng hỏi được phát ra, có 210 bảng hỏi được thu về đạt điều kiện để được tiếp tục phân tích. Kết quả cho thấy mức độ hữu ích được cảm nhận, mức độ dễ sử dụng được cảm nhận, sự tin tưởng, tính riêng tư và an ninh có tác động tích cực tới ý định sử dụng dịch vụ Internet banking ở Việt Nam. Trong khi đó sự hỗ trợ của chính phủ không có ý nghĩa thống kê trong nghiên cứu này. Nghiên cứu tìm hiểu sâu hơn về mức độ chấp nhận sử dụng dịch vụ Internet banking ở Việt Nam. Nghiên cứu phát triển mô hình chấp nhận công nghệ (TAM) ban đầu bằng cách thêm các nhân tố khác nhằm giúp mô hình này trở nên phù hợp hơn với các điều kiện đặc biệt trong một quốc gia đang phát triển như Việt Nam. Ngoài các hàm ý lý thuyết, nghiên cứu cũng cung cấp một số định hướng cho các nhà quản trị ngân hàng trong việc cải thiện dịch vụ Internet banking. Các ngân hàng cần tập trung vào việc tạo dựng lòng tin cho khách hàng, nâng cao mức độ an ninh của hệ thống. Bên cạnh đó, các đơn vị triển khai dịch vụ cũng nên tạo ra cảm nhận về mức độ hữu ích và đơn giản hoá các giao diện và thao tác trên website của mình. Ngoài ra, các nhân hàng cũng cần nâng cao tính riêng tư và an ninh để củng cố lòng tin của khách hàng trong môi trường kinh doanh nhạy cảm của dịch vụ Internet banking. Từ khoá: Internet banking, TAM, hỗ trợ của chính phủ, lòng tin, tính riêng tư, an ninh, Việt nam 1. Introduction Internet banking has been seen in recent years being employed by banks worldwide to reduce costs, increase efficiency in transactions, and provide better service to customers (Shih and Fang, 2004). Based on the revolution in the financial services and the advancement of Internet, banks have gradually changed the traditional way of communicating with customers by a convenient and modern method. This has given the green light to give birth to a new banking service, called internet banking services (IB) to help human life become much easier. It allows those who have no time to deal with effectively their financial activities at anywhere or anytime with the reasonable cost (Rana and Pandy, 2015). IB also enables customers to attend in a huge list of traditional services like paying bills, checking account information, creating a new account or transferring money among different accounts through The Internet as an intermediary distribution channel. (Tan and Teo, 2000). IB is not too new in Vietnam banking environment. Prior studies usually focus on investigating technological development. Although there are prior literatures that studied the intention of IB, many of these studies have tended to focus on more more advanced economic entities in European or America (Pikkarainen et al., 2004). However, Vietnam's economy is still expanding in recent years, thus, the intention of IB is still in its infancy as compared to other developed nations. There is a need to conduct further research to have a deeper understanding of specific factors, motivation, demand and expectations of IB users of doing transactions compared with traditional banking. Intention to use IB will be analyzed by surveying and investigating the reasons behind the use of IB. Such researchescan be seen as a reference source for orientation in IB in Vietnam. Therefore, the 58
3. primary objective of the research is to examine which of the identifiable variables can lead to a better acceptance of IB service and to give recommendations and suggestions to the related organizations on how to provide better acceptance of IB service in Vietnam. 2. Literature review 2.1. Internet Banking IB was defined as the use of banking services through the computer network (the Internet), offering a wider range of potential benefits to financial institutions due to more accessibility and user-friendly use of the technology (Yiu et al., 2007). Under the view of Nasri (2011), IB is seen as an electronic connection between banks and customers aimed at preparing, managing, and controlling numerous financial transactions. IB is an attracted topic with evidence is that many previous researches focused on it with different approaches. Although IB intention studies have been conducted in many developed countries, studies for a developing and fast growing country such as Vietnam remain limited. Therefore, this study attempts to investigate the factors that can influence users’ acceptance of IB in Vietnam. 2.2. Technology Acceptance Model (TAM) TAM has formed the foundation of many studies of information systems (Ha and Stoel, 2009). Although TAM was designed to predict user intention of information technology applications in the organizational workplace (Hong et al., 2006), researchers have modified the original model to explain electronic commerce acceptance (Green and Pearson, 2011). TAM, as proposed by Davis (1989), explained the relationship between beliefs (perceived usefulness and perceived ease of use) and users’ attitude, intentions and actual usage of the system. TAM is widely used to predict the level of user acceptance and usage, based on the relationship between information technology acceptance and its impact on individual users. Various research states that TAM itself is insufficient to explain users’ decisions to adopt technologies. For instance, Li (2013) conducted a study about IB in Taiwan, using TAM and added one more variable i.e. risk perceptions. In Malaysia, Khalil et al (2010) have studied the intention of using online banking, and utilized TAM and considered the cultural traits for both Malay and Chinese. Based on existing studies, this study will use TAM as the base model and will extend the model by including other variables important for the studies of internet banking intention in Vietnam. 2.3. Perceived Usefulness (PU) PU is a significant factor affecting acceptance of an information system (Davis et al., 1989). The importance of PU has been widely recognized in the field of IB (Guriting and Ndubisi, 2006; Jaruwachirathanakul and Fink, 2005; Laforet and Li, 2005). Many researchers have empirically proven that PU exerts a significant and positive effect on attitude towards using information technology or associated systems (Venkatesh and Bala, 2008; Jahangir and Begum, 2008; Chong et al., 2010). Gounaris and Koritos (2008) compared various models in their study of the drivers of IB intention decision. Jaruwachirathanakul and Fink, 2005 conducted a study in Thailand, which like Vietnam, is 59
4. a country in Southeast Asia and being a fast growing developing nation, also found that PU is able to encourage the intention of online banking for Thai consumers. Therefore, based on the literature, this study hypothesizes that: H1. Perceived usefulness will have the positive effect on consumer acceptance of IB. 2.4 Perceived ease of use (PEOU) Like PU, PEOU is derived from TAM. As such Davis (1989) stated PEOU as "the degree to which a person believes that using a particular system would be free of effort” which is an imminent acceptance driver of new technology-based applications. PEOU is the factor that contributed to the acceptance of the IB services among customers and as well as with other factors such as enjoyment, information on IB and quality of the internet connection (Pikkarainen et al., 2004). Thus, PEOU has the positive impact towards IB services (Jalal et al.,2011). Several previous studies also have used PU and PEOU in their models and investigated the relation with the use of IB. They found that both of these factors are significant influences on use of IB (Alsajjan and Dennis, 2010); specifically, both PU and PEOU have positive and direct effects on IB use. Extensive research provides evidence of the significant effect of PEOU on usage intention, either directly or indirectly (Mauro and Mazzon, 2007; Guriting and Ndubisi, 2006; Eriksson, 2005). Hoang (2003) indicated, Vietnamese users have little experience in using the internet and therefore, the ease of use of the online banking website might influence their intention. Thus, the second hypothesis is proposed as: H2. Perceived ease of use will have the positive effect on consumer acceptance use IB. 2.5. Government support Walker (2006) also suggested that the government can play an intervention and leadership role in the diffusion of innovation. The government’s regulations and procedures aids in improving the users’ confidence and trust in the usage of IB (Guriting and Ndubisi, 2006). In Singapore, it has been well documented that the local government is a major driving force in the diffusion of information technology (Kamal, 2006). In Thailand, the government is also important in the development of electronic commerce and major driving mechanism in IB intention (Hamid et al., 2007). A study conducted by Chong et al (2010) in Vietnam found out that a government's support in connection with consumer intention to use online banking is highly essential. As Hoang (2003) also pointed out, the government still needs to work on certain areas to improve the e-commerce intention in Vietnam. For example, there is a lack of supporting laws or regulations to support e-commerce. From above evidence, this study will include and hypothesize that: H3. Government support will have positive effect on consumer acceptance use IB 2.6. Trust Trust is likely to play a significant role in developing and maintaining successful relationships in the financial services sector because many of the products are complex and there is physical separation between the bank advisor and the consumer (Grabner-Kräuter and Faullant, 2008). Trust in general is an important factor in many social interactions, involving uncertainty and dependency, trust is even more important in an online situation. 60
5. (Roca et al., 2009; Nasri, 2011). A key reason for focusing on the importance of trust in IB, in particular, is the fact that in a virtual environment the level of risk in an economic transaction is higher than it is in traditional setting. Many studies investiaged the role of trust in IB. Lichtenstein and Williamson (2006) found that trust plays a very important role in the intention and continued use of IB. Datta (2010) proved that customers always fear to disclose their privacy and financial information on the internet, because of the security problem and distrust of IB providers. Thus, trust has a significant effect on the customer intention of using IB services. In consequence, a hypothesis was formulated as below: H4. The trust will have the positive effect on consumer acceptance use IB. 2.7. Security and Privacy Privacy as the individual’s right to be alone and he consider several dimensions of privacy of the individual’s body, behavior, communications and personal data (Weitzner, 2008). In term of IB, privacy can be defined as the claim of individuals, groups, or institutions to determine when, and to what extent, information about them is communicated to others (Ioinson and Paine, 2007). Giovanis et al, 2012 presented the relationship between privacy and IB usage of customers. Nasri and Charfeddine (2012) also proposed that privacy is one of the main factors that having an affect on using of IB. Security of transactions over the internet is a burning issue and it is an important factor that customers consider before adopting IB. Security has been widely recognized as one of the most significant barriers to the intention of IB (Chang and Chen, 2009). The security and privacy have a significant effect on online banking context (Casalo et al., 2007). Consumers are more and more concerned about security and privacy issues which have made many consumers unwilling to give private information when there are security issues (Jahangir and Begum, 2008; Roca, 2009). According to Chen and Barens (2007), lack of security and privacy was a significant hurdle when adopting IB. It was further explored the customer has a strong belief on banks but they are not confident about technology. Hence, this study hypothesizesthat: H5. Privacy will have the positive effect on consumer acceptance use IB. H6. Security will have the positive effect on consumer acceptance use IB. And based on the above discussion, the research model is proposed belowas is shown inFigure 1. 61
6. Figure 1. The research model 3. Methodology 3.1. Sampling and data collection A survey instrument was developed for testing six hypotheses in this study. In order to ensure the content validity of the scale used, question items in the questionnaire were adapted from prior empirical studies and were modified to fit into the context of IB in Vietnam. The target population for this study is Vietnamese bank customers. The surveys for this study were distributed at banks located in Quy Nhon in Vietnam. Questionnaire was given to the customers who entered the bank and verified if these customers are users of IB services. A total of 280 respondents participated in the survey. 70 samples were eliminated due to missing data system errors. Only 210 samples were usable given a response rate of 75 %. 3.2 Variable measurement 3.3.1. Independent variable A total of 17 items were developed to capture the six intention factors. Each question was measured by five-point Likert scale. For instance, “1” denotes as strongly disagree, “2” denotes as disagree, “3” denotes as neutral, “4” denotes as agree and “5” denotes as strongly agree. 3.3.2. Dependent variable: consumer intention to use IB The intention for the consumer to use IB was measured using items adapted from the original TAM (Davis, 1989). In this study, some of the items for intention to use in the questionnaire were also consistent with that of Davis (1989), Jaruwachirathanakul and Fink (2005), Pikkarainen et al. (2004), Tan and Teo (2000). The consumer intention to use was measured using five-point Likert scale where 1 = strongly disagree, 2 = disagree, 3 = neutral, 4 = agree and 5 = strongly agree. Four items were used to capture the intention to use IB. 62
7. 3.3 Statistical analysis The collected data would be coded and further analyzed utilizing SPSS. The analysis methods used include descriptive statistic analysis, reliability test, factor analysis, and multiple regression analysis to test the aforementioned hypotheses. 4. Research findings 4.1. Demographic In the survey, the gender distribution of the respondents is 45.7 % males and 54.3 % females. The results also indicate that the respondents are relatively young, with 60 % between 21 and 30 years old. The majority of the respondents have college or higher education level: 55 % are bachelor degree holders, 22.9 % have the master degree of education, 8.6 % holds doctor degree or higher. A total 12.9 % of the respondents have only high school qualification. In revenue terms, there are 37 people who have monthly average income below 2 million VND, make up for 17.6 %. The proportion of group which has average income from more than 2 million to 5 million hits the highest rate, 40.5 % after that is a group of average from more than 5 million to below 15 million with the rate of 32.4 %. 9.5 % is the percentage for those who have income more than 15 million per month. 4.2.Scale reliabilityand factor analysis The Cronbach’s alpha was calculated to test the reliability of the questionnaire. The Cronbach’s alpha coefficient of 17 items is 0.912. Hair et al. (1998) presented the minimum requirement of Cronbach’s alpha coefficient is 0.7. These mean that the measurement of this study was acceptable in reliability and the questionnaire has a high internal consistency. The results of factor analysis in this study were shown in table 1 and 2. 17 items were classified into six factors with Eigenvalue greater than 1 and Varimax rotation method, with the accumulation percentage of explained variance being 76.02%. Moreover, the appropriateness of factor analysis was determined by the Kaiser-Meyer-Olkin (KMO) value was 0.67, which is larger than the threshold of 0.5, and the value of Bartlett’s test was 0.000. These result showed that KMO value and the value of Bartlett’s test are significant. Table 1. Factor analysis of this study Number of Bartlett’s Number of Accumulation percentage components KMO Test items of explained variance (%) extracted Sig. 17 76.02 6 0.67 0.000 63
8. Table 2. Rotated Component Matrix Factor Question items Factor loading Security Website has mechanisms to ensure safe transmission of .849 information .843 I am not worried about the security of an internet banking .839 Website has capacity to ensure data not modified by third party .837 Website has capacity to ensure data not intercepted by hackers Privacy I feel safe when I send personal information to bank’s website .908 Website only collects user personal data necessary for its .894 activity .832 Website does not send email advertising without the user’s agreement Perceived Easy for me to remember how to perform task with internet .864 Ease of Use banking .861 My interaction with internet banking is clear and .796 understandable Learning to use internet banking is easy for me Trust I trust payment through internet banking will be processed .840 securely .815 I trust transaction conducted through internet banking is private .768 I believe my personal data on internet banking will be kept confidential Perceived Internet banking made communications with banks much easier .885 Usefulness Internet banking makes it easier for me to conduct my banking .827 transactions Government The government has good laws and regulations for internet .886 support banking .882 Government encourages and promotes the usage of Internet banking 3.4.3. Multiple regression analysis Multiple regression analysis was conducted to examine the relationship between factors for IB and consumer intention to use online banking. It is a constructive statistical technique that can be used to analyze the associations between a set of independent variables and a single dependent variable (Hair et al., 2005). Testing based on VIF shows that the VIF values for all the variables are less than ten thus further supporting that there are no multicollinearity issues in this study (Hair et al., 2005; Chong and Ooi, 2008). Based on this method, the five main independent variables (adoption factor for IB) namely, PU, PEOU, government support, trust, privacy and security, dependent variables (Consumer intention to use IB) were entered together. The detail of the regression output was shown in Table 2. 64
9. According to Cohen (1990), as cited by Jitpaiboon and Rao (2007), R square ranges from 1.0 percent to 5.9 percent is considered as small, between 5.9 percent to 13.8 percent is medium and above 13.8 percent is large. From the table below, it can be observed that the R square was .663, representing that 66.3 percent of intention to use IB can be explained by the five independent variables. Thus the effect size for this study is large. This indicates that the overall model was reasonable fit and there was a statistically significant relationship between adoption factors for IB and consumer’s intention to use IB. The individual model variables reveals that PU, (β = .159, p = .01), PEOU (β = .245, p = .00), TR (β = .567, p = .00), PR (β = .095, p = .025), SE (β= .292, p = .00) were found to have a significant and positive relationship with consumer intention to use IB. Therefore, the hypotheses H1, H2, H4, H5, and H6 were supported. Because GS with high significant value (p=.392), H3 was not supported. The result is shown in Table 3. Table 3. Regression model Coefficientsa Unstandardized Standardized Collinearity Coefficients Coefficients Statistics Model t Sig. Std. B Beta Tolerance VIF Error (Constant) .325 .236 1.378 .170 M_SE .227 .034 .292 6.733 .000 .875 1.143 M_PR .055 .024 .095 2.261 .025 .937 1.067 M_PEOU .165 .028 .245 5.956 .000 .979 1.022 M_TR .402 .032 .567 12.667 .000 .824 1.213 M_PU .086 .026 .159 3.356 .001 .731 1.369 M_GS .021 .024 .035 .857 .392 .974 1.026 R Square=0.665, Adjusted R Square=0.655 4. Discussion This paper research has empirically validated the proposed research model. All the hypotheses regarding the relationship between the variables are developed and tested by using reliability test and multiple linear regressions. In general, the results partially supported most of the developed hypothesized relationships. The significant effect influencing intention to use the IB from PU, PEOU, trust, privacy and security are observed. However, we found that the hypothesis of government support is not supported. Perceived usefulness H1 was totally supported. As mentioned before, PU can be seen as a significant factor which affects on intention to use IB. This has been proved not only in TAM model but also in a bundle of research (Wang et al., 2003, Fink, 2005, Giovanis et al., 2012). People accept to use something in IB or any other technology when they find the usefulness in using them. 65
10. Perceived ease of use H2 was supported in use IB in Vietnam. That matches with findings from original TAM model as well as expanded TAM (David, 1989, Aldas-Manzano et al, 2008). However, this is not the same as the outcome which Chong et al., 2010 surveyed in Vietnam before. This unexpected result is probably because of the difference location in the survey. It also comes from more complicated change in IB interface when more new IB services have appeared. Government support H3 was not supported. This unexpected result contradicts with the research findings by Tan and Teo (2000), Jaruwachirathanakul and Fink (2005), and Chong et al., (2008). Firstly, it might be because the investment of Internet infrastructure by Vietnamese government still has some room for further improvement. Compare with countries where IB has developed, the infrastructure of the Internet in Vietnam is still relatively weak, bandwidth is narrow, capacity and speed is slow in comparison with developed countries. These might contribute to the reason Trust H4 was supported. This is consistent with the result from Hamid et al,2007 and Grabner-Krauter and Faullant (2008). In Vietnam, the number of people using IB is not high because they are firstly familiar with cash, plus the psychological apprehension when dealing without a document or wrong manipulate. They also fear about losing personal information when bank system has problems. Therefore, it is no doubt that trust is a “heart of the system” of IB (Hamid et al, 2007) and every bank wants to get trust from customers because without trust means without any conducted transaction. Privacy H5 was supported. Ranganathan and Ganapathy (2002) and Lian and Lin (2008) also give the same result with this study. Some customers really would like to know the reason why banks collect their information and whether or not it is shared with other parties. Hence, if banks cannot keep customers’ information in privacy, it is so dangerous for them as well as losing customers’ trust. Two items which have a high factor loading in a group of privacy related to keeping personal information. Security H6 was supported. In the path to built trust from customers, not only privacy but also security is indispensable. From regression result, security is evaluated as the second important factor. This totally coincides with research of Tan and Teo (2000) Koufaris and Hampton-Sosa (2004). In Vietnam, more and more banks have deployed IB services and it easily to recognize their efforts in enhancing security system to protect customers’ right. 5. Managerial implication This study presents both theoretical and practical contributions. The model developed in this study represents an important improvement for TAM by adding four factors, government support, trust, privacy and security and three factors proved that having a positive effect on intention to use IB (only except government support). This 66
11. model is tested empirically to explain the intention to use IB in Vietnam. It gives a better understanding of the factors contributing to the IB success, especially for a developing country such as Vietnam. Similar research on IB in particular or others internet services in general can apply this model. Lastly, this study is conducted to present main factors that affect on intention to use IB, give some suggestions for banking success and help to complete more about IB literature in Vietnam. Apart from theoretical values, the results of the study will benefit the bank managers. Firstly, the banks should promote the usefulness that IB when compared to traditional ways of banking. It really needs to have surveys to determine which features are useful to the Vietnamese customers, and design their online banking systems based on this, and actively promote them. Secondly, for “perceived ease of use” factor, proposed recommendations to the banks is to focus on designing friendly and clear display with simple operation for customers. Besides, bank terminology is simplified, avoiding the academic and misunderstanding. Lastly, banks should make survey regularly to receive feedbacks and suggestions from customers to adjust and improve interface and tasks. Thirdly, for “trust” factor, besides above suggestions to improve usefulness and ease of use of IB, it is really necessary to enhance customers’ trust by conducting some strategies like privacy guarantee or upgrading security system. Banks should cooperate with security companies to get the best security technology. Moreover, banks can create a good image through charity or social activities. This is a way to make a great impression on the customer, lead to increase trust. Next is “privacy” factor, banks have to build suitable privacy policy with clearly and understandable rules about collecting personal information/use personal information/protect personal information policy. Next, bank staffs need to be educated to keep their customers’ information, can not disclose anywise without customers’ agreement or requirement by law in special cases. Many banks often send an advertisement to customers’ email, this makes them annoying. So, banks should pay attention to this problem, they only send necessary advertisement when really need to avoid bothering their customers. Lastly is “security” factor. Banks should connect with Network Security Division regularly cooperation between bank and network security software companies is necessary because banks can own the best and newest edition to make their service much better. Firewall systems, data encryption, virus protection and security monitoring system should focus seriously and fully to detect and prevent any form of illegal activity on the network. Banks should regularly assess security on the system by the internal audit system as well as the independent security experts. 5. Conclusion This study is conducted in Vietnam with the purpose to explore the factors that influence consumers’ intention to use IB and give some suggestions for the IB practitioners 67
12. in Vietnam. The proposed model includes six factors, in which two factors from TAM model and four other added factors including perceived usefulness, perceived ease of use, government support, trust, privacy, and security. Qualitative analytical methodswere used to discover the factor structure from theconsumers’ perspective and investigate the relationship among these factors and the intention of adoption of Internet Banking services in Vietnam. 280 questionnaires were distributed at banks in Quy Nhon City, and 210 valid ones were analyzed after filling and eliminating missing data. Data set includes respondents in different age period, occupation and education level. Factor analysis and multiple regressionare analyzed by using SPSS. It is identified that five factors out of six extracted factors are significant predictors of intention of using internet banking services. The result can be of help for bank practitioners to understand further the customers’ need, and hence pinpoint areas where banks can do more in order to encourage customers to make use the internet banking. REFERENCES 1. Alsajjan, B., and Dennis, C. (2010). Internet banking acceptance model: Cross-market examination. Journal of Business Research, 63(9), 957-963. 2. Carlos Roca, J., José García, J., and José de la Vega, J. (2009). The importance of perceived trust, security and privacy in online trading systems. Information Management and Computer Security, 17(2), 96-113 3. Casalo, L. V., Flavián, C., and Guinalíu, M. (2007). The influence of satisfaction, perceived reputation and trust on a consumer's commitment to a website. Journal of Marketing Communications, 13(1), 1-17. 4. Chang, H. H., and Chen, S. W. (2009). Consumer perception of interface quality, security, and loyalty in electronic commerce. Information and management, 46(7), 411-417. 5. Chen, Y. H., and Barnes, S. (2007). Initial trust and online buyer behaviour.Industrial management and data systems, 107(1), 21-36. 6. Chong, A.Y. and Ooi, K.B. (2008), “Adoption of interorganizational system standards in supply chains: an empirical analysis of RosettaNet standards”, Industrial Management and Data Systems, Vol. 108 No. 4, pp. 529-47. 7. Datta, S. K. (2010). Acceptance of e-banking among adult customers: an empirical investigation in India. Journal of internet Banking and Commerce,15(2), 1 8. Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS quarterly, 319-340. 9. Eriksson, K., Kerem, K., and Nilsson, D. (2005). Customer acceptance of internet banking in Estonia. International Journal of Bank Marketing, 23(2), 200-216 10. Giovanis, A. N., Binioris, S., and Polychronopoulos, G. (2012). An extension of TAM model with IDT and security/privacy risk in the adoption of internet banking services in Greece. EuroMed Journal of Business, 7(1), 24-53. 68
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