The Role of Culture and Trust in Electronic Banking Adoption: A review

Date

2016-08-08

Journal Title

Journal ISSN

Volume Title

Publisher

Department of Computer Science, Nasarawa State University Keffi

Abstract

The reviewed paper offer insights into three critical factors namely: trust, privacy and security that could influence customer’s behavior towards acceptance of e-banking in developing countries within the framework of specific cultural settings. Banks have invested heavily in hardware, software and communications infrastructures with the intent that customers would easily accept, adapt and adopt their electronic banking services. Further, banks increasingly engineer various strategies to win the customer’s acceptance and adoption of the e-banking services. In spite of the measure of benefits that e-banking provides to customers and banks, acceptance and adoption in developed countries have been used to their advantage but the same cannot be said of developing countries who are lagging. The banks’ managers expect that the customers would easily adopt and adapt to the e-banking scheme which is fraught with distrust, insecurity and privacy invasion. However, these approaches have not yielded the expected results as long as the adoption of e-banking is still lagging amongst the banks’ customers most especially in the developing nations. The literature on e-banking and the extent to which the issue of trust, privacy and security could influence consumers’ behavior have not been extensively reviewed. This paper examines a suitable framework for carrying out this review and uses it to document the state of art on the subject matter. Numerous works have researched into various determinants that would enable customers to accept and adopt new technology. With reference to these studies, the review offer insights into the relevant variables which may affect individual’s trust in electronic banking in developing countries within defined cultural settings. The paper provides a robust framework for reviewing various studies in the area of e-banking with the context of how key factors influence the customers’ acceptance of this technological offerings, This framework is demonstrated to document the state of the art on the subject matter.

Description

Keywords

Culture, trust, e-banking adoption, security, privacy

Citation

Aimufua, G.I.O. & Dzidonu C.K. (2016) The Role of Culture and Trust in Electronic Banking Adoption: A review

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