The effect of technology acceptance model and trust on online banking in Zambia

Abstract

The banking industry has been influenced by the evolution of technology and in the process , reduced the cost of transacting and increased the speed of service delivery. This global change has been driven by the development of alternative banking channels from the traditional brick and mortar walls to a utomated teller machines , phone - banking, and now the most recent phenomenon, online banking . The current study, conducted in Lusaka, Zambia investigated the adoption of online banking technology using the Technology Acceptance Model (TAM) with perceived ea se of use, perceived usefulness and trust. T he two constructs perceived ea se of use, perceived usefulness are known to be the most accurate subjective measurement scales for predicting user acceptance . T echnology Acceptance Model (TAM) is the most widely used model and theorizes that if a user fi nds the technology useful , it will influence the user's attitude positively, thereby increasing the intention to use and finally allowing for adoption. In a cross - sectional survey of 478 participants, and using logistic regression, this study found that perceived usefulness , perceived ease of use and trust were positively associated with users' intentions to adopt online banking , and these relationships were statistically significant. The findings from this study provide support for the theoretical model. The study further found no contradicting results, and this provides banks in Zambia with an opportunity to grow online banking as the consumer behaviour indicates a willingness and int ention to adopt the technology. The current study was limited to the urban areas of Lusaka which had a population of 3.2 million . Future research may also investigate the impact of culture on the adopti on of online banking technology .