Understanding older consumers’ usage of self-service banking technologies: test of two models

McPhail, Janelle, Fogarty, Gerard, and Walker, Rhett H. (2003) Understanding older consumers’ usage of self-service banking technologies: test of two models. In: Proceedings of the Australian and New Zealand Marketing Academy (ANZMAC) Conference 2003. pp. 2230-2237. From: Australian and New Zealand Marketing Academy (ANZMAC) Conference 2003, 1-3 December 2003, Adelaide, SA, Australia.

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Self-service technologies play a major role in enabling consumers to perform service delivery themselves. This requires consumers adopting this service delivery process to modify their behaviour, however some consumers may resist change. Evidence of this is particularly strong in older consumers (plus 50 years of age) where their usage of self-service banking technologies (SSBT’s) is considerably lower than for younger consumers. This paper specifically explores the beliefs, attitudes, intentions and usage behaviour of SSBT’s by older consumers through the comparison of the suitability, fit and explanatory power of two existing models, namely the Theory of Planned Behaviour (TPB) (Ajzen 1991) and Technology Acceptance Model (TAM) (Davis, Bagozzi & Warshaw 1989). Survey methodology approach using a mailed questionnaire to 600 randomly selected respondents resulted in the return of 208 (35%) usable questionnaires. The use of SSBT’s varied across the sample with 19% (40) non-users; 19 % (40) low users (< 50% use); and 62 % (128) moderate to high users (> 60%). The models were tested using AMOS 4.01 (Arbuckle & Wothke 1999), maximum likelihood estimation method. The TAM had a less than acceptable fit resulting in a modified TAM. The Modified TAM when compared with the TPB model had an overall better fit to the data in that all fit statistics were within acceptable limits and similar explanatory power. However, with the addition of two specific belief constructs in the modified TAM, perceived ease of use and perceived usefulness, these constructs provide a richer understanding of the factors that influence attitude (A), behaviour intention (BI) and behaviour (B) of older consumers’ usage of SSBT’s. Further, the failure of the perceived behavioural control pathway to contribute to the explanation of SSBT behaviour in the TPB model effectively gives the advantage to the Modified TAM. It is primarily for these reasons that the Modified TAM is favoured over the TPB model in this study.

Item ID: 272
Item Type: Conference Item (Research - E1)
Keywords: older consumers, self-service banking technologies, theory of planned behaviour, technology acceptance model
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Date Deposited: 11 Sep 2006
FoR Codes: 15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1503 Business and Management > 150399 Business and Management not elsewhere classified @ 34%
15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1504 Commercial Services > 150499 Commercial Services not elsewhere classified @ 33%
15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1505 Marketing > 150503 Marketing Management (incl Strategy and Customer Relations) @ 33%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9104 Management and Productivity > 910403 Marketing @ 100%
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