Abstract
This body of research aims to identify the relationship between elements of the Unified Theory of Acceptance and Use of Technology (UTAUT), the behavioral intention to use technology and the actual consumption of it among users in the Colombian banking sector. A factorial analysis and a structural equation model were used to analyze the impact of performance expectancy, effort expectancy, social influence and facilitating conditions on behavioral intention and the actual consumption of technology in a sample of 556 consumers from the Colombian banking sector. The results suggest that effort expectancy and facilitating conditions predict behavioral intention and actual use of technology in the studied population, whereas social influence and performance expectancy do not. In conclusion, financial entities are advised to understand consumer behavior to maintain relevant, competitive, and profitable relationships with their clients in a dynamic financial environment.
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