Abstract
This concept paper aims to conceptualize internet banking adoption in the Sri Lankan context with special reference to Undergraduates. Even though the rapid spread of technology has made the internet the best channel to provide banking services, it is explored in many studies that the internet adoption rate in Sri Lanka is at an inadequate level. This paper primarily focusses on millennial internet banking consumption, which is intended to study through a sample of Undergraduates in Sri Lanka. Although there are numerous studies carried out by different researchers on the internet banking context, the attention given to millennial internet banking behavior is insufficient. The review is based on the theoretical rationale based on the extension to Unified Theory of Acceptance and Use of Technology (UTAUT2), which mainly incorporates purchasing determinants (performance expectancy, effort expectancy, social influence, price value, habit, and facility conditions) and supportive empirical findings. A descriptive statistical review shows why Sri Lanka is considered a context to be examined while empirical evidence supports the arguments. The paper concludes with research propositions to examine factors that influence the adoption of internet banking.
Highlights
The definition of online banking varies among researchers partially because online banking refers to several types of service through which bank customers can request information and carry out most retail banking services via computer, telephone, or mobile phone
Normal banking services covered under online banking is Automated Teller Machines, Credit Cards, Debit Cards, Smart Cards, Electronic Funds Transfer System, Cheques Transaction Payment System, Mobile Banking, Internet Banking, and Telephone Banking. (Madumanthi & Nawaz, 2016)
Some areas related to this research need to be investigated and explored further. (Madumanthi & Nawaz, 2016) the researcher will employ the UTAUT2 model to carry out the current study (Venkatesh, Thong, & Xu, 2012) detected three key constructs that describe the consumer's behavior in the use of technology and the factors included in the UTAUT model: hedonic motivation, price value, and habit
Summary
Online banking is a modern delivery channel for banking services. The definition of online banking varies among researchers partially because online banking refers to several types of service through which bank customers can request information and carry out most retail banking services via computer, telephone, or mobile phone. Today state banks and private banks used online banking services in a wider range (Jayasiri, 2008) They offer Online banking, Mobile Banking, E-Statements, Bill payments to provide convenient ways for customers to access bank services & facilities. Almost all banks, financial institutes, and service providers provide this facility as a delivery channel to their customers for better provision of their services These institutes' adoptions vary in scale from very sophisticated applications to simple platforms where only a limited transaction level can be executed. Commercial banks in Sri Lanka use internet banking as a competitive advantage among various other competitive tools to attract a worthwhile customer base and provide better service for the acquired customers. It is pivotal to identify factors affecting customer adaptation to internet banking
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
