Older Adults And Technology Adoption: Investigating The Use Of Online Banking Among The Seniors In Nairobi County
Gathongo, Teresa W.
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The overall global diffusion of technology into many domains of banking and financial services has accelerated the shift from traditional banking methods to more ICT-based such as Online Banking. Convenience and efficiency are the main motivating factors to using online banking from a customer’s point of view. However, recent studies have concluded that many customers do not have sufficient awareness about Internet banking and also mostly people do not trust these internet banking services for carrying out their business transactions. A cohort where high percentages of this kind of people occur appears to be the older adults, who are defined in the study as people with 55 years and above. The present study aimed to explain Internet banking use among the older adults, by applying the STAM approach (Senior Technology Acceptance and Adoption Model). The scope of the research was Nairobi county citizens aged above 55 years who held an account with any of the commercial banks in Kenya. A sample size of 236 individuals was used. Questionnaires were distributed to customers either inside banking halls or while entering in various bank branches. Data collected was later analysed using SPSS software where various data analysis techniques including Descriptive statistics and Multiple Regression Analysis were employed. Results revealed that only 19.1% of the respondents had used IB frequently enough to infer adoption. Further results indicated that seniors’ intention to use internet banking was significantly influenced by perceived self-efficacy, perceived usefulness, trust, technical experience and social influence, in their order of influencing strength. Also, facilitating conditions and ease of learning and use were significant factors that determined their actual use of internet banking. This research attempted to fill the knowledge gap existing regarding factors influencing the adoption of internet banking among seniors in Kenya. The study suggests future research to apply a longitudinal study approach in order to test how the predictive effect of different factors varies across time. Also, the use of probability sampling in identifying the study respondents should be applied. Lastly, the study suggested that further related studies examining adoption of other technology services by their older consumers should be undertaken. This will help in identifying new different factors that may influence the acceptance, use and diffusion of many other different e-services save for the service cited in this study (online banking). Banking institutions can use this knowledge in their quest to increase their senior online banking customers.
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