Jib il, Abdul Bashi u; Pobee, F ede ick; Gochhai , Saika ; Chugh, Ri esh
A icle
B eaking bounda ies: un eiling hu dles in emb acing
in e ne banking se ices in Sub-Saha an A ica
Cogen Economics & Finance
P o ided in Coope a ion wi h:
Taylo & F ancis G oup
Sugges ed Ci a ion: Jib il, Abdul Bashi u; Pobee, F ede ick; Gochhai , Saika ; Chugh, Ri esh (2024) :
B eaking bounda ies: un eiling hu dles in emb acing in e ne banking se ices in Sub-Saha an
A ica, Cogen Economics & Finance, ISSN 2332-2039, Taylo & F ancis, Abingdon, Vol. 12, Iss. 1, pp.
1-23,
h ps://doi.o g/10.1080/23322039.2024.2330436
This Ve sion is a ailable a :
h ps://hdl.handle.ne /10419/321458
S anda d-Nu zungsbedingungen:
Die Dokumen e au EconS o dü en zu eigenen wissenscha lichen
Zwecken und zum P i a geb auch gespeiche und kopie we den.
Sie dü en die Dokumen e nich ü ö en liche ode komme zielle
Zwecke e iel äl igen, ö en lich auss ellen, ö en lich zugänglich
machen, e eiben ode ande wei ig nu zen.
So e n die Ve asse die Dokumen e un e Open-Con en -Lizenzen
(insbesonde e CC-Lizenzen) zu Ve ügung ges ell haben soll en,
gel en abweichend on diesen Nu zungsbedingungen die in de do
genann en Lizenz gewäh en Nu zungs ech e.
Te ms o use:
Documen s in EconS o may be sa ed and copied o you pe sonal
and schola ly pu poses.
You a e no o copy documen s o public o comme cial pu poses, o
exhibi he documen s publicly, o make hem publicly a ailable on he
in e ne , o o dis ibu e o o he wise use he documen s in public.
I he documen s ha e been made a ailable unde an Open Con en
Licence (especially C ea i e Commons Licences), you may exe cise
u he usage igh s as speci ied in he indica ed licence.
h ps://c ea i ecommons.o g/licenses/by/4.0/
Cogen Economics & Finance
ISSN: 2332-2039 (Online) Jou nal homepage: www. and online.com/jou nals/oae 20
B eaking bounda ies: un eiling hu dles in
emb acing in e ne banking se ices in Sub-
Saha an A ica
Abdul Bashi u Jib il, F ede ick Pobee, Saika Gochhai & Ri esh Chugh
To ci e his a icle: Abdul Bashi u Jib il, F ede ick Pobee, Saika Gochhai & Ri esh
Chugh (2024) B eaking bounda ies: un eiling hu dles in emb acing in e ne banking
se ices in Sub-Saha an A ica, Cogen Economics & Finance, 12:1, 2330436, DOI:
10.1080/23322039.2024.2330436
To link o his a icle: h ps://doi.o g/10.1080/23322039.2024.2330436
© 2024 The Au ho (s). Published by In o ma
UK Limi ed, ading as Taylo & F ancis
G oup
Published online: 28 Ma 2024.
Submi you a icle o his jou nal
A icle iews: 1408
View ela ed a icles
View C ossma k da a
Full Te ms & Condi ions o access and use can be ound a
h ps://www. and online.com/ac ion/jou nalIn o ma ion?jou nalCode=oae 20
DEVELOPMENT ECONOMICS | RESEARCH ARTICLE
B eaking bounda ies: un eiling hu dles in emb acing in e ne banking
se ices in Sub-Saha an A ica
Abdul Bashi u Jib il
a
, F ede ick Pobee
b
, Saika Gochhai
c
and Ri esh Chugh
d
a
School o Business and Economics, Wes mins e In e na ional Uni e si y, Tashken , Uzbekis an;
b
Depa men o Business
Adminis a ion, Uni e si y o P o essional S udies (UPSA), Acc a, Ghana;
c
Symbiosis Ins i u e o Digi al and Telecom
Managemen , Cons i uen o Symbiosis In e na ional (Deemed Uni e si y), Pune, India;
d
School o Enginee ing and
Technology, Cen al Queensland Uni e si y, No man Ga dens, Aus alia
ABSTRACT
Despi e he g a i a ion owa d In e ne banking esea ch in he in o ma ion sys ems and
in o ma ion echnology li e a u e, schola s and p ac i ione s, pa icula ly in eme ging and
de eloping coun ies, ha e no ully explo ed he ba ie s a ec ing cus ome s’in en ion
o engage in e-banking ansac ions, pa icula ly om a sub-Saha an pe spec i e. The e is
s ill a conside able gap in he esea ch on how online isk and socio-economic ac o s
in luence cus ome s’in en ion o engage in In e ne banking ac i i ies. To ill his gap, we
ook an online and socio-economic pe spec i e on In e ne banking adop ion in an aspi -
ing o-be IT-enabled economy. Ou s udy adop ed a quan i a i e esea ch app oach.
In e cep su eys we e conduc ed among 672 bank cus ome s in Ghana. Se en hypo he-
ses we e de eloped, and pa ial-leas squa e s uc u al equa ion modelling was used o
es he ela ionship be ween he a iables. Ou indings e ealed ha ea o inancial
loss, ea o epu a ion damage, a oidance mo i a ion, p ice o digi al de ices, pe cei ed
knowledge gap, in as uc u e gap, and pe cei ed inancial cha ge a e signi ican ba ie s
o e-banking adop ion. The no el y o ou esea ch lies in he esea ch amewo k, which
is a unique concep ual model p esen ing online and socio-economic ac o s p e en ing
e-banking adop ion. Theo e ical and p ac ical implica ions a e discussed.
IMPACT STATEMENT
In Sub-Saha an A ica, he bu geoning ield o in e ne banking p omises o e olu ion-
ize inancial se ices, o e ing unp eceden ed con enience and accessibili y. Howe e ,
despi e i s po en ial, he widesp ead adop ion o In e ne banking se ices in he
egion ace signi ican hu dles. This esea ch endea o s o illumina e and dissec hese
obs acles, shedding ligh on he mul i ace ed challenges inhibi ing he emb ace o
in e ne banking among consume s in Sub-Saha an A ica. By del ing in o he in ica-
cies o pe cei ed online isk, and socio-economic ac o s, his s udy aims o p o ide a
comp ehensi e unde s anding o why In e ne banking adop ion a es emain low in
he egion. Th ough igo ous analysis and empi ical e idence, we aim o o e insigh s
ha can in o m policymake s, inancial ins i u ions, and s akeholde s, acili a ing he
de elopmen o a ge ed s a egies o o e come hese ba ie s. Ul ima ely, ou esea ch
seeks o no only iden i y obs acles bu also o p opose ac ionable solu ions ha can
p opel de eloping and eme ging economies owa ds a u u e whe e in e ne banking
se ices a e emb aced as in eg al componen s o he inancial landscape. Hence, by
b eaking bounda ies and un a eling he complexi ies su ounding in e ne banking
adop ion, we s i e o con ibu e o he ad ancemen o inancial inclusion and eco-
nomic de elopmen in he egion and beyond.
ARTICLE HISTORY
Recei ed 21 Janua y 2024
Re ised 27 Feb ua y 2024
Accep ed 10 Ma ch 2024
KEYWORDS
E-banking; a oidance
mo i a ion; pe cei ed
online isk; socio-economic
ac o s; in en ion; In e ne
banking
REVIEWING EDITOR
Goodness Aye, Academic
Edi o , Uni e si y o
Ag icul u e, Maku di Benue
S a e, Nige ia
SUBJECTS
In o ma ion &
Communica ion Technology
(ICT); Managemen o IT;
A i icial In elligence;
Technology; Legal, E hical &
Social Aspec s o IT
JEL CLASSIFICATION
CODES
M10, M15, M21, G41
1. In oduc ion
In e ne banking has de eloped signi ican ly since he incep ion o he In e ne in he 1990s and he
do com bubble, which bus ed in ea ly 2000 (Jim
enez & D
ıaz, 2019). Since hen, con inuous echnological
CONTACT Abdul Bashi u Jib il [email p o ec ed] School o Business and Economics, Wes mins e In e na ional Uni e si y, 12
Is iqbol s ee , 100047, Tashken , Uzbekis an.
This a icle has been co ec ed wi h mino changes. These changes do no impac he academic con en o he a icle.
ß2024 The Au ho (s). Published by In o ma UK Limi ed, ading as Taylo & F ancis G oup
This is an Open Access a icle dis ibu ed unde he e ms o he C ea i e Commons A ibu ion License (h p://c ea i ecommons.o g/licenses/by/4.0/), which
pe mi s un es ic ed use, dis ibu ion, and ep oduc ion in any medium, p o ided he o iginal wo k is p ope ly ci ed. The e ms on which his a icle has been
published allow he pos ing o he Accep ed Manusc ip in a eposi o y by he au ho (s) o wi h hei consen .
COGENT ECONOMICS & FINANCE
2024, VOL. 12, NO. 1, 2330436
h ps://doi.o g/10.1080/23322039.2024.2330436
ad ancemen has dis up ed he inancial ecosys em. Many o ganiza ions, including banking ins i u ions,
ha e le e aged echnology o inc ease consume each. In e ne banking is a s a egy o suppo g een
banking while educing bank ope a ing expenses associa ed wi h adi ional ace- o- ace banking (Zhixia
e al., 2018). Ghana anks among he i s i e Wes A ican Coun ies in e ms o he numbe o In e ne
bank use s (Fincog, 2022). In Ghana, inancial ins i u ions, especially banks, in es in in o ma ion echnol-
ogy and human esou ces wi h inno a i e digi al skills o b idge he digi al di ide be ween he banked
and he unbanked (Kwa eng e al., 2019; S oica e al., 2015). I espec i e o hese s ides by Ghanaian
banks o imp o e In e ne banking, he gap be ween In e ne banking adop e s and non-adop e s has
widened (O o i e al., 2017; S a is a, 2022). Acco ding o Bank o Ghana (BoG) (2022), he numbe o eg-
is e ed In e ne bank use s in Ghana is limi ed o 5.6 million, while he numbe o non-In e ne bank
consume s has eached 18.7 million. In a nu shell, he in oduc ion o In e ne banking as a banking
p oduc o deepen he inancial inclusion agenda in Ghana is a - e ched.
Many s udies ha e emphasized he bene i s associa ed wi h adop ing In e ne banking
(Je msi ipa se e al., 2023; Laukkanen & Ki iniemi, 2010; Naeem e al., 2022; Zhang e al., 2022), p e-
suming ha banking p oduc s me i adop ion based on hei e icacy. Howe e , some online isks and
socio-economic ac o s may ad e sely a ec he adop ion o he banking p oduc , especially in he glo-
bal sou h (A i e al., 2020). Fo ins ance, Ra hnayake (2023) epo ed on how he bene i s and con eni-
ence o In e ne banking ha e led inancial ins i u ions o adop a ious digi al banking inno a ions.
Howe e , he unanswe ed ques ion is whe he consume s’demand o In e ne banking is a a obus
le el commensu a e wi h banks’implemen a ion e o s. Fu he mo e, Kwa eng e al. (2019) ound ha
despi e he signi ican ad ances in mode n echnology wi hin he Ghanaian banking sys em, a p edom-
inan conce n among consume s e ol es a ound he heigh ened incidence o aud pe pe a ed
h ough hese echnological channels. This p omp s inqui y in o he po en ial ba ie s hinde ing con-
sume s om u ilizing In e ne banking se ices.
The esea ch objec i es a e wo old. Fi s , we aim o assess he pe cep ions o bank consume s
ega ding ba ie s o In e ne banking adop ion in Ghana. Second, we in end o iden i y and examine
he key ac o s hinde ing he success ul adop ion o In e ne banking se ices. Consequen ly, he de el-
oped esea ch ques ions a e:
RQ1: How do consume s pe cei e he ba ie s ha p e en hem om success ully adop ing In e ne banking?
RQ2: Wha ac o s hinde he adop ion o In e ne banking se ices?
The s udy con ibu es o he heo e ical unde s anding o In e ne banking and ac o s ha se e as
ba ie s o success ully implemen ing i by de eloping a concep ual model. I o e s esh pe cep ions
in o he unde lying inhibi ing ac o s ha a ec consume s’adop ion o In e ne banking. O e all, he
s udy is expec ed o ad ance heo e ical knowledge, o e aluable insigh s o bank s akeholde s, add o
he body o empi ical e idence, and p o ide a amewo k o me hodological esea ch on ba ie s o
In e ne banking and i s e ec on adop ion in he pa icula con ex o Ghana.
The emainde o he pape is s uc u ed as ollows. Fi s , he li e a u e e iew, esea ch model and
hypo heses de elopmen a e p esen ed in sec ion wo. The esea ch me hodology is hen p esen ed in
sec ion h ee. Nex , he da a analysis and esul s a e shown in sec ion ou . Finally, he discussion o
indings, heo e ical and p ac ical implica ions, limi a ions and u u e esea ch di ec ions a e p esen ed
in he inal sec ion.
2. Li e a u e e iew
Acco ding o Sa hye (1999), e-banking occu s when bank cus ome s access hei bank accoun s o
unde ake online banking ansac ions ia he In e ne . These ansac ions may include online deposi s,
balance enqui ies, and ans e s ac oss mul iple accoun s. This kind o di e si ied banking is a compe i-
i e necessi y o banks (S oica e al., 2015). As au oma ed elle machines we e in oduced in he USA
in he 1950s and 1960s, inancial paymen channels ha e e ol ed signi ican ly (B
a iz-Lazo e al., 2014). In
he 1980s, elephone banking began, ollowed by In e ne banking in he 1990s, and hen mobile
2 A. B. JIBRIL ET AL.
banking en yea s la e (Jim
enez & D
ıaz, 2019). Bank cus ome s ha e bo h ad an ages and disad an-
ages in using a ious digi al paymen me hods (DPMs) as cash g adually becomes obsole e.
Acco ding o O ei and Nuamah-Gyamb ah (2016), e-banking has o e ed Ghanaian cus ome s easy
access o bank accoun s, a de elopmen ha has educed unde - he-coun e p ac ices by bank o ice s.
The adop ion o cashless policies o cashli e economies, as Oko o and Kigho (2013) e e o hem, has
been e ec i e due o he sec o ’s echnological imp o emen , which has no only dec eased he low o
ac ual cash bu also c ea ed e enue h ough bank cha ges o he banks. Ghanaian banks’p o i abili y
has inc eased due o he a ailabili y o al e na i e digi al channels in he coun y’s banking sys ems
(O ei & Nuamah-Gyamb ah, 2016). The ull ealiza ion o e-banking bene i s is no a ained in e e y
case, as ba ie s o adop ion o en impede web echnology om eaching i s maximum po en ial
(Ro chanaki umnuai & Speece, 2003).
In he con ex o Ghana, he s udies by Mb okoh (2016), Nimako e al. (2013), and Pe kins and Annan
(2013) collec i ely shed ligh on he ac o s in luencing he adop ion o In e ne banking. Mb okoh (2016)
su eyed cus ome s o wo banks o unde s and pe cep ions o In e ne banking usabili y and c edibili y,
while Nimako e al. (2013) used a sel -adminis e ed s uc u ed ques ionnai e o assess cus ome sa is ac-
ion wi h In e ne banking se ice quali y in wo banks. Pe kins and Annan (2013) employed a desc ip i e
c oss-sec ional mixed-me hodology app oach, ga he ing da a om bo h bank s a and cus ome s o
h ee banks o unde s and he ac o s in luencing In e ne banking adop ion. While he insigh s om
hese s udies emain aluable, i is wo h no ing ha hei ele ance may ha e diminished o e ime due
o changes in echnology, banking p ac ices, and consume beha iou since hei publica ion. Mb okoh’s
s udy emphasized he signi icance o pe cei ed ease o use and c edibili y in shaping consume s’in en-
ions owa ds In e ne banking adop ion. I unde sco es he impo ance o add essing secu i y, p i acy,
and us conce ns o enhance he c edibili y o In e ne banking pla o ms. Nimako e al. ound cus ome
dissa is ac ion ega ding se ice quali y aspec s such as esponsi eness, guidance o p oblem esolu ion,
and ansac ion speed, sugges ing imp o emen s in hese a eas o enhance sa is ac ion and adop ion
a es. Pe kins & Annan’s s udy e ealed ha pe cei ed ease o use, us , secu i y, and go e nmen sup-
po signi ican ly in luence cus ome s’in en ion o use In e ne banking.
A numbe o s udies ha e examined he impac o inancial loss on in es men (Chen, 2021; La bi,
2016; O o i, 2020; Roszkowska, 2020). Acco ding o O o i (2020), inancial h ea and in es men loss a e
posi i ely co ela ed. I he cus ome pe cei es a high le el o inancial loss associa ed wi h e-banking,
echnology adop ion can be a majo ba ie . I is, he e o e, essen ial o examine whe he he isk o
inancial loss nega i ely in luences bank cus ome s’e-banking in en ion.
Repu a ion isk can be a ba ie ha damages bo h o ganiza ional and indi idual epu a ions.
Schola s ha e examined he impac o inancial mal easance and sys em hacks on i ms and indi iduals’
epu a ions (Behe a e al., 2022; Nujen e al., 2021). Good e hical p ac ices enhance an o ganisa ion’s
epu a ion (Behe a e al., 2022). The up ake o e-banking may be limi ed i adop e s pe cei e ansac ion
isks ha could po en ially damage hei epu a ion. Mo eo e , comp ehending he in insic mo i a ional
ac o s o use s is c ucial o enhancing hei in en ion o con inue using In e ne banking se ices (Rahi
e al., 2023).
A majo ba ie o echnology adop ion is he ea o secu i y and p i acy. The e is li le published
wo k on a oidance mo i a ion s emming om hese conce ns. The a oidance mo i e explains how use s
beha e in e ms o secu i y in o de o a oid ha m ul IT isks (Liang & Xue, 2009). This s udy examines
how consume s migh a oid e- ansac ions i hey belie e hey a e ha m ul in he con ex o e-banking.
The p ice o digi al se ices is ano he ba ie o he adop ion o e-banking se ices as a ac o ha may
in luence he decision o adop he se ice. Addi ionally, a knowledge gap exis s due o socie al dispa -
i ies, hinde ing he adop ion o e-banking se ices among wo dis inc socio-economic g oups: hose
wi h highe and lowe socio-economic s a uses.
To bols e he adop ion o e-banking se ices, he p ima y ba ie lies in acili a ing condi ions,
encompassing he le el o echnical and o ganiza ional suppo accessible o adop e s. A signi ican
impedimen o e-banking adop ion is he inancial cha ges linked o online ansac ions, such as ans-
e s ac oss mul iple accoun s. In his s udy, ou objec i e is o delinea e how cus ome s pe cei e ba ie s
o adop ing banking se ices.
COGENT ECONOMICS & FINANCE 3
2.1. P io esea ch on e-banking
Al hough e-banking has ecei ed signi ican a en ion om schola s, i s adop ion in sub-Saha an A ican
coun ies is ela i ely sca ce (Ohiani, 2020). A syn hesis o he ex an e-banking li e a u e helped us
unco e h ee a eas (gaps) in he e-banking li e a u e ha need esea ch a en ion. These selec ed s ud-
ies a e summa ised in Table 1.
Fi s , ex an In e ne banking s udies (e.g. A o a & Sandhu, 2018; Lee & Kim, 2020; Rahi & Ghani, 2019;
S
anchez-To es e al., 2018; Thake e al., 2021) ha e ex ensi ely in es iga ed ac o s ha in luence
e-banking adop ion, while he e is ela i e silence on he ac o s ha may inhibi he adop ion o he
inno a ion. This de elopmen is pa ially enabled by he excessi e eliance o e-banking s udies on
esea ch heo ies ha emphasize adop ion-d i en ac o s. As a esul , he an eceden s ha in luence o
Table 1. Summa y o selec ed e-banking s udies.
Re e ences Model used Con ex Cons uc s
Thake e al. (2021) UTAUT 2 The con ex ual ocus o he esea ch was
Malaysia, based on 319 esponden s.
The s uc u al equa ion modelling
(SEM) me hod was used o da a
analysis.
Pe o mance expec ancy
E o expec ancy
Social in luence
Facili a ing condi ions
P ice alue
Hedonic mo i a ion
Sa a i e al. (2020) TAM The con ex ual ocus o he esea ch was
he Democ a ic Republic o Congo,
based on 215 esponden s. The
s uc u al equa ion modelling (SEM)
me hod was used o da a analysis.
Pe cei ed use ulness
Pe cei ed ease o use
Pe cei ed web secu i y
In e ne us
Sha ma and Go indalu i (2014) Ex ended TAM The esea ch was conduc ed in India
based on 314 esponden s. The
s uc u al equa ion modelling (SEM)
me hod was used o da a analysis.
Pe cei ed use ulness
Pe cei ed ease o use
Social in luence
Awa eness
Quali y o In e ne connec ion
Compu e sel -e icacy
Rahi and Ghani (2019) DeLone and McLean IS
success model and sel -
de e mina ion
heo y (SDT)
The esea ch was conduc ed in Pakis an
based on 750 esponden s. The
s uc u al equa ion modelling (SEM)
me hod was used o da a analysis.
In o ma ion quali y
Se ice quali y
Sa is ac ion
In ojec ed egula ion
Ex e nal egula ion
In insic egula ion
Iden i ied egula ion
Rawashdeh (2015) Ex ended TAM The esea ch was conduc ed in Jo don
based on 298 esponden s. The
s uc u al equa ion modelling (SEM)
and SPSS me hod we e used o da a
analysis.
Pe cei ed use ulness
Pe cei ed ease o use
Pe cei ed web p i acy (PWP)
A i ude
In en ion
A o a and Sandhu (2018) UTAUT and SERQUAL The esea ch was conduc ed in India and
in ol ed 524 esponden s. The mul iple
eg ession analysis (MRA) me hod was
used o da a analysis.
E o expec ancy
Pe o mance expec ancy
In o ma ion quali y
Se ice quali y
Sel -in e es
Expe ience
S
anchez-To es e al. (2018) UTAUT wi h modi ica ion The esea ch was conduc ed in Colombia
and in ol ed 600 esponden s. The
s uc u al equa ion modelling (SEM)
me hod was used o da a analysis.
Pe o mance expec ancy
E o expec ancy
Go e nmen suppo
T us
Yaseen and El Qi em (2018) UTAUT 2 wi h
modi ica ion
The esea ch was conduc ed in Jo don
and in ol ed 348 esponden s. The
da a analysis me hod used was
mul iple eg ession.
Pe o mance expec ancy
E o expec ancy
Social in luence
Hedonic mo i a ion
Se ice quali y
Pe cei ed ease o use
Wang e al. (2017) UTAUT wi h modi ica ion The esea ch was conduc ed in China
based on 181 esponden s. The da a
analysis me hod used was mul iple
eg ession.
Pe o mance expec ancy
E o expec ancy
Pe sonalisa ion
Compa ibili y
Lee and Kim (2020) Bene i - isk and ne wo k
ex e nali y amewo k
The esea ch was conduc ed in Sou h
Ko ea and in ol ed 672 esponden s.
The da a analysis me hod used was
mul iple eg ession.
Con enience
Economic e iciency
Func ional isk
Secu i y isk
C i ical mass
Numbe o se ices
T us
4 A. B. JIBRIL ET AL.
p e en he adop ion o e-banking, such as pe cei ed inancial cha ges, in as uc u al gap, p ice o
digi al se ices, and ea o inancial loss, a e unde s udied. Simila ly, p e ious s udies (e.g. A o a &
Sandhu, 2018; Sa a i e al., 2020;S
anchez-To es e al., 2018) ha e p ima ily concen a ed on adop ion
d i e s, while he e has been li le discussion abou inhibi o s. Fo ins ance, A o a and Sandhu (2018)
ocused on adop ion d i e s such as pe o mance expec ancy, e o expec ancy, in o ma ion quali y,
and se ice quali y o in es iga e In e ne banking in India. Likewise, S
anchez-To es e al. (2018) used
pe o mance expec ancy, e o expec ancy, go e nmen suppo , and us as In e ne banking adop e s
in Colombia. Al hough knowing he adop ion d i e s is impo an , i is also c ucial o unde s and he
impac o inhibi o s/ba ie s because hey can lead o non-adop ion, discon inued use, and, e en ually,
he ex inc ion o he inno a ion (Senyo & Osabu ey, 2020). Fo his eason, a s udy examining he ba -
ie s o e-banking adop ion is needed o o mula e policies o add ess hese adop ion bo lenecks.
Second, p e ious In e ne banking s udies (e.g. Rawashdeh, 2015; Sa a i e al., 2020; Thake e al.,
2021; Wang e al., 2017; Yaseen & El Qi em, 2018) ha e la gely in es iga ed echnology ac o s such as
pe cei ed ease o use, pe cei ed use ulness, pe cei ed websi e secu i y, quali y o In e ne connec ion,
and pe cei ed web p i acy, while knowledge on ac o s such as pe cei ed inancial cha ges, in as uc-
u al gap, p ice o digi al se ices, and ea o inancial loss emain limi ed. Fo ins ance, in in es iga ing
In e ne banking adop ion, Sa a i e al. (2020) ocused on ac o s such as he pe cei ed use ulness o he
echnology, pe cei ed ease o use, and In e ne us . Simila ly, Thake e al. (2021) ocused on ac o s
such as pe o mance expec ancy, e o expec ancy, and acili a ing condi ions. Likewise, Rawashdeh
(2015) also examined In e ne bank adop ion by ocusing on ac o s such as pe cei ed web p i acy and
pe cei ed ease o use. As a esul , echnological ac o s ha in luence In e ne banking adop ion a e
well es ablished. None heless, p io s udies like Thake e al. (2021), Rawashdeh (2015), and Sa a i e al.
(2020) ha e no gone u he o in es iga e ba ie s o In e ne banking adop ion. Gi en ha he e a e
inhibi o s o In e ne banking adop ion, he e is a need o unde s and he ac o s ha se e as ba ie s
o i s adop ion, a gap his s udy seeks o add ess.
Thi d, many In e ne banking s udies (e.g. Rawashdeh, 2015; Sa a i e al., 2020; Sha ma & Go indalu i,
2014; Thake e al., 2021) ha e la gely adop ed echnology adop ion heo ies such as he echnology
accep ance model (TAM), uni ied heo y o accep ance and use o echnology (UTAUT), and DeLone and
McLean IS success model. I is impo an o men ion ha he echnology adop ion models do no
adequa ely add ess he dynamics o inancial and socio-economic cha ac e is ics ha inhibi e-banking
adop ion. The e o e, i is impo an o explo e he inancial and socio-economic ba ie s o In e ne
banking adop ion, which a e no su icien ly accoun ed o by he echnology accep ance heo ies.
While he ou lined h ee a eas shed ligh on he exis ing gaps in e-banking li e a u e ele an o his
s udy, i is impe a i e o ecognize and highligh addi ional eme ging li e a u e ha holds p omise in u -
he ing ou comp ehension o In e ne banking, especially wi hin o he de eloping economies. The li e a-
u e on In e ne banking in de eloping economies highligh s c i ical ac o s in luencing adop ion and
u iliza ion. Kuma e al. (2023) emphasize he signi icance o use pe cep ion, pa icula ly in India, whe e
he pe cei ed bene i s and ease o mobile banking usage d i e adop ion. Uche (2023) con ibu es insigh s
om Nige ia, whe e secu i y conce ns pose subs an ial ba ie s o In e ne banking. The s udy unde sco es
he need o imp o ed in as uc u e and us -building e o s o alle ia e consume app ehensions.
In an Alge ian con ex , Bellahcene and La eche (2023) ound ha pe cei ed use ulness and ease o
use signi ican ly impac a i udes and usage o e-banking se ices. They ad oca e o enhancing accessi-
bili y and suppo esou ces o encou age b oade accep ance. Be na d Azolibe e al. (2023) shed u he
ligh on Nige ia’s challenges, iden i ying in as uc u e limi a ions as a key hind ance o In e ne banking
adop ion. The s udy unde sco es he necessi y o ne wo k p o ide s o imp o e eliabili y and speed.
Gau am and Sah (2023) esea ch in Nepal emphasizes he impo ance o websi e e iciency and use sa -
is ac ion in d i ing cus ome loyal y o In e ne banking. They highligh he need o con inuous
imp o emen in se ice quali y and use expe ience o os e g ea e adop ion.
Compa a i ely, while hese s udies ecognize he impo ance o use pe cep ion and secu i y conce ns,
he e a e egional nuances. Fo ins ance, Indian use s p io i ize con enience and ease o use, Nige ian
use s exp ess heigh ened conce ns abou secu i y, Alge ian use s emphasize u ili y and accessibili y, and
Nepalese use s alue websi e e iciency and sa is ac ion. Despi e hese a ia ions, imp o ing in as uc-
u e and us emain cen al o os e ing In e ne banking adop ion ac oss hese di e se con ex s.
COGENT ECONOMICS & FINANCE 5
2.2. Concep ual amewo k and hypo heses de elopmen
Technological ad ancemen s ha e empowe ed consume s o seamlessly access a wide a ay o p oduc s
and se ices wi hin he banking indus y (Mala e al., 2019). Wi h he de elopmen o ICT, banks now ha e
a di ec ela ionship wi h hei cus ome s, a he han ha ing o in e ac wi h a bank b anch in pe son
(Ma o oy & San os, 2012). In o de o achie e alue co-c ea ion, some au ho s, such as And eu e al. (2010),
speci y he consequences o di ec in e ac ions be ween a company and i s cus ome s. O he esea che s,
such as Payne e al. (2008), a gue ha o ganiza ions mus adop a cus ome ela ionship app oach o sup-
po alue c ea ion. In o de o co-c ea e wi h cus ome s, companies mus be able o connec wi h hem
and ha e a ma ke o ien a ion. As a esul , le e aging cus ome s’subconscious beha iou becomes impe a-
i e o op imizing he company-clien ela ionship. This app oach os e s cus ome engagemen and acili-
a es he ul ilmen o hei indi idual needs. Mo eo e , he ad en o new echnologies, p oduc s, and
se ices encou ages new cus ome demands (Hosseini e al., 2020). As in o ma ion becomes mo e access-
ible and p oduc s and se ices become mo e di e si ied h ough he In e ne , consume s ha e highe
expec a ions. Consequen ly, inno a ions o igina ing in one pa o he wo ld can swi ly become accessible
and desi ed globally (Maina des e al., 2017). Consume s can also access elec onic se ices h ough hei
sma phones. As a esul , banks a e cons an ly b inging new se ices o ma ke based on cus ome
demands, e lec ing a con inuous exchange o ideas and co-c ea ion o alue (Ak e e al., 2020).
We de eloped a concep ual amewo k based on se en ac o s ha we a gue may nega i ely a ec
he in en ion o engage in e-banking ansac ions. These ac o s include ea o inancial loss, pe cei ed
ea o epu a ion damage (iden i y he ), unce ain y abou he ou come o he se ice (a oidance mo i -
a ion), he pe cei ed p ice o digi al se ices, pe cei ed knowledge gap among p ospec i e/use s, in a-
s uc u e gap, and pe cei ed amoun o inance cha ges. The esea ch amewo k is illus a ed in Figu e 1.
2.2.1. Fea o inancial loss
Fea o inancial loss occu s when people expe ience money losses due o aul y se ices by i ms (Chen,
2021). Gene ally, people decline echnology, which poses a h ea o losing money. In In e ne banking,
consume s a e likely o ejec he inno a ion i hey pe cei e some inancial losses due o hi d pa ies
accessing hei pe sonal in o ma ion and using i agains hem, he eby losing money (La bi, 2016).
Al hough In e ne banking is associa ed wi h bene i s such as con enience and easy access o bank
accoun s, he ea o inancial loss dimension is ye o be ully explo ed in esea ch. Hence, examining
whe he he ea o inancial loss impedes bank consume s’in en ion o adop an inno a ion is c ucial.
In he ex an li e a u e, ea o inancial loss has been sugges ed o in luence inancial in es men (Chen,
2021; La bi, 2016; O o i, 2020; Roszkowska, 2020). Following his, we conside he ea o inancial loss as
a ba ie o In e ne banking adop ion. So a , in he con ex o In e ne banking, he ela ionship
be ween ea o inancial loss and beha iou al in en ion o adop In e ne banking has no been de e -
mined. As a esul , we hypo hesized ha ;
H1: The pe cei ed ea o inancial loss du ing online ansac ions would nega i ely a ec he in en o engage in
e-banking ansac ions.
2.2.2. Fea o epu a ion damage
Repu a ional damage is he loss ha impac s a pe son’s o business’s excellen s anding, leading o
ad e se pe cep ions among o he s. (Boakye e al., 2023). In cases whe e people pe cei e he adop ion o
an inno a ion may damage hei epu a ion, hey a e likely o ejec i s adop ion. In In e ne banking, con-
sume s a e likely o ejec he inno a ion i hey pe cei e epu a ional damage associa ed wi h i . Using e-
banking se ices equi es consume s o p o ide sensi i e in o ma ion ha is suscep ible o hacke s and
c acke s, who in u n can use i agains consume s, which may a nish hei epu a ion. In p io s udies,
epu a ional damage has nega i ely in luenced inno a ion adop ion (Behe a e al., 2022; Chang & Chen,
2020; Nujen e al., 2021). Following his pa h, his s udy opines ha ea o epu a ion damage will p e-
en consume s om o ming he in en ion o adop e-banking and, he e o e, we hypo hesize ha ;
H2: The pe cei ed ea o epu a ion damage would nega i ely a ec he in en o engage in e-banking
ansac ions.
6 A. B. JIBRIL ET AL.
2.2.3. A oidance mo i a ion
A oidance mo i a ion s ems om secu i y and p i acy conce ns ela ing o echnology adop ion.
A oidance mo i a ion explains use s’secu i y beha iou in o de o a oid ha m ul IT isks (Liang & Xue,
2009). In addi ion, ex an esea ch has shown ha p i acy conce ns and coping app aisal signi ican ly
in luence use s’adop ion o echnology (Amma i e al., 2014; H. Chen & Li, 2017; Wi schey e al., 2015).
In he e-banking con ex , we a gue ha use s o he inno a ion may a oid i i hei pe cep ion o he
e- ansac ion is ha m ul. The e o e, we hypo hesise ha :
H3: The unce ain y abou he se ice ou come (a oidance mo i a ion) would nega i ely a ec he in en o
engage in e-banking ansac ions.
2.2.4. P ice o digi al se ices
Digi al p oduc s and se ices a e becoming inc easingly impo an o inancial ins i u ions, including
banks. Todays’s pla o m economy gene a es p o i s o i ms ha le e age digi al solu ions (Aga wal
e al., 2022). Howe e , add essing he cos s associa ed wi h u ilizing digi al p oduc s and se ices
emains challenging. Schola s ha e a gued ha he p ice o digi al p oduc s and se ices should be
based on hei alue a he han hei p oduc ion cos s(Bapa & Khandelwal, 2023; Baumga , 2020).
While he consume alue o adi ional goods and se ices is o en angible, assessing he alue o
digi al p oduc s poses a g ea e challenge. Consume s ypically need o expe ience digi al p oduc s i s
hand be o e de e mining he p ice hey a e willing o pay (Kalyana am e al., 2022). This ex-pos p ice
de e mina ion may a ec adop ion, especially when he p ice is ela i ely highe han consume s expec .
Al hough In e ne banking in ol es using applica ions c ea ed by banks, when he cos o i s c ea ion is
hea ily bu dened on consume s, i p e en s hem om using i . Hence, examining whe he he high
p ice o digi al se ices hinde s bank consume s’in en ion o adop e-banking inno a ion is c ucial. So
Figu e 1. Resea ch amewo k.
Sou ce: Au ho s’cons uc .
COGENT ECONOMICS & FINANCE 7
Las ly, he de elopmen o a comp ehensi e heo e ical model, in eg a ed wi h o he eme ging echnol-
ogies aimed a enhancing e-banking cus ome sa is ac ion, should be pu sued and implemen ed. This
holis ic app oach s ands o imp o e he o e all e icacy and use expe ience o e-banking se ices.
Many s udies p ima ily ocus on he ac o s in luencing he u iliza ion o mobile inancial se ices, ec-
ognizing ha such echnological ad ancemen s a e ela i ely new, pa icula ly o elde ly consume s
who o en equi e educa ion o aining on hese echnologies (Albash awi & Mo iwalla, 2017). Va ious
ba ie s hinde he accep ance, adop ion, and usage o mobile comme ce among he elde ly, wi h secu -
i y and us eme ging as p ominen conce ns wi hin his demog aphic (Lian & Yen, 2014). Financial
ins i u ions ace he challenge o ins illing us o engage his audience, no wi hs anding p e ailing pe -
cep ions o dis us wi hin he sec o (Benama i & Se a, 2007). Mo eo e , use in e ac ion wi h he
In e ne p ima ily elies on us , al hough o en nonchalan ly (Howah & Chugh, 2019).
The analysed da a p o ided signi ican insigh in o he socio-economic ac o s and pe cei ed iden i y
isk ac o s ha inhibi he adop ion o e-banking se ices. Conside ing he eme gence o he COVID-19
pandemic, i is e iden ha many inancial ins i u ions ha e inculca ed he habi o online ansac ions
in o hei clien s o make g ea e use o echnology (e-banking acili ies). Howe e , i is known in he
less digi alised economies, o ha ma e , Ghana, whe e he cu en s udy is hinged on, ha e-banking
no only educes queues (o clien wai ing ime) bu helps o ul il one o he basic p o ocols o he
Wo ld Heal h O ganisa ion, i.e. a oiding ace- o- ace con ac . This esea ch is no el because o i s unique
concep ual model, which p esen s online and socio-economic ac o s ha impede he adop ion o e-
banking oday. Tailo ing he measu emen i ems o align wi h he speci ics o he cu en s udy in ol ed
he adap a ion o esea ch cons uc s d awn om ele an li e a u e. Rega ding he pe cei ed iden i y
he ac o s, secu i y and p i acy conce ns we e d awn om s udies by Nwaiwu e al. (2020) and
Zanoon and Gha aibeh (2013). Fea o inancial loss and ea o epu a ional damage we e sou ced om
esea ch conduc ed by Walsh e al. (2016). A oidance mo i a ion was de i ed om he wo k o Hille
e al. (2015), while in en ion owa ds e-banking ansac ions was adap ed om Venka esh e al. (2003).
All h ee ac o s ela ing o he socio-economic si ua ion we e in o med by he esea ch o Jib il e al.
(2020b).
H1: The pe cei ed ea o inancial loss du ing online ansac ions would nega i ely a ec he in en o engage in
e-banking ansac ions.
The i s hypo hesis o his s udy is ha he pe cei ed ea o inancial loss du ing an online ansac-
ion would nega i ely a ec he in en o engage in he e-banking se ice. This is because he pe cei ed
Table 5. Disc iminan alidi y using HTMT(He e o ai –Mono ai a io).
Cons uc 1 2 3 4 5 6 7 8
1. Fea o inance loss
2. Fea o epu a ion damage 0.7787
3. A oidance mo i a ion 0.5308 0.5265
4. P ice o digi al de ice 0.1534 0.1664 0.2021
5. Pe c-Knowledge gap 0.2253 0.2859 0.4139 0.4070
6. In en o E-Banking 0.1242 0.0577 0.0254 0.4892 0.4060
7. In as uc u e gap 0.2153 0.2431 0.4137 0.3565 0.4715 0.4039
8. Pe c. inancial cha ge 0.3067 0.2124 0.3666 0.3153 0.3957 0.2871 0.5631
Sou ce: Au ho s’compu a ion om ADANCO 2.2.1.
Table 6. PLS-SEM-Hypo he ical pa h.
E ec Be a (b) M SD T- alue P- alue Decision
H1: Fea o inance loss ->INTENT o E-Banking −0.1756 −0.1908 0.0432 −4.0599 0.0000 Suppo ed
H2: Fea o epu a ion damage ->INTENT o E-Banking −0.0726 −0.0710 0.0622 −1.1678 0.2430 No suppo ed
H3: A oidance mo i a ion ->INTENT o E-Banking −0.0965 −0.0815 0.0480 −2.0104 0.0444 Suppo ed
H4: P ice o digi al de ice ->INTENT o E-Banking 0.2973 0.2994 0.0451 6.5917 0.0000 Suppo ed
H5: Pe c-Knowledge gap ->INTENT o E-Banking 0.2476 0.2387 0.0407 6.0890 0.0000 Suppo ed
H6: In as uc u e gap ->INTENT o E-Banking 0.2162 0.2121 0.0446 4.8511 0.0000 Suppo ed
H7: Pe c. inancial cha ge ->INTENT o E-Banking 0.0843 0.0823 0.0419 2.0107 0.0444 Suppo ed
Coe icien o de e mina ion (R
2
)
In en o E-banking ¼0.352
Sou ce: Au ho s’compu a ion om ADANCO 2.2.1.
14 A. B. JIBRIL ET AL.
ea o inancial loss conno es he po en ial loss o money om online ansac ions. In his s udy, he
cons uc is one o he pe cei ed online isk ac o dimensions. Wi h his in mind, scep ical cus ome s o
use s who a e no su e abou he success ul ou come o he ansac ion may hink hey may lose money
in he p ocess. Based on he eg ession and signi ican alue o ou indings, H1 was con i med and sug-
ges ed ha cus ome s’inabili y o maximise he use o e-banking se ice has igge ed he secu i y and
us componen s o he se ice. This s udy co obo a ed he wo k o Nwaiwu e al. (2020), which was
also in Nige ia’s se ice-based o ganisa ions.
H2: The pe cei ed ea o epu a ion damage (o iden i y he ) du ing online ansac ions would nega i ely a ec
he in en o engage in e-banking ansac ions.
The s udy u he in es iga es a dimension o pe cei ed online isk ac o (known as pe cei ed epu a-
ion damage) ega ding hypo hesis wo. This cons uc espouses he iden i y he ha may occu when
a bank cus ome engages in e-banking se ices. Secu i y and p i acy conce ns ha e become a d i ing
o ce o p ospec i e and exis ing cus ome s’decision-making o emba k on e-banking ansac ions.
Though ou esul s show a nega i e ela ionship be ween pe cei ed epu a ion damage and he in en
o adop e-banking se ices, he e ec was no s a is ically signi ican . The indings we e con a y o he
ea lie wo k o Jib il e al. (2020a), which s udied cus ome s o wo banks in he same s udy con ex .
H3: The unce ain y abou he se ice ou come (a oidance mo i a ion) would nega i ely a ec he in en o
engage in e-banking ansac ions.
The s udy’s hi d hypo hesis was suppo ed, which has o do wi h he nega i e ela ionship be ween
a oidance mo i a ion and he in en o engage in e-banking ansac ions (H3). A oidance mo i a ion
desc ibes he pe cep ion (o he s a e) a which a pe son an icipa es a ha m ul e ec o using new ech-
nology. In his ligh , he indings sugges ha once he bank cus ome s en isage a possible nega i e
ou come o he se ice, hey a e no mo i a ed o accep o adop his e-banking, hence a oiding i
en i ely. The e o e, he s udy’s pa icipan s know ha since he e-banking se ice epu poses egula
banking se ices, hey belie ed ha he ou come o he se ice could be comp omised. This inding is
in line wi h Rhoa and Yub (2011) esea ch and subsequen ly con i ms he wo k o he p oponen o
echnology h ea a oidance heo y (see Liang & Xue, 2009).
H4: The pe cei ed p ice o digi al de ices would nega i ely a ec he in en o engage in e-banking ansac ions.
The ou h hypo hesis conside s he ela ionship be ween he p ice o digi al se ices and he in en
o adop e-banking. I is wo h no ing ha he cu en s udy disco e ed a signi ican co ela ion
be ween he p ice o digi al se ices and he in en ion o use e-banking se ices in Ghana. Tha is o
say, H4 was suppo ed and sugges ed ha bank cus ome s in less digi alised economies a e conce ned
abou hei income le el ela i e o he p ice o digi al se ices, including he cos o digi al de ices
(such as sma phones, able s, and so o h.). This esul emphasises ha he highe he cos o acili a -
ing condi ions o adop e-banking se ice, he lowe he willingness hey (cus ome s) exhibi owa ds e-
banking se ice. This e idence co obo a ed wi h ea lie esea ch om Boa eng e al. (2016), which
assessed he de e minan s o In e ne banking in a de eloping coun y.
H5: Pe cei ed knowledge gap among p ospec i e/use s would nega i ely a ec he in en o engage in e-banking
ansac ions.
The i h hypo hesis o he s udy was o asce ain he e ec o he pe cei ed knowledge gap on he
in en o engage in e-banking se ices. The hypo hesis s a emen was suppo ed; hus, he pe cei ed
knowledge gap among bank cus ome s would nega i ely a ec he in en ion o adop e-banking se -
ices. As men ioned ea lie in he li e a u e sec ion, he pe cei ed knowledge gap in his s udy con ex
desc ibes he cus ome ’s su icien expe ience o in o ma ion o hook up on he new echnology
(Chha wani & Mish a, 2021). The inding sugges s ha ICT knowledge, such as knowing how o na iga e
websi es and use bank apps, among o he s, ends o encou age p ospec i e and exis ing bank cus om-
e s o le e age hese echnologies and make banking ansac ions s ess- ee. This inding aligns wi h
ha o Al-Jab i and Sohail (2012).
H6: Non-a ailabili y o in as uc u e would nega i ely co ela e wi h engaging in e-banking ansac ions.
COGENT ECONOMICS & FINANCE 15
The six h hypo hesis explains he nega i e co ela ion be ween in as uc u e de ici and he in en o
engage in e-banking se ices. Indeed, he esul s show ha he in as uc u e gap nega i ely a ec s cus-
ome s’in en ion o adop e-banking se ices. In his esea ch, he in as uc u e suppo sys em in ol es
he a ailabili y o Wi-Fi connec ions, s able In e ne connec ion, a o dable b oadband, and cons an
elec ici y supply, among o he s, o he gene al ci izens (o cus ome s). The e o e, he indings sugges
ha a de ici o hese acili a ion condi ions wi hin an eme ging economy would inhibi he desi e o
adop e-banking. This e idence suppo s he ongoing discou se and u he s eng hens he li e a u e
on simila esea ch hemes (see E en, 2021; Ra dinal & Senalasa i, 2021).
H7: Pe cei ed inancial cha ges would nega i ely a ec he in en o engage in e-banking ansac ions.
The las hypo hesis examines whe he pe cei ed inancial cha ges nega i ely a ec he cus ome ’s
in en o adop an e-banking se ice. The hypo hesis s a emen (H7) was pa ially suppo ed. This e i-
dence sugges s ha bank cus ome s a e no happy wi h he addi ional cos s cha ged by banks due o
he new echnology (e-banking se ice). Howe e , i is in e es ing o no e ha o banks o eco e hei
ope a ing cos o in eg a ing e-banking sys em, such cos s a e ans e ed o he cus ome . Ha ing his
cos bu den in mind, he cus ome would p epa e o igno e he e-banking se ice and swi ch o he old
physical banking se ice o a oid possible inancial cha ges. The cu en esea ch con i ms he ou come
o a s udy by Namahoo and Laoha ichien (2018).
The indings o ou s udy esona e wi h and complemen exis ing esea ch conduc ed in bo h
Ghanaian and de eloping economy con ex s, shedding u he ligh on he ac o s in luencing In e ne
banking adop ion. Fi s ly, in alignmen wi h p io Ghanaian s udies, ou esea ch unde sco es he pi o al
ole o pe cei ed use ulness and ease o use in d i ing cus ome adop ion o In e ne banking. This ech-
oes he indings o Mb okoh (2016), Nimako e al. (2013), and Pe kins and Annan (2013), highligh ing
he endu ing impo ance o hese ac o s wi hin he Ghanaian banking landscape. Secondly, ou s udy’s
emphasis on pe cei ed p ice alue mi o s he dissa is ac ion exp essed by Ghanaian cus ome s ega d-
ing ansac ion ees and cha ges, as iden i ied by Nimako e al. (2013). This inding also esona es wi h
esea ch conduc ed in India by Kuma e al. (2023), indica ing a sha ed conce n ac oss di e se de elop-
ing economies ega ding he inancial aspec s o In e ne banking. Addi ionally, ou s udy acknowledges
he impo ance o in as uc u e a ailabili y in d i ing cus ome adop ion o In e ne banking, aligning
wi h esea ch conduc ed in Nepal by Gau am and Sah (2023). Las ly, ou esea ch unde sco es he uni-
e sal challenges o secu i y, p i acy conce ns, and inancial mal easance, aligning wi h p io s udies in
bo h Ghana and o he de eloping economies. This ea i ms he c i ical ole o us and secu i y in os-
e ing cus ome sa is ac ion and adop ion, as emphasized by Pe kins and Annan (2013) and Uche (2023)
in he Ghanaian and Nige ian con ex s, espec i ely. By acknowledging he sha ed challenges and nuan-
ces ac oss di e se geog aphical con ex s, ou esea ch unde sco es he impo ance o a holis ic app oach
o add ess he mul i ace ed ac o s in luencing In e ne banking adop ion in sub-Saha an A ican coun-
ies and o he de eloping economies.
5.1. Theo e ical implica ions
E-banking, in gene al, has ecei ed conside able a en ion om schola s and o he indus y playe s alike.
I is s udied as a s a egic managemen ool ha banks pe o m in se ice quali y ega ding he e ec -
i eness and e iciency o he new echnology in he inancial indus y (Bo chway e al., 2019;2020;
Kennedy, 2012; Vinodhini & Chand aseka an, 2012). Hence, his s udy opens a pa hway o schola ly
wo k on he ba ie s o FinTech ega ding he s a egic implemen a ion o digi al echnologies adop ion
(o engagemen ) in a se ice-based o ganisa ion, pa icula ly in he banking indus y in de eloping
economies. Fu he mo e, he s udy adds o he echnology adop ion li e a u e and p o ides a heo e ical
basis o schola s o unea h hidden dimensions o cus ome s’cons ain s ha impede he success ul
engagemen o online banking ansac ions in a de eloping economy. Again, he a oidance mo i a ion
heo y is ba ely applied in he con ex o e-banking li e a u e; hence, his esea ch ex ends he heo y’s
applica ion o enhance i s alidi y and eliabili y.
16 A. B. JIBRIL ET AL.
5.2. P ac ical implica ions
P ac ically, he s udy se es as a guideline o banke s and o he playe s in he inancial indus y.
Unde s anding cus ome s’beha iou in echnology adop ion helps i ms make p o i able decisions in
he long e m. In o he wo ds, inancial p ac i ione s could ely upon his cu en s udy o deploy s a-
egic managemen and ma ke ing ools o cu b he a oidance o e-banking se ice engagemen om
he cus ome side. The s udy u he admonishes banking ins i u ions o in ensi y use educa ion on he
adop ion and con inual use o e-banking se ices so a as e-banking has come o s ay. This use educa-
ion is necessi a ed due o he g owing usage o echnology ac oss he business en i onmen , and i
would help mi iga e he pe cep ion o cons ain s associa ed wi h he new echnology (e-banking). I
will be impe a i e o banke s o ake an immedia e app oach o emedy he pe sis en a oidance o
slow adop ion o echnology, pa icula ly in he eme ging economies his s udy hinges on.
5.3. Conclusion, esea ch limi a ions and u u e di ec ion
Ou s udy quan i a i ely analysed 672 esponses (bank cus ome s) o es ablish he ba ie s o e-banking
se ices in an eme ging economy (Ghana). No ably, ea o inancial loss, ea o epu a ion damage, and
a oidance mo i a ion a e classi ied as pe cei ed online isk ac o s. In con as , he p ice o digi al de i-
ces, pe cei ed knowledge gap, in as uc u e gap, and pe cei ed inancial cha ge a e ca ego ised as
socio-economic ac o s. The s udy hypo hesised and concluded ha excep o ea o epu a ion dam-
age, all o he cons uc s we e signi ican ba ie s o adop ing e-banking se ices in Ghana. The s udy ec-
ommends ha o de eloping economies such as Ghana, a sub-Saha a A ican coun y, o achie e a
cashless economy, p uden measu es should be ins i u ed by he banks and egula o s alike o ins il con-
idence in he ci izen y ega ding e-banking se ices.
Like o he s, his esea ch is no wi hou limi a ions. Fi s , he analysis conside ed only bank cus ome s’
iews while o e looking he bank p ac i ione s’ iews. Second, he s udy ac o ed in online isks and
socio-economic ac o s ( a iables) wi hou conside ing cul u al and psychological ac o s ha could
inhibi he adop ion o e-banking ansac ions in Ghana. Nex , he s udy’s sample size may be small
compa ed o he numbe o cus ome s o a ious comme cial banks in Ghana, which could a ec he
gene alisabili y o he esul s. Hence, he esea che s in i e u u e schola s o conside a mixed-me hods
app oach o in es iga e he cu en heme in a simila ju isdic ion (o con ex ). Also, i would be in e es -
ing i o he impo an a iables we e ac o ed in o a new s udy. No wi hs anding, he au ho s ecom-
mend ha u u e s udies inc ease he sample size o s eng hen he eliabili y and alidi y o he
p oposed esea ch model. In addi ion, a compa a i e s udy om eme ging economies could be in e es -
ing o asce ain simila i ies and disc epancies om he cu en model.
Au ho con ibu ions s a emen
Abdul Bashi u Jib il:The concep ion and design, o analysis and in e p e a ion o he da a; he d a ing o he
pape , e ising i c i ically o in ellec ual con en ; and he inal app o al o he e sion o be published. F ede ick
Pobee:The concep ion and design, o analysis and in e p e a ion o he da a; he d a ing o he pape , e ising i
c i ically o in ellec ual con en ; and he inal app o al o he e sion o be published. Saika Gochhai :Re ising i
c i ically o in ellec ual con en ; and he inal app o al o he e sion o be published. Ri esh Chugh:Re ising i c i -
ically mul iple imes o in ellec ual con en and low; and he inal app o al o he e sion o be published. All
au ho s ag ee o be accoun able o all aspec s o he wo k.
FUNDING
No unding was ecei ed.
Disclosu e s a emen
No po en ial con lic o in e es was epo ed by he au ho (s).
COGENT ECONOMICS & FINANCE 17
Abou he au ho s
D . Abdul Bashi u Jib il is a Senio Lec u e in Ma ke ing and S a egy a Wes mins e In e na ional
Uni e si y in Tashken , Uzbekis an (An Acc edi ed Ins i u ion o he Uni e si y o Wes mins e , UK).
Jib il’s esea ch spans a ious domains including Technology adop ion, Fin ech, social media ana-
ly ics, se ice ma ke ing, b and managemen , and sus ainable e- ou ism. Passiona e abou le e ag-
ing da a mining echniques o ex ac in elligence o enhanced business decision-making,
pa icula ly in eme ging and de eloping economies. He has been ins umen al in leading and pa -
icipa ing in esea ch eams execu ing ex e nal p ojec s ac oss Eu ope and A ica. His esea ch ou -
comes ha e made signi ican con ibu ions o impac ul ABS/ABDC/WoS/Scopus anking jou nals
such as he In e na ional Jou nal o In o ma ion Managemen , In e na ional Jou nal o Consume S udies, Se ice
Sciences and Cogen Business & Managemen . Addi ionally, his insigh s ha e been ea u ed in es eemed book chap-
e s published by Sp inge and con e ence p oceedings. Jib il’s academic in luence ex ends globally, as e idenced
by his ac i e pa icipa ion and p esen a ions a nume ous in e na ional scien i ic con e ences hos ed in coun ies
including he USA, UK, F ance, Ge many, and Saudi A abia. In he schola ly communi y, he se es as an Associa e
Edi o o Cogen Business and Managemen (Taylo & F ancis), an Edi o ial Re iew Boa d Membe o he
In e na ional Jou nal o Neu oscience and Neu oin o ma ics (IJNN) (IGI Global), and a Sec ional Edi o o Cu en
Social Sciences (Ben ham Science Publishe s).
D . F ede ick Pobee is a lec u e a he depa men o Business Adminis a ion a he Uni e si y o P o essional
S udies, Acc a. He has a PhD in Business Adminis a ion om he Uni e si y o P
ecs in Hunga y. His esea ch in e es
co e s inancial echnology, e-comme ce, inno a i e en ep eneu ship, and ICT4D.
D . Saika Gochhai eaches a Symbiosis Ins i u e o Digi al & Telecom Managemen , Symbiosis
In e na ional Deemed Uni e si y Pune, India and Neu osciences Resea ch Ins i u e-Sama a S a e
Medical Uni e si y, Russia. He is Ph.D and Pos -Doc o al Fellow om he UEx, Spain and Na ional
Dong Hwa Uni e si y, Taiwan. He was Awa ded DITA and MOFA Fellowship in 2017 and 2018. His
esea ch publica ion wi h o eign au ho s is indexed in Scopus, ABDC, and Web o Science. He is a
Senio IEEE membe .
D . Ri esh Chugh is an In o ma ion and Communica ions Technology Associa e P o esso a Cen al
Queensland Uni e si y’s School o Enginee ing and Technology, Aus alia. As a socio- echnological
expe , his esea ch ocuses on he social ole o in o ma ion sys ems and hei in luence on
humans and o ganisa ions. He akes an in e disciplina y esea ch app oach in a eas such as in o -
ma ion sys ems managemen , educa ional sys ems, and echnology-enhanced lea ning, wi h his
esea ch ea u ed in leading academic jou nals. His dedica ion o excellence in eaching and
esea ch ac i i ies has ea ned him nume ous accolades, including he na ional Bes P ac ice in
In e na ional Educa ion Awa d om he In e na ional Educa ion Associa ion o Aus alia and he
Dean’s Awa d o Mid-Ca ee Resea ch Excellence. He has also been honou ed wi h he Vice-Chancello ’s Awa d o
Good P ac ice in Lea ning and Teaching.
ORCID
Abdul Bashi u Jib il h p://o cid.o g/0000-0003-4554-0150
F ede ick Pobee h p://o cid.o g/0000-0001-5721-506X
Saika Gochhai h p://o cid.o g/0000-0003-4583-9208
Ri esh Chugh h p://o cid.o g/0000-0003-0061-7206
Da a a ailabili y s a emen
Da a is a ailable upon easonable eques .
Re e ences
Aga wal, G. K., Simonsson, J., Magnusson, M., Hald, K. S., & Johanson, A. (2022). Value-cap u e in digi al se i iza ion.
Jou nal o Manu ac u ing Technology Managemen ,33(5), 986–1004. h ps://doi.o g/10.1108/JMTM-05-2021-0168
18 A. B. JIBRIL ET AL.
Ak e , S., Mo ama i, S., Hani, U., Shams, R., Fe nando, M., Babu, M. M., & Shen, K. N. (2020). Building dynamic se ice
analy ics capabili ies o he digi al ma ke place. Jou nal o Business Resea ch,118, 177–188. h ps://doi.o g/10.
1016/j.jbus es.2020.06.016
Albash awi, M., & Mo iwalla, L. (2017, June). Unde s anding mobile banking usage: an in eg a i e pe spec i e. In
P oceedings o he 2017 ACM SIGMIS Con e ence on Compu e s and People Resea ch (pp. 63–70.).
Alin, A. (2010). Mul icollinea i y. WIREs Compu a ional S a is ics,2(3), 370–374. h ps://doi.o g/10.1002/wics.84
Al-Jab i, I. M., & Sohail, M. S. (2012). Mobile banking adop ion: Applica ion o di usion o inno a ion heo y. Jou nal
o Elec onic Comme ce Resea ch,13(4), 379–391.
Amma i, N., Ghallali, M., El Kalam, A. A., El Hami, N., Ouahman, A. A., & El Ouahidi, B. (2014). Mobile secu i y: secu i y
mechanisms and p o ec ion o mobile applica ions. Jou nal o Theo e ical & Applied In o ma ion Technology,70(2),
302–315.
And eu, L., S
anchez, I., & Mele, C. (2010). Value co-c ea ion among e aile s and consume s: new insigh s in o he u -
ni u e ma ke . Jou nal o Re ailing and Consume Se ices,17(4), 241–250. h ps://doi.o g/10.1016/j.j e conse .2010.
02.001
A i , I., Aslam, W., & Hwang, Y. (2020). Ba ie s in adop ion o In e ne banking: A s uc u al equa ion modeling –
Neu al ne wo k app oach. Technology in Socie y,61, 101231. h ps://doi.o g/10.1016/j. echsoc.2020.101231
A o a, S., & Sandhu, S. (2018). Usage based upon easons: he case o elec onic banking se ices in India.
In e na ional Jou nal o Bank Ma ke ing,36(4), 680–700. h ps://doi.o g/10.1108/IJBM-03-2017-0060
Bagozzi, R. P., & Yi, Y. (1988). On he e alua ion o s uc u al equa ion models. Jou nal o he Academy o Ma ke ing
Science,16(1), 74–94. h ps://doi.o g/10.1007/BF02723327
Bank o Ghana (BoG). (2022). FinTech S a is ics. Re ie ed July 10, 2023, om h ps://www.bog.go .gh/ in ech-inno -
a ion/ in ech-s a is ics/.
Bapa , D., & Khandelwal, R. (2023). An eceden s and consequences o consume hope o digi al paymen apps se -
ices. Jou nal o Se ices Ma ke ing,37(1), 110–127. h ps://doi.o g/10.1108/JSM-12-2021-0456
B
a iz-Lazo, B., Haigh, T., & S ea ns, D. L. (2014). How he u u e shaped he pas : he case o he cashless socie y.
En e p ise and Socie y,15(1), 103–131. h ps://doi.o g/10.1093/es/kh 024
Baumga , P. (2020). Digi al p icing. In Ra en, V. (Ed.), En ep eneu ial oppo uni ies (pp. 133–146). Eme ald Publishing
Limi ed. h ps://doi.o g/10.1108/978-1-83909-285-520201010
Behe a, R. K., Bala, P. K., Rana, N. P., & Kizgin, H. (2022). Cogni i e compu ing based e hical p inciples o imp o ing
o ganisa ional epu a ion: A B2B digi al ma ke ing pe spec i e. Jou nal o Business Resea ch,141, 685–701. h ps://
doi.o g/10.1016/j.jbus es.2021.11.070
Bellahcene, M., & La eche, H. (2023). E-banking adop ion by alge ian bank cus ome s: Towa ds an in eg a ed model.
In e na ional Jou nal o E-Se ices and Mobile Applica ions,15(1), 1–20. h ps://doi.o g/10.4018/IJESMA.317943
Benama i, J. S., & Se a, M. A. (2007). T us and dis us in online banking: Thei ole in de eloping coun ies.
In o ma ion Technology o De elopmen ,13(2), 161–175. h ps://doi.o g/10.1002/i dj.20059
Be na d Azolibe, C., Okonkwo, J. J., & Obi-Nwosu, V. O. (2023). Technology-based banking and bank deposi : The
Nige ian comme cial banks’expe ience. A ican Jou nal o Science, Technology, Inno a ion and De elopmen ,15(1),
31–44. h ps://doi.o g/10.1080/20421338.2021.2015164
Boakye, D., Sa pong, D., Meissne , D., & O osu, G. (2023). How TalkTalk did he walk-walk: s a egic epu a ional
epai in a cybe -a ack. In o ma ion Technology & People,1–32. h ps://doi.o g/10.1108/ITP-08-2022-0589
Boa eng, H., Adam, D. R., Okoe, A. F., & Anning-Do son, T. (2016). Assessing he de e minan s o In e ne banking
adop ion in en ions: A social cogni i e heo y pe spec i e. Compu e s in Human Beha io ,65, 468–478. h ps://doi.
o g/10.1016/j.chb.2016.09.017
Boa eng, R., Heeks, R., Molla, A., & Hinson, R. (2008). E-comme ce and socio-economic de elopmen : Concep ualizing
he link. In e ne Resea ch,18(5), 562–594. h ps://doi.o g/10.1108/10662240810912783
Bo chway, R. K., Jib il, A. B., Kwa eng, M. A., Cho anco a, M., & Opla ko
a, Z. K. (2019). A e iew o social media
pos s om UniC edi bank in Eu ope: A sen imen analysis app oach. Pape P esen ed a he P oceedings o he 3 d
In e na ional Con e ence on Business and In o ma ion Managemen ,74–79.
Bo chway, R. K., Jib il, A. B., Opla ko
a, Z. K., & Cho anco
a, M. (2020). Deduc ions om a Sub-Saha an A ican
Bank’s Twee s: A sen imen analysis app oach. Cogen Economics & Finance,8(1), 1776006. h ps://doi.o g/10.1080/
23322039.2020.1776006
Came on, A. C., & Windmeije , F. A. (1997). An R-squa ed measu e o goodness o i o some common nonlinea
eg ession models. Jou nal o Econome ics,77(2), 329–342. h ps://doi.o g/10.1016/S0304-4076(96)01818-0
Chen, J. (2021). Ponzi scheme. In es opedia.com. Re ie ed om h ps://www.in es opedia.com/ e ms/p/ponzi-
scheme.asp
Chen, H., & Li, W. (2017). Mobile de ice use s’p i acy secu i y assu ance beha io : A echnology h ea a oidance
pe spec i e. In o ma ion & Compu e Secu i y,25(3), 330–344. h ps://doi.o g/10.1108/ICS-04-2016-0027
Chha wani, M., & Mish a, S. K. (2021). Does inancial li e acy educe inancial agili y du ing COVID-19? The mode -
a ion e ec o psychological, economic and social ac o s. In e na ional Jou nal o Bank Ma ke ing,39(7), 1114–
1133. h ps://doi.o g/10.1108/IJBM-11-2020-0536
Elka awneh, H. H. (2016). Compa ing Quali a i e and Quan i a i e App oaches. Walden Uni e si y –SSRN. 1–5.
COGENT ECONOMICS & FINANCE 19
E en, B. A. (2021). De e minan s o cus ome sa is ac ion in cha bo use: e idence om a banking applica ion in
Tu key. In e na ional Jou nal o Bank Ma ke ing,39(2), 294–311. h ps://doi.o g/10.1108/IJBM-02-2020-0056
Fincog. (2022). Digi al Banking in Sub-Saha an A ica. Re ie ed July 9, 2023 om h ps:// incog.nl/publica ions/23/
digi al-banking-in-a ica.
Gau am, D. K., & Sah, G. K. (2023). Online banking se ice p ac ices and i s impac on e-cus ome sa is ac ion and e-
cus ome loyal y in de eloping coun y o Sou h Asia-Nepal. SAGE Open,13(3), 1–14. h ps://doi.o g/10.1177/
21582440231185580
Gelman, A., Good ich, B., Gab y, J., & Veh a i, A. (2019). R-squa ed o Bayesian eg ession models. The Ame ican
S a is ician,73(3), 307–309. h ps://doi.o g/10.1080/00031305.2018.1549100
Hai , F. J., J ., Sa s ed , M., Hopkins, L., & G. Kuppelwiese , V. (2014). Pa ial leas squa es s uc u al equa ion model-
ing (PLS-SEM) An eme ging ool in business esea ch. Eu opean Business Re iew,26(2), 106–121. h ps://doi.o g/10.
1108/EBR-10-2013-0128
Hai , J. F., J , Howa d, M. C., & Ni zl, C. (2020). Assessing measu emen model quali y in PLS-SEM using con i ma o y
composi e analysis. Jou nal o Business Resea ch,109, 101–110. h ps://doi.o g/10.1016/j.jbus es.2019.11.069
Hensele , J., Ringle, C. M., & Sa s ed , M. (2015). A new c i e ion o assessing disc iminan alidi y in a iance-based
s uc u al equa ion modeling. Jou nal o he Academy o Ma ke ing Science,43(1), 115–135. h ps://doi.o g/10.
1007/s11747-014-0403-8
Hille, P., Walsh, G., & Cle eland, M. (2015). Consume ea o online iden i y he : Scale de elopmen and alida ion.
Jou nal o In e ac i e Ma ke ing,30,1–19. h ps://doi.o g/10.1016/j.in ma .2014.10.001
Hosseini, M., Shaja i, S., & Akba abadi, M. (2020). Iden i ying mul i-channel alue co-c ea o g oups in he banking
indus y. Jou nal o Re ailing and Consume Se ices,65(2022), 102312. h ps://doi.o g/10.1016/j.j e conse .2020.
102312
Howah, K., & Chugh, R. (2019). Do we us he In e ne ?: Igno ance and o e con idence in downloading and ins al-
ling po en ially spywa e-in ec ed so wa e. Jou nal o Global In o ma ion Managemen ,27(3), 87–100. h ps://doi.
o g/10.4018/JGIM.2019070105
Je msi ipa se , K., Wongsuwan, N., & Akkaya, B. (2023). Subjec i e no ms and beha iou al in en ion o e-banking
adop ion: media ing ole o pe cei ed use ulness. In Akkaya, B. & Tabak, A. (Ed.), Two aces o digi al ans o m-
a ion (pp. 177–193). Eme ald Publishing Limi ed. h ps://doi.o g/10.1108/978-1-83753-096-020231013
Jib il, A. B., Kwa eng, M. A., Bo chway, R. K., Bode, J., & Cho anco a, M. (2020a). The impac o online iden i y he
on cus ome s’willingness o engage in e-banking ansac ion in Ghana: A echnology h ea a oidance heo y.
Cogen Business & Managemen ,7(1), 1832825. h ps://doi.o g/10.1080/23311975.2020.1832825
Jib il, A. B., Kwa eng, M. A., Cho anco
a, M., & Bode, J. (2020b). Do socio-economic ac o s impede he engagemen
in online banking ansac ions? E idence om Ghana. Banks and Bank Sys ems,15(4), 1–14. h ps://doi.o g/10.
21511/bbs.15(4).2020.01
Jib il, A. B., Kwa eng, M. A., Pilik, M., Bo ha, E., & Osakwe, C. N. (2020c). Towa ds unde s anding he ini ial adop ion
o online e ail s o es in a low in e ne pene a ion con ex : An explo a o y wo k in Ghana. Sus ainabili y,12(3),
854. h ps://doi.o g/10.3390/su12030854
Jim
enez, J. R. Z., & D
ıaz, I. A. (2019). Educa ional le el and In e ne banking. Jou nal o Beha io al and Expe imen al
Finance,22,31–40. h ps://doi.o g/10.1016/j.jbe .2019.01.004
Kalyana am, G., Saini, G., Mony, S., & Jayasanka an, N. (2022). Beha io al esponse o online p icing: empi ical and
manage ial insigh s. Jou nal o Indian Business Resea ch,14(2), 167–185. h ps://doi.o g/10.1108/JIBR-07-2021-0281
Kasuya, E. (2019). On he use o R and R squa ed in co ela ion and eg ession ( ol. 34, No. 1, pp. 235–236). John
Wiley & Sons, Inc.
Kennedy, H. (2012). Pe spec i es on sen imen analysis. Jou nal o B oadcas ing & Elec onic Media,56(4), 435–450.
h ps://doi.o g/10.1080/08838151.2012.732141
Khan, G. F., Sa s ed , M., Shiau, W.-L., Hai , J. F., Ringle, C. M., & F i ze, M. P. (2019). Me hodological esea ch on pa -
ial leas squa es s uc u al equa ion modeling (PLS-SEM): an analysis based on social ne wo k app oaches.
In e ne Resea ch,29(3), 407–429. h ps://doi.o g/10.1108/In R-12-2017-0509
Kock, N., & Hadaya, P. (2018). Minimum sample size es ima ion in PLS-SEM: The in e se squa e oo and gamma-
exponen ial me hods. In o ma ion Sys ems Jou nal,28(1), 227–261. h ps://doi.o g/10.1111/isj.12131
Kuma , R., Singh, R., Kuma , K., Khan, S., & Co ello, V. (2023). How does pe cei ed isk and us a ec mobile bank-
ing adop ion? Empi ical e idence om India. Sus ainabili y,15(5), 4053. h ps://doi.o g/10.3390/su15054053
Kwa eng, M. A., Jib il, A. B., Bo chway, R. K., Kwa eng, O. V., Pilik, M., & Cho anco a, M. (2019. Sep embe ).
Assessing p e-pu chase isk a ibu es owa ds used-p oduc s: e idence om e-shoppe s in he Czech Republic.
P oceedings o he 3 d In e na ional Con e ence on Business and In o ma ion Managemen (pp. 15–20).
Kwa eng, K., Osei-Wusu, E., & Amano , K. (2019). Explo ing he e ec o online banking on bank pe o mance using
da a en elopmen analysis. Benchma king: An In e na ional Jou nal,27(1), 137–165. h ps://doi.o g/10.1108/BIJ-06-
2018-0154
La bi, S. O. (2016). Collapse o DKM due o unsus ainable se ices – inance minis e . Re ie ed om h ps://kasapa -
monline.com/2016/02/collapse-o -dkm-due- o-unsus ainable-se ices- inanceminis e /
Laukkanen, T., & Ki iniemi, V. (2010). The ole o in o ma ion in mobile banking esis ance. In e na ional Jou nal o
Bank Ma ke ing,28(5), 372–388. h ps://doi.o g/10.1108/02652321011064890
20 A. B. JIBRIL ET AL.
Lee, J.-M., & Kim, H.-J. (2020). De e minan s o adop ion and con inuance in en ions owa d In e ne -only banks.
In e na ional Jou nal o Bank Ma ke ing,38(4), 843–865. h ps://doi.o g/10.1108/IJBM-07-2019-0269
Lian, J., & Yen, D. C. (2014). Compu e s in human beha io online shopping d i e s and ba ie s o olde adul s: age
and gende di e ences. Compu e s in Human Beha io ,37, 133–143. h ps://doi.o g/10.1016/j.chb.2014.04.028
Liang, H., & Xue, Y. (2009). A oidance o in o ma ion echnology h ea s: A heo e ical pe spec i e. MIS Qua e ly,
33(1), 71–90. h ps://doi.o g/10.2307/20650279
Maina des, E. W., Teixei a, A., & Romano, P. C. D. S. (2017). De e minan s o co-c ea ion in banking se ices.
In e na ional Jou nal o Bank Ma ke ing,35(2), 187–204. h ps://doi.o g/10.1108/IJBM-10-2015-0165
Mala , D. A., A idsson, V., & Holms om, J. (2019). Digi al ans o ma ion in banking: explo ing alue co-c ea ion in
online banking se ices in India. Jou nal o Global In o ma ion Technology Managemen ,22(1), 7–24. h ps://doi.
o g/10.1080/1097198X.2019.1567216
Ma o oy, A., & San os, J. (2012). Co-c ea ion and co-p o i ing in inancial se ices. In e na ional Jou nal o
En ep eneu ship and Inno a ion Managemen ,16(1/2), 114–135. h ps://doi.o g/10.1504/IJEIM.2012.050446
Mb okoh, A. S. (2016). Explo ing he ac o s ha in luence he adop ion o In e ne banking in Ghana. Jou nal o
In e ne Banking and Comme ce,21(2), 1–20.
Mye s, M. D., & A ison, D. (2002). Quali a i e esea ch in in o ma ion sys ems: A eade . Sage.
Naeem, M., Jawaid, S., & Mus a a, S. (2022). E olu ion o modi ied TAM associa ed wi h e-banking se ices adop ion:
a sys ema ic PRISMA e iew om 1975 o 2021. Jou nal o Modelling in Managemen ,18(3), 942–972. h ps://doi.
o g/10.1108/JM2-10-2021-0251
Namahoo , K. S., & Laoha ichien, T. (2018). Assessing he in en ions o use In e ne banking: The ole o pe cei ed
isk and us as media ing ac o s. In e na ional Jou nal o Bank Ma ke ing,36(2), 256–276. h ps://doi.o g/10.
1108/IJBM-11-2016-0159
Nimako, S. G., Gyam i, N. K., & Wandaogou, A. M. M. (2013). Cus ome sa is ac ion wi h In e ne banking se ice qual-
i y in he Ghanaian banking indus y. In e na ional Jou nal o Scien i ic & Technology Resea ch,2(7), 165–175.
Nujen, B. B., Solli-Sæ he , H., Mwesiumo, D., & Hamme , B. (2021). Repu a ional isk as a ac o in he o sho e loca-
ion choice. Jou nal o Pu chasing and Supply Managemen ,27(2), 100682. h ps://doi.o g/10.1016/j.pu sup.2021.
100682
Nwaiwu, F., Kwa eng, M. A., Jib il, A. B., Bu
i a, L., & Pilik, M. (2020). Impac o secu i y and us as ac o s ha in lu-
ence he adop ion and use o digi al echnologies ha gene a e, collec and ansmi use da a. 1–12 [Pape p esen-
a ion]. Pape P esen ed a he ICCWS 2020 15 h In e na ional Con e ence on Cybe Wa a e and Secu i y. h ps://
doi.o g/10.34190/ICCWS.20.016
O ei, M. O., & Nuamah-Gyamb ah, K. (2016). The con ibu ion o elec onic banking o cus ome sa is ac ion: a case
o GCB bank Limi ed-Ko o idua. In e na ional Jou nal o Managing In o ma ion Technology,8(1), 01–11. h ps://doi.
o g/10.5121/ijmi .2016.8101
O o i, E. (2020). The e ec s o Ponzi schemes and e oca ion o licences o some inancial ins i u ions on inancial
h ea in Ghana. Jou nal o Financial C ime,30(2), 583–593. h ps://doi.o g/10.1108/JFC-01-2020-0003
O o i, K., Boa eng, H., Okoe, A., & G ozdano ic, I. (2017). Examining cus ome s’con inuance in en ions
owa ds In e ne banking usage. Ma ke ing In elligence & Planning,35(6), 756–773. h ps://doi.o g/10.1108/MIP-11-
2016-0214
Ohiani, A. S. (2020). Technology inno a ion in he Nige ian banking sys em: p ospec s and challenges. Rajagi i
Managemen Jou nal,15(1), 2–15. h ps://doi.o g/10.1108/RAMJ-05-2020-0018
Oko o, E. G., & Kigho, P. E. (2013). The p oblems and p ospec s o E- ansac ion (The Nige ian pe spec i e). Jou nal
o Resea ch in In e na ional Business and Managemen ,3(1), 10–16.
Page, K., & Uncles, M. (2004). Consume knowledge o he Wo ld Wide Web: Concep ualiza ion and measu emen .
Psychology & Ma ke ing,21(8), 573–591. h ps://doi.o g/10.1002/ma .20023
Payne, A. F., S o backa, K., & F ow, P. (2008). Managing he co-c ea ion o alue. Jou nal o he Academy o Ma ke ing
Science,36(1), 83–96. h ps://doi.o g/10.1007/s11747-007-0070-0
Pe kins, E. Z. D., & Annan, J. (2013). Fac o s a ec ing he adop ion o online banking in Ghana: implica ions o bank
manage s. In e na ional Jou nal o Business and Social Resea ch,3(6), 94–108.
Podsako , P., MacKenzie, S., Lee, J., & Podsako , N. (2003). Common Me hod Biases in Beha io al Resea ch: A c i ical
common me hod biases in beha io al esea ch: A c i ical. The Jou nal o Applied Psychology,88(5), 879–903.
h ps://doi.o g/10.1037/0021-9010.88.5.879
Ra dinal, W., & Senalasa i, W. (2021). P edic ing he adop ion o mobile paymen applica ions du ing he COVID-19
pandemic. In e na ional Jou nal o Bank Ma ke ing,39(6), 984–1002. h ps://doi.o g/10.1108/IJBM-10-2020-0532
Rahi, S. (2017). Resea ch design and me hods: A sys ema ic e iew o esea ch pa adigms, sampling issues and
ins umen s de elopmen . In e na ional Jou nal o Economics & Managemen Sciences,6(2), 1–5. h ps://doi.o g/10.
4172/2162-6359.1000403
Rahi, S., & Ghani, M. A. (2019). In eg a ion o DeLone and McLean and sel -de e mina ion heo y in In e ne banking
con inuance in en ion con ex . In e na ional Jou nal o Accoun ing & In o ma ion Managemen ,27(3), 512–528.
h ps://doi.o g/10.1108/IJAIM-07-2018-0077
COGENT ECONOMICS & FINANCE 21
Rahi, S., Alghizzawi, M., & Ngah, A. H. (2023). Fac o s in luence use ’s in en ion o con inue use o e-banking du ing
COVID-19 pandemic: he nexus be ween sel -de e mina ion and expec a ion con i ma ion model. Eu oMed Jou nal
o Business,18(3), 380–396. h ps://doi.o g/10.1108/EMJB-12-2021-0194
Ra hnayake, N.D.N.B. (2023). The e a o he ansi ion –F om adi ional o digi al banking. In Saini, A. and Ga g, V.
(Ed.) T ans o ma ion o sus ainable business and managemen p ac ices: Explo ing he spec um o Indus y 5.0 (pp.
41–55). Eme ald Publishing Limi ed. h ps://doi.o g/10.1108/978-1-80262-277-520231005
Rawashdeh, A. (2015). Fac o s a ec ing adop ion o in e ne banking in Jo dan: Cha e ed accoun an ’s pe spec i e.
In e na ional Jou nal o Bank Ma ke ing,33(4), 510–529. h ps://doi.o g/10.1108/IJBM-03-2014-0043
Rhoa, H., & Yub, I. (2011). The impac o in o ma ion echnology h ea a oidance ac o s on a oidance beha io o
use . Dep. Bus. Manag. Sunc. Na l. Uni .h ps://www.seman icschola .o g/pape /The-impac -o -in o ma ion- echnol-
ogy- h ea - ac o s-Rhoa/a9e931b792c403 49a91a1dbd d bc34b92 1d8c
Roszkowska, P. (2020). Fin ech in inancial epo ing and audi o aud p e en ion and sa egua ding equi y in es -
men s. Jou nal o Accoun ing & O ganiza ional Change,17(2), 164–196. h ps://doi.o g/10.1108/JAOC-09-2019-0098
Ro chanaki umnuai, S., & Speece, M. (2003). Ba ie s o In e ne banking adop ion: A quali a i e s udy among co po -
a e cus ome s in Thailand. In e na ional Jou nal o Bank Ma ke ing,21(6/7), 312–323. h ps://doi.o g/10.1108/
02652320310498465
Saadilah, M. R., Hu iya i, R., & Di gan a i, P. D. (2021, Sep embe ). De e mina ion o use sa is ac ion in mobile bank-
ing se ices using he in o ma ion sys ems success model (ISSM) pe spec i e. In 5 h Global Con e ence on
Business, Managemen and En ep eneu ship (GCBME 2020) (pp. 257–263). A lan is P ess.
Sa a i, K., Bisimwa, A., & A mel, M. B. (2020). A i udes and in en ions owa d In e ne banking in an unde de eloped
inancial sec o . PSU Resea ch Re iew,6(1), 39–58. h ps://doi.o g/10.1108/PRR-03-2020-0009
Salme
on, R., Ga c
ıa, C., & Ga c
ıa, J. (2020). O e coming he inconsis ences o he a iance in la ion ac o : A ede-
ined VIF and a es o de ec s a is ical oubling mul icollinea i y. 1–23. a Xi p ep in a Xi :2005.02245.
S
anchez-To es, J. A., Canada, F.-J A., Sando al, A. V., & Alza e, J.-A S. (2018). E-banking in Colombia: ac o s a ou ing
i s accep ance, online us and go e nmen suppo . In e na ional Jou nal o Bank Ma ke ing,36(1), 170–183.
h ps://doi.o g/10.1108/IJBM-10-2016-0145
Sa s ed , M., Radomi , L., Moisescu, O. I., & Ringle, C. M. (2022). La en class analysis in PLS-SEM: A e iew and ecom-
menda ions o u u e applica ions. Jou nal o Business Resea ch,138, 398–407. h ps://doi.o g/10.1016/j.jbus es.
2021.08.051
Sa hye, M. (1999). Adop ion o In e ne banking by Aus alian consume s: an empi ical in es iga ion. In e na ional
Jou nal o Bank Ma ke ing,17(7), 324–334. h ps://doi.o g/10.1108/02652329910305689
Senyo, P. K., & Osabu ey, E. L. (2020). Unea hing an eceden s o inancial inclusion h ough FinTech inno a ions.
Techno a ion,98, 102155. h ps://doi.o g/10.1016/j. echno a ion.2020.102155
Shanka , V., & Meye , J. (2009). The In e ne and In e na ional Ma ke ing. In The SAGE handbook o in e na ional ma -
ke ing. Sage. h ps://doi.o g/10.4135/9780857021007
Sha ma, S. K., & Go indalu i, S. M. (2014). In e ne banking adop ion in India: s uc u al equa ion modeling app oach.
Jou nal o Indian Business Resea ch,6(2), 155–169.
S a is a. (2022). Pene a ion a e o online banking in Ghana om 2013 o 2028. Re ie ed, July 10, 2023, om
h ps://www.s a is a.com/ o ecas s/1150368/online-banking-pene a ion- o ecas -in-ghana.
S oica, O., Mehdian, S., & Sa gu, A. (2015). The impac o In e ne banking on he pe o mance o Romanian banks:
DEA and PCA app oach. P ocedia Economics and Finance,20, 610–622. h ps://doi.o g/10.1016/S2212-
5671(15)00115-X
Suh , D. (2006 The basics o s uc u al equa ion modeling [Pape p esen a ion]. P esen ed: I ine, CA, SAS Use G oup
o he Wes e n Region o he Uni ed S a es (WUSS), 1–19.
Thake , H. M. T., Thake , M. A. M. T., Khaliq, A., Pi chay, A. A., & Hussain, H. I. (2021). Beha iou al in en ion and adop-
ion o In e ne banking among clien s’o Islamic banks in Malaysia: an analysis using UTAUT2. Jou nal o Islamic
Ma ke ing,13(5), 1171–1197. h ps://doi.o g/10.1108/JIMA-11-2019-0228
Uche, A. E. (2023). De e minan s o In e ne banking adop ion in Nige ia: case s udy o Union Bank o Nige ia.
In e na ional Resea ch Jou nal o Economics and Finance,5(1), 1–11.
Vale io, M. A., Rod iguez, N., Winkle , P., Lopez, J., Dennison, M., Liang, Y., & Tu ne , B. J. (2016). Compa ing wo sam-
pling me hods o engage ha d- o- each communi ies in esea ch p io i y se ing. BMC Medical Resea ch
Me hodology,16(1), 146. h ps://doi.o g/10.1186/s12874-016-0242-z
Venka esh, V., Mo is, M. G., Da is, G. B., & Da is, F. D. (2003). Use accep ance o in o ma ion echnology: Towa d a
uni ied iew. MIS Qua e ly,3,27, 425–478. h ps://doi.o g/10.2307/30036540
Vinodhini, G., & Chand aseka an, R. (2012). Sen imen analysis and opinion mining: A su ey. In e na ional Jou nal,
2(6), 282–292.
Walsh, G., Hille, P., & Cle eland, M. (2016 Fea ing online iden i y he : A segmen a ion s udy o online cus ome s
[Pape p esen a ion]. Twen y-Fou h Eu opean Con e ence on In o ma ion Sys ems (ECIS),
_
Is anbul, Tu key, 1–13.
Wang, M., Cho, S., & Den on, T. (2017). The impac o pe sonaliza ion and compa ibili y wi h pas expe ience on
e-banking usage. In e na ional Jou nal o Bank Ma ke ing,35(1), 45–55. h ps://doi.o g/10.1108/IJBM-04-2015-0046
Wei, L., & Zhang, M. (2008). The impac o In e ne knowledge on college s uden s’in en ion o con inue o use he
In e ne . In o ma ion Resea ch: An In e na ional Elec onic Jou nal,13(3), 1–18.
22 A. B. JIBRIL ET AL.
Wi schey, J., Zielinska, O., Welk, A., Mu phy-Hill, E., Mayho n, C., & Zimme mann, T. (2015 Quan i ying de elope s’
adop ion o secu i y ools. Pape p esen ed [Pape p esen a ion]. A he P oceedings o he 2015 10 h Join
Mee ing on Founda ions o So wa e Enginee ing, 260–271. h ps://doi.o g/10.1145/2786805.2786816
Yaseen, S. G., & El Qi em, I. A. (2018). In en ion o use e-banking se ices in he Jo danian comme cial banks.
In e na ional Jou nal o Bank Ma ke ing,36(3), 557–571. h ps://doi.o g/10.1108/IJBM-05-2017-0082
Yiu, C. S., G an , K., & Edga , D. (2007). Fac o s a ec ing he adop ion o In e ne Banking in Hong Kong—
Implica ions o he banking sec o . In e na ional Jou nal o In o ma ion Managemen ,27(5), 336–351. h ps://doi.
o g/10.1016/j.ijin omg .2007.03.002
Yu, C.-S. (2012). Fac o s a ec ing indi iduals o adop mobile banking: Empi ical e idence om he UTAUT model.
Jou nal o Elec onic Comme ce Resea ch,13(2), 104–121.
Zanoon, N., & Gha aibeh, N. (2013). The impac o cus ome knowledge on he secu i y o e-banking. In e na ional
Jou nal o Compu e Science and Secu i y,7(2), 81–92.
Zhang, L., Yi, Y., & Zhou, G. (2022). Cul i a e cus ome loyal y in na ional cul u e: A me a-analysis o elec onic bank-
ing cus ome loyal y. C oss Cul u al & S a egic Managemen ,29(3), 698–728. h ps://doi.o g/10.1108/CCSM-08-
2021-0155
Zhixia, C., Hossen, M. M., Muza a y, S. S., & Begum, M. (2018). G een banking o en i onmen al sus ainabili y-p esen
s a us and u u e agenda: Expe ience om Bangladesh. Asian Economic and Financial Re iew,8(5), 571–585.
h ps://doi.o g/10.18488/jou nal.ae .2018.85.571.585
COGENT ECONOMICS & FINANCE 23
