Title: Factors affecting the adoption of internet banking in Greece

Authors: Prodromos D. Chatzoglou; Sofia E. Kamperidou; Eftichia Vraimaki; Elena Polychrou; Vassilios P. Aggelidis; Anastasios D. Diamantidis

Addresses: Production and Management Engineering Department, Democritus University of Thrace, 12 Vas. Sofias Str., 67100 Xanthi, Greece ' Production and Management Engineering Department, Democritus University of Thrace, 12 Vas. Sofias Str., 67100 Xanthi, Greece ' Production and Management Engineering Department, Democritus University of Thrace, 12 Vas. Sofias Str., 67100 Xanthi, Greece ' Production and Management Engineering Department, Democritus University of Thrace, 12 Vas. Sofias Str., 67100 Xanthi, Greece ' Production and Management Engineering Department, Democritus University of Thrace, 12 Vas. Sofias Str., 67100 Xanthi, Greece ' Production and Management Engineering Department, Democritus University of Thrace, 12 Vas. Sofias Str., 67100 Xanthi, Greece

Abstract: The effect of nine factors on internet banking acceptance is empirically tested, using structural equation modelling. The technology acceptance model was used as the theoretical framework on which a hypothesis was constructed for the association among the model's variables. The results indicate that the quality of internet connection is a strong influencing factor, as is the perceived security of transactions, with both having a strong effect on actual internet banking use. Individuals' willingness to use the service is also significantly affected by these two factors, and can be substantially impaired by an inherent resistance to change. This resistance can be eroded if individuals are made aware of the advantages, such as a saving of time and an increase in convenience, to be gained from shifting to online transactions, and if individuals are reassured about the safety of their transactions.

Keywords: technology acceptance model; TAM; trust; cost of services; structural equation modelling; SEM; Greece; internet banking; e-banking; electronic banking; online banking; internet connection; perceived security; transaction security; resistance to change.

DOI: 10.1504/IJASS.2014.065694

International Journal of Applied Systemic Studies, 2014 Vol.5 No.4, pp.290 - 310

Accepted: 28 Nov 2013
Published online: 14 Nov 2014 *

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