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http://dx.doi.org/10.13106/jafeb.2021.vol8.no12.0509

Components Affecting Intention to Use Digital Banking Among Generation Y and Z: An Empirical Study from the Philippines  

TUGADE, Christian (College of Business Graduate Studies, Polytechnic University of the Philippines)
REYES, Jenny (College of Business Graduate Studies, Polytechnic University of the Philippines)
NARTEA, Mecmack (College of Business Graduate Studies, Polytechnic University of the Philippines)
Publication Information
The Journal of Asian Finance, Economics and Business / v.8, no.12, 2021 , pp. 509-518 More about this Journal
Abstract
Amid the Covid pandemic surge last year, customers and businesses started embracing digital transactions. Digital banking, as an answer to the cash-less-contact-less way of doing financial transactions, was highly convenient during the pandemic, especially in the Philippines. This position examines the Gen Y and Gen Z in the Philippine case and its willingness to encourage digitalization of the financial sector. This study aimed at evaluating the intention to use digital banking services using the factors (1) ease of use; (2) perceived usefulness; (3) perceived risk; (4) trust; (5) convenience. A total of 226 respondents were selected by random sampling method and linear regression was used to analyse the collected data. Analysis of the results show that the components (1) perceived ease of use; (2) perceived usefulness; (3) perceived risk; (4) trust; (5) convenience had a significant effect on intention to use digital banking while the demographics - gender, age, monthly income, and educational attainment do not have any significance on the intention to use digital banking. The relevance of the study can be used for marketing and financial strategies to increase the intention to use digital banking and to contribute to the enhancement of technology acceptance concerning digital banking.
Keywords
Digital Banking; Technology Acceptance Model (TAM); Intention to Use; Risk;
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