Consumer adoption and diffusion of technological innovations: A case of electronic banking technologies.

摘要

This study examines consumer adoption and diffusion of technological innovations, specifically electronic banking technologies. Electronic banking technologies refer to all the financial activities involving electronic technology such as Automated Teller Machines (ATM), debit cards, direct deposit/payment, and computer banking. This study presents a conceptual model of consumer adoption and diffusion of technological innovations postulating that an individual consumer's adoption of a technological innovation is influenced by the interrelated influences of consumer, innovation, and communication factors. Three independent yet related studies are conducted to examine the influencing factors on consumer adoption of electronic banking employing two nationally representative databases: The 1995 Survey of Consumer Finances (SCF) commissioned by Federal Reserve Board, and the 1999 Survey of Consumers conducted by Institute of Social Research at University of Michigan.; The first study examines consumer factors, specifically the extents of diffusion of ATM, debit cards, smart cards, direct deposit, and direct payment along with the characteristics of adopters and non-adopters. The second study investigates the impacts of perceived innovation characteristics and individual socioeconomic characteristics on consumer adoption of both mature and newer innovations, i.e., ATM and computer banking. The third study explores communication strategy to facilitate diffusion of technological innovations with a proposed taxonomy of channel and communication mode.; The three research studies reveal that consumer adoption and diffusion of electronic banking technologies are affected by the joint influences of consumer, innovation, and communication factors. Among these factors, consumers' perceptions of innovations rather than consumers' demographic characteristics are a more important determining factor of their adoption of technological innovations. In addition, when predicting adoption of newer innovations, accessibility needs to be considered to reduce sample selection bias. The diffusion agents, such as financial institutions and the government, can positively influence consumer adoption of electronic banking technologies through appropriate communication efforts. In order to facilitate consumer adoption, it is necessary to promote convenient, secure, reliable, and easy-to-use features of electronic banking to potential adopters by employing appropriate channel and communication mode.