Abstract

Many banks have introduced e-banking to offer customers round the clock opportunity to their financial needs and reduce cost. Despite its benefit, customers who use e-banking are relatively small and of great concern, are that older people 60years+ appear less willing to adopt e-banking. This research investigated the salient factors that influence older peoples' use of e-banking, with factors generated solely from users and non-users, given that their perception is paramount.

Two qualitative approaches were adopted. Repertory grids interviews (N=26) that explored personal constructs that mediate older peoples' use of e-banking. Results revealed attitudinal issues and misconceptions towards the security of e-banking, though it promoted a more highly structured understanding of their experiences. The method was seen to be challenging regarding concept and practicality. Then, with focus on the entirety of experiences, study two (N=20) explored attitude/preconception towards the security of e-banking, using semi-structured interviews with technology probe of typical e-banking website. Non-users were influenced by memorability and tendencies of being defrauded, while users were overwhelmed by e-banking advantages compared to security and privacy fear.
However, the significant hindrances to e-banking use, as contributed by this research were memory concern, while choosing the appropriate authentication details, like difficulty associated with PIN and password complexity. Misconceptions towards the security of e-banking, also navigation of the e-banking system were revealed to be elaborate, followed by dissatisfaction with the rigorous processes involved in the knowledge and token-based authentication as well as interaction of factors and strategies older users employ. This advance in knowledge was without pre-established adoption models constructs as a guide.

This research revealed that the erroneous supposition about e-banking adoption by older people, based on predicted constructs, does not represent their concerns as they see it. Any attempt by practitioners to develop e-banking system aimed at alleviating older peoples' worries, without understanding their perception about attitude, strategy and social understandings, has a potential of failing in its ultimate goals, and will instead contribute to chances of older people falling victim of fraud. Hence, researchers and e-banking managers should engage in gaining practical insights, incorporating technological probes, which is a useful exploratory tool that refreshes their minds.