Impact of Trust on Continuous Usage within Internet Only Banks (IOB) of the UK: A Quantitative Study on Continuous Trust

Internet-only banks (IOB) are an outcome of the financial technology sector and the latest addition to the banking industry. Despite having tremendous growth in terms of adoption, the industry lacks consumer trust in the UK financial market. The research investigates the impact of trust on continuous usage of internet only bank consumers in the UK to develop a continuous trust framework. A conceptual framework was developed based on the TAM and trust integrated model, IS success model and the trust restoration framework to address the research problem from multidimensional perspectives of trust. The quantitative approach was adapted during this research and primary data was collected from existing users of IOBs in the UK by deploying a self-administered survey questionnaire. Descriptive statistics and the structural equation modelling (SEM) were implemented to analyse the primary data. There were 8 exogenous and 2 endogenous variables in the proposed framework with 9 hypothesised relationships. The findings suggest that continuous trust of IOB users is influenced by their calculative trust, perceived ease of use, perceived usefulness, information quality and transparency of the system. On the contrary, familiarity and institution-based trust factors (Structural assurance and Situational normality) did not have any significant impact on continuous trust of consumers. Furthermore, continuous trust of consumers impacts their continuous usage of the system by means of increasing their usage, recommendation and using it as their primary account in future. The demographic and usage profile findings portray the limited usage pattern of consumers. The study contributes to the theoretical knowledge domain of continuous trust and post adoption literature. Additionally, it draws practical implications and recommendations for the banking industry. Whilst financial technological integration can give traditional banking an edge and advantage over the newcomers in the industry, increasing consumer trust and confidence will be beneficiary for the internet only banks in the long run to achieve consumer loyalty. Further research has been recommended in this sector to investigate regulatory and systematic factors that can contribute towards risk management of the internet only banks. Key words: Continuous trust, consumer behaviour, continuous usage, internet-only banks, financial technology (FinTech).

Name dc:type.qualificationname

phd

Level dc:type.qualificationlevel

doctoral

Grantor dc:publisher.institution

University of Wales Trinity Saint David

Year dc:date.issued

2024

Author dc:creator

• Errom, Aliza

• HG Cyllid
• QA75 Cyfrifiaduron electronig

Dc Identifier Grantnumber

UWTSD

OAI identifier oai:identifier

oai:repository.uwtsd.ac.uk:2920