Thesis

Information seeking behaviour of UK retail banking customers towards online purchase adoption: an integrated UTAUT2 model

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Awarding institution
  • University of Strathclyde
Date of award
  • 2025
Thesis identifier
  • T17427
Person Identifier (Local)
  • 202089947
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Abstract
  • Digitization has continued to transform the way we live and work. It is steadily changing the UK retail banking sector, where the rapid adoption of digital business models has led to the closure of traditional bank branches, a trend expected to persist. A smooth transition to a digital service model requires a deeper understanding of consumer behaviour. This study investigates consumer behaviour by integrating the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) with the Everyday Life Information Seeking (ELIS) model as its theoretical framework. A deductive approach was employed, using an online survey distributed nationwide via convenience sampling. A total of 438 responses were received, of which 377 were valid. Findings from five research questions and 18 hypotheses, tested through PLS-SEM and PLS-MGA, highlight challenges in understanding online information available on bank websites, a lack of well-trained advisors, fear, poor user interfaces and complex purchasing processes as key barriers; and the need for information on security, charges, and requirements for tutorials and glossary of terms. Many respondents noted that visiting bank branches is the most preferred information source, suggesting consumers lack the knowledge needed to make online purchasing decisions, and quick access and reliability of information are key determinants of channel choice. Younger consumers are more influenced by perceived information, while older consumers rely more heavily on perceived trust. By integrating UTAUT2 with ELIS, this research advances interdisciplinary collaboration. The proposed integrated model incorporates trust into UTAUT2, a prerequisite for online transactions, and further explores digital information-seeking behaviour through ELIS. Addressing information and trust concerns can enhance technology adoption in financial markets. The qualitative themes identified could inform interview questions for future mixed-method research. Additionally, larger datasets could support multi-group analysis with three classifications, providing deeper insights than a two-group approach.
Advisor / supervisor
  • Harker, Michael (Michael John)
  • Chowdhury, G. G. (Gobinda G.)
Date Created
  • 2024

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