The Effect of Consumers’ Perceived Value on Acceptance of an Internet-Only Bank Service

Abstract

This study focuses on perceived value, which is not mentioned in previous internet-only bank studies, to analyze the popularity of internet-only banks. It does this by exploring the relationships between the perceived value and usage intention of customers. The purpose of this study is to help us understand customers’ decision making to accept innovative services by finding factors that affect consumer acceptance of internet-only banks. Using multiple regression, this study analyzes data gathered from college students in their 20s who are familiar with IT services and are interested in internet-only banks. The results show that all three components of perceived value (economical value, convenience value, and emotional value) increase usage intention. Convenience value is the most important factor in the acceptance of internet-only banking services. The findings indicate that perceived value is an attractive factor in using internet-only banks and suggest that managing and developing perceived value is an important marketing strategy.

The Effect of Choice Attributes of Internet Specialized Banks on Integrated Loyalty: The Moderating Effect of Gender

“…Second, Ahn and Lee [13] analyzed the relationship between perceived value (economic value, convenience value, and emotional value) and usage intention in the research on Internet specialized banks as behavioral models. Convenience value was found to have the most influence on usage intention.…”

“…They used emotion, ambiance, and staff attitude as service attributes in casino services. Ahn and Lee [13] examined how economical, convenience, and emotional values affect usage intention in the Internet special bank sector. Lee [14] presented quality of information, transaction, website design, communication, and security as e-SERVQUAL when existing online service evaluation criteria.…”

An empirical study on factors affecting customers’ acceptance of internet-only banks in Korea

“…However, despite the growing weight and interest in internet-only banks in the global financial industry, and the fact that studies on internet banking and mobile banking, which are the previous innovations of internet-only banks, are published frequently every year, little is known about the customer acceptance of internet-only banks, which are the latest fintech. Although recently some studies on customer acceptance of Internet-only banks have been published, these studies focus on specific factors such as trust (Kaabachi et al, 2017;Zhang et al, 2018) and perceived value (Ahn & Lee, 2019). Therefore, it is necessary to identify customers' acceptance factors for internet-only banks from a comprehensive perspective in order to promote research into new areas, internet-only banks.…”

Is bank staff interaction associated with customer saving behavior in banks?

“…In recent years, the trend is for banks to have fewer bank branches (FDIC, 2015) and bank tellers (U.S. Bureau of Labor Statistics, 2019). Instead, banks are generally investing in technology to offer online and mobile banking, teller‐less branches (Bhattarai, 2016), and branchless banking (i.e., internet‐only banks) (Ahn and Lee, 2019). The rate of bank branch closures and bank mergers is at the fastest pace in decades in response to less consumer demand for face‐to‐face interaction (FDIC, 2015).…”

“…First, customers gain convenience and time savings due to the ability to conduct transactions and access information without necessarily traveling to the bank, at convenient hours and days, and without waiting in line (van Birgelen et al ., 2006). For banks, lower costs associated with automation and decreased labor costs are advantages of technology (Ahn and Lee, 2019; Li and Huang, 2019). Banks may also realize profit and market advantage benefits from cross‐selling, service innovations, customization, and flexibility through technology (Bitner et al ., 2000).…”