Determinants of consumer adoption intention on branchless banking among exsting retail banking consumers in Klang Valley: the moderating effect of e-lifestyle

Banking consumers in Malaysia have had bad experience when using traditional banking services. There are individuals and businesses who have limited access to traditional banking products and services because of low or inconsistent income, poor credit or lack of convenient banking locations. Acceptability of branchless banking's products and services is unknown and insufficient because Malaysians are mostly unfamiliar with the concept of branchless banking. However, some consumers still prefer interacting with traditional banks because they are still confused or do not clearly understand the concept of branchless banking. Traditional consumer profiling approaches, which focus on past performance and existing assets, will not lead to the success of branchless banking in the future. Having a firm grasp on how today's digital consumers behaviour, preferences and choices is essential to fruitful digital transformation efforts. In addition, numerous studies have been done to determine the factors of using digital banking but they ignored the fact that consumers are different in terms of their lifestyle. Therefore, this study empirically investigated the factors that influence consumer to adopt branchless banking. The research model was underpinned by the Extended Unified Theory of Acceptance and Use of Technology (UTAUT2) dimension such as performance expectancy, effort expectancy, social influence, facilitating condition, hedonic motivation, price value and habit which serve as the independent variables. Meanwhile, e-lifestyle was proposed as the moderator to determine the moderating effects on the relationships of performance expectancy, effort expectancy, social influence, facilitating conditions, hedonic motivation, price value, and habit towards consumer adoption intention. In testing the research model, a survey was conducted on 220 existing banking customers in Klang Valley. The collected data were then analysed using the PLS-SEM technique running on SmartPLS 4.0 software. The results revealed that performance expectancy, hedonic motivation, price value, habit and e-lifestyle positively influence banking consumers' intention to adopt branchless banking. However, there is no moderation effect of e-lifestyle on the relationship between all the constructs. Thus, this study contributed to the consumer behaviour body of knowledge by providing tangible statistical evidence of consumer adoption intention on branchless banking.