Dimensions Affecting Consumers' Continued Usage and Frequency of Usage of Internet Banking: Empirical Evidence from Australia

The goal of this study was to investigate the factors affecting consumers' continued usage and frequency of usage of internet banking in the Australian context. A survey research methodology was used to gather quantitative data from a cross-sectional mall intercept survey in Sydney comprising a sample of 372 internet banking users. The survey comprised technology, channel, social, value and usage dimensions represented as scale items. After testing the data for normality and goodness of fit assumptions, exploratory factor analysis was performed for factor identification. Scale items were checked further for their reliabilities. The final factors identified were employed in hierarchical multiple regression and hierarchical logistic regression analyses to test the proposed framework, while controlling for the demographic characteristics. Several major substantive findings emerged from the present study. Value dimensions significantly and positively influenced consumers' continued usage as well as frequency of usage of internet banking. Channel dimensions identified as perceived safety and perceived specialty factor labels demonstrated a significant impact on consumers' usage of internet banking on a continual basis. With regard to consumers' frequency of usage the measure of perceived safety was found to be significant and perceived specialty to be non-significant. Among the influence exerted by the technology dimensions, measures identified as attraction to usability and attraction to trialability were found to exert significant and positive influence on consumers' continued usage and frequency of usage of internet banking. Social dimensions were found to be non-significantly associated with consumers' continued usage and frequency of usage of internet banking. This study provides important implications for effective banking channel management and formulation strategies apart from identifying the relative importance of the various factors asserted from the customers perspective.