Predicting mature consumers' attitudes towards use of self-service technologies in the financial services context

Abstract

[Abstract]: The combination of increased numbers of ageing consumers, decreased access to personal services, and reluctance to use self-service technologies (SSTs) among some mature consumers highlighted the need to identify the factors that influence the use of these technologies. In the Australian context, research investigating mature consumers is an emerging area with limited knowledge relating to their use of SSTs. Through extending the original technology acceptance model (TAM), a well-established model from the information technology domain, this thesis incorporated six external variables into the model and investigated the use of SSTs among mature consumers in the financial services context. The thesis also examined the moderating effects of demographic characteristics on the relationships within the extended TAM (ETAM). Using cross sectional data from a sample of 208 mature consumers in Study 1, the original TAM and ETAM were tested. Based on these findings, improvements were made for Study 2, where the modified models were tested on data from a national sample of 2,253 mature consumers. Path analysis indicated that self-efficacy, technology discomfort, perceived risk and personal contact made a significant unique contribution to predicting attitude and behaviour over and above the two belief variables in TAM, perceived usefulness and perceived ease of use. The four variables in the ETAM were significant predictors of perceived usefulness and perceived ease of use. Results also suggested that age and education act as moderating variables in this model. These findings can serve as a basis for designing educational and communication strategies to foster greater use of SSTs in the financial context among mature consumers. A second aim of this thesis was to explore usage patterns of self-service banking technologies (SSBTs) among different segments of the mature consumer market in Australia. The diversity of the mature consumer market was reflected through establishing three behavioural segments, namely non-users, low users and medium-to-high users of SSBTs, providing a deeper understanding of mature consumers’ knowledge and patterns of behaviour towards using these technologies and personal services in the financial context. The findings contributed to the understanding of mature consumers’ behaviour towards SSBTs for academics, financial practice and policy formation by government and not-for-profit senior organisations responsible for improving financial literacy and productive ageing among mature consumers.