The Risk Suitable Online Banking Adoption Model for Elderly Individuals in Thailand
The Risk Suitable Online Banking Adoption Model for Elderly Individuals in Thailand |
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| © 2025 by IJETT Journal | ||
| Volume-73 Issue-3 |
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| Year of Publication : 2025 | ||
| Author : Adisak Chotitumtara, Kanokkarn Snae Namahoot |
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| DOI : 10.14445/22315381/IJETT-V73I3P136 | ||
How to Cite?
Adisak Chotitumtara, Kanokkarn Snae Namahoot, "The Risk Suitable Online Banking Adoption Model for Elderly Individuals in Thailand," International Journal of Engineering Trends and Technology, vol. 73, no. 3, pp. 517-530, 2025. Crossref, https://doi.org/10.14445/22315381/IJETT-V73I3P136
Abstract
This study examines the factors influencing the adoption of online banking among elderly individuals in Thailand. Specifically, it explores the relationship between six dimensions of perceived risk—-financial, performance, privacy, security, social, and time risk—-and the role of electronic Word-Of-Mouth (e-WOM) in shaping behavioral intentions toward online banking adoption. A multi-stage sampling approach was employed to collect data from 480 respondents in Thailand, and Structural Equation Modeling (SEM) was utilized for data analysis. The findings indicate that perceived risk and e-WOM significantly impact the adoption and usage of online banking among the elderly. Perceived risk plays a crucial role in shaping users' decisions, while e-WOM serves as a mediating factor between perceived risk and behavioral intention. These results underscore the importance of managing perceived risks and leveraging positive e-WOM to encourage online banking adoption among elderly users. This study offers practical implications for two key stakeholders. First, online banking developers can use these insights to design user-friendly and accessible banking systems that align with the needs and lifestyles of elderly users. Second, executives and policymakers can develop strategic initiatives and regulatory frameworks that mitigate perceived risks while enhancing consumer trust and engagement. To providing a comprehensive understanding of the factors influencing online banking adoption among the elderly, this research contributes to the existing literature and offers actionable insights for enhancing user acceptance and engagement with digital financial services.
Keywords
Online banking, Perceived risk, e-WOM, Behavioral intentions, SEM.
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