Understanding the Key Drivers of Intentions to Use Digital Banking Services in Malaysia

Digital bank is an emerging trend in the global banking industry. Digital bank is the digitisation of every scheme and activity carried out by both the financial institution and its customers included. Malaysia is a cash-based society, so digital banking will be a disruptive digital transformation for Malaysians. Hence, the purpose for this study is to investigate the key factors affecting Malaysian consumers“ intention to use digital bank. The model included eight constructs, which are performance expectancy, effort expectancy, social influence, facilitating conditions, hedonic motivation, price value, habit and trust. On the other hand, the dependent variable in this study is intention to use. A total of 203 questionnaires were collected for this study and the data collected were analysed by Partial Least Square Structural Equation Modelling (PLS-SEM 4). The results of the study revealed that hedonic motivation and performance expectancy were significantly related to intention to use. This study will contribute to the government and developers to help the government and companies that will be involved in this area to understand the consumer's intention and concern towards digital bank and the direction of development and improvement of digital banking.