RO2: To study how age, gender, income, marital status, employment status and education of customers affect the use of trends related to online banking (such as frequency and intensity of use). RQ1: In what ways have traditional bank customer behaviors changed in the online banking environment. H4: The gender of a bank customer significantly affects the use of online banking H5: The education of a bank customer is directly proportional to the use of online banking;.
Academically, this research helps establish a better rationale of customer adoption of online banking technologies and provides deep insights into how New Zealand bank customers use online banking services. Age is a frequently studied demographic factor that has important implications for the adoption and use of online banking services. Therefore, the use of online banking services at work (even when they have part-time or full-time jobs outside the home) is very uncommon among women (Lichtenstein & Williamson, 2006).
The above illustration shows a likely relationship between each personal characteristic of a bank customer and his or her use of online banking. An online survey in Qualtrics was used to gauge the use and non-use of online banking among New Zealand customers and how much of this use stems from changes/changes in their personal characteristics.
RESULTS
Online banking channel use is the only factor explained by employment status in the regression model. RQ2: How do users' personal characteristics interact with each other and affect their use of online banking. The online survey includes 56 statements that measure customers' attitudes and perspectives on using online banking.
I am now more aware of my cash flows (in and out) when using online banking functions. An educated person is likely to learn online banking faster than an uneducated person. There have been changes in my use of online banking since I upgraded my phone/tablet.
Revisiting the research questions and hypotheses
Theoretical and Practical Implications
Akinci, Aksoy and Atilgan (2004) report that customer demographics help define segmentation variables based on shared interests. As both branch and online banking services are closely linked with customers' perceptual outcomes, which are also a significant measure of customer satisfaction, it is imperative that these variables and their effects on customers' financial decision-making are appropriately discussed. Academically, this research will help to bridge gaps in the New Zealand research context regarding the demographic effects on customers' use of online banking services.
As New Zealand is a mature mobile market, this study will be an important part of the work reporting on the adoption and usage rates of online banking in New Zealand. The findings of this research will contribute to a better and improved understanding of how customers accept online banking technologies. As discussed in the previous research chapter, limited research has been conducted on this topic in the New Zealand context over the past ten years.
Consequently, this research will serve as an up-to-date version of this study in New Zealand context and will be an important piece of work on the latest technology trends in the New Zealand banking industry. Online banking is the new standard, as in the words of one of our interview participants. Again, to the best of our knowledge, limited work has been undertaken in the New Zealand context.
With this perspective in mind, this research explores the main reasons for customers' use of the web. The practical implications for the research are further divided into two parts: first, we discuss the implications for banking and other financial institutions that may be directly affected by changes in customer banking practices resulting from the adoption and use of online banking. With customers embracing disruptive technologies, it's not enough to entice New Zealand users to adopt online banking simply because of an easy-to-use website.
It is also critical that banks address issues of trust and security to increase the adoption of online banking services in New Zealand. We also emphasize that a better understanding of the effects of social environment on customers' banking behavior will help banks to predict customer choices and preferences. It is also important that customers have an idea of how banks look after customers' needs and preferences, and why the adoption of.
CONCLUSION
This can force customers to share with the bank their satisfaction or dissatisfaction with the services provided. Therefore, the current study can help customers see the bigger picture and notice how changes in their attitudes are measured in the banking industry. This research and previous studies focused on the idea that customers no longer value banking services that do not apply to them - this is a more pressing issue with younger customers.
At a time when customers demand tailored, personalized interactions between businesses and themselves, it is imperative that banks generate personalized customer experiences that take into account the changing preferences, tastes and expectations. The new age customer obviously does not want to be lumped together with other demographic segments and be provided with a one-size-fits-all solution. As every customer demands that companies treat them in a special way, take care of their needs and respond to their demands in an efficient way, this also poses a challenge to the financial sector.
Knowledge of the increasing variability of family composition, for example, equips a bank with considerable knowledge about those it serves and puts them in a safer and better position to gain customer loyalty through lifecycle-based financial solutions for their banking needs. Future studies should investigate the effects or variability of the effects of demographic and perceptual characteristics on bank choice, use of banking services, and length of stay in the bank. Future research may also separate the analysis based on the different devices used to access online banking services to determine how customers' personal characteristics influence their choice.
APPENDIX
Due to the nature of my work, I have easy access to online banking (e.g. for more desk work, access to computers, use of a work phone, etc.). I do not use internet banking because I do not have the latest smart devices to use it. 14. Physical disabilities faced by people over the age of 65 can prompt them to learn how to use online banking.
People aged 65 and over do not use online banking widely because they do not know how to use it. Due to the small screen size on mobile devices, I do larger transactions using online banking through my computer or laptop. I am likely to bounce from bank to bank in search of the best online banking services.
I am more willing to provide personal information about online banking than those older than me. I want to live independently so online banking is more useful for me to do things on my own. In my experience online banking in New Zealand is better than online banking offered by other countries (eg faster, more responsive, more variety in services, more convenient).
My use of online banking has changed since I upgraded my phone/tablet 53. Before we begin the interview Q&A, let me remind you of my definition of online banking that will apply throughout the interview: First, I need to determine whether defined themselves as online banking users or not during the survey.
Have you started using online banking services in the recent past ie within the last 6 months or are you an old user?. How would you describe your current level of knowledge regarding online banking (beginner, intermediate or advanced) OR . e). Explanation in case they don't understand: Would it be variety in their online banking offerings, service readiness, better rates and services, or just because someone.
