Understanding Consumer Adoption of Mobile Banking: Extending the UTAUT2 Model with Proactive Personality

Abstract

Mobile banking is an innovative solution for improving financial inclusion; however, the use of this technology is still very limited in developing countries. Consequently, this study aims to investigate elements affecting mobile banking adoption in a developing country context by applying the well-known Unified Theory of Acceptance and Use of Technology two (UTAUT2) model. Since most existing investigations on mobile banking using the UTAUT2 neglect the effects of personality traits, this investigation extends the UTAUT2 with a new antecedent not considered in previous studies, the consumer proactive personality. This study empirically tests the proposed partial mediation model using path analysis with data collected from Lebanese bank customers who are current non-users of mobile banking. Results show a full mediation model, confirming that some UTAUT2 drivers fully mediate the effect that proactive personality has on consumer intention to adopt mobile banking and highlighting the relevance of proactive personality on all UTAUT2 drivers. This study expands the Unified Theory of Acceptance and Use of Technology two and examines how a personality trait—proactive personality—relates to mobile banking adoption through the UTAUT2 perceptions in a developing country context.