EXPLORING FACTORS INFLUENCING CUSTOMERS’ ADOPTION OF DIGITAL BANKING IN AZERBAIJAN
EXPLORING FACTORS INFLUENCING CUSTOMERS’ ADOPTION OF DIGITAL BANKING IN AZERBAIJAN

Summary/Abstract: This study investigates the determinants that affect consumers' intentions to adopt digital banking in Azerbaijan. The study's primary purpose is to suggest and analyze a conceptual model that most accurately describes the main determinants affecting Azerbaijani consumers' intentions and UB. The Unified Theory of Acceptance and Use of Technology (UTAUT) model, which was originally proposed by Venkatesh et al. (2003), was used in the study. Based on the findings of Sarfaraz (2017) and Martins et al. (2014), the UTAUT model is further expanded by incorporating external risk perception and trust factors. The data was collected by distributing an online five-point Likert scale questionnaire using convenience and snowball sampling techniques. A total of 455 questionnaires were collected, but only 337 of them (with a response rate of 74%) were considered valid. AMOS 26 and SPSS 28 software were used to analyze the data obtained from the surveys given to clients of Azerbaijani banks. The obtained data is first evaluated using descriptive statistics. The evaluation of the measurement and structure model was carried out with the use of structural equation modeling. According to the findings, SI (P =.113, p < .032), trust (P =.261, p < .001), and FC (P =.332, p < .001) had a significant influence on BI, whereas BI (P =.318, p < .001) and FC (P =.208, p < .001) significantly predicted UB. On the other hand, PE, EE, and risk perception had no significant influence on BI. This research provides Azerbaijani banks with some suggestions for building and promoting such channels to increase their customers' adoption of digital banking services. In addition, the paper recommends that future studies include equal numbers of female and male respondents, from different age groups and geographical areas.

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