Exploring the Factors Influencing the Adoption and Continuous Engagement in Unlocking the Potential of Technology Driven Chatbots in Banking and Financial Institutions
Document Type
Article
Publication Title
Engineered Science
Abstract
The integration of chatbot technology in banking and financial sectors has witnessed significant traction, driven primarily by the need to offer efficient customer service and adapt to evolving digital landscapes. This paper investigates deep into understanding critical determinants that drive customers towards adoption of banking chatbots and their sustained usage. Through a comprehensive analysis of data collected from 294 respondents, this study provides insights into the myriad factors shaping customers' behavioral intentions and their decisions to engage with Chatbots continually. To establish theoretical foundation for research, this study leans heavily on two known frameworks - Unified Theory of Acceptance and Use of Technology (UTAUT) and Technology Adoption Model (TAM) to identify and assess vital elements affecting consumers' acceptance and utilization of Chatbots within banking and financial services. Chatbot adoption's success hinges on aligning with users' daily routines and lifestyles; a seamless fit increases user engagement and adoption. Such congruence significantly boosts willingness to adopt and engage continuously, suggesting that a keen understanding of end-user’s lifestyle patterns is imperative for successful chatbot integration. The value of this paper extends beyond mere academic interest, and holds immense practical value for industry stakeholders, especially those at forefront of digital transformation in banking and financial sectors.
DOI
10.30919/es1054
Publication Date
4-1-2024
Recommended Citation
Yadav, Pankaj; Gupta, Priya; Rai, Pratibha; and Naik, Nithesh, "Exploring the Factors Influencing the Adoption and Continuous Engagement in Unlocking the Potential of Technology Driven Chatbots in Banking and Financial Institutions" (2024). Open Access archive. 10453.
https://impressions.manipal.edu/open-access-archive/10453