Banking Chatbots: A Study on Technology Acceptance among Millennials in Malaysia


Toh, Tao Jie and Tay, Lee Ying (2022) Banking Chatbots: A Study on Technology Acceptance among Millennials in Malaysia. Journal of Logistics, Informatics and Service Science, 9 (3). pp. 1-15. ISSN 2409-2665

Full text not available from this repository.


The spread of Covid-19 has caused the prior investment in digital transformation – particularly the utilisation of banking chatbots becomes worthwhile. The utilisation of chatbots in the banking industry helps field the massive influx of customer service requests and frees up bank staff to focus on more detailed, high-value customer needs from the banks. Unfortunately, one of the banking chatbot users' biggest frustration is when the chatbots do not understand their demands. Worst case, banking chatbots may be degrading the bank's image due to a bad customer experience. Hence, bank customers choose not to adopt banking chatbots and prefer to deal with human agents. This study aims to identify the determinants of acceptance of banking chatbots among Malaysian millennials as banking chatbots bring high potential to provide the desired, instantaneous response. Besides, this study uses a convenience sampling method, with a selfadministered questionnaire developed based on the Unified Theory of Acceptance and Use of Technology (UTAUT 2), distributed to 150 Malaysians aged 26 to 40. The findings of this study show that performance expectancy, hedonic motivation, facilitating condition, habit, effort expectancy, social influence, and perceived compatibility are significant in explaining the acceptance of the use of banking chatbots in Malaysia. This study generates important insights that enabled banks to create banking chatbots that could help to strengthen customer engagement, supporting highly personalized solutions through an intuitive, seamless, and fast interface.

Item Type: Article
Uncontrolled Keywords: Chatbots, banking, technology acceptance, Malaysia
Subjects: H Social Sciences > HG Finance > HG1501-3550 Banking
Divisions: Faculty of Business (FOB)
Depositing User: Ms Nurul Iqtiani Ahmad
Date Deposited: 31 Oct 2022 02:33
Last Modified: 31 Oct 2022 02:33


Downloads per month over past year

View ItemEdit (login required)