DIGITAL BANKING MADE TRANSACTION MORE TRUSTED AND SECURED?

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International Journal of Civil Engineering and Technology (IJCIET)
Volume 9, Issue 11, November 2018, pp. 395–407, Article ID: IJCIET_09_11_039
Available online at http://www.iaeme.com/ijciet/issues.asp?JType=IJCIET&VType=9&IType=10
ISSN Print: 0976-6308 and ISSN Online: 0976-6316
© IAEME Publication Scopus Indexed
DIGITAL BANKING MADE TRANSACTION
MORE TRUSTED AND SECURED?
Umbas Krisnanto
Perbanas Institute, Postgraduate School, Dki Jakarta, Indonesia
ABSTRACT
This research was conducted to find out customer's response in digital banking
era using TAM and UTAUT model. Questionnaires filled bank account owner who
have often used digital banking. Results based previous research most customers have
been able to adjust to the digital banking. There is short comings facilities in digital
banking i.e. small banks still use digital banking as window dressing to attract
customers, the front-page display is too confusing, often broken, security is not
guaranteed. Recommendations have been given to the bank's management, as input
for improvement in the future.
Keywords: TAM, UTAUT, digital banking JEL classification: M 31 General
Marketing
Cite this Article: Umbas Krisnanto, Digital banking Made Transaction More Trusted
And Secured?, International Journal of Civil Engineering and Technology, 9(11),
2018, pp. 395–407.
http://www.iaeme.com/IJCIET/issues.asp?JType=IJCIET&VType=9&IType=11
1. INTRODUCTION
Competition among industries has caused companies to quickly adjust themselves so as not to
be left behind by consumers. Banking in each group seeks to maximize revenue by
optimizing the number of customers both as depositors and as creditor. The optimization of
banking services as a financial intermediary is done in various ways, in this case the
improvement of digital services or online office. One way that has been run is the pioneering
use of self-service such as ATM. The development of internet technology provides a more
advanced step in customer service. But with the development of mobile phones become the
driver of the development of banking services in done immediately (real time). The
development of services to customers should decrease the number of bank offices physically.
The growth in the number of bank offices did not increase significantly. Possible due to the
online office. TAM (Theory Acceptance Model). Thisstudy found most respondents in
Penang agreed that internet banking would become the main transaction method in Malaysia
within 5 years. (Ramayah& Ignatius, 2005). Kishore et.al (2016), IDT (Innovation Diffusion
Theory) Consumer attitudes and characteristics of the site are able to attract consumers to use

Digital banking Made Transaction More Trusted And Secured?
internet banking. The results indicate lifestyle and financial management technologies affect
the use of internet banking. Amin, H (2007). SCT (Social Cognitive Theory) involves
students in Labuan using the TAM theory. The results showed that the acceptance of
respondents is quite high among the respondents with good skills in using the internet
because they benefit from it. But the study shows that computer skills do not guarantee the
credibility of users in using system I because of security and confidentiality. Hamid et.al,
(2007) examined the comparison between internet banking providers in Malaysia and
Thailand. These findings share the same problem in internet banking; Adapting trust in
financial channels through the Internet, the issue of prejudice against the reputation of service
providers in both conventional banks has an impact on consumer acceptance of Internet
banking. Hanafizadeh et.al. (2014) U-Test and T-Test make comparisons between users and
non-users of internet banking with the findings of both respondents are not satisfied with the
level of security in online transactions and should be improved. This happens because of the
lack of publicity about the security of internet transactions. Suki (2010) IDT Uses 100
respondents and finds that past experiences and usability have an impact on users to use the
internet. Internet banking is more easily accepted by educated people and with computer
skills. Foon et.al (2011) UTAUT (Unified Theory of Acceptance and Use of Technology)
sees social influences to help increase internet banking usage. This study improves the
UTAUT model by looking at direct IV and DV contact models. The study found that gender,
status, ethnicity, and education did not affect internet banking reception but age and income
differences affected them. Taasim, et.al (2015) examines pricing for services determining
consumer behavior to change their banks. The findings suggest that the improvement of
internet banking services independently, especially the benefits of banks, because it relates to
convenience, geography, and time consumers. Based on various previous studies conducted
the selection of research titles.
1.1. Research Formulation and Research Purpose
Technological advances require the industry to adapt so as not to be left behind by its
customers or the public. Banking industry is a service industry that requires a lot of
technology assistance to improve its services. Banking would need to know the needs of
society in existing means. To know what factors faced by society in facing digitization of
banking transaction. To know the factors that most influence the society in facing the
digitization of banking transactions.
2. PREVIOUS RESEARCH
Perceived usefulness (Perceived ease of use). Perceived benefits and perceived ease of use
have a significant positive effect on attitudes towards use (Teo, 2011); the perception of ease
of use significantly affects the perceived usefulness of Cabanillas, et.al (2017). Previous
empirical studies of mobile banking yielded similar results. For example, a customer with a
positive attitude towards mobile banking will demonstrate positive behavior towards mobile
banking use Kishore et.al (2016). Also users who consider mobile banking useful and easy to
use will have a positive attitude towards usage (Khasawneh, 2015). Finally, customers who
think mobile banking is easy to use demonstrate a higher level of mobile banking
effectiveness. (Jeong& Yoon, 2013). Compatibility refers to the extent to which services are
perceived to conform to the values, beliefs, habits, current experience and previous user
experience (Al-Jabri&Sohail, 2012). Compatibility is a vital feature of innovation because
conformity to a user's lifestyle can drive a fast adoption rate (Tully, 2015). The study of
compatibility is a significant antecedent in determining consumer attitudes towards the
adoption of internet banking in Malaysia (Taasim, et.al 2015). Further compatibility is found

Umbas Krisnanto
to influence the adoption of virtual stores (Al-Jabri&Sohail, 2012), m-payment, and mobile
banking. Dzogbenuku (2013) found that its compatibility has been significantly correlated
with the adoption and use of computers. Therefore, students can conclude that when there is a
relationship between compatibility and adoption in the context of mobile banking.
Subjective Norms. This study integrates the social context in the conceptual model of
research by incorporating subjective norms, defined as the individual perception that most
people are important to him or her should or should not do the behavior in question. The
importance of subjective norms on the attitudes of potential users to technological
innovations has been established in previous empirical studies (Teo, 2011). In terms of
mobile banking applications, existing research indicates that the norm of the subject plays an
important role in shaping the attitudes of potential users towards innovation as it is quite new
(Yu, 2012). For example, a study conducted by Yu (2012) on determinants of mobile
payments in Taiwan identified subjective norms as the most dominant belief affecting users'
attitudes toward and behavioral intentions to adopt mobile banking usage.
Perceived Trust. According to Nor, et.al (2008), consumer perceptions that honest
digital banking, digital banking keep the best interests, digital banking offers secure banking
services.
Perceived Risk. This attribute refers to the degree of risk in using innovation. Customer
risk perceptions usually arise because of doubts related to the degree of inconsistency
between customer ratings and real behavior, and technologies that fail to deliver anticipated
results and their consequent losses (Al-Jabri&Sohail, 2012). In technology adoption, there is
research evidence on the importance of risk perception in applying new technologies or
services (Taasim, et al 2015). In the context of mobile banking, risk perception is even more
important because of the threat of privacy and security (Luarn and Lin, 2003). Second, the
fear of losing the PIN code may also pose a security threat (Kuisma et al., 2007). Thirdly,
some users are also afraid that hackers can access their bank account through a stolen PIN
code (Poon, 2008). Finally, some users may also fear the loss or theft of mobile devices with
stored data. Therefore, the perceived risk of mobile banking will negatively force students to
not do mobile banking.
Perceived cost.Luarn and Lin (2003) state that the cost of equipment (for example,
mobile devices) to use digital banking will be high, transaction costs to use digital banking
will be high, communication or access fees for using digital banking will be high, using
digital banking requires a lot of cost.
Performance Expectancy. The research produces shopping through digital banking is
useful, using non-banking -the office for online shopping makes it possible to shop faster,
shop with fun office banking, digital banking is more useful to me. Venkatesh et al. (2003).
Social Influence.Venkatesh et.al (2003) states that people influence to spend through
digital banking. If a friend or family member recommends shopping using a digital banking, I
might try it. If someone in my opinion values encourages shopping to use a digital banking. I
might try it.
Trust.Refers to "one's belief that others will behave according to one's expectations"
(Grazioli & Jarvenpaa, 2000 in McKnight et al., 2002) and "the hope that others choose to
believe will not misbehave by taking undue advantage from the situation "(Gefen et.al, 2003).
Innovation generally comes with risk (Schierz et al., 2010). Therefore, trust is a prerequisite
for reducing the impact of risks associated with innovation (Luo et al., 2010). Trust helps to
allay potential user concerns about risks and facilitate transactions in the online environment
by reducing uncertainty and possible risks (Lankton et.al, 2014). Previous empirical studies
have identified a lack of trust as the main reason why many consumers refrain from engaging

in online transactions (Grewal, et.al, 2014; Schierz et al., 2010). Contributing to a lack of
trust in online business transactions is the lack of reliable standards for secure payments, lack
of appropriate legal structures to protect customers from the dangers of online transactions,
and consumer concerns that their personal data may be disclosed during online transactions
(Schierz et al. 2010). The notion of trust has become an important issue in online banking as
it underscores the ultimate criteria for what constitutes a conducive online banking
environment. Indeed, the issue of confidence in online banking has assumed a more critical
attitude than in offline banking because of the absence of physical branches and also the
absence of physical interaction between bank personnel and customers (Aladwani, 2001).
Considerable empirical evidence suggests that many customers refrain from moving to online
banking because they do not trust the system (Beldad, et al. 2010; Hanafizadeh et al., 2014;
Luo et al., 2010). With regard to mobile banking, the existing literature suggests that a lack of
confidence in the mobile banking system poses significant challenges to widespread
acceptance (Masrek, et.al 2012).
Location.Using digital banking is useful because it allows to shop wherever it is likely to
shop through digital banking when the nearest bank office is not available. Shop using digital
banking even if there is a bank office nearby. Snail & Hobikoglu, (2015).
Behavioral Intention. Behavioral intent measures the willingness of users to engage in
certain behaviors. Venkatesh et.al (2003).
Personal Need. Amin, M (2016) states that feeling really safe when doing transactions on
the online bank website. Feel that my personal needs are being met while using an online
bank website. Online bank websites provide information and products according to
preferences.
Site Organization. Online bank sites are easy to use and well organized. Can go directly
to the online bank site quickly. The online bank design website is user friendly. Amin, M
(2016).
User Friendly. Amin, M (2016) in his research, online bank website is very user friendly,
online banking website navigation is easy, online bank online site launched and run
immediately, and the page on the online bank website does not freeze.
Website Efficient. It's easy to find what I need on an online bank site. It's easy to get
anywhere on the online bank site and be able to complete transactions quickly on the online
bank website. Amin, M (2016).
Satisfaction is defined as perceived perception of the evaluation process, compared to
expectations, in the buying process given the expected requirements (Alshurideh, 2017).
Maintaining customer satisfaction is a fundamental issue of the survival and sustainability of
a bank. If the bank does not meet the needs of its customers, other banks will do so.
Customers are usually loyal to banks that act more in accordance with their needs and
demands based on the latest technology better than other competitors. Thus, when the bank
meets the needs of its customers, it has actually satisfied them and will increase positive
feelings to its customers. Dissatisfied customers, act differently than others. On average,
satisfied customers, telling about a service or product that is good for three people, but not
satisfactory, tells the story for at least eleven candidates.
Loyality. The number of awards given for lack of trust because customer satisfaction has
a positive relationship with the intention of repurchasing and customer loyalty (Amin et al.,
2013; Kashif et al., 2015; Sharifi and Esfidani, 2014; Quach, et.al. 2015). For example,
Munhurrun et.al (2010) found that there is a significant relationship between customer
satisfaction and e-customer loyalty in internet banking. Accessibility is the most important

Umbas Krisnanto
aspect in determining customer satisfaction, while security is also an important determinant
of behavioral intent. Similarly, Gera (2013) finds that customer satisfaction is a direct
antecedent of positive recommendation intent, and leads to positive WOM (Kaura et al.,
2015), and behavioral intent (Cronin & Taylor, 1992; Szymanski et.al, 2001). It seems that
consumers who are satisfied with internet banking are more likely to engage in a consistent
relationship with internet banking in the future and show more loyal behavior
(Gounaris&Dimitriadis, 2003). However, when dissatisfaction is felt, customers tend to
complain about the service and engage in negative WOMs, and they will react negatively and
switch to other services. (Amin et al., 2013; Karim & Chowdhury, 2014; Wirtz et al., 2007).
In this case, if internet banking fails to provide the channels customers need, they will find
more difficulty in developing relationships with their customers (Amin et al., 2013). As a
result, customers who are satisfied with internet banking are very loyal to their bank. For this
reason, customer satisfaction is considered an important determinant of customer loyalty.
2.1. Hypothesis
H1: Perceived usefulness, Perceived ease of use, trust, social influence related to
behavioral intention(Talukder et.al, 2014)
H2: Perceived usefulness, perceived ease of use, ccompatibility, subjective norms,
perceived risk, perceived trust, perceived cost related to behavioral intention
(Phonthanukitithaworn et.al, 2016)
H3: Perceived usefulness, perceived ease of use, perceived risk (= self efficacy), perceived
(financial) cost related to behavioral intention. (Jeong and Yoon, 2013)
H4: Perceived usefulness, perceived ease of use, trust, subjective norms related to
behavioral intention. (Maduku, 2014)
H5: Performance Expectancy, trust, perceived risk related to behavioral intention. (Luo,
et.al., 2010)
3. RESEARCH METHOD
Types of Research According to Its Use: Applied Research. According to the Method: Survey
Research, by type of data and analysis: Quantitative Research, According to the level of
explanation: Descriptive Research, According to Depth Level of Data Analysis: Explanatory
Research. According to the nature of the problem: Correlational Research, According to
Research Sites: Field research, According to the Scientific: Research Scientific Research
Research Instrument: Questionnaire, Population: Customers who already use digital
banking, Samples: Customers used ATM besides Mobil banking. Data Collection Method:
Questionnaire
4. ANALYSIS AND DISCUSSION
4.1 Respondent profile
Respondents who had the opportunity to fill questionnaires 53.81% (410 respondents) were
women, the rest were men. Transactions made by respondents are more frequent to the main
choice ATMs of the respondents whose accounts are opened by other parties and open
accounts themselves. The second option is digital banking and finally, come to the bank.

4.2 Descriptive analysis
Based on perceived usefulness(Nor et.al., 2008), the respondent's response to the use of non-
banking banking is to be able to perform banking transactions (pay) more quickly.
Respondents felt that coming to the bank office was the last resort.
Based on perceived ease of use(Nor et.al.,2008), all the visibility provided by digital
banking facilities is clear and understandable by customers who do require digital banking
facilities, but if accounts are opened by other parties then the non- office is an easy thing to
use.
Based on compatibility(Schierz et.al.,2010), both respondents agreed that digital banking
facilities are a supporter of today's lifestyles.
Based on subjective norms(Nor et.al.,2008), respondents in both groups realized in
today's life that it is easier to use digital banking facilities.
Based on perceived trust(Featherman and Pavlou,2003), respondents on both sides
assume to maintain the best quality by using digital banking facilities, security and honesty is
not a matter of principle.
Based on perceived risk(Featherman and Pavlou, 2003), unemployed respondents assume
that the use of gadgets is riskier for banking transactions and consequently the customer
suffers losses. On the other hand, the offer of digital banking services, respondents are still
haunted by the loss and uncertainty.
Based on perceived cost(Chitungo&Munongo,2013), respondents whose accounts are
opened by others are concerned about the increased cost of using digital banking services.
But the respondents who want the digital banking have realized the cost of communication
will be high but will save time so that the cost is not a major problem.
Based on behavioral intention(Venkatesh et.al., 2003), technological advancements
support respondents to act more efficiently and effectively to make the most of digital
banking services in the future rather than coming to the bank.
Based on performanceexpectancy(Venkatesh et.al., 2003), the availability of digital
banking services attracts respondents whose accounts are unlocked and accelerates the
respondents who open their own accounts to shop online.
Based on effortexpectancy(Venkatesh et. al., 2003), facilities offered by digital banking
services facilitate the respondents.
Based on socialinfluence(Venkatesh et.al.,2003), the shopping facilities provided by
digital banking make it easier for the respondent's family or family to use it.
Based on trust(Abadiet.al., 2013), respondents believe that banks always keep their
clients' data confidential.
Based on location (distribution)(Sanli&Hobikoglu, 2015), respondents believe spending
better using digital banking services.
Based on behavioral intention(Ariff et.al., 2012), the benefits of digital banking services
make future spending increases for respondents whose accounts are opened by others,
whereas respondents who open their own accounts do use the tools.
Based on personal needs(Ball et.al., 2006), respondents whose accounts are opened by
others, feel helped by the non-banking office services, while the respondents who open their
own accounts are already convinced the facilities are secure.
Based on site organization (Website Design)(Cyr et.al.,2008), both parties respondents
said the display provided easy to use.

Umbas Krisnanto
Based on convinience(Ling et.al., 2016), for the respondent who opens his / her own
account, the view provided is easy to understand, but the respondent whose account is opened
by the other party is happy because it is sliding quickly.
Based on efficient view(Ernovianti et.al., 2012), respondents of both groups feel fast
assistance for all arrangements using digital banking facilities.
Based on satisfaction(Shaikh &Chinje, 2015), all respondents are happy with the
appearance and digital banking services although not satisfied overall
Based on loyalty(Liang & Nguyen, 2017) respondents who open an account on the wishes
of others intend to continue using the service continues, while respondents who open their
own account will suggest other parties to use the service.
4.3 Statistical analysis based on previous research
Behavioral intention = 0.425 + 0.179Perceived usefulness + 0.069Perceived ease of use+
0.177Trust + 0.226 Social intention. R2
=0.636 (Talukder et.al. 2014), this researh result
Behavioral intention =1.366 + 0.147 Perceived usefulness + 0.164 Perceived ease of use +
0.001 Trust + 0.215 Social Influence. R2
=0.134
Behavioral intention = 0.13Perceived usefulness + 0.00 Perceived ease of use + 0.33
Compatibility + 0.17 Subjective norms – 0.04 Perceived risk + 0.18Perceived trust - 0.12
Perceived cost. R2
= 0.64. (Phonthanukitithaworn et.al., 2016), this research result Behavioral
intention = 0.18 Perceived usefulness - 0.02 Perceived ease of use + 0.30 Compatibility +
0.19Subjective norms + 0.15Perceived risk + 0.07Perceived trust + 0.10Perceived cost. R2
=
0.96.
Behavioral intention = 0.629 Perceived usefulness + 0.149 Perceived ease of use + 0.178
Perceived risk (= self efficacy) + 0.100 Perceived (financial) cost (Jeong and Yoon, 2013),
this research result, Behavioral intention = 0.349 Perceived usefulness + 0.271 Perceived ease
of use + 0.229 Perceived risk (= self efficacy) + 0.132 Perceived (financial) cost.
Behavioral intention = - 0.085 + 0.271 Perceived usefulness + 0.172 Perceived ease of
use + 0.514 Trust + 0.101 Subjective norms. R2
= 0.681. (Maduku, 2014), this research result,
Behavioral intention =1.3167 + 0.128 Perceived usefulness + 0.120 Perceived usefulness +
0.008 Trust + 0.294 Subjective norms. R2
= 0.165.
Behavioral intention = 0.499 Performance Expectancy + 0.131 Trust + 0.231 Perceived
risk. R2
= 0.509 (Luo et.al., 2010), this reseaarch result, Behavioral intention = 0.610
Performance Expectancy + 0.109 Trust + 0.267 Perceived risk. R2
= 0.967.
5. CONCLUSIONS
5.1. Discussion
 Talukder et al (2014) proposed higher coefficient of determination than this research.
Behavioral intention determined by other independent variables lower than this
research
 This research made higher coefficient of determination (0.96) rather than
Phonthanukitithaworn et.al. (2016). The two researchers found compatibility as a
higher variable made behavioral intention.
 Jeong and Yoon (2013) and this research found that perceived usefulness (0.629 and
0.349) made behavioral intention higher than other variables.

 Maduku (2014) found that coefficient of determination (0.681) higher than this
research (0.165).
 Based on this research, coefficient of determination higher than Luo et.al.(2010)
(0.967 to 0.499). Performance expectancy had a higher correlation than other
independent variables. (0.610 and 0.499)
5.2. Recommendations
 Respondents are still afraid of the security of the service due to the absence of
physically present security personnel, it is necessary to provide information to the
respondents how to maintain their personal security.
 Equipment often damaged, presumably there is a system that can notify in real time
that equipment is damaged so that the respondent did not already transact.
 Features too many views that are often confusing for beginners, should be simplified
for the front page.
 Some small capital banks have features that do not support all banking transactions, in
order to compete with large capital banks.
 Small transaction costs are quite burdensome, it is recommended that transaction costs
are adjusted for the transaction size.
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