Key drivers of internet banking services use

Purpose - The purpose of this paper is to analyse the determinants of internet banking use, paying special attention to the role of product involvement, perceived risk and trust. Design/methodology/approach - The impact of trust, perceived risks, product involvement and TAM beliefs (ease of use and usefulness) on internet banking adoption is tested through structural equation modelling techniques. The sample consists of 511 Spanish internet banking services users and the data are collected through an internet survey. Risk is measured as a formative construct. Findings - Data analysis shows that TAM beliefs and perceived risks (security, privacy, performance and social) have a direct influence on e-banking adoption. Trust appears as a key variable that reduces perceived risk. Involvement plays an important role in increasing perceived ease of use. Practical implications - This research provides banks with knowledge of what aspects to highlight in their communications strategies to increase their internet banking services adoption rates. The research findings show managers that web contents and design are key tools to increase internet banking services adoption. Practical recommendations to increase web usefulness and trust, and guidelines to reduce perceived risk dimensions are also provided. Originality/value - Despite the importance of trust issues and risk perceptions for internet banking adoption, only limited work has been done to identify trust and risk dimensions in an online banking context. We have evaluated the impact of each risk dimension instead of treating risk as a whole. Furthermore, risk has been measured as a formative construct because there is no reason to expect that risk dimensions in online financial services are correlated.