Data-Driven Modeling of Internet Banking Adoption: Perceived Barriers and Consumer Innovativeness (OpenAlex (recherche mondiale))

Summary

• A quantitative study surveyed 200 digital channel users using structural equation modeling (PLS-SEM) to analyze barriers to internet banking adoption.p.1
• Brazilian banking transactions increased from 86.3 billion in 2019 to 186 billion in 2023, driven by mobile banking which expanded 3.5 times to account for 70% of operations.p.2
• Itaú Unibanco, Bradesco, and Santander Brasil closed a combined 856 branches in 2024 after closing 679 in 2023, eliminating over 5,000 traditional units since 2014.p.4
• More than half of financial institutions planned to expand their IT workforce by approximately 28% in 2024, reaching around 54.1 thousand employees.p.4

Key insights

1. Image and value barriers significantly influence internet banking adoption, whereas risk and tradition barriers do not show statistically significant effects.p.1
2. Consumer innovativeness does not play a statistically significant moderating role in overcoming perceived adoption barriers.p.1
3. Mobile banking operations expanded 3.5 times between 2019 and 2023, reaching 70% of all banking transactions in Brazil.p.2
4. Three major private banks in Brazil closed over 5,000 physical branches between 2014 and 2024 as consumer adoption shifted to digital channels.p.4
5. Higher perceived institutional credibility and image directly reduce consumer resistance to using internet banking services (β = -0.254).p.9
6. Risk and tradition barriers are statistically non-significant for consumers who are already accustomed to using digital channels.p.11
7. Banking digital transformation strategies are more effective when focusing on clear communication, usability, and tangible value rather than risk mitigation.p.12