Customers’ Intentions to Switch to Internet-Only Banks: Perspective of the Push-Pull-Mooring Model

Cheolho Yoon and Dongsup Lim
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Cheolho Yoon: Department of Business Administration, Mokpo National University, Cheonggye 58554, Korea
Dongsup Lim: LINC+ Project Team, Mokpo National University, Cheonggye 58554, Korea

Sustainability, 2021, vol. 13, issue 14, 1-20

Abstract: The advent of fintech is blowing a new wind into the financial industry. New business models have been created and consumers’ access to financial services is higher than ever. Internet-only banks based on advanced information technologies have emerged as a leader in the fintech industry, and these banks are fiercely competing with large banks using internet banking as a weapon to attract new customers. The purpose of this study is to explore the factors that influence customers’ intention to switch to internet-only banking services from traditional internet banking services in Korea. To this end, a research model was developed based on the push-pull-mooring model (PPM), which is a migration theory. The research model was analyzed using partial least squares structural equation modeling (PLS-SEM). The findings will provide the practitioners of the new internet-only bank with strategic guidance for attracting new customers and help practitioners of traditional banks to retain current customers.

Keywords: internet-only banks; internet banking; fintech; push-pull-mooring model; innovation diffusion; TAM (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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