Early Adoption of Online and Mobile Banking: An Analysis of Consumer Attitudes

Abstract

Consumer behaviour is influenced by a variety of factors, among which consumer attitudes are particularly significant. Attitudes play a pivotal role in shaping individuals’ purchasing and consumption decisions. This study conducts a literature review focusing on consumer attitudes toward online and mobile banking during the early stages of their adoption, specifically between 2002 and 2011. As digital banking channels gained popularity, this behavioural shift contributed to a gradual decline in the relevance of physical bank branches. The review is guided by three primary objectives: (1) to explore general consumer attitudes toward online and mobile banking, (2) to identify the factors associated with of these digital banking platforms that positively or negatively influenced consumer perceptions, and (3) to examine demographic variations in consumer attitudes. The findings indicate a generally favourable consumer disposition toward online and mobile banking during the study period, with increased adoption reflecting growing acceptance. Positive influences on consumer attitudes included time efficiency, ease of use, convenience, and enhanced autonomy through 24/7 account access and control. Conversely, concerns related to security and the loss of in-person interactions emerged as key negative factors. Demographic analysis revealed that younger consumers were more inclined to embrace digital banking compared to older age groups. These insights offer practical implications for financial institutions, suggesting strategic areas for improving customer engagement and service delivery in the digital banking landscape.