An Investigation into Some Factors Influencing the Intention to Use Internet Banking among Undergraduates in Nigeria.

Abstract

The advent of globalization has brought innovation to business and development to the world in general. This development is also pronounced in the banking sector where internet facilities are used to bring about better banking services thereby leading to the achievement of the one of the cardinal goals of the Millennium Development Goals.

This study investigated some factors that can influence the intention to use internet banking among undergraduates in a private university in Oyo, Oyo State, Nigeria.

The subjects were made up of students from a private university drawn from three faculties. The study employed survey research with questionnaire used as data collection instrument. Three hundred and fifty-seven subjects cutting across different departments in the university. Five hypotheses were tested using multiple regression, correlation analysis and t-test.

The study revealed that the six factors (triability, capability, compatibility, perceived risk, perceived ease of use and perceived usefulness) used in this study had positive significant relationship with the intention to use internet banking. These factors also influenced the intention to use internet banking.

Based on the findings of this study, it was recommended among others that banks in Nigeria should take into consideration technological development of the country when introducing innovative services. The banks should also consider the level of education before the introduction of world class technology.

Keywords: Perceived usefulness, perceived risk, triability, capability, intention to use