Factors Influencing the Use of Digital Personal Banking in South Africa

Financial technology improvements have simplified personal banking, allowing a range of services to be accessed anytime and anywhere. But the impact of digital financial technology on the use by consumers of digital personal banking in developing economies has been little researched. The purpose of this study is, therefore, to examine the link between the use of digital personal banking by consumers and the various drivers of digital banking use in a developing economy, namely South Africa. An online survey of 400 digital banking users in the iLembe district of KwaZulu-Natal, South Africa, was used to collect data. Of the eight drivers identified initially from extant literature, Online service quality, Usability, and Branch service quality were the most important, with Usability and Online service quality having the greatest positive influence, and Branch service quality having a large negative influence, on use of digital banking by the respondents.