FACTORS LEADING TO THE ACCEPTANCE OF DIGITAL BANKING IN KERALA: AN ANALYSIS OF THE SBI YONO APP

The banking industry has expanded globally due to the widespread adoption of digital banking, particularly in India. Digital banking has revolutionized financial transactions, offering customers convenience, speed, and accessibility. This research examines the key determinants that shape the adoption of digital banking in Kerala, with a particular focus on the State Bank of India's (SBI) YONO app. Data were gathered from 200 SBI YONO app customers in Ernakulam District using a descriptive research framework. The researcher used descriptive statistics, percentage analysis, factor analysis, and regression to analyze the collected data. The results show that several factors, including social impact, perceived effort, outcome, available facilities, and the effects of COVID-19, helped determine the adoption of the SBI YONO. These elements play a pivotal role in influencing user engagement and acceptance of the digital banking platform. These five factors collectively explained 73.18% of the variance in the adoption of the SBI YONO app. The study concluded that age groups (45 years and below) demonstrate higher adoption rates, likely due to their greater digital literacy and frequent online financial transactions.