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Identify the critical factors of Internet banking adoption among Malaysian Bank Customers: An Empirical Investigation in Malaysia. 1 Mohammad Ashiquzzaman Ashiq. (MBA)( Queensland, Australia) Faculty of Graduate School of Business (GSB). Universiti Tun Abdul Razak Kuala Lumpur, Malaysia Malaysia(UniRazak) 2 Arun Kumar Tarofder MBA(Multimedia university), PhD (MMU) Faculty of Business Management Professional Studies Management and Science University, Malay 3 Professor Masudur Rahman, MCom, MBA(Manchester), PhD (Wales) Faculty of Graduate School of Business (GSB). Universiti Tun Abdul Razak Kuala Lumpur, Malaysia Malaysia(UniRazak) MD. Ashiquzzaman (Ashiq) Academic Researcher As well as PhD Candidate in Graduate School of Business (GSB) Universiti Tun Abdul Razak (UniRazak) Email:[email protected]. Postal Address: PhD Candidate, RAZAK Campus, Capital Square, Block C & D, No. 8, Jalan Munsyi Abdullah, 50100 Kuala Lumpur, WP Kuala Lumpur. ABSTRACT. In this study, By incorporating the respectively Model variables were diffusion of innovation (DOI), (RELATVE) relative advantage, Technology acceptance Model (TAM)(PU),Perceived usefulness,(PEOU)Perceived Ease of use, the unified theory of acceptance and use of technologyModel,(UTAUT)(SOIF) Social influence and additional extended variable (BBIN)Broadband Internet , and examining its impact on an adoption of Internet banking; A majority of the technology adoption research has been completed in developed by unique study but split variables and aggregated examination are a small number of study among Malaysia .This is the first time study in Malaysia, the results indicate that the proposed model provides a desirable or positive qualities to understanding framework was developed to testify Factor analysis was performed to extract and decide on the number of factors underlying asset of measured variables of interest. The statistical relationships among consumers with aggregated perceptions on internet banking adoption by Regression and factor analysis. This study shows that only potential and significant impact on consumers’ perception about internet banking regulatory frame work. This study offers an insight into in Malaysia, which has not European Journal of Business Management – Volume 12, December 3 (2012) 1

Dr Masudur Rahman Dr Arun Mr Ashiq

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Identify the critical factors of Internet banking adoption among Malaysian Bank Customers: An Empirical Investigation in Malaysia.

1Mohammad Ashiquzzaman Ashiq. (MBA)( Queensland, Australia)Faculty of Graduate School of Business (GSB).

Universiti Tun Abdul Razak Kuala Lumpur, Malaysia Malaysia(UniRazak)

2Arun Kumar Tarofder MBA(Multimedia university), PhD (MMU)Faculty of Business Management Professional Studies

Management and Science University, Malay

3Professor Masudur Rahman, MCom, MBA(Manchester), PhD (Wales)Faculty of Graduate School of Business (GSB).

Universiti Tun Abdul Razak Kuala Lumpur, Malaysia Malaysia(UniRazak)

MD. Ashiquzzaman (Ashiq)Academic Researcher As well as PhD Candidate in Graduate School of Business (GSB)Universiti Tun Abdul Razak (UniRazak)Email:[email protected] Address: PhD Candidate, RAZAK Campus, Capital Square, Block C & D,No. 8, Jalan Munsyi Abdullah, 50100 Kuala Lumpur, WP Kuala Lumpur.

ABSTRACT.In this study, By incorporating the respectively Model variables were diffusion of innovation (DOI), (RELATVE) relative advantage, Technology acceptance Model (TAM)(PU),Perceived usefulness,(PEOU)Perceived Ease of use, the unified theory of acceptance and use of technologyModel,(UTAUT)(SOIF) Social influence and additional extended variable (BBIN)Broadband Internet , and examining its impact on an adoption of Internet banking; A majority of the technology adoption research has been completed in developed by unique study but split variables and aggregated examination are a small number of study among Malaysia .This is the first time study in Malaysia, the results indicate that the proposed model provides a desirable or positive qualities to understanding framework was developed to testify Factor analysis was performed to extract and decide on the number of factors underlying asset of measured variables of interest. The statistical relationships among consumers with aggregated perceptions on internet banking adoption by Regression and factor analysis. This study shows that only potential and significant impact on consumers’ perception about internet banking regulatory frame work. This study offers an insight into in Malaysia, which has not previously been investigated and at the same time, statistical tests significance makes this study a potential cornerstone for future research.

Key Words Internet-banking adventage, Electronic Transaction,Usefulness,Esae of Use Internet Service and Broadband, Internet Banking Adoption Malaysian Bank Customers,

Introduction:Bank Negara Malaysia ,Governor's made a Keynote, address at the Ceremony, for the 50th Anniversary of: "50 Years of Central Banking “Stability and Sustainability" Online banking service was introduced in Malaysia about 10 years ago is now widely used by the entire population of internet subscribers in the country as well With 12 domestic banks offering online banking to 4.5 million Subscribers currently,(Bank Negara Malaysia, 2007) at the centre of the financial infrastructure is the payments infrastructure which has been enhanced and modernized over the years to achieve greater efficiency and reliability of the payments system. The payments

European Journal of Business Management – Volume 12, December 3 (2012)

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landscape has been undergo development or evolution from a mainly paper-based to one that includes a range of new electronic forms of payment. Internet banking which was not available in Malaysia (Bank Negara Malaysia, 2009).At last, on June 1, 2000, the Malaysian Central Bank gave the green light for locally owned commercial banks to offer Internet banking services. (Suganthi, et.al 2001 Sohail .., Balachandran,2003) and domestic Maybank was the first take the lead to launching online banking service among Malaysia.

The history of anatomy of IT revolution that shift in the-infrastructure of banking from mainframe, PCs, to client/server, before the emergence of the Internet. These IT- Researchers are alive in desktop computing and wired networking architecture, which is supported by patent electronic network implemented by banks. Traditional banking systems, conducted with the use of information technologies centering on electronic data interchange (EDI) over proprietary value-added networks (VANs) that were established by vendors to deliver services over and above those of common carriers that are licensed by governments to provide financial services to the public. (Standing 2002, Kimball & Gregor, 1995; Thornton &White, 2001) How brick & Mortar Banking makes much more sense for the bank to provide only ATMs in metropolitan area and locate its main center of operations in a suburb. (Eriksson & Nilsson, 2007). The next development was the introduction to Customers could easily and quickly handle their banking business online, at an ATM or even over a mobile phone at any time of the day or night. The technology keeps getting more sophisticated – even checks can now be deposited using a picture taken by a cell phone. Even if they are out of the country, customers who bank online can access their accounts at any time with ease. By the mid-1990s, many banks had begun to experience directly the potential the Internet offered them. Ultimately, the Internet presented a novel alternative to the phone banking systems (Claessens, Dem, De Cock, Preneel, & Vandewalle, 2002).The layers of the world ICT have created Internet (www), partially layer-by-layer Created E-commerce, e-government, Online shopping Debit card, Credit card ATM...So on as well as Online banking also , and there is no end of day of innovation as well as innovation is to be continue .Perhaps Online is reveals but it created low cost values and how close we have gotten that value for our daily financial transitions and consumption . (Ali Ahmad 2006, Hannah Thinyane 2009).Is it all a matter of perspective of brick and mortar whether it is, "Here's another fine mess you've gotten from brick and mortar banking into," or "What a relative advantage this would be..." Is judgment is in the eye of the beholder; electronic innovation in the Malaysian. (By Pang 1995, Suganthi, Balachandher, and Balachandran, 2001 Vijayan, P., and Bala Shanmugam, 2003)

Critical barriers and factors to Adoption online banking:

Online focus blamed themselves more for the service failure than the offline customers blaming themselves for a service failure. (Katherine; Lois Mohr and Kenneth Bernhardt 2006,)This research also showed that attribution for failure had a significant effect on online recovery expectations. Online customers blamed themselves for a service failure, the most interesting finding, is that online customers tended to blame themselves more for service failures than offline customers did. The fact that the transaction,(e.g. online banking) the more problems than do offline consumers in similar service situations The significant consumers’ attributions of blame for service failure on their expectations for failure recovery in on- and offline settings. Drawing on the attribution theory literature and the service failure literature, developed to explain customers’ expectations of and reactions to service failure and recovery in multiple barriers of online services (e.g. e-banks and airlines) and two mediums of on- and offline is the significant barriers for IB and e-transitions.(Katherine et.al , 2006; Vijayan, and Bala Shanmugam, 2003))

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An exhaustive literature search of e-commerce barriers, it is our considered opinion that we consulted a representative sample of literature sources on this topic to warrant our conclusions valid. Determine if the barriers reported at the advent of electronic commerce are different from those found in recent studies an extensive literature review was undertaken to achieve With regard to the objective, what emerged from this debate is the fact that the adoption barriers. Differences only come in the importance placed on each barrier by different in different locations and at different stages of adoption. (e.g., example e-commerce, e-shopping web base technology developed; SMS Banking ,online banking) services were may value or place importance on barriers, (MacGregor and Vrazalic, 2005a; Scupola, 2003; Scupola, 2002, Ihlstrum, Magnusson, Scupola and Tuunainem, 2003; Simpson, & Docherty, 2004) these existing barriers so as to realize benefits from e-commerce as. (Ihlstrum et al 2003:p.102) appeared to have properly summed it up by saying researchers should stop reinventing the wheel in the form of creating new lists of old barriers.( Bolongkikit et.al 2008) .limited diffusion of computers and limited ease of use of banking services. It is incontestable that these issues were relating to earlier barriers of web networking problem (Poon and Swatman, 1997); insufficient legal systems (El-Nawawy and Ismail, 1999); lack of critical heap (Hadjimanolis, 1999) and inadequate infrastructure (El-Nawawy and Ismail, 1999) respectively.Online banking is the fastest growing and widespread effect on Internet activity among Malaysia. According to a new, survey,(2009) by Suruhanjaya Komunikasi dan Multimedia (MCMC), Malaysia the increase of home broadband connections to the Internet, Mini budget (2009)about RM2.4 billion was allocated to improve telecommunications infrastructure of 89 districts by the Malaysian Communications and Multimedia Commission. Besides that, Khazanah Nasional Berhad has been also invest RM3 billion in the telecommunications sector to improve broadband infrastructure in Malaysia.. Consumers with broadband access are about twice as likely to have tried online banking as those still using dial-up connections in MalaysiaInternet penetration and users in Global Broadband Quality, Study Shows Progress, Highlights Broadband Quality Gap,(Fernando Gil de Bernabé,2009)senior director, Cisco..Business School, University of Oxford Researchers Team Said, respectively found that Japan (scoring 98 out of 100) is the only country ready to meet future demands.. Japan achieving a Broadband Quality Score (BQS) of 32 was deemed acceptable for today’s broadband service mix. Out of the 42 countries surveyed, researchers found that 22 scored and top 10 countries those were soaring services of internet to Consumers .However, respectively and alike Japan, Sweden, Netherlands, Latvia, south Korea, Switzerland, Lithuania, Denmark, Germany, Slovenia really it is a gigantic gap for Malaysia is not included in these research as a survey sample Country to meet future . . (Cisco, 2009)The layers of the world ICT have created Internet (www), partially layer-by-layer Created E-commerce, Online shopping Debit card, Credit card ATM...So on as well as Online banking also , and there is no end of day of innovation as well innovation is to be continue .Perhaps Online is reveals but it created values and how close we have gotten that value for our daily financial transitions and consumption . Is it all a matter of perspective of brick and mortar whether it is, "Here's another fine mess you've gotten from brick and mortar banking into," or "What a relative advantage this would be..." Is judgment is in the eye of the beholder; electronic innovation in the Malaysian. (By Pang 1995, Suganthi, Balachandher, and Balachandran, 2001 Vijayan, P., and Bala Shanmugam, 2003).

However, brick & Mortar Banking makes much more sense for the bank to provide only ATMs in metropolitan area and locate its main center of operations in a suburb. (Eriksson & Nilsson, 2007). The next development was the introduction to Customers could easy and quick handle their banking business online, at an ATM or even over a mobile phone at any time of the day or night. The technology has been keeps getting more sophisticated – even checks can now be deposited using a picture taken by a cell phone. Even if they are out of the country, customers

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who bank online can access their accounts at any time with ease. By the mid-1990s, many banks had begun to experience directly the potential the Internet offered them. Ultimately, the Internet presented a novel alternative to the phone banking systems (Claessens, Dem, De Cock, Preneel, & Vandewalle, 2002),

Literature Review:

Electronic banking research has attracted much attention from marketing researchers about client perception, client attitudes, client satisfaction service quality, Consumer Perception, IB, Electronic Transaction, consumer perception ,IB transition, electronic commerce, Internet Online Customer (e.g. Ahasanul Haque et.al, 2009;Maenpa et. al.2008;Liao and Cheung 2002, Mols 1998, Bauer et. al., 2005; Gonzales 2004, Bauer et. al., 2005).But it attracts relatively less attention from the finance and banking researchers about the model theory shaped consequences research of IB adoption, in addition to which factor is influencing or which factor makes barriers to adopt online banking.The research model has been formulated to examine the impact of customers’ perception of Online banking adoption, and national environmental factors on their acceptance of Among Malaysia in context of Internet banking in several researchers used several models. It has been used to explain critical factors determining consumer acceptance of Internet banking (Sung, T.K. 2005;Yousafzai et. al., 2005). According to technology acceptance model ;( TAM) devices by Davis (1986). One of the most widely used models for explaining the factors that affects user acceptance of information systems or information technology is TAM. Another model is Fishbein and Ajzen’s (1989) theory of reasoned action (TRA), which was extended on Davis’s (1986) technology acceptance model (TAM). TRA model asserts that attitude towards a behavior was determined by relevant beliefs (Davis et. al., 1989). Logical Related, theory of planned behavior (TPB), extended by (Taylor and Todd 1995) the decomposed theory of planned behavior (DTPB) and the diffusion of innovation theory (IDT), Rogers (1983). The decomposed TPB model, according to (Tan and Teo 2000), uses constructs from the innovation literature such as relative advantage, compatibility, subjective norms, and perceived behavioral control by decomposing them into more specific dimensions. While, (Venkatesh and Davis, 2000; Venkatesh and Morris, 2000; Venkatesh, et. al., 2003) unified theory of acceptance and use of technology (UTAUT) on the other hand logical reason four core determinants (performance expectancy, effort expectancy, social influence and facilitating condition (Venkatesh, Morris, Davis and Davis, 2003) of the key relationships of intention and usage of information technology.

(BBNT), Broadband Internet:

Broadband Internet diffusion the most popular application for consumers to access email, gaming, gambling, adult entertainment, online news, Travel, and information searches online shopping and online banking ( Hitt and Tambe 2007; Cawley & Preston, 2007) BIS has been robust influencing service online for an analysis of the interconnection of IB and internet adoption. Most importantly, (Choudrie and Dwivedi 2005) revealed in an analysis of the United. Banking in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit translation etc were a important the adoption of broadband for online banking, (Cawley & Preston, 2007) .According to the (Nielsen 2007) investigation among Malaysia, respectively 39% ,used online purches70%, airline ticketing 55% , hotel reservation 41% online shopping , 53% made their purchasing by Internet via (www) .(Telecom-Malaysia, Jaring 2009) investigating and Malaysia is the south Asian country and the country pay a vital

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role with Southeast Asian Nations as well as participate with international organizations such as the United Nations. Malaysia's telecommunications and broadband network is advanced relatively compared to other countries in South-east Asia. Thus, according to the worldstats.com data related to the second quarter of (Connectivity Scorecard, Nokia Siemens Network 2008) Malaysia takes just 2,4% of Asian broadband market share. According to Ministry of Energy predicted, 50% household penetration by 2010 for encouraging efforts boosting ICT and e-commerce. Research investigations (2008) postulated by prior research variance of users of broadband among Malaysia consume was below 0.5 disappointed, variance of signification .Same research 2009, investigation come out considerable significant of variance (Connectivity Scorecard 2009). Researcher (Wai-Ching Poon 2008) statement, Factor influencing of e-transactions Speed was critical for IB services. More than one-third of the respondents were not satisfied with the browsing speed. Unfavorable internet speed that causes inefficient transition internet speed and online adoption has a robust correlation (Hoffman and Novak,1996; Hoffman et. al 1999) Very often, slow response time after any e-interaction leads to a delay of service delivery and makes consumers unsure about whether or not the transaction is completed (Jun and Cai, 2001). Respondent’s claim that the speed of e-transactions Move fast by using than other traditional banking necessity (Wai-Ching Poon 2008).Key reasons for consumer’s adoption of online banking internet technology and computer (johns and Perrott 2008). Analogous of brick-and-mortar banking to convert electronic-banking and technology that influence much more attribute of online, (e.g. high speed Broadband facility Boehm 2008), was found from his study of sampled internet users in retail banking that the internet channel had impacted more on customer retention than traditional channel,(johns and perrott 2008), face-to-face interactions, much will depend of the technological interface, also revel that Broadband interconnection with PC experience impact heavily on customers preferences and assessment ( e. g; Boehm 2008; Johnson 2007; Frambach 2007).Thus a customer’s value perception of an online waterway, is more positive, if he has a high level of online experience alike technology likes broadband internet service .

.(H1)Null Hypothesis: There is a no significant positive relationship between Broadband and online Banking adoption intention

(H1)Alternative Hypothesis: There is a significant positive relationship between Broadband and online Banking adoption intention

(SOIF)Social influence:

Unified Theory of Acceptance and Use of Technology ;( UTAUT), in the authors’ words, the comprehensive robust Model is in an attempt to find a unified model that combines different perspectives in the Field of technology acceptance (IT) research. (Venkatesh, Morris, Davis and Davis, 2003) stated that IT usage intentionality determinants research might have been reached with the (UTAUT). Models’ there are three intentional beliefs: Performance Expectancy, Effort Expectancy, and Social Influences. However, the ability to examine external variables’ impact on the technology usage behaviour can be examined through a fourth determinant, Facilitating Conditions .Very few research have been done by unified Theory of Acceptance and Use of Technology,(UTAUT) among Malaysia .Alike study were involved e-Government services adoption (Tung and Rieck 2005). Adoption of ICT in a government organization in a developing country (Gupta et.al 2008),E-commerce and mobile commerce applications adoption ,web technology adoption as well as The social nature of this technology can potentially promote active learning (Chen,. & Yang, 2008; Michael & Uzoka 2008; Siracuse, Sowell, and Musselman 2006), have applied UTAUT model in predicting individual adoption of e-government services.

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Social Influence finally online banking adoption service done by scholar (Yee & Yeow 2009) Priors None of the researchers have not perform, online banking services among Malaysia postulated theory of UTAUT (e.g. User Acceptance of Internet Banking Service adoption in Malaysia Yen Yuen 2009 ).The model Social influence variable has been incorporated from the origin model variable, according to literature impotency ; Construct is designed to measure the extent that online banking adoption . It is noticeable that social influence is taking place as an influential construct in the majority of these theories and models. Social influence has been called in different names as social factors, subjective norms or social norms in different adoption theories,(Güzin Mazman; Yasemin Koçak Usluel, & Vildan Çevik 2009). Perceives Social Influence, others’ belief that they should use an innovative examination for (e.g. technology) factors, that also significantly defined social influence (Thompson, Higgins & Howell, 1991). In their study as the degree to which an individual perceives that important, others believe he or she should use the new system. (Venkatesh, et. al., 2003).There have been different studies that explain the role of social influence in the usage process of innovations which individuals meet in different (e.g. behaviors, society, or social system, values and social norms) that influence to adoption of different technology (Fishbein,., & Ajzen, 1975; Ajzen, 1991; Taylor, & Todd, 1995 Venkatesh,., and Davis, 2000). Contemporary research among Malaysia adoption of online banking service (Yee& .Yeow 2009) their empirical investigation found social influence has been a highly Robust factors which positively influence to adopt online banking in Malaysian consumers .

(H2)Null Hypothesis: There is a no significant positive relationship between social influence and online Banking adoption intention

(H2)Alternative Hypothesis: There is a significant positive relationship between social influence and online Banking adoption intention

(RELATVE)Relative advantage: Five innovations attributes affect the adoption rate of an innovation. Consistently (1) Relative advantage, (2) Compatibility, (3) Complexity, (4) Trialability, and (5) Observability .In addition, diffusion is the process by which an innovation wide expanse. Relative advantage is incorporate part of innovation diffusion, (Rogers 1995, p.5) as "is an idea practice, or object that perceived as new by an individual or other unit of adoption,” (Rogers; 1983, 1995),. Relative advantage and innovation attributes, that, the better individuals’ perceptions of these entities, the advanced are the chances of a successful adoption of a fresh innovation. Relative advantage is often referred to in term of convenience, saving of time and effort and reduce of feelings of anxiety that make you tense and Capable in adopting or using and innovation. Sphere of influence that is make sure specific environment of innovation (Rogers, 1983). Over the high value of internet banking, consumers may perceive a relative advantage; the network should be consisting of a collection of internet sites that offer online banking for accessing accounts from any location and at any time of the day. It furnish the vast control, facilitate, and flexibility which is well organized financial transactional phenomena. Several empirical study (Tan & Teo 2000) on Internet banking have reported relative advantage as one of the key determinants that influences consumers’ adoption decision.( Agarwal and Prasad 1997). Online banking relative advantage its makes convenience for consumers and bankers and price incentives as well as long waiting queue and slow service and it is quite logical for the Consumers with knowledge and accessibility to switch over to Internet banking. Pricing has been successfully considerably lower priced or without any fee at all but for the transactions in traditional banking the fees are very high ,according (Suganthi, Balachandher, and Balachandran, 2001; Vijayan, V.P., and Vignesen Perumal, and Bala Shanmugam, 2004) Clients demand a minimum relative advantage in order to switch channels. It means that the new innovation services should perceived to be better than its predecessor

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(Gerrard & Cunningham, 2003). Banks could highlight the benefits of Internet banking such as faster and convenient execution of financial transactions, lower economic cost and convenient online access to financial information (Khalil Md Nor & Michael Pearson; 2007,2008).Relative advantage was found to have a significant positive effect on attitude toward using Internet banking. Integrate part of relative advantage; the theory has been tested intention to adopt on online banking such as operating system ( Karjaluoto 2002; Karahanna,& Chervany, 1999, Rogers, 1995)

(H3)Null Hypothesis: There is a no significant positive relationship between Relative advantages and online Banking adoption intention.

(H3)Alternative Hypothesis: There is a significant positive relationship between Relative advantages and online Banking adoption intention.

(PU)Perceived Usefulness and (PEOU), Perceived Ease of Use:

The Technology Acceptance Model (TAM) is an information systems theory that models how users come to accept and use a technology. The model suggests that when users are presented with a new technology, a number of factors influence their decision about how and when they will use it, remarkably the Perceived usefulness (PU) was defined by (Fred Davis 1998) as "the degree to which a person believes that using a particular system; Perceived ease-of-use (PEOU) "the degree to which a person believes that using a particular system would be free from effort" (Davis, 1989). The gigantic literature postulated perceived ease of use by incorporating the model TAM and examined its influence on an individual’s intention to adopt the technology, online banking. Investigation recognized 79 relevant pragmatic studies in 73 articles. The results show that behavioral Intention is likely to be correlated with actual usage. However, the TAM variables perceived ease of use (PEOU) and perceived usefulness (PU) are less likely to be correlated with actual usage. (M. Turner et al, 2009) prior researchers on the diffusion of innovations also suggested a prominent role for perceived ease of use. (Tornatzky and Klein 1982) analyzed the (e.g.adoption technology) had the most significant relationships with adoption across a broad range of innovation natures as well as (Nelson Oly Ndubisi, 2005) perceived usefulness (PU) and ease of use(PEOU) (two key constructs in the technology acceptance model)which play a vital role that designed the adoption of computer technologies .A significant positive relationship between attitude and behavioural intention suggests that positive attitude about Internet banking could influence individuals to use Internet banking. Banks can create a positive attitude amongst its customer towards Internet banking by promoting its usefulness, ease of use, value, and image (Md Nor and Pearson, 2006; Md Nor & Pearson 2008; Huam Hon Tat & l Md Nor 2008) The strengths of TAM are due to its predictive power and the small number of constructs to predict intention (Agarwal & Prasad, 1999). Several researchers have been replicated Davis’s original study (Davis, 1989) to provide empirical evidence on the relationships that exist between usefulness, ease of use and system use and adoption behavior is determined by the intention to use a particular system, which in turn is determined by the perceived usefulness and perceived ease of use (Ajzen & Fishbein, 1980; Fishbein & Ajzen, 1975, Davis, 1989; Adams, Nelson & Todd, 1992; Cao, Zhang & Seydal, 2005; Davis et al., 1989; Lederer, Maupin, Sena & Zhuang, 2000; Mathieson, 1991; Muthitacharoen, Palvia, Brooks & Krishnan, 2006; Taylor & Todd, 1995; Venkatesh, Morris, Davis & David, 2003).According to (Nelson Oly Ndubisi 2007) unique research investigation declaration of Internet-using bank customers and , its adoption statement that perceived usefulness and perceived ease of use has been robust determinants of behavioral intention to adopt IB, supplementary object has been fairly significant

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(e.g Petrus Guriting & Nelson Oly Ndubisi 2006; Lederer et al., 2000).the largest part and essential incorporate part of online banking intention to adoption , perceived ease of use and perceived usefulness were addressed as the most important constructs in predicting information system acceptance (Cheong and Park, 2005 and Guriting and Ndubisi, 2006). Significant effect of perceived ease of use on usage of intention, either directly or indirectly through its effect on perceived usefulness (Venkatesh, 2000; Venkatesh and Morris, 2000; Agarwal and Prasad, 1999; Davis et al., 1989).

(H4)Null Hypothesis: There is a no significant positive relationship between perceived usefulness and online Banking adoption intention.

(H4)Alternative Hypothesis: There is a no significant positive relationship between perceived usefulness and online Banking adoption intention.

(H5)Null Hypothesis: There is a no significant positive relationship between perceived Ease of use and Online banking adoption intention

(H5)Alternative Hypothesis: There is a significant positive relationship between perceived Ease of use and Online banking adoption intention

Study Framework for proposed and Result.

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PU, β=0.457

PEOU, β=0.582

RELATVE, β =0.133

SOIF, β = .458

ADOPTIB

BBNT, β =.211

H 1

H 5

H 3

H 4

H 2

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Methodology:Data Collection:A structured questionnaire was used to collect the primary data to answer the research questions and objectives regarding customers’ perception on IB adoption among in Malaysia. The surveyQuestions consist two specific sections (A and B), a section contained demographics questionnaires and (B) Section Contained Independents Variable to manifest different parts of adoption Nature. The time, cost, systematic and plan were critical straits of used of IB and difficulty to access to the potential respondents in Malaysia caused stratified random sampling the convenience sampling method to get . Therefore, some specific places were chosen for distributing the questionnaires. These are mainly Kuala Lumpur (UNiRAZAK,), Kota Damansara and Suban Jaya (SEGi), Shah Alam Selangor, Management & Science University,(MSU) area which are comparatively densely populated having concentration of internet users as well high-flying University . The survey was conducted usually confronting each other interviews administrative. Questionnaires were distributed SEGi, MSU, UNiRZAK postgraduates and Undergraduates Student and survey participants were those who used internet and internet banking services that agreed to participates were only considers as the survey population. This step was taken mainly to avoid complains from the internet users as well as ignore the biased respondents. Apart from the ability to reach large size of target respondents and inexpensive way to conduct the survey, the survey through e-mails enabled the respondents to provide their responses easily through open-ended questions. Therefore, the survey responses provided us with the valuable inputs to this study for better understanding the IB practices in Malaysia. Total 400 questionnaires were distributed, and each of the responses received was screened properly for error, incomplete. And/or missing responses. However, those responses that had more than 40% of the questions in the survey questionnaire that had been left unanswered or incorrectly answered were deducted from data analysis. After having done the appropriate screening process, 160 instruments returned questionnaires were considered as unusable and the rest 240 responses were used which were considered as complete and valid for final analysis and hypothesis testing

RESULTS AND DISCUSSIONFactor Analysis:

Factor analysis was employed to explore the underlying factors associated with 20 items by using Principal Component Analysis (PCA). Generally, KMO is used to assess which variables need to drop from the model due to multicollinearity. The value of KMO varies from 0 to 1, and KMO overall should be .60 or higher to perform factor analysis. If not then it is necessary to drop the variables with lowest anti image value until KMO overall rise above .60. Result for the Bartlett’s Test of Sphericity and the KMO reveal that both were highly significant and concluded that this variable was suitable for the factor analysis (Table 1). Factor analysis was carried out on the consumers’ perception toward adoption of internet banking to group together the variables that are highly correlated. The process of factor analysis involves two stages: factor extraction to make an initial decision on the number of factors underlying asset of measured variables of interest and factor rotation for easy interpretability of factor extraction result and for making final decision about the underlying factors. The underlying structure of 16 items was analyzed using principal component analysis followed by varimax rotation. The factor analyses revealed four dimensions underlying consumer perception toward internet banking adoption . They are: (F1), perceived Usefulness (F2), perceived Ease of use (F3), Relative advantage (F4),Social Influence (F5) Broadband Internet . The total variance explained by factors is indicated in Table 2, which suggests that the five factors account for 83% of the total variance.

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Validity and Reliability of Measures:Significant precautions were taken during the various stages of development, Construct validity was examined from two perspectives, unidimensionality and discriminant validity and evaluated through factor analysis. The three usually accepted decision rules is research (egenvalue ≥1; factor loading ≥ 0.5; and simplicity of structure) were employed for identification of the factors (Hair et al. 1992). The reliability of the extracted factors was evaluated through Cronbach’s alpha test Table-3. The results of the tests for unidimensionality or discriminant validity are reported in (Table -3).All the five Independent and one Dependent factors have satisfactory alpha values that are higher than the 0.60 established for exploratory research (Churchill 1979; Nunnally 1978). (Table-3 the willingness to internet banking adoption of the respondents. For the further analysis all the factors were considered because the factor loading value were higher then the value of 0.5 considered in this study. Table-3, Factor analysis (Varimax) showing the combined impacts on internet banking. Adoption Results of Factor Analysis: Exploratory Factor Analysis; The survey questionnaire Section- B Total; 20 items were analyzed to access dimensionality. Initial analysis was performed with exploratory factor analysis (EFA), using principle component method. This step was taken to remove items where there was a lack of evidence indicating that the items were part of a hypothesized dimension. Items were removed one at a time using the following procedure.

Table-3.

Factors Egenvalue % of Variance(PU1 ) (perceived Usefulness) 8.644 44.888

PU 1PU 2PU3PU 4

(PEOU2) (Perceived Ease of use )

2.499 14.616

PU 2PU1PU 3PU 4

(PEOU3) (Relative advantage) 2.564 11.77RELATVE 3RELATVE 1RELATVE 2RELATVE 4

(SOIF4) (Social Influence) 2.044 6.625SOIF 1SOIF 4SOIF 2SOIF 3

(BBIN) Broadband Internet. 1.245 5.289BBIN1BBIN2BBIN4

BBIN3

Composite Factor of DV and IV Variables. A α ALPHA1. PU. .93542. PEOU. .9223

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3. RELATVE. .83234. SOIF. .74325. BBIN. .85426. ADOPTIB(Dependent Variable). .9324

Multiple Regression, Model Summary. Table-4.

Model R R Square Adjusted R SquareStd. Error of the Estimate

1 0.681(a) 0.510 0.507 0.65667451Variables Estimate β P ValuePU .582 .000PEOU .457 .000RELATVE .133 .000SOIF .458 .000BBIN .211 .000

** p<0.01, * p<0.05a Predictors: (Constant), PU, PEOU,RELATVE,SOIF, BBIN;

R2 = .681; Adjusted R2 = .510; F value = 196. 70; Sig value = .000

As seen in the table, all the hypotheses are supported. The results illustrated that the diffusionof web technology can be predicted by the (PU, H1)perceived Usefulness, (PEOU,H2) perceived Ease of use. (RELATVE,H3), Relative advantage, (H4, SOIF), Social influence (H5,BBIN), Broadband Internet .The overall results on the aggregated framework five independent positive summery stated that regarding the influence of PU, PEOU,RELATVE,SOIF, BBIN were positively supported. Studies carried out by (Poon, 2008; Pikkarainen et al., 2004; Davis, 1989) have generally shown that Perceived Usefulness and Perceived ease of use both has a positive influence on the adoption of new technology (e.g. internet banking). Regression analysis showed H1 (PU) and H2 (PEOU) having β=0.582, β=0.457 and p value .000 and .000 respectively( See at table-4).This research has consequently proved the prior findings that showed thus two variables were broadly used and robustly influence to adoption phenomena. In thus study also carried the identical and significant value which is influence adoption of internet banking among Malaysian bank consumers.Results shows H3 (RELATVE)relative advantage having (β value = 0.133; P-value = .000) is one of the robust variable which is influence to adopt internet banking as well technology adoption study, (Agarwal and Prasad,1998, Tornaztky and Klein 1982),See at table-4.Prior recognized

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literature has consistently shown that relative advantage has a significant and positive influence on diffusion of new technologies(Rogers, 1983,).

All the prior studies suggest that social influence a new technology adoption; the more likely it is that it will be adopted. Our result is also not against this. Finally, the support for H4 Social influence, the most influential among four, is line with the results of many prior studies (Yee & Yeow 2009; Yang, H.D., et.al 2009, Gupta et.al 2008,). Multiple regression analysis shows results of (β = .458, p value = .000) that there is no spirited that social influence positive and significant influence to adoption of internet banking. See at table-4

The acceptance of H5 (BBIN) broadband is a contemporary innovation variable, every single one companies were offering 3G+ services which offer the high speed broadband internet services, wide area wireless voice telephony and data transfer services. Tremendous diffusion has immensely controlling influence, Broadband Internet connection contributed some of the specific sectors of the E-commerce, k-economy, e-government; telecommunications, Internet banking and ecommerce specially. is in agreement with the wide range of previous findings (Ali Haider et.al 2010, Sawyer, S. et.al 2003).. Multiple regression analysis shows results of broadband Internet (β

=.211 and p value 0.000) indicating that (BBIN) broadband Internet has a positive influence adoption of internet banking. Thus study therefore further proves the earlier findings that showed (BBIN) support as having positive and significant influence adoption of internet banking.Discussions:From this research it was investigated that Adoption of Internet Banking in Malaysian bank Consumers perception and adoption be in command of factors. Contrastingly, the taking five factors that can be described by, the Usefulness, Ease of use (user-friendly) Broadband Internet influence family, friends, and relative advantage , social influences from to explain the adoption of Internet Banking among Malaysia positively.Using previous research as a means of analyzing the empirical evidence, it can be found that similar findings but factor broadband internet effect is the first time in Malaysian Internet banking adoption.However, when examining the adoption of the Internet within the Consumers and that too, within the context of the Malaysian Consumers, these findings are not parallel. Found that within the Malaysian Consumers, the factors associated to the adoption have an important role when explaining However, it was found that the Social influence factors that were identified as being important in this research as well were in line with those of The perceived usefulness Perceived ease of use factors include relative advantage of Broadband internet connection have faster access, faster download, un-metered access and always on access), utility outcome (Adoption of Internet Banking needed to perform transactions related tasks, to attain cognitive material, perform activities from Consumers hedonic feeling to Adoption of Internet Banking. Limitations and future directions:

The generalization of this study required collecting data from across the whole of the Malaysian. However, this was not possible due to the unavailability of a suitable sample frame for the population of the whole country. In the future this research intends to examine whether the findings obtained in this sampled surrounding area, are specific to the whole of the Malaysian. Further, if similar results are achieved in the Malaysian, are the results also going to be the same in other countries? With regards to the questionnaire findings, these would have been making stronger had it been possible to also supplement those using interviews. This supporting tool had to be abandoned due to the limitations of time and manpower. The findings could also have been reinforced if the research had been a longitudinal one. The data for this research has been collected within a short period of time and it only provides a snapshot. However, this can be expanded over a longer period of time to offer a longitudinal study. Further justification for

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undertaking a longitudinal study is the reasoning that the elimination of any variables that can turn out common order in the obtained results can occur. In future this studies a generalized demographics factor. The research called for further research that investigated the impact of demographic variables upon the adoption factors. This research also intends to follow that path in the future as well as the research those factors were contributed all off incorporated from the origin model future could used entire model with external examination .

Conclusions:This research was an initial and exploratory study of an emerging issue related to Adoption of Internet Banking adoption in the Consumers context. The study found that socienl influence of socity such as Broadband Internet Connection wth PC Laptop, PDA, WiFi Mobile phone etc, factors of relative advantage faster access banking website ; usefulness and Ease of Use using of Internet Banking for all activities of internet banking services have showen a hedonic fantasy to adopt of Internet Banking for financial transaction have an Internet Banking in the Consumers. Nevertheless, factors related to the aggregated had significant effect on adoption internet banking .This study also suggests that the non-adoption of Internet Banking Consumers in malaysia is driven by mainly, high credibility and the Perceived Trust. The research concern key challenges to Malaysian banking industry where M-banking diffused ,Still adoption of internet were low and infancy level.The study inspired and made a grate opportunity to investigate mobile banking in Malaysia in future.

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