As banks begin to shift their focus to a more transaction based revenue model, it is important for them to be able to meet the diverse needs of their clients in securing their transactional patronage. Mobile banking is predicted to continue to grow and become more important for the banking industry. Although there is significant growth globally, Canada is considerably behind in the adoption of mobile banking.

This study explores the adoption behavior of online banking in Canada by an extension of the theory of planned behavior. A model was adopted in an effort to increase the robustness of the theory of planned behavior model by addressing its rational bias. Additionally, an increased focus was placed on the determinants of attitude to increase the level of importance in developing intention. In doing so the mediating effect of attitude toward the adoption of mobile banking is observed between the three components of the theory of planned behavior and behavioral intention. Behavioral beliefs are represented by perceived usefulness and perceived risk, normative beliefs are represented by subjective norms, and control beliefs are represented by perceived ease of use and access barriers. The moderating effects of personality construct, openness to experience was also analyzed in an effort to discover significance of personality within the theory of planned behavior.

In assessing the relationships among the preceding constructs, moderated hierarchical regression was employed. Prior to carrying out these analyses, confirmatory factor analysis was performed. The results indicate support for attitude toward the adoption of mobile banking as a mediator between behavioral intention and two of the three components of the theory of planned behavior, specifically behavioral beliefs and normative beliefs. Although openness to experience showed a positively direct effect on attitude toward the adoption of mobile banking, its moderating effects were not supported. Research implications for academia and business practices were discussed.

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