The Adoption of Internet Banking and It’s Effects on Customer Satisfaction in Zambia

Abstract

The study examined the factors affecting the adoption intention of internet banking services and their effects on customer satisfaction in Zambia, utilizing a framework adapted from the Technology Acceptance Model (TAM). A quantitative correlational design was employed, and data was analyzed using the SPSS software. A sample of 179 respondents comprised of internet banking users was acquired through a structured survey questionnaire. The findings showed that Awareness of Service, Perceived Usefulness, Perceived Ease of Use and Perceived Credibility have statistically significant contributions to Adoption Intention of internet banking in Zambia. Additionally, Adoption Intention has a significant and positive effect on Customer Satisfaction. The mediation analysis showed that adoption intention mediates the relationship between independent variables and customer satisfaction in the Zambian context.

The study urges financial and banking institutions to prioritize developing awareness campaigns to educate customers about their financial technology solutions, as a lack of awareness can be a major barrier to adoption. These campaigns should focus on demonstrating the practical benefits and use cases of internet banking services in ways that resonate with the Zambian market, particularly highlighting how these services can solve common financial challenges faced by local customers.