Determinants of continuance usage of e-banking in Nigeria

Electronic banking aims to provide a more efficient and effective means of delivery of banking services to bank customers through the adoption, implementation and continued usage of the information system and information technologies in the banking sector. These will foster cross boundary financial transaction, and improve cross national trade; and as banks are pace setters for technology and growth in a developing economy they are core to the fulfillment of the Nigerian government‟s goal of the successful implementation of the cashless policy which was introduced by the Central Bank of Nigeria. Despite the benefits of the usage of the e-banking system, the percent of Nigerian bank users using the electronic platform is low as less than half of the population have access to the Internet. There are also other factors that determine its continued usage in Nigeria. The study, hence, explored the determinants of the continued usage of e-banking in Nigeria, using the Expectation Confirmation model. The survey for this study was carried out using questionnaires, and the Nigerian students in Universiti Utara Malaysia (UUM) were the respondents. Data were analyzed using IBM SPSS 24. Three factors; expected service quality, perceived security and perceived privacy were used to determine the expectations of users‟ priorities to e-banking usage. Their confirmation shows that their expectations of e-banking regarding service quality and perceived security were not confirmed after its usage. Only the expectation regarding perceived privacy was confirmed. The study further shows that there is a significant relationship between confirmation and satisfaction. Also, there is a significant relationship between satisfaction and continued usage intention, as dissatisfied customers tend to discontinue the use of e-banking. The study concludes that for the successful implementation of the cashless policy in Nigeria, there is a need for the continuance usage of e-banking