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AN EMPIRICAL INVESTIGATION INTO FACTORS INFLUENCING THE ADOPTION OF INTERNET BANKING AMONG UNDERGRADUATE STUDENTS IN NIGERIA

This study investigated the factors influencing the adoption of internet banking among undergraduate students in Oyo town, Nigeria with a particular focus on private university in Oyo, Nigeria. The objectives of this study were to determine whether perceived ease of use, perceived usefulness, triability, capability, compatibility and perceived risk jointly and independently predicted the adoption of internet banking and also to ascertain the significant difference between perceived usefulness and adoption of internet banking. The study employed survey research. Primary data was used for the study with questionnaire as research instrument. The subjects were four hundred and seven students of a private university in Oyo. The hypotheses formulated for the study were tested using T-test, Pearson correlation, regression, and ANOVA with the aid of Statistical Package for Social Sciences (SPSS). The findings of the study revealed that perceived ease of use, perceived usefulness, triability, capability, compatibility and perceived risk jointly and independently predicted the adoption of internet banking. Also, there was a significant difference between Low and High Perceived usefulness and adoption of internet banking. In addition, there was a significant relationship between capability and adoption of internet banking. There was also main and interaction effect of capability and perceived risk on the adoption of internet banking. Based on the findings, it was recommended that banks should embrace and promote innovative banking strategies in this era of globalization of which internet banking is a key factor. This can lead to competitive advantage for the banks and better banking services for the customers.