Determinants of loyalty to online banking services

The rapid growth of online banking reflects its advantages over conventional branches. Many consumers, however, still only use online banking services sporadically, mainly to check balances and they avoid higher risk transactions. The aim of this study is to analyse the factors determining intensity of online banking services use, with a model which integrates the influence of perceived risk and trust in bank websites with the conceptual framework of Theory of Planned Behaviour (TPB). Risk has been measured as a formative construct. The hypotheses were tested on a sample of 511 online banking services users, using structural equation models. The results of the empirical study suggest that trust and the three variables of TPB (perceived control, subjective norm and attitude) positively influence loyalty. The role of trust is especially relevant as it also boosts the effect of attitude and reduces the negative effect of perceived risk. Finally, a set of managerial implications are considered. (C) 2009 ACEDE. Published by Elsevier Espana, S.L. All rights reserved.