THE INFLUENTIAL FACTORS ON THE E-BANKING SERVICES ADOPTION BY GENERATION Z CUSTOMERS DURING THE COVID-19 PANDEMIC: THE CASE OF HO CHI MINH CITY, VIETNAM

Abstract

Under the influence of the fourth wave of contagious coronavirus disease in Vietnam, various precautions were imposed, that is, social distancing, quarantine, curfew, and lockdown, which led to shifts in customer behaviour across all sectors in Vietnam, including the banking sector. The research investigates the factors that influence customers' E-banking services adoption during the COVID-19 pandemic in Ho Chi Minh City, withthe segment chosen for the study being prospective consumers - Generation Z. The Theoryof Planned Behaviour (TBP) and the Technology Acceptance Model (TAM) are thefoundations of this research model. The research looks into six factors given by previousstudies that influence Generation Z customers' adoption of E-banking services: PerceivedUsefulness (PU), Perceived privacy and security (PPS), Trust (TR), Social Influence (SI),Hedonic Motivation (HM), and Perceived Ease of Use (PEU). With a structured set of 29questions based on the above factors, the number of collected data was 250 and processedby SmartPLS version 3.0. The research results show that PU, TR, SI, HM, and PEU areproportional to AEB, whereas the PPS variable is shown to have no meaningful effect onthe AEB of Gen Z in HCMC. The study provides critical insight into factors that encourageGeneration Z's adoption of E-banking services during the Coronavirus crisis.