Impact of Bank Account Holding Period on Artificial Intelligence-Driven Financial Assistant Adoption Factors and Behavioural Intention to Use AIFA Among Banking Customers

Abstract

Artificial intelligence-powered financial assistants offer a 24/7, easily available service that includes insights into spending patterns; savings plan recommendations and even answers to questions about banking-related duties. By combining convenience, individualised services and enhanced operational performance, the banking industry’s use of AI-powered financial assistants is completely changing the way financial services are provided. The banking industry’s most recent use of new technology is the use of AI-powered financial assistant services. As more customers are inclining towards tech-based services, the aim of the present study is to examine the impact of demographic variable i.e., Bank Account Holding Period on the customer’s adoption factors of AI-driven financial assistant. The study is based on primary data collected through an adapted questionnaire that contains the six major adoption factors of AI-driven financial assistants such as performance expectancy, effort expectancy, social influence, facilitating conditions, personal innovativeness, trust and behavioural intention to use AI-driven financial assistant. The data has been collected from banking customers of Haryana through a survey. ANOVA has been used to identify the findings and the result of the study depicts that customers’ adoption factors of effort expectancy, social influence, facilitating conditions, trust and personal innovativeness differ significantly based on Bank Account Holding Period, but performance expectancy does not differ significantly. Furthermore, behavioural intention to use AIFA also distinguishes between groups based on the length of time that a bank account has been held. Banks and other financial institutions will have a better understanding of their customer’s base as per the findings of this study.

Keywords: Artificial Intelligence (AI), Banks, AI-Driven Financial Assistant, Customers Adoption Factors, Behavioural Intention to Use AIFA

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