Factors Influencing the Adoption of Digital Banking Platforms among the Customers of BoBL in Thimphu Dzongkhag

Abstract

This research study was conducted to investigate the factors influencing the adoption of digital banking platforms among Bank of Bhutan Limited (BoBL) customers, specifically in Thimphu Dzongkhag of Bhutan. The study has employed the Technology Acceptance Model (TAM) as a theoretical framework to assess how each independent variables influence the dependent variable toward the adoption of BoBL’s digital banking platform. For this study, data from 408 valid respondents were collected for the analysis. The respondents for the study include only the users’ of BoBL’s digital banking platform residing in Thimphu Dzongkhag. The study found five factors affecting adoption: perceived security and digital trust, digital financial literacy, perceived ease of use, transaction speed and timesaving, and perceived usefulness. Three of these - perceived security and digital trust, digital financial literacy, and perceived usefulness – significantly influenced adoption, with digital financial literacy being the most important factor. Interestingly, the mobile app (mBoB) was used by 84% of respondents, while the BoBNET Retail platform had almost no users. Overall, 61% of respondents reported using BoBL’s digital platforms for daily transactions.