An analysis of experienced life events on continuance intention to use online banking in Thailand


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At present, marketers focus on the phenomenon of changing consumer behavior that influences consumer decision-making. This study aims to analyze the influence of experienced life events (affected by COVID-19), perceived risk, and anxiety on the continuance intention to use online banking in Thailand. The data were attained from 500 customers who had visited commercial banks in Thailand. The data were analyzed through Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM). The findings of the study suggested that both perceived risk and anxiety influenced the continued use of online banking services while experiencing the COVID-19 pandemic. More specifically, anxiety had a direct negative influence on the continuance intention to use online banking services; and the perceived risk had an indirect influence on the Continuance Intention to use online banking services caused by anxiety. From the research results, it is recommended that focus should be on policies and activities that help reduce consumers’ perceived risk and anxiety to motivate more consumers to turn to online banking and eventually into a cashless society with a willingness and sense of safety.

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    • Figure 1. Continuance intention framework
    • Figure 2. CFA model
    • Figure 3. Structural equation model
    • Figure 4. Influence of the moderating variable of experienced life event of the COVID-19 pandemic
    • Figure 5. Influence of the moderating variable of life-experience of the COVID-19 pandemic
    • Table 1. Statistic value for assessing the harmony of the CFA model
    • Table 2. Measurement model
    • Table 3. Direct effect
    • Table 4. Indirect effect
    • Table 5. Moderating variable
    • Table A1. Questionnaire items
    • Conceptualization
      Paisal Rittigul
    • Formal Analysis
      Paisal Rittigul
    • Methodology
      Paisal Rittigul
    • Validation
      Paisal Rittigul, Teerasak Jindabot
    • Writing – original draft
      Paisal Rittigul
    • Project administration
      Teerasak Jindabot
    • Supervision
      Teerasak Jindabot
    • Visualization
      Teerasak Jindabot
    • Writing – review & editing
      Teerasak Jindabot