Exploring Factors Influencing Behavioral Intention to Use Chatbot Services in the Banking Industry of Bangladesh
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Information technology has transformed the global economy, particularly the financial sector, by using different industry 4.0 technologies, such as big data analytics, the Internet of Things (IoT), and Artificial Intelligence (AI). Nowadays, customers use AI-based chatbots to check account balances, interact quickly, make disbursements, and manage the money they have with banks or other financial institutions. This study aims to evaluate the factors influencing customers' chatbot adoption intention in their banking activities in Bangladesh. The measurement development and hypotheses are based on the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) framework, extended with two external factors (i.e., customers’ perceived privacy risk and awareness of service). This study adopts a quantitative approach for data collection using an online survey. A total of 324 responses were collected from the actual bank chatbot users and evaluated using Structural Equation Modeling (SEM). The findings demonstrate that performance expectancy, effort expectancy, and perceived privacy risk had an impact on customers’ willingness to use banks’ chatbot services. Awareness of service has a strong, favorable impact on performance expectancy and effort expectancy. The findings also provide key recommendations for financial service providers on how to boost their customers’ intention to continue using chatbot services, supporting sustainable and long-term digital growth.
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