Role of consumer personality in determining preference for online banking in India

Abstract

In recent years, companies have been increasingly giving attention to upgrading their consumer services through the use of web-based technologies. This research paper attempts to study the role of personality in evaluating online banking in India. The personality dimension scale developed by Aaker and the attributes of online banking (like perceived ease of use, security and privacy, perceived usefulness, amount of information and perceived enjoyment) developed by Pikkarainen et al were adapted to measure the role of personality in online banking in India. Our research findings show that certain personality factors- such as those who are more imaginative, reliable, intelligent, up-to-date and charming- affect the consumers evaluation of online banking in India. Using multiple regression tests, we attempted to predict the online banking attributes that are most important for different personality types. The banks should give importance to consumer personality while designing their websites. Personality of the consumers can play a significant role in the success of online banking in a developing country like India. © 2010 Macmillan Publishers Ltd.