EXPLORING DETERMINANTS OF CUSTOMERS' INTENTION TO ADOPT GREEN BANKING: QUALITATIVE INVESTIGATION

Abstract

Banks and financial institutions need to invest in green banking now more than ever if they hope to survive and counteract or minimise the damage done to the environment as a side effect of previously unchecked growth, greed and corruption in the financial sector. Green Banking (GB) refers to financial products and services related to the use of information technology, to protect the environment and improve social welfare by delivering alternative, more efficient financial facilities with durable protection at reduced costs, compared to conventional banking services. Despite GB's wide range of benefits, this trend is new in developing countries and some of them, including the United Arab Emirates (UAE) are facing issues with the low adoption of GB, which is a cause for concern. The purpose of this paper is to explore the determinants of customers' intentions to adopt GB practices. In order to achieve this objective, the research paper was designed as a qualitative semi-structured interview that gathered data from ten bank professionals. The data was analysed using Thematic Content Analysis on NVivo 11 software. The output of the study proposed an innovative model by integrating eight new essential determinants to Unified Theory of Acceptance and Use of Technology (UTAUT) to capture customers' intention to adopt GB initiatives. The study has the potential to provide a better understanding for bankers to design the proper interventions regarding the adoption of GB initiatives that would drive more sustainability.