Adoption of social media for the banking sector in Sri Lanka

Abstract

Despite social media having a remarkable success in many parts of the world in different contexts such as promoting brands to changing state leaders, the adoption by the banking sector to provide financial services remains relatively low across many parts of the world. Many banking customers are still reluctant to consume financial services via social media. In fact, how banks should adopt social media still remains unanswered, possibly due to the fluidity of social media compared to the rigidness of the banking sector. The aim of this paper is to devise a framework to better understand the determinants of social media adoption among the banking sector based on the Technology Acceptance Model (TAM).