Technology Adaptation, Innovation Resistance and Net-Banking Behavior among Middle Aged Adults

Abstract

Middle age is a period between young adulthood and old age. Psychologists have defined specific characteristics for this group of adults who are in the making of their own person. Unlike the EPIC generation (Fadul, 2010), it is generally agreed that the middle aged people are poor in technology adaptation. Innovation resistance therefore can place them in a disadvantageous position in the society. The phenomenal technology boom in India in the last two decades have initiated internet and online banking and banks started offering clientele services in a more competitive way. How far the middle aged adults have adopted this technology and live in tune with the modern trends is an unexplored area. Do all the middle aged consumers have adopted themselves to internet banking and the associated new technology; what are the reasons for utilizing net-banking and also innovation resistance-are the main focus of this study. The subjects of this exploratory study are middle aged adults (aged 40 to 60) from Pollachi region in Tamil Nadu. Convenient sampling was used to collect data. The data was analyzed using Innovation Resistance theory (Ram & Sheth, 1989) and the Technology Acceptance Model (Venkatesh & Davis, 2000) to identify online banking behavior.