Factors Influencing Behavioural Intention to Use Social Media and Social Media Usage among the Banking Consumers in Malaysia


  • Jacquline Tham, S. M. Ferdous Azam, Ali Khatibi, Arun Kumar Tarofder


Banking services are currently undergoing a transformational shift. Contextual banking access to banking services when consumers want it, where they want it, in a manner
they want it, fitting their lifestyle is becoming the norm among banking consumers. This is fuelled by the widespread adoption of smartphones and social networks which has transformed the consumer behaviour, thus expanding consumer expectations from banks. Consumers tend to demand user experience similar to what Tech giants are offering. Traditional banks have the opening to lead this transformation. However, they need to become agile and re-configure the way they do things. Traditional banks need to reach out to potential consumers’ way before financial decisions are made, thus attracting millennials. Number of Banks in the United States are already using Facebook messenger for customer support and also for ordinary transactions thus simplifying consumer experience with the Bank. The Government of Malaysia has an ambitious plan of getting everyone online as means of pushing the country towards the next income level while generating more employment and foreign income while taking modern education techniques to rural communities. Despite the potential, the usage of social media among the banking sector remains relatively low. Many banking customers are reluctant to consumer financial services through social media. This paper aims to understand the determinants of consumer intention to use social media in the banking sector in Malaysia based on the Technology Acceptance Model (TAM).