ABSTRACT
The UTAUT model is the most comprehensive and parsimonious theoretical framework at present as it captures all essential positive and negative indicators of the TRA, TAM, TPB and, IDT models (Venkatesh et al., 2003). It is formulated through detailed comparison and integration of aforementioned user acceptance models (Peres et al., 2010). The UTAUT model is successful in combining
most of the essential elements of these frameworks into major independent variables such as performance expectancy, effort expectancy, social influence, attitude and facilitating conditions (Venkatesh et al., 2003). The model has been verified in six industries; entertainment, and telecommunication services, branch banking and public administration, financial services and retail internet services (Kim & Lee, 2008). It serves as a platform for future technology adoption research (Venkatesh et al., 2003). It also incorporates barriers that would hinder internet banking adoption such as insufficient knowledge and time (Venkatesh et al., 2003). Preceding literatures (Agarwal et al., 2009; Chen et al., 2008; Wang and Emurien, 2005; Yiu et al., 2007) applied the UTAUT model in predicting internet business acceptance, prepayment, metering systems, e-government services, 3G services, e-business services, wireless sensor networks, instant messaging, online stocking, personal digital assistants and Weblogs but did not research into internet banking acceptance.
