UNIFIED THEORY OF ACCEPTANCE USE OF TECHNOLOGY (UTAUT) AND ITS APPLICABILITY TO MORTGAGE BANKING DIGITIZATION: THE CASE OF THE PHILIPPINES
The advent of technology has influenced the way banks should conduct their business. People are becoming more conscious, more discerning and more critical with the way how businesses should provide efficient, fast, and convenient access to their products and services. And banks are not exempted from these expectations. There has been a steady surge of innovative technology that will help banks deliver more efficient services through digitization. This study was conducted to investigate the determinants of the behavioral intentions on the acceptability of the bank’s digital mortgage service from the perspective of 250 mortgage clients who are current or prospective users of digital mortgage service. The study was anchored from the Unified Theory of Acceptance Use of Technology (UTAUT). The research has found that the determinants of behavioral intention to accept digital mortgage device among mortgage clients were facilitating conditions, performance expectancy and effort expectancy. It was also revealed that based on the standardized beta coefficients, facilitating conditions (0.405), performance expectancy (0.383) and effort expectancy (0.134) had a significant influence on bank mortgage clients’ behavioral intentions to accept digital mortgage service. Additionally, it was also proven that the age, education, computer knowledge and internet knowledge of the mortgage clients moderate the impact of the three determinants: performance expectancy, effort expectancy and social influence on clients’ digital mortgage service acceptance. Lastly, it can be concluded that performance expectancy is directly related to internet time, frequency of product purchase using a mobile device and use of mobile banking.