Big TAM in Oman: Exploring the promise of on-line banking, its adoption by customers and the challenges of banking in Oman

M.M.M.A. Riffai (Lead / Corresponding author), Kevin Grant, David Edgar

    Research output: Contribution to journalArticle

    109 Citations (Scopus)

    Abstract

    Information and communication technology (ICT) developments and trends in recent years have had great impact on the banking sector worldwide. In many developed and developing countries, the use of disruptive innovation technologies has accelerated change in the way banking business is conducted, consumers being swept along with such change. However, in many countries, such as Oman, there are deep routed cultural and religious factors that cause consumers to question the acceptance of such changes. Through the use of a theoretical framework built on technology acceptance frameworks and models, and empirical evidence from key market segments of the Omani banking market, the research explores the factors that influence Omani consumer acceptance of on-line banking. The findings are significant in that trust, usability and perceived quality are deemed key drivers. This is probably not unexpected, however, what is interesting is that the market profile is skewed to middle aged users, with social standing and “herd” mentality does not affect the adoption of the technology. This, combined with the emerging mobile savvy younger generation poses an interesting challenge for the future of the banking sector in Oman and implies a need for the sector to rethink the strategic use of, and approach to, implementation of on-line banking in a way that is complementary to the cultural and ethological dimension of the market. In effect, the banking sector will need to manage the covert tension between technology driving “fast time”, and the Omani culture, religion and tradition demanding face to face “slow time”.
    Original languageEnglish
    Pages (from-to)239-250
    Number of pages12
    JournalInternational Journal of Information Management
    Volume32
    Issue number3
    Early online date19 Dec 2011
    DOIs
    Publication statusPublished - Jun 2012

    Keywords

    • On-line banking
    • Technology acceptance
    • Oman
    • TAM

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