Towards an understanding of consumers’ FinTech adoption: the case of Open Banking

Purpose This study aims to identify key factors driving consumers' adoption of Open Banking. It extends the Unified Theory of Acceptance and Use of Technology (UTAUT) by integrating perceived risk, initial trust and financial literacy into an overarching conceptual model. Design/methodology/approach Measurement items of the theoretical constructs included in the conceptual model were adapted from related literature and a set of hypotheses was developed. The hypotheses of the conceptual model were subsequently assessed with partial least squares structural equation modeling using a dataset of 456 Australian survey respondents. Findings The model has strong explanatory power with an R 2 of 69.5%. Performance…